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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

  • #18,461
  • Jan 13, 2009 11:54am Jan 13, 2009 11:54am
Quoting Shermenator
Alright here is somthing I am looking to aim for ...need it to retrace and then I will look for shorts its a holding trade

Attachment
Hi Shermenator, just out of curiosity, what are those resistance low, resistance failure, pivot, etc...points on your chart? Sorry if you've answered this before.
  • #18,462
  • Jan 13, 2009 11:58am Jan 13, 2009 11:58am
Quoting G550
Did anyone catch this at all? I got in and got out last night at the green line where I had anticipated resistance. Obviously, it blew by that but I still managed to capture nearly 200 pips.

Hi there, you seem to have caught a great Pb even though it was in traffic

You got out becuase of MM constraints (you were'nt allowed any partial profits) or was it out of will?

Regards,
Ghous.
I believe . . .
  • #18,463
  • Jan 13, 2009 12:13pm Jan 13, 2009 12:13pm
Quoting G550
Hi Shermenator, just out of curiosity, what are those resistance low, resistance failure, pivot, etc...points on your chart? Sorry if you've answered this before.

38.2 fibb is short in this case...
pivot is the 50 percent
and the 61.8 is the long fibb....

I use names on my fibbs
  • #18,464
  • Jan 13, 2009 12:25pm Jan 13, 2009 12:25pm
Quoting stoli7188
Hey everyone, the position sizing spreadsheet I used to use has some errors in it so I was just wondering how you guys determine your position size for your daily trades? Anyone have a good free calculator or a spreadsheet calculator without errors?
I did a search for position size calculator in search engine and I found this:

here
forexcalc seems decent enough and if you use Oanda I think they have one as well. It will give position size in units so you will need to round up or down to make it the appropriate lot size, nano, micro, mini, standard, etc.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #18,465
  • Jan 13, 2009 12:33pm Jan 13, 2009 12:33pm
Shorts below red arrow and longs above green arrow...
Look for price action at this levels
long scalps shorts holds...peace going to sleep

Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 17 KB
  • #18,466
  • Jan 13, 2009 12:49pm Jan 13, 2009 12:49pm
man, cad/jpy, gbp/chf, and eur/chf into the abyss. it still amazes me how this stuff works. PA rocks!
"Don't trade to trade . . . trade to win." - James16
  • #18,467
  • Jan 13, 2009 12:56pm Jan 13, 2009 12:56pm
GBP/JPY just made historic lows, touched 129.00.
  • #18,468
  • Jan 13, 2009 12:56pm Jan 13, 2009 12:56pm
Quoting ghous
..if i ever get to reside somewhere else (I am looking forward to malaysia or the Uk for higher education) I'll get a tonne of these...

...

Regards,
Ghous.
If you residing in Malaysia then it would be great. I can see you, but wait till I get back there lol
  • #18,469
  • Jan 13, 2009 1:30pm Jan 13, 2009 1:30pm
Quoting trujillo1980
I hope when I go live still have this kind of patience....
Will see, just time will tell...
UPDATE.....
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPY.jpg Size: 155 KB
  • #18,470
  • Edited 2:48pm Jan 13, 2009 2:24pm | Edited 2:48pm
Quoting G550
Did anyone catch this at all? I got in and got out last night at the green line where I had anticipated resistance. Obviously, it blew by that but I still managed to capture nearly 200 pips.
Nice work!....I passed on this pin because it looks like more of a neutral bar to me on IBFX....good on you for bagging some though.

Need coffee....crap nights sleep....got to 42 degrees celsuis here yesterday
  • #18,471
  • Jan 13, 2009 2:58pm Jan 13, 2009 2:58pm
Quoting LasVahGoose
I did a search for position size calculator in search engine and I found this:

here
forexcalc seems decent enough and if you use Oanda I think they have one as well. It will give position size in units so you will need to round up or down to make it the appropriate lot size, nano, micro, mini, standard, etc.
Thanks man, I actually found that one too and while I don't see anything wrong with it I was hoping to find a program or even better, a spreadsheet that I can run off my computer and not a website. But thanks for the response.
  • #18,472
  • Jan 13, 2009 3:05pm Jan 13, 2009 3:05pm
Quoting stoli7188
Thanks man, I actually found that one too and while I don't see anything wrong with it I was hoping to find a program or even better, a spreadsheet that I can run off my computer and not a website. But thanks for the response.

