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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

  • #101,341
  • Sep 7, 2011 5:38pm Sep 7, 2011 5:38pm
have not posted here in a long time. thanks everyone for your input.

this trade is my bread and butter while im at school and internet only works once an hour fofr 5 mins.


http://i432.photobucket.com/albums/q...dun/trade1.png
  • #101,342
  • Sep 7, 2011 9:53pm Sep 7, 2011 9:53pm
Quoting Thierry
Took this trade yesterday. Nice pin, swing high, or maybe more a sideways market.
Blue area was my goal.

Took the break of the pinbar, missed this afternoom my TP with 1 pip (trading with oanda). I moved my SL to BE and we can see what happend. My SL was hit.

But i do not really care about it, my analyse was right, i knew where price was likely to go, as james try to learn us

Now read from page 6628 because of my holiday.
very nice Thierry

This is very important stuff

Best
Mike
  • #101,343
  • Sep 8, 2011 12:34am Sep 8, 2011 12:34am
My first post in this thread. I see 2 consecutive matching lows, put a sell limit of the break. Any inputs would be greatly appreciated.
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  • #101,344
  • Sep 8, 2011 12:53am Sep 8, 2011 12:53am
[quote=The7;My first post in this thread. I see 2 consecutive matching lows, put a sell limit of the break. Any inputs would be greatly appreciated.[/quote]


The7,
in theory, you are right.
however, this move happened 2 days ago, and was literally stopped on its tracks.
this could be some kind of government (SNB) intervention... i don't know, 'cos i don't really follow the news.

i will be careful with something like this
  • #101,345
  • Sep 8, 2011 1:35am Sep 8, 2011 1:35am
Quoting Nustra
The7,
in theory, you are right.
however, this move happened 2 days ago, and was literally stopped on its tracks.
this could be some kind of government (SNB) intervention... i don't know, 'cos i don't really follow the news.

i will be careful with something like this
I am guessing you right. Cancelled the order. Itching trading fingers can't wait to take a trade after reading 100's of wisely posts..
Only open trade I have is a short on Eur/Nzd on DBHLC on the daily chart..
  • #101,346
  • Sep 8, 2011 1:50am Sep 8, 2011 1:50am
Quoting Nustra
The7,
in theory, you are right.
however, this move happened 2 days ago, and was literally stopped on its tracks.
this could be some kind of government (SNB) intervention... i don't know, 'cos i don't really follow the news.

i will be careful with something like this
My first post here also....
Great Thread! Trying to learn from the Gurus here.

Yes the SNB said they wanted CHF to be at 1.2 Euro or more and that they will defend it. So Nustra you might want to reconsider your sell limit.

Jamon
  • #101,347
  • Sep 8, 2011 5:16am Sep 8, 2011 5:16am
Quoting 5.25
I second that
Different pair, different time frame, same text book principles.
(Reasons to move away from Oanda. Anyone spot the difference? )
I have account in Admiral Markets, and chart looks like from Oanda. This is not a first time. I see very often that, You had great setups, I had only chaos on a chart.
  • #101,348
  • Sep 8, 2011 5:28am Sep 8, 2011 5:28am
Quoting snowly
order flow just allows you to close almost all the wrong trades ~ at be ...
Hi Snowly, appreciate this mate. Only just got chance to read it! I like the idea of exiting a position that may have been invalidated by closing on the flip side retest.. certainly something to think about..

I wonder.. Pinbar, have you made any conclusions on using order flow?

Here's a couple of trades I'm in this week, it's been a good one... for a change

Sell AUDNZD 1.28 - Self explanitory, touch trade as it's such a strong PPZ, exited 1.27

EURCAD sell on BEOB retracement to 1.39. Bar pierced and rejected through BRN 1.4 and ascending TL, nice looking bar. Stop move will be at pink area

SG
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  • #101,349
  • Sep 8, 2011 5:31am Sep 8, 2011 5:31am
A 1 minute trade.
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  • #101,350
  • Edited 6:12am Sep 8, 2011 5:36am | Edited 6:12am
A 2 minute trade?

