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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

  • #123,221
  • Feb 13, 2013 5:21am Feb 13, 2013 5:21am
Quoting Magestic
I lost that GBPUSD trade as PB triggerd. I think that it could go both ways on the news. It went against.
110 pips loss
Don't give up
  • #123,222
  • Feb 13, 2013 5:33am Feb 13, 2013 5:33am
It seems I'm not the only one who got some loss in that nasty pin.
But what did happen actually? Was it a good trade? Mike? Somebody?
It's all psychology...
  • #123,223
  • Feb 13, 2013 5:40am Feb 13, 2013 5:40am
Quoting LamerTrader
It seems I'm not the only one who got some loss in that nasty pin.
But what did happen actually? Was it a good trade? Mike? Somebody?
no you're not the only! 110 pip for me too!
  • #123,224
  • Feb 13, 2013 5:49am Feb 13, 2013 5:49am
gold looks good
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD,Daily]_2013-02-13_13-34-52.jpg Size: 81 KB
all is eternal - this is good news for people who loves bad news
  • #123,225
  • Feb 13, 2013 6:10am Feb 13, 2013 6:10am
Quoting LamerTrader
It seems I'm not the only one who got some loss in that nasty pin.
But what did happen actually? Was it a good trade? Mike? Somebody?
Hi, really sorry to hear about your loss LamerTrader (the same goes for other guys as well). I was also tempted to take this pin but the deal breaker (at least for me) was FTA (yellow line on my chart), it was just above the pin and I got burnt many times when I played situation like this so I let this one go. So in my opinion price just bounced off FTA but I´m still newbie so better wait for explanation from some of the senior members.

Mav
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 90 KB
  • #123,226
  • Feb 13, 2013 6:13am Feb 13, 2013 6:13am
Quoting LamerTrader
It seems I'm not the only one who got some loss in that nasty pin.
But what did happen actually? Was it a good trade? Mike? Somebody?
dont do this next time or think twice before at least
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSD,Weekly]_2013-02-13_13-52-55.jpg Size: 221 KB
Click to Enlarge Name: GBPUSD,Daily]_2013-02-13_14-04-45.jpg Size: 136 KB
all is eternal - this is good news for people who loves bad news
  • #123,227
  • Feb 13, 2013 6:27am Feb 13, 2013 6:27am
Quoting meshka
dont do this next time or think twice before at least
Thanks meshka

Gotta admit it was a careless stupid move. Wont happen again boss!
It's all psychology...
  • #123,228
  • Feb 13, 2013 7:07am Feb 13, 2013 7:07am
Quoting LamerTrader
It seems I'm not the only one who got some loss in that nasty pin.
But what did happen actually? Was it a good trade? Mike? Somebody?
Hey LT

Meshka showed you a good chart. There was a lot in the way of this bar in a lot of traffic fighting a larger down move. I won't be around much today but when I get a chance I will cut out my analysis from my webinar on this one for you to make up for my absence

Best
Mike
  • #123,229
  • Feb 13, 2013 7:12am Feb 13, 2013 7:12am
Quoting jc.
hey mike i was looking the same pinbar and i wanna ask you something. i know this a technical forum but how do you treat news? i mean in your post you say (and off course you're right) that if it doesn't break hard it's going to fall but knowing this were you still interested on the BOE inflation report (wich i think caused the bearish break) or you've simply ignored it?
Hey JC

I really think this one gave away what it was going to do by the setup itself, this is of course how I feel about all charts. I personally ignore all news myself. It's just a piece of information that has never added value to my trading and I think most things are built into our chart it's just up to us as traders to decipher it right(more times then we will be wrong).

I will get that video to you guys in the coming days so you can see my analysis on this one but also how (based on my previous chart on gbp/usd) that even if you decide as a trader to take that bar you need to manage your risk as well

Best
Mike
  • #123,230
  • Feb 13, 2013 7:51am Feb 13, 2013 7:51am
Quoting mbqb11
Hey LT

Meshka showed you a good chart. There was a lot in the way of this bar in a lot of traffic fighting a larger down move. I won't be around much today but when I get a chance I will cut out my analysis from my webinar on this one for you to make up for my absence

Best
Mike
here is my clip from yesterdays webinar hope it helps

http://rapidshare.com/files/30399486...aily%20pin.wmv

Best
Mike
  • #123,231
  • Feb 13, 2013 7:58am Feb 13, 2013 7:58am
Quoting mbqb11
here is my clip from yesterdays webinar hope it helps

http://rapidshare.com/files/30399486...aily%20pin.wmv

Best
Mike

for some reason i cant download it...
Attached Image (click to enlarge)
Click to Enlarge Name: cant.jpg Size: 77 KB
all is eternal - this is good news for people who loves bad news
  • #123,232
  • Feb 13, 2013 8:13am Feb 13, 2013 8:13am
Quoting meshka
for some reason i cant download it...
try now

http://rapidshare.com/files/30399486...aily%20pin.wmv
  • #123,233
  • Feb 13, 2013 8:36am Feb 13, 2013 8:36am
I didn't trade it but for educational purposes only, what's your opinion about this?
Bullish outside bar, breaking above the previous two bearish inside bars, closing above BRN 1.23.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd.png Size: 28 KB
  • #123,234
  • Feb 13, 2013 8:54am Feb 13, 2013 8:54am
Quoting mbqb11
try now

http://rapidshare.com/files/30399486...aily%20pin.wmv
Works ok now, thanks Mike.
  • #123,235
  • Feb 13, 2013 9:08am Feb 13, 2013 9:08am
So...

GBPUSD still short for me.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.jpg Size: 111 KB
  • #123,236
  • Feb 13, 2013 9:19am Feb 13, 2013 9:19am
Quoting mbqb11
try now

http://rapidshare.com/files/30399486...aily%20pin.wmv
Quoting mbqb11
Hey JC

I really think this one gave away what it was going to do by the setup itself, this is of course how I feel about all charts. I personally ignore all news myself. It's just a piece of information that has never added value to my trading and I think most things are built into our chart it's just up to us as traders to decipher it right(more times then we will be wrong).

I will get that video to you guys in the coming days so you can see my analysis on this one but also how (based on my previous chart on gbp/usd) that even if you decide as a trader to take that bar you need to manage your risk as well

Best
Mike
thank you mike!
  • #123,237
  • Edited 2:32pm Feb 13, 2013 12:17pm | Edited 2:32pm
Quoting mbqb11
here is my clip from yesterdays webinar hope it helps

http://rapidshare.com/files/30399486...aily%20pin.wmv

Best
Mike
Great video, it showed me where I made mistakes and how I could have done better even though I took it in the wrong direction. Also noticed after the fact that the pb wasn't as long as one would want it to be. Out of curiosity, what would you look to happen for a sell? You had mentioned you would like to see a BEOB, and though its not exactly one, it is rather close to one.

Goal for the day, another 30pages on the other side of this thread!
  • #123,238
  • Feb 13, 2013 1:33pm Feb 13, 2013 1:33pm
Quoting mbqb11
try now

http://rapidshare.com/files/30399486...aily%20pin.wmv
Thank you - but i couldnt download it... Same problem as meshka had.
It's all psychology...
  • #123,239
  • Feb 13, 2013 1:39pm Feb 13, 2013 1:39pm
here it is http://we.tl/GvAjdaPTVo
all is eternal - this is good news for people who loves bad news
  • #123,240
  • Feb 13, 2013 2:40pm Feb 13, 2013 2:40pm
Quoting meshka
here it is http://we.tl/GvAjdaPTVo
Thank you!
It's all psychology...
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