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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

  • #51,861
  • Jan 18, 2010 5:00am Jan 18, 2010 5:00am
Quoting dobe_r_man
Shadow says she likes it........
so cute, i need a little dog too =)
Never whishing, always trading.
  • #51,862
  • Jan 18, 2010 6:15am Jan 18, 2010 6:15am
Quoting didymario
1 hr b/o trade with 15mins trigger. Still trailing using BAT, but my initial stop loss has been moved to 1.6765 to cut loss short.

Hunri
stopped out at 1.6765 for a 0.189% loss (initial risk stood at 0.5%)

Hunri
  • #51,863
  • Jan 18, 2010 6:32am Jan 18, 2010 6:32am
Quoting dobe_r_man
Shadow says she likes it........
Sho Shweeet!
I believe . . .
  • #51,864
  • Jan 18, 2010 7:02am Jan 18, 2010 7:02am
GBPUSD daily beob broke over the top, now invalid. I had a sell stop order placed on the break of it too. not anymore. Currently looking @ USDJPY 4hr chart for potential break area. support trendline not valid yet. still monitoring.
Many choose unhappiness over uncertainty.
  • #51,865
  • Jan 18, 2010 7:13am Jan 18, 2010 7:13am
Quoting supremeChaos
Awesome first post & first trade

i made a quick glance...
this pinbar is in a congestion/traffic zone (look to the immediate left) & not in an extreme swing high.
what went in your favor? price got rejected off TWO round numbers (149 & 150) & 150ema; price made a hard break south (pin bar break) confirming downside momentum, then you had a (realistic) TP objective which got hit.

Strive to be pickier & slowly the 'A-Ha' moments & profits will sink in....

Welcome in behalf of all here & hope to see more posts from u.. Good luck! ...
Many thanks for your reply!

I am aware that I should be much more pickier. That's what I plan to learn from j16 group and thread.

I wonder how would you guys rate this GBP/JPY pin bar setup? Was it at least C grade setup?
Edo
  • #51,866
  • Jan 18, 2010 7:27am Jan 18, 2010 7:27am
Quoting Dan Gilbert
GBPUSD daily beob broke over the top, now invalid. I had a sell stop order placed on the break of it too. not anymore. Currently looking @ USDJPY 4hr chart for potential break area. support trendline not valid yet. still monitoring.
Many really valid looking bearish bars on GBPUSD have been invalidated over the past ten days. It seems uncanny.

K.I.S.S.
  • #51,867
  • Jan 18, 2010 7:42am Jan 18, 2010 7:42am
Quoting KissFan
Many really valid looking bearish bars on GBPUSD have been invalidated over the past ten days. It seems uncanny.

K.I.S.S.
Tell them to Behave Themselves.
  • #51,868
  • Jan 18, 2010 8:00am Jan 18, 2010 8:00am
Quoting KissFan
Many really valid looking bearish bars on GBPUSD have been invalidated over the past ten days. It seems uncanny.

K.I.S.S.
it was a bummer canceling that daily sell stop. I had good confidence . I cannot complain, the few trades I have made lately have done good, and the ones that haven't done "good" haven't lost me anything
Many choose unhappiness over uncertainty.
  • #51,869
  • Jan 18, 2010 9:53am Jan 18, 2010 9:53am
Quoting supremeChaos
Hello forexpiet!

if u havent yet, try to focus more on the basic PA setups (PB, BUOB, etc) before venturing into setups like IPB's..
just a small suggestion
Good suggestion, thanks Supreme

Quoting ghous
Hey FP,

Not exactly,

Just like we want our pin bars nice and strong and long similiarly we want our IPBs to be long and authoritative too...

The Eur/Aud has been a victorious battle for the bears for a very long time now, they've been dragging price where they want and the bulls were slapped on the A$$ every time they'd put a "but" (pun intended).

