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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

  • #64,101
  • May 18, 2010 9:08am May 18, 2010 9:08am
Hello All
I'm very interested to know ur view about u/cad ? , And maybe oil you know both related

Thanks
  • #64,102
  • May 18, 2010 9:24am May 18, 2010 9:24am
hi,guys, what is your take on the gold chart? the pin looks small though, the location isn't bad in lieu of correction. I noticed it tested fta, now stucked in between the fta and pinbar high as support. if I think the odd lives with trend, could I bet on the break of the resistance to move higher? of course, it may do down to retest the pin low before restore its uptrend, but, given the way price broke the pin high immediately after its close,this seems to me higher odd to retest and break out the fta north. that's my thinking process, don't know if it made any sense. thanks.
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  • #64,103
  • May 18, 2010 9:27am May 18, 2010 9:27am
Quoting jeurre
hi,guys, what is your take on the gold chart? the pin looks small though, the location isn't bad in lieu of correction. I noticed it tested fta, now stucked in between the fta and pinbar high as support. if I think the odd lives with trend, could I bet on the break of the resistance to move higher? of course, it may do down to retest the pin low before restore its uptrend, but, given the way price broke the pin high immediately after its close,this seems to me higher odd to retest and break out the fta north. that's my thinking process, don't know...
I actually really liked that pin a lot, but I wish I would have placed a larger buffer on my buy, that FTA is killing it
Many choose unhappiness over uncertainty.
  • #64,104
  • May 18, 2010 9:34am May 18, 2010 9:34am
cool, what is your larger buffer ? I take the word as large stop, is it correct, Dan?

Quoting Dan Gilbert
I actually really liked that pin a lot, but I wish I would have placed a larger buffer on my buy, that FTA is killing it
  • #64,105
  • May 18, 2010 9:35am May 18, 2010 9:35am
Quoting jeurre
cool, what is your larger buffer ? I take the word as large stop, is it correct, Dan?
no, I mean I should not have bought until it made a clear break through that FTA. after the FTA, buy
Many choose unhappiness over uncertainty.
  • #64,106
  • May 18, 2010 9:36am May 18, 2010 9:36am
Quoting Pinbar
You know the average Japanese salary man, earns over 150,000,000 million in their lifetime. And that is living in a rabbit hut.



PS: I would still trade forex, but not with all the money, perhaps 50,000,000 would do just fine.
yen?
  • #64,107
  • May 18, 2010 9:37am May 18, 2010 9:37am
I see, thanks a lot, Dan

Quoting Dan Gilbert
no, I mean I I should not have bought until it made a clear break through that FTA. after the FTA, buy
  • #64,108
  • May 18, 2010 9:49am May 18, 2010 9:49am
Quoting emiliolopez
yen?
god I hope so lol!
Many choose unhappiness over uncertainty.
  • #64,109
  • May 18, 2010 10:17am May 18, 2010 10:17am
Quoting egkid
Hello All
I'm very interested to know ur view about u/cad ? , And maybe oil you know both related

Thanks
My view and i could be wrong Comdolls bloodbath
If anyone interested let's have discussion about it.

Ps: I trade long term " Days/weeks/ Months" and My analysis use fundamental and technical
  • #64,110
  • May 18, 2010 10:27am May 18, 2010 10:27am
Quoting egkid
My view and i could be wrong Comdolls bloodbath
If anyone interested let's have discussion about it.

Ps: I trade long term " Days/weeks/ Months" and My analysis use fundamental and technical
<=====this man's very interested. The rising wedges (now breaking) on AUD/USD and NZD/USD were pointed out to me some time ago by gatorinla. Tell me all about it...
Gone to a better place
  • #64,111
  • May 18, 2010 10:27am May 18, 2010 10:27am
Quoting egkid
Hello All
I'm very interested to know ur view about u/cad ? , And maybe oil you know both related

Thanks
this is my position, entered in the daily pb 4 days ago

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  • #64,112
  • May 18, 2010 10:33am May 18, 2010 10:33am
Quoting egkid
My view and i could be wrong Comdolls bloodbath
If anyone interested let's have discussion about it.

Ps: I trade long term " Days/weeks/ Months" and My analysis use fundamental and technical

Are you seeing a long term dip in DOW, combined with all commodities, falling with that, comdolls?

IE, 2008 repeat?
Many choose unhappiness over uncertainty.
  • #64,113
  • May 18, 2010 10:57am May 18, 2010 10:57am
Quoting Dan Gilbert
I guess I should have said I would prefer to buy at 1.1244 than to try selling with that pinbar.

