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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

  • #1,761
  • Dec 23, 2006 11:04pm Dec 23, 2006 11:04pm
nevermind this is gonna turn into one of these meaningless back and forths. I was born in 1983 though so there

As long as eveyrone is making pips im happy

Have fun and the bbq bundy and yes 4 hr seems to be very reliable i agree

Mike
  • #1,762
  • Dec 23, 2006 11:14pm Dec 23, 2006 11:14pm
AWE... Come on Mike!! You can't give up that easy?

I have a bottom. I'm pretty sure the last time I measured from each cheek to the floor they were at slightly different heights.
Bundy's status today: "Waiting..."
  • #1,763
  • Dec 23, 2006 11:16pm Dec 23, 2006 11:16pm
Quoting bundyraider
AWE... Come on Mike!! You can't give up that easy?

I have a bottom. I'm pretty sure the last time I measured from each cheek to the floor they were at slightly different heights.
  • #1,764
  • Dec 24, 2006 2:34am Dec 24, 2006 2:34am
a joke for you guys. BB king was about to have a birthday. his wife thought i am going to do something special for ole BB this year. she went out and had a B tattoo'd on each cheek. she came home and said BB honey i have something very special for your birthday. she dropped her drawers and bent over. BB said thats great honey but who's BoB.

sorry ive had a few tonight and unlike bundy im scared to walk home from the pub. LOL.

Quoting mbqb11
  • #1,765
  • Dec 24, 2006 2:39am Dec 24, 2006 2:39am
rofl too funny

speaking of BB i just bought my little bro a dvd of him with clapton vaughn and such for xmas
  • #1,766
  • Dec 24, 2006 4:41am Dec 24, 2006 4:41am
Quoting james16
yep. i took my first sip in the 8th grade. 2 beers and a bowl. got home and my old man told me to take out the garbage. i took it to my room . if that dont raise a red flag nothing does. he almost killed me. i will never forget it. he told me boy i brought you into this world and i can take you out. scared me to death and i never risked it again around him. he was the best and i owe much to him, god rest his soul.
Reminds me of my father. I'm very grateful he brought me up the way he did.
  • #1,767
  • Dec 24, 2006 4:51am Dec 24, 2006 4:51am
Quoting bundyraider
It gets like that doesn't it!? LOL

I'm waiting for a mate to pick me up for a Xmas eve BBQ.
Filling in time by drawing my trendlines and fibs for the week ahead.

What timeframes do y'all use for swing highs/lows ???

Edit: By that, I mean for trend line anchor points.

I've been finding the 4 hour Charts pretty powerful.
Stupid question, is the market open tomorrow?
  • #1,768
  • Dec 24, 2006 7:02pm Dec 24, 2006 7:02pm
Open


from OCM1

Quoting Squash
Stupid question, is the market open tomorrow?
Holiday Spam
  • #1,769
  • Dec 24, 2006 7:11pm Dec 24, 2006 7:11pm
Quoting ocm1
Open


from OCM1
although some brokers might not let you to place orders. FB for example
  • #1,770
  • Dec 25, 2006 2:07am Dec 25, 2006 2:07am
Quoting syd360
although some brokers might not let you to place orders. FB for example
Wow, I thought they would be shut. I'm guessing that there wont be much action today? I don't see any good PA setups anyway so I'll prob stay out.
  • #1,771
  • Dec 25, 2006 3:50am Dec 25, 2006 3:50am
Quoting bundyraider
Weekly GBPCHF

WELL WELL, look at this ...We have divergence forming on the weekly chart!

Couldn't have found a better example there GT. You've made it easy choosing this pair.

I've left the original yellow lines from your chart to show the 4 hr divergence

Obviously the pink ones are the new ones.
Thought I'd join in on the divergence issue, while I'm waiting for my son to wake up. I love the Bollinger Band/Stochastic combination. Same pair, same divergence, different indicators. Pin Bar right at the top. Now we just need to find a nice entry point.
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Keeping it Simple
  • #1,772
  • Dec 25, 2006 4:59am Dec 25, 2006 4:59am
Btw, since EURUSD and GBPUSD are more or less synched (even with a steadily declining EURGBP) the crosses like EJ and GJ usually go tandem as well as the others like EURCHF and GBPCHF.

Just saying because we just had the EURCHF discussion a few posts back and had an inside bar there, best example of the slowing upward momentum and indecision
So I guess this is now reflected on GBPCHF as well.

