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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

  • #17,361
  • Dec 21, 2008 11:05pm Dec 21, 2008 11:05pm
Eur/Chf - BEOB - Weekly.
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Indicators show the past. Price Action "Indicates" the future.
  • #17,362
  • Dec 21, 2008 11:19pm Dec 21, 2008 11:19pm
Quoting mirex
ahh, i see it, thanks , i took your suggestion last friday to TP at 1.112, but didnt see your 1.09ish, jumped the gun at 1.100

with the low liquidity, you think it's going to break 1.112? or would have to wait for PA at london time to see?

where do you think this is heading? 61.8 or 50 fibo?
We might and we might not, forget the low volatility, it might not even when the markets in it's most perfect form, when you trade expect the unexpected

However yeah my anticpation would be that sometime this week we should see the break of 1.12, and it would ne nice if we can see this beast go up to 1.16 which is also just around the 61.8 fib.

this is what i am anticipating and would like the market to do, however it has no restrictions whatsoever to do something else, specially with the low valotility.

The key area that I identified was the 1.12, some profit has to be booked here, and then perhaps around the 50% fib (near 1.14) and then finally the 1.16. If i was in this trade though i would be more then ready to even see the opposite of this

The biggest emotional setback of a loosing trade is often when you were least expecting the trade to loose.

Regards,
Ghous.
Attached Image (click to enlarge)
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I believe . . .
  • #17,363
  • Dec 21, 2008 11:22pm Dec 21, 2008 11:22pm
Eur/Chf looks like a promising trade
Patience + Humility + Study = Success
  • #17,364
  • Dec 21, 2008 11:27pm Dec 21, 2008 11:27pm
Quoting jarroo
Eur/Chf - BEOB - Weekly.
A break of 1.53 has to be important here right Jarroo? It's good that the low of the BEOB touches this level so anybody sensible and aware of these crazy market conditions will play it's break which has to be below 1.53.

ps on my chart i also have 2 fibs, the 50 and 38.2 just around 1.53...hmmm...
I believe . . .
  • #17,365
  • Dec 21, 2008 11:42pm Dec 21, 2008 11:42pm
USD/CAD Pin Bar @ 50 fibo? The down move was after the triple top (not shown). Would this pin be a retrace of the down move before going short again?
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,366
  • Dec 21, 2008 11:58pm Dec 21, 2008 11:58pm
Quoting ghous
A break of 1.53 has to be important here right Jarroo? It's good that the low of the BEOB touches this level so anybody sensible and aware of these crazy market conditions will play it's break which has to be below 1.53.

ps on my chart i also have 2 fibs, the 50 and 38.2 just around 1.53...hmmm...
Yes that's right ghous. I wouldn't be surprise if the 1.53 acts as resistence once and if it breaks.
Indicators show the past. Price Action "Indicates" the future.
  • #17,367
  • Dec 21, 2008 11:58pm Dec 21, 2008 11:58pm
Quoting biatche
Hi everyone. I'm fairly new in forex or investments for that matter, and I've been trying to 'catch up' to this thread. I'm not able to understand so many terms people use here.. like PPZ and actually there's a few more. I've understood some of them so far. I assume most here play on a higher TF like daily? I see many here seem in favor of PA over indicators but how exactly do I learn PA? There anything I should do/learn to be on the same level as everyone here? I've been reading/(memorizing) candlesticker.com but that don't seem to work all the...
How new? Have you gone through babypips school a couple of times?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,368
  • Dec 22, 2008 12:00am Dec 22, 2008 12:00am
Quoting jarroo
Yes that's right ghous. I wouldn't be surprise if the 1.53 acts as resistence once and if it breaks.
How do you play the BEOB? A break of the low + 10 pips like a pin?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,369
  • Dec 22, 2008 12:03am Dec 22, 2008 12:03am
Quoting LasVahGoose
USD/CAD Pin Bar @ 50 fibo? The down move was after the triple top (not shown). Would this pin be a retrace of the down move before going short again?
Technically that's not a PB LVG. The Open and Close are not within the previos bar. Should be fun to watch anyway.
Indicators show the past. Price Action "Indicates" the future.
  • #17,370
  • Dec 22, 2008 12:09am Dec 22, 2008 12:09am
Quoting LasVahGoose
How do you play the BEOB? A break of the low + 10 pips like a pin?
The Weekly is obviously a lot bigger time frame and 10 pip break would be to small imo. I would look to Daily to see if any Bearish PA would gives us a hint where Price may be heading.
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Indicators show the past. Price Action "Indicates" the future.
  • #17,371
  • Dec 22, 2008 12:09am Dec 22, 2008 12:09am
Quoting jarroo
Technically that's not a PB LVG. The Open and Close are not within the previous bar. Should be fun to watch anyway.
You are correct SIR! YES! Wasn't paying attention... Close enough for government work though...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,372
  • Dec 22, 2008 1:07am Dec 22, 2008 1:07am
Quoting Jigsaw
Why thankyou kind sir, some of my best work (in all seriousness im a major fan)

Yeah to be frank I will be looking to short the GBP all week before Christmas and I begin my yearly routine of attending family parties and abusing chocolate.

