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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

  • #8,081
  • Dec 6, 2007 8:24am Dec 6, 2007 8:24am
Quoting TrevA
Hi All

Did anybody take the EURUSD trade today?
I'm waiting to see price behavior at either 1.47 or at the possible neckline right here. Well not neckline necessarily, I don't like HNS that much
But it's support either way.

Raczekfx, it's a 2 bar PB here and a 4h PB on USDCHF if that helps?

Not sure how this will all end up..shame we already were so low on the pairs, no way to make good daily PBs now.
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Trust price. Know yourself.
  • #8,082
  • Dec 6, 2007 8:44am Dec 6, 2007 8:44am
Tiki, since you asked about UJ, I just had this area marked as a place that might "clog" or pause things..another 200 pips and there's another spot..no great bearish setup yet, but I still believe we've got to make one last new low eventually..

Will see.

It's just something I believe, but I got to leave the actual doing something to the chart
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Trust price. Know yourself.
  • #8,083
  • Dec 6, 2007 9:43am Dec 6, 2007 9:43am
Quoting TrevA
Hi All

Did anybody take the EURUSD trade today?

http://www.forexfactory.com/showpost...postcount=7950

As predicted, the price bounced of 1.4520's. It went down to 1.4529 and pulled back quickly.

I don't want to speak too soon but expect 1.4960 to be tested again in the next few weeks.

Great price action too so watch this trade carefully for a fake out.

TrevA

yes, .. almost right on posted PPZ.. with ecb not changing and expected cut in us next week, there was only one direction for fiber .....
  • #8,084
  • Dec 6, 2007 11:52am Dec 6, 2007 11:52am
Quoting raczekfx
Will this become a 4hr PB..? Will find out in a couple of hours...
Rac, My thoughts are we are headed back to 4967 and above in the next month. First we will have to wait for Non-Farm to do it't thing tomorrow.
  • #8,085
  • Dec 6, 2007 12:51pm Dec 6, 2007 12:51pm
Yes you are right about target hit... for me, in this case, the bottom channel line is as far as I was willing to look to... after that it's all up in the air for me... I am out for now on this one...

Quoting SeekingLight
Completed as in target hit, right?
  • #8,086
  • Dec 6, 2007 12:59pm Dec 6, 2007 12:59pm
I understand how you see where things can go lower... I have ideas on that too... But I also see where it could go higher.... but you are very strong in your thoughts about price coming down... I am missing something... some cog in the gear somewhere... or again... I missed class on one of those important days !!!!

Now, I am not refering so much to today or yesterday, but rather this whole idea that USD/JPY and even GBP/JPY should really come down... this is not from you or any other certain person... just seems a concensus overall from everyone...

YES, it helps me be more aware and I have gotten my pips... but on my own I have no idea of why price should come down... except on GBP.JPY because of a giant Head and Shoulders.... but I doubt if anyone more than me is trading it just because of a H & S... especially you....

THX for the answer !!!!

Quoting SeekingLight
Tiki, since you asked about UJ, I just had this area marked as a place that might "clog" or pause things..another 200 pips and there's another spot..no great bearish setup yet, but I still believe we've got to make one last new low eventually..

Will see.

It's just something I believe, but I got to leave the actual doing something to the chart
  • #8,087
  • Dec 6, 2007 1:23pm Dec 6, 2007 1:23pm
Quoting Tiki Trader
I understand how you see where things can go lower... I have ideas on that too... But I also see where it could go higher.... but you are very strong in your thoughts about price coming down... I am missing something... some cog in the gear somewhere... or again... I missed class on one of those important days !!!!
I think I'm just wrong.
Trust price. Know yourself.
  • #8,088
  • Dec 6, 2007 1:39pm Dec 6, 2007 1:39pm
ummmmmmm... I don't know... doesn't look like you missed the class !!!

Yes... we'll see... I just went long on USD/JPY... price has gone above the trend line and come back down to test... bouncing back up... now is good low risk time to get in long... most I can lose is 1/4 of 1%...

Quoting SeekingLight
I think I'm just wrong.
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  • #8,089
  • Dec 6, 2007 3:59pm Dec 6, 2007 3:59pm
Ah haaaaaaaaaaaa.... now you may be on to something !!!!!

