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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

  • #52,561
  • Jan 22, 2010 10:14am Jan 22, 2010 10:14am
Quoting jarroo
Hey Mike . . . GJ . . . DD?


I'm tellin ya man, that is where it's at! Now that it's out of the bag, so to speak, I wouldn't be surprised to see 140 next week and a huge shit-eating grin on my face- and presumably yours too. lol
I dream, therefore I become.
  • #52,562
  • Jan 22, 2010 10:17am Jan 22, 2010 10:17am
i cud not resist this meehn. out with a qiuck profit.

Hunri
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  • #52,563
  • Jan 22, 2010 10:21am Jan 22, 2010 10:21am
Quoting mike w

I'm tellin ya man, that is where it's at! Now that it's out of the bag, so to speak, I wouldn't be surprised to see 140 next week and a huge shit-eating grin on my face- and presumably yours too. lol

That 145.00 I saw as a potential problem, you never know with this chick.

So I played "free trade" style, half at 83 pip other half -83. I thought I was going to get stopped out but I didn't, so I like your 140.00.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,564
  • Jan 22, 2010 10:22am Jan 22, 2010 10:22am
Quoting jarroo
lol or just a dork. Although it is friday. lol

lets ride those PA and have and enjoyable week, those are just the cherry from the cake.

hope everyone is sitting on the table and take a pie or to

like fridays like this!!

come on!!!

wish you the best!!
  • #52,565
  • Jan 22, 2010 10:23am Jan 22, 2010 10:23am
BUOB on 1.4700, Support from Sep 08 if you zoom out, plus divergence on the MACD.
In on the break, I took full profit at the trouble area marked in blue for a nice gain.

Happy Friday
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  • #52,566
  • Jan 22, 2010 10:24am Jan 22, 2010 10:24am
Quoting didymario
i cud not resist this meehn. out with a qiuck profit.

Hunri
Nice one Hunri. The Rac-man would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #52,567
  • Jan 22, 2010 10:35am Jan 22, 2010 10:35am
Ahh, a thread on price action using Prings 'Pinbar' logic, will keep an eye with interest.
  • #52,568
  • Jan 22, 2010 10:36am Jan 22, 2010 10:36am
Quoting benji533
Hope you like

Just keep making this thread even more colorful with your posts.

Ben
Very nice Ben. Price really likes to re-test (pullback) to those bold round numbers, Strong PPZ and quality PA breaks.
Indicators show the past. Price Action "Indicates" the future.
  • #52,569
  • Jan 22, 2010 10:54am Jan 22, 2010 10:54am
Quoting ljr
Hi Jarroo and TTP

I am still in GBPCHF. Entry was 16855 and moved it to BE once price got below 16800. I have now moved my stop to 16810 as this area seems to be providing good resistance at the moment.

Jarroo do you think this is too tight for this PA based on the quality of the setup. 1.68 seems the next obvious place to move the stop but I also want to give it enough room.

Leon
Leon:

Everyone has their own trade management and I see nothing wrong with locking in 45 pips while giving it a chance to run more. I am in this trade from 1.6860 but I am only moving my stop to break-even after today (assuming nothing crazy happens).

I normally am pretty aggressive on my trade management, but this one I see going to the 1.6610 - 1.6620 area (where my TP is) Monday or Tuesday of next week. It may take longer or not even get there, but I am giving this one a bit more room than normal.

Besides I have put a magnet on my chart that is sure to draw price to my TP......

Nathan
  • #52,570
  • Jan 22, 2010 11:03am Jan 22, 2010 11:03am
Gbp/Chf...1:1...I'm done. (pulling off the order after this post get's put up)

Won't ask much from ranging market

g.
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I believe . . .
  • #52,571
  • Jan 22, 2010 11:06am Jan 22, 2010 11:06am
Quoting Bobbstar
Ahh, a thread on price action using Prings 'Pinbar' logic, will keep an eye with interest.
Prings Pin Bars "with" logic.

The "logic" part is what this thread is about.

Welcome.
Indicators show the past. Price Action "Indicates" the future.
  • #52,572
  • Jan 22, 2010 11:07am Jan 22, 2010 11:07am
I think that this bar will close at noon central time (fxpro). Depending on how it closes we could get some safe profits to the 1105 area.

