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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

  • #60,661
  • Apr 12, 2010 4:50am Apr 12, 2010 4:50am
Quoting Scotty2Cues
hi

placed my first demo order on friday on the eur/jpy. Put a buy stop at 125.81. Just woke up and there is a gap? How does it work. Why isnt the open as same as the close? (Typical Newbie Question) Moved my SL to 127
check out Mikes last post. basically the market isnt closed, your broker is. so orders can still go to the market when your broker is closed for the weekend and the difference in price will be shown as a gap.

hope this helps?

jon
PATIENCE... DISCIPLINE
  • #60,662
  • Apr 12, 2010 4:52am Apr 12, 2010 4:52am
Quoting bertie123
Hi guys

Anyone on this daily GB/CHF pin? Pin off of BRN and with the lonng -term daily trend, and with space? First target 1.6220 area.
hi bertie123, just a heads up about your first target,i have this target also but be aware there are trouble areas before we get there. the most notable is the 6300 area and the 6250 area.

jon
PATIENCE... DISCIPLINE
  • #60,663
  • Apr 12, 2010 5:06am Apr 12, 2010 5:06am
can anyone confirm this?

below is GC M30, I think it was IPB... and also it was just off same TF PPZ
what would have been your entry?

cheers
Winston
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #60,664
  • Apr 12, 2010 5:09am Apr 12, 2010 5:09am
Thank you jon,

I was just wondering about some PA action in eur/usd using the 4hr chart and 1hr and what were appropriates SL/L. I need to read more
  • #60,665
  • Apr 12, 2010 5:23am Apr 12, 2010 5:23am
Quoting NewinTown22
Thank you jon,

I was just wondering about some PA action in eur/usd using the 4hr chart and 1hr and what were appropriates SL/L. I need to read more
regarding stops, they would be put at the other end of the bar you are trading plus a few for a buffer. this is the norm although some like to use fibs to find a smaller stops,i.e. put it behind the 68% fib of the bar. Some also use the left eye of the pin(if it is a pin you are trading) to hide the stop behind, although these are more advanced methods and a little experience is nesesary to determine if they are valid for the specific setup.
remember to let the chart tell you where to place your stop and not your MM or desire to get a good R:R

jon
PATIENCE... DISCIPLINE
  • #60,666
  • Apr 12, 2010 5:54am Apr 12, 2010 5:54am
Quoting g_j_hook@yah
hi bertie123, just a heads up about your first target,i have this target also but be aware there are trouble areas before we get there. the most notable is the 6300 area and the 6250 area.

jon
Yeah

Right on hook, keeping an eye on those areas - will wait and see what happens man.
PA is where its at!!
  • #60,667
  • Apr 12, 2010 6:20am Apr 12, 2010 6:20am
Quoting oneuniverse
can anyone confirm this?
below is GC M30, I think it was IPB... and also it was just off same TF PPZ
what would have been your entry?..
hey Winston,
entry would be on the IPB's close, SL above the upper wick, target is end of lower wick (nose) & beyond
  • #60,668
  • Apr 12, 2010 6:38am Apr 12, 2010 6:38am
I took profit on the second half on CHFJPY near to the second trouble area...a beob is forming on my feed on the 1H timeframe..

Trade closed!
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,669
  • Apr 12, 2010 6:38am Apr 12, 2010 6:38am
Quoting jarroo
The market can be full of surprises as long as your protecting yourself along the way, they can be fun surprises.

Which reminds me of this . . .TiaForex (Aaron) comes to mind :

"The market should never surprise you, even though you never know what it's going to do."
yes true, since i have put my SL to BE on friday this was a free trade and i didnt had to worry about it, and with the TP hit, lets say this was a bonus

man i love this quote i have put it in my signature, hope TiaForex dont mind it (if he does i will remove it)
  • #60,670
  • Apr 12, 2010 6:51am Apr 12, 2010 6:51am
Quoting oneuniverse
can anyone confirm this?

below is GC M30, I think it was IPB... and also it was just off same TF PPZ
what would have been your entry?

cheers
Winston
my entry would be at 1.6375 with the TP just above 1.6350... its on a lower timeframe but i kinda like it cause of the big daily pin which points that the trend is down...

but i dont think i would take it since we're talking about a little more than 20 pips trade and with that huge gap over the weekend it would be a pass for me... i wouldnt trade lower timeframes with a gap like this...

