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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

  • #40,121
  • Aug 6, 2009 8:43am Aug 6, 2009 8:43am
OK, OK, I do like some news...

Steven Tyler, lead singer of Aerosmith is 61!!!!

Holy Crap, that is even older than Jim !!!

Apparently he is also getting brittle... LINK

Back to our regularly scheduled programming...


PS - Hey Mike - do you know who Steven Tyler is???
I'm pretty much done with all this ...
  • #40,122
  • Aug 6, 2009 8:49am Aug 6, 2009 8:49am
Quoting StoragePro
OK, OK, I do like some news...

Steven Tyler, lead singer of Aerosmith is 61!!!!

Holy Crap, that is even older than Jim !!!

Apparently he is also getting brittle... LINK

Back to our regularly scheduled programming...


PS - Hey Mike - do you know who Steven Tyler is???
I heard about that on the radio on the drive in to work this morning!

Something else of interest....My first name is Stephen. My middle name is Tyler.
skype: ststroud. let's talk trading.
  • #40,123
  • Aug 6, 2009 8:49am Aug 6, 2009 8:49am
Would this be a BEOB at a swing high or has it already made the turn?

Outside bars are still somewhat tricky to me.

Thanks
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  • #40,124
  • Aug 6, 2009 8:55am Aug 6, 2009 8:55am
Quoting tyler812
Something else of interest....My first name is Stephen. My middle name is Tyler.
Except you play guitar instead of sing though don't you? lol

Parents fans? Or co-incedence?
Bundy's status today: "Waiting..."
  • #40,125
  • Aug 6, 2009 9:07am Aug 6, 2009 9:07am
Hi Johnny,

In terms of R:R, basically, the practical implementation for me is to prevent entering a trade where the next trouble zone is too close to the inward end of the pinbar.

Some long-term members on this thread also report R:R/winrate, but some other object this concept.

The 3 failed trades that I got is not quite related to R:R, they are more about the quality of the pinbar location. 1 or 2 of them may be really failed pinbars. 2 of them may not be in good quality location.

kk

Quoting johnnykanoo
i just ahve to say that is the funniest thing i have read in a long time lol!!!!


hey kk i know how you feel when presented with these new concepts. a few weeks ago i was defending the r:r thingy and decided allthough i don't fully agree with those who posted (even long time veterans) I decided that I would have an open mind and i would "fake it till i make it"

so what I do is i accept the reality that there are some seriously experianced traders trading this method and i am new.

its like jackie chan in the kingdom. he gave his student...
  • #40,126
  • Aug 6, 2009 9:09am Aug 6, 2009 9:09am
Quoting layton
Would this be a BEOB at a swing high or has it already made the turn?

Outside bars are still somewhat tricky to me.

Thanks
That bar would not count as a BEOB as it does not "Swallows" the previous bar. the high of that bar has to be higher than of the previous bar.
  • #40,127
  • Aug 6, 2009 9:10am Aug 6, 2009 9:10am
Quoting StoragePro
OK, OK, I do like some news...
........
PS - Hey Mike - do you know who Steven Tyler is???

u seem to be underestimating my generation. (i'm a few months? older than sir Mike)
But, ARE U KIDDING??? his daughter is a bomb shell, Liv Tyler. how could we not know him&her? also Steve's got some great songs we grew up with, like "Crazy" . (i just hope they reduce their lip "perimeter area" )


this is not germane to the thread topic, but a seasoned trader started it.... am just happy to oblige...


Quoting tyler812
I heard about that on the radio on the drive in to work this morning!
Something else of interest....My first name is Stephen. My middle name is Tyler.
sorry Tyler, i'll spit it out for the world to know...
u & "that" Tyler share the same birth month. Hahah
  • #40,128
  • Aug 6, 2009 9:14am Aug 6, 2009 9:14am
http://www.forexfactory.com/t/2331/p...ml#post2933104

I will trade just about any pin formed off a .618, .786 or .886 retracement # when it rejects off the 150 or 365ema. This will probably be my signature trade from here forward. If you have a period converter, you can find these trades all over different TF's. The higher TF the less opportunities but probably better results. I will need to set fourth the rules of the exit strategy before I share further but I will be posting a chart. This pin was formed from a 3.618 retracement.
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  • #40,129
  • Aug 6, 2009 9:15am Aug 6, 2009 9:15am
Quoting bundyraider
Man, don't abandon your R:R ideals! ....That's not what's taught here at all.

It's like you said, "Open mind".
Cheers. Bundyraider,

I think the reason some expert level members here don't care much about R:R is that they are trading at a very high winrate (+90%), so even if they are making a 7:1 trade, they have a positive expected value. Nevertheless, I wonder if most of the consistent winners here are happy to trade in this way.

kk
  • #40,130
  • Aug 6, 2009 9:17am Aug 6, 2009 9:17am
Quoting bundyraider
Except you play guitar instead of sing though don't you? lol
Actually, I play keyboards and guitar (classically trained as a pianist for 11 years...)

