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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

  • #10,181
  • Apr 21, 2008 7:59am Apr 21, 2008 7:59am
Belikas your 1hr was a nice continuation of last nights gap play.
GOD IS NOT SHORT OF CASH
  • #10,182
  • Apr 21, 2008 8:53am Apr 21, 2008 8:53am
Quoting Swami S
Belikas your 1hr was a nice continuation of last nights gap play.
Thanks mate, nice seeying you!
  • #10,183
  • Apr 21, 2008 9:25am Apr 21, 2008 9:25am
Quoting belekas
well everyone sees PA different mate yes that h4 pinbar is looking really good, also check Cable, we might have 4hr. pinbar as well. This hour will show us the direction, i hope so.

cheers!
ur definately right about PA, didn't mean otherwise! I made a move on that PB as well... you still watching it?
  • #10,184
  • Apr 21, 2008 2:31pm Apr 21, 2008 2:31pm
Here is some nice H4 price action right off the trendline and ppz.

Tyler


Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd04-21-2008daily.gif Size: 35 KB
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd04-21-2008h4.gif Size: 34 KB
skype: ststroud. let's talk trading.
  • #10,185
  • Apr 21, 2008 2:39pm Apr 21, 2008 2:39pm
This looks more like a spinning top than a pb (gravestone doji), but I'm keeping a close eye on this, nonetheless. Indecision near the trendline drawn off the weekly chart. I just don't want to jump in too soon and get stopped out. (I tend to do that a lot near ppz's; I'm still getting the hang of timing those trades perfectly).

Tyler

Attached Image (click to enlarge)
Click to Enlarge Name: ej-weekly.gif Size: 30 KB

Attached Image (click to enlarge)
Click to Enlarge Name: ej-daily.gif Size: 27 KB
skype: ststroud. let's talk trading.
  • #10,186
  • Apr 21, 2008 2:49pm Apr 21, 2008 2:49pm
Quoting tyler812
Here is some nice H4 price action right off the trendline and ppz.

Tyler


Attachment Attachment
awesome tyler...gbp/usd..does look like a nice long
  • #10,187
  • Apr 21, 2008 3:45pm Apr 21, 2008 3:45pm
Quoting roger0078200
awesome tyler...gbp/usd..does look like a nice long
.
Attached Images
  • #10,188
  • Apr 21, 2008 4:02pm Apr 21, 2008 4:02pm
hope some of you caught this. Unfortunately I didn't . Oh well, there will be others...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 17 KB
  • #10,189
  • Apr 21, 2008 4:16pm Apr 21, 2008 4:16pm
uj, gj

.
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  • #10,190
  • Apr 21, 2008 6:00pm Apr 21, 2008 6:00pm
Quoting raczekfx
.
racekfx,

Are you going for bearish g/u with your charts? I see the monthly pin, but I think it looks more indecisive than bearish (2 monthly bullish pins followed by a bearish pin followed by the current month bar which appears to me to be indecisive). The daily bar is definitely bearish, but the weekly (not shown in your chart set) shows a BUOVB from last week which says bullish. I'd say g/u is indecisive, but I'd like to hear your opinion. I know that the charts should tell me everything, but I'm not there yet and I would appreciate any comments you have.

Thanks,
Brian
  • #10,191
  • Apr 21, 2008 6:08pm Apr 21, 2008 6:08pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi, raczekfx

I knew you are very popular, a lot of people mentioned you are great pro. so, if there be opportunity could learn from you , that will be very nice. not for sure if could have your reply, in any case, my curiosity drives me to ask this question, hope you don't mind to answer.

for the monthly view of GBPUSD, if doing an addition for the three, or probably four Pin Bars, would you consider them as a doji as a whole( I assume you knew what is doji,sorry, for this stupid assumption,surely, you knew what is doji)?

if any other people have different view about this, please welcome to comment. for me, some times, PA + PPZ + Fib works good, but, the other time, not workable, not for sure what could be the problem when I analyze the market using this strategy. I guess there probably be other factors which need to be taken into account when identifying a quality PPZ.



