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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

  • #6,401
  • Sep 25, 2007 7:14am Sep 25, 2007 7:14am
AUD/CAD long about to trigger...finally!
  • #6,402
  • Sep 25, 2007 7:24am Sep 25, 2007 7:24am
Quoting the_wizard
Glad I didn't take that daily cable pin!

Who took that and how are you reacting?
I went short at 2.0215........closed out all but one lot at 2.0100, last one stopped out at 2.0150. No compalints!
  • #6,403
  • Sep 25, 2007 7:34am Sep 25, 2007 7:34am
Quoting the_wizard
Glad I didn't take that daily cable pin!

Who took that and how are you reacting?
I went for the 4h pin, closed half for 70 points the other half is still open with SL at be.

I'd take 75-100 pips any day of the week, even for 50% of my position.

I'm also shorting Gold, very small position. Entered earlier today at 727.20, let's see where it takes me. One more thing, I took this position against the small pins on 1h, 4h. )
  • #6,404
  • Sep 25, 2007 7:34am Sep 25, 2007 7:34am
Quoting the_wizard
Glad I didn't take that daily cable pin!

Who took that and how are you reacting?
not daily but...
short yesterday after 1hr PB @ 2.0280
out yesterday at confluence mentioned here earlier @ 2.0140.
long after 4AM est (my favorite time to trigger long fiber and cable) @ 2.0130
out after housing news @ 2.0198.

these are short term scalps only, and don't reflect my long term view on cable.

happy trading Wiz.. glad you're doing well.
  • #6,405
  • Sep 25, 2007 8:00am Sep 25, 2007 8:00am
This is very good pair to practice PA. It's not as volatile as g/j or cable.
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  • #6,406
  • Sep 25, 2007 8:07am Sep 25, 2007 8:07am
PB ? in traffic.
Prelude to move higher?
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  • #6,407
  • Edited 8:25am Sep 25, 2007 8:11am | Edited 8:25am
Quoting raczekfx
PB ? in traffic.
Prelude to move higher?

I'd say.....yes

If USDJPY pins on daily things will get interesting.

114 has been bought 4-5 times now and I am starting to see an inverted HNS there as well.....I blame Habeeb who kept saying that whenever he wanted something to rise ;p

(I've of course no idea, but I've taken to spiting raczekfx lately so he stays firm in his decisions on trades and can keep making them pips) ;p
Trust price. Know yourself.
  • #6,408
  • Sep 25, 2007 8:31am Sep 25, 2007 8:31am
Quoting SeekingLight
I'd say.....yes

If USDJPY pins on daily things will get interesting.

114 has been bought 4-5 times now and I am ..
... thinking it's BOJ intervention?
  • #6,409
  • Sep 25, 2007 9:56am Sep 25, 2007 9:56am
Quoting raczekfx
... thinking it's BOJ intervention?
DJI 1h DBLHC

And 4h PB on kiwi BUOB stuff on AUD and and and..

Dunno. Things up here are really minefields...we're THIS close to breaking to new highs on AUD and that really nice article I wrote to go up in flames

Really admire your swift and terrifc cable trades lately, wishing I'd have done mine with more gusto, but I'm so deathly afraid to miss the "final rally" that I daren't play the field more....dang.

Okay, now I feel married.


Great.

Thanks!

(attaching that wannabe-wish-it-were-HNS-thing I mentioned)
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Trust price. Know yourself.
  • #6,410
  • Sep 25, 2007 11:57am Sep 25, 2007 11:57am
Quoting SeekingLight

Dunno. Things up here are really minefields...we're THIS close to breaking to new highs on AUD and that really nice article I wrote to go up in flames
... don't you worry about that. The less you care about what people think and say about you ... the better you do....
Quoting SeekingLight
Really admire your swift and terrifc cable trades lately, wishing I'd have done mine with more gusto, but I'm so deathly afraid to miss the "final rally" that I daren't play the field more....dang.
...thanks, but you know where or whom rather, credit belongs....
one thing I noticed though, is that my trading got much, much better once I stopped watching 30+ markets and concentrated on just a few..
I feel old....
  • #6,411
  • Sep 25, 2007 12:22pm Sep 25, 2007 12:22pm
Chf is getting stronger today...
I wonder if Yen will follow soon.
are we going to get here..

