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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

  • #115,881
  • Aug 21, 2012 4:53am Aug 21, 2012 4:53am
Quoting Chanya
Suffered a 27 pips loss on AUD USD trade I took yesterday ... It was really nice trade ... Tons to support my trade was present ... But I guess this loss was unavoidable ...
Where was the stop loss?
  • #115,882
  • Aug 21, 2012 4:56am Aug 21, 2012 4:56am
Quoting C-12
Where was the stop loss?
I manually closed it when yesterdays candle went back to close within the zone of those levels ...
Human
  • #115,883
  • Aug 21, 2012 5:02am Aug 21, 2012 5:02am
Quoting Chanya
I manually closed it when yesterdays candle went back to close within the zone of those levels ...
I see. I took a short today off the H4 / H1 supply area, although I can see price broke to the upside through a down channel.

Watching the USDX closely here.
  • #115,884
  • Aug 21, 2012 5:22am Aug 21, 2012 5:22am
Quoting rafstraszek
Nice indeed - I'm waiting for close above, but short would be nice too...
But long - lot of space and breaking out of this triangle consolidation

cheers
It didn't close under 1.575. So it's your trade now... Be careful you're hitting the EMA365 on the daily chart
  • #115,885
  • Aug 21, 2012 5:25am Aug 21, 2012 5:25am
Pitka setup in consolidation. Will be pitka strong enough to do it's magic through this range?! I believe so, because pitka is strong setup
Wish me joy

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  • #115,886
  • Aug 21, 2012 5:42am Aug 21, 2012 5:42am
Quoting bullzeye
USD/CAD

last and final position...my target is near, so my SL is also tight

Attachment
USD/CAD

add another position after yesterday`s IB. Well, holding this for days...and i am stay a lil longer, the trend seems strong enough to me to break the 0.9800 area.

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  • #115,887
  • Aug 21, 2012 5:43am Aug 21, 2012 5:43am
Did some nice trades today. Back to basic, simple PA + confluence.
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  • #115,888
  • Aug 21, 2012 5:54am Aug 21, 2012 5:54am
Quoting mbqb11
Hey Yehuda

Not really enough information here for me. Price trending strongly down so this is nothing more then a pause. If price breaks up we know where it is likely to go(see chart). If it breaks down it is trading into a bit more support very close by.

Best
Mike
Here is an updated chart Y, notice right where price is bouncing on the Break up. Now it/s a matter if buyers want to come back in but we knew where price was likely to go

Best
Mike
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  • #115,889
  • Aug 21, 2012 6:02am Aug 21, 2012 6:02am
Audchf finally fired up Maybe I get nice profit from it? I was worried that it's gonna end up like audusd...I was believing in that trade (audusd) so much, that I was entering 3 times 2xBE and small lose...never gonna do sth like this again - market don't care about my believes
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  • #115,890
  • Aug 21, 2012 6:05am Aug 21, 2012 6:05am
Quoting Rust
Pitka setup in consolidation. Will be pitka strong enough to do it's magic through this range?! I believe so, because pitka is strong setup
Wish me joy

Attachment
Pitka don't lie Is this a beautiful quick drop or what. Some nice profit in the bank

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  • #115,891
  • Aug 21, 2012 6:08am Aug 21, 2012 6:08am
Quoting Forexgogo
It didn't close under 1.575. So it's your trade now... Be careful you're hitting the EMA365 on the daily chart
I don't use emas, but thanks for warning
I'll probably be BE by then, so no need to worry

take care
  • #115,892
  • Aug 21, 2012 6:15am Aug 21, 2012 6:15am
Quoting Elena MS
http://savepic.net/3289350m.gif
http://savepic.net/3280134m.gif


Hi all,
On the 4 hour chart GBPNZD pinbar formed. I opened a small volume of long positions . If the price falls below closer to the level of PPZ, the volume of the long position will increase. Stop below 1.9220. What do you think?

Sorry for my English is not my native language
Hey Elena

When we see and use a pinbar formation. Our stop should go below that bar. When we take a pinbar that should be our belief that that pinbar is going to hold us up. If it gets below the pinbar then our belief was wrong. By putting your stop so far, and also adding it sort of negates the whole idea of use PA to find and manage our trades. So the buy limit and the pin should be two separate ideas in my eyes and the pinbar if you believe is a good one should be traded and your stop should not be so far away from the low.

Best
Mike
  • #115,893
  • Aug 21, 2012 6:17am Aug 21, 2012 6:17am
Quoting Thierry
Did some nice trades today. Back to basic, simple PA + confluence.
great Box trading right there T, very nice


Mike
  • #115,894
  • Aug 21, 2012 6:24am Aug 21, 2012 6:24am
Quoting rafstraszek
Audchf finally fired up Maybe I get nice profit from it? I was worried that it's gonna end up like audusd...I was believing in that trade (audusd) so much, that I was entering 3 times 2xBE and small lose...never gonna do sth like this again - market don't care about my believes
Hi - this is a PBT & CB style trade? Where is your stop - and do you have a rough target in mind? cheers!
  • #115,895
  • Aug 21, 2012 6:24am Aug 21, 2012 6:24am
Quoting Chanya
Suffered a 27 pips loss on AUD USD trade I took yesterday ... It was really nice trade ... Tons to support my trade was present ... But I guess this loss was unavoidable ...
I took a 12 pip loss. Really looked short too me. Anyway looking a GBPJPY.
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  • #115,896
  • Aug 21, 2012 6:29am Aug 21, 2012 6:29am
Quoting mbqb11
Hey Elena

When we see and use a pinbar formation. Our stop should go below that bar. When we take a pinbar that should be our belief that that pinbar is going to hold us up. If it gets below the pinbar then our belief was wrong. By putting your stop so far, and also adding it sort of negates the whole idea of use PA to find and manage our trades. So the buy limit and the pin should be two separate ideas in my eyes and the pinbar if you believe is a good one should be traded and your stop should not be so far away from the low.

Best
Mike...
Thanks Mike .... I understand you.
  • #115,897
  • Aug 21, 2012 6:35am Aug 21, 2012 6:35am
Quoting Winston Reed
I took a 12 pip loss. Really looked short too me. Anyway looking a GBPJPY.
In short.
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  • #115,898
  • Aug 21, 2012 6:49am Aug 21, 2012 6:49am
Quoting S_Ferrer
Hi - this is a PBT & CB style trade? Where is your stop - and do you have a rough target in mind? cheers!
Yep,
pink - original sl (or sth like that - don't remember exactly)
orange - entry and sl now
purple - moment when move sl to be (fta)

No target in mind - trying to get as many pips as I can, I will move my sl, when price will closing below every trouble area.

cheers
  • #115,899
  • Aug 21, 2012 7:05am Aug 21, 2012 7:05am
Time to wait for the re-test...
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Many choose unhappiness over uncertainty.
  • #115,900
  • Aug 21, 2012 7:13am Aug 21, 2012 7:13am
Quoting Dan Gilbert
Time to wait for the re-test...
Was just speaking about this chart with someone.

This could be an inbetweener since a lot of time has lapsed since a touch to that top descending TL. We might see price bounce somewhere around here (BRN) confirming that TL a bit differently two because of the angle

Interesting pair right now I think price may want to dip lower once more under that swing low. Just a silly hunch though at this point
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