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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

  • #99,161
  • Jul 23, 2011 12:10pm Jul 23, 2011 12:10pm
at a certain point it is time for a change...

the j16-thread has became a part of my life. thanks to all the contributors. you know who you are.

as i am searching for investment opportunities all over the world, i think it is resepectful to the j16-thread to post them in a seperate thread.

therefore i started a thread to post my weekly charts.

you will find here:
http://www.forexfactory.com/showthre...87#post4804087

feel free to post comments...

i will cross-post one or two setups weekly here at j16 and the above thread.
meine augen sind die sterne
  • #99,162
  • Jul 23, 2011 12:54pm Jul 23, 2011 12:54pm
Quoting aserbfx
at a certain point it is time for a change...

the j16-thread has became a part of my life. thanks to all the contributors. you know who you are.

as i am searching for investment opportunities all over the world, i think it is resepectful to the j16-thread to post them in a seperate thread.

therefore i started a thread to post my weekly charts.

you will find here:
http://www.forexfactory.com/showthre...87#post4804087

feel free to post comments...

i will cross-post one or two setups weekly here at j16 and the above thread....


Who's gonna light the james16 torch in the non fx markets in this thread??!!

g.
I believe . . .
  • #99,163
  • Jul 23, 2011 1:14pm Jul 23, 2011 1:14pm
Quoting aserbfx
at a certain point it is time for a change...

the j16-thread has became a part of my life. thanks to all the contributors. you know who you are.

as i am searching for investment opportunities all over the world, i think it is resepectful to the j16-thread to post them in a seperate thread.

therefore i started a thread to post my weekly charts.

you will find here:
http://www.forexfactory.com/showthre...87#post4804087

feel free to post comments...

i will cross-post one or two setups weekly here at j16 and the above thread....
all respect to you sir for doing that - you are a hero for a simple fact that you put a comment in when India won the world cup..
Trading is a test match not a Twenty20.
  • #99,164
  • Jul 23, 2011 2:35pm Jul 23, 2011 2:35pm
Quoting ghous


Who's gonna light the james16 torch in the non fx markets in this thread??!!

g.
salam alaikum, my friend.
as i said, i will post most of the setups here as well.
no need to cry :-) ; but to be happy to spread the "truth" on ff.
meine augen sind die sterne
  • #99,165
  • Jul 23, 2011 3:23pm Jul 23, 2011 3:23pm
Nice bearish pin bar on the EurCad daily (July 22nd bar) at the resistance area near 1.3650. This pin bar has also formed near the 23.6 Fib retrace level.

I am considering taking the short tomorrow with my stop just above the tail of the pin and above the BRN at 1.3706.

However I am considering waiting for a retrace, and set a sell limit at about 1.3640 to tighten up my stop somewhat.

Any thoughts?
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  • #99,166
  • Jul 23, 2011 3:40pm Jul 23, 2011 3:40pm
Quoting sergiel
Nice bearish pin bar on the EurCad daily (July 22nd bar) at the resistance area near 1.3650. This pin bar has also formed near the 23.6 Fib retrace level.

I am considering taking the short tomorrow with my stop just above the tail of the pin and above the BRN at 1.3706.

However I am considering waiting for a retrace, and set a sell limit at about 1.3640 to tighten up my stop somewhat.

Any thoughts?
Are you comfortable shorting into this BUOB which is at the swing low, with strong close and engulfs 3 previous bars?
  • #99,167
  • Jul 23, 2011 3:49pm Jul 23, 2011 3:49pm
Quoting Adilius07
Are you comfortable shorting into this BUOB which is at the swing low, with strong close and engulfs 3 previous bars?
i agree with this good question. take a look at the relation of the bars.
it is like start a race between a mercedes sl65 amg (http://www.mercedes-amg.com/webspecial/sl65blackseries/ ; what a car!!! whoooo!!!) against a fiat uno.
meine augen sind die sterne
  • #99,168
  • Jul 23, 2011 3:54pm Jul 23, 2011 3:54pm
Very good point. To be perfectly honest I was so focused on the pin bar, resistance level and fib retrace I failed to notice the BUOB.

I am hazarding a guess that the BUOB would cause both of you to pass on this trade.
  • #99,169
  • Jul 23, 2011 3:58pm Jul 23, 2011 3:58pm
Quoting sergiel
Very good point. To be perfectly honest I was so focused on the pin bar, resistance level and fib retrace I failed to notice the BUOB.

I am hazarding a guess that the BUOB would cause both of you to pass on this trade.
Yes, I skipped the BUOB because of the level you have as Res. And I skipped the PB because of the BUOB. We don't know if that PB is a true selling or just a quick reaction to the resistance and price will go to have a second try (BUOB still in play). To me looks more as we are going to try to test the Res again, so I put more weight on BUOB.

