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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

  • #4,961
  • Jul 25, 2007 5:54am Jul 25, 2007 5:54am
Daily
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  • #4,962
  • Jul 25, 2007 6:09am Jul 25, 2007 6:09am
Quoting moneybags
Yup, the GBPCHF did as predicted.
I think it was Mamutot who was asking about shorting this yesterday.
This bounced exactly off the support. If you took this Pin short, you would've been in and stopped out within hours.

There was actually a very small 4H Buy Pin at that support line which would've been a good entry going long. Pin didn't look great on my chart but it did the trick.

Tom
tell him to go with the trend always. If and when i do a counter trend trade i normally use half the risk
100% of traders are losers. Just that some win more than they lose!
  • #4,963
  • Jul 25, 2007 6:35am Jul 25, 2007 6:35am
I'm in this with you. I entered a couple lots...currently +17 and +15. I also got in on the gpb/jpy earlier this morning for 50pips! It's been an interesting week..started off great, had a set back yesterday afternoon while I was away at work, now I'm back in the positive side for the week! Goodluck and Happy Trading!

Quoting mimas
Anyone in on this one ??
I jumped in on the 4hour for a pin bounce of the TL, also going with trend....
  • #4,964
  • Jul 25, 2007 7:26am Jul 25, 2007 7:26am
Quoting razldazl
I had my buy limit at 2.4760 and it didnt get taken, the spread must be something outrageous on this mt4 platform arggggggggg Raz
It takes practice and confidence to pull a trigger manually..
There will be a next one..

p.s. I'm watching usd/cad for possible sh trade around 1.0420/40
  • #4,965
  • Jul 25, 2007 7:44am Jul 25, 2007 7:44am
Quoting raczekfx
It takes practice and confidence to pull a trigger manually..
There will be a next one..

p.s. I'm watching usd/cad for possible sh trade around 1.0420/40
I would like you to be right about that one....
Never say never.
  • #4,966
  • Jul 25, 2007 7:56am Jul 25, 2007 7:56am
Quoting razldazl
I would like you to be right about that one....
This is where I had limit sell to add to my sh positions.. it never triggered.
See, it's not only you....
I missed it by some 20ps

R
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  • #4,967
  • Edited 8:56am Jul 25, 2007 8:17am | Edited 8:56am
Quoting Tw0eleven
I'm in this with you. I entered a couple lots...currently +17 and +15.
Hi Tw0eleven,
Good to know I am not on my own on this one.....not looking too good at the moment though, be interesting to see how this pans out as

"The New Zealand dollar is trading at a 25 year high going into Wednesday’s Reserve Bank of New Zealand monetary policy meeting."
Also seems to have3 formed a DBHLC !!!!
Wait and see I guess...!
Stay Lucky Mimas.
  • #4,968
  • Jul 25, 2007 9:25am Jul 25, 2007 9:25am
Quoting raczekfx
...

p.s. I'm watching usd/cad for possible sh trade around 1.0420/40
Will this become a PB or shoots right through the roof after beige book...?
Will find out in less then 2hr...

ok, enough posting for some time. I've already exceeded my quota, JD says.
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  • #4,969
  • Jul 25, 2007 1:55pm Jul 25, 2007 1:55pm
hello again - thats me looking to be right about things i see - is it a nice BUOB on GC in the daily?? it also has a 4h PB that didn't work well - so i guess that a break of the BUOB would be a nice entrance point..??

i won't play it - i still don't know how exactly to, i just want to hear your thoughts..

i am trying to find things on charts before i see them posted here, so here is another attempt.

thanks

PS - it has bounced from the old s now r line - isnt it a plus for an entry reason?
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  • #4,970
  • Jul 25, 2007 2:01pm Jul 25, 2007 2:01pm
Quoting mamutot
hello again - thats me looking to be right about things i see - is it a nice BUOB on GC in the daily?? it also has a 4h PB that didn't work well - so i guess that a break of the BUOB would be a nice entrance point..??

i won't play it - i still don't know how exactly to, i just want to hear your thoughts..

i am trying to find things on charts before i see them posted here, so here is another attempt.

thanks

PS - it has bounced from the old s now r line - isnt it a plus for an entry reason?
You got it Pontiac
Never say never.
  • #4,971
  • Jul 25, 2007 2:04pm Jul 25, 2007 2:04pm
another one of my posts - actually its because i want to improve my post per day ratio, in order to that i should start a journal - but i will once someone tells me i should - that will happen once i pick up the good trades


well - my analysis:

