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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

  • #31,401
  • May 28, 2009 10:26am May 28, 2009 10:26am
Quoting g_j_hook@yah
us/chf 4h BEOB turned out nice!!
EDIT: eu/us looks to be breaking out also??
Daily on EU looks to be cooking a BUOB if we close above 1.4000 today. I was/am still thinking we will see 1.3750.. Maybe a big drop on friday, right now I am flat though.
  • #31,402
  • May 28, 2009 10:39am May 28, 2009 10:39am
Quoting fxdanny4x
Daily on EU looks to be cooking a BUOB if we close above 1.4000 today. I was/am still thinking we will see 1.3750.. Maybe a big drop on friday, right now I am flat though.
yeah, nice one i hadnt looked at the daily. i agree a close above 140 would be lovely.it is looking likely?
cheers
jon
PATIENCE... DISCIPLINE
  • #31,403
  • May 28, 2009 10:54am May 28, 2009 10:54am
When you told me to short AUD/CAD I believed you but now it's doing this:

Attached Image (click to enlarge)
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What do these patterns mean, please?
Gone to a better place
  • #31,404
  • May 28, 2009 11:02am May 28, 2009 11:02am
Quoting smikester
When you told me to short AUD/CAD I believed you but now it's doing this:

Attachment

What do these patterns mean, please?
taking a gander, it looks like price is breaking through S/R areas then retracing to confirm then taking off again.
  • #31,405
  • May 28, 2009 11:12am May 28, 2009 11:12am
Quoting smikester
When you told me to short AUD/CAD I believed you but now it's doing this:

Attachment

What do these patterns mean, please?
You get it Smike!

Keep pondering over this aspect and you'll be a real successful trader sooner than you may have thought...

Support and resistance ....It's got a lot more to it then just an MA...keep looking and congrats for being on the right path...if it's anything out there that affects the markets in a technical way then it has to be this....Support and Resistance

Oh and BTW...

Folks what's up?

I am not back up, and the exams are still in progress, just decided to stroll into the thread, it's been one hell of a time without you ppl

Josh were you able to get off to a good start with your live trades?

Good to see all the big guys still in action...and...Ryan...Good to see you back sir,

Regards,
Ghous.
I believe . . .
  • #31,406
  • May 28, 2009 11:14am May 28, 2009 11:14am
Quoting ikki
Hey Mark, are you waiting the Crude Oil Inventories.?
The demo's been seriously kind to me with regard to that chart you posted Ikki...

I may have just stumbled across my system...
I believe . . .
  • #31,407
  • May 28, 2009 11:16am May 28, 2009 11:16am
Quoting ghous
You get it Smike!

Keep wondering on these lines and you'll be a successful trader sooner than you may have thought...

Support and resistance....It's got a lot more to it then just an MA...keep looking and congrats for being on the right path...

Oh and BTW...

Folks what's up?

I am not back up, and the exams are still in progress, just decided to stroll into the thread, it's been one hell of a time without you ppl

Josh were you able to get off to a good start with your live trades?

Good to see all the big guys still in action...and...Ryan...Good...
hey ghous!! ows it gwaan?
hope your exams are going ok?
jon
PATIENCE... DISCIPLINE
  • #31,408
  • May 28, 2009 11:21am May 28, 2009 11:21am
Very good to see you Ghous! Good luck with the exams

Quoting ghous
The demo's been seriously kind to me with regard to that chart you posted Ikki...

I may have just stumbled across my system...
  • #31,409
  • May 28, 2009 11:22am May 28, 2009 11:22am
Quoting ghous
The demo's been seriously kind to me with regard to that chart you posted Ikki...

I may have just stumbled across my system...
hey ghous, been a while amigo, good to read ur post once more
when will u be back finally, goodluck wit the rest of ur exams
Simplicity is the key to success
  • #31,410
  • May 28, 2009 11:26am May 28, 2009 11:26am
Hallo everyone

What do you think about this opportunity? Long on the Eur/Gbp on the break of this IB , its on 50 Fib level , good support making and IB on the daily chart and reversal pattern we cant call it PB but it looks like that and Double buttom on the weekly

What do you think guys?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgpb.gif Size: 27 KB
The million dollar man Alkhatarey
  • #31,411
  • May 28, 2009 11:39am May 28, 2009 11:39am
This is the 3 week dow chart. Very interesting setup!
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  • #31,412
  • May 28, 2009 11:48am May 28, 2009 11:48am
What do you think about shorting the GBP/CHF , good ppZ , 38 FIB Resistance OB under the down trend line?

