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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

  • #121,881
  • Dec 20, 2012 10:33am Dec 20, 2012 10:33am
Quoting bullzeye
USD/CHF

pinbar is forming on a nice location, swing low and divergence...or will it test the BRN 0.9000 first?
USD/CHF

i like it now...

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  • #121,882
  • Dec 20, 2012 10:37am Dec 20, 2012 10:37am
Quoting bullzeye
USD/CHF

i like it now...

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It looks promising. It would be nice to get strong close above yesterday high. There is a lot of demand at those levels.
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  • #121,883
  • Dec 20, 2012 10:43am Dec 20, 2012 10:43am
Quoting Greenhaze
It looks promising. It would be nice to get strong close above yesterday high.
CAD/CHF

look on that one as well...

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  • #121,884
  • Dec 20, 2012 12:58pm Dec 20, 2012 12:58pm
Hi guys!

Today in the morning when I saw those PBs (EUR/USD, GBP/USD, USD/CHF and more important Dollar index's PB) I thought: "Well it's gonna be nice end of the year..." Of course. Entered. Of course, as they were rising against "my" way, I spent whole day sitting in front of the monitor.. While did not close them. Of course with a loss. After this I got something like an enlightening in my mind which I think is a kind of opening for me. But this post fortunately is not about me, but about those noses!!!!

Guys please, could you reveal for me why the price did so big retrace?

In case of EUR/USD I found some pretty strong support level (confluence of 78.6% + RN 1.3170 + DIV). But it was AFTER

OMG this thread opens my eyes. Thanks to ALL of you!

As always will be very appreciated to critics/comments.

P.S. USD/CHF's PB is very tiny, agree.

Thanks,
Nick
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  • #121,885
  • Dec 20, 2012 1:51pm Dec 20, 2012 1:51pm
Quoting Nick1
Hi guys!

Today in the morning when I saw those PBs (EUR/USD, GBP/USD, USD/CHF and more important Dollar index's PB) I thought: "Well it's gonna be nice end of the year..." Of course. Entered. Of course, as they were rising against "my" way, I spent whole day sitting in front of the monitor.. While did not close them. Of course with a loss. After this I got something like an enlightening in my mind which I think is a kind of opening for me. But this post fortunately is not about me, but about those noses!!!!

Guys please, could...
Hey Nick,

i don't really get your point here, whats your problem mate? Price is always retrace of big levels ....Did you get excited about the beautifully bars, well welcome in the club of "PA-Lovers", we all love this bars ...Now there gets the things what separate the good traders of the losers, do you know the things?

P.S. why did you get losses? usually we get place our stop above/beyond the PA-Bar, off course you followed your RM

BTW. drink more horillka
  • #121,886
  • Dec 20, 2012 2:32pm Dec 20, 2012 2:32pm
There are different ways to play the bar. These are just some of them:

- short it on the break
- short it on the retrace
- find lower timeframe entry

Same goes for the stop placement.

The key to that is IMO the understanding of the important levels that might help during the entry and trade management.
I would choose GU out of those three pairs and the third option for trade management (the major level there should be drawn on the wicks):
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  • #121,887
  • Dec 20, 2012 3:24pm Dec 20, 2012 3:24pm
My eurpln is going nice (250 pips or so)...I'm also watching audcad...
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  • #121,888
  • Dec 20, 2012 3:41pm Dec 20, 2012 3:41pm
Quoting Nick1
As always will be very appreciated to critics/comments.
When I see a daily pin bar I want to get in at the best price possible so there's no harm waiting for the retracement (since they usually do). It makes for a better entry with far greater risk / reward and you're not sat through uncomfortable drawdown.

I'm in a good situation with this trade since I got tight entries and have a hedged buy locked in from lower down. All at break even so it doesn't matter which way it breaks.
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  • #121,889
  • Dec 21, 2012 1:12am Dec 21, 2012 1:12am
Quoting bullzeye
Hey Nick,

i don't really get your point here, whats your problem mate? Price is always retrace of big levels ....Did you get excited about the beautifully bars, well welcome in the club of "PA-Lovers", we all love this bars ...Now there gets the things what separate the good traders of the losers, do you know the things?

