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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

  • #35,581
  • Jun 30, 2009 12:50pm Jun 30, 2009 12:50pm
Quoting Matiasfx
Oh boy, what a beauty!!!

Thanks for posting Mark

Have a nice one

Matty
I didn't trade oil, but in these market conditions I use both dj and crude to give me heads up on fiber, cable and yen crosses. You can be 80% right, just by observing these two around ppzs...

cheers, got a move stops and run....
.
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  • #35,582
  • Edited 1:18pm Jun 30, 2009 12:57pm | Edited 1:18pm
Quoting raczekfx
I didn't trade oil, but in these market conditions I use both dj and crude to give me heads up on fiber, cable and yen crosses. You can be 80% right, just by observing these two around ppzs...

cheers, got a move stops and run....
.
Co-relations come next in my blind entries project...but that next could be easily months away lol!

Still focusing on getting my feet wet.

Ghous,
I believe . . .
  • #35,583
  • Jun 30, 2009 1:16pm Jun 30, 2009 1:16pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting mbqb11
Hey Kean

I always place my stop loss at the other end of the bar no matter the trade for me

Best
Mike
Thanks Mike, big help as usual
  • #35,584
  • Jun 30, 2009 1:36pm Jun 30, 2009 1:36pm
Hello,

This may be a bit off topic but for those of you who have taken the game of chess with some seriousness would understand one primordial aspect of the game.... that is pattern recognition. If one aspires to reach the expert level in chess, one looks at thousands of tactical combinations that after lots and lots of hours helps you develop an "intuitive" feel for that winning combination during a real game. Draw a parallel with Forex and one can see that it takes an humongous amount of time looking at PA and its patterns to become a consistent winner (in the long term). Some people call it "the art of trading"... I prefer to see it for what it is.... Practice, Practice, Practice (of the right kind). This is where I would suggest to newcomers that you open a micro account and trade real money until you can execute with some measure of success the patterns that give you the highest probabilities to make $$$. Beyond the mechanics of trading we all need to become "artist" as well. I am still working on it but at least I can see the light at the end of the tunnel!
Unus pro omnibus, omnes pro uno
  • #35,585
  • Jun 30, 2009 1:38pm Jun 30, 2009 1:38pm
Mark, today we have Tankan.... Maybe we know a bias... after today?

thoughts?

Quoting raczekfx
I didn't trade oil, but in these market conditions I use both dj and crude to give me heads up on fiber, cable and yen crosses. You can be 80% right, just by observing these two around ppzs...

cheers, got a move stops and run....
.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #35,586
  • Jun 30, 2009 2:01pm Jun 30, 2009 2:01pm
Quoting ikki
Mark, today we have Tankan.... Maybe we know a bias... after today?

thoughts?
If we get rid of last two letters from that word, maybe we get a clue to a riddle, 'what shall happen to yen crosses?'....
  • #35,587
  • Jun 30, 2009 2:05pm Jun 30, 2009 2:05pm
Hope everyones having a better day than me. Major computer and internet issues lost lots of info and my charts o-well not the end of the world. I should have lots of this stuff backed up. Heres something everyone will find appalling


http://www.fxcm.com/lp3-nfa-fifo.jsp
  • #35,588
  • Jun 30, 2009 2:09pm Jun 30, 2009 2:09pm
Makes ya wonder where it all ends?
  • #35,589
  • Jun 30, 2009 2:38pm Jun 30, 2009 2:38pm
wait is this going to change everything?!?!

Quoting 4fun
Hope everyones having a better day than me. Major computer and internet issues lost lots of info and my charts o-well not the end of the world. I should have lots of this stuff backed up. Heres something everyone will find appalling


http://www.fxcm.com/lp3-nfa-fifo.jsp
  • #35,590
  • Jun 30, 2009 2:53pm Jun 30, 2009 2:53pm
hello sir, pls what is ur name on facebook FF pg,thanks
  • #35,591
  • Jun 30, 2009 3:28pm Jun 30, 2009 3:28pm
Quoting TiaForex
Pretty scary isn't it? In my opinion it makes structure and rules even more important. Like Mike looking specifically at big round numbers. Makes it easier to filter out trades.
Indeed... I got spooked back to the daily until I can spend more time looking at charts 4H
  • #35,592
  • Jun 30, 2009 3:36pm Jun 30, 2009 3:36pm
Quote
This may be a bit off topic


