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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

  • #97,421
  • Jun 27, 2011 9:14am Jun 27, 2011 9:14am
Quoting aserbfx
hi gang,

i am back from a stunning trip to the indian himalaya.
had a great time. memories for a lifetime. thanks to the hospitable indian people and their georgeous landscape and culture.

i attached some pics. i am not good at this photograph-stuff, but you maybe get a glimpse...

hope you all made some green pips.

aserbfx
welcome back bud looks like you had a blast, some cool pics there

Mike
  • #97,422
  • Jun 27, 2011 9:53am Jun 27, 2011 9:53am
thanks guys.
---------------
aud/chf is approaching an old low. wait for bullish price action on the high tf (D1 or W) to confirm entry.
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meine augen sind die sterne
  • #97,423
  • Jun 27, 2011 10:29am Jun 27, 2011 10:29am
Hi,
I've been looking at this, not sure if already mentioned.
IPB at swing low?, BRN, PPZ, 365 ema, FTA too close/ into traffic, not much space? Just wondered.

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Free speech is an oxymoron
  • #97,424
  • Jun 27, 2011 11:02am Jun 27, 2011 11:02am
1st target hit
PA rules..
likes the way Jarroo says that..
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  • #97,425
  • Jun 27, 2011 11:41am Jun 27, 2011 11:41am
I played a pin bar off the 8am GMT 1 hour (resistance around 1.4170. Entered short at 1.4128. I nearly didn't. I was stopped out shortly afterwards.

Can somebody tell me why this was an unacceptable trade (not interested to hear that it was a 1 hour)?

Thank you.

KR
  • #97,426
  • Jun 27, 2011 11:50am Jun 27, 2011 11:50am
Quoting Knight Rider
I played a pin bar off the 8am GMT 1 hour (resistance around 1.4170. Entered short at 1.4128. I nearly didn't. I was stopped out shortly afterwards.

Can somebody tell me why this was an unacceptable trade (not interested to hear that it was a 1 hour)?

Thank you.

KR
I'm not interested to know that there was a classic BUEOB on the next one hour bar (9am GMT) that if taken (and taken again after support) would have earnt you a nice number of pips today.

I am only interested if somebody can tell me why this pin bar was not a good trade to take this morning.

Thanks,
KR
  • #97,427
  • Edited 1:05pm Jun 27, 2011 11:52am | Edited 1:05pm
Quoting Knight Rider
I played a pin bar off the 8am GMT 1 hour (resistance around 1.4170. Entered short at 1.4128. I nearly didn't. I was stopped out shortly afterwards.

Can somebody tell me why this was an unacceptable trade (not interested to hear that it was a 1 hour)?

Thank you.

KR
Charts please..
is that wat u talkin about?
this look more like an IPB..not the IPB i would trade though..
such PBs work better at swing highs n higher retracement areas..
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  • #97,428
  • Jun 27, 2011 11:56am Jun 27, 2011 11:56am
Quoting AvanishDemo
Charts please..
is that wat u talkin about?
these look more like an IPB..not the IPB i would trade though..
such PBs work better at swing highs n higher retracement areas..
Yes, thank you for posting the chart.
  • #97,429
  • Jun 27, 2011 12:16pm Jun 27, 2011 12:16pm
Quoting AvanishDemo
Charts please..
is that wat u talkin about?
these look more like an IPB..not the IPB i would trade though..
such PBs work better at swing highs n higher retracement areas..
A wise reply. I think it would be beneficial (to many of us) if you define exactly what you mean by a swing high or swing low.

You are correct though, I figured this pair was trending and took a chance at an ipb on the 1h. It seemed to fit at the time, but I broke my own rule of never going short unless the pair was down on the day. It wasn't when I entered (although it was pretty close) and I thought I'd make a quick buck. It also helped that the euro had been down as low as 1.4103 prior to me taking the trade, so I pulled the trigger. A mistake.

I did take the two subsequent trades though, but thought I'd post one of my mistakes as an educational post.

KR
  • #97,430
  • Jun 27, 2011 12:19pm Jun 27, 2011 12:19pm
A trade I took last night before I went to bed. Good pinbar at previous support and BRN 1.3500. Worked out perfectly for 128 pips, pretty good for a Monday in my opinion.
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  • #97,431
  • Jun 27, 2011 12:26pm Jun 27, 2011 12:26pm
Quoting thermobee
A trade I took last night before I went to bed. Good pinbar at previous support and BRN 1.3500. Worked out perfectly for 128 pips, pretty good for a Monday in my opinion.
If I'd seen this, I would have taken the trade too.

