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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

  • #83,201
  • Dec 20, 2010 11:17pm Dec 20, 2010 11:17pm
Quoting jarroo
That Pin Bar is what its all about, my friend.

Classic J16 . .
Jarroo actually misses a trade on occasion?
You were probably sleeping.

And apart from tweaking the PPZ I drew on the Daily on the weekly TF, all the relevant information was right there on the Daily......Food for thought.
  • #83,202
  • Dec 20, 2010 11:30pm Dec 20, 2010 11:30pm
Merry Christmass to ALL that feel they can read some sembelence of sense into the Holiday Market.

Put down the Sniper Rifle, Lay away the Shotgun & pick up a Blunderbuss. You have as much chance of Calling it.


B
  • #83,203
  • Dec 20, 2010 11:32pm Dec 20, 2010 11:32pm
Quoting Bemac
Merry Christmass to ALL that feel they can read some sembelence of sense into the Holiday Market.

Put down the Sniper Rifle, Lay away the Shotgun & pick up a Blunderbuss. You have as much chance of Calling it.


B

Maybe picking up a Wee Dram is a better idea.

Merry Xmas Bemac.. I hear that Merry Xmas is not longer politcally correct in the UK these days, and they all go around saying Happy Xmas.

Something to do with Merry suggesting Drunkenness...And Bloody Right, it should.
  • #83,204
  • Dec 20, 2010 11:34pm Dec 20, 2010 11:34pm
This is the Window for Specs to Move the Market while the Big Dog Execs are away


I'm looking away from the Window and toward the Yule Log.


B
  • #83,205
  • Dec 20, 2010 11:38pm Dec 20, 2010 11:38pm
Quoting Bemac
Merry Christmass to ALL that feel they can read some sembelence of sense into the Holiday Market.

Put down the Sniper Rifle, Lay away the Shotgun & pick up a Blunderbuss. You have as much chance of Calling it.


B

Merry Christmas to you and yours, my friend . . .
Indicators show the past. Price Action "Indicates" the future.
  • #83,206
  • Dec 21, 2010 12:11am Dec 21, 2010 12:11am
what only bothers is the fact that it closed below 100 usd.
baidu on daily
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meine augen sind die sterne
  • #83,207
  • Dec 21, 2010 12:17am Dec 21, 2010 12:17am
a great area to look for short pa-setups...
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meine augen sind die sterne
  • #83,208
  • Dec 21, 2010 1:31am Dec 21, 2010 1:31am
Short Daily BEOB Eur/Usd

Already in heavy loss
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Don't give up
  • #83,209
  • Dec 21, 2010 1:38am Dec 21, 2010 1:38am
a
Quoting james16
chart
Hi Jim, could you elaborate a bit on how you managed this trade? My first question when I saw the chart was: What did Jim do when the 2nd bar after the PB came back on him and would have taken him out at BE? Did you give this one more room to breath? Or did you re-enter on the retrace?

Thank you very much
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,210
  • Dec 21, 2010 1:41am Dec 21, 2010 1:41am
Quoting geomink
Short Daily BEOB Eur/Usd

Already in heavy loss
I have a feeling that we are going to see a bit more upward movement before resuming down to the 1.30 area. I am currently watching/waiting for some PA in the 1.3232 area or if that gets breached the 3280 area.

K.I.S.S.
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  • #83,211
  • Dec 21, 2010 1:49am Dec 21, 2010 1:49am
Quoting HanSolo
a

Hi Jim, could you elaborate a bit on how you managed this trade? My first question when I saw the chart was: What did Jim do when the 2nd bar after the PB came back on him and would have taken him out at BE? Did you give this one more room to breath? Or did you re-enter on the retrace?

Thank you very much
Hans

Hey Hans. You talking about this bar?

I imagine, he had already taken some off the table by then & moved the SL to above the 150 EMA. I would have.
Seems a logical place to move it above the 150 and the 1.33500
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  • #83,212
  • Dec 21, 2010 1:49am Dec 21, 2010 1:49am
Quoting KissFan
I have a feeling that we are going to see a bit more upward movement before resuming down to the 1.30 area. I am currently watching/waiting for some PA in the 1.3232 area or if that gets breached the 3280 area.

