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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

  • #31,561
  • May 29, 2009 9:05pm May 29, 2009 9:05pm
Quoting Schneeule
Hi,
I also noticed USDJPY d2 hammer. I am posting picture so everyone can seeand discus.
When I look at its shape, possition and at gold chart , I would be realy surprised if this one fails. But lets see.
Careful buddy,

Being surprised by market moves isn't what you want to do in pursuit of successful trading.

Do stack the odds in your favor but don't bet on them. Smart money lies where you know you might be stopped out...

following from above...I am not intimating on the Pin bar failure just poitning at a possibility which could so easily be true...

Trade well.

Regards,
Ghous.
I believe . . .
  • #31,562
  • May 29, 2009 9:05pm May 29, 2009 9:05pm
Quoting Schneeule
Hi,
I also noticed USDJPY d2 hammer. I am posting picture so everyone can seeand discus.
When I look at its shape, possition and at gold chart , I would be realy surprised if this one fails. But lets see.
Juicy.

Edit: Good advice ghous
Indicators show the past. Price Action "Indicates" the future.
  • #31,563
  • Edited 9:33pm May 29, 2009 9:07pm | Edited 9:33pm
Next week holds interest. The major weekly moves appear poised to continue; however USDCHF has struggled below the next big figure and could bear on other pairs, as it has been a leading indicator, as described here last night. The prior bullish PA from December looms. Personally, I hope it is not an obstacle. Fortunately many here should be holding positions rather than attempting to place new ones. EURUSD has a similar course, though at the moment looks quite bullish through the second tier PA from late December.

The daily sequences from Dec to current on those pairs are quite impressive, are they not, for USD bears on the Continentals?? Whatever one wants to call them (arch, cup and handle, whatever), they are a bit ominous unless reversed rather soon.

Perhaps AUDUSD is telling us something, taking out the 50 Fibo on my weekly count.
  • #31,564
  • May 29, 2009 9:07pm May 29, 2009 9:07pm
Just saw this beauty!

Attached Image (click to enlarge)
Click to Enlarge Name: uj weekly.gif Size: 17 KB
I believe . . .
  • #31,565
  • May 29, 2009 9:11pm May 29, 2009 9:11pm
Quoting ghous
....

Talk abt trading education and I'll embrace it with open arms....

These are strangling me.

As I walked through the thread yesterday the stress drained away pretty nicely, it was a real good feeling.

Thanks for the heads up guys,

Regards,
Ghous.
We'll always be here brother.

Looking forward to some classic ghous charts.

Edit: Spoke to soon
Indicators show the past. Price Action "Indicates" the future.
  • #31,566
  • May 29, 2009 9:20pm May 29, 2009 9:20pm
inspired to post 1 more chart, via jarroo's request.

this is $sek, rarely mentioned here.
this one was a demo trade (not available in my live platform; also am not familiar with these exotic crosses)

the buy entry was based on the quick & easy breach of the 7.650 ppz (this ppz contained price since May21, last thursday; was a ppz all the way from oct'08). breach of this ppz was followed by a range then a quick upmove (in just 1 H4 bar), pulverizing the range (blue box) on the left, which took 1+ day (at least 8 bars) to form. again this 1 bar upmove was followed by a very small range followed by a huge upmove.
Attached Image
  • #31,567
  • May 29, 2009 9:22pm May 29, 2009 9:22pm
Quoting jarroo
We'll always be here brother.

Looking forward to some classic ghous charts.

Edit: Spoke to soon
Oh BTW Jim saw your "Trading room" in the older pages....

Despite your modest attempts....The room's coool.

I am stuck up with a flickering 14" box till I blurt out the secret.
I believe . . .
  • #31,568
  • May 29, 2009 9:22pm May 29, 2009 9:22pm
Quote
lol. He is a member of the forum.

jarroo,
yes, aware of it.
i just find your coined term very appealing.
  • #31,569
  • May 29, 2009 9:23pm May 29, 2009 9:23pm
Quoting Shermenator
Here is a setup that is very high probabilty in my book if we get the good close.....

If you take a look at the usdjpy this pair has broken out of the wedge earlier this month and has turned into a decending triangle. Also take a look at how each time we bounce of the 93.80 area we are bouncing less as well as more sell stops are being build below 2 months ago's low. I will most likely will be looking to ride this puppy down ....

