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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

  • #10,681
  • May 8, 2008 2:14pm May 8, 2008 2:14pm
Hello!

Is anyone thinking about taking this one?
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  • #10,682
  • May 8, 2008 2:18pm May 8, 2008 2:18pm
Quoting bee24
Hello!

Is anyone thinking about taking this one?
Im waiting for a small retracement to 103.70-80 before getting in. If it doesn't get there, then oh well- I can get in at the confirmation bar for a more reliable trade.
I dream, therefore I become.
  • #10,683
  • May 8, 2008 2:25pm May 8, 2008 2:25pm
I'm taking the Nzd/Jpy one, waiting for it to come down a bit more
Patience + Humility + Study = Success
  • #10,684
  • May 8, 2008 2:29pm May 8, 2008 2:29pm
Quoting DutchTrader
I'm taking the Nzd/Jpy one, waiting for it to come down a bit more
I love being in good company.
I dream, therefore I become.
  • #10,685
  • May 8, 2008 2:30pm May 8, 2008 2:30pm
Quoting initex
Hi everyone! Could someone explane to me about SMA. I have found in this thread 150; 200; 365 SMA, but what is the meaning of theese moving averages? Sorre for a newbie quest...
Hi Initex, if you'll plot them out on your charts, you will see that they can be used to note areas of support and resistance. Just try it and you'll see how price will, at times, stall and possibly reverse in these areas.
I dream, therefore I become.
  • #10,686
  • May 8, 2008 2:32pm May 8, 2008 2:32pm
The pleasure's all mine brother
Patience + Humility + Study = Success
  • #10,687
  • May 8, 2008 2:33pm May 8, 2008 2:33pm
Quoting initex
Hi everyone! Could someone explane to me about SMA. I have found in this thread 150; 200; 365 SMA, but what is the meaning of theese moving averages? Sorre for a newbie quest...
Those EMAs can be used as support or resistance points.
Put them on your charts and go back to see how price reacts when it approaches those MAs. Many times it will be rejected.

Tom

EDIT: Mike W beat me to it.....
  • #10,688
  • Edited 7:04pm May 8, 2008 2:58pm | Edited 7:04pm
Quoting mike w
I took a position on the eur/cad thanks to hipsterpipster posting and bringing it to my attention - Thanks man! Right now, we are up by 100 pips since yesterday and I look for it to keep on trucking actually.

As for the gbp/jpy you guys were talking about, we are at the bottom of the range now and it looks to be holding so be on the lookout for good PA at the end of the day unless your already in a position - Good luck!
I have to give the credit to Masterpiecefx. I do not usually watch this pair, and saw his post here.
  • #10,689
  • May 8, 2008 7:02pm May 8, 2008 7:02pm
http://i25.tinypic.com/2w6f60o.gif

I'm in this one. Go Euro bullz!
100% of traders are losers. Just that some win more than they lose!
  • #10,690
  • May 8, 2008 7:39pm May 8, 2008 7:39pm
I'm out of EURCAD at 5651, nice and quick run.

On eurusd there's bearish pin bar on 4hr, so I don't know if getting in on a daily pin bar right away is a good idea in this case. What do you guys think?
Trax Tibidax Tibidox...
  • #10,691
  • May 8, 2008 10:14pm May 8, 2008 10:14pm
Quoting DutchTrader
I'm taking the Nzd/Jpy one, waiting for it to come down a bit more

Quoting mike w
I love being in good company.
... You guys are joking, right?
This is not even close to C trade. Unless you're scalping 10 pips, going against that weekly BEB makes no sense, at least to me. Before going down to 4hr make sure you're profitable on daily and weekly for at least several months. If you're not, there are plenty of others who will be happy to take money away from you.. on 4hr......

p.s. market will be here tomorrow. have patience and your account will grow faster than you think...
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  • #10,692
  • May 8, 2008 11:51pm May 8, 2008 11:51pm
Quoting raczekfx
... You guys are joking, right?
This is not even close to C trade. Unless you're scalping 10 pips, going against that weekly BEB makes no sense, at least to me. Before going down to 4hr make sure you're profitable on daily and weekly for at least several months. If you're not, there are plenty of others who will be happy to take money away from you.. on 4hr......

p.s. market will be here tomorrow. have patience and your account will grow faster than you think...
I have to admit, I took the gj pin. It actually looked good to me on Alpari. But....I learned that it is safer to let price come to you nice and softly in its own natural market breathing, not when it is hyperventilating.http://www.james16group.us/forums/im...lies/smile.gif Its easier to pick cherries when they are motionless on the branch then to run around and catch them when falling.
  • #10,693
  • Edited 12:53am May 9, 2008 12:35am | Edited 12:53am
Quoting HipsterPipster
I have to admit, I took the gj pin. It actually looked good to me on Alpari. But....I learned that it is safer to let price come to you nice and softly in its own natural market breathing, not when it is hyperventilating.http://www.james16group.us/forums/im...lies/smile.gif Its easier to pick cherries when they are motionless on the branch then to run around and catch them when falling.
Ditto that. . . and so did I.
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Indicators show the past. Price Action "Indicates" the future.
  • #10,694
  • May 9, 2008 12:39am May 9, 2008 12:39am
Quoting jarroo
Ditto that. . . and so did I.

How can I attach a chart in a quote????


I also took the pin but was suspicious about it because UJ did not form a pin. Also GU did not form a pin, it just short up. I took it because of the interest rate. I thought the market had priced the rate into the pin.
  • #10,695
  • May 9, 2008 2:42am May 9, 2008 2:42am
Quoting raczekfx
... You guys are joking, right?
This is not even close to C trade. Unless you're scalping 10 pips, going against that weekly BEB makes no sense, at least to me. Before going down to 4hr make sure you're profitable on daily and weekly for at least several months. If you're not, there are plenty of others who will be happy to take money away from you.. on 4hr......

p.s. market will be here tomorrow. have patience and your account will grow faster than you think...
I ended up not taking it, the nzd/jpy pin after watching awhile, still more to learn. Thanks bro.
Patience + Humility + Study = Success
  • #10,696
  • May 9, 2008 3:11am May 9, 2008 3:11am
I took it and the UJ both hit stop loss lesson learned though. gonna wait for more nice trades to come to me..
  • #10,697
  • May 9, 2008 3:24am May 9, 2008 3:24am
Quoting woolley
I took it and the UJ both hit stop loss lesson learned though. gonna wait for more nice trades to come to me..
Then that loss wasn't a loss at all. It was a gain in knowledge.
Indicators show the past. Price Action "Indicates" the future.
  • #10,698
  • May 9, 2008 3:27am May 9, 2008 3:27am
What was the reason the GJ 4hour pin wasn't so good afterall, because of the preceeding volatile drop instead of a more stable approach to the setup?
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #10,699
  • May 9, 2008 3:29am May 9, 2008 3:29am
exactly Jarroo I look at it as tuition fees..
ive also narrowed down the pairs im looking so I can analyse them in more detail, just waiting for some nice A trades to come to me now.
  • #10,700
  • May 9, 2008 3:31am May 9, 2008 3:31am
Quoting woolley
exactly Jarroo I look at it as tuition fees..
ive also narrowed down the pairs im looking so I can analyse them in more detail, just waiting for some nice A trades to come to me now.
My thoughts exactly.
Indicators show the past. Price Action "Indicates" the future.
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