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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

  • #40,901
  • Aug 13, 2009 9:10am Aug 13, 2009 9:10am
Another 4hr pin to go with all you USD-CAD guys:

CAD-CHF:
4hr pin at good location
- ppz
- 50% fib
- in the trend of the weekly pin that broke

Only downside is its in a highly congested zone. Theres a lot of traffic all the way down. Tight money management is essential.

PS. Sorry its in a 1hr chart, my 4hr feeds timing is messed up by +1 hour and its messing up my pins! As you can see though, the pin showed up as a DBHLC on the 1 hr.
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  • #40,902
  • Aug 13, 2009 9:17am Aug 13, 2009 9:17am
Shorter time frame but following the trend, fib zone - a noisy area but what isnt noise these days !
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  • #40,903
  • Aug 13, 2009 9:21am Aug 13, 2009 9:21am
Quoting salisa
ok so the pin didn't form but I had already (maybe too eagerly) put my order in only for it to break early... it reached the first trouble zone at 1.09 so half off the table and the rest to BE for a very sudden free trade... now to watch the rest play out...
Better be careful about that sort of thing. You can get crunched. And if you don't, You'll get a bad habit - which is much worse,because you'll get crunched over and over again.
I'm pretty much done with all this ...
  • #40,904
  • Aug 13, 2009 9:25am Aug 13, 2009 9:25am
USDCAD BEOB Redux

Notice where the price reversed? No surprise. A great bar, but the location - meh.

If you got in, tell me you either went to break even once it hit this area, or got out. Pull up the hourly chart - that area has gotten a lot of respect - yesterday.

...
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I'm pretty much done with all this ...
  • #40,905
  • Aug 13, 2009 9:53am Aug 13, 2009 9:53am
Quoting Lugner
Hello, first post here. I've been lurking and here are some setups at least loosely based on what I've learned here.

XAG I took what I have come to be known (correct me if I'm wrong) as 'Blind entry', entered market on open of the bullish PA, as I'm very bullish on long-term silver.

Long Entry: 14.57

AUDUSD is a similar trade, seeing an overall bear on USD now anyway.

Going to move stops to b/e very soon.

Comments appreciated.
Just wanted to send my welcomes and say first post? Nailed it!

Can't tell you the feeling us long timers get when a lurker comes out and nails it like that
  • #40,906
  • Aug 13, 2009 9:54am Aug 13, 2009 9:54am
I was thinking this was a good setup.. however..
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  • #40,907
  • Aug 13, 2009 10:01am Aug 13, 2009 10:01am
stopped out on UC... looking back it was not really a good trade but it turned a profit with very tight management... onto doing what I said yesterday: "wait until you get a decent set-up"!!
  • #40,908
  • Aug 13, 2009 10:04am Aug 13, 2009 10:04am
Quoting StoragePro
Better be careful about that sort of thing. You can get crunched. And if you don't, You'll get a bad habit - which is much worse,because you'll get crunched over and over again.
thanks sto... I have indeed been crunched over and over again. Starting to learn slowly though!
  • #40,909
  • Aug 13, 2009 10:32am Aug 13, 2009 10:32am
Still in my EUR/AUD its using 1.7000 as resistance now so hopefully it will drop like a brick soon.
I hear and I forget. I see and I remember. I do and I understand.
  • #40,910
  • Aug 13, 2009 10:42am Aug 13, 2009 10:42am
I have finally decided to have myself an avatar picture like many of you, I think you'll recognize my faster

like that motto: " a picture is like million words" or somethink like that


NACHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO is back

have a sit Ladies and gentlemen


http://www.funtalking.com/images/nacho_jack2.jpg
  • #40,911
  • Aug 13, 2009 10:45am Aug 13, 2009 10:45am
Quoting triger88990
I have finally decided to have myself an avatar picture like many of you, I think you'll recognize my faster

like that motto: " a picture is like million words" or somethink like that


NACHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO is back

have a sit Ladies and gentlemen


http://www.funtalking.com/images/nacho_jack2.jpg
lol,

Try tattoing a "P" across your chest...

