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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

  • #14,641
  • Oct 22, 2008 10:09pm Oct 22, 2008 10:09pm
I agree with something big being cooking up on this pair... just look at the chart for the last year.
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  • #14,642
  • Oct 22, 2008 10:11pm Oct 22, 2008 10:11pm
waiting...watching
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  • #14,643
  • Oct 22, 2008 10:29pm Oct 22, 2008 10:29pm
Quoting stoli7188
James thank you very much for those new charts, its always very refreshing.

Anyway here's my trade from today, seemed like a lot of pairs had big moves so i didn't have any setups on those pairs.

Playing the inside bar (indecision) with a break out to the short side. Feel free to comment, stop at 1.9495, sell stop entry at 1.8887.
I like Inside Bars that are smaller in range. Even though it may be a I4B or a I5B, I7B, I10B. I would like to see a smaller range. They tend to foresee a larger breakout. imo
Indicators show the past. Price Action "Indicates" the future.
  • #14,644
  • Oct 23, 2008 12:16am Oct 23, 2008 12:16am
Quoting jarroo
I like Inside Bars that are smaller in range. Even though it may be a I4B or a I5B, I7B, I10B. I would like to see a smaller range. They tend to foresee a larger breakout. imo
....Yep, just ask Bundy.

They tend to be better when sitting at the extreme of the long bars leading into them too. ...like a flag pole. (Pennant)
Bundy's status today: "Waiting..."
  • #14,645
  • Oct 23, 2008 12:34am Oct 23, 2008 12:34am
Quoting Safive
looks like a good BUOB on EURCAD daiy chart. My worry is that we are almost at a resistance point. Good trade or stay away


Please I still need a response
  • #14,646
  • Edited 1:02am Oct 23, 2008 12:40am | Edited 1:02am
Quoting Safive
Please I still need a response
Hi Safive,

I wouldn't go long yet. You're right about that resistance

...You want something to happen above the resistance line first before entering.

I'll edit this post and add a chart for you in a few minutes...

Edit: Chart added. ...Also the BUOB you mention is a possible early warning sign of an impending break. Good spotting. Personally, I like to see a close that's closer to it's high in this case, but it don't matter when you aren't trading till after a break anyway. More experienced traders might enter a limit buy to trigger at the top yellow line AFTER we have a decent break of 100 or more pips above it. Riskier though. You'd want the breaking bar to CLOSE way above the top line first before placing that order IMO. ...A nice tidy pullback pattern with space underneath it is handy.
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Bundy's status today: "Waiting..."
  • #14,647
  • Oct 23, 2008 2:23am Oct 23, 2008 2:23am
Quoting bundyraider
Hi Safive,

I wouldn't go long yet. You're right about that resistance

...You want something to happen above the resistance line first before entering.

I'll edit this post and add a chart for you in a few minutes...

Edit: Chart added. ...Also the BUOB you mention is a possible early warning sign of an impending break. Good spotting. Personally, I like to see a close that's closer to it's high in this case, but it don't matter when you aren't trading till after a break anyway. More experienced traders might enter a limit buy to trigger at the top yellow line AFTER we have a decent break of 100 or more pips above it. Riskier though. You'd want the breaking bar to CLOSE way above the top line first before placing that order IMO. ...A nice tidy pullback pattern with space underneath it is handy.

Thanks Bundyraider, patience is the game
  • #14,648
  • Oct 23, 2008 3:12am Oct 23, 2008 3:12am
Quoting Safive
Thanks Bundyraider, patience is the game
Don't worry.

I don't think we'll be waiting that long.

If it weren't for that blue box I drew, I'd consider a small order on the break. It may be a slow drive after that break at first.
Bundy's status today: "Waiting..."
  • #14,649
  • Oct 23, 2008 6:18am Oct 23, 2008 6:18am
Quoting bundyraider
Don't worry.

I don't think we'll be waiting that long.

If it weren't for that blue box I drew, I'd consider a small order on the break. It may be a slow drive after that break at first.

