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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

  • #131,141
  • Jun 5, 2014 2:35pm Jun 5, 2014 2:35pm
Quoting dan89
{quote} Anyone else watching this pair ? Mike ..opinions please {image} Take care Dan
NOO !

Stupid bar ruining my pattern !

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  • #131,142
  • Jun 5, 2014 2:57pm Jun 5, 2014 2:57pm
Quoting dan89
{quote} NOO ! Stupid bar ruining my pattern ! {image}
That's the bar I was kind of hoping to see. Your pattern is still good. FTA (short term target) middle of box, mid term target (bottom of box), long term target trendline...you going short??
  • #131,143
  • Jun 5, 2014 3:17pm Jun 5, 2014 3:17pm
Quoting Donkey
{quote} That's the bar I was kind of hoping to see. Your pattern is still good. FTA (short term target) middle of box, mid term target (bottom of box), long term target trendline...you going short??
Hey Donkey,

Nah was planning on going long on the break.

I get what your saying but for me, I dont trade within the range. Rather wait for a break and let it run.

Take care
Dan
  • #131,144
  • Jun 5, 2014 3:19pm Jun 5, 2014 3:19pm
Hey Mike,

Whats your opinion on this 'pinbar' 1) If it closes below the BRN 2) closes above the BRN. Would this be a wick play ? Looking to re-enter short somehwhere.


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Take care
Dan
  • #131,145
  • Jun 5, 2014 4:11pm Jun 5, 2014 4:11pm
Quoting mbqb11
although still a choppy market this is shaping up nice if we can maintain a strong close {image}
Hey Mike,

I wonder what you are looking for there.Looks to me like kind of a pinbar at a swing low so what would be the point.Or do you mean you want that to turn into a bullish outside bar?

Edit:Yeah thats probably it, so you want to go long?
  • #131,146
  • Jun 5, 2014 4:15pm Jun 5, 2014 4:15pm
Hey guys,

It's been a very interesting day today, given the volatility.

I've been watching EUR/USD with interest today, and decided to submit a long order on a pullback to 1.3650.
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SL is below the lows at 1.3575
TP is at the marked TA 1.3725

If 1.37 is touched, the order will be cancelled.
If my order was processed before hitting 1.37, the SL mvoes to BE.
It's a sport, an artform and a science.
  • #131,147
  • Jun 5, 2014 4:36pm Jun 5, 2014 4:36pm
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  • #131,148
  • Jun 5, 2014 6:22pm Jun 5, 2014 6:22pm
Quoting Neytiri
{image}
I'm in with a market order at the close...my targets are the gray boxes. My stop will be moved quickly to where yours currently is set.

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  • #131,149
  • Jun 5, 2014 6:34pm Jun 5, 2014 6:34pm
Quoting stockEX
{quote} Hey Mike, I wonder what you are looking for there.Looks to me like kind of a pinbar at a swing low so what would be the point.Or do you mean you want that to turn into a bullish outside bar? Edit:Yeah thats probably it, so you want to go long?
Not Mike, but my bet is he was watching a BEOB form at the swing high, a classic J16 PA set up (my personal favorite). I watched it too and was looking for a close below the entire range of bars it was engulfing. It tested a BRN of 1.5000 which is added confluence.

There is also a very obvious profit target/trade management point. My notes are on the chart.

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  • #131,150
  • Jun 5, 2014 7:00pm Jun 5, 2014 7:00pm
Quoting Donkey
{quote} Not Mike, but my bet is he was watching a BEOB form at the swing high, a classic J16 PA set up (my personal favorite). I watched it too and was looking for a close below the entire range of bars it was engulfing. It tested a BRN of 1.5000 which is added confluence. There is also a very obvious profit target/trade management point. My notes are on the chart. {image}
Thanks for clearing this up for me.
  • #131,151
  • Jun 5, 2014 11:03pm Jun 5, 2014 11:03pm
Mike, could this bar considered as Pinbar? Thanks...
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  • #131,152
  • Jun 6, 2014 1:13am Jun 6, 2014 1:13am
Quoting gajebo
Mike, could this bar considered as Pinbar? Thanks... {image}
the quality is not complete, a pin bar should:- the tail should be at least 2 times longer than d real body................
the last candle on your chart is a good pin.........
  • #131,153
  • Jun 6, 2014 1:38am Jun 6, 2014 1:38am
Quoting Donaciello
(...), and decided to submit a long order on a pullback to 1.3650. ...
My long order (EUR/USD) was just filled.
With a little luck I can be out or at BE before NFP today.

Trade safe!
W
It's a sport, an artform and a science.
  • #131,154
  • Jun 6, 2014 6:00am Jun 6, 2014 6:00am
Quoting Donkey
{quote} I'm in with a market order at the close...my targets are the gray boxes. My stop will be moved quickly to where yours currently is set. {image}
I am waiting for a 38 - 50% retracement for a better R.

