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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

  • #51,401
  • Jan 13, 2010 1:01am Jan 13, 2010 1:01am
4HR PPZ ...zoomed down to 1 HR and entered on pin bar...stop moved to BE.

Note the divergence too on the 4H
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  • #51,402
  • Jan 13, 2010 1:45am Jan 13, 2010 1:45am
Quoting lovejoy80
4HR PPZ ...zoomed down to 1 HR and entered on pin bar...stop moved to BE.

Note the divergence too on the 4H
There is a very little tiny miny PPZ . at 9240 you can use it to hide your stop.

Or......
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  • #51,403
  • Jan 13, 2010 2:29am Jan 13, 2010 2:29am
Good morning everyone !
Did someone took the AUDCAD short 2days PB yesterday ?
I did and it seems to retrace to the PPZ, let's wait a little longer
  • #51,404
  • Jan 13, 2010 3:34am Jan 13, 2010 3:34am
Quoting Treefingers
I know a few are watching the gbpchf, how does this 8h pin look?

Price currently right on a daily ppz.

Anyone else involved in this pair?

I took the buy at 1.6419 so far working out well, I have 75pip trailing stop on it & up approx 150 pips as I type.

How does this trend line look I have drawn?
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Learning to be rigid in my rules & flexible in my expectations
  • #51,405
  • Jan 13, 2010 3:42am Jan 13, 2010 3:42am
Quoting djmanu
Good morning everyone !
Did someone took the AUDCAD short 2days PB yesterday ?
I did and it seems to retrace to the PPZ, let's wait a little longer
Did it ever break?

I din't see the pb break on me feed at least

g.
I believe . . .
  • #51,406
  • Jan 13, 2010 3:45am Jan 13, 2010 3:45am
Usd/Cad 1h.

Nice smooth ride to the first trouble area.
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I believe . . .
  • #51,407
  • Jan 13, 2010 3:47am Jan 13, 2010 3:47am
Quoting Treefingers
Anyone else involved in this pair?
...
How does this trend line look I have drawn?
are u referring to the red trendline?
what is your basis for plotting this trendline?
price has pierced this TL numerous times. so to some, strictly, this TL does not make sense.
ideally u want a trendline that has no 'piercings' (or has not crossed/breached) on the other side.

having said that, if u project the trendline from the Jan.5(?) bearish bar's high forward, then u have a 'correct' (down) trendline.
however, u want to plot TL's from extreme/swing highs/lows to be more relevant... an example would be plotting a TL connecting the early November & mid December highs, &/or a TL connecting mid-Dec. & late Dec. highs.

Hope this helps
  • #51,408
  • Jan 13, 2010 3:48am Jan 13, 2010 3:48am
Quoting Treefingers
Anyone else involved in this pair?

I took the buy at 1.6419 so far working out well, I have 75pip trailing stop on it & up approx 150 pips as I type.

How does this trend line look I have drawn?
...invalid.

Once a trend line is broken it should immedietly be removed unless you're looking to play a breakout + retest trade.

The trend line you have drawn has been violated several times...just does not point towards enough order accumulations around the trend line to give it the strength, we're better off ignoring such "median" sort of lines.

g.
I believe . . .
  • #51,409
  • Jan 13, 2010 3:51am Jan 13, 2010 3:51am
Quoting supremeChaos
are u referring to the red trendline?
what is your basis for plotting this trendline?
price has pierced this TL numerous times. so to some, strictly, this TL does not make sense.
ideally u want a trendline that has no 'piercings' (or has not crossed/breached) on the other side.

having said that, if u project the trendline from the Jan.5(?) bearish bar's high forward, then u have a 'correct' (down) trendline.
however, u want to plot TL's from extreme/swing highs/lows to be more relevant... an example would be plotting a TL connecting the...
You type or what?

you beat me to it man. lol
I believe . . .
  • #51,410
  • Jan 13, 2010 3:56am Jan 13, 2010 3:56am
Thanks & removed, getting confused as I have seen a TL drawn like that but they must have been for breakout trades as you suggested Ghous.

