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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

  • #122,601
  • Jan 17, 2013 1:36am Jan 17, 2013 1:36am
GBP USD
Is it time to short this baby, retest, trendline, RN...
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  • #122,602
  • Jan 17, 2013 2:46am Jan 17, 2013 2:46am
Quoting jarroo
I like the confluence up there with the trendline.

That gap was already filled.

Jim
Did not put the brakes on at all but, I think we may see some bearish pa soon.
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  • #122,603
  • Jan 17, 2013 3:25am Jan 17, 2013 3:25am
  •  Pbt
  • | Joined Sep 2010 | Status: on the way to becoming a pro. | 11 Posts
hello seniors, i have a question here, wondering if some one can answer it.
i have 2 accounts with same broker, one account in GBP, the second one is in USD. fund transfer between these 2 are free, broker will convert my funds by using the platform spot rates.

example:
GBP account fund is 10,000, USD account is 0.
1. GBPUSD rate is 1.63000, at this time i transfer all my fund in GBP account to USD account, my fund will be automatically exchange to USD 16300.
2. GBPUSD rate drop to 1.60000, this time i transfer all my fund in USD account to GBP account, my fund will be automatically exchange to GBP 10187.5.

i gained profits 187.5? is this correct? or is it going to work?
  • #122,604
  • Jan 17, 2013 3:51am Jan 17, 2013 3:51am
Quoting Pbt
hello seniors, i have a question here, wondering if some one can answer it.
i have 2 accounts with same broker, one account in GBP, the second one is in USD. fund transfer between these 2 are free, broker will convert my funds by using the platform spot rates.

example:
GBP account fund is 10,000, USD account is 0.
1. GBPUSD rate is 1.63000, at this time i transfer all my fund in GBP account to USD account, my fund will be automatically exchange to USD 16300.
2. GBPUSD rate drop to 1.60000, this time i transfer all my fund in USD account to GBP...
Try it with 1% of your account then convert it back.
That way, you will not lose much if they are actually charging you for the exchange.
  • #122,605
  • Jan 17, 2013 4:24am Jan 17, 2013 4:24am
I am keeping a tight leash on it.
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  • #122,606
  • Jan 17, 2013 8:24am Jan 17, 2013 8:24am
Hello every one ... its a long time since i posted any thing but its hard to forget souch a great bounch like you guys .

Tooday i enter Gbp/Usd on a TL retest ... i hope i didnt jump in to soon lol , but 50 ema , TL , and touch of previuse suport/resistance at 1h chart convinced me to enter a smal position with a tight stop .

Any feed back from seniors is allways wellcome
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  • #122,607
  • Jan 17, 2013 8:27am Jan 17, 2013 8:27am
GBPAUD scared me today... but seems it found its right way now... damn... USA news ahead
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all is eternal - this is good news for people who loves bad news
  • #122,608
  • Jan 17, 2013 8:46am Jan 17, 2013 8:46am
Quoting Pinbar
I am keeping a tight leash on it.
Hey Steve

I've been long from the breakout of the daily funnel pattern

I saw that pin and it helped me get to breakeven which JUST missed my stop loss. But the reason i wouldn't want to be a seller there is you are still trading back into the previous swing high as well as the box area. Notice price inability to close under the RN which lines up dead with the previous swing high. That's what puts that pin in traffic and these are the ones that get people and they hurt

Just thought I would share since it was a decision in my buy trade mgmt


Best
Mike
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  • #122,609
  • Jan 17, 2013 8:53am Jan 17, 2013 8:53am
Quoting FxPrelude
Hello every one ... its a long time since i posted any thing but its hard to forget souch a great bounch like you guys .

Tooday i enter Gbp/Usd on a TL retest ... i hope i didnt jump in to soon lol , but 50 ema , TL , and touch of previuse suport/resistance at 1h chart convinced me to enter a smal position with a tight stop .

