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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

  • #2,381
  • Jan 30, 2007 10:54am Jan 30, 2007 10:54am
Hey guys whats up?

Just thought I'd tell everyone about the daily PB forming on the EUR/AUD. Its also off of a MM line and a 61 Fib. Guess we'll just have to wait 5-6 more hours and see what happens with that.

Also, I see many of you use IBFX. I was wondering if anyone would be kind enough to tell me the spreads for these currency pairs as I can't find them posted on the website anywhere. EURJPY, GBPJPY, EURAUD, GBPCHF.

Oh and i'll try to get a chart posted too.

Thanks.
  • #2,382
  • Jan 30, 2007 11:02am Jan 30, 2007 11:02am
Current spreads are:
EURJPY - 4
GBPJPY - 11
EURAUD - 11
GBPCHF - 12
they fluctuate all the time
  • #2,383
  • Jan 30, 2007 11:37am Jan 30, 2007 11:37am
thought I would post my gbp/usd trade. I always find myself over in the cable daily thread, watching everyone over analyze the markets to death. It is some real simple stuff sometimes.

This 1 hr pin then formed a 4hr pin. Taking profit from the 1 hour or you can hold with the 4 hr.
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  • #2,384
  • Jan 30, 2007 11:44am Jan 30, 2007 11:44am
very nice Mike! Plus it bounced from weekly pivot..
  • #2,385
  • Jan 30, 2007 11:46am Jan 30, 2007 11:46am
Quoting denonline
very nice Mike! Plus it bounced from weekly pivot..
bingo, when these setups happen they happen and you don't have to think twice. Gotta love what James teaches!
  • #2,386
  • Jan 30, 2007 1:28pm Jan 30, 2007 1:28pm
whre do you get 61.8. I see a pb forming at 76.4 retrace of the last move down
  • #2,387
  • Jan 30, 2007 2:36pm Jan 30, 2007 2:36pm
Quoting mbqb11
thought I would post my gbp/usd trade. I always find myself over in the cable daily thread, watching everyone over analyze the markets to death. It is some real simple stuff sometimes.

This 1 hr pin then formed a 4hr pin. Taking profit from the 1 hour or you can hold with the 4 hr.

Totally agree about the cable thread...
I went long at 1.9612 at the daily Dragonfly doji/PB, cut the long at 1.9650 and 1.9660 and reversed at 1.9650 as there was a retrace to the 1h pin bar open/close.
Price will do this a lot of times. I've also watched price fake out 1 pip past the low/high of the pin once it formed, then do the retrace, then move out, then go back to the low/high one last time before taking off for good....seems to be how the waves move a lot of times....very odd stuff and very irritating to see sometimes ;P

I'm with you mike, holding that cable short, hoping for a daily doji again but this time bearish, a bearish EURO pin on daily preferably, too. Also GJ and EJ seem to be pondering where to go next as well.

I'm slightly worried about a potential fakeout lower on EURUSD to 1.2920-30ish just to flip back long, but I guess that's part of the game...also my USDCHF survived until now, but 1.2500 is starting to creak under all the stress testing.....Mike, help me hold that trendline up
Trust price. Know yourself.
  • #2,388
  • Jan 30, 2007 3:22pm Jan 30, 2007 3:22pm
Looks like we're trading against each other once again. I'm long cable from 1.9580. Still holding. Targetting 2.0000 area. Will go short if 1.9540-50 gives in.
Keeping it Simple
  • #2,389
  • Jan 30, 2007 3:28pm Jan 30, 2007 3:28pm
Was long fiber too, but my limit got hit on that one. Looks like a rising "W" on the daily. Will probably go long again at a lower price. Will go short if 1.2860-75 breaks, and target the 1.2670 area.
Keeping it Simple
  • #2,390
  • Jan 30, 2007 5:29pm Jan 30, 2007 5:29pm
hey habeeb, do you surf, great surf in cape town, jeffreys bay.

