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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

  • #24,081
  • Mar 18, 2009 2:33pm Mar 18, 2009 2:33pm
Quoting ghous
All of this goes parallel,

A good fundamental trader shorted the $ after the FOMC, a good technical trader saw that happening (via price bars) on the dollar index and some $ crosses.

It points towards the fact that "technical vs fundamental" debate is basically like quarreling over the question "Did we first see the Hen or the egg?"
Except for the fact that the chart has been telling us this for some time now.
  • #24,082
  • Mar 18, 2009 2:47pm Mar 18, 2009 2:47pm
Quoting dkmb92
what broker(s) can we trade these thru? i am not familiar w/ any (reputable) futures brokers that dont require one to have a big liquid net worth. tradestation requires one to have $50k, even though they only require $5k to fund an account. i am assuming no spreads & that the commission for 1 micro would be real cheap, as well as any margin requirements. i guess 5 micros would be equal to 1 emini (which is half a regular/normal contract).

I've been trading for a while with Infinity Futures: http://www.infinityfutures.com/

I trade the emini contracts on Dow and S&P and they only require $500 intraday margin/contract. Also a low commission. If you're interested in them let me know and I'll refer you to my broker there.
It's all about cautious - and highly educated - wagering on probabilities.
  • #24,083
  • Mar 18, 2009 2:48pm Mar 18, 2009 2:48pm
before fomc..
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  • #24,084
  • Mar 18, 2009 2:50pm Mar 18, 2009 2:50pm
after....

tp hit & out. easy
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  • #24,085
  • Mar 18, 2009 2:52pm Mar 18, 2009 2:52pm
Quoting Bemac
Will it last?

I think so... Retrace is inevitable but I say This Ship has dumped it's cargo, is Loaded & heading out of port.

B

We ave'n accord....arghhh...
  • #24,086
  • Mar 18, 2009 3:05pm Mar 18, 2009 3:05pm
Quoting malvarezdel
Due to the Synthetic nature of GBP/JPY it´s very common to see very deep spikes in this pair during very important News releases like today. The fact is that ALWAYS one leg of the pair (in this case USD/JPY) acts faster than the other one (GBP/USD) producing the spike and after some minutes the pair tends to stabilize. All this give us an easy oportunity to enter a trade against the spike take some profit (in this case +200 pips) and let the rest of the position run with SL at break even.

The result??? a nice PB is formed and you are in the trade...
hi malvarezdel,can you expand a little on this?? what do you mean by ""synthetic nature""?
thanx, jon
PATIENCE... DISCIPLINE
  • #24,087
  • Mar 18, 2009 3:06pm Mar 18, 2009 3:06pm
Quoting g_j_hook@yah
hi malvarezdel,can you expand a little on this?? what do you mean by ""synthetic nature""?
thanx, jon
I assume he means that its a combination of USDJPY and GBPUSD
Patience + Humility + Study = Success
  • #24,088
  • Mar 18, 2009 3:08pm Mar 18, 2009 3:08pm
Quoting rustyjeff
We ave'n accord....arghhh...
Captain Will Sparrow will abscond with the prize but don't worry, there is enough to share.
  • #24,089
  • Mar 18, 2009 3:13pm Mar 18, 2009 3:13pm
heres a short for you kids..

I may regret posting this....

stops are tight.
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  • #24,090
  • Mar 18, 2009 3:17pm Mar 18, 2009 3:17pm
Quoting Chris P
Thanks for all the b'day wishes peeps!

Ghous, Jon, SupremeChaos, thanks. Mike (saw your PM in the PF last night, but was falling asleep in my chair! lol)
Hey chris, what's your birthday? is it 19 March? I'm exactly 25 on 19th march, happy birthday to both of us dude.

I envy you for having pips as birthday presents, mine's only a home cooked dinner

but this november I promise myself I'll make christmas come early

Best wishes and may you live long and prosper (in pips)
  • #24,091
  • Mar 18, 2009 3:17pm Mar 18, 2009 3:17pm
Quoting rustyjeff
heres a short for you kids..

