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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

  • #27,401
  • Apr 20, 2009 12:06am Apr 20, 2009 12:06am
Quoting pipmyride
Sorry - talking about this area
I see.

Could be a retrace to the entry and then continue on down or it could be going upwards with the Daily trend, which is in an uptrend. Hard to say.
Indicators show the past. Price Action "Indicates" the future.
  • #27,402
  • Apr 20, 2009 12:29am Apr 20, 2009 12:29am
Quoting raczekfx



My own price interpretation (a tribute to the great ancient empire of Rome) .... just treat it as H&S
I see. That's very clear now. Thanks, Rac.
  • #27,403
  • Apr 20, 2009 12:44am Apr 20, 2009 12:44am
Quoting G550
I see. That's very clear now. Thanks, Rac.
Sorry, couldn't resist.
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"The more I practice, the luckier I get." (Gary Player)
  • #27,404
  • Apr 20, 2009 12:58am Apr 20, 2009 12:58am
Here is a great site to look at...

http://www.fxwords.com/j/japanese-candlesticks.html
  • #27,405
  • Apr 20, 2009 1:10am Apr 20, 2009 1:10am
Looking good on the 2 Day BEOB.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,406
  • Apr 20, 2009 2:11am Apr 20, 2009 2:11am
Thanks for the responses Jaroo, and nicely executed, maybe in for a runner on that trade.
  • #27,407
  • Apr 20, 2009 2:15am Apr 20, 2009 2:15am
Quoting Mr Smith
Thanks for the responses Jaroo, and nicely executed, maybe in for a runner on that trade.
I'm sure even Mike (mbqb11) would have put this one in the "A" catagory. I was just cautious of a possible retrace.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,408
  • Apr 20, 2009 2:24am Apr 20, 2009 2:24am
Quoting jarroo
I'm sure even Mike (mbqb11) would have put this one in the "A" catagory. I was just cautious of a possible retrace.
Nice trade, I'm not in this one, but waiting for PA to show the way north. Coming up on some support.


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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #27,409
  • Apr 20, 2009 2:30am Apr 20, 2009 2:30am
Quoting LasVahGoose
Nice trade, I'm not in this one, but waiting for PA to show the way north. Coming up on some support.


I still like the 1.4600.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,410
  • Apr 20, 2009 2:35am Apr 20, 2009 2:35am
Quoting jarroo
I still like the 1.4600.
Hmmm.... How did I miss that? LOL, yeah that intersects the TL perfect.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #27,411
  • Apr 20, 2009 2:40am Apr 20, 2009 2:40am
I'm looking at EURCCK weekly BuOB. The spread is little bigger but on weekly TF it's ok. BuOB is at 50fib retrace + PPZ at 26.30 with potential target at 27.30 area. Do you think it's A setup or C?
alter
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  • #27,412
  • Apr 20, 2009 2:41am Apr 20, 2009 2:41am
Quoting LasVahGoose
Hmmm.... How did I miss that? LOL, yeah that intersects the TL perfect.
lol LVG. No one knows where Price will go. It may just form some bullish PA at this level, which would mean that the uptrend is continuing. But, as you said, we'll let PA show the way.
Indicators show the past. Price Action "Indicates" the future.
  • #27,413
  • Apr 20, 2009 2:46am Apr 20, 2009 2:46am
Quoting alter
I'm looking at EURCCK weekly BuOB. The spread is little bigger but on weekly TF it's ok. BuOB is at 50fib retrace + PPZ at 26.30 with potential target at 27.30 area. Do you think it's A setup or C?
alter
To much traffic alter. Pass on that one.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,414
  • Apr 20, 2009 2:51am Apr 20, 2009 2:51am
Quoting alter
I'm looking at EURCCK weekly BuOB. The spread is little bigger but on weekly TF it's ok. BuOB is at 50fib retrace + PPZ at 26.30 with potential target at 27.30 area. Do you think it's A setup or C?
alter
Check out the yellow circle BUOB or DBLHC. A lot less traffic on that one.
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Indicators show the past. Price Action "Indicates" the future.
  • #27,415
  • Apr 20, 2009 2:54am Apr 20, 2009 2:54am
Quoting jarroo
Looking good on the 2 Day BEOB.
Nice trade Jim

It sucks when one's talking abt a setup all weekend and then misses the train completely

What the hell do I do if the daily bar closes at 3 am for me lol!

I still woke up at abt 5 am to see the BEOB already pinned, 30 pips in favor of a "could be" trade lol!

The reason why I gave up the other 90 - 100 (first target was abt 130 pips away, i.e the 1.46ish level as Jim said) was that +30 was the the point where I had planned I would movee my stop to BE. So from here if price would had decided to turn bullish out of nowhere the worst would have been a BE.

Trying to chase trades was one of my biggest weakness. Had I been the same as 6 months ago I would have taken this trade 30 pips late (and not even waited to atleast wait for a pullback to the actual entry point). This is probably not the best time to throw this post up as pound has dropped like hell lol! But I am happy to have followed my rules, on another occasion I would have been sitting on my buts at -80 while Ya'll would have atleast managed a BE (those who would have moved thier stop to BE at +30)

That said, trade well taken as always Jim

Regards,
Ghous.
I believe . . .
  • #27,416
  • Apr 20, 2009 3:02am Apr 20, 2009 3:02am
half at 4hr TL - moved stop up tight incase we get a bounce for the 2nd half

if it breaks the TL and the 365 and 150emas i am adding back
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  • #27,417
  • Apr 20, 2009 3:06am Apr 20, 2009 3:06am
Quoting ghous
Trying to chase trades was one of my biggest weakness. Had I been the same as 6 months ago I would have taken this trade 30 pips late (and not even waited to atleast wait for a pullback to the actual entry point). This is probably not the best time to throw this post up as pound has dropped like hell lol! But I am happy to have followed my rules, on another occasion I would have been sitting on my buts at -80 while Ya'll would have atleast managed a BE (those who would have moved thier stop to BE at +30)

That said, trade well...
I understand all to well ghous. I think posts like that can't be posted enough, to rote it in to people the importance of not chasing trades. I'm sure the big guy (James16) would say its a sign of trading maturity. Just wish I learned that when I was 19 instead of in my 40's. lol

Wait a mintue . . I didn't start trading until I was in my 40's.
You get my point.
Indicators show the past. Price Action "Indicates" the future.
  • #27,418
  • Apr 20, 2009 3:08am Apr 20, 2009 3:08am
Quoting jarroo
I understand all to well ghous. I think posts like that can't be posted enough, to rote it in to people the importance of not chasing trades. I'm sure the big guy (James16) would say its a sign of trading maturity. Just wish I learned that when I was 19 instead of in my 40's. lol

Wait a mintue . . I didn't start trading until I was in my 40's.
You get my point.
I do. Thanx
I believe . . .
  • #27,419
  • Apr 20, 2009 3:13am Apr 20, 2009 3:13am
Quoting jarroo
To much traffic alter. Pass on that one.
So the traffic is more important then PPZ+fib confluence?
I found that there is always traffic unless I trade extreme high or extreme low as BuOB you have shown. Unfortunatelly these trades are very rare .
  • #27,420
  • Apr 20, 2009 3:14am Apr 20, 2009 3:14am
Quoting alter
So the traffic is more important then PPZ+fib confluence?
I found that there is always traffic unless I trade extreme high or extreme low as BuOB you have shown. Unfortunatelly these trades are very rare .
Welcome to the club alter. You just hit the nail on the head.
Indicators show the past. Price Action "Indicates" the future.
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