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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

  • #118,541
  • Sep 17, 2012 4:06am Sep 17, 2012 4:06am
hi guys...

i see a bearish divergence at daily n pinbar...

a solid reversal??

any comment are welcome...

regards.
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Peace Yo!
  • #118,542
  • Sep 17, 2012 4:43am Sep 17, 2012 4:43am
Getting Ready for a probably very nice Break out and retest trade out of consolidation area ... Best , to the down side ...

And then , once again if we return to this area , it will have become a SND zone ...
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Human
  • #118,543
  • Sep 17, 2012 5:03am Sep 17, 2012 5:03am
Entered a trade on usd/sgd 1.22355 with SL 1.22392. (Just for the record). Touched my hcr level. Let see how good I was reading the chart.
  • #118,544
  • Sep 17, 2012 5:12am Sep 17, 2012 5:12am
Quoting annu333
Entered a trade on usd/sgd 1.22355 with SL 1.22392. (Just for the record). Touched my hcr level. Let see how good I was reading the chart.
You based a trade on the HCR SOOOO far back ? Move to BE as soon as you can if real account ... If demo , do what ever you want .
Human
  • #118,545
  • Sep 17, 2012 5:27am Sep 17, 2012 5:27am
Quoting Chanya
You based a trade on the HCR SOOOO far back ? Move to BE as soon as you can if real account ... If demo , do what ever you want .
??? My risk is 0.5% its 3.7 pips thats almost BE. What to you mean sooo far back?
  • #118,546
  • Sep 17, 2012 6:06am Sep 17, 2012 6:06am
Quoting mrluckystar
hi guys...

i see a bearish divergence at daily n pinbar...

a solid reversal??

any comment are welcome...

regards.
Take a look at page 7900, 7901 (http://www.forexfactory.com/showthre...2331&page=7900) you'll find all the answers.
If not up, then down, otherwise sideways :-)
  • #118,547
  • Sep 17, 2012 6:36am Sep 17, 2012 6:36am
Hi Mike, When u have a BIG weekly PA and it matches the story for you to take it. Would u then manage it on the weekly with stops, FTA etc. or will you treat it as a bias and go look for an entry on lower TF?

stop is of course a stop, and x% is x%, no matter how many pips the stop is. but just wondering from a time perspective how you look upon it.

Thanks

Lehmann



Quoting mbqb11
Hey L

I have a pending sell on a retracement which is something a bit more advanced. You could also be looking to trade a berak of the BEOB low outside of the wedged area as well.

The BEOB is our PA


Best
Mike
  • #118,548
  • Sep 17, 2012 7:22am Sep 17, 2012 7:22am
Quoting Chanya
You based a trade on the HCR SOOOO far back ? Move to BE as soon as you can if real account ... If demo , do what ever you want .
I am in the same trade. The HCR I traded is from 4-Aug. SL is currently open though
Fall seven times, stand up Eight! #GGMU
  • #118,549
  • Sep 17, 2012 8:02am Sep 17, 2012 8:02am
I'm long in eurusd, 30+ pips for now, already on be...
Deleted untriggered cadjpy long...
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  • #118,550
  • Sep 17, 2012 8:05am Sep 17, 2012 8:05am
Quoting lehmann
Hi Mike, When u have a BIG weekly PA and it matches the story for you to take it. Would u then manage it on the weekly with stops, FTA etc. or will you treat it as a bias and go look for an entry on lower TF?

stop is of course a stop, and x% is x%, no matter how many pips the stop is. but just wondering from a time perspective how you look upon it.

Thanks

Lehmann
Hey Leh

Yes when I enter most trades they are almost always managed on the same timeframe I enter. This keeps things simple as well as keeps my story and exits relative to the same timeframe I entered

Best
Mike
  • #118,551
  • Sep 17, 2012 8:53am Sep 17, 2012 8:53am
Im in this play right now as i tend to take pin bars aggressively.

the pin bar is at Resistance and so far today the right eye is yet to break the left.

Higher time frames are so much better for good solid plays.
Jim and all PF crew thank you so much for this thread, i would be no where with out it
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Thank you J16 & Trader Dante
  • #118,552
  • Sep 17, 2012 9:08am Sep 17, 2012 9:08am
Quoting chartergas
Im in this play right now as i tend to take pin bars aggressively.

the pin bar is at Resistance and so far today the right eye is yet to break the left.

