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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

  • #51,501
  • Jan 13, 2010 6:52pm Jan 13, 2010 6:52pm
Are you going to finish strong?
1.6300 RN, 50% Fib, Bearish Div, TL Touch, all we need, like kissfan says, is, PA....
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That which does not kill me, makes me stronger.
  • #51,502
  • Jan 13, 2010 7:35pm Jan 13, 2010 7:35pm
Quoting Dan Gilbert
GC 4hr pin still not broken...... i'm monitoring the lil flag patter.
Hey Dan. My IBFX feed shows a break to the downside now. That pin's low was 1.6567. Looks like we are in business. Now for the record, that is a stubby little creature. I took the trade because of many factors that I listed a few posts ago.

K.I.S.S.
  • #51,503
  • Jan 13, 2010 7:37pm Jan 13, 2010 7:37pm
Quoting KissFan
Hey Dan. My IBFX feed shows a break to the downside now. That pin's low was 1.6567. Looks like we are in business. Now for the record, that is a stubby little creature. I took the trade because of many factors that I listed a few posts ago.

K.I.S.S.
Good luck broski... this think is going to rocket down if this flag is any indication...... sick sick area. perfect area.
Many choose unhappiness over uncertainty.
  • #51,504
  • Jan 13, 2010 7:53pm Jan 13, 2010 7:53pm
Quoting Dan Gilbert
Good luck broski... this think is going to rocket down if this flag is any indication...... sick sick area. perfect area.
I'm up 30 now. Are you still in USDCHF short?

K.I.S.S.
  • #51,505
  • Jan 13, 2010 7:57pm Jan 13, 2010 7:57pm
Quoting KissFan
I'm up 30 now. Are you still in USDCHF short?

K.I.S.S.
no that trendline proved to be legit a 2nd time, immediately after my stop was hit, by roughly 3 pips. so I got stopped out by 3 pips and the price took off again. oh well. I already see a good opportunity to re-enter the pair , and am very happy the first trade I made, made 50% of it's targets, with no losses. My demo trade off that line is still live though, the sell limit was just 4 pips higher on the demo account, made all the difference....
Many choose unhappiness over uncertainty.
  • #51,506
  • Jan 13, 2010 7:59pm Jan 13, 2010 7:59pm
Quoting Dan Gilbert
no that trendline proved to be legit a 2nd time, immediately after my stop was hit, by roughly 3 pips. so I got stopped out by 3 pips and the price took off again. oh well. I already see a good opportunity to re-enter the pair , and am very happy the first trade I made, made 50% of it's targets, with no losses. My demo trade off that line is still live though, the sell limit was just 4 pips higher on the demo account, made all the difference....
Gotcha. Have a good night. I have line alerts set and I'm off to see the dream weaver.

K.I.S.S.
  • #51,507
  • Jan 13, 2010 8:03pm Jan 13, 2010 8:03pm
Slowly but surely....
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That which does not kill me, makes me stronger.
  • #51,508
  • Jan 13, 2010 8:25pm Jan 13, 2010 8:25pm
Quoting KissFan
I'm up 30 now. Are you still in USDCHF short?

K.I.S.S.
Nice entry... the 50% fib retracement of the 4 hour bar.
I waited until she broke before I entered... I didn't like the flag pattern.
  • #51,509
  • Jan 13, 2010 8:31pm Jan 13, 2010 8:31pm
Quoting Investor7
Slowly but surely....
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Nice catch at that level!
  • #51,510
  • Jan 13, 2010 8:58pm Jan 13, 2010 8:58pm
Quoting Investor7
Slowly but surely....
Attachment
I'ma go ahead and make my prediction
Attached Image
Many choose unhappiness over uncertainty.
  • #51,511
  • Jan 13, 2010 9:14pm Jan 13, 2010 9:14pm
I'm just wondering if someone could please have a lot at the image below and try to see how to handle this conflict of signals and how the James16 method would deal with it.
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  • #51,512
  • Jan 13, 2010 9:21pm Jan 13, 2010 9:21pm
Quoting Dan Gilbert
I'ma go ahead and make my prediction
I can live with that.

Did you moved your stop along with the highest trendline or do you leave it at this point a little above your entry?
  • #51,513
  • Jan 13, 2010 9:38pm Jan 13, 2010 9:38pm
Quoting altrader
I'm just wondering if someone could please have a lot at the image below and try to see how to handle this conflict of signals and how the James16 method would deal with it.
Hey Al

Careful here, on that second bar. For it to be a DBLHC the close must be HIGHER then the previous bars high. As for conflicting signals, it really depends on the type of trade. For me if I believe strongly enough I will probably not let it discourage but I may move my stop down and reduce my risk on the trade.

Best
Mike
  • #51,514
  • Jan 13, 2010 10:03pm Jan 13, 2010 10:03pm
Quoting Dan Gilbert
I'ma go ahead and make my prediction

BOE looking at early rate rise??

This is why GBP strong yesterday.

http://www.bloomberg.com/apps/news?p...d=a12mQnx6JgOQ
  • #51,515
  • Jan 13, 2010 10:07pm Jan 13, 2010 10:07pm
Quoting mbqb11
Hey Al

Careful here, on that second bar. For it to be a DBLHC the close must be HIGHER then the previous bars high. As for conflicting signals, it really depends on the type of trade. For me if I believe strongly enough I will probably not let it discourage but I may move my stop down and reduce my risk on the trade.

Best
Mike
Thanks for your detailed response Mike. I'm new to this thread and see that there is so much information to go through.

Cheers
Altrader
  • #51,516
  • Jan 13, 2010 10:32pm Jan 13, 2010 10:32pm
Quoting altrader
Thanks for your detailed response Mike. I'm new to this thread and see that there is so much information to go through.

Cheers
Altrader
yep grab a coffee Welcome
  • #51,517
  • Jan 13, 2010 11:24pm Jan 13, 2010 11:24pm
I know this isn't the best set up in terms of placement, but it does fit the criteria of a 2 day pin bar bouncing off the 365 MA and is supported by a very big BUOB on the 4H, so I'm wondering if this could be used to indicate a break out through the daily downward trendline after a small retracement to the first blue zone on the 4H? (fib confluence).
Trying my first live trades with J16 (just risking 0.2% at the moment), and happy to say all is good. Been very quiet on this forum so far as most of my questions have been answered at some point anyway, but just wanted to say thanks to everyone for the help and the amazing forum you guys have put together.
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  • #51,518
  • Jan 13, 2010 11:58pm Jan 13, 2010 11:58pm
Also wondering if we can use pin bars as continuation signals as in this example to break through the downward TL. I haven't really looked at IPB's at all, but I guess that's the other scenario I can think of.

Thanks
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  • #51,519
  • Jan 14, 2010 1:06am Jan 14, 2010 1:06am
DBHLC - daily chart
Waiting for some PA at weekly support 1.0300.

http://picnac.com/images/17d1uc.gif
  • #51,520
  • Jan 14, 2010 1:10am Jan 14, 2010 1:10am
Thanx bluetrader and supreme for the info on IB, no wonder why I don't trade them at all yet
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