Tell me what is your opinion guys
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 32 KB
The million dollar man Alkhatarey
  • #31,413
  • May 28, 2009 11:49am May 28, 2009 11:49am
Quoting ghous
You get it Smike!

Keep pondering over this aspect and you'll be a real successful trader sooner than you may have thought...

Support and resistance ....It's got a lot more to it then just an MA...keep looking and congrats for being on the right path...if it's anything out there that affects the markets in a technical way then it has to be this....Support and Resistance

Oh and BTW...

Folks what's up?

I am not back up, and the exams are still in progress, just decided to stroll into the thread, it's been one hell of a time without...
Nice to see you again ghous, welcome back
  • #31,414
  • May 28, 2009 12:04pm May 28, 2009 12:04pm
Quoting alkhatarey
What do you think about shorting the GBP/CHF , good ppZ , 38 FIB Resistance OB under the down trend line?

Tell me what is your opinion guys
My chart is similar. I will look at it closer after today's close.
Edit: Ok, maybe not that similar...
Attached Image (click to enlarge)
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  • #31,415
  • May 28, 2009 12:09pm May 28, 2009 12:09pm
Hi,
I am keep reading and re-reading this great thread trying to get the substance of it while demo trading.
I would like to ask a question about my understanding of PA to the senior traders there.

I more and more I learn, the more I believe that PA helps a lot to time your entry point in a trend. Am I right or wrong? Playing PA countertrends could make your account bleeding while playing the trend will make money fly in, isn't it?

No I understand the famous market quote "the trend is your friend"

Did I get one of those aha moment or do I have to restart reading?

Cheers
  • #31,416
  • May 28, 2009 12:12pm May 28, 2009 12:12pm
Quoting alkhatarey
Hallo everyone

What do you think about this opportunity? Long on the Eur/Gbp on the break of this IB , its on 50 Fib level , good support making and IB on the daily chart and reversal pattern we cant call it PB but it looks like that and Double buttom on the weekly

What do you think guys?
I have PPZ at 0.8800 area. I don't like to take the trade against it
  • #31,417
  • May 28, 2009 12:14pm May 28, 2009 12:14pm
Quoting Lapin
Hi,
I am keep reading and re-reading this great thread trying to get the substance of it while demo trading.
I would like to ask a question about my understanding of PA to the senior traders there.

I more and more I learn, the more I believe that PA helps a lot to time your entry point in a trend. Am I right or wrong? Playing PA countertrends could make your account bleeding while playing the trend will make money fly in, isn't it?

No I understand the famous market quote "the trend is your friend"

Did I get one of those aha moment or...
Hey Lapin,

You can get burnt both ways. It is simply understanding when to take a trade. Counter trend trades are very profitable, just most people aren't patient to wait for strong signals and try to fight a very strong trend with iffy bars, and no confluence. So really my simple answer is both ways can burn you and both can make you money. It is simply location and the content of the price action that will matter in the end.

Best
Mike
  • #31,418
  • May 28, 2009 12:18pm May 28, 2009 12:18pm
Hi Mike,

Thanks for your patience teaching us.
In the last weeks reading the thread, lots of stuffs start to make sense to me.
it can be such a pleasure when you can see what you are learning start to happen the way you are expecting...
  • #31,419
  • May 28, 2009 12:24pm May 28, 2009 12:24pm
Quoting Lapin
Hi Mike,

Thanks for your patience teaching us.
In the last weeks reading the thread, lots of stuffs start to make sense to me.
it can be such a pleasure when you can see what you are learning start to happen the way you are expecting...
  • #31,420
  • May 28, 2009 12:45pm May 28, 2009 12:45pm
sorry for the late reply. was out. What i posted was talking about the GBPUSD pinbar mentioned on the thread yesterday. I was only using another system to say why i wouldnt take the trade yet. The 4hr chart is Auslancos system from forexfactory. I combine both J16 and Aus system. , personally if Aus 4hr system gives a confirmation i may have taken the trade. But not to bother i trade only GJ. dis is just for sharing purposes chart for you
Quoting Jduester
I'm sorry. I"m not following the price action in this post. Could you explain what price action you are using? S/R? Pinbars? All I read is indicators... No comprende.

I could just be missing what you are explaining too?

Josh
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