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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

  • #24,101
  • Mar 18, 2009 3:42pm Mar 18, 2009 3:42pm
Quoting dengzhi
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
Since when does my membership here measure my trading? Or my bank balance with my ability to post on the internet?

The dollar index has doubled topped, weekly shooting star; Head and shoulders on USDCAD last week; EURUSD double bottom.

TECHNICALS LEAD FUNDAMENTALS

Don't forget this.
  • #24,102
  • Mar 18, 2009 3:42pm Mar 18, 2009 3:42pm
not gettin involved in this one but iv was short us/chf and gb/chf and long eu/us and had an order in to short the us/cad.
never had a thought for the fomc.all trades were entered about 11-11.30 this morning!!
jon
good night
PATIENCE... DISCIPLINE
  • #24,103
  • Mar 18, 2009 3:44pm Mar 18, 2009 3:44pm
Quoting g_j_hook@yah
just been reading a couple of articles.starting to get the picture a little now
thanx jon
Hiya GJ,

I can't seem to find any articles regarding that GBP / JPY synthetic pair and late spike matter, or maybe it's just tired eyes, anways, care to spoon feed me some links on it? heh heh

Thanks.

Marcel
  • #24,104
  • Mar 18, 2009 3:45pm Mar 18, 2009 3:45pm
Quoting djambazov84
Dear Sir,

as I am in the very same fiber short ....
Might I suggest adding some roughage to your diet. Musilix might be a nice supplement too. Celery stalks anyone? Does wonders for the gastrointestinal tract.

BTW, which pair is "fiber" and why is it called that?
  • #24,105
  • Mar 18, 2009 3:46pm Mar 18, 2009 3:46pm
Quoting enculée
Since when does my membership here measure my trading? Or my bank balance with my ability to post on the internet?

The dollar index has doubled topped, weekly shooting star; Head and shoulders on USDCAD last week; EURUSD double bottom.

TECHNICALS LEAD FUNDAMENTALS

Don't forget this.
calm down boys, I'm sure no one wants any of this
  • #24,106
  • Mar 18, 2009 3:49pm Mar 18, 2009 3:49pm
Hi I entered the USD/CAD short when it broke off the weekly BEOB this morning...Had to endure the immediate drawdown of up to -130 I think but now I closed most of it for a nice +145 pips, the rest moved to B/E and a more aggressive target...pheeww, that was a tough one.

My question to raczekfx or other more senior members or PF members is...was it stupid to enter a trade before the pending FOMC meeting (or more accurately to leave my pending order for the trade to be triggered prior to news). I think Jim doesn't pay much attention to news and I don't either except for being aware when it's coming out.


Quoting raczekfx
not yet waiting to.. just before fomc
pullback to 2780 - 2840 would be good imho. flat out just above
  • #24,107
  • Mar 18, 2009 3:55pm Mar 18, 2009 3:55pm
Quoting marcelnyo
Hiya GJ,

I can't seem to find any articles regarding that GBP / JPY synthetic pair and late spike matter, or maybe it's just tired eyes, anways, care to spoon feed me some links on it? heh heh

Thanks.

Marcel
i went to his profile and read the posts on the thread which he has posted.( 3 comments)
PATIENCE... DISCIPLINE
  • #24,108
  • Mar 18, 2009 3:56pm Mar 18, 2009 3:56pm
and this is just trendlines and a fib retrace!
last post good night all,happy hunting
Attached Image (click to enlarge)
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PATIENCE... DISCIPLINE
  • #24,109
  • Mar 18, 2009 4:00pm Mar 18, 2009 4:00pm
Quoting dengzhi
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

Was there News today? I don't follow News unless its the first Friday of the month or interest rate announcement.

News is Price and Price is News.

If you must know . . .
I had the Low of the Weekly BEOB of 1.2624, since this is a weekly PA setup I want Price to break convincingly so my "buffer" is about 15 to 20 pips. That would put me at the 1.2600 level (Round Number) so my sell stop was placed at 1.2590.

If I were to play it more aggresively I would have entered at the previous Bar (candle) Low of the weekly BEOB (around 1.2700, interesting another Round Number ) after the 1.2624 break. Man, I wanted to . . . but chose to play it like I had $10,000 dollar on it, which I didn't. Just my 2%, which is much less.
Indicators show the past. Price Action "Indicates" the future.
  • #24,110
  • Mar 18, 2009 4:03pm Mar 18, 2009 4:03pm
Quoting g_j_hook@yah
Just for you Jarroo,

Thanks gj. She sure is pretty.
Indicators show the past. Price Action "Indicates" the future.
  • #24,111
  • Mar 18, 2009 4:12pm Mar 18, 2009 4:12pm
Quoting Bemac
Captain Will Sparrow will abscond with the prize but don't worry, there is enough to share.

