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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

  • #12,541
  • Aug 13, 2008 3:45pm Aug 13, 2008 3:45pm
Quoting Jordann
thoughts on this eur/aud pin??
me? asking about ppz ... couldn't be ...

anyway, i am perplexed by this potential pin bar. assuming it closes as a pin, i see a wall of s/r in november/december 2007, but then price had no problem busting through (i believe jarroo used an expression using the word "butter") that wall in march/april 2008. for purposes of this pin, does the nov/dec 07 region still carry weight here or does the mar/apr 08 move negate (for lack of a better word) it as a factor for our analysis today?

thank you for your help ... again ...
"Believe nothing you hear and half of what you see." Proverb
  • #12,542
  • Aug 13, 2008 3:53pm Aug 13, 2008 3:53pm
Quoting jarroo
But that is no reversal. Don't be thinking this thing is turning around don't be fooled . . . . It's falling like a brick as I speak, nice.
When Price falls over 400 pips and then retraces 100 pips it is not a reversal.
hi jarroo, you where right this morning, I was fooled, I better waited for
the daily.

I hasnīt have much time, I watched 30 sec on the chart, entered,
set SL and TP and go to work.

But I donīt lost much, other crosses gave me

Good work from you here
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  • #12,543
  • Aug 13, 2008 4:12pm Aug 13, 2008 4:12pm
Seems like a night of pin bars tonight. Another one on EURJPY.
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Trax Tibidax Tibidox...
  • #12,544
  • Aug 13, 2008 4:13pm Aug 13, 2008 4:13pm
Thanks for the feedback guys I can't wait for my new macbook and MT4. Let's keep up the great pin hunting and charts in the meantime though eh
Money & Pain Respect the market, protect your capital, be patient
  • #12,545
  • Aug 13, 2008 4:42pm Aug 13, 2008 4:42pm
There are definitely a bunch of opportunities today. Be aware of the correlation risks though before playing multiple setups.

I'm thinking the dollar bulls are out of steam right now. We shall see though.
Kiss'n all the way to the top!
  • #12,546
  • Aug 13, 2008 5:01pm Aug 13, 2008 5:01pm
Quoting the_wizard
Greetings from London.

It's been a while since I've been here but hope that Jim and all you guys are doing well.

Some big moves lately in the majors. I feel that Cable may present a good buying opportunity in the region of 1.8500 - 1.8600. I'll wait and see what the PA shows.

Tom
Sup Wiz
How's it going?
Doing alright, hope same for you.

As for cable - until EURGBP peaks(still has a new high to make in my logic) you can guess what scenarios and trades I'll prefer
Trust price. Know yourself.
  • #12,547
  • Aug 13, 2008 6:36pm Aug 13, 2008 6:36pm
Quoting Forex007
Perhaps, adding to the position (under right conditions) is a better way to increase position size, especially if you can increase the size and still move SL to a BE point...
Can be for sure. Adding to positions is another skill to learn, of course. Once the basics are truly mastered.
Adding at the wrong time can kill a lot of ground work you've laid down , and worse.

I'm glad Seeking added his view too. ...Mine's never conservative enough.

I don't totally agree about randomising the equity curve, though, Seeks.
It can if done inappropriately, of course, but I find it very powerful using chosen risk percentages in certain situations.

.
Bundy's status today: "Waiting..."
  • #12,548
  • Aug 13, 2008 8:26pm Aug 13, 2008 8:26pm
There were some juicy looking pins on IBFX about an hour before close....during the last 60 minutes they kinda got diluted.
  • #12,549
  • Aug 13, 2008 8:45pm Aug 13, 2008 8:45pm
hi all,

anybody found ppz or fib ret arround this pin ?

http://i222.photobucket.com/albums/d...udusddaily.gif
  • #12,550
  • Aug 13, 2008 9:07pm Aug 13, 2008 9:07pm
Quoting CandlePower
hi all,

anybody found ppz or fib ret arround this pin ?

http://i222.photobucket.com/albums/d...udusddaily.gif
Go to your weekly chart CP. Was expecting it to stop around here at the 8660 area. ...23.6% fib. I just wish there was a cleaner chart to draw other fibs off of! At the moment I'd be just making s*** up.

I did have a PPZ drawn, but it's not that convincing. Just one I drew last week as a guess.

Nice looking candle (edit: I mean Pin!!) on your chart. Great looking in fact. Looks very neutral on IBFX though. (Can't be fagged looking at my other sources. lol )

I want to trade what I see here.

