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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

  • #49,001
  • Dec 1, 2009 6:26am Dec 1, 2009 6:26am
Quoting icarusfx
well js, all the big winners have one thing in common.... they were all taken with the long term trend.

stack the odds my friend!

regards

ic
I didn't see the support @ 1.0 when i took my short trade to the support below (0.994).
I'm still in just because i'm with LT trend, so that support (1.0) has higher probability to break.
  • #49,002
  • Dec 1, 2009 6:42am Dec 1, 2009 6:42am
Quoting MattW
Well played. I'm thinking wait for a pullback and look to see some PA showing the trendline as support and then jump in short - it's with the macro trend.

That said there seems to be a PPZ in the range 1.0400 to 1.0450 so we might yet see price just blast straight back up again.
I wouldn't play this as a BO+PB pattern. Too risky IMO.

This one is for rac

Latter buddies..
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  • #49,003
  • Dec 1, 2009 6:53am Dec 1, 2009 6:53am
Quoting benji533
I wouldn't play this as a BO+PB pattern. Too risky IMO.

This one is for rac

Latter buddies..
nice one benji I remeber back that there I have exited my short position and wanted to revers for long but was off the market and missed the train.

today was no action for me,except the trade from yesterday

time for taking TP

wish you the best.

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  • #49,004
  • Dec 1, 2009 7:52am Dec 1, 2009 7:52am
Hi guys, I am starting to demo based on what I read on this thread. I spotted this pin bar on the monthly NZDUSD, which happened two months ago. Looks like it happend during an uptrend and there are some empty space on the left. Could it be a good long term short? Thanks.
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  • #49,005
  • Dec 1, 2009 8:09am Dec 1, 2009 8:09am
This is the only trade I took yesterday. Set my j16 ea and went to bed. Half position successful, other half failed at B/E (see pic)

I left the j16 ea on my chart for proof of how I let it play
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Many choose unhappiness over uncertainty.
  • #49,006
  • Dec 1, 2009 8:27am Dec 1, 2009 8:27am
because of the fact I had the cadjpy trade open, I had to pass on this USDCAD breakout trade I really wanted to take. I saw the pin and everything.
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Many choose unhappiness over uncertainty.
  • #49,007
  • Dec 1, 2009 8:33am Dec 1, 2009 8:33am
note: I do recognize these two trades were essentially hedges against each other. tight management was played on my CADJPY because of this.
Many choose unhappiness over uncertainty.
  • #49,008
  • Dec 1, 2009 8:52am Dec 1, 2009 8:52am
Quoting triger88990
nice one benji I remeber back that there I have exited my short position and wanted to revers for long but was off the market and missed the train.

today was no action for me,except the trade from yesterday

time for taking TP

wish you the best.

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Awesome triger!
You are nailing them

If I remember well, you took the EU long as well, right?

I think I will soon fold? The DJI is hitting some resistance as well.

By the way, I'm totally new to this concept. Can you please elaborate abit on how do you use the DJI and DOW for your forex trades? Please?
Damn, I know it is all here in this thread offered on a golden plate. I just don't have time to do FX-homework. Need to make an appointment with rac's posts sometime soon
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  • #49,009
  • Dec 1, 2009 9:13am Dec 1, 2009 9:13am
I closed my USD/CHF short trade at B/E, seems like the 1.0 support is still holding.
  • #49,010
  • Dec 1, 2009 9:33am Dec 1, 2009 9:33am
Took some profit on this one leaving the rest for take profit at 131.00 if it reaches. I was dissapointed in missing the couple nice pins early in the European session on the 1H, but being on the east coast sometimes I feel like I'm playing catch up. I know this is a bad way to look at it, if i am patient I will get my fair share. Good week already for me now I can chill.
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"Whether you think you can or can't, you're right." Henry Ford
  • #49,011
  • Dec 1, 2009 10:00am Dec 1, 2009 10:00am
Quoting benji533
Awesome triger!
You are nailing them

If I remember well, you took the EU long as well, right?

I think I will soon fold? The DJI is hitting some resistance as well.

By the way, I'm totally new to this concept. Can you please elaborate abit on how do you use the DJI and DOW for your forex trades? Please?
Damn, I know it is all here in this thread offered on a golden plate. I just don't have time to do FX-homework. Need to make an appointment with rac's posts sometime soon

I only use dji for my yen crosess needs,also look at xxx/chf pairs,and some news. I'm looking off S/R waiting for PA there and if those level hold, the apetitive will increase on the yens.

For fiber,aussie, cabel, lonnie and swissy I'm loking for clues on oil and gold, and also some important news.

hope that helps.