GJ - it goes like that - stuck right on the 150 ema on 4h , along with nice confluence on the daily forming a PB (in case it closes like that) i would say that it would be the end of the correction retracement of GJ - BUT!! it can break to the other side and continue the down trend - PA at lower timeframes should give us the answer..

i would go on a break of a pin, unless it forms a IB tomorrow - well...


too much talking and nothing happens yet- lets see..
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  • #4,972
  • Jul 25, 2007 2:22pm Jul 25, 2007 2:22pm
Quoting razldazl
You got it Pontiac

you mean that i see it right??

to be honest - i am a bit affraid, i have lost too much this month already and i planned to trade swing high and lows daily and weekly pins - but hey, i am studying PA not Pin Trading on its own, so on the break of about 10-12 pips + spread would be good?

where would you place the stop? below the resistance? i mean thats too much - maybe i should go down to a lower timeframe to decide?


thanks
  • #4,973
  • Jul 25, 2007 3:14pm Jul 25, 2007 3:14pm
Quoting mamutot
you mean that i see it right??

to be honest - i am a bit affraid, i have lost too much this month already and i planned to trade swing high and lows daily and weekly pins - but hey, i am studying PA not Pin Trading on its own, so on the break of about 10-12 pips + spread would be good?

where would you place the stop? below the resistance? i mean thats too much - maybe i should go down to a lower timeframe to decide?


thanks
Hi Mammoth,
ignore me, I was remembering an ad on tv when I was little īt said You got it Pontiac! So everyone said that for a while...I know Im sad, but these things stick hehe. Anyway Im not sure IM the best person to answer this question but I would personally say that this pair ie gbpchf has just broken through an important resistance and this resistance became a support. I believe that means it will carry on up. I also see that it is sitting on the FE 100 which comes in around 2.4900, so this COULD be a good entry point. Because I personally would get in on a pullback after a BUOB, especially on a move that would require ideally a stop below the BUOB bar, which would really mean like 200 pips yuck yuck. Other people buy the break of the buob bar as well. And look at Rac what he did and what I attempted to do (missed by 1 pip that is absolutely sick!) and got in when it pulled back to the old resistance point. Or you can draw some trendlines on your chart and look for an entry when/if it pulls back to there. The safest is the break of the bar, but its also the one with the biggest stop...so you have to decide how much you want to take the trade. Golly I am going on and on...spk later Raz
Never say never.
  • #4,974
  • Jul 25, 2007 4:49pm Jul 25, 2007 4:49pm
Please tell me what is FE ???

And to enter on a pull back of the BUOB... how would I know when pull back is complete and time to enter ?? By looking at smaller time frames ??

And why is 2.4900 now a strong support ??

THX
  • #4,975
  • Jul 25, 2007 5:04pm Jul 25, 2007 5:04pm
Hey there - FB is for Fibonacci Expansion, that is the same as we measure the retracement of the price with the fibonacci retracement, with FE we measure how far will the price proceed after retracing , i hop you will get it in the chart i post

(if you got it after i eplained the intials don't be mad at me.. )

the distance between the swing low and the swing high is the same betweeb the retracement low and the continuation high - equivalent to the FE level - i hope that explains it - if it doesn't it cause here its 3AM...
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  • #4,976
  • Jul 25, 2007 5:47pm Jul 25, 2007 5:47pm
Oh dooooooooiiinnnggg !!! Yeah I know about it... just didn't cross my brain !!!
  • #4,977
  • Jul 25, 2007 6:18pm Jul 25, 2007 6:18pm
Thanks MP777 and Wiz..........really was right in front of me............
  • #4,978
  • Jul 26, 2007 12:35am Jul 26, 2007 12:35am
Hi all.

Please excuse me for not reading thru ALL the posts, however can someone describe the basis of the system being discussed on this thread ?
  • #4,979
  • Jul 26, 2007 1:02am Jul 26, 2007 1:02am
Quoting mikelath
Hi all.

Please excuse me for not reading thru ALL the posts, however can someone describe the basis of the system being discussed on this thread ?
Mike,

This is not really a system in the sense that it does not have hard and fast rules for entry/exit.

Read this earlier post of mine:

http://www.forexfactory.com/showpost...postcount=4573

Wiz
  • #4,980
  • Jul 26, 2007 1:10am Jul 26, 2007 1:10am
Cheers. Thanks wiz.

Quoting the_wizard
Mike,

This is not really a system in the sense that it does not have hard and fast rules for entry/exit.

Read this earlier post of mine:

http://www.forexfactory.com/showpost...postcount=4573

Wiz
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