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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #38,201
  • Jul 21, 2009 12:11am Jul 21, 2009 12:11am
Watching this Aud/Jpy 4 hour BEOB at a pretty good location.

I have a stop loss at the Barbreak, about 20 pips away. The BEOB broke for about 20 pips. So it could be a free trade right now. (not counting spread)

The blue area is the obvious area were I think Price will go. Let's see who wins the BarBreak stop loss at 76.50 or the blue area at 76.00.

(Hourly chart also shown)
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Indicators show the past. Price Action "Indicates" the future.
  • #38,202
  • Jul 21, 2009 12:25am Jul 21, 2009 12:25am
Quoting jarroo
Watching this Aud/Jpy 4 hour BEOB at a pretty good location.

I have a stop loss at the Barbreak, about 20 pips away. The BEOB broke for about 20 pips. So it could be a free trade right now. (not counting spread)

The blue area is the obvious area were I think Price will go. Let's see who wins the BarBreak stop loss at 76.50 or the blue area at 76.00.

(Hourly chart also shown)
hey Jarroo
u r not alone in this trade, already managed to get to be on my chfjpyh4 short after taking PP, entered a bit earlier though..now waiting to do the same with audjpy
Simplicity is the key to success
  • #38,203
  • Jul 21, 2009 12:35am Jul 21, 2009 12:35am
Quoting Mahoney
Hi Jaroo,

I barely ever post here, I do over at the PF but afraid to say am a serial lurker at FF. Been at it again and after reading your commentary on the GBP/JPY pair, felt I'd weigh in for a change.

I'm looking to short the pair after the daily PB formed in my Oanda platform. I'm being conservative and have set a limit sell at 154.59 so will see what happens. Theres some confluence with the round number 155 PPZ as you say, also with the 61.8% Fib level. Nose could be longer and I will look to move stop to breakeven if price gets to...

Trade what you see. I think your assessment of the size of the PB is right, it could be a bit bigger. And managing it tightly is a wise choice. Let's see how hard she breaks. (if she breaks).
Indicators show the past. Price Action "Indicates" the future.
  • #38,204
  • Jul 21, 2009 12:41am Jul 21, 2009 12:41am
Quoting squeezy
hey Jarroo
u r not alone in this trade, already managed to get to be on my chfjpyh4 short after taking PP, entered a bit earlier though..now waiting to do the same with audjpy
Very nice squeezy. It went right where it was suppose to go. Why didn't I use this one to see which would win. lol.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #38,205
  • Jul 21, 2009 1:14am Jul 21, 2009 1:14am
Quoting jarroo
Watching this Aud/Jpy 4 hour BEOB at a pretty good location.

I have a stop loss at the Barbreak, about 20 pips away. The BEOB broke for about 20 pips. So it could be a free trade right now. (not counting spread)

The blue area is the obvious area were I think Price will go. Let's see who wins the BarBreak stop loss at 76.50 or the blue area at 76.00.

(Hourly chart also shown)
The Barbreak loss this time. Nothings works 100%.

Now watch it fall hard. lol.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #38,206
  • Jul 21, 2009 2:36am Jul 21, 2009 2:36am
Quoting jarroo
Very nice squeezy. It went right where it was suppose to go. Why didn't I use this one to see which would win. lol.
yup, indeed it went right there

Quoting jarroo
The Barbreak loss this time. Nothings works 100%.

Now watch it fall hard. lol.
i had my SL a bit higher than that, so im still in but its taking too long...anyways as long as my stop hasnt been hit...its all good
if i were using ur bar break method which i use from time to time, i would have been 10pips above the triggered bar which is about 76.57 & it hasnt been hit yet but close...
lets see how it plays......
Attached Image (click to enlarge)
Click to Enlarge Name: 87.gif Size: 15 KB
Simplicity is the key to success
  • #38,207
  • Jul 21, 2009 2:43am Jul 21, 2009 2:43am
Quoting squeezy
yup, indeed it went right there



i had my SL a bit higher than that, so im still in but its taking too long...anyways as long as my stop hasnt been hit...its all good
if i were using ur bar break method which i use from time to time, i would have been 10pips above the triggered bar which is about 76.57 & it hasnt been hit yet but close...
lets see how it plays......
Or you could place the stop loss above the top of the BEOB (on the Aud/Jpy) which is a more proper placement when trading PA. I'm sure Mike and clockwork would agree.
Indicators show the past. Price Action "Indicates" the future.
  • #38,208
  • Jul 21, 2009 3:03am Jul 21, 2009 3:03am
Quoting jarroo
Or you could place the stop loss above the top of the BEOB (on the Aud/Jpy) which is a more proper placement when trading PA. I'm sure Mike and clockwork would agree.
Am with you on this one Jim. Stop 1pip above the BEOB high is my understanding too.

