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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

  • #69,561
  • Jul 23, 2010 9:22am Jul 23, 2010 9:22am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting mbqb11
This one really went off like a rocket and I know you are either kicking yourself for not taking it, or very happy....
The higher they climb the harder they fall.
I have seen the enemy, and it is me.
  • #69,562
  • Jul 23, 2010 9:28am Jul 23, 2010 9:28am
Quoting Jonnyislost
GBP/CAD
2 Hour chart
Pin bar
1.6 BRN

Looks like friday is gonna be the most interesting day of this week
Worked out ok so far, target met
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  • #69,563
  • Jul 23, 2010 9:32am Jul 23, 2010 9:32am
PB trade mentioned earlier. Entered on 50% ret of PB and FTA reached
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  • #69,564
  • Jul 23, 2010 9:35am Jul 23, 2010 9:35am
2 days PB from a few days back. Had some drawdown of up to 65 pips. but i kept trade in play due to PB forming on the weekly. Took half of FTA and left half to see how it goes on the weekly PB.
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  • #69,565
  • Jul 23, 2010 9:44am Jul 23, 2010 9:44am
a simple buob. good for 100 pips so far.
maybe good for about 120 pips more....
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meine augen sind die sterne
  • #69,566
  • Jul 23, 2010 9:49am Jul 23, 2010 9:49am
another i4b....

this one was interesting to me.

The 3 day bearish pin coming off the 8500 had already caught my attention, and I've see IB's following pin bars often enough.

Last nights GDP numbers for sterling was enough for me to place my trade.

price narrowing in on the target right now. My only problem with this trade was the reward was a bit less than 1R, but my stop is moved down a bit now since I placed the trade.
Attached Image
Many choose unhappiness over uncertainty.
  • #69,567
  • Jul 23, 2010 9:55am Jul 23, 2010 9:55am
Quoting aserbfx
a simple buob. good for 100 pips so far.
maybe good for about 120 pips more....
got the same one same close
  • #69,568
  • Jul 23, 2010 10:04am Jul 23, 2010 10:04am
Dan,

Let's see some videos on these Inside bar trades. Would be awesome to hear about your success with them and how you play them in action. Great stuff.


Quoting Dan Gilbert
another i4b....

this one was interesting to me.

The 3 day bearish pin coming off the 8500 had already caught my attention, and I've see IB's following pin bars often enough.

Last nights GDP numbers for sterling was enough for me to place my trade.

price narrowing in on the target right now. My only problem with this trade was the reward was a bit less than 1R, but my stop is moved down a bit now since I placed the trade.
  • #69,569
  • Jul 23, 2010 10:05am Jul 23, 2010 10:05am
Quoting Jonnyislost
Worked out ok so far, target met
Caution, that is against a pretty strong up trend you are trading against (although its a big H4 pin), and its late on a Friday (bit like Halloween) and strange things can happen....
In retrospect we learn. In perspective we earn.
  • #69,570
  • Jul 23, 2010 10:17am Jul 23, 2010 10:17am
Quoting Dan Gilbert
another i4b....

this one was interesting to me.

The 3 day bearish pin coming off the 8500 had already caught my attention, and I've see IB's following pin bars often enough.

Last nights GDP numbers for sterling was enough for me to place my trade.

price narrowing in on the target right now. My only problem with this trade was the reward was a bit less than 1R, but my stop is moved down a bit now since I placed the trade.
Nice Dan Gilbert ! If price stays like that and with an earlier entry you might have been able to hold the BEOB which is forming on the Weekly also.
In retrospect we learn. In perspective we earn.
  • #69,571
  • Jul 23, 2010 10:17am Jul 23, 2010 10:17am
Quoting dmc
Dan,

Let's see some videos on these Inside bar trades. Would be awesome to hear about your success with them and how you play them in action. Great stuff.
they're very discretionary.

Those two I4b trades I took this week were my best performing trades.

overall for the week I'm up +0.8%, and I am up +1.5% on just those two inside bars . other trades chipped away at me a bit this week *cough* audusd short *cough*


The thing is, there has been some i4b's straddling VBRNs that I have refused to take, the one on USDCHF 5-20-2010 I completely disregarded. I like to have some kind of consolidation leading up to the i4b, or at least an additional confirmation of some sort.

It's a matter of working with them a bit and finding the right groove to trade them.
Many choose unhappiness over uncertainty.
  • #69,572
  • Jul 23, 2010 10:22am Jul 23, 2010 10:22am
Good job Dan,
just curious, how is this an I4B,
my understanding is that there are 3 previous bars larger than the inner bar.....i guess this is the case here, but i thought the bars should be going up, then short the inner bar that is bearish.



Quoting Dan Gilbert
another i4b....

this one was interesting to me.

