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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

  • #48,541
  • Nov 23, 2009 11:31am Nov 23, 2009 11:31am
Quote
Hi Nasir! AUDUSD looks similar on the 1hr. No trades for me yet. I'm still waiting.

HI KISS.

I am in AudUsd also (see last post of last page).

OK Jankone and Ryan you got your 10 PIPs just let go now PLEASSSSSSSSSSE.
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  • #48,542
  • Nov 23, 2009 11:41am Nov 23, 2009 11:41am
Quoting nasir.khan
HI KISS.

I am in AudUsd also (see last post of last page).

OK Jankone and Ryan you got your 10 PIPs just let go now PLEASSSSSSSSSSE.
that's a good one nasir
  • #48,543
  • Nov 23, 2009 12:22pm Nov 23, 2009 12:22pm
Although the USD weakness is the theme today this set up seems to say short the Cable

WEEKLY BEARISH OUTSIDE BAR
MACD DIVER
DAILY PUSH BACK TO 365
ROUND # 1.6600/1.6500
4H PIN fib conf

PROFIT TARGET 1.6550/1.6500 - I am chicken to hold for more because of the USD weakness


Beach
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  • #48,544
  • Nov 23, 2009 12:37pm Nov 23, 2009 12:37pm
Quoting KissFan
Print me a red PB here.

K.I.S.S.
Is this the one you are waiting for?
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  • #48,545
  • Nov 23, 2009 12:39pm Nov 23, 2009 12:39pm
Hello,
Does anyone have Martin Pring's Price Pattern book on pdf? I'm about to purchase it if not.
thanks
  • #48,546
  • Nov 23, 2009 1:45pm Nov 23, 2009 1:45pm
Quoting nasir.khan
HI KISS.

I am in AudUsd also (see last post of last page).

OK Jankone and Ryan you got your 10 PIPs just let go now PLEASSSSSSSSSSE.
hi nasir.khan, nice trades mate,. it looks like Jankone and Ryan closed there possitions just as you asked!! lol.
i also scalped a few pips from a little higher,i now hace closed half and my stops are at BE on both gb/us and eu/us.
eu hase printed a 4h IB on my feed and then a doji like pin bar,and the gb has printed a 4h BEOB wich looks nice..?? lets see how they roll??
jon
PATIENCE... DISCIPLINE
  • #48,547
  • Nov 23, 2009 1:54pm Nov 23, 2009 1:54pm
Quoting KissFan
Hi Nasir! AUDUSD looks similar on the 1hr. No trades for me yet. I'm still waiting.

K.I.S.S.
hi KF, the dows looks like its been capped by that upper TL on the dailys?? can i ask you what makes you hesitant?? is it the quality of the PA or something else??
gb/yen has printed a bearish looking quasi pin bar on the 4h TF right of that TL you drew, does this tempt you to a short??
cheers
jon
p.s. do you have any problems with youe TLs when you change down TFs??? mine seem to move and it renders them useless!! could you ,or anyone comfirm if it has been brocken by the last few bars or not!?!? on my 4h chart price never touched it ,on my 1h chart the last couple of bar piersed it by about 10 pips,also on the 15 min chart. on my alpari feed the 15 min bar hit the line to the pip!! heeeeeeeeeeeelp!!!!!!!! lol
thanx
PATIENCE... DISCIPLINE
  • #48,548
  • Nov 23, 2009 2:21pm Nov 23, 2009 2:21pm
If the dollar is so weak why is everything turning, corn, silver, etc
hmmm gonna wait for this.
  • #48,549
  • Nov 23, 2009 2:26pm Nov 23, 2009 2:26pm
Quoting g_j_hook@yah
hi nasir.khan, nice trades mate,. it looks like Jankone and Ryan closed there possitions just as you asked!! lol.
i also scalped a few pips from a little higher,i now hace closed half and my stops are at BE on both gb/us and eu/us.
eu hase printed a 4h IB on my feed and then a doji like pin bar,and the gb has printed a 4h BEOB wich looks nice..?? lets see how they roll??
jon
Thanks pavulon and g_j_hook@yah

Yea i felt it also .lol

The 2 NZD trades are holding me back but one is on the monthly so cant complain.

Well GU has given birth to 2 PB's on IBFX. lets see.
  • #48,550
  • Nov 23, 2009 2:46pm Nov 23, 2009 2:46pm
Quoting g_j_hook@yah
hi KF, the dows looks like its been capped by that upper TL on the dailys?? can i ask you what makes you hesitant?? is it the quality of the PA or something else??
gb/yen has printed a bearish looking quasi pin bar on the 4h TF right of that TL you drew, does this tempt you to a short??
cheers
jon
p.s. do you have any problems with youe TLs when you change down TFs??? mine seem to move and it renders them useless!! could you ,or anyone comfirm if it has been brocken by the last few bars or not!?!? on my 4h chart price never touched it ,on my 1h...
I'm selling GJ short at the break of the 4hr pin Hook. I'm also in short on AU and GU now. I just wanted to wait for another bar to close below the reversal bar up high. The 150 was lurking higher on the hourlys and I thought that we could possibly be in for a fake. I do also have TL issues when I move up/down on my charts. I just have to live with it for now. Here is my current GJ 4hr chart. I'll be selling a few pips under this 4hr pin.

