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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

  • #50,841
  • Jan 6, 2010 5:00am Jan 6, 2010 5:00am
Eur/Gbp.
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I believe . . .
  • #50,842
  • Jan 6, 2010 5:05am Jan 6, 2010 5:05am
Quoting ljr
Good one Ghous

I shorted the GbpChf 1H pin. Still in looking for 16500.

I see you are liking the hourly charts these days!
All part of a new experiment.

"Limited intra day cherry picking to only the first trouble area"

Nice ride on the Gbp/Chf BTW, I was done for the day when Eur/Gbp ran for me. (previous post)



g.
I believe . . .
  • #50,843
  • Jan 6, 2010 5:28am Jan 6, 2010 5:28am
Thank you ghous and SC

Quoting ghous
Hey Guys,

IPB = Inverted Pin Bar

it's a reversal setup just like a pin bar, we talked abt them in detail when we first tried to play them, but I've not talked abt them a lot as these can be very tricky to play and we have mostly newbies here trying to get their hands wet at the basic stuff...

ps I don't want you guys to look at a good pin and fall into any illusion that it's an ipb, Mike's got enough of questions to deal with to add any more to the list.

Chaos was kind enough to refer you ppl to the posts where...
  • #50,844
  • Jan 6, 2010 5:36am Jan 6, 2010 5:36am
Small pin but the Weekly Pivot and Divergence got me in. Nice mover this was the best trade of the early session today for me. Ha looks like Ghous got in too from the 1H cool.
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"Whether you think you can or can't, you're right." Henry Ford
  • #50,845
  • Jan 6, 2010 5:41am Jan 6, 2010 5:41am
Quoting ghous

IPB = Inverted Pin Bar

it's a reversal setup just like a pin bar, we talked abt them in detail when we first tried to play them, but I've not talked abt them a lot as these can be very tricky to play and we have mostly newbies here trying to get their hands wet at the basic stuff...
ghous,

Thanks for this. I was just wndering what it was. I don't think i'll be going near these for a while as i need to nail down the basics first.

Thanks again,

Glen
  • #50,846
  • Jan 6, 2010 5:47am Jan 6, 2010 5:47am
Quoting Glenborrell
ghous,

Thanks for this. I was just wndering what it was. I don't think i'll be going near these for a while as i need to nail down the basics first.

Thanks again,

Glen
That's a mature and an excellent decision.

g.
I believe . . .
  • #50,847
  • Jan 6, 2010 7:17am Jan 6, 2010 7:17am
Quoting Glenborrell
thanks. All makes sense now.
Top stuff.
Quoting NosferatuMan
Thank you ghous
IPB recent example on eurusd H1

red arrow points at the IPB
red horizontal line (tail end of the IPB) is (initial) exit.
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  • #50,848
  • Jan 6, 2010 7:19am Jan 6, 2010 7:19am
Half position closed, 50 pip trailing stop applied to remainder of position.
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Many choose unhappiness over uncertainty.
  • #50,849
  • Jan 6, 2010 7:40am Jan 6, 2010 7:40am
I've just seen an interesting situation forming on USDCAD We will have to wait a little but i think it will be worth it when it will broke out.
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  • #50,850
  • Jan 6, 2010 7:48am Jan 6, 2010 7:48am
Well 1st one didnt break but what now ...... keep waiting for break i guess ...
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  • #50,851
  • Jan 6, 2010 8:16am Jan 6, 2010 8:16am
If anyone was trading at the time (in a deep sleep here)...
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Many choose unhappiness over uncertainty.
  • #50,852
  • Jan 6, 2010 8:22am Jan 6, 2010 8:22am
Quoting Dan Gilbert
If anyone was trading at the time (in a deep sleep here)...
Yeah I saw this after the fact as well. It doesnt bother me that I miss one while I'm asleep. It bugs me when I miss one while I'm awake.

