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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

  • #6,021
  • Sep 13, 2007 10:11am Sep 13, 2007 10:11am
I really like what is developing here.
Dion
  • #6,022
  • Sep 13, 2007 10:13am Sep 13, 2007 10:13am
Quoting SeekingLight
The reason there's so many USD and only a handful of other bills is because the garage owner diversified and put half his money in USD and half of it in real money ;P

*runs away before the american's chase him down* ;d
Nice one SeekingLight, haha. Go eat your krout,.... and save some for me.
  • #6,023
  • Sep 13, 2007 11:04am Sep 13, 2007 11:04am
Seeking? Mike?

I know you are both going to have something to say about this...
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  • #6,024
  • Sep 13, 2007 11:11am Sep 13, 2007 11:11am
Quoting the_wizard
Seeking? Mike?

I know you are both going to have something to say about this...
I'll just paste what I wrote in the PF sans extras.

--------

Weekly bar is already a 90 pip rise. That's a lot of upside power.

I think it needed to retrace.
Sometimes some setups are just pullbacks to buyers.
Last daily bar was 55 pips up. That is a lot for EURGBP imho.
This all puts me looking to buy dips, not trying to catch a top.

Staying away from shorts on this one hence. It may just base at a TL I have it broke above.

One can always wait for what the daily will do. Personally I am certainly not in a hurry to be bearish on this one.


/////


Never hurts to click through those charts.

Not that that setup won't work out - I just don't like the situation.
Fact is, I'd love nothing more than for EURGBP to slow down a bit and cable to wake up again. But I just try and use good reasoning...in this strong a moving pair I just get scared easily and anti-trend seems so wwwwwrong ;p

Others love it(guess who I was thinking about...and an hour later you post it here hehehe...classic)...and what other than a reversal pattern to turn it around...but we will see..

--------

Also see my last weekly chart I posted a few back.
http://www.forexfactory.com/showpost...postcount=6015
Trust price. Know yourself.
  • #6,025
  • Sep 13, 2007 11:11am Sep 13, 2007 11:11am
Pin bar off 61 fib.

P.S I know, I know, still 7 hours until the close...but they are quiet hours
shhhh
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  • #6,026
  • Sep 13, 2007 11:42am Sep 13, 2007 11:42am
Quoting the_wizard
Pin bar off 61 fib.

P.S I know, I know, still 7 hours until the close...but they are quiet hours
shhhh

Nah, they can still get very noisy. How do you know it won't become a BUOB?

But there were some - wait for it - nice .... wait for it....4h! Pins mehehe


Rather insane behavior on the hike today, but the second expected outcome I wrote about here
http://www.forexfactory.com/showthread.php?t=46688
came through...but whether it sustains long term we'll have to see.

I still think it's all about the DJI / S&P.
Trust price. Know yourself.
  • #6,027
  • Sep 13, 2007 12:01pm Sep 13, 2007 12:01pm
wow....
  • #6,028
  • Sep 13, 2007 12:08pm Sep 13, 2007 12:08pm
Quoting HipsterPipster
wow....
wow what?
  • #6,029
  • Sep 13, 2007 12:20pm Sep 13, 2007 12:20pm
Quoting the_wizard
wow what?
Regarding 4H, I had entered the E/G short. I too had been watching this triangle and the bullish move with bounce down. I pulled out to see it drop enough for my small, scalp trade. I am looking to go long if it finds some support around .6800-.6826 area. Also, Seeking, I mean no disrespect regarding my krout comment.
Dion
  • #6,030
  • Sep 13, 2007 12:46pm Sep 13, 2007 12:46pm
Quoting HipsterPipster
Also, Seeking, I mean no disrespect regarding my krout comment.
Dion

That's quite alright Dion, I get humor if it's well natured

Haven't eaten anything ending in -kraut for over a year though I'm afraid

I make a mean chili or rice pan though
Trust price. Know yourself.
  • #6,031
  • Sep 13, 2007 1:01pm Sep 13, 2007 1:01pm
Two quick observations.

On the 15m chart EUR/USD bounced off 200 sma. Given the small time frame, this moving average is not a strong one yet the price still could penetrate it. *writing on my mental-proof memo 1.3861 - first support

On the 1h chart GBP/USD bounced off 200 sma, also strong resistance now turned into support. *writing on memo 2.0231 - strong support

Lots of nice patterns today, too bad I stayed out of the market after I closed a bunch of positions yesterday and earlier today.