If I had your chart though, i'd be happy trading a break high. Fibs based on weekly charts and large range high/lows are pretty strong. Hence the current stall/potential reversal)

Maybe today's close will clear things up.
.
Bundy's status today: "Waiting..."
  • #12,551
  • Aug 13, 2008 9:34pm Aug 13, 2008 9:34pm
Quoting CandlePower
hi all,

anybody found ppz or fib ret arround this pin ?
Support from low back in late 2007/early 2008 is around this area too (monthly chart).
  • #12,552
  • Aug 13, 2008 9:38pm Aug 13, 2008 9:38pm
Quoting saskgui
There were some juicy looking pins on IBFX about an hour before close....during the last 60 minutes they kinda got diluted.
Yeah no doubt. I went out for a bit and come home to look on the PC and all the potential pins turned into neutral bars this evening. These markets are insane.
"Don't trade to trade . . . trade to win." - James16
  • #12,553
  • Aug 13, 2008 9:48pm Aug 13, 2008 9:48pm
Quoting NuckingFuts
Support from low back in late 2007/early 2008 is around this area too (monthly chart).
That's the PPZ I have. A bit Messy though.
Shows how picky I've really gotten. lol
Bundy's status today: "Waiting..."
  • #12,554
  • Aug 13, 2008 10:02pm Aug 13, 2008 10:02pm
Quoting bundyraider
That's the PPZ I have. A bit Messy though.
Shows how picky I've really gotten. lol
Yea mate agree, don't like the two bar drop down

Would like to see a better reversal pattern for this trend though. Bounce here up to 0.93ish and back down would give us a nice H&S pattern
  • #12,555
  • Aug 13, 2008 10:15pm Aug 13, 2008 10:15pm
Quoting NuckingFuts
Yea mate agree, don't like the two bar drop down
Check out what happened this time last year. During.... surprise, surprise ...US vacation time.

Quote
Would like to see a better reversal pattern for this trend though. Bounce here up to 0.93ish and back down would give us a nice H&S pattern
As much I try not to trade expectations now, I'm thinking a bounce here too. Maybe as you said . Or maybe a range? Maybe to new highs?

One thing's for sure. I'll be more than happy to build up a series of long positions from here to .98 again.
Bundy's status today: "Waiting..."
  • #12,556
  • Aug 13, 2008 10:28pm Aug 13, 2008 10:28pm
Quoting phpscott
Awesome, Ghous! I entered short on the break of the weekly IB. Looks like we may have hit a wall at 204 though... we'll see.

Scott
yes we might, but i still prefer to run it till i see a proper bounce...
I believe . . .
  • #12,557
  • Aug 13, 2008 10:42pm Aug 13, 2008 10:42pm
Quoting bundyraider
Check out what happened this time last year. During.... surprise, surprise ...US vacation time.

As much I try not to trade expectations now, I'm thinking a bounce here too. Maybe as you said . Or maybe a range? Maybe to new highs?

One thing's for sure. I'll be more than happy to build up a series of long positions from here to .98 again.
Yea mate, very true. We've got to be in it to win it.

Only thing I see against us is the talk of an interest rate drop. 50 bps is a little optimistic when our inflation has not really dropped yet.

That said, I do love collecting swap on this pair and hate paying it, so I hope the market movers feel the same way
  • #12,558
  • Aug 13, 2008 11:23pm Aug 13, 2008 11:23pm
thnx bundy & NF for yur comments.

i will watch it closely.
  • #12,559
  • Aug 13, 2008 11:51pm Aug 13, 2008 11:51pm
Sounds like we have the same plan. I moved my SL closer but was not real convinced either. If it does make it through, plenty of room below.

Scott

Quoting ghous
yes we might, but i still prefer to run it till i see a proper bounce...
  • #12,560
  • Aug 14, 2008 12:00am Aug 14, 2008 12:00am
I passed on this one myself. I did not see any convincing confluence. I saw the fib but that's it. I try to take only the best setups. I place FAR fewer trades than 12 months ago but my account seems to like it! Being EXTREMELY picky is key.

Scott

Quoting bundyraider
Go to your weekly chart CP. Was expecting it to stop around here at the 8660 area. ...23.6% fib. I just wish there was a cleaner chart to draw other fibs off of! At the moment I'd be just making s*** up.

I did have a PPZ drawn, but it's not that convincing. Just one I drew last week as a guess.

Nice looking candle (edit: I mean Pin!!) on your chart. Great looking in fact. Looks very neutral on IBFX though. (Can't be fagged looking at my other sources. lol )

I want to trade what I see here.

If I had your chart though, i'd be happy trading a break high. Fibs based on weekly charts and large range high/lows are pretty strong. Hence the current stall/potential reversal)

Maybe today's close will clear things up.
.
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