james16 Chart Thread | Page 1652 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #33,021
  • Jun 10, 2009 5:08am Jun 10, 2009 5:08am
Quoting pipmyride
Against trend, but worth a sho(r)t ??

Retracing a bit already ...


Look at the higher lows you are making into that reistance...and look at the amount of selling your getting compared to such push up...preety small...its more like a puase then a reversal
  • #33,022
  • Jun 10, 2009 5:13am Jun 10, 2009 5:13am
Quoting Shermenator
Look at the higher lows you are making into that reistance...and look at the amount of selling your getting compared to such push up...preety small...its more like a puase then a reversal
i think you're right - in any event fighting the trend has been a killer to me over the last couple of weeks so i wont be trying this one...
  • #33,023
  • Jun 10, 2009 5:29am Jun 10, 2009 5:29am
Quoting pipmyride
i think you're right - in any event fighting the trend has been a killer to me over the last couple of weeks so i wont be trying this one...

Keep in mind it deos not mean the trade cant work out..it just means that in the long run this setups won pay you. Focuse only the setups the just scream out at you. Make price come to you...never take a pin bar or price action if its not at an area you had chosen. Most people find the bar and then look to the left an find reasons why its good . Put a resistance line above and a support line below current price and say to yourself when price enters here I will only trade . Bet you money will fall into your pockets.
  • #33,024
  • Jun 10, 2009 5:40am Jun 10, 2009 5:40am
Quoting Shermenator
Keep in mind it deos not mean the trade cant work out..it just means that in the long run this setups won pay you. Focuse only the setups the just scream out at you. Make price come to you...never take a pin bar or price action if its not at an area you had chosen. Most people find the bar and then look to the left an find reasons why its good . Put a resistance line above and a support line below current price and say to yourself when price enters here I will only trade . Bet you money will fall into your pockets.

Sher,

Good advice there man - I am on my 3 month demo of weekly and daily and getting nowhere fast! Have taken some pins, as you say, and then looked left! This strategy is not working for me! Just one question, are the areas marked on your chart PPZs or just areas of interest?

thanks,

berti
PA is where its at!!
  • #33,025
  • Jun 10, 2009 5:47am Jun 10, 2009 5:47am
Quoting bertie123
Sher,

Good advice there man - I am on my 3 month demo of weekly and daily and getting nowhere fast! Have taken some pins, as you say, and then looked left! This strategy is not working for me! Just one question, are the areas marked on your chart PPZs or just areas of interest?

thanks,

berti
I keep it simple....I just look for areas that the maret reversed hard....showing sellers dominated the area because large orders are stacked. Then many times you have late bloomers that come to the market and look at these areas an participate expecting a similar reaction to what took place last time.
  • #33,026
  • Jun 10, 2009 5:54am Jun 10, 2009 5:54am
bertie123,
are u saying u just finished your 3 month demo, or
u are currently on your 3rd month?

I remember u were on your 2nd week during end of April.

have u posted charts here often enough to learn from?
have u also been looking for other PAs, like BEOB, DBHLC etc?
have u been plotting PPZs & monitoring price behavior around these PPZs?

there's a recent eur$ 2-day PB, last June2-3, did u take that?

no need to get frustrated/disappointed. learning this method, or anything for that matter, takes time, practice & patience. of course, learning curve also is a factor. take all these into account.
if it takes u more than 3months to learn this, so what? just do it if u are really serious about this business.

Keep at it!
  • #33,027
  • Jun 10, 2009 5:57am Jun 10, 2009 5:57am
Alright I am short....I will watch price action as it unfolds

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 37 KB
  • #33,028
  • Jun 10, 2009 5:58am Jun 10, 2009 5:58am
Quoting Alexandra
I'm a bull there as well from the weekly on down. One has to respect that bottom on the weekly and the likely new daily highs pending.

The weekly 50 followed by 184 seems prudent. One has to fight off those brewing divergences, though.