Pinbar, swing low, divergence. Most important, we know 1.60 BRN will act as resistance.
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  • #101,351
  • Sep 8, 2011 5:39am Sep 8, 2011 5:39am
Ofcourse, not every trade will be gold.
Took this beob, still running. Will see what happens.
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  • #101,352
  • Sep 8, 2011 5:43am Sep 8, 2011 5:43am
BEOB, most important was the broke of muliple lows.
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  • #101,353
  • Sep 8, 2011 6:35am Sep 8, 2011 6:35am
Quoting Sgrb1
EURCAD sell on BEOB retracement to 1.39. Bar pierced and rejected through BRN 1.4 and ascending TL, nice looking bar. Stop move will be at pink area

SG
Hi SG. Very nice entry on EURCAD - I'm in on a much more conservative play.

I played break of bar with initial stop above bar. Have already taken a small amount of risk off table by reducing stop. My chart looks like further managment planned in same area you noted.
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  • #101,354
  • Sep 8, 2011 7:56am Sep 8, 2011 7:56am
Quoting Donkey
Hi SG. Very nice entry on EURCAD - I'm in on a much more conservative play.

I played break of bar with initial stop above bar. Have already taken a small amount of risk off table by reducing stop. My chart looks like further managment planned in same area you noted.
Good stuff.. and we're there already, always satisfying when it reaches FTA so quickly . Where did you position your stop? I'm now just above today's high, targeting 1.37.

I feel as though I'm being a bit greedy here.. but I don't see any good reason to want to get out until ~1.37
  • #101,355
  • Sep 8, 2011 8:11am Sep 8, 2011 8:11am
I missed this because i was out for the morning, did any body else trade it?
Cheers
NTW
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No more DOH! trades
  • #101,356
  • Sep 8, 2011 8:34am Sep 8, 2011 8:34am
Quoting jamon
My first post here also....
Great Thread! Trying to learn from the Gurus here.

Yes the SNB said they wanted CHF to be at 1.2 Euro or more and that they will defend it. So Nustra you might want to reconsider your sell limit.

Jamon
welcome jamon and the7

Follow those charts, they will be your best friend

Here is another TBL

Now though check out when you have multiple bar lows and highs in a row on a daily/weekly chart. They are some of my favorite easy plays

Best
Mike
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  • #101,357
  • Edited 8:54am Sep 8, 2011 8:39am | Edited 8:54am
Quoting nonethewisa
I missed this because i was out for the morning, did any body else trade it?
Cheers
NTW
opened yesterday, but not on the pin(chance of UK new qe this month was nil and well... euro is euro).

otherwise, trading the pin would've been dubious if you're trading purely technically. You're trading a bar 3h before major announcements on both currencies which doesn't have much with technical analysis.

it's news trading, not technical trading.

And you should have a clear idea on such circumstances since sl is hard(or you'll have to put it very wide), due to volatility, so you have to understand exactly what's said and if it's a case of closing because something changed or it's only noise.
  • #101,358
  • Sep 8, 2011 8:55am Sep 8, 2011 8:55am
Entered short via DBHLC, +104 pips and counting. Closed half of position, free trade now.
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  • #101,359
  • Sep 8, 2011 9:09am Sep 8, 2011 9:09am
Quoting snowly
opened yesterday, but not on the pin(chance of UK new qe this month was nil and well... euro is euro).

otherwise, trading the pin would've been dubious if you're trading purely technically. You're trading a bar 3h before major announcements on both currencies which doesn't have much with technical analysis.

it's news trading, not technical trading.

And you should have a clear idea on such circumstances since sl is hard(or you'll have to put it very wide), due to volatility, so you have to understand exactly what's said and if it's a case of...

I take your point about trading the news, its something i try to keep an eye on.
No more DOH! trades
  • #101,360
  • Sep 8, 2011 9:30am Sep 8, 2011 9:30am
Hey Mike,

Can you please help me out. I went long on the inside bar from yesterday on the Eur/Usd. I cant post charts since I am at work but I just check on my phone and it went straight down. It seemed like a decent trade, inside bar at a triple bottom. I only lost 50 pips but nonetheless I did not expect it to go against me like that. I can also only trade once a day so I couldn't wait for the break of the bar before entering. Thanks in advance for your time. I would post this in the PF but you seem to be active here.

Thanks
Tod
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