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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

  • #48,181
  • Nov 16, 2009 7:27pm Nov 16, 2009 7:27pm
Quoting letitride
Dude you would be surprised how old she is. Asian girls age well. Just ask my wife
Amen to that!
One Mind, Any Market
  • #48,182
  • Nov 16, 2009 7:38pm Nov 16, 2009 7:38pm
Quoting Dan Gilbert
4HR inside bar on NZDUSD... just crossed and now under the .7500

based on the monthly pin, daily high, and hourly pin, I would anticipate a break downward, instead of upward. Any takers?
Not for me Dan. I agree it looks like it SHOULD be ready for a short BUT
Above all moving averages on all time frames.
The 1H pin is just above the daily pivot which is also at a PPZ around 0.7467 Similar story on the 4H and the monthly pin is near to failing.
Too much support short to make the RR viable.
Also a counter-trend trade.
Good Luck if you go for it.
  • #48,183
  • Nov 16, 2009 8:00pm Nov 16, 2009 8:00pm
I know lower time (1 hr)frames are not the best setups. USD/JPY pinbar off 89.00 looks tempting after a break of 89.20.
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  • #48,184
  • Nov 16, 2009 8:10pm Nov 16, 2009 8:10pm
Quoting wired2199
I know lower time (1 hr)frames are not the best setups. USD/JPY pinbar off 89.00 looks tempting after a break of 89.20.
I have an even better pin on the 4 hour chart, however its not one im willing to take as it is going against a very strong down trend.
  • #48,185
  • Nov 16, 2009 9:06pm Nov 16, 2009 9:06pm
Quoting el_duende
I have an even better pin on the 4 hour chart, however its not one im willing to take as it is going against a very strong down trend.

It looks like a not-so bad trade on the 4hr as well though.... Practice tight managment....
Many choose unhappiness over uncertainty.
  • #48,186
  • Edited 10:48pm Nov 16, 2009 9:25pm | Edited 10:48pm
Euro H/S Breakout Pullback - Step 1

Hi Lacika,

I've spent more time on this to help a few others out with choosing trades and levels a little better as well, so it's a little more involved than a quick chart would have been just for you.

Chart 1....
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Bundy's status today: "Waiting..."
  • #48,187
  • Edited 9:37pm Nov 16, 2009 9:26pm | Edited 9:37pm
Euro H/S Breakout Pullback - Step 2
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Bundy's status today: "Waiting..."
  • #48,188
  • Edited 9:37pm Nov 16, 2009 9:26pm | Edited 9:37pm
Euro H/S Breakout Pullback - Step 3
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Bundy's status today: "Waiting..."
  • #48,189
  • Edited 9:38pm Nov 16, 2009 9:26pm | Edited 9:38pm
Euro H/S Breakout Pullback - Step 4
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Bundy's status today: "Waiting..."
  • #48,190
  • Edited 10:43pm Nov 16, 2009 9:27pm | Edited 10:43pm
Euro H/S Breakout Pullback - Step 5
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Bundy's status today: "Waiting..."
  • #48,191
  • Edited 10:50pm Nov 16, 2009 9:27pm | Edited 10:50pm
Euro H/S Breakout Pullback - Step 6

What you should see is that the eventual stop placement was not as close as I know a lot of newcomers would use.

There is a second confirmation here too when the eventual inside bar is created (closes) after the touch entry and is then broken to the downside. That could be played as a trade in itself.

Stops were set at break-even somewhere just after that original bearish bar was broken down low. This was done a little later for me, this time, when I got back to the screen late,but still way before it would have hit the entry price. ( The bearish bar I am talking about is the one that broke the H/S neck line and closed way below it )

Entry was just after price stalled (watching 5 min chart, for resolution purposes). 1.4954. Could have been better but forgot to log in to trade screen and have ready. LOL

Original stop was at 1.4994 or round abouts. ...well back from touch and allowing for the common "quick" spikes that often happen in this situation.

