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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

  • #130,921
  • May 17, 2014 7:29am May 17, 2014 7:29am
Quoting Donkey
{quote} Nice charts Dan. Mine look very similar for both pairs. Did you hold your EJ short through the weekend? I would watch that cluster of lows between the 2nd and 3rd touches of the rising TL on your chart as an area to expect some sort of reaction...it was strong support in the not too distance past.
Hey Donkey,

Sorry I missed your post.

I did decide to hold the position over the weekend. I realised that its not so much about trade management and more a fear of not being right (and trusting my own setups). The more I trade the more I realise there is a huge psychological aspect to it.

Take care
Dan
  • #130,922
  • May 17, 2014 9:33am May 17, 2014 9:33am
Hey there,

USD/CHF has also formed a decent pin bar
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  • #130,923
  • May 17, 2014 10:11am May 17, 2014 10:11am
Quoting farshidtt
Hey there, USD/CHF has also formed a decent pin bar {image}
Maybe there will be opportunity to enter much higher, around your blue line with very small risk.
Lose small, win BIG
  • #130,924
  • May 17, 2014 11:38am May 17, 2014 11:38am
Quoting farshidtt
Hey there, USD/CHF has also formed a decent pin bar {image}
Hey Farshidtt,

Thought I would just post my own thoughts on this particular pair.
Your chart seems a little zoomed in which can make PA bars look better then they actually are. However this does not mean that a pinbar like that wont work out. For me its about picking the most reliable setups.

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Take care
Dan
  • #130,925
  • Edited 1:58pm May 17, 2014 1:55pm | Edited 1:58pm
Thanks dan89 and ProsteJa. nice points to consider.

the thing that made me look closely at this pair is its high negative correlation with EUR/USD which is showing an obvious bullish pin bar around support and round number 1.3700
  • #130,926
  • May 18, 2014 9:01am May 18, 2014 9:01am
USDCHF Observation

Price will be turning down soon and the safest target I can observe is .8870. A break of .8870 will have me looking toward .8847 for some additional profit. I am not in a trade yet but soon will be. Looking for some good old fashioned J16 H1 setups possibly London session for entry. Best of luck to all.

K.I.S.S.
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  • #130,927
  • May 18, 2014 12:14pm May 18, 2014 12:14pm
Quoting KissFan
USDCHF Observation Price will be turning down soon and the safest target I can observe is .8870. A break of .8870 will have me looking toward .8847 for some additional profit. I am not in a trade yet but soon will be. Looking for some good old fashioned J16 H1 setups possibly London session for entry. Best of luck to all. K.I.S.S. {image}
not convinced so i'm on the sidelines but we had a weak closing bar(wick play) as price closed outside the channel. These like to fill, 9000 is a strong pivot might be the better area to watch.

Had the euro closed the same way I would have bought the usd/chf or sold the euro through the "wick"

Hope all is well Kiss

Mike
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  • #130,928
  • May 18, 2014 1:12pm May 18, 2014 1:12pm
Thanks for your view Fudd! My schedule has allowed me to attend the last couple of your webinars. Great stuff bro! While I'll be short for a bit as I described, that strong move off of 8700 leads me to believe that 9000 will be a sooner destination than 8700 will be again. DXY is beginning to show signs of life after a long beat down. All is god friend!

K.I.S.S.
  • #130,929
  • May 18, 2014 2:03pm May 18, 2014 2:03pm
Quoting dan89
{quote} Hey Farshidtt, Thought I would just post my own thoughts on this particular pair. Your chart seems a little zoomed in which can make PA bars look better then they actually are. However this does not mean that a pinbar like that wont work out. For me its about picking the most reliable setups. {image} Take care Dan
I didnt see the chart the same way as Mike

Similar situation though

Take care
Dan
  • #130,930
  • May 18, 2014 2:13pm May 18, 2014 2:13pm
Quoting dan89
{quote} I didnt see the chart the same way as Mike Similar situation though Take care Dan
Everybody sees charts in his own way. The fact you see it differently from Mike doesn't mean you're not right The best of luck
Lose small, win BIG
  • #130,931
  • May 18, 2014 2:23pm May 18, 2014 2:23pm
Quoting dan89
{quote} I didnt see the chart the same way as Mike Similar situation though Take care Dan
yep it's still the same thing really this is just part of the "current" situation. If that situation occurs like you i would then view it like that and we would have the BRN to help us

Patterns are all about keeping it simple. Spent over a decade learning that

Keep it up
Mike
  • #130,932
  • May 18, 2014 2:23pm May 18, 2014 2:23pm
Quoting ProsteJa
{quote} Everybody sees charts in his own way. The fact you see it differently from Mike doesn't mean you're not right The best of luck
for sure! Tons of situations and ways to apply this knowledge that's the best part of it!

Mike
  • #130,933
  • May 18, 2014 2:36pm May 18, 2014 2:36pm
Quoting mbqb11
{quote} for sure! Tons of situations and ways to apply this knowledge that's the best part of it! Mike
I see it in the same way you do but I'm not putting money in this situation. Not the best set up ever. I'll skip it.

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Adam
Lose small, win BIG
  • #130,934
  • May 18, 2014 7:46pm May 18, 2014 7:46pm
Quoting mbqb11
{quote} not convinced so i'm on the sidelines but we had a weak closing bar(wick play) as price closed outside the channel. These like to fill, 9000 is a strong pivot might be the better area to watch. Had the euro closed the same way I would have bought the usd/chf or sold the euro through the "wick" Hope all is well Kiss Mike {image}
Currently in this as a wick play. Started with my stop a little lower then usually so that I can reduce risk. Hopefully get a little more upside here.
  • #130,935
  • May 19, 2014 2:02am May 19, 2014 2:02am
Hi all,
First of all, thanks to the authors of this post. It is really awesome!
I have something you can call trader ADHD so I decided I have to trade on higher TF and learn to take better trades (A or A+ with confluence and no traffic).
Can you please take look on below chart and let me know the areas I have spotted with brown rectangles have good potential for trade if I get clean PA? In each case I provided what confluence is there.
I have also question on 7th of 4 we had what I think is clean PA with no traffic. If we get BUOB today will that be clean or three preceding candles make this messy?

Thanks in advance.
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  • #130,936
  • May 19, 2014 8:26am May 19, 2014 8:26am
Quoting james16
new chart {image}
Matching low... Yes. Why is it a continuation trade. What's the criteria
  • #130,937
  • May 19, 2014 9:57am May 19, 2014 9:57am
Quoting dan89
{quote} Further Update: Price closed below BRN and looks to continue to the downside. Marked potential areas for trade management. {image}
Update:

C'MON ..MOVE !!

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  • #130,938
  • May 19, 2014 11:39am May 19, 2014 11:39am
Quoting dan89
{quote} Update: C'MON ..MOVE !! {image}
Nothing is moving. So far, today's D1 candles look like Sunday candles. Slower than payday......

K.I.S.S.
  • #130,939
  • May 19, 2014 1:14pm May 19, 2014 1:14pm
Hi,
My look on USDCHF and two levels marked on the chart. If today will end with IB then I try to trade breakout of it short.
Thank you for your comments.
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  • #130,940
  • May 19, 2014 4:14pm May 19, 2014 4:14pm
Quoting dmc
{quote} Currently in this as a wick play. Started with my stop a little lower then usually so that I can reduce risk. Hopefully get a little more upside here.

I am out at .37 R/R. Just didn't get that push I wanted to see.
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