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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

  • #41,441
  • Aug 19, 2009 12:33am Aug 19, 2009 12:33am
Quoting nasir.khan
Thanks Mike. As you know i only trade 1K so i can't take partial profits and i also don't put TP's.
I have found my strength in letting it run...
I would have put it on BE and i would have got out of it with zero pips as you can see it came back to my BE....
yes u can & why not?
if you are in account building mode like i am, then every pip profit counts. we take what we can, & imho we cant afford to turn a big winner into a BE trade, at least put a trailing stop to catch even "a piece of the pie" instead of letting your unrealized profits turn into BE. we can use what we learn here by applying S/R's & PPZs when putting trail.stops

I also am flexible with my TP's but we must be very alert & quick in our decision making, along with having a plan (for exits & targets)....
hope this helps nasir..
  • #41,442
  • Aug 19, 2009 12:35am Aug 19, 2009 12:35am
Quoting supremeChaos
So that makes me the 3rd guy to vouch for him...
so far my prized vouch is this guy below....
Whoa. I only just noticed those vouch things. I always wondered what the 10+V thing meant next to everyone's name.

Awesome


Quoting supremeChaos
Nice posts.
Hey, if u say u are poor, then what am i called?
A guy whose goal is to climb mountains - and, without a doubt, one day will

Although I do admit it was a pretty poor choice of words on my part... but 'undercapitalised' was way too much effort at the time
When you have to shoot, shoot. Dont talk.
  • #41,443
  • Aug 19, 2009 12:45am Aug 19, 2009 12:45am
Quoting joelcf
Whoa. I only just noticed those vouch things. I always wondered what the 10+V thing meant next to everyone's name.
.........
personally, i think the vouch system is highly subjective & less objective than it should be.
Fo sure, i know some traders who only have a few or zero vouches but are good traders/people.

Quote
Although I do admit it was a pretty poor choice of words on my part... but 'undercapitalised' was way too much effort at the time
That's ok.
U must've been too drunk to type longer words..
  • #41,444
  • Aug 19, 2009 12:54am Aug 19, 2009 12:54am
Quoting supremeChaos
yes u can & why not?
if you are in account building mode like i am, then every pip profit counts. we take what we can, & imho we cant afford to turn a big winner into a BE trade, at least put a trailing stop to catch even "a piece of the pie" instead of letting your unrealized profits turn into BE. we can use what we learn here by applying S/R's & PPZs when putting trail.stops

I also am flexible with my TP's but we must be very alert & quick in our decision making, along with having...
Yes i do not let winners into looser and i surly would have gotten out of this GJ trade at BE but when i saw the IB i give it some room and look at this.

Isn't this a beautiful sight if you are on right side of it.
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  • #41,445
  • Aug 19, 2009 1:04am Aug 19, 2009 1:04am
Quoting nasir.khan
Yes i do not let winners into looser and i surly would have gotten out of this GJ trade at BE but when i saw the IB i give it some room and look at this.

Isn't this a beautiful sight if you are on right side of it.
I see a trader in the making..good work fella
  • #41,446
  • Aug 19, 2009 1:11am Aug 19, 2009 1:11am
Quoting supermatt
I thought this was a pretty good setup. I have noticed a few pairs are in a similar situation with nice 2 day pin combos forming.
This one is on G/U daily and then I just mucked around with the period converter to get a 3 day chart seems it helps me identify pin bars better

Seems to be going with the trend and at a decent location. Could run into some trouble at 6600 though.

what does everyone think? I'm still learning
As you, I too am still in the enlightenment phase but can say that I've been short in GU since the weekly PB last week. I've pulled some profit already and have set my S/L to just above all those bar highs to the left.

If thinking of taking the 2 day PB you might want to put an entry above the .66100 level as it has shown nice resistance for a couple of weeks.

Aloha
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A lawn mower is not an effective tool to pick-up dog poop!
  • #41,447
  • Aug 19, 2009 1:13am Aug 19, 2009 1:13am
Quoting nAVIN2007
I see a trader in the making..good work fella
Thank's. These lines get me going.
  • #41,448
  • Aug 19, 2009 1:27am Aug 19, 2009 1:27am
Quoting Jazflyer
As you, I too am still in the enlightenment phase but can say that I've been short in GU since the weekly PB last week. I've pulled some profit already and have set my S/L to just above all those bar highs to the left.

If thinking of taking the 2 day PB you might want to put an entry above the .66100 level as it has shown nice resistance for a couple of weeks.

Aloha
Looking back on it, as you said there was resistance at 6600 and an entry above that would have been a good move. I will still hang on in this trade as I still think its a good setup and the pinbar is in a good location. But I think I was maybe a little ambitious. Think I got excited by a few of these 2 days pins that formed on various gbp and au pairs
  • #41,449
  • Aug 19, 2009 1:30am Aug 19, 2009 1:30am
Quoting nasir.khan
Thank's. These lines get me going.
this method really works...stick at it..
  • #41,450
  • Aug 19, 2009 1:32am Aug 19, 2009 1:32am
Hi Guys,

Saw this pin in Cable during Tokyo session.

