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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

  • #112,541
  • Edited 6:14pm Jun 1, 2012 8:43am | Edited 6:14pm
Quoting Donkey
Momentums to the downside and seems strong. I'm watching that level and would prefer to see the weekly close below it and come back for a retest next week....lots of space to run if it breaks it. As always with these levels though, I'm currently expecting support until the close shows otherwise. Nice chart Pin.

Yes, I agree even though, I would love to see the JPY strengthen to 77 or so in the next 2 months. For personal finance reasons only. LOL

Looking like a PB in the making.
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  • #112,542
  • Jun 1, 2012 8:43am Jun 1, 2012 8:43am
we have some MAJOR pinbars forming on JPY and USD pairs...
  • #112,543
  • Jun 1, 2012 8:46am Jun 1, 2012 8:46am
well today is turning point. at least for sometime. USD bulls time ending, bears are ready to fight back
all is eternal - this is good news for people who loves bad news
  • #112,544
  • Jun 1, 2012 8:52am Jun 1, 2012 8:52am
Quoting fascist
we have some MAJOR pinbars forming on JPY and USD pairs...
I am looking at potential YUMMY gbpjpy daily pin from 120 BRN... we need just close little higher... and it will close.. all guys are selling $$$ now... good time to trade.
all is eternal - this is good news for people who loves bad news
  • #112,545
  • Jun 1, 2012 8:58am Jun 1, 2012 8:58am
Quoting meshka
I am looking at potential YUMMY gbpjpy daily pin from 120 BRN... we need just close little higher... and it will close.. all guys are selling $$$ now... good time to trade.
that is IF it closes at that level. we'll have to see how it goes. but it seems the pair is rejected off 120 for now..hope it closes above 120 by day's end.
  • #112,546
  • Jun 1, 2012 9:03am Jun 1, 2012 9:03am
Quoting fascist
that is IF it closes at that level. we'll have to see how it goes. but it seems the pair is rejected off 120 for now..hope it closes above 120 by day's end.
believe me it will close look at the gold
all is eternal - this is good news for people who loves bad news
  • #112,547
  • Jun 1, 2012 9:11am Jun 1, 2012 9:11am
Quoting cold chisel
I tried, nothing. It doesn't work. In my case it says "an old version" in that space in the right corner and doesn't react to any server manipulation.
I'll have to manualy reinstall everything, which means no weekend for me. All data will be lost for some 30 + pairs.
If you Run as administrator It will give you the update you need if it isn't doing it automatically)
  • #112,548
  • Jun 1, 2012 9:24am Jun 1, 2012 9:24am
is anyone like really sleep deprived but yet you feel amazingly blissful, beyond anything you have felt before?
  • #112,549
  • Jun 1, 2012 9:25am Jun 1, 2012 9:25am
First time I trade gold and I get over 400 pips from the market in just over an hour :s

I just got 25% on my acocunt for peanut risk...

Now I know what my favourite trading instrument is given my impatience.

-H
  • #112,550
  • Jun 1, 2012 9:41am Jun 1, 2012 9:41am
Quoting Variance
is anyone like really sleep deprived but yet you feel amazingly blissful, beyond anything you have felt before?
Yes, when you are sleep deprived septic acid starts building up in your brain and your opiate receptors start acting up to counter that. Hence you feel joyful.
  • #112,551
  • Jun 1, 2012 9:56am Jun 1, 2012 9:56am
Quoting goldfish3
First time I trade gold and I get over 400 pips from the market in just over an hour :s

I just got 25% on my acocunt for peanut risk...

Now I know what my favourite trading instrument is given my impatience.

-H
lol nice trade, seems like everyone is buying gold due to the jobs report. Gold might be heading a good amount higher if it can get above the 1620 level.

http://www.marketwatch.com/story/us-...ort-2012-06-01
  • #112,552
  • Jun 1, 2012 11:14am Jun 1, 2012 11:14am
Quoting goldfish3
First time I trade gold and I get over 400 pips from the market in just over an hour :s

I just got 25% on my acocunt for peanut risk...

Now I know what my favourite trading instrument is given my impatience.

-H
Gold is a great one to trade. Really moves fast and can make a lot of money there. If i had to pick one thing to trade it'd be that. on your trade m8, i love hearing that.
  • #112,553
  • Jun 1, 2012 11:45am Jun 1, 2012 11:45am
Hello everyone.
My first post here.
Thanks to everybody.
Reading the whole thread from the beginning, on page 200, now I`d like to share some charts.

