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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

  • #49,041
  • Dec 1, 2009 5:36pm Dec 1, 2009 5:36pm
Quoting dobe_r_man
You (intraday) guys are having all the fun, I am only watching three pairs that interest me right now but still waiting on price action to develop at levels of interest.

I ended with a positive return for November (albeit small...esp. compared to October) but that makes nine months straight of profit. I shouldn't jinx myself by saying things like that............ha ha.

I am not sure if I am just getting pickier or lazy.......hmmmmm

Nathan

Well done! I can't wait to be able to say the same 9 months you can practically call consistent!
  • #49,042
  • Dec 1, 2009 5:45pm Dec 1, 2009 5:45pm
Quoting djmanu
Did you see the 4H bullish PB on EURAUD on a PPZ ? Any thought about it ?
pretty small, not convincing
  • #49,043
  • Dec 1, 2009 5:52pm Dec 1, 2009 5:52pm
been waiting for this a while...
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Many choose unhappiness over uncertainty.
  • #49,044
  • Dec 1, 2009 6:30pm Dec 1, 2009 6:30pm
is it ok to leave positions open over the weekend???? I have two positions that both turned into big winners this week but I closed them on friday because of weekend fear..... I wish I could have left them up.....
Many choose unhappiness over uncertainty.
  • #49,045
  • Dec 1, 2009 6:30pm Dec 1, 2009 6:30pm
Quoting Dan Gilbert
been waiting for this a while...
I am assuming you are waiting for it to break downwards before you enter right?
  • #49,046
  • Dec 1, 2009 6:37pm Dec 1, 2009 6:37pm
Quoting Concept
I am assuming you are waiting for it to break downwards before you enter right?
correct.
Many choose unhappiness over uncertainty.
  • #49,047
  • Dec 1, 2009 7:02pm Dec 1, 2009 7:02pm
Quoting Dan Gilbert
is it ok to leave positions open over the weekend???? I have two positions that both turned into big winners this week but I closed them on friday because of weekend fear..... I wish I could have left them up.....
It depends on your strategy, IMHO, as long as you have a stop loss in place. I trade off the Daily and 4-hour charts mostly and my stop loss would cover any normal volatility (or gap) that occurs over the weekend. If I had a trade that I enter from the hourly chart, I probably wouldn't leave the position open over the weekend.
  • #49,048
  • Dec 1, 2009 7:24pm Dec 1, 2009 7:24pm
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.
First of all, congratulations on beginning your trading at a higher time frame. You trying to take in the information in this thread demonstrates that you're serious with trading. That being said, I personally don't look at the monthly chart because I don't think a lot of traders use this time frame to make their decisions (I know many will disagree with me on this).

Remember price moves because of "agreement" between buyers and sellers. Technical analysis buyers and sellers make their decisions based on where price is located (s/r, trend lines, etc.) on the chart they are looking at. Monthly time frame is just too long for a trader and I don't think it is relevant enough to make entry/exit decision. One may look at it to get a sense of the trend, but that's about all I would do.

I welcome discussions
  • #49,049
  • Dec 1, 2009 7:28pm Dec 1, 2009 7:28pm
Quoting MattW
I'm looking to take the pin on USD/CAD - it's off the 1.0400 ppz and has good form with plenty of space.

First trouble spot the old trend-line above, and then 1.0550.

Any thoughts?
It's made a nice move so far, so good for you and I hope it continues I personally decided not to take it because the pin bar's size is relatively small compared to the previous candles and that it would be a counter-trend trade.
  • #49,050
  • Dec 1, 2009 9:49pm Dec 1, 2009 9:49pm
Double inside bars on eur/jpy H4. Half taken at 131.51, stops moved to break-even.

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skype: ststroud. let's talk trading.
  • #49,051
  • Dec 1, 2009 10:16pm Dec 1, 2009 10:16pm
Quoting breakfastbar
It depends on your strategy, IMHO, as long as you have a stop loss in place. I trade off the Daily and 4-hour charts mostly and my stop loss would cover any normal volatility (or gap) that occurs over the weekend. If I had a trade that I enter from the hourly chart, I probably wouldn't leave the position open over the weekend.
I figured it is a judgement thing.... live and learn...
Many choose unhappiness over uncertainty.
  • #49,052
  • Dec 2, 2009 12:22am Dec 2, 2009 12:22am
Quoting ljr
Hi Danny

I didn't notice it as an 8 hour pin but I am trading it as an inside bar on the break of the bar before ( mother candle ). My order was just triggered by about 2 pips and it has retraced a bit now but I'm watching to see if it will hold below 8300
This didn't work out. Took a full bar loss as there was no room to move to BE.
  • #49,053
  • Dec 2, 2009 1:09am Dec 2, 2009 1:09am
this wont come back i know that.
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  • #49,054
  • Dec 2, 2009 1:15am Dec 2, 2009 1:15am
http://www.forexfactory.com/showthread.php?t=9634

One Mind, Any Market
  • #49,055
  • Dec 2, 2009 2:32am Dec 2, 2009 2:32am
Now, when you get two losing trades....all you need is this.........AWESOME CYRUS.......like the one favourite pair....hehehehehhee

Quoting Cyrus
http://www.forexfactory.com/showthread.php?t=9634

  • #49,056
  • Dec 2, 2009 3:17am Dec 2, 2009 3:17am
Quoting Cyrus
http://www.forexfactory.com/showthread.php?t=9634

That made my day. LOL!
  • #49,057
  • Dec 2, 2009 3:22am Dec 2, 2009 3:22am
Update on that USD/CAD pin: out at BE.

Thanks to everyone for their comments earlier, again I've learnt something today

I'm pleased to see price hitting the old trendline and stalling as first resistance just as I predicted - looks like I might be getting to grips with all this
  • #49,058
  • Dec 2, 2009 3:50am Dec 2, 2009 3:50am
Quoting MattW
Update on that USD/CAD pin: out at BE.

Thanks to everyone for their comments earlier, again I've learnt something today

I'm pleased to see price hitting the old trendline and stalling as first resistance just as I predicted - looks like I might be getting to grips with all this
Same as you but i closed it with ~28pips gain, very interresting indeed because I didn't see a S/R at 1.045 when i took the trade ... need to work on it.
Othewise, I don't see any interresting setups this morning (on 4h).
  • #49,059
  • Edited 4:32am Dec 2, 2009 4:21am | Edited 4:32am
Quoting nasir.khan
this wont come back i know that.
The aussie is in a major trend up, I would not trust shorting it just yet
I would be surprised if it can hold at these levels I see it moving up to 9330
Third interest rate hike in as many months yesterday I think a lot of carry trade behind it now...
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Without women, money would have no meaning - Aristotle Onassis
  • #49,060
  • Dec 2, 2009 5:05am Dec 2, 2009 5:05am
EURJPY 4h is at a nice area (PPZ, TrendLine, in Short LT Trend) but no PB, waiting for it
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