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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

  • #1,841
  • Jan 4, 2007 8:28am Jan 4, 2007 8:28am
Quoting sch305ny
Thank you for the advice for usd/jpy habeeb. I ended up stay out the trade both ways. Wasn't too sure about either ways. By the way, I see PB on 1hr cable. I know it is not the swing low pinbar, but would you concider trade that too?

Saw
At the moment I'm out of the market. Waiting for a better opportunity. No need to trade all the setups ... just the good ones.
Keeping it Simple
  • #1,842
  • Jan 4, 2007 8:40am Jan 4, 2007 8:40am
Just wanted to post this as a lesson to stay in trades (I bailed without making too much of a profit, let alone enough to warrant the stop I had used. Got spooked by that 38.2% bounce that looked like a BUOB or something).

EJ BEOB, ran 140 pips after the break already. Could either pin here or do anything. But geez, 140 pips.

Took +20 on the USDJPY bearish pin bar when I saw it didn't want to go under 119.05 s/r.

Could be the Yen is back to being the beating boy now.
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Trust price. Know yourself.
  • #1,843
  • Jan 4, 2007 8:46am Jan 4, 2007 8:46am
Quoting habeeb
At the moment I'm out of the market. Waiting for a better opportunity. No need to trade all the setups ... just the good ones.
I agree!! Made a killing with a nice Knife trade on EUR/JPY. Now we sit back and wait. I think I'm done for the rest of the week anyway, I never trade NON-FARM..
  • #1,844
  • Edited 5:15pm Jan 4, 2007 9:51am | Edited 5:15pm
Quoting baddison
I agree!! Made a killing with a nice Knife trade on EUR/JPY. Now we sit back and wait. I think I'm done for the rest of the week anyway, I never trade NON-FARM..
Speaking of the EUR/JPY, is this a classic pin bar on this DAILY chart ? -
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  • #1,845
  • Jan 4, 2007 9:54am Jan 4, 2007 9:54am
It looks like BEOB to me..
  • #1,846
  • Jan 4, 2007 10:02am Jan 4, 2007 10:02am
Quoting Detonator
Speaking of the EUR/JPY, is this a classic pin bar ? -

No it's the BEOB I posted twice now
BEOB / BEOVB : bearish outside bar, bearish engulfing candle (engulfing=>overlaps the prior candle fully, above and below, close lower than low of prior candle)
Trust price. Know yourself.
  • #1,847
  • Jan 4, 2007 11:25am Jan 4, 2007 11:25am
Also I believe OANDA uses 3h candles instead of 4h, so no idea how that works.

Was curious what you guys think about this 1H pin on EURUSD since I'm lacking real confluence other than a general s/r zone there...

Anyone have some thoughts on this?
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Trust price. Know yourself.
  • #1,848
  • Jan 4, 2007 12:57pm Jan 4, 2007 12:57pm
seeking,

just my thoughts I am not trading any of the majors until the NFP tommorow. Usually things as you know just narrow out to nothing. Maybe it will get some push in the euro, but in the end everyone is just waiting for this report. I am just trading the crosses until then

I'll throw up a trade im in in a bit

Mike
  • #1,849
  • Edited 1:55pm Jan 4, 2007 1:13pm | Edited 1:55pm
Crosses, eh? I was hoping EJ would pin, but it didn't, only GBPJPY did.
61.8% and a creative trendline and rough s/r zone.
If USDJPY goes back up or holds as cable rises that'd do it

But I don't trust the way the market 'feels' at the moment, must be the lurking NFP.

