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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

  • #32,001
  • Jun 3, 2009 7:24am Jun 3, 2009 7:24am
KissFan,
this is the addition for the above post FOR EURAUD.....

be careful, euraud is in a fairly strong downtrend. looking at the charts, specially H4 - monthly (specially daily - monthly). daily formed lower highs & lows for 4 consecutive days; in the weekly, a descending triangle from 1st week of May was broken ; HUGE monthly down bars.
of course, it goes without saying that a long trade may work out. this is just a heads up.

immediate roadblock above 1.75 -1.7650.....(to be continued)

[ Be careful of MACD divergences....
  • #32,002
  • Jun 3, 2009 7:33am Jun 3, 2009 7:33am
Quoting squeezy
gbpjpy also looking interesting, i also see a nice bearish pin on the 8hr fxdd feed, sorry will try n edit to post other chart....
will be watching dis to see how she closes
good location of 159 ppz round no, due for retracement imo, nice space and plenty of room to drop to 154 area
Look at the buying pressure from the previous day in the market and then look at how the market reversed again....we might experience some range in this pair before it moves nicely, I wont be taking this trade myself but good luck on it.
  • #32,003
  • Jun 3, 2009 7:33am Jun 3, 2009 7:33am
Quoting KissFan
All good points Squeezy....
i feel u on that one too, i think i need to post more myself esp posts wit charts, it sucks waiting at times, but thats wat the game is all about
the patient dog gets the fattest ......lol
now we wait
Simplicity is the key to success
  • #32,004
  • Jun 3, 2009 7:38am Jun 3, 2009 7:38am
Quoting Shermenator
Look at the buying pressure from the market and then look at how the market reversed again....we might experience some range in this pair before it move creating a higher probabilty so in my book its not a setup I would participate in. But good luck on it
well said sherm, saw the quick accumulation yday when price went short from 159, but i still believe it is due for a retracement....price tends to exhaust after a long upward trend even if its target hasnt been met yet.....depending on how she closes , i jst might take dis and hav a tight stop loss ( thnx to jarroo, been working on dat now wit great success)
even when i hav a loss , its not dat terrible
8.5 hrs more for me
wait wait waiting
Simplicity is the key to success
  • #32,005
  • Jun 3, 2009 7:53am Jun 3, 2009 7:53am
EurAud needs to break the 1.77 and pullback with some PA for me to go long. However, depending on your trading plan, you could always trade it to the next resistance level marked on the weekly chart.

I guess there is no right or wrong, as long as you know what to expect.

MM

Quoting KissFan
I have been waiting on this pair to give me a good long signal. Is today the day?
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The greatest achievements are those that benefit others....
  • #32,006
  • Jun 3, 2009 8:11am Jun 3, 2009 8:11am
Quote
.......I guess there is no right or wrong, as long as you know what to expect.

mmbmusa,
this is 1 of the most concise way to say it.
  • #32,007
  • Jun 3, 2009 8:17am Jun 3, 2009 8:17am
I will concern with PB at PPZ NZDCAD.
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  • #32,008
  • Jun 3, 2009 8:20am Jun 3, 2009 8:20am
Quote
i jst might take dis and hav a tight stop loss ( thnx to jarroo, been working on dat now wit great success)
even when i hav a loss , its not dat terrible

Good for u, squeezy.
Less risk (& losses) = (in time) more profits ----the essence of money management.
"Successful traders continually try to lessen risk/trade with minimal risk"
Let's try & continue to trade this way, shall we?
  • #32,009
  • Jun 3, 2009 8:34am Jun 3, 2009 8:34am
hello guys, waiting on this GJ trade also, Gj being my field. Being seing a lot of pinbars on 1hr and 4hr. 4pins and all obeyed the law of price action.really cool
  • #32,010
  • Jun 3, 2009 8:39am Jun 3, 2009 8:39am
Quoting supremeChaos
Good for u, squeezy.
Less risk (& losses) = (in time) more profits ----the essence of money management.
"Successful traders continually try to lessen risk/trade with minimal risk"
Let's try & continue to trade this way, shall we?
yessir, now im no more scared of a loss ...lol
Simplicity is the key to success
  • #32,011
  • Edited 9:07am Jun 3, 2009 8:39am | Edited 9:07am
masut,
interesting pair for me, as i believe it has not been discussed here recently.

because of this, i got inspired to search for it. it's not available in my live charts, but saw it in my demo FXPro (also MiG, WHC, "old" MiG MT4).

loking at the daily -weekly charts, It's contained in a big range 0.67 - 0.72.
Immediate roadblock is 0.7050 & 0.71.

