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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

  • #2,181
  • Jan 17, 2007 6:15am Jan 17, 2007 6:15am
here are the eur/cross pairs im in
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  • #2,182
  • Jan 17, 2007 6:19am Jan 17, 2007 6:19am
Quoting Squash
Wow I must be doing something right as I have very similar first TP's as you Habbeb. Within 10 pips. Gives me some confidence.

Bundy, just wondering if your shorting Cable on the retrace to the first eye? I thought about it with a very small amount but still scared of retrace entries on PB's.
Nup.
I had a touch entry for daily S1 pivot, but it missed by a couple of pips.
It was in confluence with the 76.4% fib retrace of the recent down move (from yesterdays top).

When I got back to the screen it was falling down with little resistance. Pannicked in. ...Dumb-arse move!

Will probably still work out, but I hate it when I break my rules like that.
Bundy's status today: "Waiting..."
  • #2,183
  • Jan 17, 2007 6:44am Jan 17, 2007 6:44am
We only put rules in place to break them it seems.

Mike I have a pending long order on Swissy. It will trigger at 1.2500.

Speaking of crosses I've been short on EURJPY for about an hour looking for a small retrace.
  • #2,184
  • Jan 17, 2007 7:04am Jan 17, 2007 7:04am
My nemesis this year has been USD/JPY, 3 trades that have miserably back fired. Can anyone analyse this pair on the 4hour.
Seems to be just making HL's.
ps: currently short at 120.50
  • #2,185
  • Jan 17, 2007 7:08am Jan 17, 2007 7:08am
Daily Pin on the UsdChf. Both UsdChf and GbpUsd showing blue bars and the EurUsd a red. Odd the Eur and Gbp going different directions?
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  • #2,186
  • Jan 17, 2007 7:11am Jan 17, 2007 7:11am
Whats up buddy? im back
  • #2,187
  • Jan 17, 2007 7:23am Jan 17, 2007 7:23am
Quoting vlazaf
My nemesis this year has been USD/JPY, 3 trades that have miserably back fired. Can anyone analyse this pair on the 4hour.
Seems to be just making HL's.
ps: currently short at 120.50
heres quickly the best opportunities I see without any trendlines/pivots just bars
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  • #2,188
  • Jan 17, 2007 7:55am Jan 17, 2007 7:55am
Mike what ma's are the purple brown and white lines?
  • #2,189
  • Jan 17, 2007 8:02am Jan 17, 2007 8:02am
Quoting goodthings
Mike what ma's are the purple brown and white lines?

150, 200, 365

take care,
Mike
  • #2,190
  • Jan 17, 2007 9:03am Jan 17, 2007 9:03am
Price has retraced to the 38.2 on the Pin bar on the eur/usd - Anyone took a short from here?? I have!!

Mike
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  • #2,191
  • Jan 17, 2007 9:14am Jan 17, 2007 9:14am
much the same setup on the swissy - longed from the 38.2 retrace again

Mike
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  • #2,192
  • Jan 17, 2007 10:15am Jan 17, 2007 10:15am
Quoting MIG
much the same setup on the swissy - longed from the 38.2 retrace again

Mike
1h PB into s/r, 30M BEOB, cable invalidated pin, Gold is above prior 3 touch high and oil is surging. The dollar is dead for me now until Gold drops off again for me.
We could very well be in a Cable Wave 5 up after all and starting on the C leg of it after yesterday being the B correction. We'll see, will analyse on daily close.

A lot of antidollar BEOB/BUOB on 4h as well, I will not be buying dollars right now.
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Trust price. Know yourself.
  • #2,193
  • Jan 17, 2007 10:17am Jan 17, 2007 10:17am
This formed right after the last part of the news I think.
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Trust price. Know yourself.
  • #2,194
  • Jan 17, 2007 10:51am Jan 17, 2007 10:51am
Just wondering
On USDCHF, the daily showed a PB and looking at the weekly charts there looks like an upward trend.
Now on my 4H chart a BEOB formed. Which the next bar is rtracing into.
Hows would someone trade this if they were going to or would they wait just in case the BEOB was because of the news? I have seen above Seeking trading after the news on the smaller timeframes which i dont do.
I would have proably played the PB as MIG did.