So question is....is it solely CHF strength then or is GBPUSD going to drop a short while after the double bottom and short term pins nudge it up a bit again?


Hope everyone's getting great presents today!

Merry Xmas to those 1 day late folks across the atlantic!
Trust price. Know yourself.
  • #1,773
  • Dec 25, 2006 6:00am Dec 25, 2006 6:00am
Looks like a set up My broker is closed today so hopefully not to big a move will happen. More then likely not.
Quoting habeeb
Thought I'd join in on the divergence issue, while I'm waiting for my son to wake up. I love the Bollinger Band/Stochastic combination. Same pair, same divergence, different indicators. Pin Bar right at the top. Now we just need to find a nice entry point.
  • #1,774
  • Dec 25, 2006 12:31pm Dec 25, 2006 12:31pm
I won't have much time to trade myself every days so I plan to use a trading machine. I've heard that Avi's Frister trading machine is also based on Price Actions for trading.

Anybody tried it already?
  • #1,775
  • Dec 26, 2006 7:03pm Dec 26, 2006 7:03pm
Update on the Daily Inside bar trade from late last week.

The trade missed my 23% fib retracement by 2 Pips!!

This appears to be strong resistance at the moment, so on boxing day I moved the 1st target up 3 pips to an even 1.6010 (1.6014 with spread) and it was hit not long after. I didn't know until now though.

The other half of the position is still set with same stop-loss level. Which makes for a free trade now. I need the breathing room. If it hits my stop I'll have 1 - pip profit from the total play.

BTW, the stop level I had shown originally is my ACTUAL stop price. Because of spread, the chart shown only has to get to 1.6037 to trigger it . I screwed up the drawing there. All fixed in the below chart

Now here's greed for you.... Originally I was going to set my 1st profit target to 1.6015 (that's WITH spread) . To me that wasn't enough pips!!! So I decided to stick closer to the 23% line. ....Usually there's no problem. ...Majority of the time you will get a slight overshoot anyway. ...For me, this is all a psychological problem with trading a low volatility chart.(Or low time frames on some other pairs) There just isn't much movement to play with on this one. Especially at the moment. When I got in at 1.6027, I wasn't happy with a potential 12 pips!! LOL

As of now, I see no compelling reason to exit a free trade. All price action appears pretty much neutral. I'm entering 1.5986 as a profit target for this remaining lot. Close to the 38.2% fib line for one. But to me, I think we may head up now.

The daily chart pretty much gives us a Double Bar low to use as a break point (1 pip off). This corresponds with the blue resistance area on the 4 Hour chart below. Though I won't be putting a short order below there as there is potential strong resistance from the 1.6000 level from 12th Nov. I could set an order below that... but the next profit target is getting too close. I'd rather let the free trade roam down that way.

, Bundy
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Bundy's status today: "Waiting..."
  • #1,776
  • Dec 27, 2006 1:43am Dec 27, 2006 1:43am
Quoting habeeb
Thought I'd throw up a last chart before we all go our own ways for the long weekend. 4hr Pin on cable closing below the trendline resistance and also under the 50fibo. I'm short, targetting the yellow trendline first, then the purple one.
http://www.forexfactory.com/forexfor...id=17189&stc=1
Targets eventally hit, although I was out when we had a possible double-low forming.
Keeping it Simple
  • #1,777
  • Dec 27, 2006 1:45am Dec 27, 2006 1:45am
Here's the chart I posted in my journal in the PF yesterday, of a possible inverted head-n-shoulders. So far so good.
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Keeping it Simple
  • #1,778
  • Dec 27, 2006 4:09am Dec 27, 2006 4:09am
Pin Bar off 50fibo on 1hr cable chart. Looks like price is riding this trendline. Went long from 1.9584.
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Keeping it Simple
  • #1,779
  • Dec 27, 2006 5:08am Dec 27, 2006 5:08am
The pin bar on Gold is still running. Might test the 633 level. Cable will probably follow Gold's lead to test 1.9700.
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Keeping it Simple
  • #1,780
  • Dec 27, 2006 8:10am Dec 27, 2006 8:10am
still over an hour left on this pair but i told everyone ive been keeping a close eye on this pair as its ready to do something adn give some nasty pips. If we can close this 4 hr out as a pinbar I will be jumping on this bad boy

Mike

Hey habeeb
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