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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

  • #50,741
  • Jan 5, 2010 7:21am Jan 5, 2010 7:21am
can we consider that it pinbar ---
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  • #50,742
  • Jan 5, 2010 7:29am Jan 5, 2010 7:29am
Quoting djmanu
True but it's uncommon that the bounce occurs exactly at the right value, not 1 pip more or less
Are you still in ?
I am in but i will be out if it goes below 146.90.

I mean if you wanted to enter at 147 you should have set your limit at 147+spread.
  • #50,743
  • Jan 5, 2010 7:49am Jan 5, 2010 7:49am
Quoting Jlr
Took the same trade you did on u/cad. IMO it was just some bad luck, I think it was a good trade. No biggie really
I agree with you. Don't take my tone wrong here, I'm just not happy with myself. I traded long just above support which is generally a good idea. Looking back though, that daily pin delivered me the goods already. Once out I should have waited for bar confirmation even if it was on lower TF's before getting back in. If you look back on the 1 hr chart, my entry long was at the break of a most beautiful 1 hr pin showing short. I couldnt have entered at a worse time. I just didnt see it and it would have kept me out of the trade. Simple as that. Whoever made my money deserves it. I get the experience and will use it for future benefit.

K.I.S.S.
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  • #50,744
  • Jan 5, 2010 7:54am Jan 5, 2010 7:54am
Quoting Bemac
On the threshold KF. I wish you the best o' British Luck. Seriously.

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Big battle going on now between 1.6 and 1.6050. Given the location, that is to be expected.

K.I.S.S.
  • #50,745
  • Jan 5, 2010 8:00am Jan 5, 2010 8:00am
Quoting est1958
can we consider that it pinbar ---
yes, the open & close of the first & last bar is near each other (looking at your chart, the close seems to be below the open, making this a pinbar with a huge nose/tail).
having said that, dont make it difficult for yourself. consult an H4 chart & u will most likely have a 2-bar PB, no need to imagine if "9 bars will turn into/form a pinbar or not".
  • #50,746
  • Jan 5, 2010 8:04am Jan 5, 2010 8:04am
Quoting nasir.khan
I am in but i will be out if it goes below 146.90.
You're brave with your stop there Nasir ...

Ben

..
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  • #50,747
  • Jan 5, 2010 8:10am Jan 5, 2010 8:10am
Quoting KissFan
Big battle going on now between 1.6 and 1.6050. ..
...
How do u see this getting resolved? future move?
i'll be watching this too. especially if the price will move convincingly through the 1.57 - 1.58 area (late 2009 support)... if it will, then we might see 1.50 -1.53. by then we can talk about 1.40's

watching, trading , learning
  • #50,748
  • Jan 5, 2010 8:14am Jan 5, 2010 8:14am
Quoting joelcf
The key, I think, is to doing all your markup/PPZs/trade ideas at home at night so you can just eyeball the chart quickly and move on if nothing is happening.
I did this one week ago, i came home very late and i checked the charts and saw some good oportunities, i even put some pivots on the charts but the i became sleepy and i was to lazy to enter into that trades and the next day when i woke up i saw that i was right about 3 out of 4 trades and i would gain about 200pips ... Im still angry about that...
  • #50,749
  • Jan 5, 2010 8:18am Jan 5, 2010 8:18am
Quoting benji533
You're brave..
..
Ben, i think u saw these too
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  • #50,750
  • Jan 5, 2010 8:19am Jan 5, 2010 8:19am
btw about the GBPJPY i think it will go lower to 144
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  • #50,751
  • Jan 5, 2010 8:20am Jan 5, 2010 8:20am
Quoting ppfx
..when i woke up i saw that i was right about 3 out of 4 trades and i would gain about 200pips ... Im still angry about that...
it happens...
just get over it & be prepared next time.
& nice potential trades will wake u up naturally, no matter what.
  • #50,752
  • Jan 5, 2010 8:29am Jan 5, 2010 8:29am
Quoting supremeChaos
How do u see this getting resolved? future move?
i'll be watching this too. especially if the price will move convincingly through the 1.57 - 1.58 area (late 2009 support)... if it will, then we might see 1.50 -1.53. by then we can talk about 1.40's

watching, trading , learning
I have some tp scheduled at 1.55 but this like any longer term trade can evolve. My usual trade M.O. is to snipe and get out. I started experimenting with longer term at the end of 2009 with mixed but promising results. Don't put too much stock in what I'm going to say next but with the dollar strengthening against the yen and the gbpusd already in a longer term downtrend and regularly breaking daily tf trendlines I can't help but be bearish on the pair. I see 1.575 then 1.555 in the not too distant future.

K.I.S.S.
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  • #50,753
  • Jan 5, 2010 8:30am Jan 5, 2010 8:30am
Quoting benji533
You're brave with your stop there Nasir ...

Ben

..
oh we got another confirmation and who wants to go against benji.and I am short UJ at 91,90
  • #50,754
  • Jan 5, 2010 8:30am Jan 5, 2010 8:30am
supremechaos youre right its just that previously i made a lot of mistakes when i missed some good oportunites and then i rushed in some other trades without thinking much and then i lost...
  • #50,755
  • Jan 5, 2010 8:37am Jan 5, 2010 8:37am
Quoting KissFan
.. I see 1.575 then 1.555 in the not too distant future. ..
to u, what's the significance of 1.5750 & 1.5550?
1.5750 = weekly support?

curious as always, thanks Sir
EDIT: i remember this post in mid-December.
gbp bear bear bear, lol http://cdn.forexfactory.com/images/smilies/yim/smug.gif
Let's see..
  • #50,756
  • Edited 10:04am Jan 5, 2010 8:43am | Edited 10:04am
Quoting ppfx
supremechaos youre right its just that previously i made a lot of mistakes when i missed some good oportunites and then i rushed in some other trades without thinking much and then i lost...
For me it was always a vicious cycle.

Few mistakes...losses...panic...more nervous trades resulting in more mistakes...more losses...more panic and so on

Don't forget to clear your head of anxiety if you've lost and excitement if you have won before you move on to the next one, helps tremendously.



g.
I believe . . .
  • #50,757
  • Jan 5, 2010 8:45am Jan 5, 2010 8:45am
thanks ghous i know that but its easier said that done
  • #50,758
  • Jan 5, 2010 8:52am Jan 5, 2010 8:52am
Quoting ppfx
thanks ghous i know that but its easier said that done
dont worry... the fact that u are here says a lot, to me at least.
learning, reading, trading, watching charts... this is not simple (for people your age at least; u could easily be partying o playing sports or whatever right now, instead of trading/reading threads like this)

You & ghous are of the same age. imho, u are lightning years ahead of most guys your age. u are planting seeds for a very bright & early future, just keep it up.
  • #50,759
  • Jan 5, 2010 8:58am Jan 5, 2010 8:58am
Quoting nasir.khan
oh we got another confirmation and who wants to go against benji.and I am short UJ at 91,90
This is a great pattern imo, and I won't be surprised if it will work out. But my gut feeling is warning me here...there are better opportunities out there
  • #50,760
  • Jan 5, 2010 9:00am Jan 5, 2010 9:00am
Quoting ghous
Don't forget to clear your head of anxiety if you've lost and excitement if you have won
In other words ''clear your head after each trade'' no matter how it ends, wright?
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