I may regret posting this....

stops are tight.
Dear Sir,

as I am in the very same fiber short I wanted to consult about what your TP on this one would be ?

Do I dare fancy the likelihoods of 1.3050 ?

Appreciate your input
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #24,092
  • Mar 18, 2009 3:19pm Mar 18, 2009 3:19pm
PayDay on the Weekly BEOB Cad. I sure now we'll see a J16 chart.

(Sorry can't post a current chart now, I wish I could because it looks beautiful .)

http://www.forexfactory.com/showpost...ostcount=23817
Indicators show the past. Price Action "Indicates" the future.
  • #24,093
  • Mar 18, 2009 3:22pm Mar 18, 2009 3:22pm
Quoting DutchTrader
I assume he means that its a combination of USDJPY and GBPUSD
just been reading a couple of articles.starting to get the picture a little now
thanx jon
PATIENCE... DISCIPLINE
  • #24,094
  • Mar 18, 2009 3:22pm Mar 18, 2009 3:22pm
Quoting djambazov84
Dear Sir,

as I am in the very same fiber short I wanted to consult about what your TP on this one would be ?

Do I dare fancy the likelihoods of 1.3050 ?

Appreciate your input

the immediade for me is 1.3330 but am playing this close watching how price moves in the coming hours.
NY is closing but only aud is about to open then japan. i'm not sure what retrace we get but i'm not taking a loser on it.
I may get out on 1/2 early then @ be & wait for long pa on a lower level.
  • #24,095
  • Mar 18, 2009 3:29pm Mar 18, 2009 3:29pm
Just for you Jarroo,
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PATIENCE... DISCIPLINE
  • #24,096
  • Mar 18, 2009 3:31pm Mar 18, 2009 3:31pm
Quoting rustyjeff
after....

tp hit & out. easy
and what if after the FOMC the dollar went up instead of down? it would have broke thru resistance and thru your stop most likely
none of us knew what the FOMC was going to do..
i think you just got lucky
  • #24,097
  • Mar 18, 2009 3:32pm Mar 18, 2009 3:32pm
When you watch the market it is not difficult at all to pre empt news announcements.
  • #24,098
  • Mar 18, 2009 3:33pm Mar 18, 2009 3:33pm
Quoting jarroo
PayDay on the Weekly BEOB Cad. I sure now we'll see a J16 chart.

(Sorry can't post a current chart now, I wish I could because it looks beautiful .)

http://www.forexfactory.com/showpost...ostcount=23817
i thought we were waiting for a breakout on USDCAD.. which happened after the FOMC announcement.. however that is like trading during news..
or you already had your short in place and it hit after the news was rels? what price was that?
i was waiting to enter after a breakout..however that breakout occurred because of news.. and i dont trade news
  • #24,099
  • Mar 18, 2009 3:34pm Mar 18, 2009 3:34pm
Quoting enculée
When you watch the market it is not difficult at all to pre empt news announcements.
you can pre empt all news announcements easily? then why are you here on FF? aren't you some multimillionaire?
have you watched whipsaws that take out stops during news?
now wonder you've only been a member since Jan 2009
  • #24,100
  • Mar 18, 2009 3:38pm Mar 18, 2009 3:38pm
Quoting dengzhi
and what if after the FOMC the dollar went up instead of down? it would have broke thru resistance and thru your stop most likely
none of us knew what the FOMC was going to do..
i think you just got lucky

Yes you could call it luck.
I just played the pa. about 16 hrs before the major fall. the 2 4hr bars highlighted I played as an 8hr pin at res.

Often pa will give an indication (not 1hr ahead of time) but the day or 12hrs before as to the way the major dudes are positioning themselves.
I just did the same.
Yes it does not allways happen & it could quite as easily gone against me.
Hence i was willing to risk my 1%.

It is all just probabilities after all
Jeff
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