There are times when you can tighten your stop a lot further, but not this one. Usually when there is very clear round numbers in confluence with other studies like Major pivots etc.
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Bundy's status today: "Waiting..."
  • #48,192
  • Nov 16, 2009 10:28pm Nov 16, 2009 10:28pm
Hi guys, do u pay attention to weekly trend when trading daily PA? I notice that most daily PA fail if we take as CT and those that go with the trend even the B / C grade most likely will work. Any comment?
  • #48,193
  • Nov 16, 2009 10:30pm Nov 16, 2009 10:30pm
Wow bundy, thanks so much for that full blown lesson on the public forum! I'm going to re-read it thoroughly tomorow. Good stuff!
Many choose unhappiness over uncertainty.
  • #48,194
  • Nov 16, 2009 10:32pm Nov 16, 2009 10:32pm
Quoting letitride
Dude you would be surprised how old she is. Asian girls age well. ...
asian people in general.... if they eat & live mainly the 'traditional Asian way'.
it would be a different story if Asians follow the "Western lifestyle"


Quoting bundyraider
Euro H/S Breakout Pullback - Step 6
....
Nice post, Sir. thanks!
  • #48,195
  • Nov 16, 2009 10:35pm Nov 16, 2009 10:35pm
Quoting esbatu
...do u pay attention to weekly trend when trading daily PA?... Any comment?
yes, imo, it pays to consult the higher TF.
same goes with other TFs: if u trade H1 or H4, it's best to consult the higher TFs (Daily &/or weekly)
  • #48,196
  • Nov 16, 2009 11:10pm Nov 16, 2009 11:10pm
Quoting KissFan
That's good if you are trading only A+ set ups. It's not if it's because " hey it's only 65 cents a pip". Most likely I'm still not picky enough. It's unsettling to me when I see someone like Bundy post "only took one trade this week". It makes me take pause. No offense Bundy you know I hang on your every post brother. Yall have a good weekend!
No need to feel unsettled about that!!

I've gone further than you need to. I'm not only limiting my trades to fantastic locations, but have gone a step further and only taking trades I can "manage" my favourite ways. The trades where I feel "in the zone" when I enter, manage, set exits and so on.
(draw downs are getting VERY low on many of my trades now)

...This has me turning the computer off if there's not even a clear PPZ or major trend line anywhere near by. So with that, I miss a few perfectly good trades too that I'd take if I was sitting here.
That E/U trade I just laid out above was like that. Just happened to look at the charts at the right time.

And certainly no offence ever taken.
Bundy's status today: "Waiting..."
  • #48,197
  • Nov 17, 2009 1:48am Nov 17, 2009 1:48am
Quoting bundyraider
I've spent more time on this to help a few others out with choosing trades and levels a little better as well, so it's a little more involved than a quick chart would have been just for you.
Chart 1....
Wow... Just was curious which kind of BO point You chose to enter, and what a detailed trading lesson We got! (That wedding on the weekend had to really refresh You!)

Personally, I advise not just carefully read the trade explanation, but read the data, what a "lot" of trades reach 'Mr. Bundy' quality level.

Thank You very much for Your reply, it quite entertained Me,
NL
  • #48,198
  • Nov 17, 2009 4:40am Nov 17, 2009 4:40am
In the making ....
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  • #48,199
  • Nov 17, 2009 4:56am Nov 17, 2009 4:56am
Quoting bundyraider
[size=3]Euro H/S Breakout Pullback - Step 6

What you should see is that the eventual stop placement was not as close as I know a lot of newcomers would use.

There is a second confirmation here too when the eventual inside bar is created (closes) after the touch entry and is then broken to the downside. That could be played as a trade in itself.

Stops were set at break-even somewhere just after that original bearish bar was broken down low. [size=2]This was done a little later for me, this time, when I got back to...
...very nice bundy!!! cheers. great insights !!
i particularly liked your stop placement, i think i would have had mine slightly above 150.00. i would have missed that minor PPZ level and the opportunity for a bigger position. nice one, i will be looking out for those in future! it also helps me be patient when i see statements like "i KNOW it is best to wait for price to get somewhere around there before entering" i also KNOW it usually does but not always have the patience to wait! lol still one of the qualities of trading i miss!
great posts.
cheers
jon
PATIENCE... DISCIPLINE
  • #48,200
  • Nov 17, 2009 5:47am Nov 17, 2009 5:47am
thinking about shorting GBP/USD based on BEOB if we get a close below 1.6800.

4hr chart (ibfx)
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