Quoting raczekfx
.
  • #10,192
  • Edited 6:57pm Apr 21, 2008 6:22pm | Edited 6:57pm
Quoting byorkFX
racekfx,

Are you going for bearish g/u with your charts? I see the monthly pin, but I think it looks more indecisive than bearish (2 monthly bullish pins followed by a bearish pin followed by the current month bar which appears to me to be indecisive). The daily bar is definitely bearish, but the weekly (not shown in your chart set) shows a BUOVB from last week which says bullish. I'd say g/u is indecisive, but I'd like to hear your opinion. I know that the charts should tell me everything, but I'm not there yet and I would appreciate any comments you have.

Thanks,
Brian
If I were to trade daily Beob, I'd wait for retracement to about 1.9880/1.9920 before going short. As you already said, we have a Buovb on weekly and price already bounced off of 61 fib. I prefer to see these kind of bars at swing high/low (just like pbs) though. Since I don't know what will happen next, I stay aside. My bias is neutral, however if we see oil loosing ground I will turn US bull.
Attached Image
  • #10,193
  • Apr 21, 2008 6:38pm Apr 21, 2008 6:38pm
Quoting raczekfx
If I were to trade daily Beob, I'd wait for retracement to about 1.9880/1.9920 before going short. As you already said, we have a Buovb on weekly and price already bounced off of 61 fib. I prefer to see these kind of bars at swing high/low (just like pbs) though. Since I don't know what will happen next, I stay aside. My bias is neutral, however if we see oil loosing ground I will turn US bull.
Just to add to what raczekfx said, if you look at the weekly cable chart, we are still in an uptrend. That move down may just be a retracement. We also have 3 touches now of the trendline and last week ended in a buob.
Attached Image (click to enlarge)
Click to Enlarge Name: cable_weeklybuob_trendline.gif Size: 11 KB
  • #10,194
  • Apr 21, 2008 6:54pm Apr 21, 2008 6:54pm
Quoting krue
Hi, raczekfx

I knew you are very popular, a lot of people mentioned you are great pro. so, if there be opportunity could learn from you , that will be very nice. not for sure if could have your reply, in any case, my curiosity drives me to ask this question, hope you don't mind to answer.

for the monthly view of GBPUSD, if doing an addition for the three, or probably four Pin Bars, would you consider them as a doji as a whole( I assume you knew what is doji,sorry, for this stupid assumption,surely, you knew what is doji)?

if any other people have different view about this, please welcome to comment. for me, some times, PA + PPZ + Fib works good, but, the other time, not workable, not for sure what could be the problem when I analyze the market using this strategy. I guess there probably be other factors which need to be taken into account when identifying a quality PPZ.
Thanks, but I'm not a pro... Forex is a hobby of mine like many others. It can be expensive, other times might be rewarding. The problem with PA/ppz/fib is that they fail from time to time, just like any other methods or systems. There is no easy way to tell what's gonna happen next, that's why you NEED good MM and pick only the best probabilities. If I can have my 5 min. here, I'd say they work best when trading only in a direction of a major trend and supported by some fundies. I don't give a damn about fundies except for one thing. I need to know, who's raising interest rates and who's lowering them and when the cycle is changing. When feds stop and eurobank will start cutting you can be certain the titanic will turn its course and you can use that info to look for the best pa/ppz and fib or whatever else you use to look for short setups. There is a lot of hype and lies out there, so you need to learn not to trust anyone, but simply rely on your experience and trade best probabilities as I already mentioned. Oil is hitting all time high not because of fundies or supply and demand. You can hear bodman and bush feeding you with b.s that supply and demand driving its price trough the roof, but when you look the weekly numbers, you can see oil reserves going up every week. So what's happening.... ? We don't care, we're traders and follow the price to get some results.... lol.
ok. going back to your question about monthly gu. Since this is a fourth month where open and close appear to be at almost the same level, we're looking at equal strength of bulls and bears. Personally I don't see cable breaking that monthly pb (march) any time soon and if $ were given opportunity to gain strength, I would not be surprised to see.... 1.91 in months to come....
cheers,
  • #10,195
  • Apr 21, 2008 7:18pm Apr 21, 2008 7:18pm
hi all,

we have tiny pinbar here...any comments guys ?

