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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

  • #36,841
  • Jul 8, 2009 10:16pm Jul 8, 2009 10:16pm
Quoting pipmyride


Did anyone else take it ??
Took GBP/JPY in demo (since I'm in NZD/JPY Live), I'm still in with a 151.00 target. 50% & 78.6 fibs overlap on a round number and previous support area.

Nice trade, bro.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #36,842
  • Jul 8, 2009 10:36pm Jul 8, 2009 10:36pm
Quoting pipmyride


Did anyone else take it ??
yep I did and im still in on both EURJPY and GBPJPY with stops at BE
Grabbing the bull by the horns!
  • #36,843
  • Jul 8, 2009 11:02pm Jul 8, 2009 11:02pm

Didnt wanna be the only one
  • #36,844
  • Jul 8, 2009 11:03pm Jul 8, 2009 11:03pm
Short USD/JPY, now time for a joke before sleep...


A very tired nurse walks into a bank,

Totally exhausted after an 18-hour shift.

Preparing to write a check,

She pulls a rectal thermometer out of her purse

And tries to write with it.

When she realizes her mistake,

She looks at the flabbergasted teller

And without missing a beat, she says:

'Well, that's great....that's just great...
Some asshole's got my pen!'
Keep taking CT trades, I need more money
  • #36,845
  • Jul 8, 2009 11:21pm Jul 8, 2009 11:21pm
Quoting Ryanmcd
Short USD/JPY, now time for a joke before sleep...


A very tired nurse walks into a bank,

Totally exhausted after an 18-hour shift.

Preparing to write a check,

She pulls a rectal thermometer out of her purse

And tries to write with it.

When she realizes her mistake,

She looks at the flabbergasted teller

And without missing a beat, she says:

'Well, that's great....that's just great...
Some asshole's got my pen!'

hahahah great
  • #36,846
  • Jul 8, 2009 11:24pm Jul 8, 2009 11:24pm
Quoting Ryanmcd
Short USD/JPY, now time for a joke before sleep...


A very tired nurse walks into a bank,

Totally exhausted after an 18-hour shift.

Preparing to write a check,

She pulls a rectal thermometer out of her purse

And tries to write with it.

When she realizes her mistake,

She looks at the flabbergasted teller

And without missing a beat, she says:

'Well, that's great....that's just great...
Some asshole's got my pen!'
ç

LOL i didn't know it.. thanks for the laugh!!

Rest well mate

Cheers

Mat
  • #36,847
  • Jul 9, 2009 12:25am Jul 9, 2009 12:25am
I just wanted to stop by, say hello, and welcome everyone to the first official week of wave 5!

Cheers and let's get some
  • #36,848
  • Jul 9, 2009 12:33am Jul 9, 2009 12:33am
BoE meeting today. Can we tell through price action which way the GBP will move after the rate announcement? You think insiders have already placed their bets? How cool would it be to be able to read the "foot prints in the sand"...
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #36,849
  • Jul 9, 2009 12:37am Jul 9, 2009 12:37am
Quoting LasVahGoose
BoE meeting today. Can we tell through price action which way the GBP will move after the rate announcement? You think insiders have already placed their bets? How cool would it be to be able to read the "foot prints in the sand"...
I think we read them months ago and they said the same thing then as they're saying now. Maybe Soros decided to work this summer.
  • #36,850
  • Jul 9, 2009 12:50am Jul 9, 2009 12:50am
Quoting sleep1Iopen
I just wanted to stop by, say hello, and welcome everyone to the first official week of wave 5!

Cheers and let's get some
Hey Sleep Open!
What does it mean by WAVE 5! Elliot or something (on which pair)?
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #36,851
  • Jul 9, 2009 12:56am Jul 9, 2009 12:56am
Quoting sleep1Iopen
I just wanted to stop by, say hello, and welcome everyone to the first official week of wave 5!

Cheers and let's get some
just to bring you up on your bi-line thing...

5% a month = roughly 80% a year or 1768% in 5 years

gotta love compounding

tell ya whats scary, starting off with $20,000 and compounding 8% a month (roughly 2% a week - so very acheivable) and over 10 years without adding any extra funds it equates to $205 million dollars...

10% a month = close to $2b over 10 years
5% a month = approx $7m over 10 years
Grabbing the bull by the horns!
  • #36,852
  • Jul 9, 2009 1:09am Jul 9, 2009 1:09am
Quoting whitegoodman
just to bring you up on your bi-line thing...

5% a month = roughly 80% a year or 1768% in 5 years

gotta love compounding

tell ya whats scary, starting off with $20,000 and compounding 8% a month (roughly 2% a week - so very acheivable) and over 10 years without adding any extra funds it equates to $205 million dollars...

