james16 Chart Thread | Page 544 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #10,861
  • May 19, 2008 6:13pm May 19, 2008 6:13pm
Quoting jarroo
Didn't I catch anyone on this? I didn't even get a warning from one of the Monitors about a rules violation. Man, tough crowd.

I was just trying to make the point about the value of the James16 Chart Thread. So many people are looking for something to improve their trading or are just starting out in this business. And right here at the old Factory is something that cost nothing monetarily, but you have to put the time in and study it from the beginning.

Jim and so many others on this thread are just fantastic people. They give up their valuable time and to help people who are willing to learn what PA is all about.

It's Priceless in my book.

Jim

I second you on this one the hills have eyes shows the quality of this place !!

EDIT: oops i did read to fast and assumed u got an violation hmmm

The price action course just became dearer! New price : Sweat,Blood and long long lonely (physical) hours in front of ur screens !
  • #10,862
  • May 19, 2008 6:32pm May 19, 2008 6:32pm
Quoting AidanPryde
I second you on this one the hills have eyes shows the quality of this place !!

EDIT: oops i did read to fast and assumed u got an violation hmmm

The price action course just became dearer! New price : Sweat,Blood and long long lonely (physical) hours in front of ur screens !

I wish I got a rules warning. That would have been funny. Those Monitors are a crafty group.
Indicators show the past. Price Action "Indicates" the future.
  • #10,863
  • May 19, 2008 6:59pm May 19, 2008 6:59pm
Does anyone have any thoughts about the weekly BUOVB and matching highs the last two days on the daily for AUDUSD?
  • #10,864
  • May 19, 2008 8:52pm May 19, 2008 8:52pm
Quoting jarroo
I wish I got a rules warning. That would have been funny. Those Monitors are a crafty group.
Is that a request for one of us to send a clean up report to Twee?
Bundy's status today: "Waiting..."
  • #10,865
  • May 19, 2008 8:55pm May 19, 2008 8:55pm
Quoting bundyraider
Is that a request for one of us to send a clean up report to Twee?
Oh it's already been done, I'm kidding of course Jarroo...
  • #10,866
  • May 19, 2008 9:00pm May 19, 2008 9:00pm
Quoting Pip Engineer
Does anyone have any thoughts about the weekly BUOVB and matching highs the last two days on the daily for AUDUSD?
Sorry a little late to reply here, but I've been long since Wed. and seen the BUOVB as a sign of what's most likely to happen next. ...and did. lol

The BUOVB gives me reason to watch for an additional entry though. ...Maybe later on today or tomorrow. I'll just have to wait and see.

Looking good for 96.50 area though , by the looks.

After that... Bring on parity!!!!! LOL ....maybe.
Bundy's status today: "Waiting..."
  • #10,867
  • May 20, 2008 4:40am May 20, 2008 4:40am
I think I might be able to move my stop loss (1.9355) from under the Pin Bar. Not sure yet.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,868
  • May 20, 2008 4:58am May 20, 2008 4:58am
Quoting jarroo
I think I might be able to move my stop loss (1.9355) from under the Pin Bar. Not sure yet.
Why not move it up a little?

If it was my trade, now that we have broken the high of the BEOB, I'd be moving it to 20 pips below the BEOB @ 1.9430 , even if it's still not at BE there.
Bundy's status today: "Waiting..."
  • #10,869
  • Edited 5:18am May 20, 2008 5:04am | Edited 5:18am
Quoting bundyraider
Why not move it up a little?

If it was my trade, now that we have broken the high of the BEOB, I'd be moving it to 20 pips below the BEOB @ 1.9430 , even if it's still not at BE there.
Wow, bundy. What did you say to the Pound. That baby is flying.

Thanks bundy I was waiting for 1.9600 to act as support. But the BEVOB sounds good to me. 1.9430 (38.2)

Edit: I had the Fibs upside down. Duh.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,870
  • May 20, 2008 5:32am May 20, 2008 5:32am
Quoting jarroo
Wow, bundy. What did you say to the Pound. That baby is flying.
Wish I knew. lol

I'm mindful of that upper trendline and what may happen there. With how quick it's getting there mate it's tricky for my way of trading.

Like you mentioned, would be cool if 9600 acts as support.
Bundy's status today: "Waiting..."
  • #10,871
  • May 20, 2008 5:38am May 20, 2008 5:38am
Quoting bundyraider
Wish I knew. lol

I'm mindful of that upper trendline and what may happen there. With how quick it's getting there mate it's tricky for my way of trading.

Like you mentioned, would be cool if 9600 acts as support.

Looks like a good place to slow down at least.