[b]Pb on GU you say ? I am unaware,...
LOL! I am talking abt the Pin bar on Gu, here it is...
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I believe . . .
  • #17,373
  • Dec 22, 2008 1:17am Dec 22, 2008 1:17am
Quoting LasVahGoose
How new? Have you gone through babypips school a couple of times?
Just got into this a month ago. Did live trading, im pretty breakeven on my own. Imitated trades from some uh.. 'pros with years of experience' and lost some 400 pips there lol. Never again. Never again. I went through babypips not a couple of times, but once. Went through stockcharts.com as well. I'll take everyone's advice and read all posts... if I'm ever disciplined enough to do so. That's some 1000 posts. It's definitely going to take a long while. Should I have some prerequisite readings before I get into this thread?

Everyone here is very nice and helpful. I like it here
  • #17,374
  • Dec 22, 2008 1:25am Dec 22, 2008 1:25am
Quoting biatche
Just got into this a month ago. Did live trading, im pretty breakeven on my own. Imitated trades from some uh.. 'pros with years of experience' and lost some 400 pips there lol. Never again. Never again. I went through babypips not a couple of times, but once. Went through stockcharts.com as well. I'll take everyone's advice and read all posts... if I'm ever disciplined enough to do so. That's some 1000 posts. It's definitely going to take a long while. Should I have some prerequisite readings before I get into this thread?

Everyone here is very...
you would'nt need anything else than babypips perhaps, so you meet all the prerequisites.

just go through thee first few pages as these are the heart of this thread. next i'll recommend a demo account for you to practice all these things either integrated in your own system or treated as a system itself. then read along the thread while you practice, this is what i did and saved myself a lot of time.

Glad you liked it here, for ppl seriously willing to succeed in trading this place is always a warm and cozy hideout.

Regards,
Ghous.
I believe . . .
  • #17,375
  • Dec 22, 2008 2:15am Dec 22, 2008 2:15am
Here is a nice example of a fine tuned entry,

The Ib on the daily is what gives the trade direction, and before Friday close is the trigger Ib on the 4H.

Under normal market conditions I would have liked to take my first profit around 1.160 but here i took half off at the first hints of support this time (being extremely conservative), which is around 1.633, at roughly 80 pips.

Whatever that can be made in times like these wether it's 8 or 80 or 800 pips, it's more a pot of gold than anything else

Regards,
Ghous.
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Click to Enlarge Name: gc 4h.gif Size: 8 KB
I believe . . .
  • #17,376
  • Dec 22, 2008 2:59am Dec 22, 2008 2:59am
Quoting ghous
LOL! I am talking abt the Pin bar on Gu, here it is...
Looks like you were spot on.
Patience + Humility + Study = Success
  • #17,377
  • Dec 22, 2008 3:18am Dec 22, 2008 3:18am
Hi guys!

Im new in here but i usually around with Malaysian Traders organized by Shamx. Actually, ive been introducing for this thread by Tok Wanden. Thanks pal!

Yeah.. i gain a lot in here and i do feel great to share what do ive with u guys in here.. Warm welcome!
  • #17,378
  • Dec 22, 2008 3:21am Dec 22, 2008 3:21am
Quoting ghous
Here is a nice example of a fine tuned entry,

The Ib on the daily is what gives the trade direction, and before Friday close is the trigger Ib on the 4H.
Regards,
Ghous.
Hi Ghous,

You are young great trader. Keep watching your post in here.
Bdw, can i comment?
On your GBPCHF, last Friday daily pin, i dont think its PB. Its got weight and thats why price pick up back from the support..

Today candle probably will turn for BEOB... Chances!

Cheers mate!
  • #17,379
  • Dec 22, 2008 3:37am Dec 22, 2008 3:37am
Quoting FXSurfer
Many THANKS to Jim and everyone here!

What a gold mine it is day after day!

Best of trading,
Brent

Do you not advocate the cyrox rainbow anymore Surfer?
  • #17,380
  • Dec 22, 2008 4:05am Dec 22, 2008 4:05am
Quoting johnbaem
Hi Ghous,

You are young great trader. Keep watching your post in here.
Bdw, can i comment?
On your GBPCHF, last Friday daily pin, i dont think its PB. Its got weight and thats why price pick up back from the support..

Today candle probably will turn for BEOB... Chances!

Cheers mate!
Thankyou for your kind compliments John,

I've seen you around Shamx's thread, you guys have a lot of fun, maybe someday we james16ers can arrange an annual dinner too

The Gbp/chf trade was'nt a Pb trade, it was an Ib i.e Inside Bar trade.

Regards,
Ghous.
I believe . . .
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