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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

  • #80,361
  • Nov 18, 2010 9:36am Nov 18, 2010 9:36am
Quoting bluetrader
Took the retrace of this BUOB...
T1 hit. 2nd half is at BE.

Will trail the remaining lots out until T2. I'm looking for price to close strongly above 1.3500. It should then act as support.

-- Danny
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  • #80,362
  • Nov 18, 2010 9:36am Nov 18, 2010 9:36am
Quoting Jonnyislost
And another one on the YM at 11000


Gotta find time for these
  • #80,363
  • Nov 18, 2010 9:44am Nov 18, 2010 9:44am
Quoting nuclear62
It broke but this is a good example why itīs so hard to be picky imo.. This had a risk, not worth taking. But then itīs works and it can make you think that youīre too picky etc. But this is a maraton like we know.. Hope my trading maraton ends a bit better than my maraton last summer!

Hope you have a good day
Hey Nuc

I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.

I think that is a recipe for a successful trade

This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.

Thanks for sharing
Mike
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  • #80,364
  • Nov 18, 2010 9:46am Nov 18, 2010 9:46am
Quoting Jonnyislost


Waiting for a gift
I believe your present is on the way to you, it will take another 15 minutes before it arrives to you .....
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Pipcrawler
  • #80,365
  • Nov 18, 2010 9:51am Nov 18, 2010 9:51am
Quoting mbqb11
Hey Dave

It's a decent pinbar at a swing high, not much in way of confluence. As for FTAs we really want to pick the very first areas so I would go with 1240 as the very first with the bar high(especially coming into a strong trend), with the more logical BRN of 1200 being the more obvious area(or at least pretty logical to me)

Very nice Dave
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  • #80,366
  • Nov 18, 2010 9:54am Nov 18, 2010 9:54am
Quoting mbqb11
Hey Nuc

I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.

I think that is a recipe for a successful trade

This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.

Thanks for sharing
Mike
Very very good learning example, will store this in my database
Pipcrawler
  • #80,367
  • Nov 18, 2010 10:16am Nov 18, 2010 10:16am
Quoting xmzhang
I believe your present is on the way to you, it will take another 15 minutes before it arrives to you .....

I'm afraid I will have to reject that gift. Pinbar is just too small for me to trade, despite the great location. Although it seems like there is a clear shot to 1.5960... if it were to break..
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  • #80,368
  • Nov 18, 2010 10:19am Nov 18, 2010 10:19am
Quoting mbqb11
Hey Nuc

I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.

I think that is a recipe for a successful trade

This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.

Thanks for sharing
Mike
just be carefull with the 30 usd. take first profit there.
meine augen sind die sterne
  • #80,369
  • Nov 18, 2010 10:25am Nov 18, 2010 10:25am
Quoting bluetrader
T1 hit. 2nd half is at BE.

Will trail the remaining lots out until T2. I'm looking for price to close strongly above 1.3500. It should then act as support.

-- Danny
Hi Bluetrader
Hope you do not mind the question, at or where did you enter the trade.
Thanks
Grahame
  • #80,370
  • Nov 18, 2010 10:30am Nov 18, 2010 10:30am
Quoting grahamec
Hi Bluetrader
Hope you do not mind the question, at or where did you enter the trade.
Thanks
Grahame
Hey Grahame, how's it going.

I entered on Monday after price retraced the BUOB to a PPZ I highlighted. See this post:
Quoting bluetrader
Took the retrace of this BUOB...
Hope this makes sense.

-- Danny
  • #80,371
  • Nov 18, 2010 10:36am Nov 18, 2010 10:36am
Quoting bluetrader
Hey Grahame, how's it going.

I entered on Monday after price retraced the BUOB to a PPZ I highlighted. See this post:

Hope this makes sense.

