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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

  • #7,081
  • Oct 18, 2007 10:28am Oct 18, 2007 10:28am
Quoting HipsterPipster
Look at the one hour.....I won't play it.... too much uncertainty with the underlying influences.

i think that if it closes like that and will break - the uncertainty will vanish, i am not saying that its the best play of the day if you take a look at what happenned but hey - its still a very nice formation of a PB.

yet - if one feels not playing this one - than cool, you can wait for the daily to close, after all i am always saying that a good PB on lower TF will make it to the higher TF to show PA, isnt it like that?
  • #7,082
  • Oct 18, 2007 10:44am Oct 18, 2007 10:44am
Quoting SeekingLight
As long as the USD dives, I doubt oil will fall, simple as that.
Is the US dollar diving again?
  • #7,083
  • Oct 18, 2007 10:45am Oct 18, 2007 10:45am
I'm seeing a 4hr pin on the gbp/usd
around the top of the range for the last few days.
  • #7,084
  • Oct 18, 2007 10:57am Oct 18, 2007 10:57am
This needs to close but is beautiful.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 184 KB
  • #7,085
  • Oct 18, 2007 11:02am Oct 18, 2007 11:02am
Quoting HipsterPipster
This needs to close but is beautiful.
I am taking this via GJ. I need to keep an eye on UJ though.
  • #7,086
  • Oct 18, 2007 11:04am Oct 18, 2007 11:04am
Quoting the_wizard
Is the US dollar diving again?

You tell me
Attached Image
Trust price. Know yourself.
  • #7,087
  • Oct 18, 2007 11:25am Oct 18, 2007 11:25am
Where can i get MT4 charts of USDX ??

I am using alpari... and I know MIGs MT4 also doesn't have it...


Quoting SeekingLight
You tell me
  • #7,088
  • Oct 18, 2007 11:36am Oct 18, 2007 11:36am
Quoting Tiki Trader
Where can i get MT4 charts of USDX ??

I am using alpari... and I know MIGs MT4 also doesn't have it...
http://forexfactory.com/showthread.php?t=39722

Or just look at the EURUSD, that's around 50+% of the USDX.
Trust price. Know yourself.
  • #7,089
  • Oct 18, 2007 11:41am Oct 18, 2007 11:41am
Quoting HipsterPipster
This needs to close but is beautiful.
My first input on PA....I would be careful of the old resistance around 2.0430. Could be some solid support.
  • #7,090
  • Oct 18, 2007 11:47am Oct 18, 2007 11:47am
Quoting Caesar
My first input on PA....I would be careful of the old resistance around 2.0430. Could be some solid support.
Yepers, that and around .0440.
  • #7,091
  • Oct 18, 2007 11:51am Oct 18, 2007 11:51am
Quoting Caesar
My first input on PA....I would be careful of the old resistance around 2.0430. Could be some solid support.
The way I look at it:
Unless we can close above above 2.05, gravity might pull cable down. I see support around following price areas:
2.0350, 2.0230 and 2.0130.... then 2.0, 1.99, 1.97.....
Attached Image
  • #7,092
  • Oct 18, 2007 12:01pm Oct 18, 2007 12:01pm
Quoting raczekfx
The way I look at it:
Unless we can close above above 2.05, gravity might pull cable down.

Yer jest an' pessimistic ole miser, is what you is!

First nosepeek above that ugly formation and you're already wishing it back in the dumps ;p
Trust price. Know yourself.
  • #7,093
  • Edited 12:46pm Oct 18, 2007 12:35pm | Edited 12:46pm
Dang, was busy at work, I missed the 4 hr PB on the GBPUSD.

Good call!

I am on the FX Game, I need to learn. So I took the trade at 2.0493, set the profit target to 2.0410 and the stop loss to 2.0510.

Lets see which way this sucker breaks.
  • #7,094
  • Oct 18, 2007 1:19pm Oct 18, 2007 1:19pm
Quoting unlv_tj
Dang, was busy at work, I missed the 4 hr PB on the GBPUSD.

Good call!

I am on the FX Game, I need to learn. So I took the trade at 2.0493, set the profit target to 2.0410 and the stop loss to 2.0510.

Lets see which way this sucker breaks.
Watch yerself...
  • #7,095
  • Oct 18, 2007 1:30pm Oct 18, 2007 1:30pm
Quoting HipsterPipster
Watch yerself...
Hehe, now I read it, I sound like a real gun slinger.

I agreed it was a strong PB, and I do feel I missed the easy start to the downward movement, the PB was strong enough to still take a calculated risk at gaining some Pips.

I am following it closely though.

  • #7,096
  • Oct 18, 2007 1:32pm Oct 18, 2007 1:32pm
Quoting unlv_tj
Hehe, now I read it, I sound like a real gun slinger.

I agreed it was a strong PB, and I do feel I missed the easy start to the downward movement, the PB was strong enough to still take a calculated risk at gaining some Pips.

I am following it closely though.

Still looks good, just need to be careful.
  • #7,097
  • Oct 18, 2007 1:47pm Oct 18, 2007 1:47pm
Quoting raczekfx
The way I look at it:
Unless we can close above above 2.05, gravity might pull cable down. I see support around following price areas:
2.0350, 2.0230 and 2.0130.... then 2.0, 1.99, 1.97.....
I think I agree here !!! So far today we have retrace back to the 38 fib of the high and low of the day... that's about it... and someone around here has been teaching me to be more careful of these fake out PBs... if you can really call it a PB...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 14 KB
  • #7,098
  • Oct 18, 2007 1:47pm Oct 18, 2007 1:47pm
Quoting the_wizard
Will this take a nosedive here?


Quote
[..] no[..]
Quoting the_wizard
Is the US dollar diving again?


Still doing it..

This is what I meant - EURUSD kept going / holding steady, now look at oil(and no IT IS NOT USDCAD to blame, it's mainly the USD, but talk of War and images of burning oil fields on the news prooolly helps, too, I will admit that much):

Trading WITH the trend = usually easier + more $$$ (or, hopefully, NOT $$$, but EUR right now ).
Attached Image
Trust price. Know yourself.
  • #7,099
  • Oct 18, 2007 1:48pm Oct 18, 2007 1:48pm
Quoting HipsterPipster
Still looks good, just need to be careful.
Carefully shorted GJ at 236.61, at BE now. Could still get blown out.
  • #7,100
  • Oct 18, 2007 1:50pm Oct 18, 2007 1:50pm
Sorry I don't read all the posts about oil, so sorry if this is a dumb question... but are you saying that it is the weakening of the dollar that makes the oil price go higher ???

Quoting SeekingLight
[/i]

Still doing it..

This is what I meant - EURUSD kept going / holding steady, now look at oil(and no IT IS NOT USDCAD to blame, it's mainly the USD):
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