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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

  • #7,281
  • Oct 28, 2007 2:46pm Oct 28, 2007 2:46pm
Quoting Tiki Trader
Weekly

I won't ask for opinions this week,as I did last week... if the Pin works, I am ready, if it does not... I lose nothing !!! And yes I know it is not such a great Pin..
I don't know how to read this together but, check out the monthly chart.
Target: Trading naked.
  • #7,282
  • Oct 28, 2007 3:07pm Oct 28, 2007 3:07pm
I probably am just not qualified to see much of anything... just seems to me there is a breakout coming... but I cannot decide which way I think it might go...

I want to say down becuase of the H & S... but the main trend is up...

Quoting aha
I don't know how to read this together but, check out the monthly chart.
  • #7,283
  • Oct 28, 2007 3:27pm Oct 28, 2007 3:27pm
one thing i have learnt.
Dont try to think which way the market will go. let it show you ..
there is no rush the market is allways there.
Tiki.. are you using mouteki as well or are you getting good at drawing trend lines.lol..
  • #7,284
  • Oct 28, 2007 4:09pm Oct 28, 2007 4:09pm
Tendline ?? What trend line ??

Naaaaaaw.... for some reason I seem to have missed the classes on trend lines and I think also support and resistance... then when I read in J16, I always get reminded that it might just help to draw a couple of lines here and there !!! ( and it does help huh ?? ) Mouteki I don't know anything about... I hope your comment though means I am improving in what i see and draw on charts... though you can always count on them being super simple... I just have no desire to go deep, and I refuse to believe that I cannot be profitable though super simple...

Are my charts better now than before ????

Quoting rustyjeff
one thing i have learnt.
Dont try to think which way the market will go. let it show you ..
there is no rush the market is allways there.
Tiki.. are you using mouteki as well or are you getting good at drawing trend lines.lol..
  • #7,285
  • Oct 28, 2007 5:43pm Oct 28, 2007 5:43pm
Quoting mamutot
well, this is the 1st weekly PB i manage to see before looking at it from the future - what i mean is that i always get to see PB's on their weekly formation about 2 months after they appear.


CHFJPY

I have took that trade. I normally trade off the day charts but on FXDD this is a better looking pin than i normally see. I put my SL just below the resistance and put in a tp of 100 for now. A lot of yen crosses seem to be pinnish on the weeklys. I guess we will see what happens.
  • #7,286
  • Oct 28, 2007 5:46pm Oct 28, 2007 5:46pm
I don't know why my chart did not load up on my previous reply....
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  • #7,287
  • Oct 28, 2007 6:07pm Oct 28, 2007 6:07pm
Been looking at the last candle here on GBP/JPY for about 6 hours now... finally dawns on me that the candle itself is just wrong... how can it show up like that ??? Alpari has all the other time frames right... but not the monthly... how can this be...?
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  • #7,288
  • Oct 28, 2007 6:59pm Oct 28, 2007 6:59pm
Tiki,

It is a data error. Here is what it should look like:
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  • #7,289
  • Oct 28, 2007 7:10pm Oct 28, 2007 7:10pm
Quoting the_wizard
Tiki,

It is a data error. Here is what it should look like:
Im not sure if anyone really practices elliot wave theory and puts it to use but this could be the top of the B wave correction. After this, the c wave downwards would be larger than the A wave downwards. Either way, the month isn't over yet, so we can't really tell anything at the moment based on the monthly chart. Any other thoughts on this idea of it?
I dream, therefore I become.
  • #7,290
  • Oct 28, 2007 7:11pm Oct 28, 2007 7:11pm
Just about all of the yen crosses have pins, just on the weekly. Not monthly.
  • #7,291
  • Oct 28, 2007 7:12pm Oct 28, 2007 7:12pm
Yes, I finally figured out what is should look like.... well I looked on some other paltforms... just don't know how that can be though... very glaring mistake !!

Quoting the_wizard
Tiki,

It is a data error. Here is what it should look like:
  • #7,292
  • Oct 28, 2007 7:16pm Oct 28, 2007 7:16pm
Quoting Tiki Trader
Yes, I finally figured out what is should look like.... well I looked on some other paltforms... just don't know how that can be though... very glaring mistake !!
Don't trade it Tiki, don't trade it! Ok, JK.
  • #7,293
  • Oct 28, 2007 7:43pm Oct 28, 2007 7:43pm
Oh Oh !!!

Quoting HipsterPipster
Don't trade it Tiki, don't trade it! Ok, JK.
  • #7,294
  • Oct 29, 2007 9:44am Oct 29, 2007 9:44am
Hi everyone. I've been following this thread "secretly" for a while now... Thanks to everyone for the great information. Here is one 4 hours pin close to the previous high. Anyone would play it? I'm hesitating 'cause it is against the trend... Sebastien
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  • #7,295
  • Oct 29, 2007 9:57am Oct 29, 2007 9:57am
Quoting OGW
Hi everyone. I've been following this thread "secretly" for a while now... Thanks to everyone for the great information. Here is one 4 hours pin close to the previous high. Anyone would play it? I'm hesitating 'cause it is against the trend... Sebastien
If I'm not sure what to do on a smaller time frame, I always look at a larger picture to see the odds ...

p.s.
I have a limit sell set 2.0644 (this is not recommendation to trade, but rather part of my risky strategy)
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  • #7,296
  • Oct 29, 2007 10:57am Oct 29, 2007 10:57am
Quoting raczekfx
I've set limit buy 'around' 1.6666...
If carry unwind tomorrow, price won't stop there, but there is always a chance of a good bounce off this confluence...
few days later.....
patience, patience, patience...
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  • #7,297
  • Oct 29, 2007 11:25am Oct 29, 2007 11:25am
Nice work Mark!
I'm in on that one with you.
Let's see how far this sucker goes.

Tom
  • #7,298
  • Oct 29, 2007 4:13pm Oct 29, 2007 4:13pm
Remember there is interest rate decision on Weds afternoon... not likely prices will move so much before then and if US interest rate goes down... likely EUR and GBP will go up...

New record highs for oil last night... ( or record lows for the US dollar ) also contributes to GBP not wanting to come down... Look at CAD !!! I am actually thinkg to go short there... obviously we are now heading for $ 100 a barrel well before the end of the year...




Quoting moneybags
Nice work Mark!
I'm in on that one with you.
Let's see how far this sucker goes.

Tom
  • #7,299
  • Oct 29, 2007 4:30pm Oct 29, 2007 4:30pm
I'm really curious about how low the USDCAD can go. I honestly didnt think it would ever go below 0.9500 but here we are.
Any experts wanna weigh in on this? How long can this stay on this side of parity?
Obviously I'm a TA guy so these things are not within my realm.
  • #7,300
  • Oct 29, 2007 4:48pm Oct 29, 2007 4:48pm
Just for the heck of it I am going to short to 0.90...

Quoting moneybags
I'm really curious about how low the USDCAD can go. I honestly didnt think it would ever go below 0.9500 but here we are.
Any experts wanna weigh in on this? How long can this stay on this side of parity?
Obviously I'm a TA guy so these things are not within my realm.
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