K.I.S.S.
  • #50,853
  • Jan 6, 2010 8:25am Jan 6, 2010 8:25am
Gbp/Chf - You can't say I only show winning trades. This one is not over (yet) but it is as if someone saw my order and wanted to have some New Years Fun with me. My entry gets tagged at 1.6608 and immediately drops like a bomb to yesterdays low and is currenlty hovering above my stop like a vulture.....

If it doesn't get back above 1.6500 and hold then there is no doubt today I get stopped out. This worked out as well as setting up a tea party between my dobe and Mike Vick.....

In the grand scheme of things it is just another trade.

Nathan
  • #50,854
  • Jan 6, 2010 8:26am Jan 6, 2010 8:26am
Quoting Dan Gilbert
If anyone was trading at the time (in a deep sleep here)...
Sure Dan.........rub my nose in it! Ha ha
  • #50,855
  • Jan 6, 2010 8:38am Jan 6, 2010 8:38am
Quoting dobe_r_man
Gbp/Chf - You can't say I only show winning trades. This one is not over (yet) but it is as if someone saw my order and wanted to have some New Years Fun with me. My entry gets tagged at 1.6608 and immediately drops like a bomb to yesterdays low and is currenlty hovering above my stop like a vulture.....

If it doesn't get back above 1.6500 and hold then there is no doubt today I get stopped out. This worked out as well as setting up a tea party between my dobe and Mike Vick.....

In the grand scheme of things it is just another...
I remember your post, did you ever post a chart for the trade? I was interested in seeing one.

K.I.S.S.
  • #50,856
  • Jan 6, 2010 8:40am Jan 6, 2010 8:40am
another setup I was monitoring last night. I ended up not taking EURCAD pictured below, and took the EURAUD setup instead. requirements for me to trade this yellow line as resistance IN THE FUTURE, because I believe it will be valid after a larger move down, and larger retracement back up to it:

A) price needs to move down at least another 40 pips from where it is now.
B) the retracement of the trendline needs to be at least NEAR the 1.49 area.
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Many choose unhappiness over uncertainty.
  • #50,857
  • Jan 6, 2010 8:42am Jan 6, 2010 8:42am
Quoting KissFan
I remember your post, did you ever post a chart for the trade? I was interested in seeing one.

K.I.S.S.
No, I was extremely busy last night but I will post my chart tonight for sure. It is much easier to see visually what I was looking at on this trade with a chart.

I will do that.

Nathan
  • #50,858
  • Jan 6, 2010 9:05am Jan 6, 2010 9:05am
Quoting pipmyride
Well 1st one didnt break but what now ...... keep waiting for break i guess ...
Here is a chart illustrating my my deduction. First of all, my fib placement is taken from a daily view. I transposed it to the 4hr because we are discussing the 4hr BUOB. I see resistance and confluence of the 50fib level at 1.45. I believe that we are going to make another run at this area and I will take profit there if this trade materializes at the break of that bar. For anyone who is new, keep in mind that I am not in this trade yet. I will only get in long if we see a break of the BUOB. I will trade long here as long as price does not break the nose down at 1.4283 BEFORE it breaks to the upside. A good trade IMHO. I could see a scenario where price continues to the 1.4575 area. I have an overall short bias on EUR/USD because of the monthly BEOB. Keep that in mind when trading this one.

K.I.S.S.
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  • #50,859
  • Jan 6, 2010 9:07am Jan 6, 2010 9:07am
Quoting dobe_r_man
No, I was extremely busy last night but I will post my chart tonight for sure. It is much easier to see visually what I was looking at on this trade with a chart.

I will do that.

Nathan
Thanks Nathan. I am going to try to get something out of every chart posted this year and I value your perspective.

K.I.S.S.
  • #50,860
  • Jan 6, 2010 9:33am Jan 6, 2010 9:33am
Quoting KissFan
Here is a chart illustrating my my deduction....
Solid plan ...
Being that its very late here in Aus, i will wait to see how the daily forms and assess then ..

Good luck
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