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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

  • #63,781
  • May 14, 2010 4:27am May 14, 2010 4:27am
Quoting Pinbar
I was thinking that, as price has already tested the 50 fibo and been rejected, this may be a trend continuation all the way to the 23.6

Just understand that the location of the BEOB is not the ideal. They can be risky as a continuation play.
Indicators show the past. Price Action "Indicates" the future.
  • #63,782
  • May 14, 2010 4:28am May 14, 2010 4:28am
Quoting NosferatuMan
Don't get me wrong.

I speak in terms of position sizing and giving a bit of room for the trade do develop (again, we are talking generally and not this specific CHFJPY trade).
This doesn't mean taking a full bar loss if the trade goes against you.

I see Nos. I agree.
Indicators show the past. Price Action "Indicates" the future.
  • #63,783
  • May 14, 2010 4:29am May 14, 2010 4:29am
Quoting bundyraider
Ok. Ask me again next week when I'm back home. I'm a trippin'

...trippin' out. Campin'

Crackers and flares and all happening here. LOL

...damn hooligans.
enjoy buddy! im doing a bit of the same here in sunny ireland!!

btw eu finally hit my 125 target!!.......and keeps on going!! i thought we would have had a stronger reaction to that price???(glad i left a little running)
anyone else saw this level as something??

jon
PATIENCE... DISCIPLINE
  • #63,784
  • May 14, 2010 4:30am May 14, 2010 4:30am
don't know I am doing anything wrong here, but, looks like good location and space, with trend, 50 fib and BRN 86.
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  • #63,785
  • May 14, 2010 4:36am May 14, 2010 4:36am
Crude breaks down as expected, unfortunately, I was knocked off by the pullback spike
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  • #63,786
  • May 14, 2010 4:39am May 14, 2010 4:39am
enjoy the fireworks, bundy, see you around

Quoting bundyraider
Ok. Ask me again next week when I'm back home. I'm a trippin'

...trippin' out. Campin'

Crackers and flares and all happening here. LOL

...damn hooligans.
  • #63,787
  • May 14, 2010 4:42am May 14, 2010 4:42am
Quoting jarroo
Just understand that the location of the BEOB is not the ideal. They can be risky as a continuation play.

I think it is possibly in the groove.
That said, I also agree that it is not one of those high probability trades, and that is what we are supposed to be learning.

I shall make this another thing to check on my checklist and try to take BU PA at swing highs and BE PA at swing lows.

Thanks for the gentle prod Jarroo.
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  • #63,788
  • May 14, 2010 4:50am May 14, 2010 4:50am
Quoting Pinbar
I think it is possibly in the groove.
That said, I also agree that it is not one of those high probability trades, and that is what we are supposed to be learning.

I shall make this another thing to check on my checklist and try to take BU PA at swing highs and BE PA at swing lows.

Thanks for the gentle prod Jarroo.

Its all about being picky Pb. A+ trades are the way to go. If they are not the ideal . . tight management required. This is just the way I do things. You may find a different style.

I guess you should have left some on the table on the Gbp/Jpy from yesterday. (just kidding).




(No more "Not worthy" smiley faces please. thx)
Indicators show the past. Price Action "Indicates" the future.
  • #63,789
  • May 14, 2010 4:51am May 14, 2010 4:51am
This can be a great trade on the CADJPY, I just need that bar to close below that range (that low bar in the Blue area).

May be a BEOB engulfing 2 prior bars + PPZ + BRN.
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  • #63,790
  • May 14, 2010 5:01am May 14, 2010 5:01am
Quoting Atc
A few charts I'm watching prior to daily close 5 pm ET

Don't pay attention to PPZs or Fibs on my charts>>>>did not have a chance to correct them.