I am on demo now, first one – BUOB on EURUSD.
Yellow – entry, Red – SL, Green – first TP.
Of course, I`ll wait for close.
Plz comment and I`ll continue



http://www.forexfactory.com/attachme...1&d=1338568760
  • #112,554
  • Jun 1, 2012 11:51am Jun 1, 2012 11:51am
Quoting Donkey
Momentums to the downside and seems strong. I'm watching that level and would prefer to see the weekly close below it and come back for a retest next week....lots of space to run if it breaks it. As always with these levels though, I'm currently expecting support until the close shows otherwise. Nice chart Pin.
Hey D,

Just wondering. Say there's a weekly close below that LCS level and a daily bar is retesting that level next week. Would it be all right to trade off that way or is it better to wait for a weekly retest instead.

Regards

Caesar
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #112,555
  • Jun 1, 2012 11:55am Jun 1, 2012 11:55am
Pin on AUDUSD
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  • #112,556
  • Edited 12:15pm Jun 1, 2012 11:57am | Edited 12:15pm
guys, will be pleased for all comments.

sorry for my english, it`s not my mother tongue and I had no practice for a long time.

upd: guys, i posted more charts.
did I break any rules and moderator deleted them?
  • #112,557
  • Jun 1, 2012 12:29pm Jun 1, 2012 12:29pm
Quoting AlwaysNovice
Hello everyone.
My first post here.
Thanks to everybody.
Reading the whole thread from the beginning, on page 200, now I`d like to share some charts.

I am on demo now, first one – BUOB on EURUSD.
Yellow – entry, Red – SL, Green – first TP.
Of course, I`ll wait for close.
Plz comment and I`ll continue



http://www.forexfactory.com/attachme...1&d=1338568760
Can't see your chart Always...please try and post again!

Also it may be helpfull if you remove the grid and show the time frame and pair in the chart.

thanks
  • #112,558
  • Edited 1:06pm Jun 1, 2012 12:50pm | Edited 1:06pm
Quoting Pinbar
Yes, I agree even though, I would love to see the JPY strengthen to 177 or so in the next 2 months. For personal finance reasons only. LOL

Looking like a PB in the making.
Could very much finish as a pin...if it can finish bullish it will be A++ in my book.
1) Deep retracement
2) BRN 75.00
3) Space to FTA (77ish to me)

Now it's just gotta close.
  • #112,559
  • Jun 1, 2012 1:05pm Jun 1, 2012 1:05pm
Quoting Caesar95
Hey D,

Just wondering. Say there's a weekly close below that LCS level and a daily bar is retesting that level next week. Would it be all right to trade off that way or is it better to wait for a weekly retest instead.

Regards

Caesar
Doesn't look that's going to happen if today's candle continues to close as a pin bar, but if it did....

I generally follow jarroo's guidelines for trading these levels. In this case I would trade the pullback to the level. I personally normally TT these levels with a small buffer, but much prefer PA on 4H and Daily.

That being said, I'm considering testing a strategy of trading the first daily close below/above weekly or monthly LCS/HCR levels. I have missed some major moves the past 2 weeks (last week on EURUSD and this on EURJPY), when price didn't come all the way back to my level. I see that in jarroo's thread on the PF from other HCR/LCS students as well - price comes within a few pips of the TT entry and goes exactly where we think it will - missing the limit order. That's a risk of TT these levels though. This seems to occur mostly when weekly and monthly double/triple barrels (as pin refers to them) are breached. If I trade the close though I would have been in the move - with a bit of a wider stop.

I want to test the potential strategy pretty well though, because I've found that when my trades do trigger - my win rate is about 65% with winners averaging about 1.2R and the losers 0.3R. If I can maintain that rate for the next few years, I'll be posting from a tropical locale while enjoying a cold beer or 10.
  • #112,560
  • Jun 1, 2012 3:13pm Jun 1, 2012 3:13pm
Quoting AlwaysNovice
Pin on AUDUSD
not really a pin/not a good setup:
-close is lower than open
-very weak close
-pair is in big downtrend
-at least, close above weekly lowest close support.
no trade for me. never.
meine augen sind die sterne
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