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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

  • #53,541
  • Feb 1, 2010 6:16am Feb 1, 2010 6:16am
Finally, both went good, so it was 100 pips+ for both.

Hope many of our friends from this thread got them.

Best wishes,
M


Quoting dobe_r_man
Personally I like gbp/chf better (other than being the fourth test of 1.7000). With Eur/gbp there is a fairly strong ppz around the .87 to .8730 area which isn't very high above the break of the pin.

Only after the fact we will know for sure, but for capital reasons I am sticking to just one. Alternatively you could risk 1/2% on each pair (if you normally risk 1%) as well.

Nathan
  • #53,542
  • Feb 1, 2010 6:28am Feb 1, 2010 6:28am
Quoting Haxor
Please share your thoughts

Greg
2 screen:
1st one:most of the pairs on 1H (there are pairs that are not good for 1h,nzdaud for ex.)
2nd:all the pairs on 4h profile(metatreder),1D and weekly profile.
Wellcome to the good life!
  • #53,543
  • Feb 1, 2010 6:48am Feb 1, 2010 6:48am
Quoting o990l6mh
FXPro demo has Au, Ag and some stocks and indices. I think a few people around here use them.
yes i use FXPro
  • #53,544
  • Feb 1, 2010 7:13am Feb 1, 2010 7:13am
Waiting for the break can save your money.

And not waiting can Shave your money.

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  • #53,545
  • Feb 1, 2010 7:25am Feb 1, 2010 7:25am
Possible short here. I'm waiting for a 4hr close that I can live with. Here is a 3hr Oanda chart (closed)and a FXPro 4hr. Possible pin off 1.5750, divergence.

K.I.S.S.
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  • #53,546
  • Feb 1, 2010 7:27am Feb 1, 2010 7:27am
If this 4H bar could close above 1.6842. It would have all potential to break through 1.6870 or even 1.6900.

But 1.6945. well lets see.
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  • #53,547
  • Feb 1, 2010 8:01am Feb 1, 2010 8:01am
Morning guys,

Nice looking pin at a swing low. Besides sitting on a ppz I don't see much confluence. Such a nice looking pin. Tempted to take it lol
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  • #53,548
  • Feb 1, 2010 8:18am Feb 1, 2010 8:18am
Quoting Ezzy
Just for my own learning, would this be a A PB, B, C etc.

Also if it were off the 1.700, would it then be an A++ PB.

Thanks
Hey Ez

You are going to get different views depending on the type of trader, but since you asked for me that is about a D pin. Just small, not a great close, not in a lot of space, not too much going for it for me.

Best
Mike
  • #53,549
  • Feb 1, 2010 8:20am Feb 1, 2010 8:20am
Quoting printer69
the very best Roman cousine and wine...

thank you
sounds delicious
  • #53,550
  • Feb 1, 2010 8:21am Feb 1, 2010 8:21am
Quoting Prof Hunter
Anno, I, myself had to tackle with that problem.
The solution(s) come from knowing the differences among the diff. viewpoints of risk. (See My post here:
http://www.forexfactory.com/showpost...5&postcount=27)

As Your acc. grows, its size can change significantly, compare to Your living cost, or all You have, but still not reach Your dream.
It can cause 'tension' in Your trading, because your account risk % is unchanged, but You start to compare it to indifferent things, like above. If You had endless mental capital, it would...
so true , so true. There are so many tradeoffs you guys are going to find as you grow both capital wise and mental wise as a trader. It doesn't end with the charts, that is for sure

Mike
  • #53,551
  • Feb 1, 2010 8:22am Feb 1, 2010 8:22am
Quoting Ezzy
Mbqb11

Just watched your pin bars and break out webinars, very nice! Many thanks
Thank you sir, I will cut up a clip again for you guys soon, just been so busy
  • #53,552
  • Feb 1, 2010 9:34am Feb 1, 2010 9:34am
Quoting KissFan
Possible short here. I'm waiting for a 4hr close that I can live with. Here is a 3hr Oanda chart (closed)and a FXPro 4hr. Possible pin off 1.5750, divergence.

K.I.S.S.
Four different feeds and none of them gave me the short signal I wanted. I will persevere! LOL!! The things one must endure as a trader.

