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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

  • #28,521
  • Apr 29, 2009 2:41am Apr 29, 2009 2:41am
GM guys,
sorry is it dis 4h eurjpy pin u guys r talking about
size of pin could be better,apart from dat i like other things imo
in terms of confluence...apart from the trendline being talked about
i see divergence, 50 ema, ppz & i think 61.8 ret
im i seeing the right thing guys
Simplicity is the key to success
  • #28,522
  • Apr 29, 2009 2:44am Apr 29, 2009 2:44am
Does anyone see a bullish breakout of a wedge formation (IBs) on the daily or is it just me? Can't post a chart, sorry.
  • #28,523
  • Apr 29, 2009 2:46am Apr 29, 2009 2:46am
Quoting squeezy
GM guys,
sorry is it dis 4h eurjpy pin u guys r talking about
size of pin could be better,apart from dat i like other things imo
in terms of confluence...apart from the trendline being talked about
i see divergence, 50 ema, ppz & i think 61.8 ret
im i seeing the right thing guys
It was the Daily Eur/Jpy from Siam and scott a few posts back.

http://www.forexfactory.com/showpost...ostcount=28486

http://www.forexfactory.com/showpost...ostcount=28502
Indicators show the past. Price Action "Indicates" the future.
  • #28,524
  • Apr 29, 2009 2:48am Apr 29, 2009 2:48am
sorry forgot chart
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Simplicity is the key to success
  • #28,525
  • Apr 29, 2009 2:56am Apr 29, 2009 2:56am
[quote= jarroo; (I do tend to speak/write incoherently at sometimes. lol)
[/quote]

this is a classic...sorry jarroo
PATIENCE... DISCIPLINE
  • #28,526
  • Apr 29, 2009 3:01am Apr 29, 2009 3:01am
Quoting g_j_hook@yah
this is a classic...sorry jarroo
Glad I could give a chuckle g_j_ so early in the morning. lol

Wait a minute . . Netherlands . . what time is that?

10:02 AM
Indicators show the past. Price Action "Indicates" the future.
  • #28,527
  • Apr 29, 2009 3:03am Apr 29, 2009 3:03am
Quoting squeezy
sorry forgot chart
i have strong res. there on my chart also but no pins. what my feed is showing is a possible 8h pin forming.but again a have 2h till the bar closes
will be watching this also
jon
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PATIENCE... DISCIPLINE
  • #28,528
  • Apr 29, 2009 3:04am Apr 29, 2009 3:04am
Quoting jarroo
Glad I could give a chuckle g_j_ so early in the morning. lol

Wait a minute . . Netherlands . . what time is that?

10:02 AM
right now its 10:03 am...just about breakfast time!!!thanx for the reminder
PATIENCE... DISCIPLINE
  • #28,529
  • Apr 29, 2009 3:22am Apr 29, 2009 3:22am
Quoting g_j_hook@yah
right now its 10:03 am...just about breakfast time!!!thanx for the reminder

just went through ur profile & saw dis, cracked me up
if only hook, if only......lol
Preferred Trading Strategy/System(s) wait for price to go up, and buy the day before!!
Simplicity is the key to success
  • #28,530
  • Apr 29, 2009 3:29am Apr 29, 2009 3:29am
Quoting squeezy
just went through ur profile & saw dis, cracked me up
if only hook, if only......lol
Preferred Trading Strategy/System(s) wait for price to go up, and buy the day before!!
failing that i get my guitar and give my chart a good blast of neil young...never fails!!
PATIENCE... DISCIPLINE
  • #28,531
  • Apr 29, 2009 3:39am Apr 29, 2009 3:39am
Hello folks

I'm new in this thread and as first I want say thanks for sharing your minds!
I trade on 5M/15MTF but by reading this theard I decided switch to higher TF (4H) because signals are much clearer and It's need less spending of time.