Deleting attachment as price already went under the pin. USDJPY finally arrived at my targetted trendline after I closed it out hours ago. Arg.
Patience, patience, must learn more patience...
Trust price. Know yourself.
  • #1,850
  • Jan 4, 2007 3:40pm Jan 4, 2007 3:40pm
this is the trade im still in now on the eur/cad. This is the 4 hr view but i entered in on the 1 hr for a small stop. WE LOVE THEM SMALL STOPS LOL
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  • #1,851
  • Jan 4, 2007 5:26pm Jan 4, 2007 5:26pm
Dunno if any of you stuck with this, I should have held it longer. Only took out 55 on it but the carry trade pairs always make me weary going against
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  • #1,852
  • Jan 4, 2007 5:42pm Jan 4, 2007 5:42pm
Mike ,if you have time could you post details of EUR/CAD trade as I have seen u previously post that u have been watching this pair for some time.Are there particular crosses that u trade .As previously I have never really looked at them.Thanks
  • #1,853
  • Jan 4, 2007 5:59pm Jan 4, 2007 5:59pm
Quoting JAKOBEN
Mike ,if you have time could you post details of EUR/CAD trade as I have seen u previously post that u have been watching this pair for some time.Are there particular crosses that u trade .As previously I have never really looked at them.Thanks
hey jakoben,
Ya I have been watching this pair a lot lol. I like the way this thing moves if you get on it the right way. For this trade I was only looking to take longs. This came after looking over the weekly. For awhile I thought this pair was gonna bounce off the 365, it looked to be making a retrace, but instead we broke away from the 365. I have been looking for a good entry and today found a pin on the hour forming back towards this trendline. It was also on the bounce of a fib

lemme know if you want some more info
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  • #1,854
  • Jan 4, 2007 6:12pm Jan 4, 2007 6:12pm
Quoting mbqb11
Dunno if any of you stuck with this, I should have held it longer. Only took out 55 on it but the carry trade pairs always make me weary going against
Hey Mike,

Not trading this week, but have been watching Eur/Jpy for a good buying oppurtunity. Here's your current hold up, I'd say... Currently finding support @ Dec 27 Low.
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Bundy's status today: "Waiting..."
  • #1,855
  • Jan 4, 2007 6:17pm Jan 4, 2007 6:17pm
Doesn't show on that above chart , but that support line was good resistance back around mid december
Bundy's status today: "Waiting..."
  • #1,856
  • Jan 4, 2007 6:32pm Jan 4, 2007 6:32pm
Quoting bundyraider
Hey Mike,

Not trading this week, but have been watching Eur/Jpy for a good buying oppurtunity. Here's your current hold up, I'd say... Currently finding support @ Dec 27 Low.
excellent, I will be keeping my eye out as well



thanks BUNNY
  • #1,857
  • Jan 4, 2007 6:33pm Jan 4, 2007 6:33pm
Quoting bundyraider
Hey Mike,

Not trading this week, but have been watching Eur/Jpy for a good buying oppurtunity. Here's your current hold up, I'd say... Currently finding support @ Dec 27 Low.
!!POP!!
Bundy's status today: "Waiting..."
  • #1,858
  • Jan 4, 2007 6:35pm Jan 4, 2007 6:35pm
Quoting mbqb11
excellent, I will be keeping my eye out as well



thanks BUNNY
LOL. ....I'm a bit slow. I'll find one for you one day. (see, this is where we need an Evil smiley! )
Bundy's status today: "Waiting..."
  • #1,859
  • Jan 4, 2007 6:37pm Jan 4, 2007 6:37pm
hahah

gonna watch for some PA around the 150 and price pivot, why arent you trading this week ?? have you had enough forex for one week :
  • #1,860
  • Jan 4, 2007 6:43pm Jan 4, 2007 6:43pm
Quoting mbqb11
hahah

gonna watch for some PA around the 150 and price pivot, why arent you trading this week ?? have you had enough forex for one week :
Must be out of my head or something. The trend breaks I were watching were 'Muddy' , decided that since the Japs were on holiday and you lot were having a sook about some president guy kicking the bucket ( ...kidding!) it must be a bad week to trade. LOL

I'll take any good buy oppurtunity on this Eur/Yen though. May even fade a small parcel since the 365 co-incides with the 'King' 32% fib.
Bundy's status today: "Waiting..."
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