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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

  • #6,441
  • Sep 25, 2007 5:17pm Sep 25, 2007 5:17pm
Quoting mbqb11
I will take that last line as a joke
Mr. Trend
  • #6,442
  • Sep 25, 2007 5:52pm Sep 25, 2007 5:52pm
Quoting the_wizard
Are you still looking at AUD/CAD?

I am going to make some good money on this pair, this week. I am determined.
No, I missed it. Did you get in around the .8620 area? Looking good.
  • #6,443
  • Sep 25, 2007 6:47pm Sep 25, 2007 6:47pm
Quoting SeekingLight
RACZEKFX!!!!!!! =DDDDDDDD
LOL... no, thanks, I see yen crosses heading lower.. much, much lower from here
just watch xxx/chfs for clues.
  • #6,444
  • Sep 25, 2007 8:47pm Sep 25, 2007 8:47pm
In about 15 minutes the GbpJpy will have closed with three 4hr bull candles off of the 4hr pin bar
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  • #6,445
  • Sep 25, 2007 8:49pm Sep 25, 2007 8:49pm
Same look but bigger picture compared to previous post
Attached Image
  • #6,446
  • Sep 25, 2007 9:10pm Sep 25, 2007 9:10pm
So what does that mean for that so called daily PB ?? I don't think the daily was so great !!! One of the last two 4 hr candles look like Pins going the other way...


Quoting goodthings
In about 15 minutes the GbpJpy will have closed with three 4hr bull candles off of the 4hr pin bar
  • #6,447
  • Sep 25, 2007 9:22pm Sep 25, 2007 9:22pm
Stick to the plan folks... stick to the plan.
Mr. Trend
  • #6,448
  • Sep 25, 2007 9:24pm Sep 25, 2007 9:24pm
Quoting Tiki Trader
So what does that mean for that so called daily PB ?? I don't think the daily was so great !!! One of the last two 4 hr candles look like Pins going the other way...
It means that the bulls are not ready to give up and they are currently not able to overcome the bears who are stuborn at the 231.65 area.
  • #6,449
  • Sep 25, 2007 9:28pm Sep 25, 2007 9:28pm
.
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  • #6,450
  • Sep 25, 2007 9:42pm Sep 25, 2007 9:42pm
The monthly looks nice also as far as some resistence.
  • #6,451
  • Sep 25, 2007 9:43pm Sep 25, 2007 9:43pm
Quoting Tiki Trader
So what does that mean for that so called daily PB ?? I don't think the daily was so great !!! One of the last two 4 hr candles look like Pins going the other way...

I traded the break off of the 4hr pin and I am up 70 pips to date.

GbpUsd struggling down 24 pips
  • #6,452
  • Edited 9:53pm Sep 25, 2007 9:51pm | Edited 9:53pm
Quoting HipsterPipster
The monthly looks nice also as far as some resistence.
Update, my daily feed does have a nice pin showing longs, running into the .7480.
  • #6,453
  • Sep 26, 2007 2:00am Sep 26, 2007 2:00am
Hi guys, I've written a MetaTrader indicator that will calculate with a visual stop loss line how many lots to trade given a fixed risk %. I've posted the .ex4 file and screen shots in this new thread over in the MetaTrader forum. I wanted to especially share it with you all since most of us are very concerned with proper money management and good position sizing. I hope you enjoy it and can find it useful.

http://www.forexfactory.com/showthread.php?t=48623
  • #6,454
  • Sep 26, 2007 3:14am Sep 26, 2007 3:14am
Quoting HipsterPipster
No, I missed it. Did you get in around the .8620 area? Looking good.
No I got in at 0.8705 and 0.8750 - I like to play these when I am absolutely certain my chance of losing is minimal...

Which brings me to another point. I know some of you are already in this. I would say that right now price is entering the "Interference zone" - I don't know if that term already exists - I hope it doesn't because I made it up on the bus this morning when I was thinking about this position.

