james16 Chart Thread | Page 375 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #7,481
  • Nov 7, 2007 5:01pm Nov 7, 2007 5:01pm
Quoting SeekingLight

What I am seeing is: once the market's already gone and done a 2-500 pip nosedive, everyone suddenly sees bearish setups. Well, yes, that's because the chart is already bleeding red.
:
I understand your point entirely SL, but I do have a question for debate. Why wouldn't anyone see bearish setups in a downtrend? If you take the chart that you are clearly seeing a 200-500 pip downmove, then wait until the week's end, you could quite possibly see a bearish engulfing. That would infer that there will be more downwards movement throughout the coming weeks. Yes, I understand that entering short after a monster move based on your impulses is ridiculous, dumb, and could easily end as a loss. Instead, if you were to wait, then it could turn into a long term trade, in which you could capitalize on very easily. What do you think?
I dream, therefore I become.
  • #7,482
  • Nov 7, 2007 5:27pm Nov 7, 2007 5:27pm
Not really finishing the day as a 2 day Pin... but either way... I don't think CAD is finished... just that it has to stop at some point and get some more gas for the next push... maybe even a couple of days back up... but winter has not yet even begun to set in... oil prices are going to go up lots still, and if nothing else, gasoline and heating costs are going through the roof this winter... to me that means USD/CAD Down...

If anything, for once, I will use this little retrace as a chance to get on the trend... question will be if Tiki can recognize the PA chance when it comes along... price did not hit 0.90... close, but it's going to aim for that big round number... you think it's going to come within 50 pips and decide not to make it ??? I say no way... !!

I will bet a 6 pack USD/CAD 0.85 by year end... as if I am qualifed to to bet anything... PM me for the bet.... make sure you pick a 6 pack of something chaep !!! I like cheap champagne...


Quoting creeper
We have a two day pinbar at a swing low on this pair. However, there is a VERY strong downtrend that has been lasting for the complete year now. Besides, there is no consolidation or resistance above the pinbar. It could be a reversal point but I wont play this one because of the strong anti dollar trend on all majors.

Chris
  • #7,483
  • Nov 7, 2007 5:35pm Nov 7, 2007 5:35pm
OK, what to do in a case like this one. I missed the break of the pin as I had just woken up and that thing moved way to fast for my half asleep brain and now it just retraced back to the break area... Chance to get back in? Or is the move probably already done? Or better wait until London opens to see what will happens? Any though on how to trade a pin after it breaks and then retraces back to entry like that? Thanks to everyone here for the great information. Sebastien
Attached Image (click to enlarge)
Click to Enlarge Name: aus-usd.gif Size: 14 KB
  • #7,484
  • Nov 7, 2007 5:40pm Nov 7, 2007 5:40pm
Quoting Tiki Trader
Not really finishing the day as a 2 day Pin... but either way... I don't think CAD is finished... just that it has to stop at some point and get some more gas for the next push... maybe even a couple of days back up... but winter has not yet even begun to set in... oil prices are going to go up lots still, and if nothing else, gasoline and heating costs are going through the roof this winter... to me that means USD/CAD Down...
I'm not entitled to post my opinion, but I asked my 5 year old and he said: NO

Quoting Tiki Trader
I will bet a 6 pack USD/CAD 0.85 by year end...
lol...I asked him again and he said: NO....
  • #7,485
  • Edited 6:16pm Nov 7, 2007 6:01pm | Edited 6:16pm
Quoting OGW
OK, what to do in a case like this one. I missed the break of the pin as I had just woken up and that thing moved way to fast for my half asleep brain and now it just retraced back to the break area... Chance to get back in? Or is the move probably already done? Or better wait until London opens to see what will happens? Any though on how to trade a pin after it breaks and then retraces back to entry like that? Thanks to everyone here for the great information. Sebastien
Flip a coin. Just kidding, I wouldn't trade it until it shows some more promising direction around a pz area. Really what I am trying to say is that I don't trust it for either direction using daily.
  • #7,486
  • Nov 7, 2007 6:04pm Nov 7, 2007 6:04pm
Quoting Tiki Trader
but winter has not yet even begun to set in... oil prices are going to go up lots still, and if nothing else, gasoline and heating costs are going through the roof this winter...
...
Tiki, You just made me think im the biggest idiot in the world. Why not buy oil on the next dip? I plan on it now. I live up north, I shouldh ave had that rationale for buying oil.
I dream, therefore I become.
  • #7,487
  • Nov 7, 2007 6:07pm Nov 7, 2007 6:07pm
Could you please ask him for his opinion though ??

Would he be more interested in a 6 pack of cola or apple juice ????

I can't get an opinion or anything from my 5 year old right now, cause she is cranky tonight for some reason... means I have no trade ideas for tonight either !!

Quoting raczekfx
I'm not entitled to post my opinion, but I asked my 5 year old and he said: NO


lol...I asked him again and he said: NO....
  • #7,488
  • Nov 7, 2007 6:23pm Nov 7, 2007 6:23pm
Quoting raczekfx
my kinds only drink water....
Thats no fun, then you dont get to experience insanity. lol
I dream, therefore I become.
  • #7,489
  • Nov 7, 2007 6:23pm Nov 7, 2007 6:23pm
Quoting Tiki Trader
Could you please ask him for his opinion though ??

Would he be more interested in a 6 pack of cola or apple juice ????

I can't get an opinion or anything from my 5 year old right now, cause she is cranky tonight for some reason... means I have no trade ideas for tonight either !!
He read your post and gave an answer in capitals already....
nuh, no 6 pack, no juice..no pop.... my kinds only drink water...

