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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

  • #10,281
  • Apr 25, 2008 4:19pm Apr 25, 2008 4:19pm
please could someone tell me if fridays signals are taken into consideration for opening trades sunday/mon, obviously sunday bars dont count.

thanks in advance.
  • #10,282
  • Edited 6:53pm Apr 25, 2008 4:32pm | Edited 6:53pm
Quoting woolley
please could someone tell me if fridays signals are taken into consideration for opening trades sunday/mon, obviously sunday bars dont count.

thanks in advance.
Many people take Friday's close into consideration as market sentiment for the comming week.
  • #10,283
  • Apr 25, 2008 9:04pm Apr 25, 2008 9:04pm
Quoting woolley
please could someone tell me if fridays signals are taken into consideration for opening trades sunday/mon, obviously sunday bars dont count.

thanks in advance.
Friday's signals are taken for opening trades for Monday.
Indicators show the past. Price Action "Indicates" the future.
  • #10,284
  • Apr 25, 2008 9:08pm Apr 25, 2008 9:08pm
Quoting woolley
Good afternoon everyone.going through my weekly charts ive come across these possible trades in the making, all these charts are from broker GMT-2

1. audusd short, pinbar touched upper bollinger and pierced through the above resistance but was rejected.
2. audjpy short, pinbar (not brillient) but was rejected from 50 fib level from last major bear run, my only concern is price has broken out from upper trendline but if you go down to daily there sma365 that seems to acting as resistance for now.
3. eurcad short DBHLC has tough resistance above which price has been rejected now 5 times.
4. audcad short possible pinbar price rejected from upper bollinger level need current price to move down some more to be convinced this is a decent trade in the making.

out of the possible 4 i think audusd and eurcad are probally the best signals at this moment in time but still good few hours to see how the weekly bars close, im still learning these J16 signals so your comments please.

How nice is that Pin Bar on the AUD/USD Weekly woolley.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,285
  • Apr 25, 2008 9:26pm Apr 25, 2008 9:26pm
Quoting mbqb11
Just to expand,

If chf/jpy makes its move down, we can see we have another large area of support to look out for.

This is why IMO it is safer to watch for a break long as there is less resistance on the way up, as there is on the way down. I trail my stops, and when there is resistance I often get bumped out before I can catch a move(this is a personal thing).

Mike
Not forgetting this comment Mike, just because the chf/jpy Price Action fell through.

Thanks,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #10,286
  • Apr 25, 2008 9:58pm Apr 25, 2008 9:58pm
Quoting jarroo
I trade off the Weekly, Daily and 4 hour. I had a great trade this morning with the GBP/JPY. Go here to see it in real time: Post#75388 page 5026

http://www.forexfactory.com/showthre...0582&page=5026

It was a Daily DBLHC and Inside Bar combo type formation. It proved very successful.

I am still in the trade with partial positions.

Partial postion of urs is LONG or Short??
  • #10,287
  • Edited 10:41pm Apr 25, 2008 10:18pm | Edited 10:41pm
Hello peeps,

just posting my long Cable trade of the 4hr. of this pin from down of the channel. Entry @ the break of the pin @ the red line, exit @ the yellow line because i targeted 100 pips and that was clearly seen like its the channels upper tl, or you could have taken profit @ 365ema (blue).

Nice trade, 100 pips, then it formed 1hr. pin from the upper tl and i rode it down for 40 pips and took profit @ 150ema because i saw no significant retrace based on my fib study.

So hope yall makin nice pips, just rememmber, be patient and the rest is in jims thread

Cheers Yall!
Attached Image (click to enlarge)
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  • #10,288
  • Apr 25, 2008 11:25pm Apr 25, 2008 11:25pm
Quoting sonicdeejay
Partial postion of urs is LONG or Short??
I guess you didn't read the link in my post. Partial position long at 206.14.
Indicators show the past. Price Action "Indicates" the future.
  • #10,289
  • Apr 25, 2008 11:37pm Apr 25, 2008 11:37pm
Quoting raczekfx
It appears, we end up with a weekly beovb.
Trade responsibly and have a great weekend all.