The resistance has been broken, I mean the entire blue zone. I am watching on a H1 TF for a PA. If that happens I'll go long. what thinkest thou?
  • #14,650
  • Oct 23, 2008 6:33am Oct 23, 2008 6:33am
Quoting Safive
The resistance has been broken, I mean the entire blue zone. I am watching on a H1 TF for a PA. If that happens I'll go long. what thinkest thou?
Thou thinkest 1.6322 should be kept in mind.

I'm going to watch the daily and 4 hour charts at this time.

Keen to see a close above 1.6322 first. (March 31 High)
Bundy's status today: "Waiting..."
  • #14,651
  • Oct 23, 2008 6:40am Oct 23, 2008 6:40am
Quoting bundyraider
Hi Safive,

I wouldn't go long yet. You're right about that resistance

...You want something to happen above the resistance line first before entering.

I'll edit this post and add a chart for you in a few minutes...

Edit: Chart added. ...Also the BUOB you mention is a possible early warning sign of an impending break. Good spotting. Personally, I like to see a close that's closer to it's high in this case, but it don't matter when you aren't trading till after a break anyway. More experienced traders might enter a limit buy to trigger at the top yellow line AFTER we have a decent break of 100 or more pips above it. Riskier though. You'd want the breaking bar to CLOSE way above the top line first before placing that order IMO. ...A nice tidy pullback pattern with space underneath it is handy.
Hello friend,
This char would really help me out to follow the trend and put my trades

Thanks
  • #14,652
  • Oct 23, 2008 8:05am Oct 23, 2008 8:05am
Quoting bundyraider
Thou thinkest 1.6322 should be kept in mind.

I'm going to watch the daily and 4 hour charts at this time.

Keen to see a close above 1.6322 first. (March 31 High)

Thanks my friend. I see the movement clearer now. We wait and see the actions.
  • #14,653
  • Oct 23, 2008 9:46am Oct 23, 2008 9:46am
Quoting mbqb11
waiting...watching
It may well be today. If gold finishes today like this, I see no reason not to long it.
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  • #14,654
  • Oct 23, 2008 9:55am Oct 23, 2008 9:55am
Quoting HipsterPipster
It may well be today. If gold finishes today like this, I see no reason not to long it.
yes and what I really liked was that hard rally we just had after the initial shorts. Something is cooking out there, and it isn't my breakfast
  • #14,655
  • Oct 23, 2008 9:58am Oct 23, 2008 9:58am
Quoting mbqb11
yes and what I really liked was that hard rally we just had after the initial shorts. Something is cooking out there, and it isn't my breakfast
Yeah, plenty of space to at least get it back up to the 775 without too much trouble.
  • #14,656
  • Oct 23, 2008 9:59am Oct 23, 2008 9:59am
Quoting Safive
Thanks my friend. I see the movement clearer now. We wait and see the actions.

Just another way, I am in this I played it as a breakout + pullback on the 4hr
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  • #14,657
  • Oct 23, 2008 9:59am Oct 23, 2008 9:59am
Quoting HipsterPipster
Yeah, plenty of space to at least get it back up to the 775 without too much trouble.
you mean 1000 is being to optimistic
  • #14,658
  • Oct 23, 2008 10:07am Oct 23, 2008 10:07am
I see a nice pin on eur/cad 1hr.
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  • #14,659
  • Oct 23, 2008 10:08am Oct 23, 2008 10:08am
Quoting mbqb11
you mean 1000 is being to optimistic
You know I want it goldilocks!
  • #14,660
  • Oct 23, 2008 1:31pm Oct 23, 2008 1:31pm
Quoting mbqb11
yes and what I really liked was that hard rally we just had after the initial shorts. Something is cooking out there, and it isn't my breakfast
Hiya Mike and all, do you guys use a mt4 broker to trade gold or just trade the futures contract?

Are you guys watching this bounce on USD/CAD? The one hour / 4hour and now daily are now all turning down.

Best Wishes,
Jason
May the fish in your stream of life always bite.
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