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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

  • #94,381
  • Apr 26, 2011 1:36am Apr 26, 2011 1:36am
Quoting bjorken
Wow I didnt realise that the feeds can be this different, Im on FxPro and for me the "pin bar" closed on the lower half of the bar, not on the top as on your feed
Also check the locations for 150/365 ma's for different feeds
  • #94,382
  • Apr 26, 2011 1:46am Apr 26, 2011 1:46am
Quoting tgolon02
Hello everyone, tom here (first time poster). first off, a big thanks to all the senior members who have dedicated so much time and effort on this forum to helping others. i believe fate has led me this forum - all be it a little later than i had wished - but im very thankful and happy to have this community and hope that one day i'll be able to repay the favor (with helping others in their quest for financial freedom)....
silver with weak pinbar on daily. fxsolutions feed
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  • #94,383
  • Apr 26, 2011 1:54am Apr 26, 2011 1:54am
gold daily with weak pinbar. i suppose any bearish close could still keep 1475 as first target
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  • #94,384
  • Apr 26, 2011 1:59am Apr 26, 2011 1:59am
Took a long trade off the PB on the 25EMA + PPA. Moved stop to lock in a tiny profit now but just a bit below another resistance that it broke upward in.

http://i53.tinypic.com/a4tx02.gif
  • #94,385
  • Apr 26, 2011 2:11am Apr 26, 2011 2:11am
Quoting tgolon02
silver with weak pinbar on daily. fxsolutions feed
Hey TG

Welcome to the thread bud

I think you said it best with the weak closings. It's hard to have much confidence to be shorting off these weak bars on these super trends. The thing with it is that once these things turn and a retracement comes usually you will get other opportunities to get back in. So for me if that setup and confluence isn't top notch I am the type of trader to just wait for hopefully another entry. Like you I am watching the BRNs(and probably everyone else) of 50 and 1500 on silver/gold

Again welcome to the thread
Mike
  • #94,386
  • Apr 26, 2011 3:05am Apr 26, 2011 3:05am
Quoting biDc
Took a long trade off the PB on the 25EMA + PPA. Moved stop to lock in a tiny profit now but just a bit below another resistance that it broke upward in.
Success! Took profit off 50% of position at +61pips. Moved SL to the next level of resistance it closed above. Going to sleep now. Thanks for everyone's help!
  • #94,387
  • Apr 26, 2011 3:21am Apr 26, 2011 3:21am
Quoting Dan Gilbert
so far, so good. I would say it's a hard break. Moved my stop to 8950, I think the 89 should prove good resistance against a strong retracement.
still moving.
Attached Image
Many choose unhappiness over uncertainty.
  • #94,388
  • Apr 26, 2011 3:42am Apr 26, 2011 3:42am
Quoting biDc
Took a long trade off the PB on the 25EMA + PPA. Moved stop to lock in a tiny profit now but just a bit below another resistance that it broke upward in.

Hi biDc,

within my Broker Time this bar was not a PB. Still a big move in your choosen direction
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rise and rise again until lambs become lions
  • #94,389
  • Apr 26, 2011 3:43am Apr 26, 2011 3:43am
Quoting ghous
PA bar retracement entry. The left eye in confluence with a RN - a powerful thing.

Can 9550 give in? Anxiously watching . . .

g.
Ghous,

You see the S&P is up into the 1333's (the spider) and you get the sell off in USD/CAD...that's why it pays to watch that correlation.

Tom
  • #94,390
  • Apr 26, 2011 5:18am Apr 26, 2011 5:18am
Attached chart is my second trade.
CADCHF, break out the weekly two matching low.
First target is 9100.
Like to see where it will go.
Any comment is appreciated..
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: CADCHF weekly.PNG Size: 36 KB
  • #94,391
  • Apr 26, 2011 5:18am Apr 26, 2011 5:18am
I'm wondering if the location is right to play this Pin?
Thanks for your contribution
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  • #94,392
  • Apr 26, 2011 5:22am Apr 26, 2011 5:22am
Quoting karnivol
hi new to the thread, i know i'm suppose to stick to daily and weekly charts but i took 4hr pb counter with macd divergence FTA 8845 move to BE any comments?
I am sure someone already may have answered your question.
But one point i think was not addressed which was,that your trying to pick a bottom in a currency pair which is heavily falling.

Please see Usd/Chf chart and you will find that any pin bars or so called rejection bar pointing bullishley will more often then not fail.

Trend is Your Friend Buddy,stay with it.

Hope this helps an as already someone addressed your question,just add one point in your cache that trade with trend.
Regards
Taz
  • #94,393
  • Apr 26, 2011 5:25am Apr 26, 2011 5:25am
Quoting ginowise
I'm wondering if the location is right to play this Pin?
Thanks for your contribution
That is so not a pin bar,maybe you will be successfully able to trade because of location or S/R alone if good.
But kindly see that trading 1 hr or 4 hr bars is disastrous.
And i advice to stick with higher TF and trade with trend.
Remember the Concepts:

higher TF+Confluence+PPZ is a winning trade.
But poor bars on lower TF are recipes for disaster.
Regards
Taz
  • #94,394
  • Apr 26, 2011 5:29am Apr 26, 2011 5:29am
If i am right 14600 has held at-least for 1 or 2 pull backs.
Best entry is Breakout Pullback short below 14600.
Regards
Taz
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  • #94,395
  • Apr 26, 2011 6:00am Apr 26, 2011 6:00am
thanks taz 'the old trend is your friend'
  • #94,396
  • Apr 26, 2011 6:37am Apr 26, 2011 6:37am
Quoting bjorken
Wow I didnt realise that the feeds can be this different, Im on FxPro and for me the "pin bar" closed on the lower half of the bar, not on the top as on your feed
Quoting karnivol
hi new to the thread, i know i'm suppose to stick to daily and weekly charts but i took 4hr pb counter with macd divergence FTA 8845 move to BE any comments?
hello karnivol,
can u tell us the time now on your MT4 (Go Markets)?
GMT + 2, right?
thanks!
  • #94,397
  • Apr 26, 2011 7:29am Apr 26, 2011 7:29am
Quoting ginowise
I'm wondering if the location is right to play this Pin?
Thanks for your contribution
Hey gino

Some thoughts on a chart

Best
Mike
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  • #94,398
  • Apr 26, 2011 7:29am Apr 26, 2011 7:29am
Quoting 666Doom
If i am right 14600 has held at-least for 1 or 2 pull backs.
Best entry is Breakout Pullback short below 14600.
Regards
Taz
bingo Taz, very important here
  • #94,399
  • Apr 26, 2011 7:44am Apr 26, 2011 7:44am
Quoting Chlam
Attached chart is my second trade.
CADCHF, break out the weekly two matching low.
First target is 9100.
Like to see where it will go.
Any comment is appreciated..
Hey Chlam

I think it looks pretty good. I prefer multi bar lows/highs and also the ones that "hang" out there and create a swing point, where as this one is sort of stuck in the middle trading back into a swing low. But I still like how you identified the s/r and the bars closed under your area too. I think it looks pretty good to work out

Best
Mike
  • #94,400
  • Apr 26, 2011 7:48am Apr 26, 2011 7:48am
Hi

This is a trade I am currently in (from Last week)

this is DBHLC conflunced with 200MA and 150MA. I am trying to follow 2bar exit as exit criteria. But it strugling to break 81.500 at the moment. Even when entering the trade I was looking this area as my initial target.It straightaway shoot to this traget and bounced back.

I would like any of our seniors to hv a look at this chart and give some comments.


Suranga
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