The 3 day bearish pin coming off the 8500 had already caught my attention, and I've see IB's following pin bars often enough.

Last nights GDP numbers for sterling was enough for me to place my trade.

price narrowing in on the target right now. My only problem with this trade was the reward was a bit less than 1R, but my stop is moved down a bit now since I placed the trade.
  • #69,573
  • Edited 10:49am Jul 23, 2010 10:26am | Edited 10:49am
Quoting artieboy
Good job Dan,
just curious, how is this an I4B,
my understanding is that there are 3 previous bars larger than the inner bar.....i guess this is the case here, but i thought the bars should be going up, then short the inner bar that is bearish.
You are right artieboy.

An IxB, where x is the number of bars denotes decreasing bars inside each other and an Ix+B denotes increasing (engulfing) bars.

I think of the first as price is coiling or compressing the market (like squashing a spring) and the second as an unwinding or ramping up (pulling a spring apart). When you let go they can explode one way or the other.

Both are considered to be consolidating or trending sideways.
In retrospect we learn. In perspective we earn.
  • #69,574
  • Jul 23, 2010 10:27am Jul 23, 2010 10:27am
Quoting artieboy
Good job Dan,
just curious, how is this an I4B,
my understanding is that there are 3 previous bars larger than the inner bar.....i guess this is the case here, but i thought the bars should be going up, then short the inner bar that is bearish.
It doesn't matter to me what color the inner bar is... it can be green or red, as long as it's an I4B and I feel comfortable with where it's located, what it is following, etc etc....
Many choose unhappiness over uncertainty.
  • #69,575
  • Jul 23, 2010 10:45am Jul 23, 2010 10:45am
ok ghous...

gbpchf was the most explosive today .. well didnt expect it could go so far..
now, next week maybe small retracement.. to pursue heading north?!
  • #69,576
  • Jul 23, 2010 10:53am Jul 23, 2010 10:53am
Hi mate,

I took the same trade. But I closed half of it at 1,0080 then closed the rest of it after the bearish pinbar. I know it is discretionary but what made you hold on to the trade? Don't get me wrong, I am just trying to understand what I missed.

Best.

Quoting aserbfx
a simple buob. good for 100 pips so far.
maybe good for about 120 pips more....
  • #69,577
  • Jul 23, 2010 11:00am Jul 23, 2010 11:00am
Quoting PrincoPrinco
Don't get me wrong, I am just trying to understand what I missed.
i don't get you wrong. forexfactory is a forum where traders are helping traders. we are all here to learn.

Quoting PrincoPrinco
I know it is discretionary but what made you hold on to the trade?
well, i took the first half at the fta (didn't marked that on the chart, but it's at the high of the three bars at around 1.014.

the upmove was quite strong. so my stop is now at breakeven and maybe the other tp at 1.0270 will be triggered. or the SL, who knows?
meine augen sind die sterne
  • #69,578
  • Jul 23, 2010 11:00am Jul 23, 2010 11:00am
I took too many of them since last week. experienced good profit into drawdown, then, added more to wait this moment.

GU is good too, unfortunately GJ stoploss taken with 95pip profit

I think more will come next week

jeurre


Quoting mbqb11
This one really went off like a rocket and I know you are either kicking yourself for not taking it, or very happy. I am glad if you did catch that move but I want to show you a few things cause it is very important. First here is my same chart yesterday but on the 1hr with our marked FTA we discussed. . Obviously if you are very conservative you are getting stopped out at b/e and if you are more of a trailing type person like myself you probably caught this.

But this is the other post I want to reference b/c this is exactly what this bar taking...
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  • #69,579
  • Jul 23, 2010 11:09am Jul 23, 2010 11:09am
your method rocks ,keep up with more trendlines,please
we had not enough exploration on the power of trendline,it has a lot significance on its mission , i think . so, i am very glad to see people drawing them in a smart manner

jeurre

Quoting fx_heaven
Hi jeurre,

Its just another confluence factor really. As this was a pretty obvious TL running for 4 months with multiple contact points and it aligned nicely with the PPZ, the RN and the 50% FIB it gave me extra confidence about the strength of that area to hold price for the swing.

Once price moved beyond that pin then the second part of the trade would have been exited, for now I am still holding.

I use sloping Trend Lines as another factor combined with others to asses an area, never just by itself. Once they have been used (in this case...
  • #69,580
  • Jul 23, 2010 11:11am Jul 23, 2010 11:11am
Thanks mate,

I just analyzed it differently than.

Good pips.

Quoting aserbfx
i don't get you wrong. forexfactory is a forum where traders are helping traders. we are all here to learn.



well, i took the first half at the fta (didn't marked that on the chart, but it's at the high of the three bars at around 1.014.

the upmove was quite strong. so my stop is now at breakeven and maybe the other tp at 1.0270 will be triggered. or the SL, who knows?
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