Sounds to me like you are on the right path

Dale
  • #35,593
  • Jun 30, 2009 3:48pm Jun 30, 2009 3:48pm
Maybe for this pair is time to take a breath? Bearish pin/BEOB with target at the blue box...
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  • #35,594
  • Jun 30, 2009 4:09pm Jun 30, 2009 4:09pm
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Anyone on this...any views?
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  • #35,595
  • Jun 30, 2009 4:20pm Jun 30, 2009 4:20pm
Quoting kean
Anyone on this...any views?
IMO this is one of the better PA of the day, most PA on major pairs are showing new highs but no space and most of the Pins or Outside bars has a less impressive protruding high than this one. But the cons are we're facing a large round number on 1.9000, and price is on a definite uptrend since a few weeks ago, I doubt that this will be the top of movement for this pair, might hit PPZ at 1.8950-1.9000 and then continue to move up to retest the high of today's PA, with almost 300 pips stop you can catch a runner from 1.9060-1.9000ish, it's your call, but I can always be wrong and this could be the top, I personally wouldn't trade this. Hope that helps. Marcel.
  • #35,596
  • Jun 30, 2009 4:22pm Jun 30, 2009 4:22pm
Having some pre dinner cocktails in the bar.

The good times continue, and with luck, the GU will wait till thursday at the earliest for a move to start ... ;-)

Yesterday started off fun with coffee and an apple fritter the size of my fricken' head. Cool deli across the street - yum.

Then a short walk to the courthouse to heckle Bernie Madoff as he headed in for his just sentence. Man, those people outside were a lot more vindictive that what the news reports gave them credit for.

More coffee after that. I needed to top off the energy.

A walk to Wall street and the Fed and the NYSE. My twelve year old was not impressed till I reminded him that like Forex, stocks are a thing we put 100 dollars in and get out 110 dollars ... " Ooohhhhh.... That is good then."

Spent time at FAO Schwarz and bought him the "One Ring". Coolness and swank for the 7th grader comes easy.

The afternoon was interesting as we hiked around the wikd places of Central Park. Yes, there are some. It is amazing how you can forget you are in the city in that place.

Late Lunch at the Carnegie Deli (yeah, 'your place' is better).

So dinner tonight. What to do? I am down in the financial district - perhaps a big honkin steak and a debate on financial system reforms with the next table? Hhhmmm, sounds like fun. Some of those Goldman people aren't too smart and are fun to roil. A friend of mine likes to say; "Wealth is often wasted on the rich"

Sure hope the GU waits for me.

Be good. Back in the saddle for me thursday to see if the GU gives me the filthy luchre I need ...
I'm pretty much done with all this ...
  • #35,597
  • Jun 30, 2009 4:22pm Jun 30, 2009 4:22pm
Quoting kean
Anyone on this...any views?
Kean,

I'm going to stay out of this one... The nose to me isn't that compelling compaired to the force of the upward trend. If you do take the trade make note of the support right around the 1.90 area.

Fish
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  • #35,598
  • Jun 30, 2009 4:29pm Jun 30, 2009 4:29pm
Hi,

Long time since I last posted but I saw something that I really wanted to share.



Check out this setup on Cable:

  1. 50% retracement from July 15th 2008 High to Jan 23rd Low
  2. BEOB Bearish Outside Bar at swing high
  3. PPZ turning Oct 10th 2008 support low into new resistance

Also there has been some bad data out for the UK today as well as bad revisions, providing another form of confluence for any fundies out there.

Nick

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The customer is always right!
  • #35,599
  • Jun 30, 2009 4:31pm Jun 30, 2009 4:31pm
Quoting kean
Anyone on this...any views?
Pull a fib from Oct 2008 high to Jan 25th low and Pin is printed at the 61.8 retracement. It's also at the 365ema on daily.

K.I.S.S.
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  • #35,600
  • Jun 30, 2009 4:34pm Jun 30, 2009 4:34pm
Watch your back and front....

Quoting Pipfox
Hi,

Long time since I last posted but I saw something that I really wanted to share.



Check out this setup on Cable:

  1. 50% retracement from July 15th 2008 High to Jan 23rd Low
  2. BEOB Bearish Outside Bar at swing high
  3. PPZ turning Oct 10th 2008 support low into new resistance

Also there has been some bad data out for the UK today as well as bad revisions, providing another form of confluence for any fundies out there.

Nick

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