Quote
Parents fans? Or co-incedence?
Pure coincidence (Mine's spelled stephen not steven)
skype: ststroud. let's talk trading.
  • #40,131
  • Aug 6, 2009 9:19am Aug 6, 2009 9:19am
Quoting supremeChaos
sorry Tyler, i'll spit it out for the world to know...
u & "that" Tyler share the same birth month. Hahah
I know....it's almost uncanny
skype: ststroud. let's talk trading.
  • #40,132
  • Aug 6, 2009 9:24am Aug 6, 2009 9:24am
Quoting SeekingLight
I hope not, I use it all the time. Thought it was more of a meek gesture.

Way I see it it's like saying "I'm fine with your standpoint and definitely don't mind you having it. I have a perspective that might differ. If I may voice it, mine goes roughly like this:"

..and not like "Yea, that's nice that you think that, but I don't give a toss about it and here's how it really is"
Not only that, typing IFWYSADDMYHIIHAPTMDIIMVIMGRLT is way longer and more difficult to remember than IMHO.

K.I.S.S.
  • #40,133
  • Edited 9:26am Aug 6, 2009 9:25am | Edited 9:26am
Quoting KissFan
http://www.forexfactory.com/t/2331/p...ml#post2933104

I will trade just about any pin formed off a .618, .786 or .886 retracement # when it rejects off the 150 or 365ema. This will probably be my signature trade from here forward. If you have a period converter, you can find these trades all over different TF's. The higher TF the less opportunities but probably better results. I will need to set fourth the rules of the exit strategy before I share further but I will be posting a chart. This pin was...

I have just gone out of it with second part of my short, I got frightened simply (ema 150)

Peter
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Jesus Christ is my only Lord !
  • #40,134
  • Aug 6, 2009 9:29am Aug 6, 2009 9:29am
Quote
Not only that, typing IFWYSADDMYHIIHAPTMDIIMVIMGRLT.......

KissFan,
wow, no wonder u are becoming more & more profitable....
u have been "patient" with that acronym..
(not to mention the .886Fib, lol)
  • #40,135
  • Aug 6, 2009 9:34am Aug 6, 2009 9:34am
Quoting hipcio
I have just gone out of it with second part of my short, I got frightened simply (ema 150)

Peter
Did you enter the trade on the 1hr?

K.I.S.S.
  • #40,136
  • Aug 6, 2009 9:38am Aug 6, 2009 9:38am
Quoting supremeChaos
KissFan,
wow, no wonder u are becoming more & more profitable....
u have been "patient" with that acronym..
(not to mention the .886Fib, lol)
Patience is the key to being a successful trader. Of course IFWYSADDMYHIIHAPTMDIIMVIMGRLT. Knowledge and practice of your methodology is an integral part of mastering the market you are trading as well.

K.I.S.S.
  • #40,137
  • Aug 6, 2009 9:45am Aug 6, 2009 9:45am
I have a different view. IMHO, I believe that technical analysis don't necessarily goes with news. They are two quite independent things. It is very risky to trade news based on technical analysis, no matter what method you use. It simply is not high-probs trading. The best method is to prevent important news, if you are trading intradaily.

Yes, this one go very well, but it is more about coincidence.




Quoting StoragePro
EURGBP 1hr Chart.

Notice the PB prior to the news? You had only the last few minutes of the hour to get your trade on, but the market generally knows in advance.

GBPCAD also Pinned yesterday.

The market knows. Trade PA, or paralyze yourself with news, (There are some news traders out there, but they die young...)
  • #40,138
  • Aug 6, 2009 10:03am Aug 6, 2009 10:03am
Quoting kk007
I have a different view. IMHO, I believe that technical analysis don't necessarily goes with news. They are two quite independent things. It is very risky to trade news based on technical analysis, no matter what method you use. It simply is not high-probs trading. The best method is to prevent important news, if you are trading intradaily.

Yes, this one go very well, but it is more about coincidence.
We never do this...

"trade news based on technical analysis"

News has nothing to do with our trading because for our money where price is going is of far far more importance than why this is why stuff like co relations and news impacts stay out of our way...
I believe . . .
  • #40,139
  • Aug 6, 2009 10:03am Aug 6, 2009 10:03am
kk007,
StoragePro speaks the truth. the market "knows".
the big guys know a lot we don't know, & that includes data/news releases results PRIOR them being released to the public. some/many big guys position themselves prior the news release.
For example, SP's eurgbp PB example. there was a downmove which quickly became a PB. some people have scooped up/bought at discount prices, knowing that BOE will surprise the market (which was GBP-negative), hence the PB formed & then a shot up to the moon.
if u look back in history &/or if u have traded fairly long enough (1-5years) & have been observant on news times/days like today, u would know that these are not mere coincidences. what's good is that even if we are not news-savvy, we can still profit via PA setups that we discuss here day in & day out.
  • #40,140
  • Aug 6, 2009 10:13am Aug 6, 2009 10:13am
Quoting KissFan
http://www.forexfactory.com/t/2331/p...ml#post2933104

I will trade just about any pin formed off a .618, .786 or .886 retracement # when it rejects off the 150 or 365ema. This will probably be my signature trade from here forward. If you have a period converter, you can find these trades all over different TF's. The higher TF the less opportunities but probably better results. I will need to set fourth the rules of the exit strategy before I share further but I will be posting a chart. This pin was...
Very nice Kiss,

these 2 mas blow it up almost every time they come together...

Good stuff.

G
I believe . . .
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