P.S. why did you get losses? usually we get place our stop above/beyond the PA-Bar, off course you followed your RM

BTW. drink more horillka
Hey Bullzeye! Always like your comments. Thanks you, sir.

"P.S. why did you get losses?" - I read somewhere in this thread that if price retraces more that 61.8 Fib of a nose of a PB it better to close order. That how I did. Now we see a situation is turned "right" way.

Thanks all of you guys Bullzeye, C-12, Greenhaze.

P.S. B, what is it "RM"?
  • #121,890
  • Edited 3:39am Dec 21, 2012 3:16am | Edited 3:39am
This is interesting, let's see if the weekly bar gets rejected by the level and the confluence.
Or if it breaks through. I suspect the latter.

EDIT: Just from an observation viewpoint, it is too close to the holidays for trading but, that does not stop us watching &, learning from it.
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  • #121,891
  • Dec 21, 2012 4:06am Dec 21, 2012 4:06am
Quoting rafstraszek
My eurpln is going nice (250 pips or so)...I'm also watching audcad...
Nice charts raf,
I have managed to join this EURPLN, as well
  • #121,892
  • Dec 21, 2012 6:32am Dec 21, 2012 6:32am
Quoting Nick1
Hi guys!

Today in the morning when I saw those PBs (EUR/USD, GBP/USD, USD/CHF and more important Dollar index's PB) I thought: "Well it's gonna be nice end of the year..." Of course. Entered. Of course, as they were rising against "my" way, I spent whole day sitting in front of the monitor.. While did not close them. Of course with a loss. After this I got something like an enlightening in my mind which I think is a kind of opening for me. But this post fortunately is not about me, but about those noses!!!!

Guys please, could you...
Hi Nick,

My GBP/USD and EUR/USD have just started to move, even though I have been waiting a few days! Did you set your stop losses above the nose of the pinbars. If so, you would still have been in the trades.

Glynn
"Fail to prepare, prepare to fail."
  • #121,893
  • Dec 21, 2012 6:47am Dec 21, 2012 6:47am
Quoting Rust
Nice charts raf,
I have managed to join this EURPLN, as well
Thanks and good luck - i'm a little worried about 4.05 lvl, it would be great if price managed to close below it...

But maybe we'll get today big eurnzd pinbar ;p or we'll see breakout soon...
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  • #121,894
  • Dec 21, 2012 6:52am Dec 21, 2012 6:52am
Quoting packhorse
Hi Nick,

My GBP/USD and EUR/USD have just started to move, even though I have been waiting a few days! Did you set your stop losses above the nose of the pinbars. If so, you would still have been in the trades.

Glynn
I'm also in gbpusd - It is finally moving in our direction

Sometimes patience is essential to stay in trade (which you analyzed before as a good opportunity), when it is moving against you...
Of course we can't also be too stubborn and stay in trade against everything - when we can clearly see, that situation has changed...
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  • #121,895
  • Dec 21, 2012 9:03am Dec 21, 2012 9:03am
Quoting rafstraszek
I'm also in gbpusd - It is finally moving in our direction

Sometimes patience is essential to stay in trade (which you analyzed before as a good opportunity), when it is moving against you...
Of course we can't also be too stubborn and stay in trade against everything - when we can clearly see, that situation has changed...
Let's hope it continues to move in our direction. There is still the possibility that price will turn around and head for the hills.
  • #121,896
  • Dec 21, 2012 10:04am Dec 21, 2012 10:04am
Quoting bullzeye
GBP/USD

triple top? a bearish pin would be nice ...
GBP/USD

nice move, target hit, the holidays are saved...

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  • #121,897
  • Dec 21, 2012 10:10am Dec 21, 2012 10:10am
NZD/CHF

hit a huge support area, H4 pin , nothing falls like a rock without retrace (specially in forex)

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  • #121,898
  • Dec 21, 2012 10:11am Dec 21, 2012 10:11am
Quoting bullzeye
GBP/USD

nice move, target hit, the holidays are saved...

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Merry Christmas.
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  • #121,899
  • Dec 21, 2012 10:14am Dec 21, 2012 10:14am
Quoting C-12
Merry Christmas.
nice C don't forget to banked your profits
  • #121,900
  • Dec 21, 2012 10:19am Dec 21, 2012 10:19am
GBP/NZD

just like a present under the three...

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