Higher time frames are so much better for good solid plays.
Jim and all PF crew thank you so much for this thread, i would be no where with out it
Be careful - we were talking about it some time ago - pin is relatively small, strong uptrend, brn and hcr just below it...
  • #118,553
  • Sep 17, 2012 9:13am Sep 17, 2012 9:13am
Quoting rafstraszek
Be careful - we were talking about it some time ago - pin is relatively small, strong uptrend, brn and hcr just below it...
trendline is giving way, pinbar on retracement as well
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  • #118,554
  • Sep 17, 2012 9:21am Sep 17, 2012 9:21am
Quoting mbqb11
trendline is giving way, pinbar on retracement as well
Hi Mike how would you look to enter, would you want a close below BRN and what time frame would you consider 1H, 4H or daily.
For me I think I will go with the daily and look for a retrace to the BRN and HCR
Thanks Alex
  • #118,555
  • Sep 17, 2012 9:26am Sep 17, 2012 9:26am
Hi Guys,

Just a quick question. I normally trade daily pinbars only. I am also now considering weekly trades.

When trading weekly trades, how long would you give for the trade to trigger before you would consider cancelling the trade?

Thanks
"Fail to prepare, prepare to fail."
  • #118,556
  • Sep 17, 2012 9:40am Sep 17, 2012 9:40am
Quoting mbqb11
trendline is giving way, pinbar on retracement as well
I will believe after daily close below 1.05
  • #118,557
  • Sep 17, 2012 9:59am Sep 17, 2012 9:59am
Hi Mike,

what is your opinion of GBPCAD break out the consolidation box on D1,
Is that the valid break out to entry long..... ??? any advise J16 thx

thxs
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  • #118,558
  • Sep 17, 2012 10:56am Sep 17, 2012 10:56am
Quoting Magestic
My 2 cents.
I agree, and looking at the weekly chart on AUDUSD we're working on a PBT&CA on last week's bar and the trend long is still looking strong at this point. I can see this running down to the 1.0450 area before resuming the uptrend and heading back to the 1.0600 level and possibly breaking higher.

I trade almost exclusively off the weekly charts, so I may be biased here.
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  • #118,559
  • Edited 11:22am Sep 17, 2012 11:03am | Edited 11:22am
Quoting packhorse
Hi Guys,

Just a quick question. I normally trade daily pinbars only. I am also now considering weekly trades.

When trading weekly trades, how long would you give for the trade to trigger before you would consider cancelling the trade?

Thanks
Hi Packhorse. I trade weekly charts almost exclusively, and I often set my trades up on Sunday. I usually give those trades the whole week to trigger unless something happens to invalidate the setup.

It's all relative. You have to be patient when dealing with weekly charts and let the setup play out. If you're looking at a weekly chart it makes sense to let the whole weekly candle work itself out before you give up on it.

Just my thoughts, the more experienced here might have different ideas.
  • #118,560
  • Sep 17, 2012 11:03am Sep 17, 2012 11:03am
Quoting fabx
Hi Mike how would you look to enter, would you want a close below BRN and what time frame would you consider 1H, 4H or daily.
For me I think I will go with the daily and look for a retrace to the BRN and HCR
Thanks Alex
Hey FaB

Technically you can sell that pinbar as a breakout + retrace to a pattern. I prefer to have a close below the BRN with PA. I instead used the break of that TL to help with a touch trade I played on the euro. I sold a retest of fridays high as I explained here

Quoting mbqb11
yep for sure C

A good sell is something like selling the euro at Fridays high(at/near it) with a real tight stop say above 1.32O(using the round number as protection if its a protected level). It's a pretty aggressive trade but in a market like this a risk of say .25% and you could get a run back to 1.3 pretty easy if the buys all start to jump ship/stops hit etc.

Of course this would be an aggressive trade idea but the market is at a pretty important level(at least for a retrace). If not looks like 1.35 is in the works(now or after the...
Since the markets are so technically in sync right now it is in my belief that when USD gets strong again that it will across the board. Aud/usd being a bit ahead of the curve possibly.


Best
Mike
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