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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

  • #81,301
  • Dec 1, 2010 5:16am Dec 1, 2010 5:16am
Quoting Pinbar
Nice clean charts and PPZ GJ.

I think I am at LONG last starting to see how to do this on the weekly.

I use the Price indicator so I don't put them exactly on RNs.
, things certainly got a little easier once i had confidence in my PPZs!
PATIENCE... DISCIPLINE
  • #81,302
  • Dec 1, 2010 5:26am Dec 1, 2010 5:26am
Hey g_j

Your g/chf entry was based on the 4hr BUOB ?

Thx !

Quoting g_j_hook@yah
gb/cgf... closed half,moved stop to 1.5580. if the 1.5500 level cant hold as support now i would loose all confidence in the trade. The trade will net about break even now so its a free ride whatever happens. Will take full profit if it reaches 158.50 adjusting the stop accordingly along the way
Trade Smart
  • #81,303
  • Dec 1, 2010 5:28am Dec 1, 2010 5:28am
Quoting g_j_hook@yah
, things certainly got a little easier once i had confidence in my PPZs!

Yes, I think you hit the nail on the head.
I am still learning to do that.

Thanks for the hint GJ.
  • #81,304
  • Dec 1, 2010 6:02am Dec 1, 2010 6:02am
Quoting Osman
Hey g_j

Your g/chf entry was based on the 4hr BUOB ?

Thx !
no, the daily pin. (IBFX) i dont have a 4h BUOB on my chart.
jon
PATIENCE... DISCIPLINE
  • #81,305
  • Dec 1, 2010 6:04am Dec 1, 2010 6:04am
Thanks Jarroo,
You are always rocking sir.
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  • #81,306
  • Dec 1, 2010 6:05am Dec 1, 2010 6:05am
Thx Jon !

Quoting g_j_hook@yah
no, the daily pin. (IBFX) i dont have a 4h BUOB on my chart.
jon
Trade Smart
  • #81,307
  • Dec 1, 2010 6:07am Dec 1, 2010 6:07am
Quoting Pinbar
Yes, I think you hit the nail on the head.
I am still learning to do that.

Thanks for the hint GJ.
it was a big step for me, how much confidence could i have in a bar if im not sure of the location??
p.s.i wasnt hinting nor am i trying to teach anything with my charts, its more of an exorcise for myself. iv been away from the markets a while so it good to get feed back on what im seeing, and as this is the best thread online by far....
PATIENCE... DISCIPLINE
  • #81,308
  • Dec 1, 2010 7:14am Dec 1, 2010 7:14am
gb/yen...moved SL to 130.45, just below intraday PPZ and retracement low(on 1h TF)]
will move SL to below 131.00 after a retrace to that level (if it happens)
this is a 4h trade with tight management conditions so intra day levels play a part in my trade management. now looking for 132.00
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PATIENCE... DISCIPLINE
  • #81,309
  • Dec 1, 2010 7:42am Dec 1, 2010 7:42am
Quoting geomink
Short Eur/Gbp

Blu EP

Red SL
already in loss!!!

WOW!!!

:-))))))
Don't give up
  • #81,310
  • Dec 1, 2010 7:43am Dec 1, 2010 7:43am
Quoting geomink
already in loss!!!

WOW!!!

:-))))))
What was the reason for this trade?
  • #81,311
  • Dec 1, 2010 7:45am Dec 1, 2010 7:45am
Quoting Adilius07
What was the reason for this trade?
daily beob trend continuation on ppz
Don't give up
  • #81,312
  • Dec 1, 2010 7:48am Dec 1, 2010 7:48am
Quoting jarroo
Me too . . . Don't know where he's been . .
Not only him, a lot of the other guys who used to post here when I joined this thread in august seem to have stopped visiting this thread, maybe they all have become succesfull traders now thanx to this thread
Pipcrawler
  • #81,313
  • Dec 1, 2010 7:51am Dec 1, 2010 7:51am
Quoting geomink
daily beob trend continuation on ppz
I think it was against really strong PPZ. No room to move.
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  • #81,314
  • Dec 1, 2010 8:04am Dec 1, 2010 8:04am
Quoting Adilius07
I think it was against really strong PPZ. No room to move.
boh!
Don't give up
  • #81,315
  • Dec 1, 2010 8:06am Dec 1, 2010 8:06am
Quoting geomink
daily beob trend continuation on ppz
Already in loss ? Didn't you manage your trade accordingly when price came in close range of that PPZ. That PPZ is a very clear, crisp PPZ @ 8335-ish. You shouldn't be surprised when price reverses when it hits that PPZ, a sensible trader would then take some profit of the table and/or move his/her SL to BE.
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Pipcrawler
  • #81,316
  • Dec 1, 2010 8:21am Dec 1, 2010 8:21am
What do you guys think? Pretty strong downmove but still looks pretty good to me. We also have a reverse kind of head shoulder pattern forming on weekly.

/pat

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  • #81,317
  • Dec 1, 2010 8:43am Dec 1, 2010 8:43am
Quoting plund
What do you guys think? Pretty strong downmove but still looks pretty good to me. We also have a reverse kind of head shoulder pattern forming on weekly.

/pat

Attachment
the bar itself is one point in this game.
as you mention yourself, chart patterns like H&S, support/resistance, moving averages have to come along with the "bar-setup".
in that case, i could not see any confluence. but that said, the trade can be profitable though.
meine augen sind die sterne
  • #81,318
  • Dec 1, 2010 8:55am Dec 1, 2010 8:55am
Thanks aser,

As I see it the area has some strong proven support from before. I 've never traded this pair and never watch it, just saw the setup by accident. I'll be watching it.

/pat
  • #81,319
  • Dec 1, 2010 9:03am Dec 1, 2010 9:03am
Quoting plund
What do you guys think? Pretty strong downmove but still looks pretty good to me. We also have a reverse kind of head shoulder pattern forming on weekly.

/pat

Attachment
As you said its a stronnng downtrend.. looks a consolidation phase.

Like the location, like the bar, lot of space but with a 10 pips spread, such a strong downtrend and a lot of traffic between the 9.265 and the 9.300 ... it would be a pass for me.

Tc.
Trade Smart
  • #81,320
  • Dec 1, 2010 9:11am Dec 1, 2010 9:11am
Quoting jarroo
Looks like its at the target.

The power of location over formation.
Thanks Jarroo,
as time passes this fact is proving itself to me
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