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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

  • #4,821
  • Jul 22, 2007 10:33am Jul 22, 2007 10:33am
Hi Tiki,

Although again not relevant for here! Must stop doing this.........
From my studies I have found the best tool to signify trend change is Woodies CCI. To be significant it needs to change on the daily and weekly charts.
But no other indicator comes close to predicting a viable trend change.
I use mine on custom settings.
It is accurate.
The 4 hr is about to go into positive territory and when it does we will see a big jump. The daily has some way to go. I do confirm with the other indicators that I use but- I will not discuss those here and now. Mainly because this is a J16 thread.

How do you trade a BEOB?
  • #4,822
  • Jul 22, 2007 12:16pm Jul 22, 2007 12:16pm
hey guys just letting people know I will be out on vacation from wed - monday so I will get to my PMs when I get back I am not ignoring you

Here is a trade I am looking at also(3rd time back to this resistance)
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  • #4,823
  • Jul 22, 2007 1:04pm Jul 22, 2007 1:04pm
does anybody know where to get the indicator for that

"*** minutes till bar end"

on the previous chart top left hand corner..

thanks..
  • #4,824
  • Jul 22, 2007 1:27pm Jul 22, 2007 1:27pm
Quoting streetguy88
does anybody know where to get the indicator for that

"*** minutes till bar end"

on the previous chart top left hand corner..

thanks..
http://forexfactory.com/attachment.p...1&d=1172540696
  • #4,825
  • Jul 22, 2007 2:27pm Jul 22, 2007 2:27pm
Quoting mbqb11
hey guys just letting people know I will be out on vacation from wed - monday so I will get to my PMs when I get back I am not ignoring you

Here is a trade I am looking at also(3rd time back to this resistance)
Just curious, were you looking to go long or short? I'm not quite sure how to play this, but I posted a chart a page or two back showing the same thing you did. Thanks!
  • #4,826
  • Jul 22, 2007 2:33pm Jul 22, 2007 2:33pm
Quoting Tw0eleven
Just curious, were you looking to go long or short? I'm not quite sure how to play this, but I posted a chart a page or two back showing the same thing you did. Thanks!
we have a pinbar on the daily so I will be looking to short on a break
  • #4,827
  • Jul 22, 2007 2:49pm Jul 22, 2007 2:49pm
Thanks Mike, I wasn't sure if we were waiting for a break of the PB for a short or if we were waiting for it to break the resistance above for a long position.

Quoting mbqb11
we have a pinbar on the daily so I will be looking to short on a break
  • #4,828
  • Jul 22, 2007 2:55pm Jul 22, 2007 2:55pm
Quoting Tw0eleven
Thanks Mike, I wasn't sure if we were waiting for a break of the PB for a short or if we were waiting for it to break the resistance above for a long position.
both can be valid plays
  • #4,829
  • Jul 22, 2007 2:56pm Jul 22, 2007 2:56pm
Speaking of the GBPCHF, if you look at the monthly charts you'll that this area of 2.4700-2.4800 is a very major support/resistance line. (over the last 20 years or so )
It'll be interesting to see what happens here.

Tom
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  • #4,830
  • Edited 3:20pm Jul 22, 2007 3:19pm | Edited 3:20pm
Hi all,
Am a relative newbie and am after advice from you experts regarding the current GBPCHF daily pin.

After the previous two touches of this area the price fell, but then retraced to at least 61.8 % (see pics below)

Is this a valid way to play this pin. I.e. wait for the retrace or would you all prefer to go straight for the break, or even break after retrace?



Many thanks
Cheers
Colin.
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Enter Signature
  • #4,831
  • Jul 22, 2007 3:22pm Jul 22, 2007 3:22pm
or even get in on the retrace and then reverse positions when it hits 61.8
Enter Signature
  • #4,832
  • Jul 22, 2007 3:28pm Jul 22, 2007 3:28pm
You read my mind actually, I have entry stops placed both above and below the PB. The way I see it, if it breaks down I'm looking for about 200pips and if it breaks resistance upward should get 200pips or more. We'll see which one gets triggered first. Happy Trading!!!

Quoting mbqb11
both can be valid plays
  • #4,833
  • Jul 22, 2007 3:30pm Jul 22, 2007 3:30pm
Hey Cologg,

The way to play pins is a personal preference.
Some people only play the break and others play the retraces.
The more conservative way to play Pins is on the break. Because a pin isn't really valid until it's broken.
So it's really up to you and what you feel more comfortable doing.
I know that's not a specific answer but there's no right or wrong way to play it. Personally, I only play the break of Pins.

I hope that helps somewhat.

Tom
  • #4,834
  • Jul 22, 2007 4:29pm Jul 22, 2007 4:29pm
Quoting streetguy88
Hi everyone, noob here.. virgin post.

all feedback are welcomed.

I'm planning to long the USDCAD.

1)DBLHC on daily.
2)near support line and S1 pivot
3)MM lines near 1/8 signalling buy.
4)potential PB on weekly chart.



any constructive feedback are much appreciated.
Well, I wouldn't take it, because I haven't seen anything to indicate a move up for this pair. Also, I have a SR line drawn at 1.0545 that is too close to the current price to give me much of an incentive. If you do take the trade, you might consider early profit taking at this level.
  • #4,835
  • Jul 22, 2007 5:37pm Jul 22, 2007 5:37pm
Hi,

Also, it looks like USD/CAD could be forming a zero-line reject short, if you're familiar with woodies cci.
Gold is touching the upper triangle trendline.

-Paul
  • #4,836
  • Jul 22, 2007 5:38pm Jul 22, 2007 5:38pm
This could get awfully interesting...
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  • #4,837
  • Jul 22, 2007 5:57pm Jul 22, 2007 5:57pm
Quoting Tiki Trader
Anyone have thoughts on USD/JPY ???

Friday ended with a BEOB

I see continuation down to the 150 ema and maybe eventually even the 365 ema.
Maybe. This is the third recent test of a Support, so buyer (seller in this case) beware. Personally, I'd like to see it finish cleanly below 120.75 first. I also like to see the close of the BEOB be lower on the bar. The support is at the confluence of the 38% fib measured from the 3/6/07 swing low. That is a strong thing to break.

But that is just lil ol me. You never know.... maybe it breaks! Playing the odds - Seems like a gamble.

Lets watch and see....
I'm pretty much done with all this ...
  • #4,838
  • Jul 22, 2007 6:16pm Jul 22, 2007 6:16pm
storagepro you are right about all that... !! I will study more first on this one !!
  • #4,839
  • Jul 22, 2007 6:22pm Jul 22, 2007 6:22pm
Trading a DBLHC, where is the correct place to place my stop assuming I am entering trade 10 pips above the DBLHC ???

THX anyone
  • #4,840
  • Jul 22, 2007 6:35pm Jul 22, 2007 6:35pm
Quoting isitrue
Hi,

Also, it looks like USD/CAD could be forming a zero-line reject short, if you're familiar with woodies cci.
On the daily you mean, I guess? Yes it's right at zero now, but that's the thing about indicators as well as price... you never know what will happen in the next [whatever time period]. People talk about patterns forming, but until they've formed, they're nothing more than a potential, and anything is likely to happen. Price can randomly go up or down, and this can be driven by one person or entity, who initiates one random event, even in the fx market.
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