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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

  • #73,041
  • Aug 27, 2010 9:55am Aug 27, 2010 9:55am
Quoting Chelski
Sadly the trade is now moving the way you called it http://cdn.forexfactory.com/images/icons/icon8.gif
So I was right afterall, LOL, @#!!*&http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #73,042
  • Aug 27, 2010 9:59am Aug 27, 2010 9:59am
This is amazing human nature. When someone else has a stop you feel better... but when you have a stop - someone else feels better...

  • #73,043
  • Aug 27, 2010 10:04am Aug 27, 2010 10:04am
Quoting Adilius07
This is amazing human nature. When someone else has a stop you feel better... but when you have a stop - someone else feels better...
I like what I've just said. Sounds smart
  • #73,044
  • Aug 27, 2010 10:18am Aug 27, 2010 10:18am
Quoting Chelski
"the market can be wrong longer than you can be solvent"
Remember, the market is never wrong only the trader can be wrong the market is just the market!
  • #73,045
  • Edited 10:23am Aug 27, 2010 10:22am | Edited 10:23am
Quoting aserbfx
eur/chf h4.
dblhc.
i ilke the fact that it tested the 1.300 a second time.
stop below the bar (1.2988), tp 1.3135
stops adjusted: stops at be. half position closed; other half tp at 1.3340.
meine augen sind die sterne
  • #73,046
  • Aug 27, 2010 11:05am Aug 27, 2010 11:05am
Quoting mbqb11
Hey Pip

I actually am long as a pure breakout play of multi bar highs. Like you and many others I feel this was the proper range to do it. Unfortunately as of right now I picked the top

I am hoping 1.75 holds and we continue higher. My original stop was under 1.73 so I have eliminated about half my risk.

We shall see! August has been flippy floppy so it is up to the market now

Best
Mike
UPDATED chart stop hit for a 1/2 bar loss,
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  • #73,047
  • Aug 27, 2010 11:06am Aug 27, 2010 11:06am
Quoting mbqb11
Agreed Danny, there was some strong reversal towards end of day, but I am not all to convinced about much....
UPDATED chart closed this one too
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  • #73,048
  • Aug 27, 2010 11:18am Aug 27, 2010 11:18am
Quoting jarroo
Hey Rac-man!!

. . . . . .I like the 1.6570 . .consolidation continues . . if we can show some supportive strength above the 1.5800 or 1.6000 . . I like its odds.

But it more Resistance grows from the recent reaction at the 1.6000 . . . as your chart shows . . look out below.


Good to see you Rac,


Jim
Jim, my friend.
Is this lousy eur/chf tipping you off on g/chf....or ...
I wrote in details about it 12hrs ago...

Love it when plans work out...

TC
r
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  • #73,049
  • Aug 27, 2010 11:37am Aug 27, 2010 11:37am
Quoting mbqb11
UPDATED chart stop hit for a 1/2 bar loss,
I don't trade GBPAUD, but nice I4B straddling the 1.75
Many choose unhappiness over uncertainty.
  • #73,050
  • Aug 27, 2010 11:54am Aug 27, 2010 11:54am
Hey guys, been really busy lately so I've not posted much but I've done my best to keep up with the posts(which is sometimes a job in itself!)

I only took 4 trades in August, you would think they would be the best 4...but they weren't. I'd like to post them up though for some feedback so that hopefully september becomes my third profitable month in a row(yes thanks to the thread and the feedback I've finally started to make profits! )

1) GBP/CHF was a short on the break of the pinbar. It closed just above 1.65 and the pin wasn't big but I think it was a worthwhile trade(stopped out at BE)

2) GBP/USD was a long off the 2 bar pinbar. In hindsight there was no confluence and the FTA(bar lows to the left) was too close so I was lucky to get out at BE

3) GBP/USD was a long off the break of the BUOB. I had been watching GU all week expecting a move up and as soon as I seen that, I jumped on, completely ignoring the PPZ directly above it. Poor trade and I took a 2% loss

4) CHF/JPY was a long off the pinbar. I think it was a pretty good setup and I would still be in it, but I moved my stop to 82.245 and that last big green bar took me out before heading back up.

As always, any constructive criticism is very much appreciated
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  • #73,051
  • Aug 27, 2010 11:55am Aug 27, 2010 11:55am
Quoting Dan Gilbert
I don't trade GBPAUD, but nice I4B straddling the 1.75
sure was Dan, I need to get in on these I4b, you know how much I love the BRNs what's wrong with me
  • #73,052
  • Aug 27, 2010 11:58am Aug 27, 2010 11:58am
Quoting Rustam
Hey guys, been really busy lately so I've not posted much but I've done my best to keep up with the posts(which is sometimes a job in itself!)

