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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

  • #134,741
  • May 1, 2015 8:15am May 1, 2015 8:15am
Quoting Wes21
EURGBP rocketed away from the H4 pinbar. The .7400 SR sucked it like a magnet. {image}
I am expecting .7500.
will see.
  • #134,742
  • May 1, 2015 8:25am May 1, 2015 8:25am
Quoting codekid
{quote} hey fxin, Just letting you know I took that trade and i'm up about 100 pips! Good eye man Regards, CK
Your welcome man. Enjoy!
  • #134,743
  • May 1, 2015 8:36am May 1, 2015 8:36am
Quoting Wes21
Guys, how many hours before the end of Friday is it recommended to stop trading? And how many hours after Monday opening is advised to start trading? Do you close all trades before Friday closes? Lets say im just trading D1 timeframe.
Wes, others will answer this one more informatively, but I know that sometimes price can gap up or down on Monday's open slicing through stops at times as you probably know. I've seen price gap to around 50-60 pips plus, which can be a good thing or not so good depending where your trade's at. A few traders have said they don't worry so much about this phenomena on larger time frames like daily, weekly, monthly. But theoretically, I suppose some sort of major news event over the weekend could send price haywire, we don't know. I know some traders also close their trades no matter what because of such possibilities every Friday. Some folk sometimes find ways to get back into a trade again if you want to close it to be safe. Like I've heard Jim say here on occasion. If you've got a little profit on the table, why the hell wouldn't you take it?

Good trading Codekid re GBP/USD. I bought that pair on the way up and missed getting in on the way down. Plenty of opportunities out there. EUR/GBP D1 at key level. GBP/NZD D1 just formed some nice PA that might be too late to jump in on now. Next week should give more pips to J16 er's.
'Fail to plan, plan to fail'
  • #134,744
  • May 1, 2015 8:44am May 1, 2015 8:44am
Quoting Idkurv
{quote} I am expecting .7500. will see.
Hi Idkurv. I am curious what you are seeing at .7500 level. Is it this Fibonacci wizardry at .50% below which is at that level? Thanks, G

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'Fail to plan, plan to fail'
  • #134,745
  • May 1, 2015 8:54am May 1, 2015 8:54am
USD/CAD H4. IB breakout of S/R level. 1st target hit. BE.

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'Fail to plan, plan to fail'
  • #134,746
  • May 1, 2015 10:35am May 1, 2015 10:35am
GBP/CAD H4. Pips locked in. Moving down nicely. Target 1.82700.

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'Fail to plan, plan to fail'
  • #134,747
  • May 1, 2015 11:10am May 1, 2015 11:10am
Quoting Guitarbloke
{quote} Hi Idkurv. I am curious what you are seeing at .7500 level. Is it this Fibonacci wizardry at .50% below which is at that level? Thanks, G {image}
I am not sure if you will believe my answer...but I mean it..
I see nice round number 75 (nicer than 74)
and it collide with fibo 50 that you showed ,
and if you look at weekly tf...
  • #134,748
  • May 1, 2015 11:12am May 1, 2015 11:12am
AUD/JPY H1. Aussie rockin' the house....if you're short! Missed getting in at swing high double bar top, but entered a few pips below break of BEOVB and BRN at 94.80. Target 365 ema at 93.35 level. Good trading to you.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,749
  • May 1, 2015 11:16am May 1, 2015 11:16am
Quoting Idkurv
{quote} I am not sure if you will believe my answer...but I mean it.. I see nice round number 75 (nicer than 74) and it collide with fibo 50 that you showed , and if you look at weekly tf...
Right now .738sh acts as support so far..
will see..
  • #134,750
  • May 1, 2015 11:18am May 1, 2015 11:18am
Quoting Idkurv
{quote} I am not sure if you will believe my answer...but I mean it.. I see nice round number 75 (nicer than 74) and it collide with fibo 50 that you showed , and if you look at weekly tf...
Yes, I believe you Id and it makes sense. Thanks for your reply. G
'Fail to plan, plan to fail'
  • #134,751
  • May 1, 2015 1:02pm May 1, 2015 1:02pm
Quoting mordin
{quote} Guitarbloke, Steve, perhaps you'll find this script useful. It is a MT4 script (goes into script folder) that reads your account balance, and you just have to input your desired risk and stop size. {image} Then it gives you the following result {image} If you use several positions (I use three) you just have to split that size into X and there you go. Hope this helps. {file}
Great stuff!

