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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

  • #14,681
  • Oct 24, 2008 4:27am Oct 24, 2008 4:27am
Quoting bundyraider
Excellent post dude.

Thanks for spending the time setting this up S.
I hope others here study it.
Yea, no prob. I was lucky enough to be there for all of the crucial junctions so I was able to snapshot them. I have to say EJ / GJ progressed a LOT swifter though, but AUDUSD in the end did what it was supposed to.

I just think it was THE prime example for all of those super-negative attitude people that love to troll the nothing works/can be foretold principle. IMHO the market only has so many moves, and it simply repeats them ad nauseam, else there'd be nobody capable of getting anything out of it.
Heck, the simple fact that it "needs to move" imho is enough for a trading principle, and people have made several ones out of that alone, too.

So, maybe a good idea to keep a link to that progression handy for whenever the next troll flame war pops up
Hehe.
Trust price. Know yourself.
  • #14,682
  • Oct 24, 2008 4:34am Oct 24, 2008 4:34am
Quoting bundyraider
Mate....

These charts are moving through just about ALL important levels like nothing.

I'm still blown away by the average daily ranges we are getting too.
Tell me about it. What's so evil is that the "lower" the value of USDJPY goes, the bigger the "lever" of it is against the carry crosses, you know?
Math and all that, multiplier. The lower in absolute the number, the bigger the change in % per incremental decrease and all that.
Could make for some rather terrifying outcome this year and next, as I really don't see why we shouldn't take out 80.00.

And if anyone asks why - Elliott Wave. Another thing everyone keeps trolling against being hindsight only and never working.

Ach heck, I'll post my hobby charts on USDCHF/USDX. As excuse for PA - there was an IB at s/r / fib at the end of 4 and a USDX 4h PB there on the 365 EMA when the likely 4th wave terminated.


The count doesn't have to be right - just the trades.

USDX / USDCHF count and updates(sorry for the first USDCHF being in german, it's the same as always in english - strong / normal C and so forth):
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Trust price. Know yourself.
  • #14,683
  • Oct 24, 2008 4:36am Oct 24, 2008 4:36am
Good god, GBPUSD lost 300 pips by the time I posted that.
GBPCHF working on a 1000+ pips 4h bar.
Trust price. Know yourself.
  • #14,684
  • Oct 24, 2008 4:41am Oct 24, 2008 4:41am
Quoting SeekingLight
So, maybe a good idea to keep a link to that progression handy for whenever the next troll flame war pops up
Hehe.
I will do. lol

Tough , I think Twee and co get on top of the trolling pretty quick. Which is good. It's been good recently

Aud/Usd.... Besides being a little patriotic about it , naturally , truly I believe we have one of the strongest collections of fundamental reasons to be worth more.
I think the fact that the currency has stubbornly held up of late re-inforces that idea compared to many others it seems. (...change of goverment and policies recently might decrease the strength maybe)

...I endeavor to trade what I see though, of course. lol
.
Bundy's status today: "Waiting..."
  • #14,685
  • Oct 24, 2008 4:46am Oct 24, 2008 4:46am
Quoting Safive
Thanks Bundyraider, patience is the game

This pair is still on the to do list. lol

I'm waiting for it to hit the weekly trend line I've drawn here in yellow.

The current daily pin bar gives a strong case for not going long until we get a decent signal. (off of this line possibly).

That March high (not seen on line chart) really needs to be taken out. If I get a position on, this will be a good first take profit level it seems.

Edit: Here I am looking for a long from the break. We might end going short later instead. lol

.
Attached Images
Bundy's status today: "Waiting..."
  • #14,686
  • Oct 24, 2008 5:28am Oct 24, 2008 5:28am
"Trading in futures on the Standard & Poor's 500 Index and the Dow Jones Industrial Average was limited to stop contracts from dropping, following declines of more than 6 percent."

In case anyone is wondering why the futures aren't dropping anymore to keep up with the live indices. I was looking at them for the past hour going "Huh?".

I just saw this now.

Private ramble:
As if that helps. The tradeable value will STILL move on, it's just not visible..
I think some folks no longer have any grasp on the "free market" anymore, and ironically by imposing overregulation frenzy action now, are only exacerbating things even further. That, and ruining lives, markets and countries, but hey, details, right?

So much for the "Greed is good" principle.
Trust price. Know yourself.
  • #14,687
  • Oct 24, 2008 5:33am Oct 24, 2008 5:33am
Quoting SeekingLight
\"Trading in futures on the Standard & Poor's 500 Index and the Dow Jones Industrial Average was limited to stop contracts from dropping, following declines of more than 6 percent.\"

In case anyone is wondering why the futures aren't dropping anymore to keep up with the live indices. I was looking at them for the past hour going \"Huh?\".

I just saw this now.

Private ramble:
As if that helps. The tradeable value will STILL move on, it's just not visible..
I think some folks no longer have any grasp on the \"free market\" anymore, and ironically by imposing overregulation frenzy action now, are only exacerbating things even further. That, and ruining lives, markets and countries, but hey, details, right?

So much for the \"Greed is good\" principle.
We've got a whole bunch of communistic tools running countries at the moment too.
Look at Sarkozy. He's just opened his trap again too.

You are ABSOLUTELY right. They are making catastrophic decisions here. Idiots. Our government's been making negative comments all year and really don't seem to know what the heck they are doing.