-- Danny
Thanks for your answer Danny, is the PPZ you highlighted the green dashed line ?
  • #80,372
  • Nov 18, 2010 10:39am Nov 18, 2010 10:39am
Quoting grahamec
Thanks for your answer Danny, is the PPZ you highlighted the green dashed line ?
I think I see its the solid line, thanks for your help, seems like a very nice trade
Cheers
Grahame
  • #80,373
  • Nov 18, 2010 11:13am Nov 18, 2010 11:13am
Price found support on last year's high price, printed a mediocre pin, but I decided to place my initial stop near the open of the signal price action bar, and bought before the break of the signal bar.

Moved stop to B/E before I went to bed, and took full profit @ 0.77782 monthly PPZ back in '07/'08.

A good 1:2 RISK:REWARD trade put a bit more than 2% in my live account, and put me back in the green for November.

Looking forward to taking December off completely
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Many choose unhappiness over uncertainty.
  • #80,374
  • Nov 18, 2010 12:11pm Nov 18, 2010 12:11pm
Quoting squeezy
s/r rules
its all chart time, before u know it ull be seeing things really clearly
hardwork pays

Just want to say thanks squeeze----I always enjoy the simplicity of your charts -----please keep em' charts coming!
  • #80,375
  • Nov 18, 2010 12:22pm Nov 18, 2010 12:22pm
Quoting bluetrader
Hey Grahame, how's it going.

I entered on Monday after price retraced the BUOB to a PPZ I highlighted. See this post:

Hope this makes sense.

-- Danny
Hey Blue,

Very nice trade, just wanted to ask.. why did you choose EUR/CHF instead of EUR/AUD or EUR/CAD which both had BEOB ?

Thx
Trade Smart
  • #80,376
  • Nov 18, 2010 12:38pm Nov 18, 2010 12:38pm
Quoting Osman
why did you choose EUR/CHF instead of EUR/AUD or EUR/CAD which both had BEOB?
Hey Os,

EUR/CAD was an easy pass because of the weak close on my feed. It had a lot of things going for it, but the close is very important to me. (EDIT: This was not a BUOB because the low was higher than the previous bar's low.)

EUR/AUD was a great looking bar, however the trouble areas above gave this trade limited potential.

Neither have technically failed, so they can both go up... however the drawdown on them has been undesirable to say the least.

Hope this helps,

-- Danny
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  • #80,377
  • Nov 18, 2010 1:18pm Nov 18, 2010 1:18pm
Quoting nuclear62
It broke but this is a good example why itīs so hard to be picky imo.. This had a risk, not worth taking. But then itīs works and it can make you think that youīre too picky etc. But this is a maraton like we know.. Hope my trading maraton ends a bit better than my maraton last summer!

Hope you have a good day
Beautiful trade imho
  • #80,378
  • Nov 18, 2010 1:21pm Nov 18, 2010 1:21pm
Quoting bluetrader
Hey Os,

EUR/CAD was an easy pass because of the weak close on my feed. It had a lot of things going for it, but the close is very important to me. (EDIT: This was not a BUOB because the low was higher than the previous bar's low.)

EUR/AUD was a great looking bar, however the trouble areas above gave this trade limited potential.

Neither have technically failed, so they can both go up... however the drawdown on them has been undesirable to say the least.

Hope this helps,

-- Danny
perfectly clear.

thank you for posting it all like this. Really really helps.
  • #80,379
  • Nov 18, 2010 1:28pm Nov 18, 2010 1:28pm
Quoting Atc
Just want to say thanks squeeze----I always enjoy the simplicity of your charts -----please keep em' charts coming!
thanks Atc .....
Simplicity is the key to success
  • #80,380
  • Nov 18, 2010 2:01pm Nov 18, 2010 2:01pm
Anyone watching GBP/AUD?

I drew a neckline for a reverse H&S at the beginning of the week which looks like it's flipped from resistance to support. I'd like to see today close as a PIN off the trendline and above the 1.6240 PPZ
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Anything can happen.
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