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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

  • #30,121
  • May 15, 2009 2:06am May 15, 2009 2:06am
Quoting Encino1
hi all....
I disagree there is a stonger PPZ around 7700, can be clearly seen on daily and weekly. That's why price has created a double top on 4hr and is making lower highs/lows now.
Economists have forecast 9 out of the last 5 recessions
  • #30,122
  • May 15, 2009 2:08am May 15, 2009 2:08am
i am posting here now after a long time just because its the 2009th page of this thread, and its 2009 now!!

it wont ever be like that cause i guess in 10 minutes it will get to 2010 but there are still 7 months for this year to end..
SO......


GO GO JAMES16 Chart Thread


;-)



edit: and my post is 3rd on this page , you know why? 15th of may.. = = >> 15/5=3!!!


its all written....

LOL
  • #30,123
  • May 15, 2009 2:10am May 15, 2009 2:10am
Quoting Meum
Ya, I'm seeing much the same thing here. Alexandra I think is looking at this much the same also - current trend is up. I would look at a dive to the 7400 level as a nice opportunity to get long. I was wondering Alexandra, where do you get the 7970 number from? Could you post a chart?

That is a rough estimate of the predicted movement off of the weekly double bottom. There is a 50 fibo in that area as well.
  • #30,124
  • May 15, 2009 2:25am May 15, 2009 2:25am
Quoting Alexandra
That is a rough estimate of the predicted movement off of the weekly double bottom. There is a 50 fibo in that area as well.
I'm playing the AU off the daily chart, as are most I think as the BEOB was on the daily. There maybe be a weekly move up but daily could move 500 down in a retrace. Maybe Jackos method would be more suited to looking at multiple timeframes for bias?
Economists have forecast 9 out of the last 5 recessions
  • #30,125
  • May 15, 2009 2:37am May 15, 2009 2:37am
Quote
I disagree there is a stonger PPZ around 7700, can be clearly seen on daily and weekly. That's why price has created a double top on 4hr and is making lower highs/lows now.
thats true but the 7500 level has a lot of history also. one reason i liked this setup was because the break was also breaking that level.

Quote
I'm playing the AU off the daily chart, as are most I think as the BEOB was on the daily. There maybe be a weekly move up but daily could move 500 down in a retrace.
good point iv brought my stop to .7625. and dumped a part of the position at a loss this morning at around todays lows.if it does go our way there might be a chance to load up again??

Quote
That is a rough estimate of the predicted movement off of the weekly double bottom. There is a 50 fibo in that area as well.
could you post a chart ??
cheers jon.
PATIENCE... DISCIPLINE
  • #30,126
  • Edited 2:55am May 15, 2009 2:39am | Edited 2:55am
Quoting g_j_hook@yah
thats true but the 7500 level has a lot of history also. one reason i liked this setup was because the break was also breaking that level.


good point iv brought my stop to .7625. and dumped a part of the position at a loss this morning at around todays lows.if it does go our way there might be a chance to load up again??


could you post a chart ??
cheers jon.
Patience my friend. 7500 doesn't have any recent history for me compared to 7700.
Economists have forecast 9 out of the last 5 recessions
  • #30,127
  • May 15, 2009 3:03am May 15, 2009 3:03am
Quoting markmm
Patience my friend.
lol
actually this is one time it was a reasoned decision, at least for me,my original was only at 7640 to begin with. and as price trade seems,for the moment, to be struggling to get below that 7500 level i thought it would be sensible to scale out of my possition a little
i have no aversion to loosing this trade,no probs.
now if price goes my way it will make up for the loss i took. and if it doesnt i have cut any further losses.
cheers
jon
PATIENCE... DISCIPLINE
  • #30,128
  • May 15, 2009 3:07am May 15, 2009 3:07am
heres how i see the 7500 level still intact
EDIT: added fibs
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PATIENCE... DISCIPLINE
  • #30,129
  • May 15, 2009 3:26am May 15, 2009 3:26am
Quoting g_j_hook@yah
i dont quite get the point.....?
the area between 77 and 74 is hampered by the 75 level. this is where price is now and this is whats important to me right now??
Price has crossed 7500 recently a few times without much problem, at 7700 its bounced and pivoted and when it crossed it ran. Look at weekly zoomed out.
Economists have forecast 9 out of the last 5 recessions
  • #30,130
  • May 15, 2009 3:44am May 15, 2009 3:44am
Quoting markmm
Price has crossed 7500 recently a few times without much problem, at 7700 its bounced and pivoted and when it crossed it ran. Look at weekly zoomed out.
Not much point in arguing about it - when I pull back on a weekly, this thing looks like it could go anywhere. As with all trades!