Quoting digimix
I think Price Action may be the only true indicator that is reliable.
  • #8,090
  • Dec 6, 2007 4:13pm Dec 6, 2007 4:13pm
Quoting SeekingLight
I think I'm just wrong.
usd jpy ????????
Hey SL and Tiki..... on the chart ... is that a 5-3 wave ? .... it's a 4h view ... if there is short PA setup i tempted taking it, atleast for a short-term, ... onestly the divergence and 150 ema is encouraging me but i'll wait for PA obviously.
Onestly it's the first time that i'm trying to read a chart in SL style .
What do you think?
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  • #8,091
  • Dec 6, 2007 4:29pm Dec 6, 2007 4:29pm
Quoting giusepp8
usd jpy ????????
Hey SL and Tiki..... on the chart ... is that a 5-3 wave ? .... it's a 4h view ... if there is short PA setup i tempted taking it, atleast for a short-term, ... onestly the divergence and 150 ema is encouraging me but i'll wait for PA obviously.
Onestly it's the first time that i'm trying to read a chart in SL style .
What do you think?
Yes about UJ.

I think the current move up looks more like a 5 count itself, which is worrying.

Even if it were an ABC the c would be way, way, way too short yet. Minimum would be .618 x size of A = C. As far as I know at least.

I would have asked Traex about all this, but he seems to have gone on hiatus.

As it is there's a weekly bullish outside bar and it's triggered.
Trust price. Know yourself.
  • #8,092
  • Dec 6, 2007 4:31pm Dec 6, 2007 4:31pm
Oh Oh... I forgot to tell you... I missed the wave class too... have no idea about them.... you have to ask beachbum about waves ..... he lives at the beach...!!! The beach at fozzy land... !!!

Quoting giusepp8
usd jpy ????????
Hey SL and Tiki..... on the chart ... is that a 5-3 wave ? .... it's a 4h view ... if there is short PA setup i tempted taking it, atleast for a short-term, ... onestly the divergence and 150 ema is encouraging me but i'll wait for PA obviously.
Onestly it's the first time that i'm trying to read a chart in SL style .
What do you think?
  • #8,093
  • Dec 6, 2007 4:44pm Dec 6, 2007 4:44pm
Quoting SeekingLight
Yes about UJ.

I think the current move up looks more like a 5 count itself, which is worrying.

Even if it were an ABC the c would be way, way, way too short yet. Minimum would be .618 x size of A = C. As far as I know at least.

I would have asked Traex about all this, but he seems to have gone on hiatus.

As it is there's a weekly bullish outside bar and it's triggered.
Looking closer ... thanks
  • #8,094
  • Dec 6, 2007 4:56pm Dec 6, 2007 4:56pm
Yesterdays daily PB on AUD/USD looks so nice actually... ( of coarse I did not take that ) But can it get above the trend line ??? Well, risking 1% on that one, I can see I would have made more than 1% on it by now... would have been good for me...
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  • #8,095
  • Dec 6, 2007 5:12pm Dec 6, 2007 5:12pm
Quoting SeekingLight
Yes about UJ.

I think the current move up looks more like a 5 count itself, which is worrying.

Even if it were an ABC the c would be way, way, way too short yet.
.....
I see, you still enjoy woodo waves....

Let's have a look at s&p instead.... !

Price is sitting just few points away from my favored confluence;
weekly ppz, 50/61 and TL.....

What PA we'll get out of this, how will affect our jpy and $?... we'll find out soon enough....
.

p.s. How do you think, this will affect the us stock market SL?... Not sure about others, but I can't see champagne flowing..
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  • #8,096
  • Dec 6, 2007 6:54pm Dec 6, 2007 6:54pm
How does this pin look that just formed when today's new candle started...bouncing at 61.8% of a previous up move and also horizontal support in October?
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #8,097
  • Dec 6, 2007 7:06pm Dec 6, 2007 7:06pm
Quoting Thexder
How does this pin look that just formed when today's new candle started...bouncing at 61.8% of a previous up move and also horizontal support in October?
Also at 150 ema (yellow in daily chart)
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  • #8,098
  • Dec 6, 2007 7:10pm Dec 6, 2007 7:10pm
And also bouncing off the bottom of the main channel !!!

Quoting Matiasfx
Also at 150 ema (yellow in daily chart)
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  • #8,099
  • Dec 6, 2007 7:30pm Dec 6, 2007 7:30pm
My system that I trade has a buy order @2.0338
It has a pretty good record in the GBP/USD....I just recently automated it and have been trading it live for a little while...the system is short from 2.0618 and says cover and go long @2.0338

I am enclosing the Tradestation equity curve for the last 3 years so you will know why I trust this system ( which is just the automated version of my trading style)

Many pips to all
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Plan, Prepare, Execute, Repeat
  • #8,100
  • Dec 6, 2007 8:31pm Dec 6, 2007 8:31pm
nice curve ST,
my buy sig is for 2.0325 for GU. Waiting for now.
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