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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

  • #27,921
  • Apr 23, 2009 6:15pm Apr 23, 2009 6:15pm
Quoting raczekfx
don't be too hard on yourself. would you still be unhappy if a pip was worth $100 to you..?
... besides, you can double that on fiber now.....

Nice BUOB on the Euro, swing low, strong round number, 1.3000.

Let me guess, your long at 129.00?
Indicators show the past. Price Action "Indicates" the future.
  • #27,922
  • Edited Apr 24, 2009 4:05am Apr 23, 2009 7:01pm | Edited Apr 24, 2009 4:05am
Quoting jarroo
Nice BUOB on the Euro, swing low, strong round number, 1.3000.

Let me guess, your long at 129.00?
I was long at 129.60 but closed way too soon...
  • #27,923
  • Apr 23, 2009 7:01pm Apr 23, 2009 7:01pm
Quoting PipGator
I was looking at my IBFX feed and found a couple of interesting setups.

The USD/CAD that has been the recent buzz of this thread has formed a 2-day pinbar. It had a bounce of of the 1.25 PPZ and has fib confluence. As mentioned in a few posts, the region near 1.23 is an area of concern. Maybe an entry below 1.23 would be approproriate? As far as I am concerned, this setup is as valid as the pinbar we saw on the daily chart yesterday.

The USD/CHF has a BEOB near the swing high. It has pierced the PPZ near 1.17, which has proven to be an important...
Very nice PipG. I didn't like the view of a 2 Day PB, even though it might have been. I liked looking at it as a PB and IB at a swing high.

Quoting mbqb11
Hey Pip

One thing I am big on is size of bar. I like a bigger bar that shows some significance in terms of the "action" that took place that day. With that said, your analysis for anyone who believes this is worth trading is very good. If this is a retracement of that larger move down, then 1550 could be the trouble point and certainly the b/e point. Beyond that it is trading into the heavy PPZ at 1500.
Just my view

Mike
I never tire of Mike's analysis, because it always A+.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #27,924
  • Apr 23, 2009 7:06pm Apr 23, 2009 7:06pm
Quoting raczekfx
I was long at 128.60 but closed way too soon...
I though for sure that BUOB gave you confirmation of your entry.. Classic old school raczekfx.
Indicators show the past. Price Action "Indicates" the future.
  • #27,925
  • Apr 23, 2009 7:20pm Apr 23, 2009 7:20pm
Quoting jarroo
I though for sure that BUOB gave you confirmation of your entry.. Classic old school raczekfx.
I know... and it did, but I decided to take a day off today...
Looking to buy one of these.... Great hobby for the old man and boys.
  • #27,926
  • Apr 23, 2009 7:29pm Apr 23, 2009 7:29pm
Quoting raczekfx
I know... and it did, but I decided to take a day off today...
Looking to buy one of these.... Great hobby for the old man and boys.
Sweet. Looks like a lot fun.

I wonder if you could drop cherry bombs from those. lol
Indicators show the past. Price Action "Indicates" the future.
  • #27,927
  • Apr 23, 2009 7:33pm Apr 23, 2009 7:33pm
Any thought on this chart? I am looking at selling it possibly.
Attached Image (click to enlarge)
Click to Enlarge Name: eur chf.gif Size: 18 KB
"Luck favors the prepared mind"
  • #27,928
  • Apr 23, 2009 7:34pm Apr 23, 2009 7:34pm
Quoting raczekfx
I know... and it did, but I decided to take a day off today...
Looking to buy one of these.... Great hobby for the old man and boys.
Oh man... Lotsa fun. Someone sent a youtube link for a german scale C5 Galaxy the other day fricken awesome. Massive model. Four scale jet engines screaming away. lol
Bundy's status today: "Waiting..."
  • #27,929
  • Apr 23, 2009 7:36pm Apr 23, 2009 7:36pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I shorted both U/C and U/F, but, closed both before their breakdown, with tiny profit. guess what happened? previously, I would have enough of patience to hold position, but, recently,whenever I feel doult about anything, I close.

Let me tell you another story happened early of this week, I was Long A/U on H4 tf, a lot of profit, so, breakeven, I was thinking some rule - cut loss short, let profit run. what happened in the end of the day? got nothing.

the other day in this same week, Long at the breakup of BUOB of E/U, got some profit too, then breakeven, again, end of the day got nothing except seeing the price to shoot up.

very disappointing experience. but, I have to understand this is the reality one has to accept. the reason why we feel unhappy is we have too much illusion about trading in our mind.

I still feel dark when talking about belief of trading, simply could not get through the stage of breakeven. in any case, I have to finish the complete cycle as suggested by Jim. so, keep going.


Quoting hipcio
I feel a litle unhappy I got only 99 pps of that cake, what about coming back up?

Peter
  • #27,930
  • Apr 23, 2009 7:44pm Apr 23, 2009 7:44pm
JPA, I would take a look at the weekly before shorting, and come up with an objective R/R on that one given the underlying support.

Still holding the USDCAD shorts, as the weekly seems to show a trendline rejection...for the moment....awaiting a retest of the 1.2220.

