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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

  • #2,821
  • Feb 28, 2007 6:32pm Feb 28, 2007 6:32pm
New month time to evaluate some longer term stuff.

Gbpy/jpy last time we reached here it was major sell off time. IB formed right at this resistance.
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  • #2,822
  • Feb 28, 2007 7:20pm Feb 28, 2007 7:20pm
Quoting mbqb11
New month time to evaluate some longer term stuff.

Gbpy/jpy last time we reached here it was major sell off time. IB formed right at this resistance.
At what point would you consider trading this!
And what kind of stop losses would you expect to put in place

Thanks
It's All About Attitude ...
  • #2,823
  • Feb 28, 2007 7:24pm Feb 28, 2007 7:24pm
Quoting billser
At what point would you consider trading this!
And what kind of stop losses would you expect to put in place

Thanks
You can simply play a break of the IB(high or low) and stop goes on the other side of the IB. Position size adjusted accordingly of course


Best,
Mike
  • #2,824
  • Mar 1, 2007 3:01am Mar 1, 2007 3:01am
I see you're planning to retire on monthlies already Mike ;D

Seems most pairs tell the same story.
EURUSD and USDCHF look almost the same anyway, just looks like EURUSD might have a LITTLE bit more wiggle room to the upside. Although I doubt the ECB would like a 1.4+ Euro.
So not sure, we either will get a very hot March/April again or...who knows

Can someone push cable a bit so this whole daily PB isn't in vain...what torture this waiting is, where are the fast hard pips? Booooring
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Trust price. Know yourself.
  • #2,825
  • Edited 6:46am Mar 1, 2007 3:58am | Edited 6:46am
Since I missed the daily formation that caused the last 350 pip drop, maybe this one I can take something on.

2x Monthly bars => bearish PB, smack dab on the .618.
Who's got the money, patience and nerves to play this folks?
Anyone?


Edit: Just wanted to add this, since it's mindboggling...

"Watanabe says yen carry trade size maybe JPY10-20 trillion, but no statistics available. Adds FX moves this week not unwinding of yen carry as true unwinding will be bigger"
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Trust price. Know yourself.
  • #2,826
  • Mar 1, 2007 4:12am Mar 1, 2007 4:12am
Quoting SeekingLight
Since I missed the daily formation that caused the last 350 pip drop, maybe this one I can take something on.

2x Monthly bars => bearish PB, smack dab on the .618.
Who's got the money, patience and nerves to play this folks?
Anyone?


here is going to be a fun one also!
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  • #2,827
  • Mar 1, 2007 9:03am Mar 1, 2007 9:03am
possible pin forming here, but no previous Resistance up here
to form pivots
  • #2,828
  • Mar 1, 2007 11:57am Mar 1, 2007 11:57am
Possible BEOB or even DBHLC on EUR/USD?
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  • #2,829
  • Edited 11:00pm Mar 1, 2007 12:34pm | Edited 11:00pm
Quoting mbqb11
New month time to evaluate some longer term stuff.

Gbpy/jpy last time we reached here it was major sell off time. IB formed right at this resistance.
PA went past the IB. Did you take the trade Mike.
It's All About Attitude ...
  • #2,830
  • Edited 1:10pm Mar 1, 2007 12:59pm | Edited 1:10pm
Yep lemme post a chart of how I got in earlier for a bigger move.
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  • #2,831
  • Edited 11:00pm Mar 1, 2007 4:28pm | Edited 11:00pm
Quoting mbqb11
Yep lemme post a chart of how I got in earlier for a bigger move.
Nice going Mike,

Please teach me more Grass Hopper.......

I Know ....I Know....Join the PF side...lol
It's All About Attitude ...
  • #2,832
  • Mar 1, 2007 4:34pm Mar 1, 2007 4:34pm
Billser,

If you do decide to join, you will never look back.



Take care,
RSQ955
  • #2,833
  • Mar 1, 2007 5:23pm Mar 1, 2007 5:23pm
Quoting billser
Nice going Mike,

Please teach me more Grass Hopper.......

I Know ....I Know....Joint the PF side...lol

lol ya it's true though, everything i know comes from what i learned in the PF.

Btw, people often have different broker feeds and ask which is better, the truth is none is better then the other. A chart through a broker is just a "Box" through which we view the markets. I use Interbank charts but if you were on sbfx feed the same 2 bar pin, show up as one perfect 4 hr pin . Always remember charts are just a way to view where price has been.

here is the sbfx chart of that same trade.

Take care,
Mike
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  • #2,834
  • Mar 1, 2007 9:14pm Mar 1, 2007 9:14pm
Quoting rsq955
Billser,

If you do decide to join, you will never look back.



Take care,
RSQ955
He's right!
  • #2,835
  • Mar 1, 2007 9:30pm Mar 1, 2007 9:30pm
On the 1 Day, price pokes the 365 MA at the trendline....hmmmmm. The 4 hour with a pin at the trendline....double hmmmmm.
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #2,836
  • Mar 2, 2007 12:03am Mar 2, 2007 12:03am
I am ready for the weekend :-)

As long as EUR does not close above 1.3189 by the end of the day, we will have a perfect PIN on the weekly coming off 76.4 fibo.

Funny, I though ECB is going to increase on the rate.

Ken
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  • #2,837
  • Mar 2, 2007 12:22am Mar 2, 2007 12:22am
Quoting goodtiding5
I am ready for the weekend :-)

As long as EUR does not close above 1.3189 by the end of the day, we will have a perfect PIN on the weekly coming off 76.4 fibo.

Funny, I though ECB is going to increase on the rate.

Ken

hey now . lets not waste our time talking funnymentalsif you are into that
go to www.tradeforexfunniesandnewsandwastedjunk.com

hehee just kidding.

yeah I love the wkkly pin daily starting to look weak
  • #2,838
  • Mar 2, 2007 3:30am Mar 2, 2007 3:30am
Since people always wonder about where to enter for retrace entries, here are THREE ways:
-38.2% retrace after the last low is made.
-revisit of broken trendline
-general s/r pivot / area

Then just set stop above the BEOB and pray for the best
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Trust price. Know yourself.
  • #2,839
  • Mar 2, 2007 5:49am Mar 2, 2007 5:49am
Good god. Gj 940 pips from the doji. These are some target projections...

I hope SOMEONE is getting very rich from this, lord knows I missed it :/
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Trust price. Know yourself.
  • #2,840
  • Mar 2, 2007 9:30am Mar 2, 2007 9:30am
how high can we expect this to retrace up . I would like to sell the
@#@(*! out of it.

lets put it this way , I am going to for sure sell the next pin bar we get on it
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