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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

  • #98,061
  • Jul 7, 2011 11:13pm Jul 7, 2011 11:13pm
Quoting gungriffin
For me I stopped taking partial profits (while still in demo) when I started to believe in myself as a trader. In the future I may find a situation where it is advantagous, but I don't see one right now. I think of it like this- I lay in waiting to take only the trades that I see as the absolute best possible setups. If that is the case then why take partial profits? I see it as sacrificing pips due to a lack of trust in the trade itself, and if that is my viewpoint then I believe I need to be taking a look at if I should even be in the trade in...
Thanks. I have the same mind set as well.
  • #98,062
  • Jul 8, 2011 12:28am Jul 8, 2011 12:28am
What do you guys think of this? Price returned to PPZ confluenced with fib along with close of a previous DBHLC.
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  • #98,063
  • Jul 8, 2011 1:54am Jul 8, 2011 1:54am
Quoting biDc
What do you guys think of this? Price returned to PPZ confluenced with fib along with close of a previous DBHLC.
Looks short on this pair is risky, as the weekly shows a BUOB and MACD div, even overall trend is still down trend, hard for both short and long.
----------------------------- Discipline makes the difference.
  • #98,064
  • Jul 8, 2011 2:50am Jul 8, 2011 2:50am
Quoting Bemac
My apologies KR. There is no explanation as to Why I wouldn't have responded to your Q.

My answer, if I had replied, would have been something like this.

I never Take a Trade without a Min Target in mind.
I never Take a Trade without a Risk To Price in mind.

Problem is; That MinTarget:Risk Ratio is Never the same.
It's not something I can include in a "Bankable" method.

When I see a Potential Trade, I do a number of things Before I pull the Trigger. (more rthan 2)
1) [b]Using methodologies very similar to Mikes, I determine what...
Bemac,

thank you for responding. i'm on the move today so can't write much, but i've been wondering if you use s/r for stops, why do other members use full bar stops (e.g. boeb) which are often below r/s points?

Also, do you ever trade the dibs concept when a pair is on the run?

thank you again for your reply.

best,
kr
  • #98,065
  • Jul 8, 2011 3:45am Jul 8, 2011 3:45am
I am on my other computer and my FXDD feed here so there is no buy order on this chart as the order is on my live account.

Looking at this with weekly support levels and resistance levels above and below current price, it is very interesting.

Looking at the H1 tf, we have an obvious PB but, the open is nearly half way up the bar and it has no space.

The H4 tf also has a BEOB but, I am thinking the back of this bar may break and if it does, I may hold this position over the weekend.

Let's see how it goes as I have taken profit out of it twice already and am BE.
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  • #98,066
  • Jul 8, 2011 4:38am Jul 8, 2011 4:38am
worse NFP?
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  • #98,067
  • Jul 8, 2011 4:44am Jul 8, 2011 4:44am
Looks like our Daily PB has failed especially after going below the purple line @ 1.42838 .. anyway first lose this week .. cheers all .. this is on FXPro DEMO & Oanda real .. cant win all ..
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  • #98,068
  • Jul 8, 2011 4:58am Jul 8, 2011 4:58am
Pinbar isn't valid until it's broken.. at least for me.
  • #98,069
  • Jul 8, 2011 6:32am Jul 8, 2011 6:32am
thats how I saw it:
tight range asian session, open european bullish breakout, rejection @ fib 50% (this weeks down move)
dynamic break of range and fib 38% to dowside, exactly next fib-level.
but would you call the 8-h-candle (GMT+1) a pin?
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  • #98,070
  • Jul 8, 2011 7:00am Jul 8, 2011 7:00am
Quoting Danku
Looks like our Daily PB has failed especially after going below the purple line @ 1.42838 .. anyway first lose this week .. cheers all .. this is on FXPro DEMO & Oanda real .. cant win all ..
Couple of points on that pb...

first - I agree with Baggins. The pin isn't validated until the high is broken, which it never did (missed breaking by 5 pips on my feed). That is one of the reasons many here only enter on the break of the PA bar. retrace and entries on close are riskier in this way.

second we can't say it is failed until the low is broken. It certainly looks like yesterday's low will be taken out, but it hasn't just yet.
  • #98,071
  • Jul 8, 2011 10:22am Jul 8, 2011 10:22am
Red Red Wine..Great song..
have a good weekend J16 Dudes!

http://www.indianwineacademy.com/ima...Nine_Hills.jpg
  • #98,072
  • Jul 8, 2011 10:51am Jul 8, 2011 10:51am
How about this impending hourly PB off BRN on the EUJP?
The space on the left is quite roomy.
I am already in ( using a little bit of touch trade here).............
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  • #98,073
  • Jul 8, 2011 11:30am Jul 8, 2011 11:30am
Nope, bailing out. The bar did not close with a green and more importantly failed to close above 115. I had exited with a gain of 5 pips. On hindsight, the overall pic wasn't really good for long. The pb is small against the onslaught of a strong downtrend.......

