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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

  • #29,941
  • May 13, 2009 8:50pm May 13, 2009 8:50pm
short 95.65 dollar yen based off the monthly chart maybe someone would like to post a chart? peace 59
  • #29,942
  • May 13, 2009 9:06pm May 13, 2009 9:06pm
Nice work on the EUR and USDCHF group above....the dailies are so strong that those 4-hour supportive charts are worth a look...

indeed....you guys always want to sell me USDJPY! Wonderful!
  • #29,943
  • Edited 9:38pm May 13, 2009 9:07pm | Edited 9:38pm
To bad I don't like the required distance for Monthly chart trades. 3rd LEG Down could bring us to LOW from 1995. Going to enter this on my demo platform to see how it turns out.
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  • #29,944
  • May 13, 2009 9:09pm May 13, 2009 9:09pm
They all closed as pinbars but IMO only the eur/gbp would be tradable, it has also daily PPZ support and no conflicting daily PA as the eur/usd and usd/chf both do have.

Quoting Alexandra
Nice work on the EUR and USDCHF group above....the dailies are so strong that those 4-hour supportive charts are worth a look...

indeed....you guys always want to sell me USDJPY! Wonderful!
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  • #29,945
  • May 13, 2009 9:17pm May 13, 2009 9:17pm
Yes - well said - I like that approach technically, although my read of USDCHF remaining below daily support bears on my assessment of EURUSD as well. So far there is little follow through to a daily reversal.
.
  • #29,946
  • May 13, 2009 9:26pm May 13, 2009 9:26pm
keep in mind this has not closed small positions are reccomended
  • #29,947
  • May 13, 2009 9:27pm May 13, 2009 9:27pm
also thanks for the chart! see ya on the down low!
  • #29,948
  • May 13, 2009 9:29pm May 13, 2009 9:29pm
Someone find me a Loonie PB so I can sell it.....please!
  • #29,949
  • May 13, 2009 9:36pm May 13, 2009 9:36pm
On the daily a broken 2 day bullish pinbar IMO no sell even though 4hr looks interesting.

Quoting Alexandra
Someone find me a Loonie PB so I can sell it.....please!
  • #29,950
  • May 13, 2009 9:40pm May 13, 2009 9:40pm
LOL - okay - time will tell...well actually the PA will tell (I hope!). Honestly, I am not a fan of the orchestrated PB. Apparently I am not a fan of much! (Except the daily chart)
  • #29,951
  • May 13, 2009 9:42pm May 13, 2009 9:42pm
scott087,
i posted this late April. u must've overlooked it. or have u seen it already?
1 video regarding Mike's 2-bar stop, in the PF's guest area.
  • #29,952
  • May 13, 2009 9:58pm May 13, 2009 9:58pm
This is a Daily trade that I am interested in taking. I would appreciate it if I could get some feedback of what others think the quality of this trade is.

Here are the Pro's that I see

1.) Location- 61.8 Fib retrace weekly which I would consider an PPZ to sell in
2.) Chart Pattern- Sort of an ugly triple top
3.) Divergence- Yes
4.) PA- Decent Sized BEOVB

Con's

1.) Trading into heavy traffic
2.) Strong Support 30-40 pips below daily break.
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  • #29,953
  • May 13, 2009 10:14pm May 13, 2009 10:14pm
Quoting Rosco_P
4.) PA- Decent Sized BEOVB

Con's

1.) Trading into heavy traffic
2.) Strong Support 30-40 pips below daily break.

Hey Rosco

I think your cons really speak for this trade. The BEOB isn't really all that big IMO and it almost has a neutral feel to it. Support is coming up real close on a very choppy pair in general. Most brokers are not to great with spreads on this pair either, making enough road blocks in the way as is.

I never tell people to or not to trade anything though so just my opinion

Mike
  • #29,954
  • May 13, 2009 10:29pm May 13, 2009 10:29pm
Here is a fairly neat looking BEOB for the aussie which I am targeting to the 50 fib and past resistance, notice where the 365 ema is located
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Without women, money would have no meaning - Aristotle Onassis
  • #29,955
  • May 13, 2009 10:33pm May 13, 2009 10:33pm
Thanks for the quick response.
  • #29,956
  • May 13, 2009 10:43pm May 13, 2009 10:43pm
Quoting jarroo
Some good talk about the Aussie tonight/morning. Looks real good. I like the confluences of potential resistence at the previous bar Low, .7560ish level. (61.80Fib and 150EMA) Beside a hard break of the BEOB, a hard break of the .7500 will also provide good confirmation.

Nice one guys.

Looking at my own charts now the break of the BEOB and the .7500 are the same.
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Indicators show the past. Price Action "Indicates" the future.
  • #29,957
  • May 13, 2009 11:02pm May 13, 2009 11:02pm
seems everyone is talking about this audusd trade, just wanted to post a chart as well....interested in seeing how the day closes, would like to see a close below 0.74 area
trade wisely guys
cheers
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Simplicity is the key to success
  • #29,958
  • May 13, 2009 11:16pm May 13, 2009 11:16pm

Quoting squeezy
seems everyone is talking about this audusd trade, just wanted to post a chart as well....interested in seeing how the day closes, would like to see a close below 0.74 area

Quoting squeezy
trade wisely guys
cheers
Yeh I'm on the bandwagon too.
Sell at 7485 try to get a good break of bar and 7500.
Set my TP at 7340 but thinking 1/2 off around the 7400 would be a good idea. (thanks jaroo and squeezy)
Just noticed the difference in the 365ema between our charts and mattfx chart... weekend bars do make a difference!!

Cheers, Gov
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  • #29,959
  • May 13, 2009 11:24pm May 13, 2009 11:24pm
Hmmmm.... I can't decide, take the break or wait for PA to form at the retrace around 50% or 61.8% Fib. and go long.... Daily Trend has been UP for 50 days or so.... Or do both?


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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #29,960
  • May 13, 2009 11:32pm May 13, 2009 11:32pm
Quoting LasVahGoose
Hmmmm.... I can't decide, take the break or wait for PA to form at the retrace around 50% or 61.8% Fib. and go long.... Daily Trend has been UP for 50 days or so.... Or do both?


It's funny you should say that.
I've been sitting here this morning (oz) wondering whether its going to stay in the range 77-75 or what.
In the end it was the simple fact for me to use the current PA.
If it doesn't work this way I'll be looking for next option.

Gov
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