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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

  • #22,381
  • Feb 24, 2009 12:38pm Feb 24, 2009 12:38pm
NJ is a curious case, its been lagging the other Yen crosses and now looks like there's a double top forming at a PPZ on the daily. Is anyone else seeing this? Sorry for the lack of charts I'm on a Mac
Patience + Humility + Study = Success
  • #22,382
  • Feb 24, 2009 1:03pm Feb 24, 2009 1:03pm
Quoting raczekfx
no, not in this market..
you don't short yen crosses when dow is at 11year low..lol...
.
it looks like party again..
can't be too greedy. just closed half at weekly res..
.
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  • #22,383
  • Feb 24, 2009 1:30pm Feb 24, 2009 1:30pm
Inside bar on cable at a daily level.

Hasn't got much space on the downside, however.
  • #22,384
  • Feb 24, 2009 1:39pm Feb 24, 2009 1:39pm
Quoting raczekfx
it looks like party again..
can't be too greedy. just closed half at weekly res..
.
Can I ask for learning purposes what led you to buy these? So hopefully in the future, I can do the same
Dr. C
  • #22,385
  • Feb 24, 2009 1:54pm Feb 24, 2009 1:54pm
CHF/JPY 1hr pin... thoughts?
Dr. C
  • #22,386
  • Feb 24, 2009 2:09pm Feb 24, 2009 2:09pm
Quoting cvcamper
Can I ask for learning purposes what led you to buy these? So hopefully in the future, I can do the same
sure,

e/j is self explanatory if you look at its weekly chart.
with g/j, it was a pull a pull back to a daily pin on feb 17th. cable was gaining strength and feds stated they're extending the currency swap facilities and issuing more USD to worlds central banks. In such case, all you really need to do to complete your puzzle, is appreciating equities, so you can buy and hold yen crosses. There is only one direction they will go.

ps: just read your post again.... I would advise if I may, that you change your wording to something like: I am trading alike or I'm a very profitable trader ; instead of "...hopefully in the future.....

The power of subconsious mind can do wonders....
  • #22,387
  • Feb 24, 2009 2:28pm Feb 24, 2009 2:28pm
Quoting enculée
I've been watching these yen crosses for over a week waiting for this break north and haven't managed to get on board any

=(
Missing a good move is better than placing a bad trade.

I know it sucks, but worrying about it only leads to over-trading.

If you didn't get a good signal there's nothing you can do about it. There's always more to come.
Bundy's status today: "Waiting..."
  • #22,388
  • Feb 24, 2009 2:33pm Feb 24, 2009 2:33pm
There were great signals. I just happened to be in bed =p

thanks =)
  • #22,389
  • Feb 24, 2009 2:39pm Feb 24, 2009 2:39pm
Quoting enculée
There were great signals. I just happened to be in bed =p

thanks =)
Me too half the time. But I get others.
Bundy's status today: "Waiting..."
  • #22,390
  • Feb 24, 2009 2:39pm Feb 24, 2009 2:39pm
Quoting DutchTrader
NJ is a curious case, its been lagging the other Yen crosses and now looks like there's a double top forming at a PPZ on the daily. Is anyone else seeing this? Sorry for the lack of charts I'm on a Mac
Yes watching this too. It has touched 5000 and come back a bit now. We may get an IB on the hourly. If it breaks up then I'll wait for PA on the retest.
  • #22,391
  • Feb 24, 2009 3:02pm Feb 24, 2009 3:02pm
Quoting ghous
Hi and welcome aboard!!
Ghous,
thanks for your answer! I'm reading and studying this thread, i'm only at page 150, but i think this thread is the best thing i could find about Forex. I'm reading all your posts because i think you are a very good trader. How old are you? I'm 23 and already a student.

I'm also in the weekly pin on EurUsd, from 1.2890: i thoght it was in a good place (swing low) and near a very strong support/PPZ (1.25); i'm very curious to see how it will develope!
  • #22,392
  • Feb 24, 2009 3:42pm Feb 24, 2009 3:42pm
Thought I would post a different one from Mark's yen pairs.
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  • #22,393
  • Feb 24, 2009 3:50pm Feb 24, 2009 3:50pm
Quoting rustyjeff
Thought I would post a different one from Mark's yen pairs.
Jeff, you trade between daily PPZ zone right? I drew line from last weeks about the PPZ, but did not take the hourly PB cause I try to strictly follow Jims approach. But price really bounce up and down from the PPZ as expected and glad that I see what senior members see. I wonder what make you entered on the hourly PB. Thanks Jeff.
  • #22,394
  • Feb 24, 2009 4:19pm Feb 24, 2009 4:19pm
hey guys
sorry is dis a good pin, been waiting on a retrace from the crazy move up, didnt enter then, wasnt around...do u think dis pin is good to trade
not really a long nose...but im def going to wait for the bar to close for confirmation....thnx guys
ps...been studying for my exams....lol
cheers
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Simplicity is the key to success
  • #22,395
  • Feb 24, 2009 4:25pm Feb 24, 2009 4:25pm
Quoting arcus
Jeff, you trade between daily PPZ zone right? I drew line from last weeks about the PPZ, but did not take the hourly PB cause I try to strictly follow Jims approach. But price really bounce up and down from the PPZ as expected and glad that I see what senior members see. I wonder what make you entered on the hourly PB. Thanks Jeff.
Hey Arcus,
I took 2 trades from this area.
Reason i was watching this area is that there is a ppz & the 61 fib of the daily beob.
Last night I took the entry on a touch of this area, set a tp & moved to b/e went to bed. In the morning the trade was done.
Today I saw price heading back to the area again so i waited for it to get close to the previous entry point, forming a doudle top. & showing a respect for the ppz.
I had wanted a higher entry but price did not get there so i entered just before the close of the bar.
This i will watch for a while to see how it behaves but I have more confidence for a further move lower based on todays action.

This is a very agresive way to trade so dont try this with money. You will regret it. I dont only trade this way. My daily trades are done the same as James, mostly getting out at the first reaction area at least getting stops to b/e at the first logical area.
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  • #22,396
  • Feb 24, 2009 4:35pm Feb 24, 2009 4:35pm
Just wanted to let you all know that a 30 minute excerpt from the recent webinar is now available in the guest area.

Jim
  • #22,397
  • Feb 24, 2009 4:55pm Feb 24, 2009 4:55pm
Quoting james16
Just wanted to let you all know that a 30 minute excerpt from the recent webinar is now available in the guest area.

Jim
Thank you so much!!You don't know how much I look forward to these.On my way to watch it!!Take care jim!!
  • #22,398
  • Feb 24, 2009 5:25pm Feb 24, 2009 5:25pm
ej h4 ended not been a pin on my feed....
patience,patience,patience.....
Simplicity is the key to success
  • #22,399
  • Feb 24, 2009 5:32pm Feb 24, 2009 5:32pm
Quoting james16
Just wanted to let you all know that a 30 minute excerpt from the recent webinar is now available in the guest area.

Jim

Great Video Jim, really Great!!

For me it wasn't so much about the setups you were showing but the things you were saying and how you were saying them.... You just make it sound so plain and simple and I am really starting to believe it is.

Thanks so much

Leon
  • #22,400
  • Feb 24, 2009 5:38pm Feb 24, 2009 5:38pm
Is anyone else getting really excited??? With all of these HUGE rockets in prices there will bound to be some awosme PB or PA to signal a nice short in the days ahead.... Not gonna force anything, but Im thinking there will be
Dr. C
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