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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

  • #60,741
  • Apr 13, 2010 1:05am Apr 13, 2010 1:05am
Quoting Dan Gilbert
You can sleep when you die?
You can move to the UK...
Gone to a better place
  • #60,742
  • Apr 13, 2010 1:08am Apr 13, 2010 1:08am
Quoting smikester
You can move to the UK...
Man i feel so lucky. London opens at 12.00PM here.
.
  • #60,743
  • Apr 13, 2010 1:17am Apr 13, 2010 1:17am
Quoting nasir.khan
Man i feel so lucky. London opens at 12.00PM here.
.

Double lucky, since I guess you don't have to work a "day job"
  • #60,744
  • Apr 13, 2010 1:24am Apr 13, 2010 1:24am
Quoting Bryan
Double lucky, since I guess you don't have to work a "day job"
No i have a JOB.

and my boss always takes a round after every 2 hours and he exactly stands behind my back for 10-15 mins.
.
  • #60,745
  • Apr 13, 2010 1:27am Apr 13, 2010 1:27am
Good morning!!

On my demo this order is ready....i'm targeting the close of the gap...any thoughts?

I did the same thing on EURJPY tonight and it worked perfectly..
Attached Image (click to enlarge)
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Market is like a puzzle, YOU have to fit the pieces!!
  • #60,746
  • Apr 13, 2010 1:31am Apr 13, 2010 1:31am
Quoting Chris_B
Good morning!!

On my demo this order is ready....i'm targeting the close of the gap...any thoughts?

I did the same thing on EURJPY tonight and it worked perfectly..
i've got the same order...looks pretty obvious to me...a break of the multiple lows and I would expect price to move quickly...(a build up of stops and sell orders)if it doesnt I'd be concerned.
  • #60,747
  • Apr 13, 2010 2:41am Apr 13, 2010 2:41am
Quoting lovejoy80
i've got the same order...looks pretty obvious to me...a break of the multiple lows and I would expect price to move quickly...(a build up of stops and sell orders)if it doesnt I'd be concerned.
What about an early entry.
.
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  • #60,748
  • Apr 13, 2010 2:46am Apr 13, 2010 2:46am
Quoting nasir.khan
What about an early entry.
.
Nice...I had a crappy pin bar on my feed for EU but a BEOB for EG...was pretty slow to react to EG
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  • #60,749
  • Apr 13, 2010 2:50am Apr 13, 2010 2:50am
Quoting lovejoy80
Nice...I had a crappy pin bar on my feed.
Ooops that's EG. lol
.
  • #60,750
  • Apr 13, 2010 2:53am Apr 13, 2010 2:53am
Quoting nasir.khan
Ooops that's EG. lol
.
lol...you did confuse me there...had to double check other feeds as your EG (which I though was EU) looked pretty different to mine lol.

I mucked up on EG earlier today.
  • #60,751
  • Apr 13, 2010 3:16am Apr 13, 2010 3:16am
No real price action on lower timeframes (well none that I could say was tradable) but a heavy confluenced area with the trend.
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  • #60,752
  • Apr 13, 2010 3:43am Apr 13, 2010 3:43am
attached is set up i took and mismanaged!! as you can see it took off!!!

i initially put my stop loss 90% of the way down on the pin bar and my buy stop 10 points above the pinbar
go into the trade the started going my way and then shifted my stop loss to top of pin bar. of course the price went down enough to stop out and then go directly to my TP and above!!!

what an excellent lesson i have learned, you need test every little thing for every set up you intend to play

Now i know about the timing of moving to BE.

Dont know if Jim still comes in here but thanks a million i will definitely be joining the PF in about 2 months!!
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Thank you J16 & Trader Dante
  • #60,753
  • Apr 13, 2010 4:44am Apr 13, 2010 4:44am
Quoting jarroo
I'm sure Aaron (TiaForex) won't mind. He's a great guy.

It is an excellent signature.
I don't mind at all. In fact I'm flattered and honored you'd use something I wrote as your signature, so thanks
  • #60,754
  • Apr 13, 2010 6:00am Apr 13, 2010 6:00am
Quoting TiaForex
I don't mind at all. In fact I'm flattered and honored you'd use something I wrote as your signature, so thanks
thank you sir
  • #60,755
  • Apr 13, 2010 7:39am Apr 13, 2010 7:39am
Hi guys

can anyone explain why we got all these gaps in the last few days and is anyone trading them? Are these gaps a good opportunity?
PA is where its at!!
  • #60,756
  • Apr 13, 2010 8:15am Apr 13, 2010 8:15am
Quoting bertie123
Hi guys

can anyone explain why we got all these gaps in the last few days and is anyone trading them? Are these gaps a good opportunity?
Great question, hope some folks respond.

I was temped to play the EURUSD break of 1.3550 down to about 1.3500, filling the gap and the break of the lows since the gap, but was not sure if it was a good play or not.

When in doubt, stay out.
  • #60,757
  • Apr 13, 2010 8:25am Apr 13, 2010 8:25am
Quoting nasir.khan
A possible touch trade.
.
And the train leaves without me.
  • #60,758
  • Apr 13, 2010 8:25am Apr 13, 2010 8:25am
Quoting bertie123
Hi guys

can anyone explain why we got all these gaps in the last few days and is anyone trading them? Are these gaps a good opportunity?
Not for me. I am pretty ok on the sidelines, while all the gaps get properly filled and the markets align themselves again...

g.
I believe . . .
  • #60,759
  • Apr 13, 2010 8:43am Apr 13, 2010 8:43am
Quoting nasir.khan
And the train leaves without me.
I reckon you'll get another chance...it initially bounced of a 4HR PPZ and is now retracing from another 4H PPZ...the TL now lines up with the lower PPZ...Oil is bouncing of a confluenced area too.
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  • #60,760
  • Apr 13, 2010 8:53am Apr 13, 2010 8:53am
Quoting bertie123
Hi guys

can anyone explain why we got all these gaps in the last few days and is anyone trading them? Are these gaps a good opportunity?
Hey Bertie

The exact answer why is nothing more to know then the markets were moving prior to when your broker was open(remember they are 24/7 markets). So there was some party who desired to be getting into the market at that time. This creates that gap that use when your broker finally does open. Gaps are notorious for closing, especially in the forex markets and thus create opportunities both on them to close(remember they don't have to close right away http://www.forexfactory.com/showpost...ostcount=56615 ) and also these gaped areas often act as a PPZ in themselves(see my last few posts).

Hope that helps
Mike
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