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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

  • #60,601
  • Apr 11, 2010 1:56pm Apr 11, 2010 1:56pm
gb/chf pin has broke quite nicley.....
let see wot happens??

jon
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  • #60,602
  • Apr 11, 2010 2:02pm Apr 11, 2010 2:02pm
Quoting g_j_hook@yah
gb/chf pin has broke quite nicley.....
let see wot happens??

jon
2 hours to market open for me so a likely gap will form...looking @ Oanda (open 24/7) can see that USD is broadly down with EU up some 70 pips already...presumably agreement annouced on Greece loans today is being received positively by the market.
  • #60,603
  • Apr 11, 2010 2:33pm Apr 11, 2010 2:33pm
Quoting lovejoy80
2 hours to market open for me so a likely gap will form...looking @ Oanda (open 24/7) can see that USD is broadly down with EU up some 70 pips already...presumably agreement annouced on Greece loans today is being received positively by the market.
ye, if thing dont change there is gonna be some fairly big gaps today. i dont like that prospect for my gb/chf short as they like to close again??
jon
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  • #60,604
  • Apr 11, 2010 2:48pm Apr 11, 2010 2:48pm
Quoting g_j_hook@yah
ye, if thing dont change there is gonna be some fairly big gaps today. i dont like that prospect for my gb/chf short as they like to close again??
jon
It wouldn't matter if they did would it as wouldn't that just mean price would return to your entry...being positive it would hopefully then pick up some sellers that got left behind by the gap and back down we go.

One of the great advantage of Oanda is being open 24/7 you can react to weekend news before the rest of the market opens...spreads are rubbish but when you expect 80+ pips moves that doesn't matter. I know these aren't technical trades but sometimes you cannot ignore the news IMO as there are certain news events which change market sentiment instantly creating very high probability trades.
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  • #60,605
  • Apr 11, 2010 2:54pm Apr 11, 2010 2:54pm
Quoting lovejoy80
It wouldn't matter if they did would it as wouldn't that just mean price would return to your entry...being positive it would hopefully then pick up some...
On that topic - how about a long EURPLN...
  • #60,606
  • Apr 11, 2010 3:50pm Apr 11, 2010 3:50pm
heres a couple of articles i found interesting...
hope some of you do also??

http://www.tischendorf.com/2010/03/2...k-cost-effect/

http://www.tischendorf.com/2009/10/1...ding-mistakes/

sorry i dont know how to paste as a link so just copy and paste the address to your browser.

jon
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  • #60,607
  • Apr 11, 2010 3:52pm Apr 11, 2010 3:52pm
Quoting o990l6mh
On that topic - how about a long EURPLN...
Not sure I get what you mean?
  • #60,608
  • Apr 11, 2010 4:00pm Apr 11, 2010 4:00pm
Quoting lovejoy80
Not sure I get what you mean?
Since the terrible plane crash that took out half the Polish political elite, one could imagine some sort of volatility in their currency.

It was just an example of the sort of thing that could cause weekend gaps. Not at all sure it will, just an example.
  • #60,609
  • Apr 11, 2010 4:04pm Apr 11, 2010 4:04pm
Loving the open of my USD/CHF trade!
Cap
  • #60,610
  • Apr 11, 2010 4:17pm Apr 11, 2010 4:17pm
Quoting The Captain
Loving the open of my USD/CHF trade!
Quoting jarroo
I don't care . . about that. I don't care if once my net zero gain happens or my stop loss at break even gets hit and then Price runs for a ZILLION pips. Because trust me, IT WILL HAPPEN. Oh boy . .will it happen. But guess what . .. it will also happen in reverse. Price takes you out at break even and runs behind you for a zillion pips. That's when you smile and never forget.

I hope this helps, skin. Ask questions please.

Jim

This is what I mean about a zillion pips. lol

Those that placed their S/L above the PB . . .. good for you. Well done.
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Indicators show the past. Price Action "Indicates" the future.
  • #60,611
  • Apr 11, 2010 4:24pm Apr 11, 2010 4:24pm
Quoting jarroo
No, I don't consider the RR before I make a trade. It is usually after the fact that I look at the RR of a given trade, if I do at all.

My main focus is looking at the Quality of the setup by its Location, Supporting Confluences and the Structure of the Price Action Formation in terms of size, shape, Opens/Close, etc.

I do tend to have tight stop loss placements on a given setup with the 1st target in mind. Many times, once the 1st target is hit the RR on the setup isn't fullfilled yet. So a trader will wait until it is hit.

I look at the...

Although my Eur/Jpy is feeling good.
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Indicators show the past. Price Action "Indicates" the future.
  • #60,612
  • Apr 11, 2010 4:27pm Apr 11, 2010 4:27pm
Quoting jarroo
Although my Eur/Jpy is feeling good.
Same as here That Thursday/Friday "night charts camping" with Mike around here was worth not sleeping
  • #60,613
  • Apr 11, 2010 4:31pm Apr 11, 2010 4:31pm
Quoting g_j_hook@yah
gb/chf pin has broke quite nicley.....
let see wot happens??

jon

How pretty was that setup. Very nice. (Damn weekend. lol)
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Indicators show the past. Price Action "Indicates" the future.
  • #60,614
  • Apr 11, 2010 4:31pm Apr 11, 2010 4:31pm
Quoting giotto
Same as here That Thursday/Friday "night charts camping" with Mike around here was worth not sleeping
The "Mike Camp" is a good camp to be in.
Indicators show the past. Price Action "Indicates" the future.
  • #60,615
  • Apr 11, 2010 4:35pm Apr 11, 2010 4:35pm
Quoting jarroo
How pretty was that setup. Very nice. (Damn weekend. lol)
kinda sucks ya but the good thing is hopefully very volatile week coming! How many people but traders get excited over something like that
  • #60,616
  • Apr 11, 2010 4:37pm Apr 11, 2010 4:37pm
Quoting mbqb11
kinda sucks ya but the good thing is hopefully very volatile week coming! How many people but traders get excited over something like that

lol Traders. You gotta love it! lol
Indicators show the past. Price Action "Indicates" the future.
  • #60,617
  • Apr 11, 2010 4:39pm Apr 11, 2010 4:39pm
Quoting jarroo
How pretty was that setup. Very nice. (Damn weekend. lol)
yeah.. damn weekends!!... lol


jon
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  • #60,618
  • Apr 11, 2010 4:41pm Apr 11, 2010 4:41pm
Quoting jarroo
Although my Eur/Jpy is feeling good.
lol..swing n roundabouts my friend!... i closed all my yen long trades at the end of frid!! doh lol

still a prifit is a profit is a ...

jon
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  • #60,619
  • Apr 11, 2010 4:44pm Apr 11, 2010 4:44pm
Oh my God, Mickelson . . .what a shot!
Indicators show the past. Price Action "Indicates" the future.
  • #60,620
  • Apr 11, 2010 4:45pm Apr 11, 2010 4:45pm
Quoting mbqb11
kinda sucks ya but the good thing is hopefully very volatile week coming! How many people but traders get excited over something like that
lol, we must look a strange bunch to them normal folk!! lol

is it jus the volitility that makes you think it could continue through the week?

jon
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