Pip man on the move.

g
I believe . . .
  • #40,912
  • Aug 13, 2009 10:49am Aug 13, 2009 10:49am
Well done Tac, that must be around 800 pips. You have done well to hold on to that one!
The customer is always right!
  • #40,913
  • Aug 13, 2009 10:54am Aug 13, 2009 10:54am
Quoting ghous
lol,

Try tattoing a "P" across your chest...

Pip man on the move.

g
....
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #40,914
  • Aug 13, 2009 10:55am Aug 13, 2009 10:55am
Quoting salisa
stopped out on UC... looking back it was not really a good trade but it turned a profit with very tight management... onto doing what I said yesterday: "wait until you get a decent set-up"!!
108 was always a serious concern,

Like StO said it still did what it was supposed to do, and those experienced enough to handle such setups will no way loose on this...

Amazing how something as simple as "wait until you get a decent set-up" can take sooo looong to get drilled in, It's been more than 1 year down the road and I still at times struggle with it.

G
I believe . . .
  • #40,915
  • Aug 13, 2009 10:57am Aug 13, 2009 10:57am
Quoting triger88990
I have finally decided to have myself an avatar picture like many of you, I think you'll recognize my faster

like that motto: " a picture is like million words" or somethink like that


NACHOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO is back

have a sit Ladies and gentlemen


is this the romanian version of superman?
meine augen sind die sterne
  • #40,916
  • Aug 13, 2009 10:57am Aug 13, 2009 10:57am
Quoting Pipfox
Well done Tac, that must be around 800 pips. You have done well to hold on to that one!
He's talking abt the Wednesday pin bar pipfox, which should be around BE currently.
I believe . . .
  • #40,917
  • Aug 13, 2009 10:58am Aug 13, 2009 10:58am
Haven't talked about the weekly pin on GBPUSD, so I was wondering where everyone was in it (to those that took it of course). I got stopped out for a whopping 12 pips today after being up over 200 at one point. Since I'm still trying to figure out the 'take profit' side of this, should I have moved my stop up even further to get more pips, or did I do the right thing in leaving it around B/E until the weekly bar closed? I couldn't even really use the two-bar stop method on this one, since there wasn't enough bars yet (on the daily). Should I have just taken profit once it stuck around the daily 365 EMA for two days? Sorry for rambling, I just don't know what I could have done differently

The daily chart had the 365 EMA running right through it - talk about a brick wall of support...

Would love to hear some comments/advice - thanks
  • #40,918
  • Aug 13, 2009 11:00am Aug 13, 2009 11:00am
Quoting salisa
stopped out on UC... looking back it was not really a good trade but it turned a profit with very tight management... onto doing what I said yesterday: "wait until you get a decent set-up"!!
Salisa, I am still in the USD CAD trade. I have taken a more liberal approach with a full bar stop. You could have gotten out with 55 pips max but it has bounced very hard off of 1.09 and i'm staying in this one for a while longer at least.

Silver gave a nice trade today. Seems to be sticking around the 15.000 mark, give it some room and hope we continue.
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The customer is always right!
  • #40,919
  • Aug 13, 2009 11:01am Aug 13, 2009 11:01am
Quoting ghous
He's talking abt the Wednesday pin bar pipfox, which should be around BE currently.
Yeah...ran to look at the chart there!!! Ah well that PPZ is holding strong that you pointed out!. BAD PPZ!! let price through.
I hear and I forget. I see and I remember. I do and I understand.
  • #40,920
  • Aug 13, 2009 11:02am Aug 13, 2009 11:02am
Quoting ghous
He's talking abt the Wednesday pin bar pipfox, which should be around BE currently.
Sorry, I thought it was the July 13th! My bad.
The customer is always right!
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