I use this one. it also can be configured to get realtime prices on the spreadsheet. (works on InterbankFX)
Attached File(s)
File Type: xls mini position size.xls   51 KB | 780 downloads
  • #18,473
  • Jan 13, 2009 3:23pm Jan 13, 2009 3:23pm
Quoting tehuringa
Nice work!....I passed on this pin because it looks like more of a neutral bar to me on IBFX....good on you for bagging some though.

Need coffee....crap nights sleep....got to 42 degrees celsuis here yesterday
I hear ya on the "shape" of the bar. I was more interested in the location. I didn't see any reasonable support below the break for a couple hundred pips at least. So it worked out. They don't all do; a lil' luck is important
  • #18,474
  • Edited 3:49pm Jan 13, 2009 3:36pm | Edited 3:49pm
Quoting HipsterPipster
GBP/JPY just made historic lows, touched 129.00.
I have a feeling that razcek may have a Buy in that area. lol
Indicators show the past. Price Action "Indicates" the future.
  • #18,475
  • Jan 13, 2009 3:36pm Jan 13, 2009 3:36pm
Quoting ghous
Hi there, you seem to have caught a great Pb even though it was in traffic

You got out becuase of MM constraints (you were'nt allowed any partial profits) or was it out of will?

Regards,
Ghous.
To be honest, Gous, I didn't think it was that much in traffic. I really only consider highs/lows of a bar, not the body when I consider traffic. In my view, there really was no traffic until the collection of three weekly high's within 60 pips of each other, with the mid point being around .5580. I set my take profit above here, around 5605, which was very close to the 11.16 weekly high of 5615.

Additionally, if you look at the daily chart, the same move down coincided with a break of a small rising uptrend. It looked good in my opinion given the circumstances.
  • #18,476
  • Jan 13, 2009 3:41pm Jan 13, 2009 3:41pm
Quoting HipsterPipster
GBP/JPY just made historic lows, touched 129.00.
For the record the low of 95 is 128.33
  • #18,477
  • Jan 13, 2009 3:43pm Jan 13, 2009 3:43pm
Quoting belekas
For the record the low of 95 is 128.33
Are you sure? I have 129.33 in 95
Indicators show the past. Price Action "Indicates" the future.
  • #18,478
  • Jan 13, 2009 3:45pm Jan 13, 2009 3:45pm
Quoting jarroo
Are you sure? I have 129.33 in 95
Im in the middle of discussion with Igrok. Check his post here
  • #18,479
  • Jan 13, 2009 3:45pm Jan 13, 2009 3:45pm
A few tasty looking pins about to close

AUDUSD - R:R - 1:1 off 0.66
NZDUSD - R:R - 2:1 off .55
EURJPY - R:R - 4:1 off 117
CADJPY - R:R - 3:1 off 72.5

CADJPY looks best for me... Although it does have some resistance just above it...
Id have liked EJ a bit lower and it may not even close as a pin.
Edit - EJ, may be the best bet if it closes above 118...


Thoughts?
Attached Images
  • #18,480
  • Jan 13, 2009 3:55pm Jan 13, 2009 3:55pm
Quoting jicjoc
A few tasty looking pins about to close

AUDUSD - R:R - 1:1 off 0.66
NZDUSD - R:R - 2:1 off .55
EURJPY - R:R - 4:1 off 117
CADJPY - R:R - 3:1 off 72.5

CADJPY looks best for me... Although it does have some resistance just above it...
Id have liked EJ a bit lower and it may not even close as a pin.
Edit - EJ, may be the best bet if it closes above 118...


Thoughts?
Let's make sure they close within the previous bar.
Indicators show the past. Price Action "Indicates" the future.
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