Just looking for thoughts...still learning

Thanks---if you want to comment
How did they work out Atc?
Indicators show the past. Price Action "Indicates" the future.
  • #63,791
  • May 14, 2010 5:04am May 14, 2010 5:04am
Quoting jeurre
don't know I am doing anything wrong here, but, looks like good location and space, with trend, 50 fib and BRN 86.
looks good and i would like it also if the gb decides to pull back today..?? it jus doesnt seem to want to. be carefull of being brought into the trade by a few pips here just to see it go the other way... maybe a trade from the retest(if it happens might be a safer trade in this situation..??
jus my thoughts, i hope it helps

jon

EDIT: although that 145.00 is a strong level...???
PATIENCE... DISCIPLINE
  • #63,792
  • May 14, 2010 5:06am May 14, 2010 5:06am
Quoting g_j_hook@yah
a 1h pin on gold looks pretty good,a nice retest of the last highs, 50 ema,its is also on the 23%fib if that takes your fancy??
i like the 4h bar which could have cleaned up the order flow a little and may let price reach the 1243.00 area wjthout too much influence from the bar highs previous to it??
will take it on my demo (if it breaks??)and see what happens.

i can post charts but my laptop wont save them even though it says it has!!!???

jon
thibgs are looking good for this trade right now...??? closed 2/3rds and got a runner for free.......if it runs lol

jon
PATIENCE... DISCIPLINE
  • #63,793
  • May 14, 2010 5:10am May 14, 2010 5:10am
Quoting (Yaniv)
This can be a great trade on the CADJPY, I just need that bar to close below that range (that low bar in the Blue area).

May be a BEOB engulfing 2 prior bars + PPZ + BRN.

Big PA at Big Round Numbers. I nice close below the the 90.00 would be nice.
Indicators show the past. Price Action "Indicates" the future.
  • #63,794
  • May 14, 2010 5:13am May 14, 2010 5:13am
Quoting jarroo
Big PA at Big Round Numbers. I nice close below the the 90.00 would be nice.
Yes, but i want it to engulf 2 bars, not just 1. So in this case i will need it to close not just below 90.0 but a little lower (below 89.75 which is 11/05 daily low).

But that's just me being picky

Yaniv
  • #63,795
  • May 14, 2010 5:15am May 14, 2010 5:15am
Quoting (Yaniv)
Yes, but i want it to engulf 2 bars, not just 1. So in this case i will need it to close not just below 90.0 but a little lower (below 89.75 which is 11/05 daily low).

But that's just me being picky

Yaniv

lol . . . I like your style Yaniv.
Indicators show the past. Price Action "Indicates" the future.
  • #63,796
  • May 14, 2010 5:18am May 14, 2010 5:18am
Quoting jarroo
Its all about being picky Pb. A+ trades are the way to go. If they are not the ideal . . tight management required. This is just the way I do things. You may find a different style.

I guess you should have left some on the table on the Gbp/Jpy from yesterday. (just kidding).




(No more "Not worthy" smiley faces please. thx)

Yeah....Lol

I did but my TS got hit and I don't like re entering trades.

Still, I traded a full lot and after scaling out, I came out of it with a 7% increase in my account in that one trade alone.
Maybe a full lot is what made me trail it too tight.
  • #63,797
  • May 14, 2010 5:19am May 14, 2010 5:19am
Quoting jarroo
lol . . . I like your style Yaniv.

Thank you Jim, these words that are coming from you mean a lot to me.
  • #63,798
  • May 14, 2010 5:21am May 14, 2010 5:21am
This USD/CAD is now at the Weekly M2 Pivot Point which in Confluent with the Daily R2 Pivot Point. Lock your profits. I'd expect new buyers to come in around the Daily M4 at 1.0250 but you can't deny hitting R2 on Friday.
Live to trade another day...
  • #63,799
  • May 14, 2010 5:23am May 14, 2010 5:23am
Quoting Pinbar
Yeah....Lol

I did but my TS got hit and I don't like re entering trades.

Still, I traded a full lot and after scaling out, I came out of it with a 7% increase in my account in that one trade alone.
Maybe a full lot is what made me trail it too tight.

Phew! 7% in one trade? That is like 7 wks of gain for myself (and perhaps Dan too) conservatively speaking.

Good on ya!

CY
  • #63,800
  • May 14, 2010 5:25am May 14, 2010 5:25am
Quoting jarroo
How did they work out Atc?
As you probably saw...these were not A+ trades...however my experience has taught me that I need to let the trade breath, with that said my stop loss on the CHF/JPY was higher than most in addition to needed get some sleep.

Also, it appeared to me that the CAD/JPY PB had that "cherry picker" look to it so was rated higher probably IMO...so lot size was larger.

I am truly indebted to you-Jarroo, the seniors(to many to mention) and all of you here for improving my trading...my trading has become more fun...able to trust what I see...sleep well...more mechancial...stress free.
Bill
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