K.I.S.S.
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  • #53,553
  • Feb 1, 2010 9:36am Feb 1, 2010 9:36am
hi all
i'm reading this great thread from both sides (almost 100-th page from beginning and with you from some time). Great stuff!!!
I've one question, would you consider pin bar consisting of two 4H candles, could something like that be a "proper signal"? (of course if it finish like that).
Could it be considered as a 8H pin bar?
regards
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  • #53,554
  • Feb 1, 2010 9:38am Feb 1, 2010 9:38am
Quoting Dan Gilbert
I also have moved my S/L to BE on this pair, I am not closing half until we get to 1.6807 though...
well, that was effective....

wait to see what happens from here....
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Many choose unhappiness over uncertainty.
  • #53,555
  • Feb 1, 2010 9:39am Feb 1, 2010 9:39am
Quoting mbqb11
sounds delicious
yeahhhhhh mbqb11 indeed...!!

at present the only subject I can face a talk "au pair" with you maybe is WINE...!!!

bullish outside, resistance, bearish, money management, breakout, support, trend long short...wow!
but those sound delicious to me as well...wanna know more now
  • #53,556
  • Edited 10:38am Feb 1, 2010 10:15am | Edited 10:38am
Quoting Ghettobuddha
Morning guys,

Nice looking pin at a swing low. Besides sitting on a ppz I don't see much confluence. Such a nice looking pin. Tempted to take it lol
The gbp/usd pin bar just nailed it's halfway mark (50% fib) before moving higher again. (Had to run for the reinforcements). With the entry and stop already set there, let's see how it turns out! best of luck to everyone today and this upcoming week! BTW, Nasir, I'm writing back to you now. I would swear we were twins.
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I dream, therefore I become.
  • #53,557
  • Feb 1, 2010 10:16am Feb 1, 2010 10:16am
Quoting oromek
hi all
i'm reading this great thread from both sides (almost 100-th page from beginning and with you from some time). Great stuff!!!
I've one question, would you consider pin bar consisting of two 4H candles, could something like that be a "proper signal"? (of course if it finish like that).
Could it be considered as a 8H pin bar?
regards
Hi Oromek,

Welcome to the thread. You can add the open/high/low/close of two bars to make an 8h or 2d pin. But, be careful, because the close needs to be within the previous two bars range. When you posted your chart it was not yet a 2 bar pin.

Also, I'm sure you've read this a lot. But, the best advice you can find on this thread is in the first post, where it says to start with daily chart formations, and to spend time on a demo account until you are consistently profitable. Continue reading the whole thread, it will definitely improve your trading.

Anyway, I'm assuming you are just asking to increase your knowledge, in which case, please continue to ask questions like these as they are helpful to other new traders.

Welcome and good luck Oromek!

Cory
  • #53,558
  • Feb 1, 2010 11:02am Feb 1, 2010 11:02am
Quoting mike w
The gbp/usd pin bar just nailed it's halfway mark (50% fib) before moving higher again. (Had to run for the reinforcements). With the entry and stop already set there, let's see how it turns out! best of luck to everyone today and this upcoming week! BTW, Nasir, I'm writing back to you now. I would swear we were twins.
Got your PM.

LOL we are.

same story.

And now lets work hard for a happy ending.
  • #53,559
  • Feb 1, 2010 11:20am Feb 1, 2010 11:20am
Quoting KissFan
Four different feeds and none of them gave me the short signal I wanted. I will persevere! LOL!! The things one must endure as a trader.

K.I.S.S.
Their charts blow anyway........but just in case you didn't know you can remove those hours off your charts (on the weekend) to avoid all the dashes like that. I really only use their charts for early Sunday trading to see what is going on.

Nathan
  • #53,560
  • Feb 1, 2010 11:22am Feb 1, 2010 11:22am
Quoting Cbh123
Hi Oromek,

Welcome to the thread....

thanks a lot Cory for this response
this thread is great, and i'm 100% sure that all my questions are already answered in previous pages, but this question was somehow urgent for me
I can observe sometimes such patterns of 2 or even 3 bars building pin bar, and i was very curious how do you treat that.
I'm still in a testing stage, but so far results are very good, about 800 earned pips during last 5-6 weeks on demo account. Ofcourse there is a lot of to read and test before starting live, but with you and your stuff i feel i'm finally on right path.
Thanks a lot to all, and of course to almost divine character James16
regards
oromek
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