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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

  • #79,801
  • Nov 11, 2010 3:41pm Nov 11, 2010 3:41pm
Quoting HanSolo
Hi Revstar, what exactly did you trade? I see no confirmed PA. Or was it a touch trade?

i think triple bottom touch trade,buying at the RN 1.3700
  • #79,802
  • Nov 11, 2010 3:52pm Nov 11, 2010 3:52pm
Your quite right Kayhan and Hansolo
Kayhan - 3rd bounce off that 13700 'area' or zone. i noticed a test of the 137 then it took off. in hindsight i should have moved to BE quick..
Hansolo- ur right, never awaited PA (probably why it burned!)
take it steady
RS

Quoting kayhan7070
i think triple bottom touch trade,buying at the RN 1.3700
  • #79,803
  • Nov 11, 2010 3:58pm Nov 11, 2010 3:58pm
I just went through my daily charts (right before the new bar starts), made a few notes of things to check tomorrow because nothing screamed TAKE ME today and then closed the platform and went back to work (which, right now, is actually making me money).

I figured that's like making 100 pips or something.

One day at a time people, one day at a time.....
  • #79,804
  • Nov 11, 2010 4:05pm Nov 11, 2010 4:05pm
hey revstar

the 1.3700 level is just a simple PPZ,there is no confluence and b/c of this IMO there was no reason to take a touch trade.
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  • #79,805
  • Nov 11, 2010 4:09pm Nov 11, 2010 4:09pm
Quoting Revstar
Your quite right Kayhan and Hansolo
Kayhan - 3rd bounce off that 13700 'area' or zone. i noticed a test of the 137 then it took off. in hindsight i should have moved to BE quick..
Hansolo- ur right, never awaited PA (probably why it burned!)
take it steady
RS
Hey Revstar i took the touch trade in euro dollar too.
My entry was at 1.3686.
I was at 35 pip profit and did not break even so i took a loss on that one.
Seemed a good support and it was but damn no break even took me.
Regards
Taz
  • #79,806
  • Nov 11, 2010 4:10pm Nov 11, 2010 4:10pm
Quoting kayhan7070
hey revstar

the 1.3700 level is just a simple PPZ,there is no confluence and b/c of this IMO there was no reason to take a touch trade.
There is a Monthly PPZ in whereabouts.
And there is a Fib confluence.
If you can't find it i will post a chart.
Regards
Taz
  • #79,807
  • Nov 11, 2010 4:12pm Nov 11, 2010 4:12pm
Noticed this. I think this is a good example of those "in the box" setups...
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  • #79,808
  • Nov 11, 2010 4:19pm Nov 11, 2010 4:19pm
Quoting 666Doom
There is a Monthly PPZ in whereabouts.
And there is a Fib confluence.
If you can't find it i will post a chart.
Regards
Taz
it doesn't matter if it is a monthly PPZ or a daily.

by the way i can't see the fib 50 confluence,pls send a chart

thanks
  • #79,809
  • Nov 11, 2010 4:38pm Nov 11, 2010 4:38pm
Quoting kayhan7070
it doesn't matter if it is a monthly PPZ or a daily.

by the way i can't see the fib 50 confluence,pls send a chart

thanks
Here you go brother.
Ask Jarroo sir if you want monthly high/lows are important, damn important.
If anything unclear ask i will post again.
Charts:

http://img703.imageshack.us/img703/4208/eurodollar.gif
http://img192.imageshack.us/img192/4208/eurodollar.gif
http://img87.imageshack.us/img87/4208/eurodollar.gif

Hope this helps.
Regards
Taz
  • #79,810
  • Nov 11, 2010 4:50pm Nov 11, 2010 4:50pm
Quoting kayhan7070
it doesn't matter if it is a monthly PPZ or a daily.

by the way i can't see the fib 50 confluence,pls send a chart

thanks
S/R lines.
Take a look.
That sentence (it doesn't matter was a shock to me).
Regards
Taz

http://img337.imageshack.us/img337/9433/53659678.gif
  • #79,811
  • Nov 11, 2010 5:12pm Nov 11, 2010 5:12pm
http://i7.photobucket.com/albums/y28...g/nzyjames.jpg

Range set up on the nzd/jpy sell stop at 64 TP at 63 Stop at top of PB. Set to closev80% at 50 pips and let the rest ride to TP or BE+2.

