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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

  • #8,621
  • Jan 6, 2008 7:38am Jan 6, 2008 7:38am
I see BEOB near support, looks like trend continuation. If you see this bar would you set sell stop below that bar?
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  • #8,622
  • Jan 6, 2008 7:52am Jan 6, 2008 7:52am
Quoting jatis
I see BEOB near support, looks like trend continuation. If you see this bar would you set sell stop below that bar?
You could play the break of the bar and the ppz you have drawn by waiting for the breakout and the subsequent pullback to the ppz, and then placing your sell order...a la rac, or the bus going back to pick up grandma as SL says...take care, Raz
Never say never.
  • #8,623
  • Jan 6, 2008 6:10pm Jan 6, 2008 6:10pm
Perhaps it's just me..., but I can't let go the feeling that we're heading towards 1.91-1.93. Anyone else?
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  • #8,624
  • Jan 6, 2008 7:21pm Jan 6, 2008 7:21pm
I would like that,
Why not.
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  • #8,625
  • Jan 6, 2008 7:48pm Jan 6, 2008 7:48pm
Quoting coolshades
why would you trade this cadjpy daily pb at all? i

another broker.
  • #8,626
  • Jan 6, 2008 8:40pm Jan 6, 2008 8:40pm
Hey Tiki, to answer your PM… this is not new….
Retraces are great, but please note what happened after nonfarm!?
I haven’t seen such numbers for quite some time and would expect fiber and cable to rally hard. Instead we’ve got fake break out of 1.48 and priced closed pretty much where it opened on daily. $ also strengthen on other crosses. Such behavior makes me think the top has been placed (at least temporarily) for fiber. You might want to wait for some sort of PA confirmation now before deciding what’s to do next, but I’m a bit more aggressive and took initial position, I’ll add more on break lower. When you look at that cable chart, price is testing 1.97 for the fourth time… it could bounce, who knows, but I’m leaning toward a break low. When it breaks, next logical support will be around 1.94 and then 1.9160.. that’s how I see it.
Many pips
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  • #8,627
  • Jan 6, 2008 8:49pm Jan 6, 2008 8:49pm
OK... but what is your stop on GBP ??? How many pips are you willing to lose...? What is the confirmation for you that your idea is working ?? What kind of close below 1.97 ??? We are already hitting Fridays low...

Quoting raczekfx
Hey Tiki, to answer your PM… this is not new….
Retraces are great, but please note what happened after nonfarm!?
I haven’t seen such numbers for quite some time and would expect fiber and cable to rally hard. Instead we’ve got fake break out of 1.48 and priced closed pretty much where it opened on daily. $ also strengthen on other crosses. Such behavior makes me think the top has been placed (at least temporarily) for fiber. You might want to wait for some sort of PA confirmation now before deciding what’s to do next, but I’m a bit more aggressive and took initial position, I’ll add more on break lower. When you look at that cable chart, price is testing 1.97 for the fourth time… it could bounce, who knows, but I’m leaning toward a break low. When it breaks, next logical support will be around 1.94 and then 1.9160.. that’s how I see it.
Many pips
  • #8,628
  • Jan 6, 2008 9:01pm Jan 6, 2008 9:01pm
Quoting Tiki Trader
OK... but what is your stop on GBP ??? How many pips are you willing to lose...? What is the confirmation for you that your idea is working ?? What kind of close below 1.97 ??? We are already hitting Fridays low...
here they are.....
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  • #8,629
  • Edited 10:36pm Jan 6, 2008 9:10pm | Edited 10:36pm
Thank You for answering !!!

Quoting raczekfx
here they are.....
  • #8,630
  • Jan 6, 2008 9:43pm Jan 6, 2008 9:43pm
test
  • #8,631
  • Jan 6, 2008 10:33pm Jan 6, 2008 10:33pm
whats your thoughts on this one Racze,
You going to sell yen on the way up to 217 again or wait and play the break below support.
I'm not in this, wish, but I would like to see a bounce up, consolidate some more to get an entry.
Hang on your selling yen right now aren't you....
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  • #8,632
  • Jan 6, 2008 10:47pm Jan 6, 2008 10:47pm
Quoting rustyjeff
whats your thoughts on this one Racze,
You going to sell yen on the way up to 217 again or wait and play the break below support.
I'm not in this, wish, but I would like to see a bounce up, consolidate some more to get an entry.
Hang on your selling yen right now aren't you....
.
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  • #8,633
  • Jan 6, 2008 11:10pm Jan 6, 2008 11:10pm
mmmmmmmmm.. thanks,
A picture says a thousands words.
  • #8,634
  • Jan 7, 2008 7:13am Jan 7, 2008 7:13am
Quoting raczekfx
here they are.....
Hey raczek, you scratched out the best parts.
  • #8,635
  • Jan 7, 2008 9:50am Jan 7, 2008 9:50am
raczek

I am beginning to wonder if there really will be a retrace back to 218-220 area...
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  • #8,636
  • Jan 7, 2008 10:16am Jan 7, 2008 10:16am
Quoting Tiki Trader
raczek

I am beginning to wonder if there really will be a retrace back to 218-220 area...
Back in Oct-Nov. 2007, I was chatting with a couple of my traders-friends and we discovered that we all sold equities and moved our money to bonds and cash at almost the same time......

They also mentioned, they wouldn't be surprised to see correction in Dow this year by 25-35%....
Well, if that happens we won't see 220 anytime soon...
  • #8,637
  • Jan 7, 2008 10:23am Jan 7, 2008 10:23am
Short in EUR-USD
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  • #8,638
  • Jan 7, 2008 10:27am Jan 7, 2008 10:27am
Yes..I've heard the DOW thing... I think I tend to agree...

Quoting raczekfx
Back in Oct-Nov. 2007, I was chatting with a couple of my traders-friends and we discovered that we all sold equities and moved our money to bonds and cash at almost the same time......

They also mentioned, they wouldn't be surprised to see correction in Dow this year by 25-35%....
Well, if that happens we won't see 220 anytime soon...
  • #8,639
  • Jan 7, 2008 10:56am Jan 7, 2008 10:56am
Quoting raczekfx
Perhaps it's just me..., but I can't let go the feeling that we're heading towards 1.91-1.93. Anyone else?
Quoting SeekingLight
I am however wondering about 1.9150 GBPUSD and 200/190 GJ (ever) being revisited
If that counts
(journal excerpt from yesterday)
Trust price. Know yourself.
  • #8,640
  • Jan 7, 2008 11:03am Jan 7, 2008 11:03am
Quoting SeekingLight
If that counts
(journal excerpt from yesterday)
Of course it counts,... much more than that of jasdel's dude...

Actually I've seen a post in your journal on the very same topic an hour after I posted my chart here and was quite content. Glad we're on the same page..
Now, off to the bank to borrow more yen...
...1.48...1.47..1.46... 1.42... ..., ...
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