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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

  • #44,761
  • Sep 28, 2009 4:12pm Sep 28, 2009 4:12pm
Quoting dmc
These are the days that drive me nuts

Looking at the GBPCHF & EurGBP they are so tempting beautiful pins with great space. I am just trying to break the habbit of catching the falling knife....
I agree..if they were with the trend, i think i'd played them without any doubt (they could be defined killer PB); but they are counter-trend in the short term, and it is very dangerous..
  • #44,762
  • Sep 28, 2009 4:14pm Sep 28, 2009 4:14pm
Joel,

Here I plaid today a "Ben-rac" trade

I have also used this chart to show what I mean by checking div on a closed line chart, and how do they look correlated.

I had a very small stop on this trade. Why? Nature of breakouts - if it would reach that high, I'm sure it was enough for all the orderflow to trigger and shoot price to the moon. So it was a chance to take a calculated risk and aim for a large R:R.

ok, tomorrow school again, going to take a shower and prepare my stuff, bye bye


Ben
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  • #44,763
  • Sep 28, 2009 4:16pm Sep 28, 2009 4:16pm
Quoting dmc
These are the days that drive me nuts

Looking at the GBPCHF & EurGBP they are so tempting beautiful pins with great space. I am just trying to break the habbit of catching the falling knife....
The most tempting for me is the eur/gbp. It was rather easy for me to pass on gbp/chf and the nzd/jpy

I am also going to pass on eur/gbp just lack of confluence and uncertainty. I have learned that passing is always better then itching to trade.

Here is where price is likely to go. But everyone MUST trade what THEY see. That is what makes a trader

I was hoping to see a strong close on gbp/jpy which would have increased my confidence all across. That lack of pinbar close. I am just going to watch the smaller timeframes for clues.



Mike
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  • #44,764
  • Sep 28, 2009 4:19pm Sep 28, 2009 4:19pm
Quoting bakko85
I agree..if they were with the trend, i think i'd played them without any doubt (they could be defined killer PB); but they are counter-trend in the short term, and it is very dangerous..
hi bakko

on my charts ,on the daily its a bearish outside bar not closed yet,
not a pin
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  • #44,765
  • Sep 28, 2009 4:22pm Sep 28, 2009 4:22pm
Quoting desperate
hi bakko

on my charts ,on the daily its a bearish outside bar not closed yet,
not a pin
Hey D

Careful here that isn't an outside bar. It must have a higher HIGH then the previous bars High as well.

Mike
  • #44,766
  • Sep 28, 2009 4:25pm Sep 28, 2009 4:25pm
Quoting dmc
These are the days that drive me nuts

Looking at the GBPCHF & EurGBP they are so tempting beautiful pins with great space. I am just trying to break the habbit of catching the falling knife....
I have a little saying printed in BOLD above my monitors.

DON'T THINK
HAVE RULES
PLAN
EXECUTE

Here is are charts I posted on EG, at 61.8 RT

http://www.forexfactory.com/showpost...&postcount=159

http://www.forexfactory.com/showpost...postcount=1249
  • #44,767
  • Sep 28, 2009 4:27pm Sep 28, 2009 4:27pm
Quoting dmc
These are the days that drive me nuts...
Hi Dmc. What is the falling knife
  • #44,768
  • Sep 28, 2009 4:31pm Sep 28, 2009 4:31pm
Quoting mbqb11
The most tempting for me is the eur/gbp. It was rather easy for me to pass on gbp/chf and the nzd/jpy

I am also going to pass on eur/gbp just lack of confluence and uncertainty. I have learned that passing is always better then itching to trade.

Here is where price is likely to go. But everyone MUST trade what THEY see. That is what makes a trader

I was hoping to see a strong close on gbp/jpy which would have increased my confidence all across. That lack of pinbar close. I am just going to watch the smaller timeframes for clues.