Taking a hard look at the long side of USDJPY.
  • #27,931
  • Apr 23, 2009 7:50pm Apr 23, 2009 7:50pm
Quoting bundyraider
Oh man... Lotsa fun. Someone sent a youtube link for a german scale C5 Galaxy the other day fricken awesome. Massive model. Four scale jet engines screaming away. lol
Like this monster....?
  • #27,932
  • Apr 23, 2009 7:52pm Apr 23, 2009 7:52pm
Quoting Alexandra
JPA, I would take a look at the weekly before shorting, and come up with an objective R/R on that one given the underlying support.

Still holding the USDCAD shorts, as the weekly seems to show a trendline rejection...for the moment....awaiting a retest of the 1.2220
Thanks Alexandra,

I kinda felt like that was trading into a brick wall myself. Just wantd to see what others were doing with this one.

Jim
"Luck favors the prepared mind"
  • #27,933
  • Apr 23, 2009 7:57pm Apr 23, 2009 7:57pm
Quoting raczekfx
Like this monster....?
That is a KickAZZ RC plane. Talk about fun!
"Luck favors the prepared mind"
  • #27,934
  • Apr 23, 2009 8:09pm Apr 23, 2009 8:09pm
I have been lurking here for a couple months and posting infrequently but am really impressed with the information, knowledge and comradarie in this group. I will participate more actively in the future.

I have a question about how others manage your MT4 when watching multitudes of pairs for PA.

When watching 40-60 pairs, do you keep them all in one MT4 profile or divide them up into multiple profiles, perhaps by base currency, to make it more manageable?

I am increasing the number of pairs I watch, have everything in one profile now and easily get lost/confused in my old age.
"Money is easy to make, but hard to keep" - FWV 1975
  • #27,935
  • Apr 23, 2009 8:51pm Apr 23, 2009 8:51pm
Quoting krue
I shorted both U/C and U/F, but, closed both before their breakdown, with tiny profit. guess what happened? previously, I would have enough of patience to hold position, but, recently,whenever I feel doult about anything, I close.

Let me tell you another story happened early of this week, I was Long A/U on H4 tf, a lot of profit, so, breakeven, I was thinking some rule - cut loss short, let profit run. what happened in the end of the day? got nothing.

the other day in this same week, Long at the breakup of BUOB of E/U, got some profit too,...
Confidence in a quality A+ PA setup will come over time through repetition, back testing and study.

Demoing these trades over and over again it will soon start to sink in. It sound like your on the right path, krue. It does get easier as you put in the necessary time and practise. Keep it going.
Indicators show the past. Price Action "Indicates" the future.
  • #27,936
  • Apr 23, 2009 9:28pm Apr 23, 2009 9:28pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
yeah, jarroo, I understand which part of the game one has to challenge over time. we will see how the equity curve develops, I think we have enough of the technical information here, so, I will remain the confidence on the A+ setup. thanks a lot for the encourage.

Quoting jarroo
Confidence in a quality A+ PA setup will come over time through repetition, back testing and study.

Demoing these trades over and over again it will soon start to sink in. It sound like your on the right path, krue. It does get easier as you put in the necessary time and practise. Keep it going.
  • #27,937
  • Apr 23, 2009 11:07pm Apr 23, 2009 11:07pm
WOW! I thought my few indicators were confusing. Look at the charts on this page. http://www.forexfactory.com/showthre...0372&page=5938 Scary!!!
"Luck favors the prepared mind"
  • #27,938
  • Apr 23, 2009 11:14pm Apr 23, 2009 11:14pm
Quoting jpa0827
WOW! I thought my few indicators were confusing. Look at the charts on this page. http://www.forexfactory.com/showthre...0372&page=5938 Scary!!!
Charts? I don't see any charts but it does look as though someone had a blast with a few ETCHA-SKETCHES.....
Ghost Rider - WWTBMD?
  • #27,939
  • Apr 23, 2009 11:23pm Apr 23, 2009 11:23pm
Quoting albchr
Charts? I don't see any charts but it does look as though someone had a blast with a few ETCHA-SKETCHES.....
LOL When I saw these charts I just started laughing and shaking my head. I'm trying to convince this person to consider PA if they are struggling. I'm no master trader. I'm new at this, but I have had a major Ah Ha with PA and want to get others on the track.
"Luck favors the prepared mind"
  • #27,940
  • Apr 24, 2009 12:50am Apr 24, 2009 12:50am
Quoting krue
I shorted both U/C and U/F, but, closed both before their breakdown, with tiny profit. guess what happened? previously, I would have enough of patience to hold position, but, recently,whenever I feel doult about anything, I close.

Let me tell you another story happened early of this week, I was Long A/U on H4 tf, a lot of profit, so, breakeven, I was thinking some rule - cut loss short, let profit run. what happened in the end of the day? got nothing.

the other day in this same week, Long at the breakup of BUOB of E/U, got some profit too,...

Yes, keep going Krue!
I have to explain why I do feel unhappy about 99pps.

The problem is that I had very well established TP line, and if I did not get scared I would get my 130pps - what I planned, because the price went exactly where it shuld. I am too greed or too ...You know,
thats why I do not feel good with that trade.

I am really thankful for the ammount of pips and profit it's self.

Peter
Jesus Christ is my only Lord !
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