Excellent post. Thank you for sharing.

KR
  • #97,432
  • Edited 1:03pm Jun 27, 2011 12:45pm | Edited 1:03pm
Quoting Knight Rider
A wise reply. I think it would be beneficial (to many of us) if you define exactly what you mean by a swing high or swing low.
Swing High,Retracement Swing High,Swing Low,Retracement Swing Low.(in order)
if this Helps.
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  • #97,433
  • Jun 27, 2011 1:15pm Jun 27, 2011 1:15pm
Its almost the end of the day here in North America and it looks like there might be two playable pin bars on the Aud/Usd and the Aud/Chf. Check it out for those interested.
  • #97,434
  • Jun 27, 2011 2:11pm Jun 27, 2011 2:11pm
Quoting Adilius07
Maybe someone can finally explain to me which one is correct?
How to properly identify the divergence???
there are some good sites with divergence info like naked trader.
Green line is divergence. Never to be taken on their own just another confluence. Also need to be taken of highs and lows rather than sideways market. You can also get divergence within the indicator, this is where the signal line moves differently to the histogram, this is seen as very powerful and also tips you in advance.
  • #97,435
  • Jun 27, 2011 2:48pm Jun 27, 2011 2:48pm
Quoting aserbfx
hi gang,

i am back from a stunning trip to the indian himalaya...

aserbfx
Quoting AvanishDemo
this looks even more heavenly
it was 3 years back pic in Himalayas..
Just beautiful! Here's mine from Annapurna.

I would love to travel with a notebook and trade for a year or two. That is my dream.

Tomek
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  • #97,436
  • Jun 27, 2011 3:06pm Jun 27, 2011 3:06pm
Quoting 5.25
Just beautiful! Here's mine from Annapurna.

I would love to travel with a notebook and trade for a year or two. That is my dream.

Tomek
wow, you did the "around annapurna" trek, i guess. this looks like the area around muktinath or at least east of it. am i right?
meine augen sind die sterne
  • #97,437
  • Jun 27, 2011 3:15pm Jun 27, 2011 3:15pm
Quoting aserbfx
wow, you did the "around annapurna" trek, i guess. this looks like the area around muktinath or at least east of it. am i right?
You got it Aser!

Although my friend and I walked it within a few days as opposed to the x2 weeks recommended. It's a place I always said I'd return to. Love the people, setting and isolation.

Have you developed a taste for yak butter tea?

Good to see you posting again!
  • #97,438
  • Jun 27, 2011 3:22pm Jun 27, 2011 3:22pm
Quoting 5.25
Have you developed a taste for yak butter tea?
not really no. tasted like some salty soup. phew...

try ladakh in northern india next time. from mid-september on it is nearly free of tourists...
meine augen sind die sterne
  • #97,439
  • Edited 3:58pm Jun 27, 2011 3:45pm | Edited 3:58pm
Quoting danielga
I think we have different broker
beacuse i cant find your example on my chart
what do you mean when u say cleaner IB?
Sorry for my vague explanation.

I like to see obvious patterns, let the market tell me what it's doing as opposed to skewing the information.

With an inside bar for example, I like to see them VERY small in comparison to the previous bar, minimal movement and small body. The closer it is to the description, the 'cleaner' the PA is for me. Throw in a S/R level and you've got yourself a strong trade setup.

Attached is a IB I traded back in April. Hope it helps.

Just my view, others may see it differently.

Edit: On my feed, eurgbp is forming a nice IB although it's sitting right underneath the daily trend line. 4H.
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  • #97,440
  • Jun 27, 2011 5:48pm Jun 27, 2011 5:48pm
Quoting thermobee
A trade I took last night before I went to bed. Good pinbar at previous support and BRN 1.3500. Worked out perfectly for 128 pips, pretty good for a Monday in my opinion.

Yeah i took this one too!

I was worried about the resistance at 1.36 so i closed half the position there (30 pips) then moved to BE with the rest and rode it out for the 130 pips. Perfect!

And I am lookind at the AUD as well, not sure if I'll take the AUDCHF as well but both are looking interesting...
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