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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

  • #94,221
  • Apr 21, 2011 10:45pm Apr 21, 2011 10:45pm
whats up jon? always good to see you.

jim

Quoting g_j_hook@yah
yeah im with you, makes some great posts.
thanx for reminding me, i was gonna reply to that post also.
hope all is well with you sir.


jon
  • #94,222
  • Apr 21, 2011 11:24pm Apr 21, 2011 11:24pm
Got filled around 118.95 and started covering and going for BE at 117.87. Two-bar reversal, just shy of PPZ at 123.50, and the 50 fib.

It's been a two-month self discovery for me. I regret the day I turned my back on this method, but oh well, live and learn. I'm here to stay for good this time.

If possible, take a break from the charts, enjoy your family and friends, and thank the good Lord for his blessings (if you believe). Happy Easter J16 crew and trade safe.
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"Don't trade to trade . . . trade to win." - James16
  • #94,223
  • Apr 21, 2011 11:54pm Apr 21, 2011 11:54pm
Quoting Flem26
Got filled around 118.95 and started covering and going for BE at 117.87. Two-bar reversal, just shy of PPZ at 123.50, and the 50 fib.

It's been a two-month self discovery for me. I regret the day I turned my back on this method, but oh well, live and learn. I'm here to stay for good this time.

If possible, take a break from the charts, enjoy your family and friends, and thank the good Lord for his blessings (if you believe). Happy Easter J16 crew and trade safe.
Great job bud

Same to you and yours

Mike
  • #94,224
  • Apr 22, 2011 2:08am Apr 22, 2011 2:08am
The Eur/Usd & Usd/Chf may not be true pin bars, but has anyone seen the daily pinbar on Usd/Cad?
  • #94,225
  • Apr 22, 2011 2:17am Apr 22, 2011 2:17am
Quoting Sir Pipalot
The Eur/Usd & Usd/Chf may not be true pin bars, but has anyone seen the daily pinbar on Usd/Cad?
I am long usd/cad from H4 BUOB and I like it closing as PB yes.
Nice PB isn't it? However some R right above, so we need to watch carefully.
  • #94,226
  • Apr 22, 2011 2:26am Apr 22, 2011 2:26am
Yeah, I was going to wait until at least 50% retracement on PB before entering to improve risk:reward based on anticipated resistance levels.

Good luck with the trade.

SP
  • #94,227
  • Apr 22, 2011 2:27am Apr 22, 2011 2:27am
Quoting Sir Pipalot
Yeah, I was going to wait until at least 50% retracement on PB before entering to improve risk:reward based on anticipated resistance levels.

Good luck with the trade.

SP
Thanks you too!
Looks like it could easily retrace to at least 0.95.
  • #94,228
  • Apr 22, 2011 3:44am Apr 22, 2011 3:44am
hi yawl, a god day to take a holiday, do some research, do some back testing.
NOT a good day for taking small a$$ pins and trading into a void.(imho)
enjoy the sun everyone,if you got some.
for me personally the us/cad pin is very small compared to the strength of that down trend,e.g.the bar is almost half the size of that big red one before it,could well be a just little profit takin before the hols?? maybe a little more today as its friday?? but i dont trust bars that form in these situations..maybe thats just me??

happy good friday, hope you all have a good day

jon
PATIENCE... DISCIPLINE
  • #94,229
  • Apr 22, 2011 6:09am Apr 22, 2011 6:09am
Your charts are very helpful indeed, thank you for taking your time and effort to post these, along with your clear and precise explanations.

LR
  • #94,230
  • Apr 22, 2011 7:32am Apr 22, 2011 7:32am
Quoting james16
bar hasnt closed yet but 9550 is right above you so take note of that and the bar lows above that at the 9600 level are substantial. its a counter trend trade which i like (many dont) but you have to be ready willing and able to take a breakeven if it turns against you. why do i like these? these are the set ups that eventually signal a reversal either short term or sometimes long term. its easy to get burned if your not practiced and accomplished from experience but boy is it a thrill to get a 2000 pip runner from one of these. it happens more...
This was awesome man,not a shadow of doubt to why people follow your thread...gotta check-BUT-beware of counter trend setups from next time..as u said either it will be short term or long runner..nice stuff to learn!!all needed is experience!!gotta try this out next time

Happy Easter's Day
  • #94,231
  • Apr 22, 2011 7:40am Apr 22, 2011 7:40am
Quoting mbqb11
Great job bud

Same to you and yours

Mike
Hey Mike,the thing Flem26 was talking about 2-bar reversal setup..did he meant weekly 2 pinbar..or is it some another setup people take?..i liked it too,i had strong feeling that it will snowboard hard down till 116 given the space it created..

Happy Easters Day!
  • #94,232
  • Apr 22, 2011 8:08am Apr 22, 2011 8:08am
Quoting LoneRanger
Your charts are very helpful indeed, thank you for taking your time and effort to post these, along with your clear and precise explanations.

LR

Cool bud you are quite welcome

Mike
  • #94,233
  • Apr 22, 2011 8:10am Apr 22, 2011 8:10am
Quoting AvanishDemo
Hey Mike,the thing Flem26 was talking about 2-bar reversal setup..did he meant weekly 2 pinbar..or is it some another setup people take?..i liked it too,i had strong feeling that it will snowboard hard down till 116 given the space it created..

Happy Easters Day!
Hey Avanish

Yep a 2 bar reversal is the same as a 2week pinbar, or just simply combing to bars to change the aggregation of the bars. In flems case it was the 2week pinbar as you stated.

Happy holidays to all too

Mike
  • #94,234
  • Edited 9:34am Apr 22, 2011 9:22am | Edited 9:34am
Quoting mbqb11
Hey T3000

I put some thoughts on a chart for you

Best
Mike
mike, thanks for your thoughts. The pair is indeed stuck around your marked level, yet with little price action due to bank holiday. happy eastern
  • #94,235
  • Apr 22, 2011 10:05am Apr 22, 2011 10:05am
Happy holidays all of you !
Nothing personal,just business
  • #94,236
  • Apr 22, 2011 10:41am Apr 22, 2011 10:41am
Thanks for the warm welcome, James16 and mbqb11.

Thanks for the advise. I will extract the wealth of information from here.
  • #94,237
  • Apr 22, 2011 11:43am Apr 22, 2011 11:43am
on daily chart ,almost a pinbar of yesterday's. and on weekly chart ,price meets the high @ 2010.01.10.a big reversal may be soon . focus on the 1.45 round number .
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A chart helps those who can read it.
  • #94,238
  • Apr 22, 2011 11:49am Apr 22, 2011 11:49am
Umm..i think NO for this IPB...-->passed!!
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  • #94,239
  • Apr 22, 2011 12:18pm Apr 22, 2011 12:18pm
Quoting AvanishDemo
Umm..i think NO for this IPB...-->passed!!
Good stuff buddy.

I have my 365 in confluence with the 7600 area. We also have a trend line break out for those of us who follow them (I don't as such)

We're not dropping the axe on our own feet. . . definitely not, right A?

g.
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I believe . . .
  • #94,240
  • Apr 22, 2011 12:27pm Apr 22, 2011 12:27pm


Quoting Flem26
Got filled around 118.95 and started covering and going for BE at 117.87. Two-bar reversal, just shy of PPZ at 123.50, and the 50 fib.

It's been a two-month self discovery for me. I regret the day I turned my back on this method, but oh well, live and learn. I'm here to stay for good this time.

If possible, take a break from the charts, enjoy your family and friends, and thank the good Lord for his blessings (if you believe). Happy Easter J16 crew and trade safe.
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