I would describe the "interference zone" as the zone where most new traders (and some more seasoned ones) are most likely to f*** the trade up by interfering with it the moment it gets into profit.

The weekly pin has now triggered and we've had a strong break through the S/R pivot which has also had a minor test before moving higher. It's looking fairly good right now but its times like this where you act to secure some profit (perhaps move your stop to just beneath the pivot) and then get stopped out just before the move takes off...

I'm fighting this myself...after all it is a weekly pin - not sure why I am trying to trail stops on the hourly...probably because my positions are insanely large (as usual). haha

Mikes video blew me away last night. Dude, I have no idea how you are still holding onto that Euro position...I am sure that second pin (the one that gave you confidence) would have caught my stop if I had been in it...watch his video if you haven't already - this man has got some skills!
  • #6,455
  • Sep 26, 2007 3:39am Sep 26, 2007 3:39am
Quoting raczekfx
LOL... no, thanks, I see yen crosses heading lower.. much, much lower from here
just watch xxx/chfs for clues.
All three xxxCHF are rising and my EURCHF short died - now what?
Trust price. Know yourself.
  • #6,456
  • Sep 26, 2007 3:48am Sep 26, 2007 3:48am
Quoting the_wizard
I'm fighting this myself...after all it is a weekly pin - not sure why I am trying to trail stops on the hourly...probably because my positions are insanely large (as usual). haha




Well I am long AUDUSD and I am long USDCAD...so I guess I am in this trade as well. (Anyone remember everyone not trusting that USDCAD bar after all those "burns" before? Dito EURCAD?)

Had 0.8750 as the AUDCAD breakout level, parallel to 0.8700 AUDUSD I guess.
Now it needs to hold on retest => takeoff.

I'm also in Kiwi, so I hope raczekfx doesn't eat my stops as usual
Trust price. Know yourself.
  • #6,457
  • Sep 26, 2007 6:42am Sep 26, 2007 6:42am
I am considering taking a break of the bar highs coming into the next S/R pivot (around 0.8810) to add a third position here.

The single most important thing for me is getting a decent position on before the move gets underway.
  • #6,458
  • Sep 26, 2007 7:17am Sep 26, 2007 7:17am
Quoting the_wizard
I am considering taking a break of the bar highs coming into the next S/R pivot (around 0.8810) to add a third position here.

The single most important thing for me is getting a decent position on before the move gets underway.


My, you must have high hopes indeed for this one, literally.

UJ back at weekly open, EJ at 163, AUDJPY moving past 100.50 s/r.
Nyer all you naysayers!
Trust price. Know yourself.
  • #6,459
  • Sep 26, 2007 8:14am Sep 26, 2007 8:14am
Quoting SeekingLight
My, you must have high hopes indeed for this one, literally.
I have 0.9300 in my head but I really I try and keep an open mind. I just want to make sure that if it moves, I am in big.

After all, there is no point having an opinion, unless you are positioned to make a huge deal of money from it.
  • #6,460
  • Sep 26, 2007 8:19am Sep 26, 2007 8:19am
Quoting the_wizard
I have 0.9300 in my head but I really I try and keep an open mind. I just want to make sure that if it moves, I am in big.

After all, there is no point having an opinion, unless you are positioned to make a huge deal of money from it.
Hmmm. Well, I'm sticking to the "pure" AUDUSD

USDCAD here has left the building in the last thrash and it may take a bit more of patience to get a really nice setup going(weekly, monthly..).

I still feel there's a chance for the CAD to go somewhere eventually..but the whole market is doing things turning tricky for my mind.

As for the opinion - I'd rather not have one per se - just scenarios.

Or a direction. "Trade in the direction the market is going" - simplest premise
But oh so infinitely difficult to do sometimes...


I am in turn curious whether we will hit 0.8950 / 0.91 AUDUSD eventually.
Trust price. Know yourself.
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