Looked like decent shape, but space and location looked like crap.

Sitting above confluence of weekly & monthly pivots + looks like a whole buncha traffic below in the rectangles.

That view right?

I'm learning it's STUPID to shotgun when you can snipe.
Mad a couple of dumb trades lately.
Ouch
(betting really small though. keeping tuition cheap)

Cable, 4hour
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One Mind, Any Market
  • #41,451
  • Aug 19, 2009 2:00am Aug 19, 2009 2:00am
Quoting nasir.khan
Yes i do not let winners into loser and i surely would have gotten out of this GJ trade at BE but when i saw the IB i give it some room and look at this.

Isn't this a beautiful sight if you are on right side of it.

Hey nasir. Can you post a chart showing the Hourly IB on the Gbp/Jpy that you gave room.

Just curious. (sorry I can't post charts)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #41,452
  • Aug 19, 2009 2:02am Aug 19, 2009 2:02am
Quoting mbqb11
HAHAHAH

even more amazing.

Indicators show the past. Price Action "Indicates" the future.
  • #41,453
  • Aug 19, 2009 2:02am Aug 19, 2009 2:02am
Quoting Cyrus
Hi Guys,

Saw this pin in Cable during Tokyo session.

Looked like decent shape, but space and location looked like crap.

Sitting above confluence of weekly & monthly pivots + looks like a whole buncha traffic below in the rectangles.

That view right?

I'm learning it's STUPID to shotgun when you can snipe.
Mad a couple of dumb trades lately.
Ouch
(betting really small though. keeping tuition cheap)

Cable, 4hour
I am in this also Cyrus.

I don't know why but i hated Pivots from day one and never tried to learn about them maybe i am wrong.

When i need reasons to enter or pass a trade i think Fibbs, Trend lines, MA's, Pin Bars, IB's and MACD is enough for me and looking at them trade was to be taken and i took it.
  • #41,454
  • Aug 19, 2009 2:11am Aug 19, 2009 2:11am
Quoting jarroo
Hey nasir. Can you post a chart showing the Hourly IB on the Gbp/Jpy that you gave room.

Just curious. (sorry I can't post charts)

Jim
http://www.forexfactory.com/showpost...ostcount=41449
  • #41,455
  • Aug 19, 2009 2:12am Aug 19, 2009 2:12am
Quoting Cyrus
Hi Guys,
Saw this pin in Cable during Tokyo session.
Looked like decent shape, but space and location looked like crap......
yes there's a bunch of traffic.
in case u haven't noticed, cable/gu is still or back in the range which has been going on for some months now

u have to take that range/traffic into account, so we must be very careful & be aware of traffics/ PPZ's.
at the same time, take note of quick moves that happened in the immediate left of current price: two fairly huge non-consecutive bear.bars followed by 2 fairly huge non-consecutive bull.bars (see your chart).
currently price has stalled around 1.6450.

if bearishness resumes later, we may see 1.6400-1.6430 (minor PPZs) & even 1.6270-1.6330 (Monday's lows/traffic area)
FYI for the fundamentals-fanatics, BOE minutes in 1.5hrs' time (8.30GMT). this may drive PA further.
  • #41,456
  • Aug 19, 2009 2:15am Aug 19, 2009 2:15am
Quoting nasir.khan
http://www.forexfactory.com/showpost...ostcount=41449

Yeah I saw this chart. But I didn't see the IB you were talking about. Could you highlight it?
Indicators show the past. Price Action "Indicates" the future.
  • #41,457
  • Aug 19, 2009 2:18am Aug 19, 2009 2:18am
Hi guys.

This is one of those legendary pin bars that a lot of people haven't seen because its the Euro vs the Check Krouna, so I wanted to post it. Like James has taught us, if you're willing to wait for setups like this it's tough to lose.
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How you act is more important than how you feel.
  • #41,458
  • Aug 19, 2009 2:21am Aug 19, 2009 2:21am
Quoting Warmagus
Hi guys.

This is one of those legendary pin bars that a lot of people haven't seen because its the Euro vs the Check Krouna. Like James has taught us, if you're willing to wait for setups like this it's tough to lose.
Then the question is do you trade it George Soros style and pile in the biggest position you possible can?

(it's a rhetorical question)
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #41,459
  • Aug 19, 2009 2:21am Aug 19, 2009 2:21am
jarroo,
thanks, i almost forgot to ask about this (IB location).
he may be referring to 1 of the 3 or all 3 candles (small green, small red, slightly bigger green candle) prior the last big bearish red bar on his chart.
  • #41,460
  • Aug 19, 2009 2:24am Aug 19, 2009 2:24am
Quoting Warmagus
Hi guys.

This is one of those legendary pin bars that a lot of people haven't seen because its the Euro vs the Check Krouna. Like James has taught us, if you're willing to wait for setups like this it's tough to lose.

That would be an A+ PB. lol

I laughed because its so obvious and great.

If one wants to know if a PB looks good enough to trade, no matter the time frame, one only has to bring this chart up and ask," Does it look like this one?" If not, then pass on it. lol
Indicators show the past. Price Action "Indicates" the future.
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