Eyes at the moment squarely on E/J and D/J for the PA off solid levels.
Thanks for your thoughts, on G/J lookin at the chart I saw it as bullish also and went long at 159.30 the break of yesterdays high and woke up just now to see it already closed at 160.30 lookin like it wants more , have to sleep sometime damn Lakers.
  • #33,029
  • Jun 10, 2009 6:17am Jun 10, 2009 6:17am
Quoting supremeChaos
4fun,
I hope u are aware that a divergence signal (from any oscillator such as MACD, RSI, Stoch etc) doesn't exactly equate to a trade signal. it is more of an alert than a trade signal. An alert in the sense that it may present a trade in the near future.
but at times, a divergence just means a slowdown in momentum of the current trend, but does not necessarily mean that that current trend has already ended --- the trend may just be in a temporary pause.

hope some of u can still learn from these:
[url="http://www.forexfactory.com/www.earnforex.com/forex_e-books/advanced_forex_trading/Trend_vs_no_trend.pdf"]Trend...
Was lookin at macd on different timeframes and saw that rarely ever play 15m except on E/U when its stuck in a tight area between major ppz and a proven fib Ill play some 15m pins with the nice 2 pip spread ive actually done quite well.A/U 7pips on my feed Ill pass.Look at G/J I would like to buy a dip this thing looks really bullish might see 165 at this pace soon!
  • #33,030
  • Jun 10, 2009 6:20am Jun 10, 2009 6:20am
Quoting Shermenator
Alright I am short....I will watch price action as it unfolds

Attachment
Closed it ...to much buying still in the market...Will wait for more price action again
  • #33,031
  • Jun 10, 2009 6:23am Jun 10, 2009 6:23am
Quoting Shermenator
Closed it ...to much buying still in the market...Will wait for more price action again
This bull is relentless ...

can someone clock me if i try to go against the trend in this current market !
  • #33,032
  • Jun 10, 2009 6:33am Jun 10, 2009 6:33am
The GU had a DIBS on the 1h with a breakout up
  • #33,033
  • Jun 10, 2009 6:52am Jun 10, 2009 6:52am
I was really liken that G/U weekly pin last Sunday and was lookin to play it on a retrace which after blowing past the 61 fib @ 1.6384 is toast and realize for me personally day trades are so so much eaiser, especially with our friend the trend.Ill stay aware of the weekly bars but the day is where I seem to make pips, these weeklys against the trend are more trouble than they are worth and can be a distraction from my personal experience. Ofcourse there will be those people that make a ton from um guess it all comes down to comfort and what works for each individual.
  • #33,034
  • Jun 10, 2009 7:09am Jun 10, 2009 7:09am
4hr chart of last weeks pin I shouldnt of said toast in my previous post but it really needs to reverse, yes I am aware it really isnt toast till the high gets taken out quite the rascal though.
Attached Image
  • #33,035
  • Jun 10, 2009 7:25am Jun 10, 2009 7:25am
Ok 4hr chart with todays fibs, this pair seems to have lots of toro juice, lookin for a dip to go long, would like 160 hehe its worth watching seems more new highs to come if i get a good seat try to hold til 165 see what pa says about all this.
Attached Image
  • #33,036
  • Jun 10, 2009 7:30am Jun 10, 2009 7:30am
Quoting pipmyride
This bull is relentless ...

can someone clock me if i try to go against the trend in this current market !
clock as in ? because trading against the trend will do that for you! im sure there's a quip about people riding bulls but not bears in there somewhere!

Lakey
  • #33,037
  • Jun 10, 2009 7:53am Jun 10, 2009 7:53am
Quoting pipmyride
This bull is relentless ...

can someone clock me if i try to go against the trend in this current market !
Sherm has his way of doing it, it's not aimed at trend reversals all the time anyways.

I believe . . .
  • #33,038
  • Jun 10, 2009 9:22am Jun 10, 2009 9:22am
Quoting ghous
Sherm has his way of doing it, it's not aimed at trend reversals all the time anyways.

absolutely - the best ones can make a killing of pips - but geez if they're not right ..
  • #33,039
  • Jun 10, 2009 9:33am Jun 10, 2009 9:33am
Hi Folks

is this a price flip, resistance turning into support (green zone)?

i need to look for price action at this area to go long?

just want to make sure am identifiying price flips correctly


thanks
sohail
Attached Image (click to enlarge)
Click to Enlarge Name: chf.gif Size: 39 KB
  • #33,040
  • Jun 10, 2009 9:40am Jun 10, 2009 9:40am
Quoting Sohail786
Hi Folks

is this a price flip, resistance turning into support (green zone)?

i need to look for price action at this area to go long?

just want to make sure am identifiying price flips correctly


thanks
sohail
It is correct!
31 traders viewing now