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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

  • #121,841
  • Dec 19, 2012 8:46am Dec 19, 2012 8:46am
Hi there

here is an example of Simple Price action trading. AUDUSD daily chart

This trade is still running since 13 Dic,current profit is +58 pips.It’s a simple setup,we have a down trendline on Daily and Weekly,and we have 2-3 daily candles clearly showing a bearish bias.. My Entry and Take Profit are shown on the chart,my SL is now very close to the price.

No stress,happy pips.

http://mytradesontheblog.files.wordp...ips.gif?w=1176
Account deleted
  • #121,842
  • Dec 19, 2012 9:22am Dec 19, 2012 9:22am
Quoting Mav13
Hi Mike,
yesterday I saw two possible trades on EURCAD and on CADCHF. Here is what I saw.
Eurcad: I liked size of the BUOB and it closed above the horizontal line so I considered this as breakout trade (although there was no retest on H4 or H1 timeframe)
Cadchf: Again good size of the BEOB and it closed below the horizontal line, so again I considered this as breakout trade

In the end I didn´t take any of those trades because when I look to the left I see that price had some serious trouble in these areas before (I marked this with yellow...
Hey Mav

Yes a eur/cad cad/chf offered good opportunities. I actually settled on the cad/chf myself and looked for a quick take profit. Since the box is clear that is good but it could have been better englufing more bars especially for continuations. This is why continuations should be learned after traditional reversal bars. It takes a deeper understanding of where price is going and what is going on in my mind. I think your charts(except gbp/chf I am not as big of a fan of) are very good.

I took profit just shy of 9200 myself the next round number and had a very tight stop. Once price broke I moved my stop above the current bar high.

Best
Mike
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  • #121,843
  • Dec 19, 2012 11:41am Dec 19, 2012 11:41am
Hey Mike

What do you think about GBPJPY?
  • #121,844
  • Dec 19, 2012 11:43am Dec 19, 2012 11:43am
Quoting long2339
Hey Mike

What do you think about GBPJPY?
just watching this myself L

Best
Mike
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  • #121,845
  • Dec 19, 2012 12:06pm Dec 19, 2012 12:06pm
GBP/USD

triple top? a bearish pin would be nice ...
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  • #121,846
  • Dec 19, 2012 12:09pm Dec 19, 2012 12:09pm
USD/CHF

pinbar is forming on a nice location, swing low and divergence...or will it test the BRN 0.9000 first?
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  • #121,847
  • Dec 19, 2012 12:23pm Dec 19, 2012 12:23pm
EUR/GBP

strong resistance, pin is forming, divergence as well...entered after H4 BEOB

[ATTACH]1102897[/ATTACH

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  • #121,848
  • Dec 19, 2012 12:30pm Dec 19, 2012 12:30pm
banked +50 from my previous AUDUSD sell

my watchlist=

sell stop on
GBPAUD
GBPUSD


and we have a nice pinbar forming on Daily AUDCHF,
on H4 TF pinbar is simply perfect

watch my chart H4 broker Ibfx

http://mytradesontheblog.files.wordp...-h4-pinbar.gif
Account deleted
  • #121,849
  • Dec 19, 2012 3:47pm Dec 19, 2012 3:47pm
This one will do for me!
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"Fail to prepare, prepare to fail."
  • #121,850
  • Dec 19, 2012 3:47pm Dec 19, 2012 3:47pm
Quoting mbqb11
just watching this myself L

Best
Mike

Thanks a lot.
  • #121,851
  • Dec 19, 2012 4:46pm Dec 19, 2012 4:46pm
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  • #121,852
  • Dec 19, 2012 5:24pm Dec 19, 2012 5:24pm
Xmas time is coming and Market will go into hibernation soon

some fundamentals from the Web...


Yen remains under pressure ahead of the BOJ I/R decision. Fiscal cliff in focus still.
Contradictory views of the fiscal cliff negotiations have the markets unsure which way to go and with conditions becoming illiquid,
the best policy seems to be to stand aside and to take another look in January.
Today sees EU PPI, US GDP, with Asia focusing on the BOJ meeting.

take care mates
Account deleted
  • #121,853
  • Dec 19, 2012 5:47pm Dec 19, 2012 5:47pm
Quoting mbqb11
Hey Mav

Yes a eur/cad cad/chf offered good opportunities. I actually settled on the cad/chf myself and looked for a quick take profit...
Hi Mike,
thanks for explanation
  • #121,854
  • Dec 19, 2012 5:52pm Dec 19, 2012 5:52pm
Quoting packhorse
This one will do for me!
I zoomed this one out to take a closer look. I ended up passing because the pin looks small compared to the upmove, and the previous high wasn't quite tested yet (missed by about 3 pips on my feed).
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  • #121,855
  • Dec 19, 2012 6:07pm Dec 19, 2012 6:07pm
Quoting Donkey
I like the close above the HCR's you mention. If Friday's high is broken there are couple of resistance zones pretty close by. That said, I have a pending long order at 1.3138.....
My long never got picked up, but price formed a small pin at the more major resistance area noted. I still like the HCR levels at 1.3126 as high probability to act as support. My long order is still in....maybe that pin will push price to that level and and the order will get filled.
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  • #121,856
  • Dec 19, 2012 6:33pm Dec 19, 2012 6:33pm
Quoting bullzeye
GBP/USD

triple top? a bearish pin would be nice ...
Hey Bullzeye

the same place)))

enjoy

Abdu
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  • #121,857
  • Dec 19, 2012 10:40pm Dec 19, 2012 10:40pm
Quoting Abdu
Also in eurnzd, closed half of position, waiting for next tp

if someone will comment, I will be glad...

many pips

Abdu
I was all over this one.
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If you can't tell what the herd is doing...you probably are the herd.
  • #121,858
  • Dec 19, 2012 11:25pm Dec 19, 2012 11:25pm
Quoting felixcattus
I was all over this one.
  • #121,859
  • Dec 19, 2012 11:37pm Dec 19, 2012 11:37pm
Quoting Abdu
From a monthly perspective the daily PB looks suspect.
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  • #121,860
  • Dec 19, 2012 11:46pm Dec 19, 2012 11:46pm
Quoting Pinbar
From a monthly perspective the daily PB looks suspect.
Hi

absolutely agree with you my friend.

Abdu
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