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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

  • #5,721
  • Aug 30, 2007 11:59am Aug 30, 2007 11:59am
Quoting SeekingLight
Btw, sometimes it can be very interesting to look back on how old posted charts fill out.

I posted this one / charts with an 220/221 target around the 8-14th of August I believe...at least that's what timestamp and date on my gifs are saying(we were at 235 at the time).

Always dare to dream.

Here's how it filled out =)
Nice.
  • #5,722
  • Aug 30, 2007 12:14pm Aug 30, 2007 12:14pm
I dont see a DHBLC on that chart. What am I missing?

What else did you predict that with, other than a massive Fibonnaci Retrace?
"Please sir, may I have some more pips?"
  • #5,723
  • Aug 30, 2007 1:02pm Aug 30, 2007 1:02pm
Hi HipsterPipster,
I'm holding on this one on GBP_CHF have been down to -65pips or so today and up to +30 back down now to -8 now..........I went in on the daily on the DBLHC and will wait till tommorow to see what this trade is doing.
I have set my trade plan to go in at 24238 with 100 pip stop and until I'm stopped out I will stay in and trade my plan......try and trail my stop if it goes my way....!
  • #5,724
  • Aug 30, 2007 1:08pm Aug 30, 2007 1:08pm
I entered with only a stop loss of about 15 pips with 2% risk, quickly moved to BE. I wanted to max my return, although, this does not give me any room for error. I got out because I coudn't aford to have it test my entry. If it breaks the upper trendline, yesterday's high, may consider getting back in for a long. I just shorted it off the bounce of 234.00, moved to be and will see if it moves much further down. If not, will look for the long. Patience.
  • #5,725
  • Edited 1:21pm Aug 30, 2007 1:18pm | Edited 1:21pm
Quoting mimas
Hi HipsterPipster,
I'm holding on this one on GBP_CHF have been down to -65pips or so today and up to +30 back down now to -8 now..........I went in on the daily on the DBLHC and will wait till tommorow to see what this trade is doing.
I have set my trade plan to go in at 24238 with 100 pip stop and until I'm stopped out I will stay in and trade my plan......try and trail my stop if it goes my way....!
So, you are in this now? Looks like it could be nice for you. I see that price bounced off of the Daily pivot and monthly S1 area.
Oh, I see that you are in it.
  • #5,726
  • Aug 30, 2007 2:05pm Aug 30, 2007 2:05pm
Entered off the 234 bounce, TP at 233.15. Bagged 240 today, going for a walk.
  • #5,727
  • Aug 30, 2007 2:21pm Aug 30, 2007 2:21pm
Quoting J2FcM
If Sundays are often disregarded.. are Fridays as well? Are Friday daily bars obsolete as soon as they are over?

Also, What if Sunday is an eye, Monday is a pin bar, Tues is an eye? Disregard?

Does this mean, ignore monday pin bars too? Only pay attention to "eyes" that show up on Monday, and pin bars that occur on Tues - Fri?

:surprised
Hey there J,
what are you on? You sound like you need some sleep...hehe, take care and get some shut eye, Raz
PS where is WIzard these days?
Never say never.
  • #5,728
  • Aug 30, 2007 2:45pm Aug 30, 2007 2:45pm
Quoting HipsterPipster
Entered off the 234 bounce, TP at 233.15. Bagged 240 today, going for a walk.
HipsterPipster,
Thats a good day for sure.....
  • #5,729
  • Aug 30, 2007 4:29pm Aug 30, 2007 4:29pm
[quote=SeekingLight;1568117]I sold USDCAD today at 1.0620 and moved stop to 1.0610. Either it goes to 1.02 or it doesn't, but that's where I prefer to aim(after surviving 1.0450 / 1.04) until 1.3550 EURUSD dies and 81.20 USDX gets exceeded. (USDX has the identical price pattern as USDCAD, a potential head and shoulders. So far the neck has not been broken yet. Roughly 1.37 - 1.3780 EURUSD would do it though and 1.38 possibly for good..)

Ah HA !!! I went short too on CAD !!! target 103.70 though I think it would go down more... I am more conservative where I take profits
  • #5,730
  • Aug 30, 2007 5:15pm Aug 30, 2007 5:15pm
Quoting J2FcM
I dont see a DHBLC on that chart. What am I missing?

What else did you predict that with, other than a massive Fibonnaci Retrace?
If you meant me and my chart, ignore all the text on it, that was meant for daily bars. I had to toggle it to monthly to show all of the move and it was merely to illustrate the targets and prices. I posted the setups itself here on this very thread at the time.
Do not be afraid to read past posts on this thread as well, there are also good examples of setups in the past
Trust price. Know yourself.
  • #5,731
  • Aug 30, 2007 5:18pm Aug 30, 2007 5:18pm
Quoting Tiki Trader
Ah HA !!! I went short too on CAD !!! target 103.70 though I think it would go down more... I am more conservative where I take profits

Well I'm flexible. I'm open to the possibility we can turn around still as well as 1.0.

