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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

  • #28,261
  • Apr 27, 2009 4:31pm Apr 27, 2009 4:31pm
ayaz,
finally... got a valid chance to reply to u. vrooom vroooom, love your avatar. do u have a porsche?

Sorry for the confusion (haven't slept yet; it's 5.30AM here in the Philippines) & thanks for pointing that out. I misstyped; H1 PB should have been Daily PB. I have edited that post.

btw, that's just a mediocre advice. many traders can repeat my post on their own &with better clarity. excellent advice, the 1 i always try to look forward to, is from the heavy hitters/long-time snipers


going back to gj, Goozman, u mentioned 142 as a PPZ. that should warn u of a possible near-term resistance area.
  • #28,262
  • Apr 27, 2009 4:35pm Apr 27, 2009 4:35pm
Quoting supremeChaos
Greetings TotalNewbie!
I'm no big hitter but i can share some thoughts....

.
This is what I like the most about this thread. Ppl are genuinely helpful to those who are starting to climb the slippery slope of FX trading. I liked the PA and the area it was in but, given the SL I would need, I'll watch this from the sidelines. Thanks supremeChaos .
  • #28,263
  • Apr 27, 2009 4:39pm Apr 27, 2009 4:39pm
Hi All...

Is anyone else having problems when they try to click on a picture to enlarge it? My screen goes gray and the picture won't enlarge. This just started happening a few days ago.

Sorry for the DA question in the middle of such a great thread.
  • #28,264
  • Apr 27, 2009 4:43pm Apr 27, 2009 4:43pm
mseaz9,
to indulge u with a short answer:
read back on the thread, read post #1 &/or search for "Price action setups" (in PDF form).

PB (abbreviation for Pinocchio bar/pin bar; "almost" similar to the japanese candlesticks' DOJI) is a candle/bar with a long "nose" & preferably identical open & close (better if close is lower than the open, for bearish PB; better if close is higher than the open, for bullish PB). further details on the "Price action setups" PDF.
  • #28,265
  • Apr 27, 2009 4:47pm Apr 27, 2009 4:47pm
ozziedave,
am also encountering that too. u can just simply ignore this & re-click on the small picture that will appear, then it will automatically open the picture (in Firefox, it will open in a new tab).

On mine, when i click on a picture, the screen goes black, then a small picture will appear. i just click on that small picture or alternatively, right-click on it. This will open the picture in the way that we usually see it.

Nothing biggie
  • #28,266
  • Apr 27, 2009 5:00pm Apr 27, 2009 5:00pm
hi guys..I see a pin bar on the daily gbp/jap
  • #28,267
  • Apr 27, 2009 5:06pm Apr 27, 2009 5:06pm
Quoting TotalNewbie
This is what I like the most about this thread. Ppl are genuinely helpful to those who are starting to climb the slippery slope of FX trading. I liked the PA and the area it was in but, given the SL I would need, I'll watch this from the sidelines. Thanks supremeChaos .
Like everyone, YOU are welcome.

Hey, we are all climbing this Mt. Everest together. There are perks & perils in this FX Trading Mountain. Others before me, those in "Camp 3 & Camp 4" (near the peak; the long-time SNIPERS) have helped me climbed & are helping me climb, i'm just doing the same. If we help each other, the climb gets a little bit easier. If we deny others of assistance & try to climb on our own, our chances of getting to the peak & back is drastically reduced. If other traders need extra help, there is BC (Base camp; in this case, re-reading the whole thread or just the important points) to get back to.

Hope u understand my analogy. Please indulge this aspiring Everest summitteer.



my reminder to others: People should just be patient in waiting for answers as not everyone is online all the time. & NO REPLY to your questions/posts does not mean your Q or post is not important. it may simply be that no one is online to answer your post; no1 competent is available to answer; everyone is busy; your post/question is vague/with few details; your post get sidelined due to many subsequent/upcoming barrage of posts (many traders post AT THE SAME TIME, putting your post 1, 2, 3 or more pages behind) &/or the answer to your post/question is easy/under your nose & u just have to be self-reliant enough to find it yourself.
  • #28,268
  • Apr 27, 2009 5:09pm Apr 27, 2009 5:09pm
StarChild,
Pls. refer to the previous posts regarding gj.



signing off for now. it's past 6AM here (5PM? EST DST/ 22.00?GMT)
Good luck all!
  • #28,269
  • Apr 27, 2009 5:13pm Apr 27, 2009 5:13pm
what do you guys think of this one??
i think its a BIG spread!! lol
Attached Image (click to enlarge)
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PATIENCE... DISCIPLINE
  • #28,270
  • Apr 27, 2009 5:13pm Apr 27, 2009 5:13pm
Quoting StarChild
hi guys..I see a pin bar on the daily gbp/jap
Wick too short for me.
Still more than 5 hours to close the bar.
Attached Image (click to enlarge)
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Trading: the skill of avoiding trades
  • #28,271
  • Apr 27, 2009 5:23pm Apr 27, 2009 5:23pm
Quoting eswap0
Wick too short for me.
Still more than 5 hours to close the bar.
I agree but man do you have a late daily close
  • #28,272
  • Apr 27, 2009 5:33pm Apr 27, 2009 5:33pm
Quoting mbqb11
I agree but man do you have a late daily close
Isn't it normal?
Closing at 23:59 US Eastern
My broker is IB...
Trading: the skill of avoiding trades
  • #28,273
  • Apr 27, 2009 5:47pm Apr 27, 2009 5:47pm
I like this Silver Pin of today.

