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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

  • #22,281
  • Feb 23, 2009 1:18pm Feb 23, 2009 1:18pm
USD index just hit a 61.8 retracement from the last move down. I expect equities, eur and chf to continue their bull run.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #22,282
  • Feb 23, 2009 1:24pm Feb 23, 2009 1:24pm
Really nice trade. counter trade, but div + pin. TP on round number.
+20 done.

http://img22.imageshack.us/img22/6906/gum5.gif
  • #22,283
  • Feb 23, 2009 1:27pm Feb 23, 2009 1:27pm
Quoting djambazov84
USD index just hit a 61.8 retracement from the last move down. I expect equities, eur and chf to continue their bull run.
Equities bull run??

What market are you watching?
  • #22,284
  • Feb 23, 2009 1:28pm Feb 23, 2009 1:28pm
Quoting enculée
Equities bull run??

What market are you watching?
Sorry meant equities to reverse. Thanks for pointing that out. 2 hours of sleep
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #22,285
  • Feb 23, 2009 1:28pm Feb 23, 2009 1:28pm
Also, hourly pin USDJPY with divergence MACD, just goes to show, trade what you see, not your opinion.

However, I'm still bullish =D
  • #22,286
  • Feb 23, 2009 1:36pm Feb 23, 2009 1:36pm
Quoting Flem26
that euro bull don't want to stick . . . looking pretty bearish now on the daily. glad i passed on that one . . .
I wouldn't be so surre about it. All in all we are playing weekly setup so it could take some time before proper bull run will start. Maybe they just want us to be on the wrong side which could be long usd before the big money comes in.
Of course it is only a possibility but my limit orders where triggered , stops are far away and im still in comfort zone ;];].
  • #22,287
  • Feb 23, 2009 1:49pm Feb 23, 2009 1:49pm
Quoting Greenhaze
I wouldn't be so surre about it. All in all we are playing weekly setup so it could take some time before proper bull run will start. Maybe they just want us to be on the wrong side which could be long usd before the big money comes in.
Of course it is only a possibility but my limit orders where triggered , stops are far away and im still in comfort zone ;];].
i wish i had your confidence.
"Don't trade to trade . . . trade to win." - James16
  • #22,288
  • Feb 23, 2009 2:26pm Feb 23, 2009 2:26pm
Quoting Flem26
i wish i had your confidence.
lol. Anybody can be confident on demo ;] ... I stick to my plan ..thats all. I had a good strike last month so i'm more confident about my analysis and i do not care if i lose as long as i am not acting like i did half year ago....
  • #22,289
  • Feb 23, 2009 2:47pm Feb 23, 2009 2:47pm
I am thinking of Shorting USD/JPY here.... looks to have made a double top... any thoughts from the vets?
Dr. C
  • #22,290
  • Feb 23, 2009 2:50pm Feb 23, 2009 2:50pm
I am in some major draw down on the EURUSD weekly trade on 1/3 of my trade. I took profit on 2/3 at 129.90 which was sweet. Hopefully this reverses sometime soon .
  • #22,291
  • Feb 23, 2009 2:51pm Feb 23, 2009 2:51pm
Quoting raczekfx
for now I'm seeing and taking advantage of e/j and g/j.
Markets constantly evolve, so this will change in the future for sure but we as smart and observant traders will adjust our strategies as well..

ok...thank you...no more question for now...time to do my research...
  • #22,292
  • Feb 23, 2009 2:55pm Feb 23, 2009 2:55pm
I can´t see any Bearish PA from here, so I´ll keep my longs until I see a PB or a BEOB...

Quoting cvcamper
I am thinking of Shorting USD/JPY here.... looks to have made a double top... any thoughts from the vets?
  • #22,293
  • Feb 23, 2009 2:58pm Feb 23, 2009 2:58pm
Im no vet but Ive been short for an hour.
  • #22,294
  • Feb 23, 2009 3:01pm Feb 23, 2009 3:01pm
Hi guys,

noticed a pb on chfjpy daily pin.
pro: good shape, swing high, lots of space, 50% fibo from last drop.
con: ? i don't see any,

what's your thoughts on this one?
thanks!
fxsheep
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy_pb.gif Size: 10 KB
  • #22,295
  • Feb 23, 2009 3:03pm Feb 23, 2009 3:03pm
Nice scalp enculée, remember to take some of your profit soon... this pair is still in Bull mode.

Quoting enculée
Im no vet but Ive been short for an hour.
  • #22,296
  • Feb 23, 2009 3:04pm Feb 23, 2009 3:04pm
Quoting malvarezdel
I can´t see any Bearish PA from here, so I´ll keep my longs until I see a PB or a BEOB...
Can someone point me a reference to where all the abbreviations are such as BEOB, and what they mean....? TY
Dr. C
  • #22,297
  • Feb 23, 2009 3:05pm Feb 23, 2009 3:05pm
1. dblhc;double bar low with a higher close on second bar

2. dbhlc; double bar high with a lower close on second bar

3. the above can be triples or more

4. two or more matching highs or lows which if broken usually mean a
resumption of the current trend

5. beovb; bearish outside verticle bar; second bar totally encompasses the
prior bar with a lower close on the second. usually signals a continuation
of the current trend.

6. buovb; bullish outside vertical bar; same as above just reversed.

From somewhere in the start of this thread

cvc if you are struggling i suggest the videos in the guest section, they really helped me understand things better.. seriously just watch them all
  • #22,298
  • Feb 23, 2009 3:41pm Feb 23, 2009 3:41pm
i'm thinking of going for a short based on this daily pin on the euro. thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: euro_dollar2.gif Size: 13 KB
"Don't trade to trade . . . trade to win." - James16
  • #22,299
  • Feb 23, 2009 3:43pm Feb 23, 2009 3:43pm
Quoting Flem26
i'm thinking of going for a short based on this daily pin on the euro. thoughts?
Too much traffic for me...
Dr. C
  • #22,300
  • Feb 23, 2009 3:46pm Feb 23, 2009 3:46pm
Quoting cvcamper
Can someone point me a reference to where all the abbreviations are such as BEOB, and what they mean....? TY
Hi ya Cvcamper..

Here are some excellent examples by Mike:
http://www.forexfactory.com/showpost...postcount=7649

And an attached pdf of explainations....

Hope this helps,

Adrian
Attached File(s)
File Type: pdf PriceActionSetups.pdf   43 KB | 866 downloads
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