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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

  • #64,421
  • May 20, 2010 10:57am May 20, 2010 10:57am
Quoting james16
The chatroom on the guest side of the site will be up and running soon. It wont be open 24/7 but will be used to meet for guest webinars and normal chat sessions. My hope is you old timers will make use of it.

I have recently purchased the omnovia software for voip/white board/screen sharing/chatroom.

It is super simple.

You old timers can use it anytime you want.

I will be posting more about it soon.

Jim
Now that sounds like a good idea sir!!
i will certainly be there for that! old timer or not...lol

thanx bigun

jon
PATIENCE... DISCIPLINE
  • #64,422
  • May 20, 2010 11:18am May 20, 2010 11:18am
Been watching this daily pin a few days ago followed by a double pin (bars) on EUR/USD

What do you think?
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  • #64,423
  • May 20, 2010 11:32am May 20, 2010 11:32am
Quoting fxprocessor
GBPJPY daily pin has formed at the 1.30 VBRN. The pin is not huge but I quite like the double bottom,

A head and shoulders has also just broken to the upside and I have taken this early entry with stop below the right shoulder.

As I am posting this price had dropped 20 pips or so but I think there is a very good chance there could be a break of the pin and a decent little run up from here. If not.... I lose this time and wait for the next trade

cheers

fxp
Well that didn't quite go to plan

I have actually been reasonably successfull recently so typical that a trade I post on the thread goes t**s up. Anyway back to waiting mode as Bundy would say
  • #64,424
  • May 20, 2010 12:00pm May 20, 2010 12:00pm
Quoting extraneo
Have you seen Buob on eur / usd?
the pattern is still valid?
ok ... is the market that he said
Jim's method is ok!
  • #64,425
  • May 20, 2010 1:13pm May 20, 2010 1:13pm
This looks tempting were it not for that FTA low. Nice way to get into the trend...

-- Danny
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  • #64,426
  • May 20, 2010 1:17pm May 20, 2010 1:17pm
Double pin close above 1.65 long for scalp in trafffic

Look where price went
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  • #64,427
  • May 20, 2010 1:29pm May 20, 2010 1:29pm
Oh what will today's more than likely Pin bar do? Decent risk vs. reward if we can climb a bit higher after the close and get in on a good short with a fairly tight stop above 85.

The pair is showing resistance at the Weekly M4 Pivot Point.
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Live to trade another day...
  • #64,428
  • May 20, 2010 2:43pm May 20, 2010 2:43pm
Quoting fxprocessor
Well that didn't quite go to plan

I have actually been reasonably successfull recently so typical that a trade I post on the thread goes t**s up. Anyway back to waiting mode as Bundy would say
At least you post your trades here.... most don't, for obvious reasons
Many choose unhappiness over uncertainty.
  • #64,429
  • May 20, 2010 2:51pm May 20, 2010 2:51pm
Quoting Dan Gilbert
At least you post your trades here.... most don't, for obvious reasons
I will try and post more mate
  • #64,430
  • May 20, 2010 2:54pm May 20, 2010 2:54pm
Quoting fxprocessor
I will try and post more mate
Make a journal where you post EVERY TRADE that you take, it will transform you as a trader.
Many choose unhappiness over uncertainty.
  • #64,431
  • May 20, 2010 2:56pm May 20, 2010 2:56pm
oh well, when can I perform following this mentality, it is an easy concept, but why I could not stick to this, there is something wrong in my mind

Quoting Dan Gilbert
I would never take it short.

and I think there's better opportunity in the current market condition than that I4B for a long position. If it breaks south first, then starts to head back up, I think I would CONSIDER buying it as it breaks the old high.

Just a trend-continuation method in the current market.

Newer traders need to understand that the whole market is inter-twined and right now with extreme volatility, and even stronger trends, PA might not be very reliable, but the GENERAL market condition is (especially on currencies)
  • #64,432
  • May 20, 2010 3:00pm May 20, 2010 3:00pm
Quoting jeurre
oh well, when can I perform following this mentality, it is an easy concept, but why I could not stick to this, there is something wrong in my mind
keep practicing. Honestly that's all you can do. you can sit here and read this stuff all day, but until you put a real effort into your very own methods, you won't accomplish much.

Make your own mistakes, write it down somewhere, fix it, move on.
Many choose unhappiness over uncertainty.
  • #64,433
  • May 20, 2010 3:17pm May 20, 2010 3:17pm
Nice looking with the trend pinbar, unfortunately it's going straight into a PPZ. That's a skip for me but for the ones who trade the break, move SL quickly to BE.
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  • #64,434
  • May 20, 2010 3:31pm May 20, 2010 3:31pm
GJ looking VERY ugly guys, over the last day it broke the last major support between it and 118.... eek.... Once it gets back to 130 (If it does)... the selling is ON!
Dr. C
  • #64,435
  • May 20, 2010 3:42pm May 20, 2010 3:42pm
Quoting artov
Nice looking with the trend pinbar, unfortunately it's going straight into a PPZ. That's a skip for me but for the ones who trade the break, move SL quickly to BE.
Good advice artov, I have made this mistake on numerous occasions!!
Trading into a ppz is tricky to say the least.
PA is where its at!!
  • #64,436
  • May 20, 2010 4:07pm May 20, 2010 4:07pm
Suffered the failed pin on USCHF this week.......does PA work when markets are very volatile?
PA is where its at!!
  • #64,437
  • May 20, 2010 4:12pm May 20, 2010 4:12pm
Quoting bertie123
Suffered the failed pin on USCHF this week.......does PA work when markets are very volatile?
Yes, I passed on this trade. It looked like a tiny pin v. a very strong up trend, and nothing to stop the momentum.

I don't think it was a bad trade. But even A++ trades fail time to time. And this was a B+ trade, at best, IMO.
  • #64,438
  • May 20, 2010 4:31pm May 20, 2010 4:31pm
Quoting cvcamper
GJ looking VERY ugly guys, over the last day it broke the last major support between it and 118.... eek.... Once it gets back to 130 (If it does)... the selling is ON!
I assume GJ is GBP/JPY
That being the case, price was at this level in Feb 2009.
There is support at this level around 127.
The lower wick from today touches that support line and price retraced from it.
If that were broken there is support at 125 and 120.
  • #64,439
  • May 20, 2010 4:36pm May 20, 2010 4:36pm
Hi, i spoted these IBrs, what do you think

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  • #64,440
  • May 20, 2010 4:38pm May 20, 2010 4:38pm
Quoting emiliolopez
Hi, i spoted these IBrs, what do you think

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tommorow is friday, I have too many trades going as it is right now lol. I will stay out.
Many choose unhappiness over uncertainty.
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