Or maybe bounce down and hit the 1.9600 as support. How's that sound?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,872
  • May 20, 2008 5:43am May 20, 2008 5:43am
Quoting jarroo
Looks like a good place to slow down at least.
Thinking like me dude!
Bundy's status today: "Waiting..."
  • #10,873
  • May 20, 2008 5:50am May 20, 2008 5:50am
Quoting bundyraider
Thinking like me dude!
What you didn't like my "bounce down then hit 1.9600 as support" scenario?
Indicators show the past. Price Action "Indicates" the future.
  • #10,874
  • May 20, 2008 5:52am May 20, 2008 5:52am
Quoting jarroo
What you didn't like my "bounce down then hit 1.9600 as support" scenario?
No. I totally agree. Sorry mate, I was saying great minds think alike. lol
Bundy's status today: "Waiting..."
  • #10,875
  • May 20, 2008 5:56am May 20, 2008 5:56am
Quoting bundyraider
No. I totally agree. Sorry mate, I was saying great minds think alike. lol
Indicators show the past. Price Action "Indicates" the future.
  • #10,876
  • May 20, 2008 5:58am May 20, 2008 5:58am
This was my trade progression:

Initial PB long, add on third 4h TL touch(not drawn in as this one is already a bit cluttered - but I'm sure you'll be able to find it: just connect the first two lows), then took it up to 1.96.
Around that bit I wanted to watch for PA and react accordingly, and around that time I suffered 2-3 hours of power outage. When it was back on, I saw a triggered 4h PB and a lot of red...oh well, still got a bit.

It looked like a 5 wave set(strange EW nrs on chart, just something I try myself at parallel) and with a retrace right to .618 and a weekly stubby PB, waited for 1h stalling and something else to tell me this wasn't going to just rush-and-crush on. When I got that, got back in(based on the weekly setup -> retrace entry) and put stops below 1.9390 initially(second lowest low, invalidation point for me), then moved them in as we moved to 1.96.

And here I am waiting to see whether 1.9666 goes and 1.97 is hit...

Also took a bit off above 1.96 as there's 1-2 other reasons why price may or not give back a little.

Had it not been for the power loss, it would have been one great trade progression, and I would have possibly even taken a small short on the 4h down to either 1.95 s/r or the TL(i.e. very small / short term due to the s/r and weekly PB).
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_80520_trade_progression.gif Size: 21 KB
Trust price. Know yourself.
  • #10,877
  • May 20, 2008 6:11am May 20, 2008 6:11am
Quoting SeekingLight
This was my trade progression:

Initial PB long, add on third 4h TL touch(not drawn in as this one is already a bit cluttered - but I'm sure you'll be able to find it: just connect the first two lows), then took it up to 1.96.
Around that bit I wanted to watch for PA and react accordingly, and around that time I suffered 2-3 hours of power outage. When it was back on, I saw a triggered 4h PB and a lot of red...oh well, still got a bit.

It looked like a 5 wave set(strange EW nrs on chart, just something I try myself at parallel) and with a retrace right to .618 and a weekly stubby PB, waited for 1h stalling and something else to tell me this wasn't going to just rush-and-crush on. When I got that, got back in(based on the weekly setup -> retrace entry) and put stops below 1.9390 initially(second lowest low, invalidation point for me), then moved them in as we moved to 1.96.

And here I am waiting to see whether 1.9666 goes and 1.97 is hit...

Also took a bit off above 1.96 as there's 1-2 other reasons why price may or not give back a little.

Had it not been for the power loss, it would have been one great trade progression, and I would have possibly even taken a small short on the 4h down to either 1.95 s/r or the TL(i.e. very small / short term due to the s/r and weekly PB).
Glad to see you got your power back on.

Got to love that PB(4h/Daily/Weekly). If that doesn't scream at you, nothing will.

Do you see a retrace in the Weekly PB's future? (1.9632 break)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,878
  • May 20, 2008 7:21am May 20, 2008 7:21am
Pity I moved my stops up so soon and got out on the cable. Nice to see you are still chugging along.
Hindsight is 20/20
  • #10,879
  • May 20, 2008 8:30am May 20, 2008 8:30am
Quoting jarroo
Glad to see you got your power back on.

Got to love that PB(4h/Daily/Weekly). If that doesn't scream at you, nothing will.

Do you see a retrace in the Weekly PB's future? (1.9632 break)
I've no idea. We've already had our .618 / eye level retrace, dunno if there's more. How could I know?

Thing is - we don't HAVE to know. We can just see what happens.

That what I have left on I will let do whatever it wants to, much like what Bundyraider wrote

Can't lose with stops up.
Trust price. Know yourself.
  • #10,880
  • May 20, 2008 8:52am May 20, 2008 8:52am
One of the more exotic pairs (good ol' North Finance), but a nice looking pin bar on AUDSGD 4hr today. Only problem is that it is against the long term trend (at least on the 4hr chart).
Attached Image (click to enlarge)
Click to Enlarge Name: audsgd-5.20.08.gif Size: 12 KB
39 traders viewing now, 1 is registered:
Gainfaciles