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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

  • #2,401
  • Jan 31, 2007 7:58am Jan 31, 2007 7:58am
Quoting bundyraider
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.

I just ask my magic 8ball when to exit. Weird thing keeps saying Ask again. so I guess I will hold all my positions(still short euro pound and gbp/chf
  • #2,402
  • Jan 31, 2007 8:33am Jan 31, 2007 8:33am
I'm starting to think the pairs are timeshifted. I.e. cable got a timewarp with the hike and went into the future. USDCHF also a bit thanks to EURCHF.
Now EURUSD may be ready to make one last high near 1.3 from here and then perhaps do an ABC lower again or collapse, or move on or something. Either way, the pattern suggests a rise oddly. USDCHF has already gone through this, it already rose to that new high on the 26th and extended it a bit today...
It's all a bit esoteric, eh? But that's what I'm seeing...Those sterling shorts and CHF longs should work though Mike
Trust price. Know yourself.
  • #2,403
  • Jan 31, 2007 8:59am Jan 31, 2007 8:59am
There we go

Also cable is doing a 2x1h pin off Bundys TL, someone call him, quick!
Trust price. Know yourself.
  • #2,404
  • Jan 31, 2007 9:21am Jan 31, 2007 9:21am
Quoting SeekingLight
Now EURUSD may be ready to make one last high near 1.3 from here
Well, there it is
Bundy, did you catch the TL ride? I'm currently waiting for the retrace to enter....

Btw, that EURUSD rise coincided with the USDCHF 4h bearish pin bar...I shoulda been in that trade :S
Just like the 1h +4h EJ PB....momma mia, so many pips I forgot today...
Trust price. Know yourself.
  • #2,405
  • Jan 31, 2007 10:09am Jan 31, 2007 10:09am
Quoting SeekingLight
Well, there it is
Bundy, did you catch the TL ride? I'm currently waiting for the retrace to enter....

Btw, that EURUSD rise coincided with the USDCHF 4h bearish pin bar...I shoulda been in that trade :S
Just like the 1h +4h EJ PB....momma mia, so many pips I forgot today...
that was some crazy swinging in momentum lol. Closed my gbp/chf to cover my euro loss and then only ended up with 70 on my gbp. All that work for not much lol Oh well hope you all faired better

Mike
  • #2,406
  • Jan 31, 2007 10:13am Jan 31, 2007 10:13am
Market was very sensitive to negative paulsons' comments regarding dollar. I glad I closed my cable short before the speech :-)
  • #2,407
  • Jan 31, 2007 11:05am Jan 31, 2007 11:05am
Thought I would post my gbp/jpy trade of today. This is daily chart, PB on 61,8 fib retracement. Easily made 162 pips. That’s great stuff. Thanks Jim!
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  • #2,408
  • Jan 31, 2007 11:15am Jan 31, 2007 11:15am
Quoting Westie
hey habeeb, do you surf, great surf in cape town, jeffreys bay.

westie
No yet Westie. Will have to try it out some time.
Keeping it Simple
  • #2,409
  • Jan 31, 2007 11:19am Jan 31, 2007 11:19am
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.
Don't you just love it when TPs for your shorts become entries for your long trades and vice versa..?
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  • #2,410
  • Jan 31, 2007 11:27am Jan 31, 2007 11:27am
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.
I hate breakeven trades, especially if it happens after a day or 2.
Keeping it Simple
  • #2,411
  • Jan 31, 2007 11:31am Jan 31, 2007 11:31am
Quoting bundyraider
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.
Spot on Bundy.
Keeping it Simple
  • #2,412
  • Jan 31, 2007 12:20pm Jan 31, 2007 12:20pm
What do you guys think of that 1H BUY Pin for the USDJPY?

Also price is touching a trendline for USDCHF. It might bounce off and continue the uptrend.
  • #2,413
  • Jan 31, 2007 12:28pm Jan 31, 2007 12:28pm
ive been sick for over a week but im watching. you guys amaze me. good job to all.

jim
  • #2,414
  • Jan 31, 2007 12:34pm Jan 31, 2007 12:34pm
trying to figure out timezone of posts
this is a test
  • #2,415
  • Jan 31, 2007 1:36pm Jan 31, 2007 1:36pm
Quoting moneybags
What do you guys think of that 1H BUY Pin for the USDJPY?

Also price is touching a trendline for USDCHF. It might bounce off and continue the uptrend.
Well, nevermind. Those aren't looking too good right now...

BTW, did anyone get in on this nice Weekly Pin for NZDUSD?
Good for 100 pips. (if you entered on the break)
I missed it....
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  • #2,416
  • Jan 31, 2007 2:07pm Jan 31, 2007 2:07pm
Quoting mbqb11
that was some crazy swinging in momentum lol. Closed my gbp/chf to cover my euro loss and then only ended up with 70 on my gbp. All that work for not much lol Oh well hope you all faired better

Mike

Yes, it was mayhem...
Closed out my stuff as well. Scalped some small pips on cable, lost enough on EURUSD, didn't get much of the crosses action.
I did however manage to catch a nice oil trade. I'm gonna post some pictures because the basic price behavior is exactly what I keep seeing on FX, too. Move out, return with the bus to pick up stragglers at previous highs/lows, then move out. Usually it's also the .618 from the last low to the last high.
What a horrible day though, have a real headache...


Weekly PB on oil first
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  • #2,417
  • Jan 31, 2007 2:10pm Jan 31, 2007 2:10pm
Daily view of the weekly retrace
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  • #2,418
  • Jan 31, 2007 2:13pm Jan 31, 2007 2:13pm
Now 2 strictly daily setups - a failed BEOB that turned into a DBLHC with the next bar. This is a CLASSIC example of how BEOB entered on "break" are NOT a good idea instead of retrace. This is now fast becoming my personal conviction. They can and will fake you out. This one moved out 3 pips before reversing far above the actual BEOB. Would have completely wiped you out. Entering at more break distance is another bad tradeoff as you might be "safer" but still get faked out and have more stop that way.
Had you waited for a retrace entry and setup on a lower timeframe you most likely would not have seen many...
Also looking at weekly you would have known it to be risky to go short.
Always pays to know the big picture.
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  • #2,419
  • Jan 31, 2007 2:17pm Jan 31, 2007 2:17pm
And finally my entry into the BUOB / DBLHC on 5m from the daily setup and using some of my recently acquired Elliot Wave ideas

Still mostly guesswork, but if you watch the daily patterns of the 16:00-17:00 fix and the 19:00-20:00 fix which move oil massively you get an idea of how they form the lows and hooks and so forth...

Can of course massively go wrong, too, but hey, had the daily on my side on this one

DO NOT TRY THIS AT HOME!

Edit: Yay for 600th post! ;D
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  • #2,420
  • Jan 31, 2007 2:52pm Jan 31, 2007 2:52pm
take a look at that. dont know if its a pin
but it is almost a perfect Dragonfly Doji
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