Any doubt, better skip it
  • #99,170
  • Jul 23, 2011 4:03pm Jul 23, 2011 4:03pm
Quoting sergiel
Very good point. To be perfectly honest I was so focused on the pin bar, resistance level and fib retrace I failed to notice the BUOB.

I am hazarding a guess that the BUOB would cause both of you to pass on this trade.
i am not saying that your analysis is wrong. i just share my point of view. what supports your pinbar is the major downtrend since months. but i would give it a pass because it is to risky for me. better to spend your money on this amg. shit, i am in love:
Inserted Video

just 300.000 euro and it is yours... :-) min.2:12 hihihi
meine augen sind die sterne
  • #99,171
  • Jul 23, 2011 4:04pm Jul 23, 2011 4:04pm
Quoting Milton
Why did you place a sell limit at 113.55? What exactly was the PA?
I took it as a touch trade with less risk. Set an alert for when price hit my order so I would wake up to monitor it. Moved to b/e when I was +30.
  • #99,172
  • Jul 23, 2011 4:04pm Jul 23, 2011 4:04pm
Thank you very much for the feedback both of you, I really appreciate it. And thank you to james16 your free guest material and this thread, it is pure gold.

I have been dabbling in forex for almost 6 years now, and for the first time I feel like I am truly making some headway.
  • #99,173
  • Jul 23, 2011 7:44pm Jul 23, 2011 7:44pm
Quoting Adilius07
Yes, I skipped the BUOB because of the level you have as Res. And I skipped the PB because of the BUOB. We don't know if that PB is a true selling or just a quick reaction to the resistance and price will go to have a second try (BUOB still in play). To me looks more as we are going to try to test the Res again, so I put more weight on BUOB.

Any doubt, better skip it
Hope you're right Adi. I'm long the BUOB. I entered on the break (chart 1) and reduced some risk very quickly (chart 2)because of the Resistance at 1.3650 - which I had as FTA - and I'm not willing to take a full R loss after FTA was hit. I don't like the Friday PB and was looking for a close above 1.3650 -1.3700, but my position is still open as I believe 1.3500 will still hold as support.
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  • #99,174
  • Jul 23, 2011 7:52pm Jul 23, 2011 7:52pm
it seems NOT good .maybe i should close my orders on monday .
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A chart helps those who can read it.
  • #99,175
  • Jul 23, 2011 10:26pm Jul 23, 2011 10:26pm
Quoting geniusztc
it seems NOT good .maybe i should close my orders on monday .
That's a problem you'll always face trading near the Friday close.

Your trade wasn't only vulnerable to thin volumes for all that was left of Friday, its also vulnerable to gaps and thin volumes on Money open.

Clearly I would never want to hold my intra day trades over the weekend unless I was well protected and/or comfortably in the green. taking a trade near Friday close is out of question.

BTW what prompted you to go long? I don't see you taking the break of the BUOB nor a retracement of it?



g.
I believe . . .
  • #99,176
  • Jul 24, 2011 1:25am Jul 24, 2011 1:25am
Quoting geniusztc
it seems NOT good .maybe i should close my orders on monday .
USDCAD look OK on Daily to go bullish or am I being naive?

But then USDCAD Weekly gives off bearish vibes Confused... so I better stay out of it
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  • #99,177
  • Jul 24, 2011 6:04am Jul 24, 2011 6:04am
July 11-17
1 trade - 1 win 100 pips risked - 85 gained.
Trading is a test match not a Twenty20.
  • #99,178
  • Jul 24, 2011 6:31am Jul 24, 2011 6:31am
Quoting geniusztc
it seems NOT good .maybe i should close my orders on monday .
seriously..where was ur target? you made 70-80 pips but didnt bank any? ....
Hero calls followed by margin calls...
  • #99,179
  • Jul 24, 2011 6:31am Jul 24, 2011 6:31am
Quoting decentchap
July 11-17
1 trade - 1 win 100 pips risked - 85 gained.
well good...but who cares?

post a chart and show us your tradesetup....
Hero calls followed by margin calls...
  • #99,180
  • Jul 24, 2011 6:33am Jul 24, 2011 6:33am
Quoting aserbfx
at a certain point it is time for a change...

the j16-thread has became a part of my life. thanks to all the contributors. you know who you are.

as i am searching for investment opportunities all over the world, i think it is resepectful to the j16-thread to post them in a seperate thread.

therefore i started a thread to post my weekly charts.

you will find here:
http://www.forexfactory.com/showthre...87#post4804087

feel free to post comments...

i will cross-post one or two setups weekly here at j16 and...
Hero calls followed by margin calls...
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