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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

  • #55,601
  • Feb 21, 2010 4:55pm Feb 21, 2010 4:55pm
Quoting o990l6mh
Yes, the 365 comes in at around 1.0730 so I will be placing my order below that level, if i decide to place an order.

Notice also how the first pin bar you mentioned tested and made a whipsaw break through the 4H trendline. That trendline was again broken through with a close below it as Friday closed.
Yeah thats a good point, I am not playing anything, theres a some pin bars but they are all heading into brick walls, and no of them stand out. The chf one looks the most convincing, but it looks more like a outside bar that didn't quite make it.
  • #55,602
  • Feb 21, 2010 5:07pm Feb 21, 2010 5:07pm
Hi there guys.

Sorry to be a pain but I had a problem with my pc & consequently lost the j16 EA from my desktop. Could someone please post this so that I can upload it to my FXPro platform? Perhaps this is something that can be posted to the start of this thread? I think that this would be quite useful for everyone.



Many thanks again
  • #55,603
  • Feb 21, 2010 5:07pm Feb 21, 2010 5:07pm
Hi,

If I may, then I would like to share my opinion about the USDCHF pair. I think it is a good time to long the pair as it moves in an uptrend now and on an hourly chart, it has gained its long direction after a 61.8% fib level retracement. So we can have a decent long term strategy and place a TP at 1.0900 and a SL at 1.0700.
[IMG]file:///C:/DOCUME%7E1/RAJUBH%7E1/LOCALS%7E1/Temp/moz-screenshot.png[/IMG]
[IMG]file:///C:/DOCUME%7E1/RAJUBH%7E1/LOCALS%7E1/Temp/moz-screenshot-1.png[/IMG]I have attached a screen shot of the same for a reference.
Attached File(s)
File Type: doc USDCHF.doc   130 KB | 436 downloads
  • #55,604
  • Feb 21, 2010 5:23pm Feb 21, 2010 5:23pm
Quoting Pinnocchio_S
Hi there guys.

Sorry to be a pain but I had a problem with my pc & consequently lost the j16 EA from my desktop. Could someone please post this so that I can upload it to my FXPro platform? Perhaps this is something that can be posted to the start of this thread? I think that this would be quite useful for everyone.



Many thanks again
Click the paperclip in the top right of the forum, then 'hide images'. You'll find it in there.
  • #55,605
  • Feb 21, 2010 5:27pm Feb 21, 2010 5:27pm
Quoting nickypon
Yes. I also took a full bar loss on Fridays usdcad. Lost 3 % of my account. Looking back it was at a great level but overhead resistance was close.
Why full bar? That makes no sense when you look at charts below, unless it was a mistake on your part. I still make them.
One thing to remember (imho) from this experience is:
When you play daily bars against weekly bars.. weekly 'almost' always wins.
I should add to THE PIP.
Attached Images
  • #55,606
  • Feb 21, 2010 5:42pm Feb 21, 2010 5:42pm
Quoting unlv_tj

Fox News ratings, in the USA, are probably about 2 to 1 v. NBC or CNN.

...
This reminds me..
I became profitable the minute I stopped watching news... and I don't mean news on economics.

Any news feeds negativity into your brain and clouds your perception. Once you 'turn off' the news, wealth WILL start flowing from all directions to you. ... and I don't mean just financial wealth.

If you don't get this statement, it's ok. Rome wasn't build in one day....
  • #55,607
  • Feb 21, 2010 5:56pm Feb 21, 2010 5:56pm
Quoting raczekfx
This reminds me..
I became profitable the minute I stopped watching news... and I don't mean news on economics.

Any news feeds negativity into your brain and clouds your perception. Once you 'turn off' the news, wealth WILL start flowing from all directions to you. ... and I don't mean just financial wealth.

If you don't get this statement, it's ok. Rome wasn't build in one day....


A better answer for sure (Canada will go down to the US on the ice - real soon now)
I'm pretty much done with all this ...
  • #55,608
  • Feb 21, 2010 6:09pm Feb 21, 2010 6:09pm
Quoting dobe_r_man

Regarding the fib, I just have had better success when price crosses whatever area I am watching and then is rejected below it. Just a personal thing, not saying it couldn't work.

Nathan

dobe_r_man,

Thanks Nathan, I shall keep an eye out for that.

Jason
  • #55,609
  • Feb 21, 2010 6:24pm Feb 21, 2010 6:24pm
Quoting Bryan
She's also showing a weekly beob. Would the weekly beob override the daily bullish pin? If so, would you trade the weekly or just pass entirely?
Higher time frames setups always overide the lower time frame setups in my book.