I'm staying out of all markets for a while. I value my hard earned.
Bundy's status today: "Waiting..."
  • #14,688
  • Oct 24, 2008 5:34am Oct 24, 2008 5:34am
Thank you seeking for the excellent charts. That,s more than just a little impressive imho. When you posted the ib on the trend line I thought...HEY! that's Bundy's play right there lol I have just been shell shocked watching these bars play out tonight. One viscous sell off after another. I'm scared as hell were going to break the 2003 index lows in the S&P. I had read before that their is no such thing as support in a runaway market........seeing is believing.

Best Wishes,
Jason
May the fish in your stream of life always bite.
  • #14,689
  • Oct 24, 2008 5:58am Oct 24, 2008 5:58am
Quoting SeekingLight
And if anyone asks why - Elliott Wave. Another thing everyone keeps trolling against being hindsight only and never working.
Good to see someone working with EW here.

...Now we can argue about counts. lol
Bundy's status today: "Waiting..."
  • #14,690
  • Oct 24, 2008 6:00am Oct 24, 2008 6:00am
Quoting bundyraider
We've got a whole bunch of communistic tools running countries at the moment too.
Look at Sarkozy. He's just opened his trap again too.

You are ABSOLUTELY right. They are making catastrophic decisions here. Idiots. Our government's been making negative comments all year and really don't seem to know what the heck they are doing.

I'm staying out of all markets for a while. I value my hard earned.
...We'll see. ...lol

I keep seeing points of interest and not getting what I want.

B__tard sharks!
Bundy's status today: "Waiting..."
  • #14,691
  • Oct 24, 2008 6:06am Oct 24, 2008 6:06am
How could you ignore a pin like that!

Just need a decent break above it now.

230 pip Hourly bar. ...wow
Attached Image
Bundy's status today: "Waiting..."
  • #14,692
  • Oct 24, 2008 6:08am Oct 24, 2008 6:08am
Is USD CAD another one of those rare daily pin failures? On my chart it looks like it barely broke and then went the other way for failure.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #14,693
  • Oct 24, 2008 6:10am Oct 24, 2008 6:10am
Just realised...
...The Bundy journal.

...Proudly brought to you by Coke-A-Cola ....and Jamesons Irish Whisky.
Bundy's status today: "Waiting..."
  • #14,694
  • Oct 24, 2008 6:14am Oct 24, 2008 6:14am
Quoting Thexder
Is USD CAD another one of those rare daily pin failures? On my chart it looks like it barely broke and then went the other way for failure.
Hi Thexder,

Watch out for short pins (compared to the bars that precede them).

Also this market is nuts at the moment.

The post I put out just before yours shows the type of pins you should learn to love. ...especially when they're off of good confluence.
Bundy's status today: "Waiting..."
  • #14,695
  • Oct 24, 2008 6:56am Oct 24, 2008 6:56am
Quoting bundyraider
This pair is still on the to do list. lol

I'm waiting for it to hit the weekly trend line I've drawn here in yellow.

The current daily pin bar gives a strong case for not going long until we get a decent signal. (off of this line possibly).

That March high (not seen on line chart) really needs to be taken out. If I get a position on, this will be a good first take profit level it seems.

Edit: Here I am looking for a long from the break. We might end going short later instead. lol

.
Well taken. I took a short early hours of today at the retracement of the pin bar. Got out at 130 pips. Looks like it might go down the more
  • #14,696
  • Oct 24, 2008 7:01am Oct 24, 2008 7:01am
Quoting Safive
Well taken. I took a short early hours of today at the retracement of the pin bar. Got out at 130 pips. Looks like it might go down the more
Not in yet. It's gotta deal with the break area yet.
Bundy's status today: "Waiting..."
  • #14,697
  • Oct 24, 2008 7:40am Oct 24, 2008 7:40am
Hi,

Hope someone took this pinbar last night, I was watching it form but forgot to look at the chart later after the bar closed.

Francisco
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  • #14,698
  • Edited 8:28am Oct 24, 2008 8:24am | Edited 8:28am
Quoting bundyraider
Not in yet. It's gotta deal with the break area yet.

There is a bullish pin bar on eurcad on H4 fxopen data feed but I am cautios. still watching. LOOk also at the bearish pin bear on eurgbp H4, see also GJ and EJ H4
  • #14,699
  • Oct 24, 2008 8:32am Oct 24, 2008 8:32am
Quoting SeekingLight
.

Breakouts / TL combos, with textbook outcomes each time. This is a great example(despite it having a ton of delay and struggle on the way) of how these corrective moves sometimes progress, so I'm posting it:

(None of these are edited and were posted to my journal \"along the way\")


great stuff Seeking,
this is a good eample of reading charts & waiting for the trade to come to you rather than chasing them.
I know many here will benifit from your charts. Maybe even the trolls.
  • #14,700
  • Oct 24, 2008 9:05am Oct 24, 2008 9:05am
Quoting Safive
There is a bullish pin bar on eurcad on H4 fxopen data feed but I am cautios. still watching. LOOk also at the bearish pin bear on eurgbp H4, see also GJ and EJ H4
Took part profit at 1.6270. (Just below daily R1. Closest target to Daily Pin's high)

....Finally.... I can go to bed. This... quickly became... ...lol
Bundy's status today: "Waiting..."
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