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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

  • #31,681
  • May 31, 2009 9:40pm May 31, 2009 9:40pm
Quoting jarroo
Looking good 4fun. Ryanmcd would be proud.

Oh ya You are going to laugh but I am looking at doing a hybrid of DIBS on the 5min using IB's so I can do a 2:1 RR. The 1:1 is nice and with 70%+ it makes money, if it's 2:1 well I will be printing it. Spent about 15 hours this weekend messing with it. Pretty much taking IB's with trend and Stop at cost when it's the risk target is 2:1.

Once I get it nailed down I will post up, the problem I had with 1:1 is it was the wrong way to trade for ME, some people even say use a 30 pip stop with a 15 target lol sounds like 75% winners for BE. Again you can be a TA GOD but if your R:R and MM sucks it DOES NOT MATTER.
Keep taking CT trades, I need more money
  • #31,682
  • May 31, 2009 9:45pm May 31, 2009 9:45pm
Quoting Ryanmcd
Oh ya You are going to laugh but I am looking at doing a hybrid of DIBS on the 5min using IB's so I can do a 2:1 RR. The 1:1 is nice and with 70%+ it makes money, if it's 2:1 well I will be printing it. Spent about 15 hours this weekend messing with it. Pretty much taking IB's with trend and Stop at cost when it's the risk target is 2:1.

Once I get it nailed down I will post up, the problem I had with 1:1 is it was the wrong way to trade for ME, some people even say use a 30 pip stop with a 15 target lol sounds like 75% winners for BE.
Sound interesting. Whatever gets you to the "free trade" and let it ride.
Indicators show the past. Price Action "Indicates" the future.
  • #31,683
  • Edited 10:24pm May 31, 2009 10:15pm | Edited 10:24pm
folks,
What about EUR/GBP ?
PPZ below (red rect)
I found, daily ib broke up, yesterday .
Is this worth to buy ?
I see you all search pin bar, what about BUB and BEB ?
If it's crossed PPZ in daily ru consider it too ? (eg. GU)

Thank you

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  • #31,684
  • Jun 1, 2009 12:03am Jun 1, 2009 12:03am
Just a quick FYI... (Bulbrokers STS MT4)

eur$ H1 BUOB off 1.4100, H4 BUOB too but it's yet to close. 1.4100 has acted as support for (almost) 6 H4 bars now.

gbp$ H1 also formed a BUOB, while has a 4-pip difference to be considered as a H4 BUOB. this move was off the 1.62/1.6230 (possible ppz).

$jpy H1 huge BEOB. Huge H4 BEOB potential??

I haven't checked the Fibs, other possible confluences

Let's see how it turns out..
  • #31,685
  • Jun 1, 2009 12:06am Jun 1, 2009 12:06am
Quoting supremeChaos
(Bulbrokers STS MT4)

eur$ H1 BUOB off 1.4100, H4 BUOB too but it's yet to close. 1.4100 has acted as support for (almost) 6 H4 bars now.

gbp$ H1 also formed a BUOB, while has a 4-pip difference to be considered as a H4 BUOB. this move was off the 1.62/1.6230 (possible ppz).

I haven't checked the Fibs, other possible confluences

Let's see how it turns out..
Hey Chaos,

Some charts won't have been so bad either eh?
I believe . . .
  • #31,686
  • Jun 1, 2009 12:14am Jun 1, 2009 12:14am
Always remember, price is news, news is price. I dnt usually allow Such GM news affect my trading. Follow the charts. UJ is bearish on GM news but bcos the GJ charts says bullish, GU is countering the effect of UJ. Still have my GJ longs from last week open.I posted a possible weekly buovb break last week. Patience. off to place new daily, weekly and mnthly pivots
  • #31,687
  • Jun 1, 2009 12:16am Jun 1, 2009 12:16am
i not get chart requests...

am i allowed to post a H1 chart? (as i try to avoid posting H1 & below charts)

gbp$ H1, eur$ H4 chart (Bulbrokers STS MT4).... lots of space above both pairs

Let's see what effect the GM bankruptcy news has on the markets

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  • #31,688
  • Edited 12:35am Jun 1, 2009 12:19am | Edited 12:35am
Quote
Always remember, price is news, news is price. I dnt usually allow Such GM news affect my trading. Follow the charts. UJ is bearish on GM news but bcos the GJ charts says bullish, GU is countering the effect of UJ....


I'm just intrigued on what happens post-GM bankruptcy, as this is unprecedented news.

it's also possible we may have a down-pull by jpy & chf strength anytime soon.... unless, $ weakness/GBP strength continue to be relentless.
  • #31,689
  • Jun 1, 2009 12:36am Jun 1, 2009 12:36am
Quoting supremeChaos


I'm just intrigued on what happens post-GM bankruptcy, as this is unprecedented news.

it's also possible we may have a down-pull by jpy & chf strength anytime soon.... unless, GBP strength continues to be relentless.

GM news is already being priced in. Watch out what happens to GJ when UJ recovers from the GM effect. Hoping GU cushions the effect of UJ even if it gets as low as 90/92 then recovers to join the bull party.
  • #31,690
  • Jun 1, 2009 12:42am Jun 1, 2009 12:42am
Quote
GM news is already being priced in.

Yes, as i understand, for several days/weeks now.
  • #31,691
  • Jun 1, 2009 12:43am Jun 1, 2009 12:43am
hi yawl...WHOO i can post 1h charts!!?? hehe ur in trouble now!!
Quote
USD/CHF @ the 61.8 fib and trendline.
hey magic, becarefull with that TL. iv just gone short on the break of a 1h beob after concidering the TL broken??( i hope so now!!)