http://i222.photobucket.com/albums/d..._2007/ejpb.gif
  • #10,196
  • Apr 21, 2008 8:11pm Apr 21, 2008 8:11pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Thanks, raczekfx, nowI understand better the reason why you highlight the bearish PB, given its appearance of indecision for the 4 consecutive months.
To be honest, I totally have no idea about fundamentals, don't know when were the last a few rate cuts by fed( I am on the remote place of this planet,so sorry could not talk with you the rate cuts), I guess probably not in the doji period?? no worries, just take my question as shit, coz I don't know fundamentals.

But, it is grateful to have your opinion that PA/ppz/fib is just like many other systems which could fail from time to time, I think this point may save me a lot of time to understand how to play the trade with PA. now, I have much more confidence to work on my strategy which shows somewhat encouraging indication.


Quoting raczekfx
Thanks, but I'm not a pro... Forex is a hobby of mine like many others. It can be expensive, other times might be rewarding. The problem with PA/ppz/fib is that they fail from time to time, just like any other methods or systems. There is no easy way to tell what's gonna happen next, that's why you NEED good MM and pick only the best probabilities. If I can have my 5 min. here, I'd say they work best when trading only in a direction of a major trend and supported by some fundies. I don't give a damn about fundies except for one thing. I need to know, who's raising interest rates and who's lowering them and when the cycle is changing. When feds stop and eurobank will start cutting you can be certain the titanic will turn its course and you can use that info to look for the best pa/ppz and fib or whatever else you use to look for short setups. There is a lot of hype and lies out there, so you need to learn not to trust anyone, but simply rely on your experience and trade best probabilities as I already mentioned. Oil is hitting all time high not because of fundies or supply and demand. You can hear bodman and bush feeding you with b.s that supply and demand driving its price trough the roof, but when you look the weekly numbers, you can see oil reserves going up every week. So what's happening.... ? We don't care, we're traders and follow the price to get some results.... lol.
ok. going back to your question about monthly gu. Since this is a fourth month where open and close appear to be at almost the same level, we're looking at equal strength of bulls and bears. Personally I don't see cable breaking that monthly pb (march) any time soon and if $ were given opportunity to gain strength, I would not be surprised to see.... 1.91 in months to come....
cheers,
  • #10,197
  • Apr 21, 2008 8:25pm Apr 21, 2008 8:25pm
Quote
hi all,

we have tiny pinbar here...any comments guys ?

http://i222.photobucket.com/albums/d..._2007/ejpb.gif
see my post earlier today; this is a small pb, but I'm still trading the break of it based on the weekly downtrend, and this pb is near the upper trendline on weekly. Just my two cents worth. Don't take this as sound advice; I'm not recommending this trade, as I'm still learning and I still have a long way to go. We will have to wait and see what happens.

Tyler
skype: ststroud. let's talk trading.
  • #10,198
  • Apr 22, 2008 2:54am Apr 22, 2008 2:54am
Sorry, where can I find , how to post charts, not attachments?
Laszlo
  • #10,199
  • Apr 22, 2008 3:10am Apr 22, 2008 3:10am
Quoting lacika
Sorry, where can I find , how to post charts, not attachments?
Laszlo
You can make a mess here: http://www.forexfactory.com/showthre...t=53366&page=2

Have fun
Gone to a better place
  • #10,200
  • Apr 22, 2008 3:10am Apr 22, 2008 3:10am
Quoting tyler812
see my post earlier today; this is a small pb, but I'm still trading the break of it based on the weekly downtrend, and this pb is near the upper trendline on weekly. Just my two cents worth. Don't take this as sound advice; I'm not recommending this trade, as I'm still learning and I still have a long way to go. We will have to wait and see what happens.

Tyler
Hi Tyler are you considering to go short now ? and have the stop at todays high?

best regards Niels
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