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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

  • #3,541
  • May 8, 2007 1:43pm May 8, 2007 1:43pm
Quoting razldazl
WAIT
So you would sell eurusd and usdcad to get the eurcad which you believe is on its way down, but then we should buy eurusd (Im not saying Im going to follow any of this advice just trying to understand..) because if it reaches 1. then eurusd will be at 1.46???? Im lost seeking...
LOL, I have to say, I was thinking exactly the same thing...
  • #3,542
  • Edited 2:57pm May 8, 2007 1:53pm | Edited 2:57pm
ALL EYES ON THE YELLOW LINE ....................http://www.fxsurfer.com/forums/image...s/rolleyes.gif

--------------- Let's see where the Funny-mentals take us this week ?

///////////////////////////////////////////////////////////////////////

End of wave " C " ?....... Price seems to be moving toward 2250 ( Longer-Term )
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  • #3,543
  • May 8, 2007 2:00pm May 8, 2007 2:00pm
So much talk about the Canadian Dollar in here ... Here some thing to see !

The Footprints are always in the charts .........
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Here was the trade set-up from Last night -
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End of a wave " B " - low risk trade ........

actually
Very serious support appears to be is lurking in this one ............
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  • #3,544
  • Edited 2:58pm May 8, 2007 2:06pm | Edited 2:58pm
Usd Cad

Today's result after an identified major support within a simple channel formation

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  • #3,545
  • May 8, 2007 2:54pm May 8, 2007 2:54pm
This is where the Canadian Dollar Stands

going forward -

Looking like a Double Bottom formation may be in place ?

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To be continued ..........
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  • #3,546
  • May 8, 2007 3:19pm May 8, 2007 3:19pm
Quoting marketwavez
This is where the Canadian Dollar Stands

going forward -

Looking like a Double Bottom formation may be in place ?

-----------------------------------------------------------
To be continued ..........
Isnt this thread about J16 price action? I dont know anything about wavesssssssssssssssssssss
Never say never.
  • #3,547
  • May 8, 2007 3:32pm May 8, 2007 3:32pm
Quoting razldazl
WAIT
So you would sell eurusd and usdcad to get the eurcad which you believe is on its way down, but then we should buy eurusd (Im not saying Im going to follow any of this advice just trying to understand..) because if it reaches 1. then eurusd will be at 1.46???? Im lost seeking...

All we(MrTrend and me) said is that if you don't have EURCAD then shorting EUR/USD and USD/CAD is the same thing (short EUR, long CAD) as shorting EURCAD. That's how the value for EURCAD is calculated after all, EURUSD x USDCAD = EURCAD. >>> 1.3543 x 1.1045 => 1.4959

And I just considered that if the USDCAD really were set to move to parity, then the EURUSD at that point (could be MONTHS or years) would be at 1.46 accordingly if that's where one expects the EURCAD to go as well...if the timing even matched.
I was just thinking out aloud, not saying those are the prices that will line up, EURCAD could already have long since recovered, moved on or whichever and the offsets change accordingly.

Speaking of which, EURCAD is now rallying after marketwaves pro USDCAD charts....booooooooo!

Hehehe j/k. Long term, marketwaves, wouldn't you say we're in a 3 of a possible 5 down? I don't see a big 4 coming just yet until we make a new low..but who knows...(big as in more than just 100-200 pips for 1-2 daily bars...)

My bad, I'm also a hobby EWer
But only on real biiiiiiiig charts, the rest is such a MESS..
Trust price. Know yourself.
  • #3,548
  • Edited 6:33pm May 8, 2007 5:15pm | Edited 6:33pm
Quoting razldazl
Isnt this thread about J16 price action? I dont know anything about wavesssssssssssssssssssss
You know you're absolutely right
please excuse me ......

I read a few posts back and there were people labeling
their charts with Elliott Waves Wave -counts ....

so i thought this was an Elliott Wave thread -
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Now ,
I just went back to the first 3 pages of this thread
only to see its more about candlestick formations except
that James 16 posts regular bars in is chart posts

He is really explaining various candlestick 3 and 4 bar formations
which is a very popular method of trading that actually pre-dates
our bar charts here in the west .... Trade on !
  • #3,549
  • May 9, 2007 4:04am May 9, 2007 4:04am
Boy, I feel like CNBC now. The chatter starts, the currency reverses...classic!
LOL....

