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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

  • #83,401
  • Dec 22, 2010 5:50am Dec 22, 2010 5:50am
Quoting geniusztc
don't take it that way, my friend.
a friend of mine is an engineer and working on a perpetuum mobile. he said the following: i tried a thousand different objects. none worked. and every time my knowledge grows because i know that these all didn't work and i can adopt it and try something different.
meine augen sind die sterne
  • #83,402
  • Dec 22, 2010 6:05am Dec 22, 2010 6:05am
Quoting aserbfx
don't take it that way, my friend.
a friend of mine is an engineer and working on a perpetuum mobile. he said the following: i tried a thousand different objects. none worked. and every time my knowledge grows because i know that these all didn't work and i can adopt it and try something different.
really thank you for your encourage,my friend.
and ,you can see ,it is not too bad . now i have more confidence for its reverse.
just set up ST, then let it go .
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A chart helps those who can read it.
  • #83,403
  • Dec 22, 2010 7:49am Dec 22, 2010 7:49am
Went to BE and am going to leave it overnight.

If the back of that PB breaks, we may be in with a chance of a good run down.


EDIT: It just broke.
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  • #83,404
  • Dec 22, 2010 8:33am Dec 22, 2010 8:33am
well, I liked the run down after the back of the H4 PB broke and decided to take off half of the remaining position and just let the rest ride.

Sure was a nice trade for a relatively small SL.
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  • #83,405
  • Dec 22, 2010 8:50am Dec 22, 2010 8:50am
cheers! thanks for jame's pin bar .it is really great . LOL.

should i closed half of my uchf long orders???
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A chart helps those who can read it.
  • #83,406
  • Dec 22, 2010 9:11am Dec 22, 2010 9:11am
Quoting Pinbar
well, I liked the run down after the back of the H4 PB broke and decided to take off half of the remaining position and just let the rest ride.

Sure was a nice trade for a relatively small SL.
Yay, great trade, PB!
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,407
  • Dec 22, 2010 9:22am Dec 22, 2010 9:22am
Quoting geniusztc
cheers! thanks for jame's pin bar .it is really great . LOL.
should i closed half of my uchf long orders???
it depends on your outlook for future price action &/or risk profile.
it wouldnt hurt if u close a part of your position, though
  • #83,408
  • Dec 22, 2010 9:28am Dec 22, 2010 9:28am
Jim would write

http://www.forexfactory.com/showpost...ostcount=39300
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  • #83,409
  • Dec 22, 2010 9:42am Dec 22, 2010 9:42am
Quoting supremeChaos
it depends on your outlook for future price action &/or risk profile.
it wouldnt hurt if u close a part of your position, though
got it . losed part position . thank you .
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A chart helps those who can read it.
  • #83,410
  • Dec 22, 2010 9:48am Dec 22, 2010 9:48am
Quoting geniusztc
got it . losed part position . thank you .
No offense,but... where is your SL?
Nothing personal,just business
  • #83,411
  • Dec 22, 2010 9:59am Dec 22, 2010 9:59am
Quoting fxgroup
If the daily bar closes like now,I would like to see something like that.
Now I have an idea where the price is going !
Nothing personal,just business
  • #83,412
  • Dec 22, 2010 10:02am Dec 22, 2010 10:02am
Breakout and retest of very strong resistance with trendline confluence. Tight stop over the last bounce before the breakout. Was bit scared about the strong usd but chf is hell of a beast lately ;]
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  • #83,413
  • Dec 22, 2010 10:03am Dec 22, 2010 10:03am
Quoting fxgroup
No offense,but... where is your SL?
man, you are right. i am wrong ,i have no SL .so this is the result, bad result.
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A chart helps those who can read it.
  • #83,414
  • Dec 22, 2010 10:08am Dec 22, 2010 10:08am
Quoting mbqb11
Jim would write

http://www.forexfactory.com/showpost...ostcount=39300
At least your one is green - that one was red

I must learn about pins by proxy..
Anything can happen.
  • #83,415
  • Dec 22, 2010 10:09am Dec 22, 2010 10:09am
Quoting geniusztc
man, you are right. i am wrong ,i have no SL .so this is the result, bad result.
You took profit on half and b/e on second half then what is the problem?
  • #83,416
  • Dec 22, 2010 10:10am Dec 22, 2010 10:10am
Quoting geniusztc
cheers! thanks for jame's pin bar .it is really great . LOL.

should i closed half of my uchf long orders???
hi geniusztc, sorry to be a party pooper but dont celebrate the us/chf trade too hard yet. That was what i have come to term as a sucker trade (to myself! im not calling you a sucker! )the signs look goos but im not takin into considerstion one important factor..in this case the trend and that strong move down previous to the pinbar. price is really just testing the last PPZ it broke through. for now at least. i would have already taken full profit on that. i hope the charts help put things more in perspective.
which is my next point..you really need to set your targets BEFORE you enter a trade, and ask any advise before you decide if you feel it necessary. If you havnt fully considered where price might get into trouble after your in the trade how is it possible to plan it and consider if it risk worthy or not from an MM point of view??
sorry for the rant jus dont want you to pick up any bad habbits.

keep going you are doing very well, i dont mean to discourage you buddy

jon
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PATIENCE... DISCIPLINE
  • #83,417
  • Dec 22, 2010 10:10am Dec 22, 2010 10:10am
Quoting geniusztc
PATIENCE... DISCIPLINE
  • #83,418
  • Dec 22, 2010 10:11am Dec 22, 2010 10:11am
Quoting ddinnov
At least your one is green - that one was red

I must learn about pins by proxy..
? Not sure what you mean here D.

A proxy pin is when the open and close are not within the prior bar. Both are valid pins with open and closes within the prior bar and very big bars

Let me know

Mike
  • #83,419
  • Dec 22, 2010 10:12am Dec 22, 2010 10:12am
Quoting geniusztc
man, you are right. i am wrong ,i have no SL .so this is the result, bad result.
lol...refer to my post above lol... the word "PLAN" comes to mind!
PATIENCE... DISCIPLINE
  • #83,420
  • Dec 22, 2010 10:26am Dec 22, 2010 10:26am
Quoting Greenhaze
You took profit on half and b/e on second half then what is the problem?
the second part ,i only earned 6 pips . i think i should set up SL @ 9545 at least. but i did not do that .
A chart helps those who can read it.
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