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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

  • #4,601
  • Jul 16, 2007 4:13am Jul 16, 2007 4:13am
breaking out of its daily range? It seemed to be trapped for a while now....
Never say never.
  • #4,602
  • Jul 16, 2007 4:35am Jul 16, 2007 4:35am
Quoting razldazl
breaking out of its daily range? It seemed to be trapped for a while now....
IMHO those two pairs are best traded on their own instead of with that cross.

Just look at the insanity AUDUSD put in.
Hope that TL is Raczekfx worthy
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Trust price. Know yourself.
  • #4,603
  • Jul 16, 2007 4:50am Jul 16, 2007 4:50am
Quoting SeekingLight
IMHO those two pairs are best traded on their own instead of with that cross.

Just look at the insanity AUDUSD put in.
Hope that TL is Raczekfx worthy
yep, agree. And there really isnt any better word to describe aussie either, insane is very fitting!Raz
Never say never.
  • #4,604
  • Jul 16, 2007 7:04am Jul 16, 2007 7:04am
Thank you very much ,Habeeb and The Wizard,
  • #4,605
  • Jul 16, 2007 9:45am Jul 16, 2007 9:45am
Can't seem to find it in my notes, so thought I'd ask here...but when you have a Three Bar High(such as the gbp/usd daily last week) and price breaks above it and you go long, where should your stop be set? Is it like a PB and below the last daily bar or is it at a Fib level? I can't remember/find the typical stoploss placement advice. Thanks!
  • #4,606
  • Jul 16, 2007 9:49am Jul 16, 2007 9:49am
Break of lower support.
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  • #4,607
  • Jul 16, 2007 9:53am Jul 16, 2007 9:53am
Friday's action in the USD/CAD was beautiful. A small IB just above multi-year lows and recent support.

I wrote a post here Friday saying this would be the best setup to hope for but then I deleted it because I thought it sounded a bit stupid to be wishing my position went up and against me when I was short. LOL. Nevertheless I did hope it went against me...

The break of support which was triggered by a 1hr pin bar was a great place to double up and I am glad I saw it.
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  • #4,608
  • Jul 16, 2007 9:55am Jul 16, 2007 9:55am
Good opportunity to double up
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  • #4,609
  • Jul 16, 2007 10:09am Jul 16, 2007 10:09am




Quoting the_wizard
Good opportunity to double up
  • #4,610
  • Jul 16, 2007 10:28am Jul 16, 2007 10:28am
Quoting the_wizard
The break of support which was triggered by a 1hr pin bar was a great place to double up and I am glad I saw it.
Well at least someone managed to stay in the added-to position. My added 1.0493 short was wiped +0 as we got as high as 1.0495 before resuming the drop. At least the original position is still fine.

To follow up on the parallel EURCAD setup here's how the 4h head and shoulders PB panned out after also kicking me out at +3 to see a proper continuation to initial HNS target (FE 100 marked blue on chart).

This is the much-mentioned "retrace bus" I always posted about
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Trust price. Know yourself.
  • #4,611
  • Jul 16, 2007 11:26am Jul 16, 2007 11:26am
Hi Evreybody,
I have been positioned with a short on the Usd/Jpy for most of the morning (5 hrs already) and I just wanted to know if any of you is focusing on this pair and how do you view where it is heading. It seems to me that a daily support @ 121.73 is holding the down progress of the pair (4H chart) and the Daily Chart is showing monthly S1 @121.22 joining with my EMA-89 to also form a joint resistance against further down movement. On the other hand, this pair just broke lose from an uptrend channel in which it traveled for a long time and it seemed as though it was trying to close the gap with the EMA-365 . Any thoughts on this? Thanks, Dan
p.s. - It is great that at least we are riding the CAD for some great profits.
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  • #4,612
  • Jul 16, 2007 11:44am Jul 16, 2007 11:44am
anybody know of a MT4 platform/broker where you can trade oil and the metals?
  • #4,613
  • Jul 16, 2007 11:56am Jul 16, 2007 11:56am
Quoting fx_ninja
anybody know of a MT4 platform/broker where you can trade oil and the metals?
North Finance should do the trick
  • #4,614
  • Edited 1:18pm Jul 16, 2007 1:16pm | Edited 1:18pm
hi, what do you think about the GU daily pin bar coming up??
will it stop at the levels of support i put on the chart? (Red lines)

blue box is the latest box i could find so it is much stornger support..

as i see it it will stop - once it breaks ofcourse, only at 2.0210 area..

would like to hear your thoughts, would appreciate that much

thanks

*edit - i know that currently it is not a pin bar, but there ws on on 4hr chart (IBFX) that didnt break..
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  • #4,615
  • Jul 16, 2007 1:56pm Jul 16, 2007 1:56pm
Quoting mamutot
hi, what do you think about the GU daily pin bar coming up??
will it stop at the levels of support i put on the chart? (Red lines)

blue box is the latest box i could find so it is much stornger support..

as i see it it will stop - once it breaks ofcourse, only at 2.0210 area..

would like to hear your thoughts, would appreciate that much

thanks

*edit - i know that currently it is not a pin bar, but there ws on on 4hr chart (IBFX) that didnt break..
Hey Mammoth!
Well, Id rather be long... I dont think Id go against the trend , just seems too strong lately. Aussie also looks like its shaping up as a daily pin, but I just dont think I could dare after such a strong run up....anybody else care to comment? Raz
Never say never.
  • #4,616
  • Jul 16, 2007 2:59pm Jul 16, 2007 2:59pm
Raz,
Have to agree there is a strong trend and going against would put the odds against us, also they have broken those long TL's and not stopping !!!
Stay Lucky Mimas.
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  • #4,617
  • Jul 16, 2007 3:00pm Jul 16, 2007 3:00pm
GBP_USD
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  • #4,618
  • Jul 16, 2007 3:19pm Jul 16, 2007 3:19pm
I'll stick to looking to buy both on dips

Don't see either in valid PB territory yet and currently most pairs are a coin toss(50% chance of doing what you want them to or not).
Still 3 hours to go to GMT candle close on daily here.
Trust price. Know yourself.
  • #4,619
  • Jul 16, 2007 3:27pm Jul 16, 2007 3:27pm
hey, where can i get that multi-clock on the bottom right hand corner?

thx

Quoting mimas
GBP_USD
  • #4,620
  • Jul 16, 2007 3:54pm Jul 16, 2007 3:54pm
Quoting SeekingLight
I'll stick to looking to buy both on dips

Don't see either in valid PB territory yet and currently most pairs are a coin toss(50% chance of doing what you want them to or not).
Still 3 hours to go to GMT candle close on daily here.
well im already short, so I will be different
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