Z
  • #38,209
  • Jul 21, 2009 3:15am Jul 21, 2009 3:15am
Quoting jarroo
Or you could place the stop loss above the top of the BEOB (on the Aud/Jpy) which is a more proper placement when trading PA. I'm sure Mike and clockwork would agree.
yeah true, the traditional way is usually the best i guess....lol
Simplicity is the key to success
  • #38,210
  • Jul 21, 2009 3:20am Jul 21, 2009 3:20am
Quoting squeezy
yeah true, the traditional way is usually the best i guess....lol
It usually is in direct proportion with the quality of the setup. Meaning, the higher the quality the proper placement (above or below) the given setup is best suited. But I understand hard break, quick b/e placement that most lower quality setups require.
Indicators show the past. Price Action "Indicates" the future.
  • #38,211
  • Jul 21, 2009 5:06am Jul 21, 2009 5:06am
Interesting backtest analysis at the foot of this:
http://www.learningmarkets.com/index...ing-stars.html
  • #38,212
  • Edited 9:19am Jul 21, 2009 6:35am | Edited 9:19am
I will likely look to go long here at the close of this candle in 27 min. TP at the 156.50 area.

K.I.S.S.

Edit: Long at 1.5504 SL 154.22
Update: First position TP @1.5538 Second stopped out at 154.22
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy4hr.gif Size: 46 KB
  • #38,213
  • Jul 21, 2009 6:52am Jul 21, 2009 6:52am
Quoting mbqb11
people often ask me how to trade without a chart. Somethings i keep secret, but here is the real way to view your charts once you get it setup right.


Now you can actually touch your pinbars!
LOL just saw this post. Had some 3d glasses on my desk for the past year and it never occurred to me to try this out... It's actually really good for those of you who have trouble defining the trend. Just set your up bars to green, down bars to red, then look through one eye at a time. Job done!

OMG it's a solitary life trading. Thank God for Forex Factory! Haha
Time for a new chapter
  • #38,214
  • Jul 21, 2009 7:16am Jul 21, 2009 7:16am
Quoting markf45
LOL just saw this post. Had some 3d glasses on my desk for the past year and it never occurred to me to try this out... It's actually really good for those of you who have trouble defining the trend. Just set your up bars to green, down bars to red, then look through one eye at a time. Job done!

OMG it's a solitary life trading. Thank God for Forex Factory! Haha
I wear 3D glasses to hide the losses on my statements. Haven't had a losing trade for years.
Bundy's status today: "Waiting..."
  • #38,215
  • Jul 21, 2009 7:23am Jul 21, 2009 7:23am
Quoting bundyraider
I wear 3D glasses to hide the losses on my statements. Haven't had a losing trade for years.
Brilliant!!!! LOL!!!
  • #38,216
  • Jul 21, 2009 8:04am Jul 21, 2009 8:04am
Quoting bundyraider
I wear 3D glasses to hide the losses on my statements. Haven't had a losing trade for years.
Lol comedy at it's best!
Time for a new chapter
  • #38,217
  • Jul 21, 2009 8:10am Jul 21, 2009 8:10am
Quoting jarroo
It usually is in direct proportion with the quality of the setup. Meaning, the higher the quality the proper placement (above or below) the given setup is best suited. But I understand hard break, quick b/e placement that most lower quality setups require.
thanks jarroo
i see wat u mean, the better the quality of pa, the more room u give to the trade...
when placing ur stop loss, do u add the spread to it...just curious
thnx
Simplicity is the key to success
  • #38,218
  • Jul 21, 2009 8:57am Jul 21, 2009 8:57am
Quoting james16
At 10:56 p.m. EDT on July 20, 1969, Neil Armstrong descended the ladder of the Apollo 11 lunar module, becoming the first man to walk on the moon.

i was 8 years old and i can still remember the awe i felt watching it.

my father a hardened korean war vet cried like a baby.

i remember being in awe of that also.
Wow - I was just telling my 12 year old I watched it. I was 6. I vividly remember it. And how my Dad said to pay close attention, that we would never, ever see a bigger moment in history unfold before our eyes.
I'm pretty much done with all this ...
  • #38,219
  • Jul 21, 2009 9:28am Jul 21, 2009 9:28am
Quoting StoragePro
Wow - I was just telling my 12 year old I watched it. I was 6. I vividly remember it. And how my Dad said to pay close attention, that we would never, ever see a bigger moment in history unfold before our eyes.
Until you saw James16 first post
I hear and I forget. I see and I remember. I do and I understand.
  • #38,220
  • Jul 21, 2009 9:33am Jul 21, 2009 9:33am
Quoting tac
Until you saw James16 first post

I like that Tac......good one!!!!
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