Ill be glad to fly behind the wake & pick up the scraps..
  • #24,112
  • Mar 18, 2009 4:15pm Mar 18, 2009 4:15pm
Quoting jarroo
Was there News today? I don't follow News unless its the first Friday of the month or interest rate announcement.

News is Price and Price is News.

If you must know . . .
I had the Low of the Weekly BEOB of 1.2624, since this is a weekly PA setup I want Price to break convincingly so my "buffer" is about 15 to 20 pips. That would put me at the 1.2600 level (Round Number) so my sell stop was placed at 1.2590.

If I were to play it more aggresively I would have entered at the previous Bar (candle) Low of the weekly BEOB (around 1.2700, interesting...
The Daily DBHLC combined with the weekly BEOB had me convinced even before the news. Woke up to my limit order being hit.
Attached Image (click to enlarge)
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  • #24,113
  • Mar 18, 2009 4:30pm Mar 18, 2009 4:30pm
Quoting rustyjeff
Ill be glad to fly behind the wake & pick up the scraps..
I wonder if you realize how profound this statement is?

Think about it.

What do you need before you Fly Solo.

{Belief that you (actually did) study hard.}

In this venture,
Your Life is in Your hands.
  • #24,114
  • Mar 18, 2009 4:32pm Mar 18, 2009 4:32pm
Quoting Verto
The Daily DBHLC combined with the weekly BEOB had me convinced even before the news. Woke up to my limit order being hit.

Not sure on the DBHLC. You want the Highs within 1 or 2 pips , also the Low should be lower the the previous bar, preferably the entire bar. Glad it worked out.
Indicators show the past. Price Action "Indicates" the future.
  • #24,115
  • Mar 18, 2009 4:37pm Mar 18, 2009 4:37pm
Quoting jarroo
Not sure on the DBHLC. You want the Highs within 1 or 2 pips close, also the Low should be lower the the previous bar, preferably the entire bar. Glad it worked out.
Really? The highs are within 1 pip, 1.2766 - 1.2765, and the low is a lower close than the previous bar's close. Yeah.. it wasn't lower than the entire length of the preious bar but yeah it is more of an inside bar with DBH... Oh well.. it worked out, that is all that matters in the end.
  • #24,116
  • Mar 18, 2009 4:50pm Mar 18, 2009 4:50pm
Quoting Bemac
I wonder if you realize how profound this statement is?

Think about it.

What do you need before you Fly Solo.

{Belief that you (actually did) study hard.}

In this venture,
Your Life is in Your hands.
I sure wish I could decipher your language Bemac. I just know there is good stuff in there!
  • #24,117
  • Mar 18, 2009 4:53pm Mar 18, 2009 4:53pm
Quoting Bemac
I wonder if you realize how profound this statement is?

Think about it.

What do you need before you Fly Solo.

{Belief that you (actually did) study hard.}

In this venture,
Your Life is in Your hands.
I actually do realize the profoundness.
I am not where I want to be yet but I do know where I am & like the road i'm on.

I will get there.... but till i'm there I will take what I can & give nothing back.... arghhh.....
  • #24,118
  • Mar 18, 2009 4:54pm Mar 18, 2009 4:54pm
Quoting joebryce
I sure wish I could decipher your language Bemac. I just know there is good stuff in there!
CLUE:
It's not My Language you have to decipher, It's ....
  • #24,119
  • Mar 18, 2009 5:22pm Mar 18, 2009 5:22pm
Quoting Bemac
CLUE:
It's not My Language you have to decipher, It's ....
My leige,
You are older & much much wiser.
I appreciate your kind hints & warnings. I am being light hearted after a good day.. The BIG thing I am still working on. controll emo..

Working out your language has nothing to do with it . I find your language easy to understand. Weather its the way you meant it or not I dont know.

After such days I used to trade on.. now I allways take a break. to regroup.
I have read many of your posts, gone by, & realize you most likely dont know me, so I would like to say I admire your wisdom & trading knowledge..
sorry for the suck up.. oh. shit I did it again...
  • #24,120
  • Mar 18, 2009 5:28pm Mar 18, 2009 5:28pm
Quoting rustyjeff
My leige,
You are older & much much wiser.
I appreciate your kind hints & warnings....
https://www.csn.ul.ie/~cheese/GsocSt..._this_post.jpg

Bemac rocks socks.
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