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just my 2 cents,
ppfx
  • #60,671
  • Apr 12, 2010 7:43am Apr 12, 2010 7:43am
Quoting supremeChaos
hey Winston,
entry would be on the IPB's close, SL above the upper wick, target is end of lower wick (nose) & beyond
thankyou SC,
now the IPB Play is much clear! thank you Ghous and Mike for your wonderful insights!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #60,672
  • Apr 12, 2010 7:44am Apr 12, 2010 7:44am
Quoting ppfx
but i kinda like it cause of the big daily pin which points that the trend is down...

ppfx
ya, we had this setup in tune with the daily!
Trading is a delicate balance of Strategy , Money management and Psychology
  • #60,673
  • Apr 12, 2010 7:53am Apr 12, 2010 7:53am
Quoting oneuniverse
can anyone confirm this?

below is GC M30, I think it was IPB... and also it was just off same TF PPZ
what would have been your entry?

cheers
Winston
Yes. That is an IPB. Like S chaos said, We enter at the close of the bar, SL above the shorter wick and first TP is the end of the lower wick.

I wouldn't have taken this trade for 2 reasons. 1) I don't trade the M30. 2) I would wait for the gap to play around and get filled, before I start looking for my setups.

g.
I believe . . .
  • #60,674
  • Apr 12, 2010 8:30am Apr 12, 2010 8:30am
ohhh boy howdy, I do love it when the 4 hour lines up with the daily charts. It's small, but I care a LOT more about the location than I do the size. (You pervs, I know you laughed at that...)
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I dream, therefore I become.
  • #60,675
  • Apr 12, 2010 9:03am Apr 12, 2010 9:03am
Quoting mike w
ohhh boy howdy, I do love it when the 4 hour lines up with the daily charts. It's small, but I care a LOT more about the location than I do the size. (You pervs, I know you laughed at that...)
It's kind of struck. I won't play the PB but maybe a break of 92.80 and 92.30 as target..

EJ looks good though.
.
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  • #60,676
  • Edited 10:07am Apr 12, 2010 9:06am | Edited 10:07am
Quoting nasir.khan
It's kind of struck. I won't play the PB but maybe a break of 92.80 and 92.30 as target..

EJ looks good though.
.
Verrrryyyy nice analysis as always brother! I have close to the same target with 92.40. I also like your notions on the breakout too! I'm going to look into it further and possibly even add to my position (if it's still on) at that point. Thanks for posting that up Nasir, you showed me something that I hadn't yet noticed.
I dream, therefore I become.
  • #60,677
  • Edited 10:08am Apr 12, 2010 9:33am | Edited 10:08am
Quoting nasir.khan
It's kind of struck. I won't play the PB but maybe a break of 92.80 and 92.30 as target..

EJ looks good though.
.
I've looked into it a bit more...and you're brilliant man. You've really taken peak and trough and ran with it. I'm lovin it dude! I've been going through the pdf's and everything and it just clicks. Phenomenal material there.
I dream, therefore I become.
  • #60,678
  • Apr 12, 2010 9:39am Apr 12, 2010 9:39am
Quoting mike w
Verrrryyyy nice analysis as always brother! I have close to the same target with 92.40. I also like your notions on the breakout too! I'm going to look into it further and possibly even add to my position (if it's still on) at that point. Thanks for posting that up Nasir, you showed me something that I hadn't yet noticed.
Thanks for the boosting comments Mike, as always . ..
  • #60,679
  • Apr 12, 2010 9:48am Apr 12, 2010 9:48am
am I the only one who cheated on the GBPCHF pin and got in on the retrace???

This thing was just way too A+ for me to miss it. Probably the best pin bar I have seen since discovering J16
Attached Image
Many choose unhappiness over uncertainty.
  • #60,680
  • Apr 12, 2010 9:54am Apr 12, 2010 9:54am
Quoting bertie123
Hi dan

just wanted to ask if your AUd/NzD daily trade setup was taken as an Ib4 trade?
Yes I4B+squeeze alert. I didn't like it much because it's heading right into the VBRN 1.30. I have already taken 1/3 off on that one, and hope to get my stop pretty close to B/E at 5pm EST today
Many choose unhappiness over uncertainty.
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