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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

  • #8,681
  • Jan 8, 2008 7:13pm Jan 8, 2008 7:13pm
FUNNY.... I almost thought that was the GBP/JPY chart !!!

Quoting raczekfx
Same here.... Dow is about to erase all gains for the 2007...
  • #8,682
  • Jan 8, 2008 9:33pm Jan 8, 2008 9:33pm
I like to know your opinion about this Pin on GJ daily I know it's in traffic but looking at the weekly you can see the price at the bottom of the TL. Any thoughts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gj w.gif Size: 25 KB
Click to Enlarge Name: gj d.gif Size: 18 KB
The more obstacles I overcome the better man I become.
  • #8,683
  • Jan 8, 2008 9:37pm Jan 8, 2008 9:37pm
That's not daily... and it's also not a Pin Bar...!!! it's an IB right now... but on a weekly time frame... the week still has three more days to go...

Quoting sevejose
I like to know your opinion about this Pin on GJ daily I know it's in traffic but looking at the weekly you can see the price at the bottom of the TL. Any thoughts.
  • #8,684
  • Jan 8, 2008 10:09pm Jan 8, 2008 10:09pm
Hello,
IBFX daily charts show a beautifully shaped pin on 1-8-08, but everything else about it is not good. The tail is the wrong way for a retracement & it's in congestion. It's certainly not one I would use as a trigger.
Roy
  • #8,685
  • Jan 8, 2008 11:04pm Jan 8, 2008 11:04pm
Quoting HipsterPipster
Short scalp on uj off of pzz, e-109.68
Closed 109.18, thanks Rusty.
  • #8,686
  • Jan 9, 2008 2:25am Jan 9, 2008 2:25am
As for the "why" price reacted (imho)
Attached Image (click to enlarge)
Click to Enlarge Name: gj_080109_daily_tl.gif Size: 19 KB
Trust price. Know yourself.
  • #8,687
  • Jan 9, 2008 6:02am Jan 9, 2008 6:02am
Good............. Perhpas this clearly defines the consolidation zone then....

Quoting SeekingLight
As for the "why" price reacted (imho)
  • #8,688
  • Jan 9, 2008 7:49am Jan 9, 2008 7:49am
Hi there,

My broker sends me email alerts on price level but I can't stay at my desk all day long. I'm looking for a way to forward email alerts to sms.
Any suggestion ?

Thanks,

Fabrice.
  • #8,689
  • Jan 9, 2008 12:31pm Jan 9, 2008 12:31pm
Quoting mbqb11
the aud/nzd is a perfect example of this


I was waiting for a breakout , and price did but just pulled back into the channel. Price even close outside this area after a BEB. By waiting for my breakout area to re-hold(marked by red X), it is showing me an area where other speculators are finding significant also. My lines mean nothing unless others are doing the same.

Just how I go about it. I am a very conservative trader.

Now I re-draw my lines, and re-evaluate the situation for the future.
Pardon my ignorance but what is a BEB? I thought that was a Bearish Engulfing Bar but either i am blind but i don't see that.

Yes i understand your reasoning and i like it. Makes sense from a conservative standpoint. So x marks the spot... that is where you are expecting price to either be rejected and confirm your breakout or resume it's course upward. And you mention that other traders are drawing the same lines looking for confirmation as well which means that like fibs you are drawing your charts like others so that you move price in a group?
  • #8,690
  • Jan 9, 2008 12:50pm Jan 9, 2008 12:50pm
Quoting saskgui
Pardon my ignorance but what is a BEB? I thought that was a Bearish Engulfing Bar but either i am blind but i don't see that.
BEB = bearish bar (any old "red" bar really; close < open)
BUB = bullish bar (any old "green" bar really; close > open)
Trust price. Know yourself.
  • #8,691
  • Jan 9, 2008 12:53pm Jan 9, 2008 12:53pm
Quoting saskgui
Pardon my ignorance but what is a BEB? I thought that was a Bearish Engulfing Bar but either i am blind but i don't see that.
Saskgui!

BEB stands for Bearish Bar (just Bearish, not Engulfing that is also known as BEOB BEarish Outside Bar). It is a single bar that closes out near to its low. It indicates Bearish strenght. And there is a great chance price goes beyond its low the next bar/candle. The bigger the bar relative to he previous ones the better and the lowest its close also the better.

Hope this helps!
Fabian.
Attached Image (click to enlarge)
Click to Enlarge Name: bebi.gif Size: 25 KB
  • #8,692
  • Jan 9, 2008 1:04pm Jan 9, 2008 1:04pm
Ah yes, thx for the clarification guys.
  • #8,693
  • Jan 9, 2008 1:52pm Jan 9, 2008 1:52pm
UJ is just itching to go, that is break out of the 4hr consolidation.
  • #8,694
  • Jan 9, 2008 2:01pm Jan 9, 2008 2:01pm
Quoting HipsterPipster
UJ is just itching to go, that is break out of the 4hr consolidation.
UJ has broken the pennant on the down side...... it must go down, after all the bad US news lately, I think the big players has been keeping the UJ creeping up for a good price to sell.
Kjellik74
  • #8,695
  • Jan 9, 2008 2:24pm Jan 9, 2008 2:24pm
Quoting kjellik74
UJ has broken the pennant on the down side...... it must go down, after all the bad US news lately, I think the big players has been keeping the UJ creeping up for a good price to sell.
Hmm, not yet convinced of that. Maybe I'am in denial.
  • #8,696
  • Jan 9, 2008 3:11pm Jan 9, 2008 3:11pm
Quoting kjellik74
UJ has broken the pennant on the down side...... it must go down, after all the bad US news lately, I think the big players has been keeping the UJ creeping up for a good price to sell.
Not sure what you're on but U/J is not going down. This is a one way ticket up right now.
  • #8,697
  • Jan 9, 2008 3:17pm Jan 9, 2008 3:17pm
Quoting the_wizard
Not sure what you're on but U/J is not going down. This is a one way ticket up right now.
Why?
Trust price. Know yourself.
  • #8,698
  • Jan 9, 2008 3:39pm Jan 9, 2008 3:39pm
long uj-109.44 broke upper pz watching for r.
long gj-214.01
  • #8,699
  • Jan 9, 2008 3:54pm Jan 9, 2008 3:54pm
Quoting the_wizard
Not sure what you're on but U/J is not going down. This is a one way ticket up right now.
I am on nothing else then clean fresh air I promise (-: Anyway, short term talking the pair might retrace a bit more, but talking mid/long term I see it coming down a lot, maybe toward 103ish in the next month. This is where I put my bets for banking my profit in Jan, if UJ end up going up as you say, then thank God I have placed my stops so I can live to trade another day.
Kjellik74
  • #8,700
  • Jan 9, 2008 3:58pm Jan 9, 2008 3:58pm
Don't mind Wiz, he's been hit by lighting before, and we're probably both trading it on smaller frames
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