K.I.S.S.
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  • #48,551
  • Nov 23, 2009 3:13pm Nov 23, 2009 3:13pm
Quoting beach
Although the USD weakness is the theme today this set up seems to say short the Cable

WEEKLY BEARISH OUTSIDE BAR
MACD DIVER
DAILY PUSH BACK TO 365
ROUND # 1.6600/1.6500
4H PIN fib conf

PROFIT TARGET 1.6550/1.6500 - I am chicken to hold for more because of the USD weakness


Beach
You know one of the best things I am learning from this thread is damage control. Opposite pin formed on 4H out @ BE.

I can’t thank Jim, Mike and the rest of the posters enough for this thread

Damage control is the difference that makes the difference- Especially drilling down to smaller timeframes.

A few BE and a couple of runners a week is all you need

Beach
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  • #48,552
  • Nov 23, 2009 3:45pm Nov 23, 2009 3:45pm
Quoting KissFan
Print me a red PB here.

K.I.S.S.
I got a great one on my 4hr...
Many choose unhappiness over uncertainty.
  • #48,553
  • Nov 23, 2009 3:51pm Nov 23, 2009 3:51pm
Quoting KissFan
I'm selling GJ short at the break of the 4hr pin Hook. I'm also in short on AU and GU now. I just wanted to wait for another bar to close below the reversal bar up high. The 150 was lurking higher on the hourlys and I thought that we could possibly be in for a fake. I do also have TL issues when I move up/down on my charts. I just have to live with it for now. Here is my current GJ 4hr chart. I'll be selling a few pips under this 4hr pin.

K.I.S.S.
cheers KissFan, i love to get insights into other traders reasoning, especially those who know what they are doing!
cheers
jon


p.s. i like the look of the eu/us chart also, its been ranging between the 148.00 and 150.00 levels for a while now, will it get that low this time??
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PATIENCE... DISCIPLINE
  • #48,554
  • Nov 23, 2009 3:58pm Nov 23, 2009 3:58pm
us/chf also showing confirming PA, not the strongest in the world but lets see what happens????...
jon
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PATIENCE... DISCIPLINE
  • #48,555
  • Nov 23, 2009 4:23pm Nov 23, 2009 4:23pm
Quoting Dan Gilbert
I got a great one on my 4hr...
sorry, I was looking @ EJ, not GJ....
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Many choose unhappiness over uncertainty.
  • #48,556
  • Nov 23, 2009 5:01pm Nov 23, 2009 5:01pm
Followup on AJ:

Went to BE at 20 pips
Took half profit at 30 pips

Currently hanging out down at 15 pips or so, I am gonna let it do its thing for now. On the 1H it looks like it could have a mini PPZ at a touch above my entry formed now. Let's see if it holds. First trouble spot was bang on at the low of the prev bar (daily), I expect it to test it again. If it breaks that, it should get to 83. I'll then decide if I should take profit or hold on.

Regardless I am in a free trade, with money off the table.

http://i189.photobucket.com/albums/z...on/nov23aj.gif
  • #48,557
  • Nov 23, 2009 5:12pm Nov 23, 2009 5:12pm
What do people make of Cable at the moment?
This is a 2 day chart, showing a pin (Fri/Mon) off 38.2% Fib, with the 150EMA floating below but more importantly the big 1.65 level providing support.

Tradeable?
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  • #48,558
  • Nov 23, 2009 6:00pm Nov 23, 2009 6:00pm
Quoting MattW
What do people make of Cable at the moment?
This is a 2 day chart, showing a pin (Fri/Mon) off 38.2% Fib, with the 150EMA floating below but more importantly the big 1.65 level providing support.

Tradeable?
Hey Matt

Remember we want bullish pins to be at swing lows, this is at a swing high point. Also IMO after that strong run down the previous week it looks like we might retrace that then follow through to the downside. This is also what playing pins at swing points will help you get in. 1.65 is a heavy interest area as can be seen by the heaving consolidation around this pair. I will be watching PA on the lower timeframes on 1.65. A holiday week usually thins out quick, so it will have to be very convincing to get me into anything this week. Be patient, it pays off to wait for the juicy ones

Best
Mike
  • #48,559
  • Edited 7:20pm Nov 23, 2009 6:04pm | Edited 7:20pm
AJ

Stopped out at BE. (82.11)

Got 18 pips at my full lot size. (60% off table at 30 pips profit)


Onto the next trade!

( Any thoughts welcome on how this worked out...)
  • #48,560
  • Nov 23, 2009 6:05pm Nov 23, 2009 6:05pm
hi there,

I discovered this thread only recently and I'd like to thank all of you who contribute. There is really ton of great stuff here... I placed some trades on the demo and they worked out beautifully. Now I finally placed some live trades and I'd like to ask the more experienced traders what would be the most reasonable step to do. I sold the break of the 4h pin bar with stop above the nose. However, the right eye of the pin is by itself a bullish pin bar. Does that automatically cancel the setup or since we have not broken above the left eye the setup is still valid?

I understand that it is up to my risk aversion to determine what to do with the stop. However, considering that the setup has not worked out as great as I would like I think it is time to tighten the stop. Now it is at 6650 maybe I should place is just above the left eye at 6630? Just wondering what is reasonable for a conservative trader...

thanks
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