Any feed back from seniors is allways wellcome
Fantastic

That's a great use of confluence


Mike
  • #122,610
  • Jan 17, 2013 9:34am Jan 17, 2013 9:34am
Hi All I'm back from a several visits to the state medical hotel.
The body is not yet in quite the condidtion that I'd like , the mind is getting to a stage where I'm want to start demo trading again, so naturally I logged on to James16.
Hope this year is good and lucky to all.
I have one question , My charts often dont reflect the same bars as Pinbar's and a few and others, ( seem to remember this problem from the past) it is only on the dailey where I have a problem, obviously has to do with the time setting, I will only be trading the daily and the weekly
I'm using mt4 with IBFX, but am not married to them,
What platform would be usefull for demo, and what time setting should I use, I live in south africa, but of course for comparing charts it would be best to use the same setings.
In the meantime I'm just doing the first page , as well as the long lists of posts linked from page 1
Mike
  • #122,611
  • Jan 17, 2013 9:36am Jan 17, 2013 9:36am
GBPCHF

Hit my take profit early this morning sometime. Took the touch off of a recent weekly HCR and Daily 365ema. My take profit was at a recent daily HCR and daily 150ema.

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #122,612
  • Jan 17, 2013 9:48am Jan 17, 2013 9:48am
Quoting mmikemj
Hi All I'm back from a several visits to the state medical hotel.
The body is not yet in quite the condidtion that I'd like , the mind is getting to a stage where I'm want to start demo trading again, so naturally I logged on to James16.
Hope this year is good and lucky to all.
I have one question , My charts often dont reflect the same bars as Pinbar's and a few and others, ( seem to remember this problem from the past) it is only on the dailey where I have a problem, obviously has to do with the time setting, I will only be trading the daily...
Hey Mike

Welcome back I hope all is well and you are doing ok

A lot of us use a 5pm et NY close, you could use a broker like FXpro to get that close time. Of course you will see others use later closes like IBFX. But if you want a 5pm close FXpro is a good demo for that

Best
Mike
  • #122,613
  • Jan 17, 2013 9:55am Jan 17, 2013 9:55am
Thanks Mike , will do
  • #122,614
  • Jan 17, 2013 10:23am Jan 17, 2013 10:23am
Ty Mike ... a good feedback from you means alot

Any one looking at EUR/AUD ? On weekly too me it looks like head and shoulders ... tough dont know how it will play out .
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  • #122,615
  • Jan 17, 2013 11:41am Jan 17, 2013 11:41am
Quoting mbqb11
Hey Steve

I've been long from the breakout of the daily funnel pattern

I saw that pin and it helped me get to breakeven which JUST missed my stop loss. But the reason i wouldn't want to be a seller there is you are still trading back into the previous swing high as well as the box area. Notice price inability to close under the RN which lines up dead with the previous swing high. That's what puts that pin in traffic and these are the ones that get people and they hurt

Just thought I would share since it was a decision in my buy trade mgmt


Best
Mike...
Thanks Mike

Yeah, it was going back into that swing point and the RN did not help.
It is ok as, I was not really convinced it would work out and I demoed it, just to see if that PB could bust through this area.

I actually thought the fake out was a sign that it may break down.
So, it was a fake out, fake out. LOL
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  • #122,616
  • Jan 17, 2013 1:54pm Jan 17, 2013 1:54pm
Quoting rolo1128
EURUSD

Targets hit, partial profit taken.

Attachment
And final target hit.

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #122,617
  • Jan 17, 2013 2:43pm Jan 17, 2013 2:43pm
t
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meine augen sind die sterne
  • #122,618
  • Jan 17, 2013 5:21pm Jan 17, 2013 5:21pm
EURCAD

Jarrooer's,

Any thoughts? PBT&CA.

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #122,619
  • Jan 17, 2013 5:36pm Jan 17, 2013 5:36pm
hey guys/gals

just watching usd/jpy. looking to go long.

fta that i see is at 92.00. would like it to break brn at 90 before going long but it doesn't seem to have reacted to this in the past

pinbar from a couple of days ago that was running right into past resistance at 89 but it broke through this ok.

any thoughts

hally
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Learning for Earning and Trading for Freedom
  • #122,620
  • Jan 17, 2013 5:54pm Jan 17, 2013 5:54pm
Quoting hally0301
hey guys/gals

just watching usd/jpy. looking to go long.

fta that i see is at 92.00. would like it to break brn at 90 before going long but it doesn't seem to have reacted to this in the past

pinbar from a couple of days ago that was running right into past resistance at 89 but it broke through this ok.

any thoughts

hally
Hey Hally

Be careful there really is no bar confirmation to go long here. Being the next buyer into a high can be where sellers lurk. There is actually divergence occurring and a BRN just above us. This can make a tricky area to buy into. I am watching for possible sells on a lower timeframe IF price shows us that. You can check that out in my intraday thread

Best
Mike
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