Quote
$jpy H1 huge BEOB. Huge H4 BEOB potential??
hi Chaos i was looking at this also.nice hard jarro break.first TP for me is 94.5 at which ill change my stop to BE and put a trailing stop on it.

Quote
ephisi.. UJ is bearish on GM news but bcos the GJ charts says bullish, GU is countering the effect of UJ.
hi mate just looking at the two daily charts any corrolation seems kaput right now? certainly room for an intraday move opposite to the g/y?(dont do fundies)
cheers
jon
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PATIENCE... DISCIPLINE
  • #31,692
  • Jun 1, 2009 12:47am Jun 1, 2009 12:47am
Quote
.$jpy H1 huge BEOB. Huge H4 BEOB potential??
I haven't checked the Fibs, other possible confluences
Let's see how it turns out......

as i write, the $jpy has breached the day's low (Bulbrokers MT4) by 1 pip, forming the potential H4 BEOB 2.15hours before the H4 bar completes. Still long way to go, so let's see..
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  • #31,693
  • Jun 1, 2009 12:49am Jun 1, 2009 12:49am
Quote
hi Chaos i was looking at this also.nice hard jarro break.first TP for me is 94.5 at which ill change my stop to BE and put a trailing stop on it.

Greetings Jon/g_j_hook@yah,
  • #31,694
  • Jun 1, 2009 12:56am Jun 1, 2009 12:56am
Quoting supremeChaos
as i write, the $jpy has breached the day's low (Bulbrokers MT4) by 1 pip, forming the potential H4 BEOB 2.15hours before the H4 bar completes. Still long way to go, so let's see..

Indeed, I am watching that chart as well; my bias is for an opportunity to the long side. Just letting the others run, as things are getting a bit frenetic. I do see potential in EURJPY still.
  • #31,695
  • Jun 1, 2009 12:57am Jun 1, 2009 12:57am
Quoting Alexandra
Hook, Sorry - I took the weekend off. This is a true long termer. The original entry was way back on 12/5 on that failure at the top of the triangle. The market went sideways to some extent. I was a bit lucky on that one, as I think many saw the daily pattern as an ascending triangle, which was reasonable. Lately this has been a pure S/R trade. Look at the candles on 4/1 and 4/21. The last leg came on 5/18 at failure of the old support. I could have entered better at certain points along the way (that always happens in hindsight), but overall the...
Alexandra;thanx for your time. and nice trading! its good to know im looking at my charts the right way.that 1.08 level seems to be getting smashed right now!?

cheers
jon
PATIENCE... DISCIPLINE
  • #31,696
  • Jun 1, 2009 1:22am Jun 1, 2009 1:22am
Indeed, I see that. Just letting that ride and searching for new opportunities. You were asking about stops earlier - on USDCAD I have moved from intraday to daily and now weekly stops. That way I have little to worry about on the micro level. Take a look at the weekly chart though - it may be rough going in here by tomorrow, although I have the real target down at 1.06.
  • #31,697
  • Jun 1, 2009 1:33am Jun 1, 2009 1:33am
http://www.forexfactory.com/showpost...ostcount=30666
Looking at H4 & Daily charts

Quote
........Who knows, we might go into a range from here, before we get another PB or BUOB for an upmove. But as it is, there are a lot of traffic/resistance above (1.15-1.18 area) but LESSER immediate roadblocks below (1.13 then..... 1.08 range highs last Sept! ; possible ppz's/support prior Aug'07 may also exert some influence)

g_j_hook@yah/Alexandra,
thanks to all guys/gals here & specially james16, my analyses has improved tremendously, albeit in a very short span of time.
still on a "whipsaw" when it comes to my (james16 method) implementation phase (mainly governed/affected by money mgmt/account size ; like i often mentioned mine's a very unique situation i strongly encourage others not to follow)
  • #31,698
  • Jun 1, 2009 1:34am Jun 1, 2009 1:34am
Quote
Indeed, I am watching that chart as well; my bias is for an opportunity to the long side. Just letting the others run, as things are getting a bit frenetic. I do see potential in EURJPY still.

Alexandra,
are u looking for a short-term long on $jpy? daily, weekly seem to be bearish though.
  • #31,699
  • Jun 1, 2009 1:37am Jun 1, 2009 1:37am
Quoting Alexandra
Indeed, I see that. Just letting that ride and searching for new opportunities. You were asking about stops earlier - on USDCAD I have moved from intraday to daily and now weekly stops. That way I have little to worry about on the micro level. Take a look at the weekly chart though - it may be rough going in here by tomorrow, although I have the real target down at 1.06.
yeah i see it also, i was gonna mention the 1.06 level!
i like the way youve managed the stop on this.iv had similar ideas about slowley widening the stop as price goes my way. very interesting.thanx for the insight.
jon
p.s could you elaborate about your u/y bullishness?? i see all the yen crosses faceing big levels atm?
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PATIENCE... DISCIPLINE
  • #31,700
  • Jun 1, 2009 1:39am Jun 1, 2009 1:39am
Quoting supremeChaos
Alexandra,
are u looking for a short-term long on $jpy? daily, weekly seem to be bearish though.

Yes, believe it or not, I am looking at the short side of the Yen as risk aversion flows desist. It's a matter of having a view and waiting for supportive PA. Besides, I don't want to chase the other markets at this stage. From a practical standpoint, I do see 94.50 as a rather critical area.
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