Hope that makes sense, basically one timeframe price action (bullish daily PB) opposite to another timeframe (4H BEOVB)
Thinking about it i would proabably now wait until break of PB again for confirmation?

H

Quoting SeekingLight
This formed right after the last part of the news I think.
  • #2,195
  • Jan 17, 2007 3:24pm Jan 17, 2007 3:24pm
Ahhhhh crap. Don't you hate it waking up to a big bunch of negative trades that were postive when you went to bed.
  • #2,196
  • Edited 5:02pm Jan 17, 2007 4:08pm | Edited 5:02pm
Hi mike,
NIce eur/aud trade,
just wondering, the 4 hr pin you entered on, there was another 4 hr pin shape going the opposite direction after it, i know it was not really a pin cause it was in bad place and never broker, but personallly i woulda closed after seeing that, this is a fault of mine, so how do you stay in trades when you see that happen,
what makes it so you still think it's going to go down?

thanks mike




Quoting mbqb11
here are the eur/cross pairs im in
  • #2,197
  • Jan 17, 2007 4:13pm Jan 17, 2007 4:13pm
Quoting SeekingLight
Also if EURUSD jumps the TL hurdle it will become support and it might run away..

Just wanted to follow up on this with an updated EURUSD. We now also have a rising trendline which showed some s/r behaviour already and could contain price unless broken again. The prior TL turned into S after closing above it.
Gold has gone berzerk and for now seems to like > 630$ just fine. It has made a BUOB after two bars of windup. This should be bad news for the dollar.
Cable has just bounced and is working to get above a former s/r TL as well once more. If it manages that we could be going for a 1.9750 retest.
It's scary to see such a majorly skewed market with cable ready to break that TL and make an almost DBLHC with that, but USDCHF and EURUSD almost going nowhere. I will post both EURUSD and USDCHF to show how conflicting this currently seems to me.


First the EURUSD trendlines and stuff.
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  • #2,198
  • Jan 17, 2007 4:15pm Jan 17, 2007 4:15pm
And USDCHF from an optimistic perspective for the Dollar, for now. Keep in mind ANY USDCHF strength during idle periods may just just be EURCHF pushing higher and weakening CHF, not something helping the Dollar side.

Keep an eye on some of the crosses on the side once you get an overview of your favorite pair and you will see the effects.
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Trust price. Know yourself.
  • #2,199
  • Jan 17, 2007 4:32pm Jan 17, 2007 4:32pm
Hey Westie,

For this trade the other pin like you said was in a bad spot(in traffic) and wasnt really a great one(close was lower then the open). As for this trade anyway it never broke the high of the "semi-pin". So that would cause no concern on my end. Also when I enter a trade, it's after I think it all out, and I have become very discipline in holding them, and not closing out or moving my stops to b/e. I trust my analysis and then the rest is up to the market. I closed this trade right around monthly s2/weekly s1 for 80 pips today. This pair has been a choppy mess, but a choppy mess going down. I probably could hold it still but, after the res on Monthly S2/weeks1, I was content.

I think you answered your own question though. Don't fear having losing trades. If you over analyze these charts to death you can always find reasons for not placing trades or reasons to get out. Just learn to trust your edge and then just do it over and over again.

Best,
Mike

Quoting Mr Smith
Hi mike,
NIce eur/aud trade,
just wondering, the 4 hr pin you entered on, there was another 4 hr pin shape going the opposite direction after it, i know it was not really a pin cause it was in bad place and never broker, but personallly i woulda closed after seeing that, this is a fault of mine, so how do you stay in trades when you see that happen,
what makes it so you still think it's going to go down?

thanks mike

westie
  • #2,200
  • Jan 17, 2007 4:49pm Jan 17, 2007 4:49pm
Quoting mbqb11
heres quickly the best opportunities I see without any trendlines/pivots just bars
Thanks Mbqb, I have 161.8 ext @ 120.75. Hoping for a sub 120 retrace and will hope to jump in on the next with trend long signal.
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