Today I took AUDCAD short at 0,8661(61,8 fibo of previous bar which is PB)
In addition there is role reversal, it means that previous support level become to resistance.
There is LH (lower high) and LL (lower low), so clear down trend.
There is only one problem, market can go higher for touching a down trend line and then go short.
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  • #28,532
  • Apr 29, 2009 3:40am Apr 29, 2009 3:40am
Quoting g_j_hook@yah
failing that i get my guitar and give my chart a good blast of neil young...never fails!!
I love neil young . decade, havest moon, good stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #28,533
  • Apr 29, 2009 3:52am Apr 29, 2009 3:52am
Quoting jarroo
I love neil young . decade, havest moon, good stuff.
And I LOVE playing guitar! ...Nice one G.J. !
Bundy's status today: "Waiting..."
  • #28,534
  • Apr 29, 2009 4:24am Apr 29, 2009 4:24am
Quoting bundyraider
And I LOVE playing guitar! ...Nice one G.J. !
This is all too funny...... I LEARNED to play guitar on Neil Young tunes...
Ghost Rider - WWTBMD?
  • #28,535
  • Apr 29, 2009 4:34am Apr 29, 2009 4:34am
Quoting raczekfx
nice catch. question is:
what you do with it if you're long?
1. take some profit.
2. go long again on daily pb break
3. watch all your gains evaporate should yen decided to test 124 again ?
.
Do you check correlated pair(s) for extra clues in situations like that?
One Chart is Worth Ten Thousand Words.
  • #28,536
  • Apr 29, 2009 4:45am Apr 29, 2009 4:45am
WOW!!!! mr young is my hero!! his guitar work is unriveled
i didnt know we had a fan club right here on the thread........
i think i might start a thread on neil young trading techniques!! I know for a fact eu/us love needle and the damage done!! wach price if you dont believe me, i ll play it now!!
hehe
jon.
p.s. im actually thinking of posting a coulple of vids on utube as im pretty distressed about the poor attempts to play his stuff!! its an insult to pretend these songs are being played well!! ......ok rant over.
p.s. yen shorts.... nice
EDIT: dont worry if your long on the eu/us ill keep playing it till it reaches 133. then its down to you!!lol
PATIENCE... DISCIPLINE
  • #28,537
  • Apr 29, 2009 4:52am Apr 29, 2009 4:52am
Quoting jarroo
I love neil young . decade, havest moon, good stuff.
If you like Neil check this action out.
What a great sound.
"The more I practice, the luckier I get." (Gary Player)
  • #28,538
  • Apr 29, 2009 5:00am Apr 29, 2009 5:00am
how is everyone's trading ?
sure u guys r making some nice pips
at the end of the tunnel, theres light...thank GOD i bliv im seeing the light, still need some fine tuning...
dnt want to bore u guys too much, jst wanted to post and waste space
happy trading to all
Simplicity is the key to success
  • #28,539
  • Apr 29, 2009 5:10am Apr 29, 2009 5:10am
Quoting mrsingha
If you like Neil check this action out.
What a great sound.
yeah ..i love it!! one of my favs!!
cowgirl in the sand (acustic version) is my current fav. used to have it on utube also but i cant find it these days!!??
PATIENCE... DISCIPLINE
  • #28,540
  • Apr 29, 2009 5:37am Apr 29, 2009 5:37am
Quoting jarroo
No problem Dan. Sorry I wasn't clear enough (I do tend to speak/write incoherently at sometimes. lol)

My initial stop loss is 30-40 pips away, not at the top/bottom of the given PA setup.

Now if its an A++ trade, James16 posts the setup in bold letters, Mike is on the radio talking about it, etc. Meaning it is standing out as an A+ setup, I'll give more leeway to it on my stop loss placement but it will be on the 2nd half of my position. The 1st half will be in the bank with a good amount of pips.
Thanks again, Jarroo - perfectly clear to me now! I like your stop strategy; it gives me more confidence in the strategy I am using (which is very similar)!

I always used to put my stop at the top of the setup but as has been mentioned here before, often a very good setup will result in a very quick and clean break, so a tight stop works out just fine.

Thanks & regards,
Dan
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