http://forexfactory.com/showpost.php...postcount=6186
  • #6,412
  • Sep 25, 2007 12:30pm Sep 25, 2007 12:30pm
Quoting SeekingLight
Really admire your swift and terrifc cable trades lately, wishing I'd have done mine with more gusto, but I'm so deathly afraid to miss the "final rally" that I daren't play the field more....dang.
That's what I'd like to see too, USD/JPY at 118. C'mon carry traders, you can do it!
Tra-X
  • #6,413
  • Sep 25, 2007 12:37pm Sep 25, 2007 12:37pm
Well we all know I took it... !!! That's why it has promptly gone back up...!!

I think it will come back down after I get stopped out...

Well actually I have my stop right where it is supposed to be... we will see... if I lose.. I lose another $ 2 or $3 ... I'll Live...

If only that danged EUR would stop dragging everything up with it !!!


Quoting the_wizard
Glad I didn't take that daily cable pin!

Who took that and how are you reacting?
  • #6,414
  • Sep 25, 2007 12:47pm Sep 25, 2007 12:47pm
Quoting the_wizard
Are you still looking at AUD/CAD?

I am going to make some good money on this pair, this week. I am determined.
When I saw this post this morning price was below strong resistance (it was @ 0.8700). Now it has broken, or at least is strongly trying. What made you think she was gonna break this time?


Anyway, great Call!
  • #6,415
  • Sep 25, 2007 12:56pm Sep 25, 2007 12:56pm
This is thread and another one are the reason I keep coming to this forum. Keep up the good work...however, keep in mind that the longer the time frame + concurring underlying fundamentals translate into good rates of success.
  • #6,416
  • Sep 25, 2007 1:17pm Sep 25, 2007 1:17pm
Quoting Melinni
When I saw this post this morning price was below strong resistance (it was @ 0.8700). Now it has broken, or at least is strongly trying. What made you think she was gonna break this time?


Anyway, great Call!
I was THIS close to correcting you (thought you mistakenly read AUDUSD and wrote that one's levels)then realized AUDUSD = AUDCAD since USDCAD is = 1

LOL oh this is genius. I just realized what this means!

ALL CAD CROSSES ARE NOW 1:1 MULTIPLIER!

Splendid, just splendid.

Mindboggling.


----- I am such a nerd *waves to raz*
Trust price. Know yourself.
  • #6,417
  • Sep 25, 2007 1:32pm Sep 25, 2007 1:32pm
Quoting Melinni
When I saw this post this morning price was below strong resistance (it was @ 0.8700). Now it has broken, or at least is strongly trying. What made you think she was gonna break this time?


Anyway, great Call!
Thanks Melinni - if you keep hitting something hard enough, it will eventually give way. Watching how the market reacts to resistance and predicting whether it wants to take it out, comes from experience and is starting to feel instinctual. That is the best way I can describe it. I have watched this happen this same way many times and I am usually on the sidelines. This time I caught it. Check your PM.

Wiz
  • #6,418
  • Sep 25, 2007 1:32pm Sep 25, 2007 1:32pm
gbp/usd 1 hour charts... I can count 4 sets of Head and shoulders here... means still a chance for GBP to come down to complete the last one...

I know, I know... everyone is laughing at me...!!!

I will win a trade yet !!!
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  • #6,419
  • Sep 25, 2007 1:40pm Sep 25, 2007 1:40pm
Quoting Tiki Trader
gbp/usd 1 hour charts... I can count 4 sets of Head and shoulders here... means still a chance for GBP to come down to complete the last one...

I know, I know... everyone is laughing at me...!!!

I will win a trade yet !!!
We are kinda laughing at you man...
Mr. Trend
  • #6,420
  • Sep 25, 2007 1:41pm Sep 25, 2007 1:41pm
Quoting raczekfx
This is very good pair to practice PA. It's not as volatile as g/j or cable.
I have a setup already to go short. Will be going short when the daily writes at 6PM EST... glad to see someone else watches this pair...
Mr. Trend
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