Thanks
This is you against your ego - James16
  • #134,752
  • May 1, 2015 5:09pm May 1, 2015 5:09pm
What a week lads, i got thrown around quite a bit again. Managed to finish the week at a small loss.
  • #134,753
  • May 1, 2015 7:05pm May 1, 2015 7:05pm
Never too early to look at next week. I'm liking the BEOB on GBPJPY that is in confluence with the 64.8 fib and the 184 RN. Personally would have preferred this PA at 185.00 but think I'll likely short this pair to start the week.

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  • #134,754
  • May 1, 2015 7:29pm May 1, 2015 7:29pm
Quoting Donkey
Never too early to look at next week. I'm liking the BEOB on GBPJPY that is in confluence with the 64.8 fib and the 184 RN. Personally would have preferred this PA at 185.00 but think I'll likely short this pair to start the week. {image}
It looks a rippa Donkey. How will you trade it? Will you apply a fib on that BEOVB and set a sell limit for a certain level, or break of the bar? Thanks, G
'Fail to plan, plan to fail'
  • #134,755
  • May 1, 2015 11:57pm May 1, 2015 11:57pm
Quoting dfstone32
{quote} Another point of view. I had been looking to short this pair for several weeks. and put in a limit order to sell at 1.2185 early last week which was filled on Thursday. 62 EMA confluence with Fib. I'm currently up almost 1% at 85 pips and am hoping for another 80 or so at around 2100. Now my little trading partner on my left shoulder is screaming at me to bail NOW after reading much of the latest "expert advice" on the Swisse. One of my rules is to ignore others opinions. What to do. What to do. {image}
Hi dfstone32,

Your's pivot indicator looks great, where's you find that?
Can you share please? Thanks in advance
astroganndotcom
  • #134,756
  • May 2, 2015 10:37am May 2, 2015 10:37am
hi guys,
anyone lookin at the W1 aud/nz bullish engulfing bar coming off parity(almost). gotta be worth keepin an eye on.

guy
PATIENCE... DISCIPLINE
  • #134,757
  • May 2, 2015 10:55am May 2, 2015 10:55am
Hi pije76
I like to share with you this amazing (Auto-Trading) with Pivot Indicator I am currently using, and it has a trailing stop feature which works even when your computer is off, as long as it activated you can switch off your computer and carry on with your normal duties.
check out my live trade
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If interested to you can click here: Pivot trader pro
  • #134,758
  • May 2, 2015 11:08am May 2, 2015 11:08am
Quoting g_j_hook@yah
hi guys, anyone lookin at the W1 aud/nz bullish engulfing bar coming off parity(almost). gotta be worth keepin an eye on. guy

I see it too. There is also bullish divergence (standard MACD) on the same weekly chart.

Olu
If you think you can or cannot do it you are correct
  • #134,759
  • May 2, 2015 11:36am May 2, 2015 11:36am
Quoting Idkurv
{quote} I am expecting .7500. will see.
1st target 7550 - 7600
2nd 7700
3rd 7750
  • #134,760
  • Edited 8:13am May 3, 2015 7:30am | Edited 8:13am
My question: AUD/NZD. Daily chart. Is this now in an uptrend and should it be traded as such, or would you say......you're crazy, that pin bar is a classic screaming short me?

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'Fail to plan, plan to fail'
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