It has some things going for it such as it has pierced the 50% Fib of the recent down move and now settled around 38.2% so if the Pin breaks we could be looking at the 23.6% level.

On the other hand it sits right above the EMA(150) which might be a problem and the blue PPZ area around 12.60...

Quoting fxprocessor
Watching....
Attached Image (click to enlarge)
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  • #28,274
  • Apr 27, 2009 6:05pm Apr 27, 2009 6:05pm
Quoting eswap0
Isn't it normal?
Closing at 23:59 US Eastern
My broker is IB...
I mean there is no "official" close. But I think most people tend to have a close more near 5pm est as this is closer to the NY closing time. Again though whatever you are comfortable with. I just wouldn't want my daily bar to have Asia/Australia filled in it

Best
Mike
  • #28,275
  • Apr 27, 2009 6:34pm Apr 27, 2009 6:34pm
Quoting mbqb11
I mean there is no "official" close. But I think most people tend to have a close more near 5pm est as this is closer to the NY closing time. Again though whatever you are comfortable with. I just wouldn't want my daily bar to have Asia/Australia filled in it

Best
Mike
Frankly speaking, I didn't know I could change it.
As I am living in Europe sometimes I wake up at 05:45 to check the daily close, before going to work.
By the way, my wife thinks I am stupid, sometimes.
Did you trade anything this morning? No
Then, why did you wake up so early?
Trading: the skill of avoiding trades
  • #28,276
  • Apr 27, 2009 6:45pm Apr 27, 2009 6:45pm
Quoting daveadamsbds
http://www.dailyfx.com/export/sites/...ohn_Rivera.gif


Dollar, Yen Find Support On 'Swine Flu' Pandemic Fears, Adding To Concerns Over Bank Stress Tests

[b][font=Arial]The Yen has been the main story overnight as the currency has re-established its safe-haven status with the potential “swine flu” pandemic sending cautious investors to the sidelines. The fact that the health concerns are based in the Western hemisphere...
I couldn/t believe one can write such a nonsense, but hey-ho if you look around and start to read "analytical" columns after one attempt you should bin it. "Swine flu" is an answer for price movements today?
For me it would be like rather the fact that S&P500 index closed last week with a hanging man pattern after 6 consecutive weeks of a constant growth and it's ready for some retracement (if not test of the previous bottom)
Here is a chart to look at:
Attached Image (click to enlarge)
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I don't ignore swine flu (cause it still may become a big problem) but it would have to be a massive event with thousands of casualties to cause the havoc. What a bull...t !!!
I've also heard that analysts are mostly failed or wannabe traders who can't make money out of markets other than writting about what already has happened
  • #28,277
  • Apr 27, 2009 7:17pm Apr 27, 2009 7:17pm
Anyone still holding the EUR/USD short? I am currently, just to see if we can get through 1.3000. Short one lot at 1.3230. I am a happy camper here.
"Luck favors the prepared mind"
  • #28,278
  • Apr 27, 2009 7:33pm Apr 27, 2009 7:33pm
Quoting sonicdeejay
Abit late to go Long...I must say... Many overhead await.....1.337x level

Carefull on Monday...If we have an unusual run up during Asian session...it it likly DOWN when euro come in....

http://www.forexfactory.com/attachme...1&d=1240650789


Sonic

We have Bearish Engulfing....in D1 TF for EUR/USD...
  • #28,279
  • Apr 27, 2009 7:53pm Apr 27, 2009 7:53pm
Quoting eswap0
Isn't it normal?
Closing at 23:59 US Eastern
My broker is IB...
I use IB as broker also, but I hate their charts.

I use FXPro demo account for charting and closing time appears to be GMT +2 or something close to that.
"Money is easy to make, but hard to keep" - FWV 1975
  • #28,280
  • Apr 27, 2009 8:29pm Apr 27, 2009 8:29pm
Quoting Schneeule
Better something than nothing
I like his books but I don't know anyone who read them. So I will count you as 1st one

I can recommend "Thus Spoke Zarathustra" by Friedrich Nietzsche, but beware, parts of it will/may take 2 - 3 readings, maybe more.

I read it twice and still...... on much of it. It is much a study of his own life and overcoming his self. One of his best comments on self, I felt was in to truly become yourself you must first study all the masters but in the end reject them in order to become your own master.

But I warn you it can be a tough read.

And no I didn't read in German, so I'm sure I missed some of the more subtle nuances. - for the purists out there.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
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