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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

  • #76,921
  • Oct 8, 2010 8:25am Oct 8, 2010 8:25am
Quoting jarroo
Wait a minute . .that is weird . .it showed up on the 15 but not the 4 hour . . .bad feed in my book. . .but it did form after the 4 Hour PB.
Jarroo my friend, the 15m-PB closes exactly at the same time as the 4H-PB namely @ 16:00 (GMT+1). In this very very special case we see the lower TF PB closing at exactly the same time as the higher TF PB and this lower TF PB is at the same time the one bar pullback to the 4H-PPZ will is also confirmed at 16:00. So the setup and the entry take place at exactly the same moment. Normally the pullback takes a couple of lower TF bars after the higher TF price pattern has closed, so did I take a nice trade-example or not, Jarroo. This should be a nice learning example for the Newbies to see if they really understand James PA.http://cdn.forexfactory.com/images/icons/icon10.gif

May the force be with you.
Pipcrawler
  • #76,922
  • Oct 8, 2010 8:38am Oct 8, 2010 8:38am
Hope someone can help, I read a post yesterday I think that was recommended for newbies and it said specifically take note of posts 18 to 33
Well I can not find it anywhere after an electric cut switched the comp off.
Any body able to direct me to the post please
  • #76,923
  • Oct 8, 2010 8:39am Oct 8, 2010 8:39am
Quoting grahamec
Hope someone can help, I read a post yesterday I think that was recommended for newbies and it said specifically take note of posts 18 to 33
Well I can not find it anywhere after an electric cut switched the comp off.
Any body able to direct me to the post please
here you go bud

http://www.forexfactory.com/showpost...ostcount=76632
  • #76,924
  • Oct 8, 2010 8:39am Oct 8, 2010 8:39am
Quoting ertorque
Yes that is what I understand from your charts too. Nothing's wrong just that normally the search for a retrace is usually after the 'main' bar closes. In this case, it is special. Thanks for the feedback tho.
You're welcome ER, yes this one was special, as I said before usually the pullback consists of several lower TF bars after the higher TF PA has closed. But nonetheless a very keen observation of you http://cdn.forexfactory.com/images/icons/icon14.gif

May the force be with you.
Pipcrawler
  • #76,925
  • Oct 8, 2010 8:45am Oct 8, 2010 8:45am
Quoting mbqb11
here you go bud

http://www.forexfactory.com/showpost...ostcount=76632
Mike and SupremeChaos thank you both very much

SC, I will
  • #76,926
  • Oct 8, 2010 8:47am Oct 8, 2010 8:47am
I took this large DBHLC on the NZD USD yesterday off of the BRN .85.

I set a straight TP at .7430 which looks to have been hit but didnt trigger because of spread (I am guessing)

I really dont think I should hold on to this trade because of the trend and that level of support below that I just bounced off of.

I am going to wait to see how the 4hr closes to manage stops accordingly. If it closes above.75 I will look to get out or move stops tight. If it closes below I will simply move stops lower.

I am just curious to see what some of you guys dow in sitations where you just miss gettign out.

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  • #76,927
  • Oct 8, 2010 8:48am Oct 8, 2010 8:48am
Quoting dmc

I am just curious to see what some of you guys dow in sitations where you just miss gettign out.

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If it hits my take profit area, but comes back for spread or whatever reason, I am out at b/e. Since technically the trade played out just as you saw it(of course that isn't a recommendation for your trade). But I have dealt with that situation , still do
  • #76,928
  • Oct 8, 2010 8:51am Oct 8, 2010 8:51am
Thanks Mike, makes sense.

And if it closes above .75 might be an opportunity to long. :-)

Quoting mbqb11
If it hits my take profit area, but comes back for spread or whatever reason, I am out at b/e. Since technically the trade played out just as you saw it(of course that isn't a recommendation for your trade). But I have dealt with that situation , still do
  • #76,929
  • Oct 8, 2010 9:02am Oct 8, 2010 9:02am
Quoting jarroo
I guess we look at it differently...
Yes I think you're description would be a more appropiate one. The problem with me is, I like these PPZ's to be exactly one clear line without this uncertainty zone around it. Due to my occupation I like to be exact, there is no or very little room for uncertainty. But I quess the forex market system isn't the same as a electronic control system, lol. Thanx again for your clarification, Jarroo, i've just added somewhat more information to my datasystem.

May the force be with you.
Pipcrawler
  • #76,930
  • Oct 8, 2010 9:03am Oct 8, 2010 9:03am
Not a PB probably...but Fib confluence and attraction to BRN 1.0000

Entered on the break of the bar with stop below, target .99999 but probably will scale out.
What do you think guys?