I think it would be more prudent to wait for better PA around the edges of the said range.
  • #32,012
  • Jun 3, 2009 8:56am Jun 3, 2009 8:56am
Quote
yessir, now im no more scared of a loss ...lol

squeezy,
I smell confidence in the air. Good for u.
More practice = more confidence = More future profits for us
  • #32,013
  • Jun 3, 2009 9:04am Jun 3, 2009 9:04am
missed this. just looked at $cad now....

H4 formed a double bottom, while Daily again failed to breach the PB of 2 days ago.
a possible retracement which may go up to 1.12 - 1.15 at best. Let's see..
  • #32,014
  • Jun 3, 2009 9:11am Jun 3, 2009 9:11am
nice trade on the usdcad buob h4, didnt take it cos im trying to restrict myself to take trades of daily strictly....
glad i cld join the train off a blind entry ive been working on off the daily
taken 30 pips off , now at be
sorry, cant talk about my wins only, had a small loss of 23pips on the eurgbp short earlier today, totally my fault, didnt take anything of the table....stupid me
was waiting for my 30pips pp to get hit, but came close and reveresed on me
always learning, always, trying to understand momentum, knew the eurgbp was too slow for my liking...
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Simplicity is the key to success
  • #32,015
  • Jun 3, 2009 9:16am Jun 3, 2009 9:16am
I see the chart full of reversal patterns

i see there is a very nice opportunity for shorting the eur/usd

Its in a very nice ppz , Fibnacci levels , Resistance , roung number 43000 and there is a pin bar started to play on the weekly , OB on the daily


does anyone will take it with me
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The million dollar man Alkhatarey
  • #32,016
  • Jun 3, 2009 9:17am Jun 3, 2009 9:17am
Quoting supremeChaos
squeezy,
I smell confidence in the air. Good for u.
More practice = more confidence = More future profits for us
wow! so dats wat ive been smelling....
now i know
Simplicity is the key to success
  • #32,017
  • Jun 3, 2009 9:19am Jun 3, 2009 9:19am
just FYI... (Bulbrokers MT4)

there's a "piercing"/"poke-through" trendLine (derived/extended lower line from a May21-27 broken triangle, H1 chart) that seems to hold price for now. it starts from May21 (H1/H4 chart) at 1.3727, 2nd support touch on May26, 3rd on June2, 4th touch (almost) is today.
Coincidentally, there's a minor PPZ (from May29) around 1.4160 area. (sorry can't post charts as i'm looking at many charts now)

Let's see if we'll have a considerable bounce from here.
  • #32,018
  • Jun 3, 2009 9:29am Jun 3, 2009 9:29am
hope u guys r watching the daily yen pairs....look interesting
one needs to be picky here, and pick only the best of the best trades, dnt let greed set in.....wish i cld post charts but its not even near the end of day yet(too early for now)...jst pairs to keep an eye on
Simplicity is the key to success
  • #32,019
  • Jun 3, 2009 9:31am Jun 3, 2009 9:31am
Quoting alkhatarey
I see the chart full of reversal patterns

i see there is a very nice opportunity for shorting the eur/usd

Its in a very nice ppz , Fibnacci levels , Resistance , roung number 43000 and there is a pin bar started to play on the weekly , OB on the daily


does anyone will take it with me

You need more lines on your charts.
Keep taking CT trades, I need more money
  • #32,020
  • Jun 3, 2009 9:33am Jun 3, 2009 9:33am
Quoting Ryanmcd
You need more lines on your charts.

LOL
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