Oh, did anyone short EUR/AUD this week?
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  • #6,032
  • Sep 13, 2007 4:21pm Sep 13, 2007 4:21pm
Quoting Goozman

Oh, did anyone short EUR/AUD this week?

As in at all?

I was long a bit, then short a bit, now long a bit...

I shoulda held onto the short a bit longer =)
But no problem, other things worked out.....UNLIKE CABLE hehehe ;p

BTW @ wiz, seeeeeeeeeeeeeeeeeeeeeeeee about EURGBP
Trust price. Know yourself.
  • #6,033
  • Sep 13, 2007 4:41pm Sep 13, 2007 4:41pm
OK, I have a real PA question... in the following chart I see this pattern over and over again, not just on 1 hr, but all time frames... last green candle is not a PB, but WHY, does price always fall after that candle ?? I have always seen it, but now I am paying more and more attention to it... I think it is tradable...

THX for your answers !!!
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  • #6,034
  • Sep 13, 2007 4:48pm Sep 13, 2007 4:48pm
Quoting SeekingLight
BTW @ wiz, seeeeeeeeeeeeeeeeeeeeeeeee about EURGBP
You're right - that's the last time I post a setup early!

Look at GBP/JPY! Gone from bullish bar to pin bar in the last couple of hours and still plummeting...
  • #6,035
  • Sep 13, 2007 4:50pm Sep 13, 2007 4:50pm
I use Meta4. I can't figure out how to bring up an indicator that I download. Can someone please point me in the right direction? Thanks in advance!
N8
  • #6,036
  • Sep 13, 2007 4:52pm Sep 13, 2007 4:52pm
Quoting the_wizard
You're right - that's the last time I post a setup early!

Look at GBP/JPY! Gone from bullish bar to pin bar in the last couple of hours and still plummeting...
Yeah, and I was waiting for it, and missed it.
  • #6,037
  • Sep 13, 2007 4:56pm Sep 13, 2007 4:56pm
I did however enter this short from the 61.8 fib and 1.6468 price resitance area.
  • #6,038
  • Sep 13, 2007 5:14pm Sep 13, 2007 5:14pm
Quoting the_wizard
You're right - that's the last time I post a setup early!

Look at GBP/JPY! Gone from bullish bar to pin bar in the last couple of hours and still plummeting...
Don't forget GBPCHF
Trust price. Know yourself.
  • #6,039
  • Sep 13, 2007 5:15pm Sep 13, 2007 5:15pm
Quoting the_wizard
Look at GBP/JPY! Gone from bullish bar to pin bar in the last couple of hours and still plummeting...
I missed this one too.
That was a beauty. Good for 200 pips in 2 hours. &*^%!

next time....

Tom
  • #6,040
  • Sep 13, 2007 5:18pm Sep 13, 2007 5:18pm
Quoting Tiki Trader
OK, I have a real PA question... in the following chart I see this pattern over and over again, not just on 1 hr, but all time frames... last green candle is not a PB, but WHY, does price always fall after that candle ?? I have always seen it, but now I am paying more and more attention to it... I think it is tradable...

THX for your answers !!!

Tiki, I am not sure about the 1h, but I do believe the spike high at that rally attempt may constitute the B of an ABC down, one of those things I trade when they're clearly visible enough..current C down is in progress and hitting pretty darn hard...glad I cut most longs at that last 2.03x visit...took profit on the flip-shorts at 2.022 a BIT early perhaps

Might make some videos about that stuff very soon for the PF.

Completely blanked out at the 2 4h PBs at the top, ignoring them due to the daily BUOB...bah....silly me...never underestimate what the chart is trying to tell you...not once, twice...it was screaming HELLO, DUDE, SERIOUSLY, I AM EXHAUSTED, I CAN'T TAKE ANY MORE...and I was like...shhhyea, but that BUOB!.....and it was all like..DUDE, SERIOUSLY...PIN BARS, WAKE UP!..

It was all hands over ears, nyanyanyanyanya and downhill from there ;p
Trust price. Know yourself.
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