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Anything can happen - You never know
  • #76,931
  • Oct 8, 2010 10:03am Oct 8, 2010 10:03am
Hey Mike,
I saw a great Pinbar on Aud/Cad.
So what do you say bout this.
Would you call this Pitbull pinbar,if yes i believe my stars are bright,cauz i just learned what a good bull pin bar is.lol
Need your opinion.
Regards
Taz

http://img97.imageshack.us/img97/2578/pbbull.gif
  • #76,932
  • Oct 8, 2010 10:10am Oct 8, 2010 10:10am
Quoting 666Doom
Hey Mike,
I saw a great Pinbar on Aud/Cad.
So what do you say bout this.
Would you call this Pitbull pinbar,if yes i believe my stars are bright,cauz i just learned what a good bull pin bar is.lol
Need your opinion.
Regards
Taz
Hey Taz

My issue with that bar is the tail i would want longer. Notice the body of the bar(open to the close) is about the same size. But you are getting there. Your target is PERFECT though

Best
Mike
  • #76,933
  • Oct 8, 2010 10:19am Oct 8, 2010 10:19am
Quoting kwikwis
Not a PB probably.....
Entered on the break of the bar with stop below......
definitely NOT a PB.

my comment would focus on the trade setup & not the outcome (whether this turns into a profit or loss):
u traded a doji with a long upper wick. the upper wick is right at a minor PPZ/possible trouble area (based on your chart). your entry was right at/into a PPZ.
to be safe, we should trade away, not into or at a PPZ.
Please review James16's This is critical
"...WE MUST LEARN TO:
1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.
..."
im pointing this out so that u'd be aware ofthe consequence &/or avoid taking such setups.

Quoting 666Doom
...
I saw a great Pinbar on Aud/Cad....
not a pitbull pinbar.
check out james16, mbqb11, jarroo's charts to compare.


Be careful guys.
  • #76,934
  • Oct 8, 2010 10:20am Oct 8, 2010 10:20am
Hi
I havenīt taken this Thread because i was at school at this time. But look how it worked out well. The entry is like jarroo style retrace to the previous low an then short.

I donīt know if i would let the trade run so long because my problem is if i am in profit i have fear to loss the profit and so i cut the profit and see after 2 hours or so how it would go further in my direction

john225 ;-)
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  • #76,935
  • Oct 8, 2010 10:22am Oct 8, 2010 10:22am
Quoting mbqb11
I closed for a small loss prior to NFP, hope you are being careful here.
Your silver chart ! Where the swing took place on hour chart is the bottom of the price channell. I feel that this market is saying to me I had enough extremism for a while and I am due for a reversal. That s how I read yesterdays price action . Thats why I say risk reward ratio point of view it is better to see price coming out of the channel to find the right location and ppz for trade opportunity ? What you reckon ?

Cheers

V
  • #76,936
  • Oct 8, 2010 10:25am Oct 8, 2010 10:25am
Quoting menomoo
Your silver chart ! Where the swing took place on hour chart is the bottom of the price channell. I feel that this market is saying to me I had enough extremism for a while and I am due for a reversal. That s how I read yesterdays price action . Thats why I say risk reward ratio point of view it is better to see price coming out of the channel to find the right location and ppz for trade opportunity ? What you reckon ?

Cheers

V
Hey V

Sorry i am not sure what you are asking? I closed out basically at b/e b/c the break was not a hard one like I was hoping for and with NFP coming out I wasn't going to fight it.

Sorry if I missed your question
Mike
  • #76,937
  • Oct 8, 2010 10:51am Oct 8, 2010 10:51am
Quoting james16
i see you down there tia
Stil reading every word you write Jim. The new video series on the PF is pretty good too
  • #76,938
  • Oct 8, 2010 11:24am Oct 8, 2010 11:24am
Hey Aaron

Wondered where you'd got to!! Must give you a call

Steve
Quoting TiaForex
Stil reading every word you write Jim. The new video series on the PF is pretty good too
  • #76,939
  • Oct 8, 2010 11:25am Oct 8, 2010 11:25am
Quoting supremeChaos
definitely NOT a PB.

my comment would focus on the trade setup & not the outcome (whether this turns into a profit or loss):
u traded a doji with a long upper wick. the upper wick is right at a minor PPZ/possible trouble area (based on your chart). your entry was right at/into a PPZ.
to be safe, we should trade away, not into or at a PPZ.
Please review James16's This is critical
"...WE MUST LEARN TO:
1. [b]notice a strong s/r area just beyond our pa...
Thank you!

I like that post, I will put it on my checklist before i enter the trade

Banked 1/2 position +40 and moved stop to BE
Anything can happen - You never know
  • #76,940
  • Oct 8, 2010 11:39am Oct 8, 2010 11:39am
Quoting steviet
Hey Aaron

Wondered where you'd got to!! Must give you a call

Steve
Steve my man! Was thinking of you this week. I bet this has been a very VERY satisfying month for your method. I'm away this weekend but let's have a chat next week. Always good to see you here my friend.
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