Quoting ertorque
How about this impending hourly PB off BRN on the EUJP?
The space on the left is quite roomy.
I am already in ( using a little bit of touch trade here).............
  • #98,074
  • Jul 8, 2011 12:24pm Jul 8, 2011 12:24pm
Quoting ertorque
Nope, bailing out. The bar did not close with a green and more importantly failed to close above 115. I had exited with a gain of 5 pips. On hindsight, the overall pic wasn't really good for long. The pb is small against the onslaught of a strong downtrend.......
can I tell you how much this post made me smile after I read your previous post

Have a great weekend all

Mike
  • #98,075
  • Jul 8, 2011 12:43pm Jul 8, 2011 12:43pm
Quoting mbqb11
can I tell you how much this post made me smile after I read your previous post

Have a great weekend all

Mike
im still hanging on in there on the daily pinbar off the eurusd
  • #98,076
  • Jul 8, 2011 12:59pm Jul 8, 2011 12:59pm
Quoting deankenny21
im still hanging on in there on the daily pinbar off the eurusd
Hi DK, and happy Friday!

May I ask why you would still be in this, or what your trigger was to be in it in the first place? This, according to my fxpro feed is a failed pin bar, in that it broke below the bar before it ever broke above it. A large percentage of people using J16 material would not be in this as it never broke the top of the bar to trigger an entry. Dependent on your own analysis, trading style, and risk tolerance you may have taken if after the close. I was in this trade after the close of the bar with a small percentage risk, but was stopped out for a loss. In hind sight this was not close to an A+ setup, although I thought it was half decent.


Have a great weekend everyone
Price is beautiful. A repetitive method is a competitive method.
  • #98,077
  • Jul 8, 2011 1:06pm Jul 8, 2011 1:06pm
Quoting nwo-trader
Hi DK, and happy Friday!

May I ask why you would still be in this, or what your trigger was to be in it in the first place? This, according to my fxpro feed is a failed pin bar, in that it broke below the bar before it ever broke above it. A large percentage of people using J16 material would not be in this as it never broke the top of the bar to trigger an entry. Dependent on your own analysis, trading style, and risk tolerance you may have taken if after the close. I was in this trade after the close of the bar with a small percentage risk,...
i have taken trades from pinbar on close of that bar rather than waiting for a break etc
  • #98,078
  • Jul 8, 2011 1:26pm Jul 8, 2011 1:26pm
Quoting deankenny21
i have taken trades from pinbar on close of that bar rather than waiting for a break etc
Hi DK,
And that is not a problem, there is no wrong way to trade, it is whatever works for you. My intention here is/was not to be critical but just to help out. I suppose my biggest question was if you were still in this trade, is where was your stop loss placed? The typical J16 SL placement would have been right below the bar which would have stopped you out, just concerned about how much you may have risked to stay in it.

Have a good day, and great weekend, enjoy your families and this beautiful summer.
Price is beautiful. A repetitive method is a competitive method.
  • #98,079
  • Jul 8, 2011 1:34pm Jul 8, 2011 1:34pm
Quoting nwo-trader
Hi DK,
And that is not a problem, there is no wrong way to trade, it is whatever works for you. My intention here is/was not to be critical but just to help out. I suppose my biggest question was if you were still in this trade, is where was your stop loss placed? The typical J16 SL placement would have been right below the bar which would have stopped you out, just concerned about how much you may have risked to stay in it.

Have a good day, and great weekend, enjoy your families and this beautiful summer.
for the sl i took 2 things into cosideration the bottom of the bar and the triangle forming. see pic

my sl is at 1.4184 which is below the TL on the triangle.

http://i51.tinypic.com/25gchno.jpg
  • #98,080
  • Jul 8, 2011 4:29pm Jul 8, 2011 4:29pm
Quoting biDc
What do you guys think of this? Price returned to PPZ confluenced with fib along with close of a previous DBHLC.
Ugh stopped out due to tight stop. Would've been very profitable. Doesn't matter, I'm happy because it shows I am getting better at picking entries even though this is demo
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