K.I.S.S.
Here is another possible scenario that suggests some slightly different retracement targets.

K.I.S.S.
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  • #83,213
  • Dec 21, 2010 1:50am Dec 21, 2010 1:50am
i just took some partial profit at 32 and several other areas. the pullback to the 150 ema/3350 did not reach my stop at BE.

i did a video explainimng itr (pretty simple) but text posts are hard to cxonvey thoughts.



Quoting HanSolo
a

Hi Jim, could you elaborate a bit on how you managed this trade? My first question when I saw the chart was: What did Jim do when the 2nd bar after the PB came back on him and would have taken him out at BE? Did you give this one more room to breath? Or did you re-enter on the retrace?

Thank you very much
Hans
  • #83,214
  • Dec 21, 2010 1:55am Dec 21, 2010 1:55am
Quoting geomink
Short Daily BEOB Eur/Usd

Already in heavy loss
Hey geomink, look to the left on your chart: There's some (though minor) PPZ you're trading into. It's logical that the bar stalled here and is ready for a retrace of the BEOB. Like Jarroo and Jim discussed 1.32 could now act as a resistance. Depending on your risk awareness you could use this to manage your trade.
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,215
  • Dec 21, 2010 2:03am Dec 21, 2010 2:03am
Quoting torontobboy2
Risk is 50 pips. At $1000 it was around 5% and as I my balance grew I still kept on using 50 pip stop loss.
Well, risking 5% and making 150% profit in 4 weeks and EXACTLY as planned as you say is something amazing really.

Me too, I am making whooping +87% profit so far for several months demo trading. And is almost exactly as I planned. Really it all comes back to being patient and disciplined in ability to execute written rules and never deviate from them. But I am being more conservative I am only risking 2% per trade and trade only daily/weekly setup...
  • #83,216
  • Dec 21, 2010 2:03am Dec 21, 2010 2:03am
Quoting Pinbar
Hey Hans. You talking about this bar?

I imagine, he had already taken some off the table by then & moved the SL to above the 150 EMA. I would have.
Seems a logical place to move it above the 150 and the 1.33500
Quoting james16
i just took some partial profit at 32 and several other areas. the pullback to the 150 ema/3350 did not reach my stop at BE.

i did a video explainimng itr (pretty simple) but text posts are hard to cxonvey thoughts.
Thank you very much, Jim and PB.

Jim, is your BE the point where you entered (BE in terms of pips) or where this becomes a free trade for you (BE in terms of money = with a SL above your entry but still no monetary loss since you took partial profit before)?

EDIT: I overlooked the video where you probably answer my question. Will have a look at it, thanks!
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,217
  • Dec 21, 2010 2:21am Dec 21, 2010 2:21am
Jarroo

Looks like we have a nice confluence area on GU daily, which happens to be the previous bar low to the weekly BEOB.
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  • #83,218
  • Dec 21, 2010 2:24am Dec 21, 2010 2:24am
Quoting Pinbar
Jarroo

Looks like we have a nice confluence area on GU daily, which happens to be the previous bar low to the weekly BEOB.

That's the 1.5650. . .check out the Monthly.
Indicators show the past. Price Action "Indicates" the future.
  • #83,219
  • Dec 21, 2010 2:40am Dec 21, 2010 2:40am
Quoting jarroo
That's the 1.5650. . .check out the Monthly.

Aghhhh, it has already tested the close of the monthly BEOB.

You are the Man!
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  • #83,220
  • Dec 21, 2010 2:51am Dec 21, 2010 2:51am
Quoting Pinbar
Aghhhh, it has already tested the close of the monthly BEOB.

You are the Man!

You can see how a Weekly or Daily bar close below the 1.5500 would be nice.

What would be the 1st target of the Monthly BEOB ?
Indicators show the past. Price Action "Indicates" the future.
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