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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

  • #16,601
  • Dec 10, 2008 4:37am Dec 10, 2008 4:37am
1hrR-db trade on EURUSD....going nicely...1st T/P zone hit

http://img122.imageshack.us/img122/7...epgoingqu7.gif
http://img122.imageshack.us/img122/k...gif/1/w800.png
  • #16,602
  • Dec 10, 2008 4:38am Dec 10, 2008 4:38am
Quoting Vourvoul
I wouldn't consider taking the GU PB myself as it is in traffic and not at a swing high, BUT, there's another 4H PB forming at EURUSD which adds to the validity of the short.

Have to wait till the 4H close though...

EDIT: Not a PB anymore at EUR but maybe a BEOB
Hello VourVOUL
The EU 4H closed as a Valid PB bouncing off (double top) in my feed (FXpro) and broke out! to the south

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #16,603
  • Dec 10, 2008 4:38am Dec 10, 2008 4:38am
Quoting Vourvoul
I wouldn't consider taking the GU PB myself as it is in traffic and not at a swing high, BUT, there's another 4H PB forming at EURUSD which adds to the validity of the short.

Have to wait till the 4H close though...

EDIT: Not a PB anymore at EUR but maybe a BEOB
...
  • #16,604
  • Dec 10, 2008 4:39am Dec 10, 2008 4:39am
Quoting jarroo
Sorry. Here's a better chart of 4 PA (PB) off the Daily PPZ.
The key here has to be taking some profit just before 1.47 atleast. I have this very plan in mind, will see how it goes...
I believe . . .
  • #16,605
  • Dec 10, 2008 4:40am Dec 10, 2008 4:40am
Quoting Almfx
Hello VourVOUL
The EU 4H closed as a Valid PB in my feed (FXpro) and broke out! to the south

ALM
Still 20 mins on my chart... but it looks like it's forming a BEOB
  • #16,606
  • Dec 10, 2008 4:41am Dec 10, 2008 4:41am
Quoting Vourvoul
...
LOL! let's take it a little easy, we've all been making these mistakes have'nt we??
I believe . . .
  • #16,607
  • Dec 10, 2008 4:41am Dec 10, 2008 4:41am
Quoting Vourvoul
Still 20 mins on my chart... but it looks like it's forming a BEOB
That's my point. Why try to predict the PA formation. Just wait until it actually closes.
Indicators show the past. Price Action "Indicates" the future.
  • #16,608
  • Dec 10, 2008 4:44am Dec 10, 2008 4:44am
Quoting ghous
The key here has to be taking some profit just before 1.47 atleast. I have this very plan in mind, will see how it goes...
Hey Ghous! Iam having 1.4685ish as TP in my mind. Thnx

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #16,609
  • Dec 10, 2008 4:45am Dec 10, 2008 4:45am
Quoting Vourvoul
Still 20 mins on my chart... but it looks like it's forming a BEOB
Mine already closed, qualifies as a BEOB by only 2 pips
I believe . . .
  • #16,610
  • Dec 10, 2008 4:48am Dec 10, 2008 4:48am
Quoting tehuringa
Possible 1hr R-db trade on the EURUSD..... not really confident enough with these setups to have a crack on my live account but might have a go at it on my demo.....not much room to move though but could be good for around 1.2917-ish

I think you played that nicely. Razcek would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #16,611
  • Dec 10, 2008 4:50am Dec 10, 2008 4:50am
Quoting jarroo
I think you played that nicely. Razcek would be proud.
Cheers Jarroo ..... he's a good teacher
  • #16,612
  • Dec 10, 2008 4:51am Dec 10, 2008 4:51am
Quoting ghous
LOL! let's take it a little easy, we've all been making these mistakes have'nt we??
LOL, of course. I was just kidding...
  • #16,613
  • Dec 10, 2008 4:51am Dec 10, 2008 4:51am
Quoting Almfx
Hey Ghous! I having 1.4685ish as TP in my mind. Thnx

ALM
Moving it 15 pips up won't be a bad idea, since round numbers tend to be phschological supp/res areas (1.47 already is) the first p around this level is logical...

I also have a confluence of the 23.6 fib around this region...
Attached Image (click to enlarge)
Click to Enlarge Name: gu 4h.gif Size: 12 KB
I believe . . .
  • #16,614
  • Dec 10, 2008 4:54am Dec 10, 2008 4:54am
Quoting ghous
Moving it 15 pips up won't be a bad idea, since round numbers tend to be phschological supp/res areas (1.47 already is) the first p around this level is logical...

I also have a confluence of the 23.6 fib around this region...
You are right! Thanks
But Iam getting confused with direction of the Fib. you draw.

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #16,615
  • Dec 10, 2008 4:55am Dec 10, 2008 4:55am
Quoting ghous
Mine already closed, qualifies as a BEOB by only 2 pips
Still 5 mins to go...

EDIT: Closed... does not qualify as BEOB!
  • #16,616
  • Dec 10, 2008 5:08am Dec 10, 2008 5:08am
Quoting Vourvoul
Still 5 mins to go...

EDIT: Closed... does not qualify as BEOB!
Then it's a pin bar
I believe . . .
  • #16,617
  • Dec 10, 2008 5:21am Dec 10, 2008 5:21am
Quoting Vourvoul
Still 5 mins to go...

EDIT: Closed... does not qualify as BEOB!
///
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #16,618
  • Dec 10, 2008 5:28am Dec 10, 2008 5:28am
When in doubt...well you know what to do
  • #16,619
  • Dec 10, 2008 5:36am Dec 10, 2008 5:36am
Quoting jarroo
///
I'd prefer the close of the BEOB to be below the low of the previous bar...

EDIT: Hmmmm, it was by one pip...
  • #16,620
  • Dec 10, 2008 5:52am Dec 10, 2008 5:52am
dear sir,

ej pb look like nice set up .... on 1hr chat
pls advise sir...

brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: ej pb.JPG Size: 168 KB
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