Ps: On the fiber I was off the market at that moment, have lost the train and forget it after the facts, I was looking at it and expected that moves

wish you the best!!
  • #49,012
  • Dec 1, 2009 10:08am Dec 1, 2009 10:08am
Quoting triger88990
I only use dji for my yen crosess needs,also look at xxx/chf pairs,and some news. I'm looking off S/R waiting for PA there and if those level hold, the apetitive will increase on the yens.

For fiber,aussie, cabel, lonnie and swissy I'm loking for clues on oil and gold, and also some important news.

hope that helps.

Yep that helps, thanks man.
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Ps: On the fiber I was off the market at that moment, have lost the train and forget it after the facts, I was looking at it and expected that moves

wish you the best!!
ohh yea my mistake, you have just told me that in your previous post.

Thanks a lot and keep your posts coming dude

Ben
  • #49,013
  • Dec 1, 2009 10:28am Dec 1, 2009 10:28am
Quoting countmybones
Hi guys, I am starting to demo based on what I read on this thread. I spotted this pin bar on the monthly NZDUSD, which happened two months ago. Looks like it happend during an uptrend and there are some empty space on the left. Could it be a good long term short? Thanks.

Hey Count

It could be a potential sign of weakness finally showing up. We have that first pin that barely triggered, and then that second semi looking pin. This could be a sign that we are finally going to get some kind of retrace here.

Best
Mike
  • #49,014
  • Dec 1, 2009 12:16pm Dec 1, 2009 12:16pm
Next?
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  • #49,015
  • Dec 1, 2009 12:19pm Dec 1, 2009 12:19pm
Im watching this pair as it is creating a DHLC at some resistance. I know the bar have not closed yet but IF it do close as a DHLC would it be considered an ok trade?

This is what i see:

- Nice resistance just above with tons of bar lows
- Downtrend
- Below huge round number 1.0000
- Pair is on its way to ATL (400 pips down)
- Potentional DHLC (if it close when its looking as it do right now)
- Few trouble areas before ATL
- Bearish strenght because of friday pinbar

What do you guys say? Mike?
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  • #49,016
  • Dec 1, 2009 12:31pm Dec 1, 2009 12:31pm
Quoting ekling
Im watching this pair as it is creating a DHLC at some resistance. I know the bar have not closed yet but IF it do close as a DHLC would it be considered an ok trade?

This is what i see:

- Nice resistance just above with tons of bar lows
- Downtrend
- Below huge round number 1.0000
- Pair is on its way to ATL (400 pips down)
- Potentional DHLC (if it close when its looking as it do right now)
- Few trouble areas before ATL
- Bearish strenght because of friday pinbar

What do you guys say? Mike?
Hey EK

While I do believe 1.0 is a great level to be looking for trades I would be careful here. Firstly you are trading right into that first low. Now a lot of time price retests that area before a bounce so these trades work out. But a DBHLC would not be strong enough to do this for me. I would like to see a much large BEOB engulfing a wider range to trade this area as a continuation. One such occurred on the Eur/USD which I missed(MBT feed). It was nearly a similar situation but with a much better trigger(consistracy pointed this one out I missed).

Remember we normally want these bars at swing highs. I do trade these as continuations as part of my intraday, but as many will tell you that I am very ultra picky about doing so and there is a lot of criteria that has to meet. This is b/c of the tricky spot it can often put you in.

Hope that helps
Mike
  • #49,017
  • Dec 1, 2009 12:39pm Dec 1, 2009 12:39pm
Quoting benji533
Next?
I've had a rough day trying to get to grips with the way you take these.

Did you take that one on the way up (on first touch) and suffer the drawdown or did you wait for the way down and enter as it passed?

Or was this a pin-break trade rather than a touch trade?
  • #49,018
  • Dec 1, 2009 12:46pm Dec 1, 2009 12:46pm
Maybe USDCAD is the next one (PB on a nice support)
The problem is that I don't like the look of that PB so much, what do u think ?
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  • #49,019
  • Dec 1, 2009 12:57pm Dec 1, 2009 12:57pm
Quoting benji533
Next?
Hey Benji - Great trade! I've been learning loads from your posts. Did you enter this one based on daily S/R with the trend and 50 fib from the daily swing in August? So was your entry at 1.6550?

Also, where did you place your stop on your AU trade? Was it behind the 61.8 fib at around 0.8888?

Cheers
Simon
  • #49,020
  • Dec 1, 2009 1:32pm Dec 1, 2009 1:32pm
great thread. i feel like i've been missing out all this time. £77.4 a month is a bit too much for me right now, but i will definitely take a closer look later on in time. if this forum is still active, i just have a very quick question that has probably been asked before: as well as your wins, is it possible that we maybe see screenshots of your losses? it just seems like it's too good right now.

thanks in advance,
adam
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