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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

  • #52,721
  • Edited 7:26am Jan 25, 2010 7:24am | Edited 7:26am
Quoting ghous
By definition yes that's a DBLHC...

As a beneficial excersice it would be great if you can come with reasons why (in your opinion) this is not a good take in terms of location and it's over all validity.

g.,
Hello

I wanted to help other and put this chart, it's 4h so probably not everyone can see this DBLHC. I think that 2d PB is stronger and short position is right position. As we can see here, market throw away DBLHC and that could be signal that bearish direction is still good and now market will be in consolidation for few 4h bars/candles and then if some bar close under 0,9800 it would go more south. Right now we can see BEOB forming on daily.

Conclusion:
For those who enter on friday its good to be still in trade.
For new people who want to take some pips good enter could be few pips under 0,9800 and s/l above this ppz.

I hope it make some sense
  • #52,722
  • Jan 25, 2010 7:26am Jan 25, 2010 7:26am
Quoting ghous
Great if you were able to ride one of those beauties!!

Again make sure you've practiced with them enough before you attempt to trade them live...these are undoubtedly the most subtle of all our PA bars.

g.
yea it was a real beauty but as you said for now im testing them on demo only
  • #52,723
  • Jan 25, 2010 7:40am Jan 25, 2010 7:40am
Quoting ghous
There is no "trading behavior" Punter,

There's just a trade plan that you devise after you acknowledge a setup and then implement it.

The thread has all the knowledge that should help you identify a tradable setup,

Trial and error and lots of demo practice should help you sort out what kind of a trade management plan works for you according to your particular risk appetite,

The problem for most new traders is that they can't stick to their plans (the "demons") and panic get's the most out of them...this is where experience comes in which...
wow nicely said i marked it up
  • #52,724
  • Jan 25, 2010 8:45am Jan 25, 2010 8:45am
Quoting jarroo
Hey datogio.

That 1.5500ish is indeed a good location. The Daily BUOB didn't pack much of a punch. That weekly PB could be a whole big, as I'm sure you know. We may be consolidation around the 1.5500, who knows.

A hard break of the Weekly PB could make the different.

Hello Jarroo,

I have question regarding the break of the weekly pinbar on the EURAUD, acutally I checked my Oanda chart, the price has already reach 1.5740 on Sunday. All other broker like IBFX or FXpro does not show the move because they opened late.

In that case, I think the weekly pinbar actually broked and according to that it is just an "Weak break".

What do you think about this?

Thanks!

PM
  • #52,725
  • Jan 25, 2010 8:57am Jan 25, 2010 8:57am
any comments on the aud/usd .. seems to have difficulty breaking resistance.. anyone feeling it might go down to further 61.8% fibo and support area there..(0.89530)?
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  • #52,726
  • Jan 25, 2010 9:07am Jan 25, 2010 9:07am
GBPCHF short trade closed @ 2.79% gain to live account
Many choose unhappiness over uncertainty.
  • #52,727
  • Jan 25, 2010 9:10am Jan 25, 2010 9:10am
a quick profit

half closed stops to BE

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  • #52,728
  • Jan 25, 2010 9:16am Jan 25, 2010 9:16am
Quoting ghous
For reasons unknown to me this setup wasn't talked abt enough...

Anybody else who rode this "clean as a whistle" setup too?

g.
I did, however got out early with tp 50 pips. Looks like price will reach projected take profit target. Should have hold on to it little longer. Never mind.
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The purpose of knowledge is action, not knowledge
  • #52,729
  • Jan 25, 2010 9:25am Jan 25, 2010 9:25am
Quoting Dan Gilbert
GBPCHF short trade closed @ 2.79% gain to live account
Well done.

My stop was a tad too tight on that one....

- TTP -
  • #52,730
  • Jan 25, 2010 9:35am Jan 25, 2010 9:35am
Quoting takingthepip
Well done.

My stop was a tad too tight on that one....

- TTP -
eek!
Many choose unhappiness over uncertainty.
  • #52,731
  • Jan 25, 2010 9:40am Jan 25, 2010 9:40am
Quoting Dan Gilbert
GBPCHF short trade closed @ 2.79% gain to live account
Dan

You seem to be doing well, keep it up - have you posted a chart of the abovwe trade?

berti
PA is where its at!!
  • #52,732
  • Jan 25, 2010 9:46am Jan 25, 2010 9:46am
May be good sign for us longs...........triple bar high break on hourly.
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  • #52,733
  • Jan 25, 2010 9:57am Jan 25, 2010 9:57am
Quoting bertie123
Dan

You seem to be doing well, keep it up - have you posted a chart of the abovwe trade?

berti
http://www.forexfactory.com/showpost...ostcount=52617
Many choose unhappiness over uncertainty.
  • #52,734
  • Jan 25, 2010 10:00am Jan 25, 2010 10:00am
Quoting bertie123
Dan

You seem to be doing well, keep it up - have you posted a chart of the abovwe trade?

berti
also, I got stopped out because after the highlighted pin here formed, I moved my stop to 15 points above the high of the pin...
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Many choose unhappiness over uncertainty.
  • #52,735
  • Jan 25, 2010 10:10am Jan 25, 2010 10:10am
Daily IB forming? I hope so....

Imagine if this turns into a double...
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Many choose unhappiness over uncertainty.
  • #52,736
  • Jan 25, 2010 10:14am Jan 25, 2010 10:14am
Quoting KissFan
I should probably explain. I am out of this trade at 1.68 as I see a PPZ there and want to be flat over the weekend. If we get to 1.67 with relative ease and then head back to 1.68 afterward, methinks a good place to look for shorts again.

K.I.S.S.
I am looking for confirming PA for shorts again on GBPCHF. Hope everyone had a good weekend. Sorry about the Vikes Fudd. Mr. Favre and his team put on a great game and valiant effort.

K.I.S.S
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  • #52,737
  • Jan 25, 2010 11:33am Jan 25, 2010 11:33am
I just couldn't wait to say hello to James and Mike, and everyone else
I am at page 153 my second read to there before moving on, but couldn't wait to say What a journey so far, amazing guys ,Thank You

Best Damien
  • #52,738
  • Jan 25, 2010 11:36am Jan 25, 2010 11:36am
Any clowns other than me still holding this short......
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  • #52,739
  • Jan 25, 2010 11:55am Jan 25, 2010 11:55am
Quoting dobe_r_man
Any clowns other than me still holding this short......
I've already unloaded my initial short on this one, but I am interested in seeing how we react now that we are at an area of resistance again(Previous bar lows on the daily). If we see any solid PA indicating downwards from this area, I'm going to enter another short. If not, then you know the routine..next setup please.
I dream, therefore I become.
  • #52,740
  • Jan 25, 2010 11:57am Jan 25, 2010 11:57am
Quoting KissFan
I am looking for confirming PA for shorts again on GBPCHF. Hope everyone had a good weekend. Sorry about the Vikes Fudd. Mr. Favre and his team put on a great game and valiant effort.

K.I.S.S

I guess I should have read this post before writing the exact same thing without charts. lol
I dream, therefore I become.
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