N
  • #131,155
  • Jun 6, 2014 6:03am Jun 6, 2014 6:03am
Quoting mbqb11
{quote} great use of confluence james would be proud of that one
Thanks.
'
Sorry for the late reply

N
  • #131,156
  • Jun 6, 2014 8:47am Jun 6, 2014 8:47am
Quoting Donkey
{quote} I'm in with a market order at the close...my targets are the gray boxes. My stop will be moved quickly to where yours currently is set. {image}
Hi Donkey and other members,
Can you please let me know your opinion how you deal with current situation ?
I went to H4 and found that price wants to close above PPZ line. If closes above I would tighten stop few pips above high of this bar. Is this logical way of managing the trade? Please let me know your comments.
Cheers.
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  • #131,157
  • Jun 6, 2014 9:37am Jun 6, 2014 9:37am
Quoting vanilla.sky
{quote} Hi Donkey and other members, Can you please let me know your opinion how you deal with current situation ? I went to H4 and found that price wants to close above PPZ line. If closes above I would tighten stop few pips above high of this bar. Is this logical way of managing the trade? Please let me know your comments. Cheers. {image}

Firstly, do you want to hang on to this trade over the weekend? If you're not confident anymore close it and wait for a chance to enter again, if there's not PA on a retrace take a break of the OB. Find some material on trade management, a lot of people have a great understanding of what to do when their trade moves in the right direction, it's what to do when it moves against you is what will make a better difference to your profit/loss column. I didn't take any of these OB setups yesterday, if I had it'd be closed now, but that's the way I am, there's always another setup. Good luck with whatever you decide.
  • #131,158
  • Jun 6, 2014 10:23am Jun 6, 2014 10:23am
Quoting Donkey
{quote} Not Mike, but my bet is he was watching a BEOB form at the swing high, a classic J16 PA set up (my personal favorite). I watched it too and was looking for a close below the entire range of bars it was engulfing. It tested a BRN of 1.5000 which is added confluence. There is also a very obvious profit target/trade management point. My notes are on the chart. {image}
Hey D

THanks for clarifying! Yes you are absolutely right. I actually elected to enter on the close since we were under the BRN. I put a very tight leash on it and cut out before NFP around 5017 just cause I wasn't willing to take a large drawdown on this type of entry. I wanted to see only a small pullback and hoped for continued momentum prior too. I have taken a few losses from the end of last month so i'm trying to play things very conservative until I make those up. I like to do that when I hit a losing streak. I had no losing months this year until may.

Also Donkey I read this before I fell asleep last night and no joke your name was in my dream. And the new site leaked and I let you have a sneak peek of it and said don't give the link out and you did! But I was like he's a good guy so i'm not mad.

LOLOL had to share

Mike
  • #131,159
  • Jun 6, 2014 10:40am Jun 6, 2014 10:40am
Quoting mbqb11
{quote} Hey D THanks for clarifying! Yes you are absolutely right. I actually elected to enter on the close since we were under the BRN. I put a very tight leash on it and cut out before NFP around 5017 just cause I wasn't willing to take a large drawdown on this type of entry. I wanted to see only a small pullback and hoped for continued momentum prior too. I have taken a few losses from the end of last month so i'm trying to play things very conservative until I make those up. I like to do that when I hit a losing streak. I had no losing months...
A Fudd dreaming about a Donkey.....something that only makes sense in a forex trading forum!!!! By the way, if you send me a link to the new site to preview, I want leak it!!

I'm patiently waiting for the new site. Will James be activating the RE section or will it be all trading? I would be almost as excited about that as the forex stuff!

April and May were decent to me, I managed some smallish profits amidst all the chop so I was happy. I took one bad trade that closed out on June 1 as a full Risk loss, and wiped out some of those profits...so June is off to a not so good start. STILL working on not overtrading - the hardest part for me.
  • #131,160
  • Jun 6, 2014 10:46am Jun 6, 2014 10:46am
Quoting Donkey
{quote} A Fudd dreaming about a Donkey.....something that only makes sense in a forex trading forum!!!! By the way, if you send me a link to the new site to preview, I want leak it!! I'm patiently waiting for the new site. Will James be activating the RE section or will it be all trading? I would be almost as excited about that as the forex stuff! April and May were decent to me, I managed some smallish profits amidst all the chop so I was happy. I took one bad trade that closed out on June 1 as a full Risk loss, and wiped out some of those profits...so...
lol I woke up cracking up, girlfriend thinks i've lost it(she may be right)

Yes RE will be a HUGE part of it. In fact we have it labeled as Forex and Beyond now cause we've evolved too much and James wants to do a lot of RE stuff

Overtrading is always a hard thing to deal with. Even when you are picky you have to deal with the ups and downs of trading. But if you stay consistent in the end you'l be ok !

Good to hear about your progress D I always thought you'd be ok

Mike
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