westie
  • #2,391
  • Jan 30, 2007 5:44pm Jan 30, 2007 5:44pm
Quoting habeeb
Looks like we're trading against each other once again. I'm long cable from 1.9580. Still holding. Targetting 2.0000 area. Will go short if 1.9540-50 gives in.
Good to see someone else long.
We have pins forming on the daily gbp crosses, keep in mind there's strong support underneath current price (ie: 50EMA, 61.8 fibo and major trendline, nice confluence).
It will take a strong push to break the $1.94 area.
  • #2,392
  • Jan 30, 2007 6:25pm Jan 30, 2007 6:25pm
Jimmywa, to answer your question its the 61 fib ret from the high of 10-4-06 to the low of 1-22-07. Its also hitting a MM line and trendline.
  • #2,393
  • Edited Feb 1, 2007 1:05pm Jan 30, 2007 6:45pm | Edited Feb 1, 2007 1:05pm
Murrey math + FIbo is a good choice too...

Kind regards,
Marcelo Marques
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  • #2,394
  • Jan 31, 2007 2:19am Jan 31, 2007 2:19am
Well gbp/jpy is fast becoming my favourite pair at the moment, when it moves it MOVES!! Got in on the break of the daily pin bar this morning, first target is the 100ema on the 4hr chart at around 237.13 then hopefully 236.34ish
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  • #2,395
  • Jan 31, 2007 3:35am Jan 31, 2007 3:35am
Quoting habeeb
Looks like we're trading against each other once again. I'm long cable from 1.9580. Still holding. Targetting 2.0000 area. Will go short if 1.9540-50 gives in.
Targets for that short, including small TL Mouteki logic
Plus that 4h EMA you know.
But if the count is correct the C down we're in should go to either FE 61.8 100 or 161.8.
I'm assuming EURUSD and USDCHF will do a similiar dance. Aiming for 1.27+ on USDCHF and < 1.2900 on EURUSD. Also 235.00 on GJ tops, weak target hit on that already.
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Trust price. Know yourself.
  • #2,396
  • Jan 31, 2007 7:06am Jan 31, 2007 7:06am
Quoting SeekingLight
Targets for that short, including small TL Mouteki logic
Plus that 4h EMA you know.
But if the count is correct the C down we're in should go to either FE 61.8 100 or 161.8.
I'm assuming EURUSD and USDCHF will do a similiar dance. Aiming for 1.27+ on USDCHF and < 1.2900 on EURUSD. Also 235.00 on GJ tops, weak target hit on that already.
Seeking,

You're looking at similar lines to me.

...A little different. I drew mine using the daily chart. Also have a fib expansion right in line with the next 4 hour bars possible intersection with that trendline.

Personally I was aiming for where we are now. A direct trendline I had drawn on 4 hr. Bed time again. Not keen to hang around for these news items this week. As much as they are expected to be dollar positive. :

Where have all the easy trades gone!!? ...I would LOVE to see a pin or bullish engulfing bar off that trend line or something. PLEASE! LOL
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Bundy's status today: "Waiting..."
  • #2,397
  • Jan 31, 2007 7:36am Jan 31, 2007 7:36am
Why I'm not wanting to continue the short trade for now...

(I want a better trade entry somewhere else now. Another day! )
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Bundy's status today: "Waiting..."
  • #2,398
  • Jan 31, 2007 7:39am Jan 31, 2007 7:39am
Quoting bundyraider
Why I'm not wanting to continue the short trade for now...

(I want a better trade entry somewhere else now. Another day! )
come on bundy I am holding don't screw my position up now :
  • #2,399
  • Jan 31, 2007 7:42am Jan 31, 2007 7:42am
Still struggling on same line. It's getting hit hard though. Maybe a matter of time.

Thought I'd just show how valid this particular line has been by clicking down to the fifteen minute before hitten' the sack.

, Bundy
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Bundy's status today: "Waiting..."
  • #2,400
  • Jan 31, 2007 7:52am Jan 31, 2007 7:52am
Quoting mbqb11
come on bundy I am holding don't screw my position up now :
Hehe. Don't you hate that!? :

Oh yeah, and that other target happens to line up with my S3 line. So 9485 looks like an important area.
Bundy's status today: "Waiting..."
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