So i now have the 1.6600 area as the first hurdle to break through.
Learning to be rigid in my rules & flexible in my expectations
  • #51,411
  • Jan 13, 2010 4:00am Jan 13, 2010 4:00am
Quoting Treefingers
Anyone else involved in this pair?

I took the buy at 1.6419 so far working out well, I have 75pip trailing stop on it & up approx 150 pips as I type.

How does this trend line look I have drawn?
Your trend line seems to be adjusted to your desire to take some profit off.

Try these.
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  • #51,412
  • Jan 13, 2010 4:13am Jan 13, 2010 4:13am
In case you are wondering.... It's showtime.....
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That which does not kill me, makes me stronger.
  • #51,413
  • Jan 13, 2010 4:14am Jan 13, 2010 4:14am
Quoting ghous
Usd/Cad 1h.

Nice smooth ride to the first trouble area.
Gbp/Usd 1h.

Nice smooth ride to the first trouble area.
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  • #51,414
  • Edited 5:14am Jan 13, 2010 4:57am | Edited 5:14am
Quoting Investor7
In case you are wondering.... It's showtime.....
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Yep looks that way, have tightened my stop & locked in 100 pips.
Learning to be rigid in my rules & flexible in my expectations
  • #51,415
  • Jan 13, 2010 5:32am Jan 13, 2010 5:32am
Quoting ghous
Usd/Cad 1h.

Nice smooth ride to the first trouble area.
nice trade ghous, this one jumped out with bells and whistles.

also eurusd 1h range trade looked good (didn't trade it as i was in the cad)

regards
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  • #51,416
  • Jan 13, 2010 5:49am Jan 13, 2010 5:49am
before people jump on me about minimum requirements, this and that... I just want to share with you guys my first live trade. I understand james wouldn't like the fact I'm trading in this manner already, but it is what it is. I just don't want 4 people in a row telling me not to do it this way. I'm only risking 2% on a tiny account. With that said...

My first live trade. S/L at break even after 25 pips, half profit removed after 55 pips, final target: 1.0076
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Many choose unhappiness over uncertainty.
  • #51,417
  • Jan 13, 2010 6:14am Jan 13, 2010 6:14am
Quoting Dan Gilbert
before people jump on me about minimum requirements, this and that... I just want to share with you guys my first live trade. I understand james wouldn't like the fact I'm trading in this manner already, but it is what it is. I just don't want 4 people in a row telling me not to do it this way. I'm only risking 2% on a tiny account. With that said...

My first live trade. S/L at break even after 25 pips, half profit removed after 55 pips, final target: 1.0076
nice trade bro
i love these types of trades also, but usually look for some pa on a smaller tf to get in. well done
jon
PATIENCE... DISCIPLINE
  • #51,418
  • Jan 13, 2010 6:21am Jan 13, 2010 6:21am
a good pa conflience chart

euraud 1h

good ppz @ a nice number
nice div
pin was well placed (would have liked more protrusion)

i didn't trade it just had a couple on mins to flick through my charts... it's always nice to see price move off a line you put on your chart a couple of days ago :o)

regards
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  • #51,419
  • Jan 13, 2010 6:24am Jan 13, 2010 6:24am
Quoting g_j_hook@yah
nice trade bro
i love these types of trades also, but usually look for some pa on a smaller tf to get in. well done
jon
thanks man.... Your sig applied to this trade in a big way.... Patience patience patience... It felt like price was never going to hit my yellow trendline....
Many choose unhappiness over uncertainty.
  • #51,420
  • Jan 13, 2010 6:30am Jan 13, 2010 6:30am
Quoting Dan Gilbert
.... Patience patience patience... It felt like price was never going to hit my yellow trendline....
sometimes price will hit 'your trade area', sometimes it wont. for today, it did hit; Patience paid this time.

Congratulations on your first trade!
Just try to focus & trade the way u have been trading prior this day.
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