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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

  • #5,461
  • Aug 16, 2007 10:33am Aug 16, 2007 10:33am
Hey... just went to oanda to find out they don't have EUR/NZD !!! I could use some of that retrace that's bound to happen there !!
  • #5,462
  • Aug 16, 2007 10:34am Aug 16, 2007 10:34am
No I wasn't long.

To be honest I have been able to do nothing but watch in disbelief.

I am astounded at the speed with which the carry trades have unwound today. It is literally breathtaking.
  • #5,463
  • Aug 16, 2007 10:54am Aug 16, 2007 10:54am
Quoting the_wizard
900 pips in a day???
GJ did 1030 =)

If you took the steps seperately, more(600 + 700).

Now, where do I put all these pips...

You should be happy, no? You had the original Kiwi PB short
Trust price. Know yourself.
  • #5,464
  • Aug 16, 2007 11:04am Aug 16, 2007 11:04am
Quoting SeekingLight
You should be happy, no? You had the original Kiwi PB short

I did until I decided to close it...after all, I thought, how much lower can it go?

Oh....that low...

Can't bear to look at the chart

LOL
  • #5,465
  • Aug 16, 2007 11:35am Aug 16, 2007 11:35am
Quoting the_wizard
I did until I decided to close it...after all, I thought, how much lower can it go?

Oh....that low...

Can't bear to look at the chart

LOL

Well you gotta think in big boy nrs. 0.725 0.7 0.675 0.65...take a small nibble every 250 or trail the stop down 300 pips each time one of them is hit ;p

You can see where things get "hit", 150 EJ, 112 UJ, 221.5 GJ...started from 122 UJ, 251 GJ...ya know?


Big boy nrs


Also using fib extensions can be interesting if they line up with s/r ==> see chart
Attached Image
Trust price. Know yourself.
  • #5,466
  • Aug 16, 2007 11:37am Aug 16, 2007 11:37am
Anyone dare go long GBP/JPY round here??
  • #5,467
  • Aug 16, 2007 11:38am Aug 16, 2007 11:38am
Quoting the_wizard
Anyone dare go long GBP/JPY round here??
Why?

But there might be a reason to short it again in 20..
Trust price. Know yourself.
  • #5,468
  • Aug 16, 2007 12:09pm Aug 16, 2007 12:09pm
Quoting SeekingLight
Why?

But there might be a reason to short it again in 20..
Aaaand there it is.

I'm not going to call any bottom on this until something gigantic happens.
Trust price. Know yourself.
  • #5,469
  • Aug 16, 2007 1:17pm Aug 16, 2007 1:17pm
So, I have been trading for maybe a year and a half and have read a good 2 dozen books or so. My entries are alright, and my exits could use work.. I have money management down like its a science.. but I feel all but solid in my trading..

I am curious.. do you guys think I could learn anything new from the James16 Private forum?

I am just looking for some extremely robust and very logical entry techniques that use no indicators or MA's..

Do you guys think the PF will be of any use to me?
  • #5,470
  • Aug 16, 2007 1:37pm Aug 16, 2007 1:37pm
Quoting superdezign
So, I have been trading for maybe a year and a half and have read a good 2 dozen books or so. My entries are alright, and my exits could use work.. I have money management down like its a science.. but I feel all but solid in my trading..

I am curious.. do you guys think I could learn anything new from the James16 Private forum?

I am just looking for some extremely robust and very logical entry techniques that use no indicators or MA's..

Do you guys think the PF will be of any use to me?
I really haven't met anyone who didn't get anything out of it. I mean for 129$ for a month isn't it worth the shot?

But my answer is yes you will. Of course you get what you put into it, but that really doesn't apply for you as I have read your posts.



If you have anymore questions lemme know,

Mike
  • #5,471
  • Aug 16, 2007 2:41pm Aug 16, 2007 2:41pm
Quoting the_wizard
Anyone dare go long GBP/JPY round here??
+300...
  • #5,472
  • Aug 16, 2007 3:15pm Aug 16, 2007 3:15pm
Here is daily EUR/USD Pin Bar

Do I dare to trade this ???
Attached Image
  • #5,473
  • Aug 16, 2007 3:45pm Aug 16, 2007 3:45pm
You gotta love it when your broker makes a mistake like this and quotes a market 702 pips above where it should be...unless you are short.

The reason it took me 23 minutes to get out was because they temporarily closed it...
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Click to Enlarge Name: deal.jpg Size: 9 KB
  • #5,474
  • Aug 16, 2007 3:58pm Aug 16, 2007 3:58pm
Quoting Tiki Trader
Here is daily EUR/USD Pin Bar

Do I dare to trade this ???
Hi Tiki,
For : It is at a price extreme in clear space.

Against: Be careful - S/R just above Pin high, then significant MA above that and Fib 61.8% above that.

I think I will risk it when it breaks the S/R.

Good pipping,
Ian
  • #5,475
  • Aug 16, 2007 4:02pm Aug 16, 2007 4:02pm
Quoting Tiki Trader
Here is daily EUR/USD Pin Bar

Do I dare to trade this ???
I prefer GBP/USD.

The pin bar is off a rising TL, the 150ema and the 61 fib of the Mar '07 lows.
  • #5,476
  • Aug 16, 2007 4:20pm Aug 16, 2007 4:20pm
Hey Wizard Yes I prefer GBP too... but no Pin Bar today on GBP...

Can you show a chart of what your were saying in your post as far as the trend line and fibos???
  • #5,477
  • Aug 16, 2007 4:24pm Aug 16, 2007 4:24pm
Ny chart shows we are wll below the 150... so my thinking is more to trade up to the 150 or past.
Attached Image
  • #5,478
  • Aug 16, 2007 4:31pm Aug 16, 2007 4:31pm
Quoting Tiki Trader
Ny chart shows we are wll below the 150... so my thinking is more to trade up to the 150 or past.
seems like a sure bet at least to 1.3500
  • #5,479
  • Aug 16, 2007 4:34pm Aug 16, 2007 4:34pm
Quoting Tiki Trader
Hey Wizard Yes I prefer GBP too... but no Pin Bar today on GBP...

Can you show a chart of what your were saying in your post as far as the trend line and fibos???
There are some absolutely insane pins out there tonight.

Most notably on the Dow. But even some of the forex minors have incredible pins. If you have them take a look at USD/SGD, USD/DKK and USD/SEK.

Tiki, to answer your question. First here is a weekly GBP/USD chart to show my TL.
Attached Image
  • #5,480
  • Aug 16, 2007 4:35pm Aug 16, 2007 4:35pm
Here is the daily chart of GBP/USD to show the fib levels and TL close up.

The fib is drawn from lows that you cannot see on the chart but for your information they were set in March of this year (2007)

The ema is the 150. We closed below it so this is not that positive.
Attached Image
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