.
Cheers mate,already dropped down 300 pips from this beautifull dayly ib at the high and of course according to the weekly data, im posting a chart
Attached Image (click to enlarge)
Click to Enlarge Name: euro.d1.ib.gif Size: 27 KB
  • #10,290
  • Apr 26, 2008 1:59am Apr 26, 2008 1:59am
Then why do you have losses?

The movement of people basing their trading on previous price action reminds me of the Salem Witch Trials.... nobody REALLY knew anything, but they sure had a great way of pushing the so-called "facts" to the masses. It's great junk science, because people like to calculate the things in their everyday lives, and so people with "formulas" for trading are often taken at face value.

"Cool... I don't know anything.... teach me to trade...." WHO is your teacher, though? WHO is actually right?

Let it be known, until proven otherwise, any price movement is an isolated event, disconnected from any other event in time.

Quoting jarroo
Trendlines, fibs, S/R levels and some long term MAs are great tools to see where Price is heading and leading. Key words here are "heading" and "leading", not lagging.
  • #10,291
  • Apr 26, 2008 2:22am Apr 26, 2008 2:22am
Quoting belekas
Cheers mate,already dropped down 300 pips from this beautifull dayly ib at the high and of course according to the weekly data, im posting a chart
holding short postion of EUR/USD too...
http://www.forexfactory.com/showthre...=1#post1971232



btw..may i know what is beovb and how it look lik?




sonic
  • #10,292
  • Apr 26, 2008 2:32am Apr 26, 2008 2:32am
Quoting tdion
Then why do you have losses?
Because no one knows where Price will go.
Indicators show the past. Price Action "Indicates" the future.
  • #10,293
  • Apr 26, 2008 4:48am Apr 26, 2008 4:48am
Quoting jarroo
How nice is that Pin Bar on the AUD/USD Weekly woolley.
Hi Jarroo yep it turnt out to form a nice pinbar the price has pulled back near the 23.6 fib level already might look for a better entry at the 38.2 fib but will see where the price goes sunday/mon.

Have a great weekend.
  • #10,294
  • Apr 26, 2008 5:15am Apr 26, 2008 5:15am
Interesting setup on cable.

For

Previous week was a BUOB on weekly TF showing willing buyers.

Friday gave us a Daily BUOB.

Confluence of PPZ, 365 and broken trendline.

I was long cable on friday but have closed out before the weekend and will take a retrace to the 365 entry if the market makes it there.

Against

Euro weakness may help dollar bulls.
General indecision on cable monthly PA.
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  • #10,295
  • Apr 26, 2008 3:46pm Apr 26, 2008 3:46pm
Quoting belekas
Cheers mate,already dropped down 300 pips from this beautifull dayly ib at the high and of course according to the weekly data, im posting a chart
Nice belekas.

Off a new High. Off a PPZ. Off a Trendline. Talk about confluence!
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,296
  • Apr 26, 2008 3:54pm Apr 26, 2008 3:54pm
AUD/USD Weekly Pin Bar (candle).

Off of new Highs. Off of PPZ. Resting near a Trendline. Confluence.

This looks familar.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,297
  • Apr 26, 2008 3:55pm Apr 26, 2008 3:55pm
a lot of us following this one

edit wow Jim beat me by a few seconds!
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  • #10,298
  • Apr 26, 2008 3:59pm Apr 26, 2008 3:59pm
Quoting mbqb11
a lot of us following this one

edit wow Jim beat me by a few seconds!
Indicators show the past. Price Action "Indicates" the future.
  • #10,299
  • Apr 26, 2008 4:05pm Apr 26, 2008 4:05pm
Quoting jarroo
AUD/USD Weekly Pin Bar (candle).

Off of new Highs. Off of PPZ. Resting near a Trendline. Confluence.

This looks familar.

Will look for Daily Bearish PA to show us the way. (maybe even the 4 hour PA)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,300
  • Apr 26, 2008 4:49pm Apr 26, 2008 4:49pm
Jarroo,

Thanks for posting that, I really enjoy reading your stuff. BTW I posted about this in the Aussie Pairs thread as well.
Patience + Humility + Study = Success
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