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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

  • #6,741
  • Oct 3, 2007 3:20pm Oct 3, 2007 3:20pm
Quoting raczekfx
why not...?
Instinct

If you catch it like you did it's a great trade in terms of r:r but I mean that I wouldn't trade it conservatively on a break of the pin. Simply because I feel it won't fall far before it tests the highs again.

I may of course be completely wrong...it is a pin and it is at good resistance...
  • #6,742
  • Oct 3, 2007 3:23pm Oct 3, 2007 3:23pm
PA, fozzy flavor....
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  • #6,743
  • Oct 3, 2007 3:32pm Oct 3, 2007 3:32pm
Quoting the_wizard
Instinct
I'm still working on mine..

Quoting the_wizard
If you catch it like you did it's a great trade in terms of r:r but I mean that I wouldn't trade it conservatively on a break of the pin. Simply because I feel it won't fall far before it tests the highs again.
got it, unless we'll see carry unwind, it might not go much lower.
I just took an opportunity before tomorrow's rate news, approaching nonfarm and test of July's high........
It wasn't conservative for sure...
  • #6,744
  • Oct 3, 2007 3:41pm Oct 3, 2007 3:41pm
Quoting the_wizard
I personally don't like this and wouldn't trade it short but I know some of you may
Hey WIz, looks like a third rejection to me?
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  • #6,745
  • Oct 3, 2007 4:14pm Oct 3, 2007 4:14pm
Quoting raczekfx
PA, fozzy flavor....
I'm waiting for a break below the red trend line on the 4 hour.........then it's all downhill from there.
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  • #6,746
  • Oct 3, 2007 7:24pm Oct 3, 2007 7:24pm
I'm keeping a close eye on all the xxxCHF pairs.
USD, EUR, GBP all look like they're at important spots.
They'll either hit a resistance ceiling and go down or break through and continue their recent strong uptrends.

As you can see, I like making bold specific predictions. :
I let the price tell me what do in areas like these.

Tom
  • #6,747
  • Oct 3, 2007 8:31pm Oct 3, 2007 8:31pm
Quoting moneybags
I'm keeping a close eye on all the xxxCHF pairs.
USD, EUR, GBP all look like they're at important spots.
They'll either hit a resistance ceiling and go down or break through and continue their recent strong uptrends.

As you can see, I like making bold specific predictions. :
I let the price tell me what do in areas like these.

Tom
... some predictions Tom...
either up or down....
  • #6,748
  • Oct 3, 2007 9:23pm Oct 3, 2007 9:23pm
Quoting raczekfx
... some predictions Tom...
either up or down....
haha. Absolutely.

I'm 100% positive they will either go up or down. I'd bet my life on it.
  • #6,749
  • Oct 3, 2007 9:34pm Oct 3, 2007 9:34pm
Quoting moneybags
haha. Absolutely.

I'm 100% positive they will either go up or down. I'd bet my life on it.
Be careful, famous last words... the evil market maker gods will ensure that they keep the market sideways so as to get your soul...
  • #6,750
  • Oct 3, 2007 9:55pm Oct 3, 2007 9:55pm
This is still one of my favorite set-ups... I don't know if it can be called PA, but it does work very well... and exceptionally well on GBP/USD

Put fibs on daily High and Low... Look for price to curl up and touch the first fib line or the 62 ems (red)

I can find this set up almost every day on at least one pair... works going up or down... and works on many time frames... just click the time frames and find the one where it looks best to work...

In this case, go long after low of the day. Take profit at 1st fib or 62 ema whichever comes first... then off to bed... !!!
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  • #6,751
  • Oct 3, 2007 11:26pm Oct 3, 2007 11:26pm
Quoting Tiki Trader
In this case, go long after low of the day. Take profit at 1st fib or 62 ema whichever comes first... then off to bed... !!!
You mean the low of the previous day? Because, I can't know the low of the day until the day is over. I'm probably just misreading what you're saying...? I don't get what you mean in your example about going long after the low of the day, sorry.
  • #6,752
  • Oct 4, 2007 3:17am Oct 4, 2007 3:17am
Raczekfx!!!!!!!!!!!!

WAKE UP!

LOOK WHAT'S HAPPENING!


P.S. Grids rule.
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Trust price. Know yourself.
  • #6,753
  • Edited 6:35am Oct 4, 2007 5:52am | Edited 6:35am
Quoting SeekingLight
Raczekfx!!!!!!!!!!!!

WAKE UP!

LOOK WHAT'S HAPPENING!


P.S. Grids rule.
Man..., have a mercy. I'm in EST.
Went to bed at 2:30AM and got up at 6am....

p.s.
you know my unpopular view on dj for october... d & h.... This is why I'm mainly hooked on yen for now ..
look at this beautiful vegas trades off the tunnel... there is some good PA...too bad man disappeared from this earth..


.
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  • #6,754
  • Oct 4, 2007 7:58am Oct 4, 2007 7:58am
Quoting JoshDance
You mean the low of the previous day? Because, I can't know the low of the day until the day is over. I'm probably just misreading what you're saying...? I don't get what you mean in your example about going long after the low of the day, sorry.
JD..............if you look at the dates and times on the bottom of TK's chart, it appears he is referring to the previous day's low or high. Right Tiki?
  • #6,755
  • Oct 4, 2007 9:12am Oct 4, 2007 9:12am
Quoting BeachBum
JD..............if you look at the dates and times on the bottom of TK's chart, it appears he is referring to the previous day's low or high. Right Tiki?
I see BB, yes you're right. I dunno, looks to me more like guesswork, and I wouldn't say price action has much to do with it, as we're just buying at a low point, hoping it will retrace...
  • #6,756
  • Oct 4, 2007 9:42am Oct 4, 2007 9:42am
It's not advisable to take the other side of my positions

Seriously though...when the 50ema is sloping up, never short directly into the 10ema.

Reverse that rule for longs and you will increase your odds of staying out of many losing trades.
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  • #6,757
  • Oct 4, 2007 9:44am Oct 4, 2007 9:44am
Anyone any thoughts on the EURCHF bounces striaght off a strong resistance level approx 16673.........more of a gravestone Doji than a pin ......???
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  • #6,758
  • Oct 4, 2007 9:46am Oct 4, 2007 9:46am
Quoting mimas
Anyone any thoughts on the EURCHF bounces striaght off a strong resistance level approx 16673...............???
Hey mimas,

Don't take that pin short.
At the same time don't consider going long until it breaks the triple top.

Just my thoughts
  • #6,759
  • Oct 4, 2007 9:54am Oct 4, 2007 9:54am
Quoting the_wizard
Hey mimas,

Don't take that pin short.
At the same time don't consider going long until it breaks the triple top.

Just my thoughts
Hi Wizard,
Thanks for the tip, just a quick one why would you not short it ???
Going against trend ?????

Stay Lucky
  • #6,760
  • Oct 4, 2007 9:56am Oct 4, 2007 9:56am
Quoting the_wizard
Don't take that pin short.
We really shouldn't be telling others how to trade nor be giving any direct trade advice.

This thread is to discuss and teach the PA patterns - not to influence people's trading! (important!)

("personally, that looks iffy to me / I probably wouldn't take it / I'd be worried about factor x y and z" ...whatever...but, er, not "do x / don't do x" - we're already pretty much pushing it by discussing stuff ahead of time..)
Trust price. Know yourself.
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