Therefore I need a real revolutionist of a bull a.k.a Bullish PA to convince me to go long.

g.
Thanks gnous, will look after nice strong and long pinbars now.
Posting Demo charts, mirroring some of them live.
  • #51,870
  • Edited 10:52am Jan 18, 2010 9:56am | Edited 10:52am
I entered this trade a couple of hours ago. Lets see how it pans out. Hopefully it will break to the downside
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  • #51,871
  • Jan 18, 2010 10:17am Jan 18, 2010 10:17am
something I'm looking to trade on demo... the trendline already worked once as a resistance line (see circle with checkmark), so I'm not sure if it will hold for a second test. Not trading this one live. but it's a possible good shorting area for the 'ol demo account.

EDIT: 89.27 would be my S/L area. First target would be the 88.50 area.
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Many choose unhappiness over uncertainty.
  • #51,872
  • Jan 18, 2010 10:22am Jan 18, 2010 10:22am
WHATS UP WITH THAT
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  • #51,873
  • Jan 18, 2010 11:18am Jan 18, 2010 11:18am
I'm liking the consecutive IBs on the gbp/usd, especially with the level that we're trading at along with divergence. Dale's Doubles are always peachy to me!
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I dream, therefore I become.
  • #51,874
  • Jan 18, 2010 11:40am Jan 18, 2010 11:40am
Quoting mike w
I'm liking the consecutive IBs on the gbp/usd, especially with the level that we're trading at along with divergence. Dale's Doubles are always peachy to me!
i noticed that too.... MLK day might have something to do with it though... I'm not discouraging you from acting on it. Try to trade it if you want to....


Do you think it's a good trade for a bank holiday?
Many choose unhappiness over uncertainty.
  • #51,875
  • Jan 18, 2010 11:46am Jan 18, 2010 11:46am
Quoting Dan Gilbert
i noticed that too.... MLK day might have something to do with it though... I'm not discouraging you from acting on it. Try to trade it if you want to....


Do you think it's a good trade for a bank holiday?
From a technical standpoint, I will be trading it. There's a setup on the screen at a solid area of resistance and so it looks good to me. Concerns based on the bank holiday are nil considering that by the time it breaks, we will probably be into the tokyo session.

Another note that I've seen on particular bank holidays is that the converging currency usually dictates the move for the day, which it really hasn't been able to (Gbp). IMO, that proves that this area of resistance is solid enough for a move downwards (or upwards if the resistance breaks topside) once momentum picks up from the unwinding of consolidation.
I dream, therefore I become.
  • #51,876
  • Jan 18, 2010 11:48am Jan 18, 2010 11:48am
Quoting mike w
From a technical standpoint, I will be trading it. There's a setup on the screen at a solid area of resistance and so it looks good to me....
cool, thanks for the info bro.
Many choose unhappiness over uncertainty.
  • #51,877
  • Jan 18, 2010 12:07pm Jan 18, 2010 12:07pm
Quoting mike w
I'm liking the consecutive IBs on the gbp/usd, especially with the level that we're trading at along with divergence. Dale's Doubles are always peachy to me!
Ok I looked at this a bit more....

This is a 4hr, I4B on a double top, with divergence @ the daily 50% retracement area.... right? lol.... seems legit...
Many choose unhappiness over uncertainty.
  • #51,878
  • Jan 18, 2010 12:38pm Jan 18, 2010 12:38pm
Quoting Dan Gilbert
Ok I looked at this a bit more....

This is a 4hr, I4B on a double top, with divergence @ the daily 50% retracement area.... right? lol.... seems legit...
Also about 30 pips short from the 365ema on the daily.
Learning to be rigid in my rules & flexible in my expectations
  • #51,879
  • Jan 18, 2010 12:53pm Jan 18, 2010 12:53pm
something I am watching

major historical support + major round number + divg on 4hr. Please give me a big huge BUOB
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  • #51,880
  • Jan 18, 2010 12:58pm Jan 18, 2010 12:58pm
Quoting EdoR
Many thanks for your reply!

I am aware that I should be much more pickier. That's what I plan to learn from j16 group and thread.

I wonder how would you guys rate this GBP/JPY pin bar setup? Was it at least C grade setup?
Sorry, I forgot to insert my chart.

Is this just C pin bar setup, or maybe even B?
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Edo
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