K.I.S.S.
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  • #52,573
  • Jan 22, 2010 11:09am Jan 22, 2010 11:09am
Am with you on this dobe_r_man......WHY? Have a look at the weekly.....f that closes, we know where it is headed...........nice weekend

Quoting dobe_r_man
Leon:

Everyone has their own trade management and I see nothing wrong with locking in 45 pips while giving it a chance to run more. I am in this trade from 1.6860 but I am only moving my stop to break-even after today (assuming nothing crazy happens).

I normally am pretty aggressive on my trade management, but this one I see going to the 1.6610 - 1.6620 area (where my TP is) Monday or Tuesday of next week. It may take longer or not even get there, but I am giving this one a bit more room than normal.

Besides I have put a magnet on my chart...
  • #52,574
  • Jan 22, 2010 11:15am Jan 22, 2010 11:15am
Quoting dobe_r_man
Leon:

Everyone has their own trade management and I see nothing wrong with locking in 45 pips while giving it a chance to run more....
Ha Ha Ha

Disable the magnet a bit and show me some PA around 1.6800.


Nos
  • #52,575
  • Jan 22, 2010 11:16am Jan 22, 2010 11:16am
Quoting Bobbstar
Ahh, a thread on price action using Prings 'Pinbar' logic, will keep an eye with interest.
Welcome Bobbstar. We have a brother here from the UK that goes by the name TiaForex. He's a real asset to our community here. I highly recommend his posts. If you have charts to share as we go along all the better. I may be biased but I think that you have stumbled upon the best place to learn TA/PA on the "www". We keep it pretty basic here and I hope that we can help each other improve. Best regards.

K.I.S.S.
  • #52,576
  • Jan 22, 2010 11:30am Jan 22, 2010 11:30am
Quoting ghous
Gbp/Chf...1:1...I'm done. (pulling off the order after this post get's put up)

Won't ask much from ranging market

g.
Hey g, if this closes as a Weekly PB would you play it to the 1.6500?

I m just saying . . .

Nice trade btw g.
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Indicators show the past. Price Action "Indicates" the future.
  • #52,577
  • Jan 22, 2010 11:42am Jan 22, 2010 11:42am
Quoting Ezzy
Hi

I am sure this has been answered before (probably more then once). What does Jim and other J16 seasoned traders recommend regarding leaving trades over the weekend.

Many thanks in advance.
I am fine with holding trades that are far away from my stop loss over the weekend. For example I am holding my eur/aud trade and my stop is at b/e 100 or so pips away. Gaps do happen over the weekend though so sometimes closing and reopening and paying the spread is worth it. I tend to do that more with yen pairs more or less

Mike
  • #52,578
  • Jan 22, 2010 11:42am Jan 22, 2010 11:42am
Quoting NosferatuMan
Ha Ha Ha

Disable the magnet a bit and show me some PA around 1.6800.


Nos
Nos....you know when we start curve fitting and goofing around with our charts it is not good for anyone

Put a magnet on your chart and let's see what happens (as long as you take it back off after it gets to 1.6800)
  • #52,579
  • Jan 22, 2010 11:46am Jan 22, 2010 11:46am
Quoting jarroo
Hey TTP, just wondering how your trade turn out. If it turned out to be just a break even trade . . its still a win.

This was a very good quality PA setup, which I give more leeway on my stop loss location or just place them were they should be place . .above the PA formation in this case.

Either way it was a great setup TTP.
Out at breakeven on that one Jarroo, thanks for asking. Price had moved 40 or so pips positive, so I moved stop to breakeven plus 10 pips for more room. Got taken out, then price reversed and dropped again. Same thing happened on yesterday's GBP/USD Daily PB short trade, (price moved 0.8 of a pip up past my stop then dropped!).

I'm still only on page 400 or so of the thread, so maybe I can find some useful trade management ideas further on. Or with a few more months of taking PBs I'll be able to determine my win rate, and work out my own way of moving stops.

Will try to catch up over the weekend.

Yes, a breakeven trade is okay with me.



- TTP -
  • #52,580
  • Jan 22, 2010 12:03pm Jan 22, 2010 12:03pm
Quoting triger88990
that's for sure LOL
triger's a skirt? boy, I never see that comin...
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