I only took 4 trades in August, you would think they would be the best 4...but they weren't. I'd like to post them up though for some feedback so that hopefully september becomes my third profitable month in a row(yes thanks to the thread and the feedback I've finally started to make profits! )

1) GBP/CHF was a short on the break of the pinbar. It closed just above 1.65 and the pin wasn't big but I think...
Firstly congrats so far , that is awesome Rus

I think you need a real good follow up of your trades that I don't have a whole lot to add. I think the gbp/chf closing under the RN is very important in my trading. But B/E I assume you were thinking similar and was tryign to see if you could catch one. A bunch of people got caught on that gbp/usd I got caught in one on the gbp/cad then very soon after I caught the real move up. Happens sometimes. #2 I kind of stick with #1 but you played them both the way they should(tight). #4 clearly the best of em all

Keep it up Rustam and keep us updated on your progress which is great so far
Mike
  • #73,053
  • Aug 27, 2010 12:42pm Aug 27, 2010 12:42pm
Quoting mbqb11
sure was Dan, I need to get in on these I4b, you know how much I love the BRNs what's wrong with me
Funny thing is, there have been a few this past month that I haven't touched because they didn't look flawless, but all of them have worked lol....

someday I will be a wizard!
Many choose unhappiness over uncertainty.
  • #73,054
  • Aug 27, 2010 12:50pm Aug 27, 2010 12:50pm
Quoting Dan Gilbert
Funny thing is, there have been a few this past month that I haven't touched because they didn't look flawless, but all of them have worked lol....

someday I will be a wizard!
You probably are one Dan

That I4B potion with "Dan prescriptions" sure looks a solid magical drink

g.
I believe . . .
  • #73,055
  • Aug 27, 2010 1:04pm Aug 27, 2010 1:04pm
Quoting ghous
You probably are one Dan

That I4B potion with "Dan prescriptions" sure looks a solid magical drink

g.
not a wizard, just an addict
Many choose unhappiness over uncertainty.
  • #73,056
  • Aug 27, 2010 2:27pm Aug 27, 2010 2:27pm
Quoting aserbfx
fgbl has reached an ath.
couldn't make it to the 135.
(with rising stocks we will probably see a retrace...)
the low of the pinbar broke today.
went along with a beob.
will fall to 130 points.
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meine augen sind die sterne
  • #73,057
  • Aug 27, 2010 2:40pm Aug 27, 2010 2:40pm
Quoting xmzhang
Just entered long on a livetrade of the Ozzie on the 15m-TF. Although the 1H-BEOB has not been breached, I quess the 8900 will hold as support and I try to pre-empt the break.
This afternoon I took a live trade on the Ozzie, I wanted to trade a 1H-BEOB. As you all have seen I forgot all about the speech of big mouth Bernankee and his speech screw up my trade. If it hadn't been for big mouth my live trade would have been a 80+ pip profit trade.

But I still want to analyse my trade setup with the senior members and want their opinion if this setup would still have been worthwile without the speech. It's all about the 1H-BEOB, which closed above the 8900. I planned to take a touchtrade of this RNB 8900 when price was pulling back to the 8900, I expected this strong level, previous resistance, to hold as support now. My order got filled just below at 8895, my SL was quite tight at 8885. By this time price had not yet breached the high of the BEOB, so in fact I tried to pre-empt the break of the BEOB. After my entry price generated a 1H rejection bar of the 8900, so I was now more confident that this trade might work out good for me. I consider this trade as a daytrade and in that case I like to use the floorpivot points as targets. But as you all know (I knew it too but forgot about it) Big Mouth Bernankee held a speech which was in favour of the greenback and screwed up my trade. After the market had digested his speech, price proceeded its previous upwards movement. Price rocket in a straight move towards pivot R2 to the pip, another straight move to pivot R3 also to the pip and is currently moving around R3. In hindsight if I had waited for the break of the BEOB, this would have been a smashhit daytrade worth of 80+ pips ! I would like to invite the senior menbers to give me some feedback about my argumentation concerning this trade, Mike, Jarroo maybe ?

May the force be with you.
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Pipcrawler
  • #73,058
  • Aug 27, 2010 3:26pm Aug 27, 2010 3:26pm
I have been having this Range on for sometime.....it has been kind to me except when i thought it had broken to the upside on 25-Aug....interesting we now at the range bottom.............lets see what Monday gives us............cheer all and nice week.

Quoting Dan Gilbert
I don't trade GBPAUD, but nice I4B straddling the 1.75
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  • #73,059
  • Aug 27, 2010 3:32pm Aug 27, 2010 3:32pm
Quoting xmzhang
This afternoon I took a live trade on the Ozzie, I wanted to trade a 1H-BEOB. As you all have seen I forgot all about the speech of big mouth Bernankee and his speech screw up my trade. If it hadn't been for big mouth my live trade would have been a 80+ pip profit trade.

But I still want to analyse my trade setup with the senior members and want their opinion if this setup would still have been worthwile without the speech. It's all about the 1H-BEOB, which closed above the 8900. I planned to take a touchtrade of this RNB 8900 when price was pulling...
you mean the 1hr BUOB I assume not beob?

Yes that was a nice one of a breakout + a huge range engulfing

I took the nzd/jpy but both were good plays
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  • #73,060
  • Aug 27, 2010 3:33pm Aug 27, 2010 3:33pm
excellent. dow tested the lows again, nearly to the point. came back and closed with a dblhc. this is a good setup, imho.
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meine augen sind die sterne
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