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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

  • #64,121
  • May 18, 2010 2:19pm May 18, 2010 2:19pm
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

EDIT: i see Mike has already given a proper answer...lol
PATIENCE... DISCIPLINE
  • #64,122
  • Edited 2:32pm May 18, 2010 2:21pm | Edited 2:32pm
Quoting Dan Gilbert
yes, but I understand the Japanese actually SAVE their money. A concept the USA is unaware of.
In fact, the saving cocept is applicable to most of the asian countries..
  • #64,123
  • May 18, 2010 2:22pm May 18, 2010 2:22pm
GBPUSD is to close daily with IB
what do you think?
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  • #64,124
  • May 18, 2010 2:24pm May 18, 2010 2:24pm
my comp. is going nuts lately!!!??!!!??
PATIENCE... DISCIPLINE
  • #64,125
  • May 18, 2010 2:29pm May 18, 2010 2:29pm
hey guys, can anyone help???
when i save a chart on my comp everything goes as normal but when i try to load it here it is always the old chart i tried to copy over???

cheers in advance

jon
PATIENCE... DISCIPLINE
  • #64,126
  • May 18, 2010 2:32pm May 18, 2010 2:32pm
Quoting g_j_hook@yah
hey guys, can anyone help???
when i save a chart on my comp everything goes as normal but when i try to load it here it is always the old chart i tried to copy over???

cheers in advance

jon
try to save again with a different file name
  • #64,127
  • May 18, 2010 2:33pm May 18, 2010 2:33pm
Quoting extraneo
GBPUSD is to close daily with IB
what do you think?
luckily for me...we dont need to think in this game...lol
we will soon know. i will maybe take a short break tomorrow if it does though..??there was a good looking double ib on gb/cad today(tried to post it ...damn comp.!! lol )but there wasnt any momentum when it broke so i killed it
wish i sold the retest of todays open . lol


jon
PATIENCE... DISCIPLINE
  • #64,128
  • May 18, 2010 2:36pm May 18, 2010 2:36pm
Quoting egkid
Hello All
I'm very interested to know ur view about u/cad ? , And maybe oil you know both related

Thanks
Check out this: http://www.forexfactory.com/showpost...ostcount=19682

Fundamentals: US troops prepare to invade Canada.
Gone to a better place
  • #64,129
  • May 18, 2010 2:38pm May 18, 2010 2:38pm
Quoting extraneo
try to save again with a different file name
lets try.. gb/cad from today...???

nope!! it just shows it saved when it saves it,then i got a msg saying the comp couldnt find it?? then when i try to post it its not there lol

cheers

food time ...sod it! lol

jon
PATIENCE... DISCIPLINE
  • #64,130
  • May 18, 2010 2:50pm May 18, 2010 2:50pm
Quoting g_j_hook@yah
lets try.. gb/cad from today...???

nope!! it just shows it saved when it saves it,then i got a msg saying the comp couldnt find it?? then when i try to post it its not there lol

cheers

food time ...sod it! lol

jon
here is gbpcad daily
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  • #64,131
  • May 18, 2010 3:08pm May 18, 2010 3:08pm
Quoting extraneo
GBPUSD is to close daily with IB
what do you think?

in relation to IB daily, it is my opinion that if violated to the downside, would lead us up to 1400;
However, the cross is in a hard point, and could also bounce from 14300

is not easy ...

chart monthly
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  • #64,132
  • May 18, 2010 3:38pm May 18, 2010 3:38pm
tested out my "reverse" fib plotting method.

plotted the fib when price was in the blue circle. and indeed price hit the top and reversed.
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  • #64,133
  • May 18, 2010 3:45pm May 18, 2010 3:45pm
gold will close current session and deliver its third pin of the latest move, looks promising to go long upon break of the pin, guys?

the question is ,how will it develop in the future : continue its uptrend, or consolidation. maybe , more of a consolidation?
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  • #64,134
  • May 18, 2010 3:51pm May 18, 2010 3:51pm
Quoting jeurre
gold will close current session and deliver its third pin of the latest move, looks promising to go long upon break of the pin, guys?

the question is ,how will it develop in the future : continue its uptrend, or consolidation. maybe , more of a consolidation?
gold will continue it's uptrend. europe joined the USA in printing money, gold has broken it's old record high, no resistance over head. I expect a sharp move up, similar to what was seen when it broke cleanly above the 1,000 level. Just my opinion
Many choose unhappiness over uncertainty.
  • #64,135
  • May 18, 2010 3:56pm May 18, 2010 3:56pm
I shorted both of below

USDMXN: Daily pin, large size
EURGBP : H4 pin, relatively not large enough

Both in downtrend
Both pin appeared at pullback in response to either ppz or gap

But, EURGBP won while USDMXN lost. I don't understand why

Fortunately, one win vs one loss brought me a slight drawdown only. but, the question of why still remains. are there any particular details I didn't see them?
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  • #64,136
  • May 18, 2010 4:04pm May 18, 2010 4:04pm
I am positive too, just don't sharp move so quick, could turn into exhaustion, if too a quick. but, I am excited to hear your vote, coz I have gold mine stock live acc



Quoting Dan Gilbert
gold will continue it's uptrend. europe joined the USA in printing money, gold has broken it's old record high, no resistance over head. I expect a sharp move up, similar to what was seen when it broke cleanly above the 1,000 level. Just my opinion
  • #64,137
  • May 18, 2010 4:16pm May 18, 2010 4:16pm
Quoting jeurre
I shorted both of below

USDMXN: Daily pin, large size
EURGBP : H4 pin, relatively not large enough

Both in downtrend
Both pin appeared at pullback in response to either ppz or gap

But, EURGBP won while USDMXN lost. I don't understand why

Fortunately, one win vs one loss brought me a slight drawdown only. but, the question of why still remains. are there any particular details I didn't see them?
Hey J

That pin is in a lot of traffic. Meaning it did not create a real solid swing point. Thus, we are trading right into a problem area. Hopefully my chart shows you exactly what that problem area was.

Hope that helps
Mike
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  • #64,138
  • May 18, 2010 4:23pm May 18, 2010 4:23pm
how did you know it so precisely, man ! I am speachless now



Quoting KissFan
Sorry for the delay in getting back with you Jim. I like the space (room to run) in between 10173 and 9779. I also believe that the low of 02.05.2010 will be revisited if we breach 10173 again. So maybe 10700-10800 then down from there to 9700-9800. I'll be buying greenbacks when we get back to 10173.

K.I.S.S.
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  • #64,139
  • May 18, 2010 4:28pm May 18, 2010 4:28pm
Quoting jeurre
how did you know it so precisely, man ! I am speachless now
Kissfan is a beast..... get used to it
Many choose unhappiness over uncertainty.
  • #64,140
  • May 18, 2010 4:31pm May 18, 2010 4:31pm
Okey, traffic and BRN here. thanks, Mike

Quoting mbqb11
Hey J

That pin is in a lot of traffic. Meaning it did not create a real solid swing point. Thus, we are trading right into a problem area. Hopefully my chart shows you exactly what that problem area was.

Hope that helps
Mike
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