Quoting mike w
Tiki, You just made me think im the biggest idiot in the world. Why not buy oil on the next dip? I plan on it now. I live up north, I shouldh ave had that rationale for buying oil.
don't be to harsh on yourself.... pull the charts and check what oil did in the last 5 years .... october-january period......

,..and let's see what's happening on weekly.....
Attached Image
  • #7,490
  • Nov 7, 2007 6:30pm Nov 7, 2007 6:30pm
Quoting Tiki Trader
I can't get an opinion or anything from my 5 year old right now, cause she is cranky tonight for some reason... means I have no trade ideas for tonight either !!
Yeah, my four month old just crapped his pants. I think that's a sure signal of impending doom.
Mr. Trend
  • #7,491
  • Nov 7, 2007 6:30pm Nov 7, 2007 6:30pm
Quoting raczekfx
He read your post and gave an answer in capitals already....
nuh, no 6 pack, no juice..no pop.... my kinds only drink water...



don't be to harsh on yourself.... pull the charts and check what oil did in the last 5 years .... october-january period......

,..and let's see what's happening on weekly.....
This is very true, its pullback time if that candle closes as a pin. As I said before though, Once the retracement happens I'd gladly buy back in. this is because I dont think Ethanol is a good replacement for oil, and I think that because people stay in routine more often than not, they will stick with oil instead of going electric. Human nature is always a sure sign of whats going to happen. Its just like fads that you see come and go. They are always incredibly easy to capitalize on. I personally think yoyo's are gonna make a comeback, then its on for plastic and company names that sell them. This is because fads tend to come back after a while. I remember reading something when I was about 8 years old about yoyos coming and going around every 20 or so years. History does tend to repeat itself only because of our nature as humans to act repetitively.
I dream, therefore I become.
  • #7,492
  • Nov 7, 2007 6:46pm Nov 7, 2007 6:46pm
Impending doom....I'm going to buy yoyos.
  • #7,493
  • Nov 7, 2007 7:05pm Nov 7, 2007 7:05pm
Quoting HipsterPipster
Impending doom....I'm going to buy yoyos.
Im with you man...
I dream, therefore I become.
  • #7,494
  • Nov 7, 2007 7:09pm Nov 7, 2007 7:09pm
Quoting mike w
..I dont think Ethanol is a good replacement for oil, and I think that because people stay in routine more often than not, they will stick with oil instead of going electric. ...
.
not ethanol... other technologies are already in use.. but it will be a while before 'regulars' are able use them...
oil 'cartels' have many interesting patents collecting dust ....
I hope that those high oil prices will speed up our tech. r/evolution..
  • #7,495
  • Nov 7, 2007 7:10pm Nov 7, 2007 7:10pm
Man I have no idea why I am posting on things I never had any opinion about before... and more, things I know so little about... helps to show my ignorance even more... but Ethanol has already been proven to be an idea that just is not going to work... we can't produce enough corn, we won't have any cereal to eat, and those prices are going up already... it takes almost as much energy to produce ethanol, as the ethanol gives back... it's all just a delaying tactic and a way to make the corn farmers happy...

On the other hand, Brazil is making ethanol from sugar... and they also are now energy independent

Quoting mike w
This is very true, its pullback time if that candle closes as a pin. As I said before though, Once the retracement happens I'd gladly buy back in. this is because I dont think Ethanol is a good replacement for oil, and I think that because people stay in routine more often than not, they will stick with oil instead of going electric. Human nature is always a sure sign of whats going to happen. Its just like fads that you see come and go. They are always incredibly easy to capitalize on. I personally think yoyo's are gonna make a comeback, then its on for plastic and company names that sell them. This is because fads tend to come back after a while. I remember reading something when I was about 8 years old about yoyos coming and going around every 20 or so years. History does tend to repeat itself only because of our nature as humans to act repetitively.
  • #7,496
  • Nov 7, 2007 7:16pm Nov 7, 2007 7:16pm
I think it is also not so much time in the future that suddenly we are going to hear of some important oil feild drying up... and then there will be some real movement in the markets...
  • #7,497
  • Nov 7, 2007 7:18pm Nov 7, 2007 7:18pm
Can you post a chart of monthlies ??? Danged if I can find one... I think this year may be different... this summer season did not go as usual where gas prices came down after summer driving season, instead they are now going up... they are going to get us in the winter this year !!! And an extra cold winter is predicted, which in itself helps oil prices go up...

Quoting raczekfx
He read your post and gave an answer in capitals already....
nuh, no 6 pack, no juice..no pop.... my kinds only drink water...



don't be to harsh on yourself.... pull the charts and check what oil did in the last 5 years .... october-january period......

,..and let's see what's happening on weekly.....
  • #7,498
  • Nov 7, 2007 7:46pm Nov 7, 2007 7:46pm
Quoting Tiki Trader
Can you post a chart of monthlies ??? Danged if I can find one... I think this year may be different... this summer season did not go as usual where gas prices came down after summer driving season, instead they are now going up... they are going to get us in the winter this year !!! And an extra cold winter is predicted, which in itself helps oil prices go up...
heavy winter usually means less travel..
Attached Image
  • #7,499
  • Nov 7, 2007 7:49pm Nov 7, 2007 7:49pm
Yes but heavy winter means lots more heating oil going to heat homes. Average in Northeast was about $ 800, for winter season, this year predicted to be double that...


Quoting raczekfx
heavy winter usually means less travel..
  • #7,500
  • Nov 7, 2007 7:53pm Nov 7, 2007 7:53pm
And THX for the chart... where can I get one too...??? Seems not so easy to come by...

Quoting raczekfx
heavy winter usually means less travel..
142 traders viewing now