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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

  • #27,601
  • Apr 21, 2009 10:28am Apr 21, 2009 10:28am
Quoting dkmb92
bepb forming on u/cad at swing high & rd# ppz 1.24 in direction of current trend. beob forming on eur/aud at swing high & rd# ppz of 1.85 in direction of current trend. lets see how these lead into the close of the daily. (funny, these are the 2 trades i took last week).
u/cad looks for me as a retrace on a way up
but of course I can be wrong
Peter
Jesus Christ is my only Lord !
  • #27,602
  • Apr 21, 2009 10:28am Apr 21, 2009 10:28am
Quoting rikrok
G'day all,
I've been here in the background, reading the thread since late last year to begin to get up to speed, sorry not to have said introduced myself sooner.

Anyway, after spending some time trading with mixed success, I've now taken the plunge, set aside my live accounts in order to demo on J16's terms (daily PA set ups, like a sniper 3 months of profitable demo before going live) and I have joined the PF.

I hope to post with any occasional set ups I come across from time to time. My time is limited so I will be taking as long as it takes...
Welcome Rik

Definitely jump in and get involved. This is one place where no one is going to judge you. Or those that do are short lived until we get the mighty twee on them!

Take care

Mike
  • #27,603
  • Apr 21, 2009 10:33am Apr 21, 2009 10:33am
Quoting simoncs
just closed my gbpjpy long from the confluence as it hit the 150 and 38 fib. wasn't expecting this retrace till tomorrow but hey ho.

I'm sure it will go higher now if it gets to the 50fib will be looking to short again


ahh - will post chart in a mo - pc throwing a tantrum

well on ur 50 fib is a strong resistance too , i'm looking forward whit a short if it will reach that level .
  • #27,604
  • Apr 21, 2009 10:52am Apr 21, 2009 10:52am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I was stopped out by its left eye, and similar situation with g/u. but, I jumped in seeing g/j of buob, still holding position, target at 146.5, will see if it has enough of energy going there.

let's watch out u/c how it will close. I guess it might be one of bundy's favorite if my observation didn't make misjudgement.



Quoting simoncs
just closed my gbpjpy long from the confluence as it hit the 150 and 38 fib. wasn't expecting this retrace till tomorrow but hey ho.

I'm sure it will go higher now if it gets to the 50fib will be looking to short again


ahh - will post chart in a mo - pc throwing a tantrum
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  • #27,605
  • Apr 21, 2009 10:53am Apr 21, 2009 10:53am
Quoting CrankDOX
well on ur 50 fib is a strong resistance too , i'm looking forward whit a short if it will reach that level .
yup another good confluence area -fib/ppz/rnd no.
  • #27,606
  • Apr 21, 2009 11:01am Apr 21, 2009 11:01am
hey does anyone consider Usd/cad being 'rejected' by trendline at 1.24? or is it a retracement, I have a hard time deciding whether I should be going with trend or against it.

To me the trend seems to be up, but large trend is down. help appreciated thx
  • #27,607
  • Apr 21, 2009 11:04am Apr 21, 2009 11:04am
BUOB on 4h on swing low but against the trend....
What do you guys think?
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  • #27,608
  • Apr 21, 2009 11:06am Apr 21, 2009 11:06am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
sometimes, trendline makes perfect kiss, other time, stops your confidence out, very tricky tool, have to say.
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  • #27,609
  • Apr 21, 2009 11:09am Apr 21, 2009 11:09am
about to go down now?
Attached Image
WARNING: Don't follow me as I'm just learning
  • #27,610
  • Apr 21, 2009 11:11am Apr 21, 2009 11:11am
Quoting nooblaster
hey does anyone consider Usd/cad being 'rejected' by trendline at 1.24? or is it a retracement, I have a hard time deciding whether I should be going with trend or against it.

To me the trend seems to be up, but large trend is down. help appreciated thx
I don't know anything about trendlines, but heres why I think it stopped.

PPZ
Round Number

And you could probably throw in the
50Fib
and the Trendline as well.

If in doubt - stay out

Quoting psneto
BUOB on 4h on swing low but against the trend....
What do you guys think?
Trading back up into the 1.30, careful with that one.
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  • #27,611
  • Apr 21, 2009 11:20am Apr 21, 2009 11:20am
Quoting Jigsaw
I don't know anything about trendlines, but heres why I think it stopped.

PPZ
Round Number

And you could probably throw in the
50Fib
and the Trendline as well.

If in doubt - stay out



Trading back up into the 1.30, careful with that one.
thanks Jigsaw
  • #27,612
  • Apr 21, 2009 11:31am Apr 21, 2009 11:31am
Quoting hipcio
u/cad looks for me as a retrace on a way up
but of course I can be wrong
Peter
Great setups don't know what the trend is...price will mostly give you the pips via A+ setups and move on...
I believe . . .
  • #27,613
  • Apr 21, 2009 11:38am Apr 21, 2009 11:38am
Quoting ghous
Great setups don't know what the trend is...price will mostly give you the pips via A+ setups and move on...
Testify brother !
  • #27,614
  • Apr 21, 2009 12:06pm Apr 21, 2009 12:06pm
This are the setups I wait for all week....even months. Even my grandma would sell this puppy if she traded lol

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  • #27,615
  • Apr 21, 2009 12:15pm Apr 21, 2009 12:15pm
What's everyone thinking about the entry on the USD/Cad? waiting for 50% retrace of PB or you think it is going lower w/o retrace. Any opinions appreciated

Jim
"Luck favors the prepared mind"
  • #27,616
  • Apr 21, 2009 12:18pm Apr 21, 2009 12:18pm
Quoting Shermenator
This are the setups I wait for all week....even months. Even my grandma would sell this puppy if she traded lol

Attachment
Gotta love the EURCAD!
  • #27,617
  • Apr 21, 2009 12:20pm Apr 21, 2009 12:20pm
Quoting RedCabbage
Gotta love the EURCAD!
Yep my sell stop on that pin bar is on already...Just loving it

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  • #27,618
  • Apr 21, 2009 12:21pm Apr 21, 2009 12:21pm
Quoting jpa0827
What's everyone thinking about the entry on the USD/Cad? waiting for 50% retrace of PB or you think it is going lower w/o retrace. Any opinions appreciated

Jim
I'd go with a pending order 10 pips below the low of the Pin bar.

I like to play rerace entries when a PA setup "pokes" out of a ppz or a round number in which case the price pulling back to the ppz/round number to confirm it's break is a logical entry point.
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I believe . . .
  • #27,619
  • Apr 21, 2009 12:23pm Apr 21, 2009 12:23pm
Quoting RedCabbage
Gotta love the EURCAD!
Are the EUR crosses generally smoother and easier to trade than USD base?
WARNING: Don't follow me as I'm just learning
  • #27,620
  • Apr 21, 2009 12:26pm Apr 21, 2009 12:26pm
Quoting ghous
I'd go with a pending order 10 pips below the low of the Pin bar.

I like to play rerace entries when a PA setup "pokes" out of a ppz or a round number in which case the price pulling back to the ppz/round number to confirm it's break is a logical entry point.
Hey Ghous,

Do you think the EUR/CAD looks better? Or are they basically the same trade? I'm a rookie as you probably can see lol.

Jim
"Luck favors the prepared mind"
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