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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

  • #15,881
  • Nov 28, 2008 9:22am Nov 28, 2008 9:22am
If market forces cooperate today, we could see a test of 5200 area later in a day and ultimately 5100. Let's see.
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  • #15,882
  • Nov 28, 2008 9:23am Nov 28, 2008 9:23am
Quoting sonicdeejay
PPZ means??

Sonic
It's an area where price has formed historical Support and Resistance flips.
  • #15,883
  • Nov 28, 2008 9:27am Nov 28, 2008 9:27am
Not much going on today, but I did just get up.
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Keep taking CT trades, I need more money
  • #15,884
  • Nov 28, 2008 9:28am Nov 28, 2008 9:28am
Watch DJ futures today. When they hit 8880/8920, I'll be looking to buy yen
(short crosses). It worked 8 times out of 10 this month.
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  • #15,885
  • Nov 28, 2008 9:28am Nov 28, 2008 9:28am
Quoting PeterFM
It's an area where price has formed historical Support and Resistance flips.
thx man...
I am waiting for jarro comment abt my entry too..

Sonic
  • #15,886
  • Nov 28, 2008 9:32am Nov 28, 2008 9:32am
Quoting raczekfx
If market forces cooperate today, we could see a test of 5200 area later in a day and ultimately 5100. Let's see.
.
Hey Rac,

Should'nt 1.525 be a worry?? Plus any downmove may also be qualified for a pullback to the trendline just broken (I am talking abt the daily) the Mike thingy if so then we might have all the gredients for the dish called "breakout plus pullback plus PA"...Mike's a great cook...
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I believe . . .
  • #15,887
  • Nov 28, 2008 9:32am Nov 28, 2008 9:32am
Quoting raczekfx
I also played short cable this morning after price retested break out area with 61fib confl.
I bet RustyJeff played that pb ? It formed in a perfect location..

Very nice Mark,
I only took the euro though as thats my prefered. I had been waiting for a while for this break lower. now waiting for another break or bounce & retest..

Still recovering from yesterdays overeating..
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  • #15,888
  • Nov 28, 2008 9:33am Nov 28, 2008 9:33am
Watch how the weekly gold bar closes today. It might gives us some tips where $$ is headed next week. Price was rejected right at 61fib and price pivot confluence.

.
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  • #15,889
  • Nov 28, 2008 9:38am Nov 28, 2008 9:38am
Quoting rustyjeff
Very nice Mark,
I only took the euro though as thats my prefered. I had been waiting for a while for this break lower. now waiting for another break or bounce & retest..

Still recovering from yesterdays overeating..
I closed fiber too early but caught up with with cable..
it's funny when I sold cable at 5376 this morning, I started moving down tfs and when I saw that 5min pb forming, I was happy....
Get some rest my friend. I'm almost done for the week, but want to see what dow and gold are going to do..
good trading to all.
  • #15,890
  • Nov 28, 2008 9:44am Nov 28, 2008 9:44am
Quoting ghous
Hey Rac,

Should'nt 1.525 be a worry?? Plus any downmove may also be qualified for a pullback to the trendline just broken (I am talking abt the daily) the Mike thingy if so then we might have all the gredients for the dish called "breakout plus pullback plus PA"...Mike's a great cook...
I don't know ghous if we get there, I'm looking for a break out higher to about 1.58 next week (just like I was looking for fiber to hit 1.30 in my post #15640 last week ). Just watch the BIG foot prints.
  • #15,891
  • Nov 28, 2008 9:51am Nov 28, 2008 9:51am
+2% so far, prob going to call it a day. As I said BB = Flat nice PB on 3min, rsi divergence on both 3min and 5min = take the trade.
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Keep taking CT trades, I need more money
  • #15,892
  • Nov 28, 2008 10:07am Nov 28, 2008 10:07am
How do I get a chart on Gold like this in my Mt4? I have a forex account at IBFX...Can i get a demo on commodities or something....How do I get a chart of something besides currencies?
  • #15,893
  • Nov 28, 2008 11:04am Nov 28, 2008 11:04am
Quoting JimDandy
How do I get a chart on Gold like this in my Mt4? I have a forex account at IBFX...Can i get a demo on commodities or something....How do I get a chart of something besides currencies?
check out FXpro platform, has a lot of stuff on it


-Mike
  • #15,894
  • Nov 28, 2008 11:31am Nov 28, 2008 11:31am
What would be your take on this 1 hour pin?Looks as if we may get a 4 hour PB out of it in time.Would you trade this jarro?Or would you pass on something like this?
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  • #15,895
  • Nov 28, 2008 11:46am Nov 28, 2008 11:46am
Quoting jlmac27
What would be your take on this 1 hour pin?Looks as if we may get a 4 hour PB out of it in time.Would you trade this jarro?Or would you pass on something like this?
I would wait until the 4 hour close but this being late on Friday I would pass until next week.
Indicators show the past. Price Action "Indicates" the future.
  • #15,896
  • Nov 28, 2008 11:57am Nov 28, 2008 11:57am
Quoting jarroo
I would wait until the 4 hour close but this being late on Friday I would pass until next week.
Yeah that would be a good idea, i am wondering what to do abt my Eu u/chf trades do i hold them over the weekend??
I believe . . .
  • #15,897
  • Nov 28, 2008 12:08pm Nov 28, 2008 12:08pm
Quoting ghous
Yeah that would be a good idea, i am wondering what to do abt my Eu u/chf trades do i hold them over the weekend??
I think the answer lies somewhere in the depths of my thinking when taking the trades. I wanted to hold them for quite some time, but now as we approach Friday close given the fact that i didn't have a great week in terms of profitable trades i think i need to play the "hit and run" game, can't hang around much when i am already down for the week,

I guess I'll just close the two trades for a net gain of 225 pips, yeah a pretty fair decision i guess.

Plan to trade better next week!

Have a great weekend guys!

Regards,
Ghous.
I believe . . .
  • #15,898
  • Nov 28, 2008 12:50pm Nov 28, 2008 12:50pm
Quoting jarroo
I would wait until the 4 hour close but this being late on Friday I would pass until next week.

Thanks for the reply Jarro,All in all a decent PB if closes correctly,I see resistance up around the 1.2800,I will see where it is at monday.Have a great weekend!
  • #15,899
  • Nov 28, 2008 3:14pm Nov 28, 2008 3:14pm
How about Usd/Cad? Not my favorite pair or an ideal pin but i do like the location.
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  • #15,900
  • Nov 28, 2008 5:50pm Nov 28, 2008 5:50pm
Quoting Ryanmcd
+2% so far, prob going to call it a day. As I said BB = Flat nice PB on 3min, rsi divergence on both 3min and 5min = take the trade.
Thanks Ryan for sharing your setups. I always look forward to your posts.
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