But let me ask you this . . . is the Weekly BEOB (Gbp/Usd) an A+ setup or of high quality? . . no . . . BEOB need to be at a swing High with supporting confluences.

The Weekly BEOB could be a continuation setup of the down trend, . . . possibly but they can be risky.

So does this give more weight to the Daily PB? A little bit but not much. I would like to see some bolder PA off the 1.55.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guweekly21.gif Size: 23 KB
Click to Enlarge Name: gudaily21.gif Size: 26 KB
Indicators show the past. Price Action "Indicates" the future.
  • #55,610
  • Feb 21, 2010 6:50pm Feb 21, 2010 6:50pm
Alright my yank friends,

Get ready to get your ass whooped in hockey tonight.

Its on

GO CANADA GO!
lowest draw down possible please.
  • #55,611
  • Feb 21, 2010 7:28pm Feb 21, 2010 7:28pm
Quoting ehrek
Alright my yank friends,

Get ready to get your ass whooped in hockey tonight.

Its on

GO CANADA GO!
a good one so far
  • #55,612
  • Feb 21, 2010 7:34pm Feb 21, 2010 7:34pm
Quoting mbqb11
a good one so far
Good action, EH?

Canada has like 20 shots to 6 on the net. Miller is an awesome goalie.
lowest draw down possible please.
  • #55,613
  • Feb 21, 2010 8:05pm Feb 21, 2010 8:05pm
Quoting ehrek
Good action, EH?

Canada has like 20 shots to 6 on the net. Miller is an awesome goalie.
wow talk about good action how can you not love this
  • #55,614
  • Feb 21, 2010 8:17pm Feb 21, 2010 8:17pm
Quoting mbqb11
wow talk about good action how can you not love this
Absolutly amazing hockey!
  • #55,615
  • Feb 21, 2010 8:22pm Feb 21, 2010 8:22pm
Quoting sagard21
Hi,
It is indeed a pleasure....
I would be a regular visitor to this post....
Hello Sagar!
Welcome & See u around!
  • #55,616
  • Feb 21, 2010 8:56pm Feb 21, 2010 8:56pm
*sigh*

Miller won the game..

and the Canadian goalie.. argh.. I don't know.
lowest draw down possible please.
  • #55,617
  • Feb 21, 2010 8:57pm Feb 21, 2010 8:57pm
Quoting Pinnocchio_S
Hi there guys.
Sorry to be a pain...
u are a pain...
here
  • #55,618
  • Feb 21, 2010 8:58pm Feb 21, 2010 8:58pm
Quoting Prof Hunter
Jim!
Curious, how do You handle this kind of situation.
Would You sell the GREEN bar (arrow) low break?
Or not, because...
THX, PH
Yes sir. I'm in on this one . . . looking for the 1.7000 as the 1st target.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf2day.gif Size: 25 KB
Indicators show the past. Price Action "Indicates" the future.
  • #55,619
  • Feb 21, 2010 10:55pm Feb 21, 2010 10:55pm
Ok here they come!!!(Questions that is)
How well does this qualify as a pinbar?
It has retraced to the 61.8% level and is on it's way down.
Now personally I don't know if the pin extended as far as it should?
And I also wonder whether the entry into a trade like this should have been at the 61.8 level or at the break below the pin itself?
P.S I'm not after an entry tip, you can answer after it has happened if you like!!
Maybe I need to to some more reading to find the answers to these questions,
but I thought I'd ask anyway!
Thanks Dave.


Attached Image (click to enlarge)
Click to Enlarge Name: g7.gif Size: 22 KB
  • #55,620
  • Feb 21, 2010 11:01pm Feb 21, 2010 11:01pm
Quoting daveoz001
Ok here they come!!!(Questions that is)
How well does this qualify as a pinbar?
It has retraced to the 61.8% level and is on it's way down.
Now personally I don't know if the pin extended as far as it should?
And I also wonder whether the entry into a trade like this should have been at the 61.8 level or at the break below the pin itself?
P.S I'm not after an entry tip, you can answer after it has happened if you like!!
Maybe I need to to some more reading to find the answers to these questions,
but I thought I'd ask anyway!
Thanks Dave.


Attachment ...
Hey Dave

This one is close. Reason being the the body of the bar (open - close) looks to be the same size as the nose. We want the nose to be larger then the body. So I would say depending on how strict someone is with their bar criteria. I would personally want to see a larger nose(see jarroos post above). As for entry. That is going to come down to the trader. The traditional and most common way is to wait for a break of the low of the bar, with a stop above the high. But many people enter on retracements, some on the close etc.

Hope this helps
Mike
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