Attachment
hello Shermenator
what kind of fibo. are that you using? with those words long ,short T1,T2 etc....written on them
  • #31,570
  • May 29, 2009 9:31pm May 29, 2009 9:31pm
Quote
Nice Chart sChaos. I would like to see more of them then funny faces.
They don't have to pure J16 setup, just relate in some way. Also remember, waiting for the break on all PA setups-Confirms the setup. If the is no break, there is no valid setup.
Thanks sChaos.

jarroo,
well, why didn't u say so much much earlier?

Somehow, this was one of the reasons why i refrained from posting that trade. that trade may somehow confuse others who are learning j16 method.

Thanks
  • #31,571
  • May 29, 2009 9:36pm May 29, 2009 9:36pm
Quoting ghous
Oh BTW Jim saw your "Trading room" in the older pages....

Despite your modest attempts....The room's coool.

I am stuck up with a flickering 14" box till I blurt out the secret.
I thought they deleted that post. lolol.
Indicators show the past. Price Action "Indicates" the future.
  • #31,572
  • May 29, 2009 9:37pm May 29, 2009 9:37pm
Quoting ghous
Just saw this beauty!


Agreed. Low R/R at this point even if incorrect, although technically the initial PB-style entry was hit and underwater. I actually bought that on the close today - although in interest of full disclosre I am heavily short USD on the continentals and commodity pairs.
  • #31,573
  • May 29, 2009 9:40pm May 29, 2009 9:40pm
Quoting supremeChaos
jarroo,
well, why didn't u say so much much earlier?

Somehow, this was one of the reasons why i refrained from posting that trade. that trade may somehow confuse others who are learning j16 method.

Thanks
The charts are good sChaos. They are PA related. They may not be in the best locations, i.e. swing highs/lows, but they look good.
Indicators show the past. Price Action "Indicates" the future.
  • #31,574
  • May 29, 2009 9:47pm May 29, 2009 9:47pm
Quoting Alexandra
Agreed. Low R/R at this point even if incorrect, although technically the initial PB-style entry was hit and underwater. I actually bought that on the close today - although in interest of full disclosre I am heavily short USD on the continentals and commodity pairs.
I was talking abt the IPB Alexandra, the bar I pointed out is an Inverted bullish Pin bar ...was a beautiful setup, (and which worked perfectly well too, i.e it made it's way to the bar high without breaching the bar low.)
I believe . . .
  • #31,575
  • May 29, 2009 9:49pm May 29, 2009 9:49pm
Quoting jarroo
I thought they deleted that post. lolol.
Why wouldn't they...

I almost came down heavy on my 14" when I saw that pic.
I believe . . .
  • #31,576
  • May 29, 2009 9:53pm May 29, 2009 9:53pm
Quote
hello Shermenator
what kind of fibo. are that you using? with those words long ,short T1,T2 etc....written on them
Greetings row,
it's just a simple Fib tool in MT4 with descriptions put in by him. u can do that too

here is one of several posts regarding this. if not, this is the indicator bobokus fib. search for it.
  • #31,577
  • May 29, 2009 9:58pm May 29, 2009 9:58pm
Quote
...They may not be in the best locations...

Precisely, jarroo.




Quote
the bar I pointed out is an Inverted bullish Pin bar ...was a beautiful setup

the ghous IPB.
  • #31,578
  • May 29, 2009 10:10pm May 29, 2009 10:10pm
Quoting ghous
Why wouldn't they...

I almost came down heavy on my 14" when I saw that pic.
Alright here's the link from "Show your workstation" in the Member's Lounge.

http://www.forexfactory.com/showpost...&postcount=356
Indicators show the past. Price Action "Indicates" the future.
  • #31,579
  • May 29, 2009 10:24pm May 29, 2009 10:24pm
Quoting ghous
I was talking abt the IPB Alexandra, the bar I pointed out is an Inverted bullish Pin bar ...was a beautiful setup, (and which worked perfectly well too, i.e it made it's way to the bar high without breaching the bar low.)

Ahhh....well whatever you call it (star, inverted bullish PB, gravestone doji....) it's engulfed by this week's candle and prompted a long entry from me on the close. It's low risk with a lot of promise if my view is correctly timed, although the daily chart pattern could prove fatal. S/R levels are overall attractive, though. LOL - doesn't say much for my view of JPY, does it, given the overall dollar weakness? Hope no one declares bankruptcy next week or I am sunk.
  • #31,580
  • May 29, 2009 10:37pm May 29, 2009 10:37pm
Quote
Alright here's the link from "Show your workstation" in the Member's Lounge.

jarroo,
as always, u are being generous, even in finding our way through FF threads.

But seriously let's tone it down as due respect for fellow women traders among us. . that was a rated-R post.
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