Mike
Let's see how they break Mike.
Indicators show the past. Price Action "Indicates" the future.
  • #44,769
  • Sep 28, 2009 4:32pm Sep 28, 2009 4:32pm
Quoting atton
Hi Dmc. What is the falling knife
When price is dropping very hard and fast(ie very big bearish bars). Trying to catch it with a small bar is dangerous. I like to personally see an equally big bullish bar to reverse

Mike
  • #44,770
  • Sep 28, 2009 4:33pm Sep 28, 2009 4:33pm
Quoting jarroo
Let's see how they break Mike.
hehe Anyone who trades Jarroo style is licking their chops I know that much
  • #44,771
  • Sep 28, 2009 4:35pm Sep 28, 2009 4:35pm
Quoting mbqb11
hehe Anyone who trades Jarroo style is licking their chops I know that much

Oh Yeah!
Indicators show the past. Price Action "Indicates" the future.
  • #44,772
  • Sep 28, 2009 4:35pm Sep 28, 2009 4:35pm
Quoting mbqb11
When price is dropping very hard and fast(ie very big bearish bars). Trying to catch it with a small bar is dangerous. I like to personally see an equally big bullish bar to reverse

Mike
That's what I meant when I said:

"The only thing that does a bit scare me though, is a sharp move. That means there is momentum. I will prefer a consolidation down with a bit traffic, than trading against a very sharp move."

You're the man Mike

Ben
  • #44,773
  • Sep 28, 2009 5:09pm Sep 28, 2009 5:09pm
Quoting benji533
Here are another two examples from today. If My round number is also a very major round number' or a strong price pivot, I just move my stop to BE asap, and let my position ride to the moon. This trade I managed tight because it wasn't more than a round number. It went much further, but I don't care. I played the bar with an half stop, which doubled my position size, and I am happy.

Now, you see my charts and think "wow! how does that kid trade like that?!". Well, I am telling you that I have spent way too much hours next to the computer in...

Great post Ben.

Go, Ben, Go!
Indicators show the past. Price Action "Indicates" the future.
  • #44,774
  • Sep 28, 2009 5:15pm Sep 28, 2009 5:15pm
Quoting desperate
hi bakko

on my charts ,on the daily its a bearish outside bar not closed yet,
not a pin

Hi D,

I see you are from Oz. Here in London I have a very similar chart.
If you double your chart up to 2 days, it will no doubt produce a two day pin.

I am considering taking it.

I wonder if a more senior J16 would be able to advice us on this.

My take is if I zoom out in time, add on the five hour time difference on to the beginning of the day. I am seeing a pin (although broken into hourly segments). We would be using the same high for stops and same profit targets. Does it matter?

I am new here so don't read to much into my views.

Jason
  • #44,775
  • Sep 28, 2009 7:17pm Sep 28, 2009 7:17pm
Does anyone know how long it usually takes an Administrator to respond to a complaint?

I want to give it time, but I also want to know what is going on with it. If I at least knew how long it usually took, I would feel better.

I do not think I can be part of a site that allows that type of behavior, and does nothing about it.

Que
Que
  • #44,776
  • Sep 28, 2009 7:22pm Sep 28, 2009 7:22pm
Quoting Que
Does anyone know how long it usually takes an Administrator to respond to a complaint?

I want to give it time, but I also want to know what is going on with it. If I at least knew how long it usually took, I would feel better.

I do not think I can be part of a site that allows that type of behavior, and does nothing about it.

Que
What is going on?
I'm pretty much done with all this ...
  • #44,777
  • Sep 28, 2009 7:26pm Sep 28, 2009 7:26pm
Please advise, Ive got a killer PB formed on the Daily on GBP/JPY.... Right off of weekly support... Break is at 143.13
Dr. C
  • #44,778
  • Sep 28, 2009 7:26pm Sep 28, 2009 7:26pm
My rules say dont try to catch falling knife lol


Quoting thesnacker
I have a little saying printed in BOLD above my monitors.

DON'T THINK
HAVE RULES
PLAN
EXECUTE

Here is are charts I posted on EG, at 61.8 RT

http://www.forexfactory.com/showpost...&postcount=159

http://www.forexfactory.com/showpost...postcount=1249
  • #44,779
  • Sep 28, 2009 7:27pm Sep 28, 2009 7:27pm
An individual has decompiled and posted source code of mine. After asking him to remove and please refrain from doing so in the future, I was told he will decompile and post any of my code he feels like (Paraphrased).

Que

Quoting StoragePro
What is going on?
Que
  • #44,780
  • Sep 28, 2009 7:33pm Sep 28, 2009 7:33pm
Quoting Que
An individual has decompiled and posted source code of mine. After asking him to remove and please refrain from doing so in the future, I was told he will decompile and post any of my code he feels like (Paraphrased).

Que
Nice. We are attracting this kind of thing more now since the commercial forum. You are not the only one abused.
I'm pretty much done with all this ...
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