10% a month = close to $2b over 10 years
5% a month = approx $7m over 10 years
Simple math now, I'm not to good with numbers.
  • #36,853
  • Jul 9, 2009 1:47am Jul 9, 2009 1:47am
lets watch it.

its similar to my ym bar.

not the best pin bar ever ( has that neutral bar look to it. no long nose) but i would bet you get a test of 900 if it breaks.

i made the comment a while back that if the dow closed under 8200 then 8000 would just be a bump in the road on the way down.

well its under 8200.

82 should act as near term resistance and 8000 is in big trouble imho.

we will know by the time of my return.

jim





Quoting enculée
Here you go, thanks! The H&S makes me hesitant...Although there is confluence with the 200 daily SMA (not shown)

http://img.skitch.com/20090709-ksq5t...ga23ffki6b.jpg
  • #36,854
  • Jul 9, 2009 1:48am Jul 9, 2009 1:48am
Quoting whitegoodman
just to bring you up on your bi-line thing...

5% a month = roughly 80% a year or 1768% in 5 years

gotta love compounding

tell ya whats scary, starting off with $20,000 and compounding 8% a month (roughly 2% a week - so very acheivable) and over 10 years without adding any extra funds it equates to $205 million dollars...

10% a month = close to $2b over 10 years
5% a month = approx $7m over 10 years
wow thats some coincidence!! i was messing around with the numbers last night! lol BUT i made it about 71% per annum on 5% a month?( it was late though)
2500$ account over three years of 5% per month = about 13,000!!!
Add a couple of tins of bear spray and your reaching 20 or 30,000!!!!

jon
EDIT: also with the interest paid by the brokers that 5% gets a little easier.
PATIENCE... DISCIPLINE
  • #36,855
  • Jul 9, 2009 3:08am Jul 9, 2009 3:08am
Quoting LasVahGoose
Took GBP/JPY in demo (since I'm in NZD/JPY Live), I'm still in with a 151.00 target. 50% & 78.6 fibs overlap on a round number and previous support area.

Nice trade, bro.

Closed out GBP/JPY. Still hanging on to my NZD/JPY.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #36,856
  • Jul 9, 2009 3:10am Jul 9, 2009 3:10am
Quoting ljr
Looking at that too. Thats a good level from the Weekly. On my 4H IG feed (close at 24h00 UK time) there are 2 IBs that closed below that level. I think if this is going to turn down its going to happen here.

If it breaks up I'll wait for the retest.
Keeping an eye on this on the hourly.
A break down through 0.8615 may be worth consideration.
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  • #36,857
  • Jul 9, 2009 3:11am Jul 9, 2009 3:11am
NZD/JPY Trade. In on break of 4hr pin bar.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #36,858
  • Jul 9, 2009 3:37am Jul 9, 2009 3:37am
Quote
A very tired nurse walks into a bank,

Totally exhausted after an 18-hour shift.

Preparing to write a check,

She pulls a rectal thermometer out of her purse

And tries to write with it.

When she realizes her mistake,

She looks at the flabbergasted teller

And without missing a beat, she says:

'Well, that's great....that's just great...

lol!!!! now thats funny
  • #36,859
  • Jul 9, 2009 5:06am Jul 9, 2009 5:06am
Quoting g_j_hook@yah
Hi Basber, the rise in the eu/gb may not reflect a strong euro, it could be just that the gb is weaker in comparison. also from what i read(not experience or tested fully yet) the eu/yen is more likely to mirror the gb/yen rather than the eu.gb. Since jan of this year the gb/yen has risen about 30% and the eu/yen about 20-25%in the same period.
just some food for thought
jon
Hi,
I Know That. I Meant The Comparison. Comparing GBP/JPY And EUR/JPY, I Took EUR, Because Of The Trend Line In EUR/GBP. I Know If E/G Is Up, It Don't Show Us A Strong Eur, But When I Want To Go Long EUR Or GBP, I Rather To Go In The Trade With The Stronger One Against The Other One. In This Case (At Last It Didn't Make Any Different ! Both Retraced Well) I Preffered EUR Because It Was Stronger.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #36,860
  • Edited 6:21am Jul 9, 2009 5:15am | Edited 6:21am
Quoting Basber
I've Got This PB, Any Comments ?

Regards,
Basber
After It Reaches +35 Pips, I Brought SL To BE, Then :
I Took +134 Pips @ 129.90 (TP1) - Then Put SL At +70 Pips.
And Another +55 Pips (Total +189Pips) At 50% Fib (130.45)

Not Bad For An Asia Session

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
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