Well, 1.1000 was bound to be a biggie for USDCAD, and here it goes, up 100 pips, taking EURCAD along with it after this...

This may just be the initial dip-toe-and-oooh-that's-cold, but you never know
I doubt it will turn around the monthly...weekly still has three days =)
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Trust price. Know yourself.
  • #3,550
  • May 9, 2007 4:18am May 9, 2007 4:18am
Quoting SeekingLight
Boy, I feel like CNBC now. The chatter starts, the currency reverses...classic!
LOL....

Well, 1.1000 was bound to be a biggie for USDCAD, and here it goes, up 100 pips, taking EURCAD along with it after this...

This may just be the initial dip-toe-and-oooh-that's-cold, but you never know
I doubt it will turn around the monthly...weekly still has three days =)
Gotta hate it when that happens... its even gone and pinned on daily just to be annoying for you seeking...Monthly does indeed look promising, too bad its like 400 pips past its bedtime... with us interest rate statement due out this evening eur could shoot easily shoot up and give a nice entry point higher up though, if thats any consolation...have a nice day everyone, and hey wheres our wizard disappeared off to ?? Raz
Never say never.
  • #3,551
  • Edited 4:37am May 9, 2007 4:21am | Edited 4:37am
Hi Razl.

I'm here watching...

That's a nice pin (by proxy) on EUR/CAD, Seeking.

It's such a shame when I see those because they don't appear on my charts which are on BST...

Still, I'm trading what I see - that way it's easier to work out what to do as the trade progresses.
  • #3,552
  • May 9, 2007 6:17am May 9, 2007 6:17am
Hi just posting for comments, I have taken a short ej based on a dbhlc on 4hr, following a small pin on daily which has been successful. I didnt take the pin because I thought the nose was very small and was somehow expecting eur to continue its climb. In any case here is the 4hr chart, I was very careful to get in on a retrace and I have my stop where I see a potential entry point long...so comments welcome from everyone, experienced not experienced fat short bald EVERYONE...lol Raz
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Never say never.
  • #3,553
  • May 9, 2007 6:31am May 9, 2007 6:31am
Bold stuff, you got some fib confluence too .382 from high in your favour.
ŁY has similar but different signal.
GOD IS NOT SHORT OF CASH
  • #3,554
  • May 9, 2007 6:36am May 9, 2007 6:36am
Quoting Swami S
Bold stuff, you got some fib confluence too .382 from high in your favour.
ŁY has similar but different signal.
Thanks Swami, have a look at 1h....
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Never say never.
  • #3,555
  • May 9, 2007 8:53am May 9, 2007 8:53am
Did anyonetake this one? I didnt even see it...until now
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Never say never.
  • #3,556
  • Edited 12:30pm May 9, 2007 12:14pm | Edited 12:30pm
Quoting razldazl
Did anyonetake this one? I didnt even see it...until now
Raz,
Did not take that one how about this one ???
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  • #3,557
  • May 9, 2007 2:40pm May 9, 2007 2:40pm
Quoting mimas
Raz,
Did not take that one how about this one ???
Attachment
Hi Mimas,
this is what my daily looks like, note two consec highs, and 61 fib confluence...interesting
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Never say never.
  • #3,558
  • May 9, 2007 2:50pm May 9, 2007 2:50pm
and..my eyes are killing me Icant see what tf you are using mimas, but going down to hourly lo and behold there is a dbhlc, right off the 61 fib and nice s/r area...I would call it a sell from 90 ish, anyone else care to comment?
Never say never.
  • #3,559
  • May 9, 2007 5:47pm May 9, 2007 5:47pm
Quoting razldazl
and..my eyes are killing me Icant see what tf you are using mimas, but going down to hourly lo and behold there is a dbhlc, right off the 61 fib and nice s/r area...I would call it a sell from 90 ish, anyone else care to comment?
Raz,
Agree with you there ......I was using the 4 hour timeframe on that chart as you can see bounces of the trendline and a small pin to boot, as you say a sell was in order.
I can see the DBHLC on the 1H interesting stuff ...
Stay Lucky Mimas.
  • #3,560
  • May 9, 2007 6:01pm May 9, 2007 6:01pm
AUD/CAD

Pin bar near the 38 fib.
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