Would this be considered an inside Pin bar? Not sure I got the meaning clear.
  • #79,812
  • Nov 11, 2010 5:30pm Nov 11, 2010 5:30pm
Can't seem to get into a decent trade. Saw two pins yesterday on EUR/USD and USD/CHF, placed orders but thankfully they never got hit as price went off the other way.

I guess the weekly pin was too strong for the bulls to take over on the EU trade, although im not sure about the UC one. I tried to go with the direction of the trend, and saw these as minor pullbacks.

Am i missing something major here.... or is it just simply how forex is? lol
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  • #79,813
  • Nov 11, 2010 7:13pm Nov 11, 2010 7:13pm
Quoting Adilius07
Is that a new video in a guest section?

Sorry, must have missed this.

No, that mini dow video is in the PF section.
  • #79,814
  • Nov 11, 2010 7:17pm Nov 11, 2010 7:17pm
Uj H4 may be interesting when it gets to the 365.
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  • #79,815
  • Nov 11, 2010 7:47pm Nov 11, 2010 7:47pm
Quoting Osman
Hi Ghous,

Did you took the entry based on the weekly, i mean you saw the setup on a monday and you put the orders or a daily candle triggered the entry ?

Thx
I don't fine tune entries on lower time frames. I keep it simple and straightforward. I placed my pending orders Monday open, on the weekly tf.

g.
I believe . . .
  • #79,816
  • Nov 11, 2010 8:12pm Nov 11, 2010 8:12pm
Quoting dcart
Can't seem to get into a decent trade. Saw two pins yesterday on EUR/USD and USD/CHF, placed orders but thankfully they never got hit as price went off the other way.

I guess the weekly pin was too strong for the bulls to take over on the EU trade, although im not sure about the UC one. I tried to go with the direction of the trend, and saw these as minor pullbacks.

Am i missing something major here.... or is it just simply how forex is? lol
Hey Dcart

The biggest issue I have is going back to what I was saying to carneige

In the case of the euro coming off a few very bearish days you had a very small reaction at a former support area giving a very small pin. Now it could have still well broke and probably would still make the FTA(marked). But still does this bar scream buy? Look for the pitbull bars they will save you much headaches.

As for usd/chf this doesn't qualify as a pin as technically price didn't close within the previous bar. But even still if it just did that signifies weakness. There is no strong authority on top of that. Remember the bar itself is just such a tiny part of what we need to do to formulate a successful trade plan.

If you are struggling stick to the big obvious bars and it will give you much more confidence in your entries

Best
Mike
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  • #79,817
  • Nov 11, 2010 8:41pm Nov 11, 2010 8:41pm
AUD/CAD nice wedge on the daily & BRN.

Parity actually....Thanks Mike.
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  • #79,818
  • Nov 11, 2010 10:40pm Nov 11, 2010 10:40pm
Quoting ertorque
How about a potential long trade here? TL, 50% retracement and VBRN as confluence.
Kaboom or not?
Hey ertorque.

Well . .not a big Kaboom but a bit of a bounce . . enough to cover a tight stop loss risk.

I think Mike is on to something with these BRNs . . . . . .especailly parity.

I do believe that BRNs gain strength when they are confluenced.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #79,819
  • Nov 11, 2010 10:47pm Nov 11, 2010 10:47pm
Yes, Jarroo..Mike taught me what parity was last week.

Just couldn't get my mind around it because, I could never see the US $ worth 1 Japanese Yen. Haaaaaaaaa
  • #79,820
  • Nov 11, 2010 10:51pm Nov 11, 2010 10:51pm
Quoting Pinbar
Yes, Jarroo..Mike taught me what parity was last week.

Just couldn't get my mind around it because, I could never see the US $ worth 1 Japanese Yen. Haaaaaaaaa

lol funny one Pb.
Indicators show the past. Price Action "Indicates" the future.
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