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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

  • #22,341
  • Feb 23, 2009 10:24pm Feb 23, 2009 10:24pm
Quoting mbqb11
Hey Scott

I don't really like the look of either....
Thanks for the reply Mike, your analysis and critiquing (and the other seniors) has helped me so much.

I'm glad you agree with me on the box of congestion that I outlined on E/J being a problem area to trade into--that area made it an immediate no trade for me. Also, I don't like the way price is moving up quickly on CHF/JPY..it even took out the previous bar high (left eye) which I outlined in blue.

I guess I was just waiting for a nice break down to 79.70 where I could take a 60 pip profit and set the rest to B/E. The pin on IBFX also looked alot nicer than it does on your feed. Back to waiting for the next one
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  • #22,342
  • Feb 23, 2009 10:30pm Feb 23, 2009 10:30pm
Quoting Betard
Be careful taking a signal off of PA during the Asian session, it often gets reversed at London open so there's not much follow-through. I usually just ignore 1hr/4hr PA during Asian session.
+1 on avoiding the Asian session on lower TF's
  • #22,343
  • Feb 23, 2009 11:48pm Feb 23, 2009 11:48pm
Quoting Betard
Be careful taking a signal off of PA during the Asian session, it often gets reversed at London open so there's not much follow-through. I usually just ignore 1hr/4hr PA during Asian session.
You know I heard that before. Thanks for the reminder.
  • #22,344
  • Feb 24, 2009 1:05am Feb 24, 2009 1:05am
guys, can u please commets on this one? I took the ob break up in h4.

thanks
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  • #22,345
  • Feb 24, 2009 3:40am Feb 24, 2009 3:40am
Quoting Piproo
guys, can u please commets on this one? I took the ob break up in h4.

thanks
Does'nt look too goog to me Piproo, the 1.46 ppz is hovering above that BUOB.

Regards,
Ghous.
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I believe . . .
  • #22,346
  • Feb 24, 2009 3:40am Feb 24, 2009 3:40am
Are you guys still looking to sell a break of Friday's BEOB?
We've had 61% retrace (almost) could be on its way down again for a possible retest of 1.1460.

Steve
"The more I practice, the luckier I get." (Gary Player)
  • #22,347
  • Feb 24, 2009 3:41am Feb 24, 2009 3:41am
EURJPY has broken out, been waiting for this for a few days.

Waiting for retrace + PA.
  • #22,348
  • Feb 24, 2009 4:09am Feb 24, 2009 4:09am
usdchf - scaled into this last night when price retested the TL and added to it this morning when it broke the iffy looking pin.

gbpchf - beob on 1hr was the entry but it was the break of rectangle that cuaght my interest

eurusd - 4hr I4B - already out at daily pivot as was never sure which direction this pair is really going in.



usdjpy - break of rectangle on 4hr - used IB on 1hr as entry after retest
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  • #22,349
  • Feb 24, 2009 4:11am Feb 24, 2009 4:11am
Quoting enculée
EURJPY has broken out, been waiting for this for a few days.

Waiting for retrace + PA.
Hmmm. I think it broke yesterday already testing the support about 10 hours ago. I would be cautious buying on another retest.
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  • #22,350
  • Feb 24, 2009 4:13am Feb 24, 2009 4:13am
Looks like the drinks are you Simon.
"The more I practice, the luckier I get." (Gary Player)
  • #22,351
  • Feb 24, 2009 4:16am Feb 24, 2009 4:16am
Anybody into this pinbar? I was quietly expecting good pa there and there it is...those buys are from fading into weekly pin.
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  • #22,352
  • Feb 24, 2009 4:18am Feb 24, 2009 4:18am
Quoting mrsingha
Looks like the drinks are you Simon.
haha - not really, just repairs yesterdays losses
  • #22,353
  • Feb 24, 2009 5:35am Feb 24, 2009 5:35am
Quoting ghous
Does'nt look too goog to me Piproo, the 1.46 ppz is hovering above that BUOB.

Regards,
Ghous.
makes senses. ghous. it's clear now on he chart. Ｉmissed this cluster.

thank you
  • #22,354
  • Feb 24, 2009 6:38am Feb 24, 2009 6:38am
hi all,

I have a question to those trading Dailys, do you trade FX futures rather than Spot ? ie. more spread but no rolling fees ?
  • #22,355
  • Feb 24, 2009 6:45am Feb 24, 2009 6:45am
Quoting advfntrader
hi all,

I have a question to those trading Dailys, do you trade FX futures rather than Spot ? ie. more spread but no rolling fees ?
Spot. more 24hour liquidity.
  • #22,356
  • Feb 24, 2009 6:51am Feb 24, 2009 6:51am
Quoting advfntrader
hi all,

I have a question to those trading Dailys, do you trade FX futures rather than Spot ? ie. more spread but no rolling fees ?

Hi adt,
i am guessing you are using a spread betting account? I used to use one but have since moved to Oanda as it allows better position sizing. Now i have to pay the interest/swap rate, instead of having the contract roll over at a different price. There are positives/negatives to the roll contracts - great if you are already in profit as they will lock in profit for you without you moving your stop or reducing size. But if at the time that the position rolls you are negative, maybe beacaues there has been some draw down then you affectively realise P/L that you wouldn't normally have to with a futures/fx account. I found this the most annoying and it would eat into my profits.

cheers

Simon
  • #22,357
  • Feb 24, 2009 6:58am Feb 24, 2009 6:58am
yes I have been using Sbet account at 50p per point (ODL). However, I have found position sizing difficult so I am now looking at Mini FX account but I think even 0.1 lots works out more than 50p per point ?
  • #22,358
  • Feb 24, 2009 7:03am Feb 24, 2009 7:03am
Quoting ayour2a
Rac,
are you planning on Shorting the yen and whats is the correlation between dj and the yen pairs?Thanks

ayour2a
no, not in this market..
you don't short yen crosses when dow is at 11year low..lol... Unless you're thinking shorting yen itself? If so, then, that's ok.

I wanted to add e/j and buy g/j as well as eu, nu and au.
Yen crosses worked very well but the rest lagging behind. Anyhow stops are at be with some profit already booked...
.
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  • #22,359
  • Feb 24, 2009 7:04am Feb 24, 2009 7:04am
Quoting Greenhaze
Anybody into this pinbar? I was quietly expecting good pa there and there it is...those buys are from fading into weekly pin.
Seem a nice entry...

How abt ur SL??

Sonic
  • #22,360
  • Feb 24, 2009 7:17am Feb 24, 2009 7:17am
Quoting raczekfx
no, not in this market..
you don't short yen crosses when dow is at 11year low..lol... Unless you're thinking shorting yen itself? If so, then, that's ok.

I wanted to add e/j and buy g/j as well as eu, nu and au.
Yen crosses worked very well but the rest lagging behind. Anyhow stops are at be with some profit already booked...
.
good trades, rac
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