I was almost right
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Many choose unhappiness over uncertainty.
  • #64,114
  • May 18, 2010 10:57am May 18, 2010 10:57am
It seems like momental lose of 766 pips!!! I set up buy or sell stops on pinbars at daily charts... Or wannabe pinbars... but I was really bloody surprised when I saw this development when I came from work... Can anybody explain, what went wrong till this time?? If anybody wants chart by chart, i will post it. Thanks guys...
By the way... I am studying this thread daily, I am on page 121 post 1804 now.... Thats great thread, thank you James!!!! god bless you and your family and of course all of you guys!!!
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  • #64,115
  • May 18, 2010 11:01am May 18, 2010 11:01am
Quoting feri z kosic
It seems like momental lose of 766 pips!!! I set up buy or sell stops on pinbars at daily charts... Or wannabe pinbars... but I was really bloody surprised when I saw this development when I came from work... Can anybody explain, what went wrong till this time?? If anybody wants chart by chart, i will post it. Thanks guys...
By the way... I am studying this thread daily, I am on page 121 post 1804 now.... Thats great thread, thank you James!!!! god bless you and your family and of course all of you guys!!!
Here's how I broke it down:

http://www.forexfactory.com/showpost...6&postcount=45
Many choose unhappiness over uncertainty.
  • #64,116
  • May 18, 2010 11:30am May 18, 2010 11:30am
Quoting Dan Gilbert
I was almost right
  • #64,117
  • May 18, 2010 11:42am May 18, 2010 11:42am
Quoting feri z kosic
It seems like momental lose of 766 pips!!! I set up buy or sell stops on pinbars at daily charts... Or wannabe pinbars... but I was really bloody surprised when I saw this development when I came from work... Can anybody explain, what went wrong till this time?? If anybody wants chart by chart, i will post it. Thanks guys...
By the way... I am studying this thread daily, I am on page 121 post 1804 now.... Thats great thread, thank you James!!!! god bless you and your family and of course all of you guys!!!

I did this too and i'm thinking am i doing all wrong. I'm glad im in demo account. I studying this stuff too and have been doing it for few weeks. I'm on page 141 now and lots to read...
  • #64,118
  • May 18, 2010 12:04pm May 18, 2010 12:04pm
Mike loves his big round nos
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Simplicity is the key to success
  • #64,119
  • May 18, 2010 12:09pm May 18, 2010 12:09pm
Quoting Dan Gilbert
Here's how I broke it down:

http://www.forexfactory.com/showpost...6&postcount=45
and to add what I said.

http://www.forexfactory.com/showpost...ostcount=64020

All these bars did as much as we can expect trading into their areas.

I marked all the charts for you.

Gbp/usd never broke the high = not a valid bar + trading right into 1.4500 your buy stop should go above this area. If it did break the high on your broke no bar was able close above that round number.

usd/jpy - not a pinbar as the nose was not lower and clearly lower then the previous bar , this should be an easy pass.

eur/usd = very small pinbar after a huge run. One tip is not to zoom your charts in so much. This is going to deceive you greatly into what is going on

aud/usd - on my chart I dont even have anything remote. But see my usd/jpy analysis for this one.

usd/chf = see chart. Small pinbar after huge run, not any other confluence. Goes to previous bar high and reverses.

gbp/jpy - very minor swing point, heavy traffic pinbar.; Could not close above 135 makes 135 your first trouble area and thus went to where expected.

usd/cad- hit first trouble are, in a lot of traffic this pinbar. (see chart) . You have to do something at this are with a bar like this(like usd/chf).

eur/jpy - again small pinbar after huge run that could not close above the round number of 115. So it broke hit 115 and reversed. See my previous link post above for the only way I see to play those, you can not take a full bar loss if you think those are worth taking.

The last thing I will say is you are hugely over exposing yourself to the same type of move. If one of these works they all will, if one fails they all pretty much will. So be careful about correlation in this sense. If anything you pick the best one and ditch the rest, especially with all these so-so bars. Bars like usd/chf must be manage VERY tightly. Period. In my book.

Hope this helps!
Mike
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  • #64,120
  • May 18, 2010 12:17pm May 18, 2010 12:17pm
Quoting feri z kosic
It seems like momental lose of 766 pips!!! I set up buy or sell stops on pinbars at daily charts... Or wannabe pinbars... but I was really bloody surprised when I saw this development when I came from work... Can anybody explain, what went wrong till this time?? If anybody wants chart by chart, i will post it. Thanks guys...
By the way... I am studying this thread daily, I am on page 121 post 1804 now.... Thats great thread, thank you James!!!! god bless you and your family and of course all of you guys!!!
there was no problem inho, non of the pins were worth taking today as they were either incorrectly formed, no close within previous bar like the gb/us (pin LOOKING bars hanging in space like that take a lot of money of new traders)etc or they wernt strong enough to change the trend, i.e too small. if they were to be taken they needed to be monitored closely as they were all against the strong trends that we are seeing latley.again inho non of these bars warrented a full bar stop loss. The phrase man who picks bottom.....comes to mind...lol not intended at you personally bro, but these bars IF traded have be managed very tightly.
i added more to my running shorts today...gb/us @ 1.4426 and my eu/us at 1.2352. not trying to be cool jus showing how mich faith i personally had in those bars.

hope this helps put them in perspective

jon
PATIENCE... DISCIPLINE
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