It's a bit "I'll believe it when I see it". Until then it's trying to get in on moves early and give each side a shot and protect capital until the actual move crystallizes.

The market hasn't decided yet, so I haven't either

I got in the short due to a 4h PB after a double top at the shoulder level of what could either be a head and shoulders or a very big initial swing up, retest down, start to move up again..RaczekFX seems to favor the monthly PB, you the HNS for lower...I'm trying to stay sane ;P

I mostly fail at that though ;p
Trust price. Know yourself.
  • #5,732
  • Aug 30, 2007 5:21pm Aug 30, 2007 5:21pm
Quoting SeekingLight
...I'm trying to stay sane ;P

I mostly fail at that though ;p
  • #5,733
  • Edited 2:20am Aug 31, 2007 1:54am | Edited 2:20am
Eight words for you all.

Euro. Five bar daily high. About to break.

P.S Hi Raz - I've been on holiday but I'm back now.
  • #5,734
  • Edited 2:58am Aug 31, 2007 2:46am | Edited 2:58am
Quoting the_wizard
Eight words for you all.

Euro. Five bar daily high. About to break.

P.S Hi Raz - I've been on holiday but I'm back now.

Hi Wiz,
Hope you had good hols......
Do you mean the EUR_USD ???
I can see on my feed there is a very strong RES line there......I have also been waiting for it to break..........at 13684....!!!
If it does break would you enter on a friday ???
For me unless it's early on a Friday I normally stay out as it can be a strange day with everyone trying to off load before the weekend.
Stay Lucky.
Attached Image (click to enlarge)
Click to Enlarge Name: eur_usd.gif Size: 17 KB
  • #5,735
  • Aug 31, 2007 3:08am Aug 31, 2007 3:08am
Quoting mimas
If it does break would you enter on a friday ???
Hi Mimas,

As long as price is moving, I will enter, whatever day of the week that may be.

Although I particularly dislike Monday and of course I am cautious entering on a Friday because of the weekend charge if I roll.

I actually entered this a little early at 1.3675. It's retreating from that now but I have a feeling this will break this level soon enough. (whether that is today or not I do not know)

Wiz
  • #5,736
  • Aug 31, 2007 4:55am Aug 31, 2007 4:55am
Just wanted to add today is also the last day of the month

Let's start handing around the hat with wild guesses for the monthly bar shape =D

This is goan be interestin'...

BTW, has anyone noticed GBPUSD weekly has the same last 3 bar pattern as on daily? Yessy yes indeedely doo ;D

Ah, the fractal market, how I love and loathe thee at the same time ;p
Trust price. Know yourself.
  • #5,737
  • Aug 31, 2007 5:22am Aug 31, 2007 5:22am
Hi All,

I have not posted for a while but I have been reading all your posts with interest.
I would like to say thanks to James for his interesting method. I have been using it lately in conjunction with my system with great success. The method has filled in a gap in my knowledge.
Frankly I have turned the corner from being a very good analyst to becoming a very good trader.
Live trading has gone extremely well.
I will join the PF when I have enough spare cash to pay for the year.
Thanks for sharing your knowledge and experience.
  • #5,738
  • Aug 31, 2007 7:35am Aug 31, 2007 7:35am
Quoting dltvn
For me right now is a time to seat on my hands and wait till the PA is telling me in what direction it wants to move and that is what I am doing with the Gbp/Jpy pair. LOL, Dan
DLTVN, are you getting ready for a break out? I entered at 233.61 on the trendline breakout, will watch to see if it can break the 235.50 well.
Dion
  • #5,739
  • Aug 31, 2007 9:06am Aug 31, 2007 9:06am
Quoting HipsterPipster
DLTVN, are you getting ready for a break out? I entered at 233.61 on the trendline breakout, will watch to see if it can break the 235.50 well.
Dion
HH, I solute you great! however I am still waiting for a clear picture and as you can see there is an up/down moves right now. I think that the pair should clear the 235.00 zone where there is a lot of confluence, as I see it, and that will be a clear entry for me. I am glad you're making money there but don't let it slip away from you now. dan
  • #5,740
  • Aug 31, 2007 9:25am Aug 31, 2007 9:25am
Quoting dltvn
HH, I solute you great! however I am still waiting for a clear picture and as you can see there is an up/down moves right now. I think that the pair should clear the 235.00 zone where there is a lot of confluence, as I see it, and that will be a clear entry for me. I am glad you're making money there but don't let it slip away from you now. dan
:-) It already did, no loss thou and I am back in with BE lower than my original entry. In these swings you could hedge and still come out on top.
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