(Ignore my arrows)
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"A is A"
  • #30,131
  • May 15, 2009 3:49am May 15, 2009 3:49am
Quoting markmm
Price has crossed 7500 recently a few times without much problem, at 7700 its bounced and pivoted and when it crossed it ran. Look at weekly zoomed out.
hehe...
i dont disagree with the level 77 at all. iv said so, after all thats why we are in the trade!! my point is that between there and my target at 74ish there is this 75 level.and as that is where price is atm that is why it is more important to me than the 77 level right now. we would do well to pay attention to these strong PPZs when we are in a trade,each trader in his own way, but to ignore there importance is folly.
the 77 level was tested from below therefore it HAS BEEN broken. it can be broken again. if we take that price as the more important level,and concider that price has reacted to this level and dropped again.which is what has happened. thats not to say a more minor level below that area can not stop the retrace. price doesnt have move down because it has tested this level. it could do many things,consolodation may be one of them.
hope i have got the point i want to make accross.??
sos for the delay im haveing my dinner lol.
cheers
jon
PATIENCE... DISCIPLINE
  • #30,132
  • May 15, 2009 3:50am May 15, 2009 3:50am
Quoting catiron
Not much point in arguing about it - when I pull back on a weekly, this thing looks like it could go anywhere. As with all trades!

(Ignore my arrows)
that would be ..discussing

jon
PATIENCE... DISCIPLINE
  • #30,133
  • May 15, 2009 3:52am May 15, 2009 3:52am
Quoting mbqb11
Hopefully up enough to my profit target. I am about to go play some golf so I set a take profit shy of 130 stops b/e so no worries

Best
Mike
Hi Mike,

Just out of interest, what is your handicap in golf? Just checking to see if you are as good a golf player as you are a trader?

MM
The greatest achievements are those that benefit others....
  • #30,134
  • May 15, 2009 4:00am May 15, 2009 4:00am
Quoting g_j_hook@yah
hehe...
i dont disagree with the level 77 at all. iv said so, after all thats why we are in the trade!! my point is that between there and my target at 74ish there is this 75 level.and as that is where price is atm that is why it is more important to me than the 77 level right now. we would do well to pay attention to these strong PPZs when we are in a trade,each trader in his own way, but to ignore there importance is folly.
the 77 level was tested from below therefore it HAS BEEN broken. it can be broken again. if we take that price as the more...
No worries, price will do what it wants so all we can do is wait for the BEOB to either break again or fail.
Economists have forecast 9 out of the last 5 recessions
  • #30,135
  • May 15, 2009 4:57am May 15, 2009 4:57am
Quoting markmm
No worries, price will do what it wants so all we can do is wait for the BEOB to either break again or fail.
well with all of this friday volatility, I'd want to see today's bar closes below yesterday's low, so that it won't come up as an inside bar.
  • #30,136
  • May 15, 2009 5:09am May 15, 2009 5:09am
Quoting marcelnyo
well with all of this friday volatility, I'd want to see today's bar closes below yesterday's low, so that it won't come up as an inside bar.
If this can break 7000 I see it going to 6400, some AUD news next week might trigger a drop. Obviously me being short is making me biased

Markmm in My-current-trade-or-investment-must-be-a-winner bias mode.
Economists have forecast 9 out of the last 5 recessions
  • #30,137
  • May 15, 2009 5:56am May 15, 2009 5:56am
Quoting mbqb11
lol I have a laptop
That 10" thing is different; once you tried it, you'll want to carry it with you even to bed

You can access Net via your iPhone (via Bluetooth).
One Chart is Worth Ten Thousand Words.
  • #30,138
  • May 15, 2009 6:06am May 15, 2009 6:06am
Quoting Forex007
That 10" thing is different; once you tried it, you'll want to carry it with you even to bed
Hmmmm 10"? Bed?
The things I could say...
Not going there!
  • #30,139
  • May 15, 2009 6:09am May 15, 2009 6:09am
TIME TO BUY ?
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  • #30,140
  • May 15, 2009 6:32am May 15, 2009 6:32am
Quoting zebulon
TIME TO BUY ?

Why?
Jesus Christ is my only Lord !
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