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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

  • #42,081
  • Edited 9:33pm Aug 25, 2009 8:53pm | Edited 9:33pm
Hello, I have a double bar low with a higher closer then must I open a long trade like below?
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  • #42,082
  • Aug 25, 2009 8:55pm Aug 25, 2009 8:55pm
Quoting Thierry89
Hello, I have a double bar low with a higher closer then must I open a long trade like below?
Yes - that is correct - but I'd stick to the quieter time frames of the daily and weekly while you learn. Just scroll back to the charts and pick up every PB, Outside Bar etc and see where they run to. (Hint - a PPZ, but sometimes they run and run and run....)
I'm pretty much done with all this ...
  • #42,083
  • Aug 25, 2009 9:10pm Aug 25, 2009 9:10pm
Quoting Thierry89
Hello, I have a double bar low with a higher closer then must I open a long trade like below?
Yes I agree with SP...but hey...nice bright chart....I can see that one very clear...some charts posted look like trick or treats on holloween night...

GregB
  • #42,084
  • Aug 25, 2009 9:37pm Aug 25, 2009 9:37pm
Quoting benji533
Who is rac?
He's nobody..., but I remember one thing about him...

He'll short when you long, and will long when you short, especially yen crosses...
  • #42,085
  • Aug 25, 2009 10:02pm Aug 25, 2009 10:02pm
Quoting raczekfx
He's nobody..., but I remember one thing about him...

He'll short when you long, and will long when you short, especially yen crosses...
LOL

That means...I'm too bad, or you are too good...or..

Nice to meet you rac

Ben
  • #42,086
  • Aug 25, 2009 10:07pm Aug 25, 2009 10:07pm
benji533,
u have summoned the phoenix.


Quote
He'll short when you long, and will long when you short, especially yen crosses...
u now see why he's my idol.
  • #42,087
  • Aug 25, 2009 10:14pm Aug 25, 2009 10:14pm
Quoting batesmotel
Whoever it was (I can't remember at the moment) that shorted the GU off of weekly PB, nice trade!! All systems are "GO", as long as she doesn't decide to bounce off of lower channel TL....it seems that it could be a runner....if only she can break thru 1.6200...I would like to hop in on a retrace...we shall see.

GregB



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Indicators show the past. Price Action "Indicates" the future.
  • #42,088
  • Aug 25, 2009 10:20pm Aug 25, 2009 10:20pm
OH HES SOMEBODY ALLRIGHT.

dont let him kid you.



Quoting raczekfx
He's nobody..., but I remember one thing about him...

He'll short when you long, and will long when you short, especially yen crosses...
  • #42,089
  • Aug 25, 2009 10:21pm Aug 25, 2009 10:21pm
Quoting jarroo
Hey guys I respect your pickiness. But I put this one in the "A" catagory.
And the Fundies are in line with this short....it's only a matter of time till the GU melts out, IMO.

EURGBP Long may also be in order when considering that "dirty" word..."Fundies"...

GregB
  • #42,090
  • Aug 25, 2009 10:22pm Aug 25, 2009 10:22pm
Quoting batesmotel
And the Fundies are in line with this short....it's only a matter of time till the GU melts out, IMO.

EURGBP Long may also be in order when considering that "dirty" word..."Fundies"...

GregB

What are "Fundies"?

Oh yeah . . . .(just kidding).
Indicators show the past. Price Action "Indicates" the future.
  • #42,091
  • Aug 25, 2009 10:35pm Aug 25, 2009 10:35pm
Why do these present themselves when I'm not around?

I think I'm going to get a pitbull this week.
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Indicators show the past. Price Action "Indicates" the future.
  • #42,092
  • Aug 25, 2009 10:42pm Aug 25, 2009 10:42pm
Quote
Why do these present themselves when I'm not around?



My morning outlook on EJ. Good trading all!
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Always wait for the opportune moment… just be careful not to miss it.
  • #42,093
  • Aug 25, 2009 10:46pm Aug 25, 2009 10:46pm
Quoting fxvision


My morning outlook on EJ. Good trading all!
Looks like the squeeze is on.

Thanks fxv.
Indicators show the past. Price Action "Indicates" the future.
  • #42,094
  • Aug 25, 2009 10:47pm Aug 25, 2009 10:47pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
everything seems congesting, why is this happenning ? coz holiday season ?
  • #42,095
  • Aug 25, 2009 10:57pm Aug 25, 2009 10:57pm
Quoting krue
everything seems congesting, why is this happenning ? coz holiday season ?
Tomorrow should shake things up....good reports coming out starting at 4am EST

1. EUR German Ifo Business Climate 4am est
2. CAD Core Durable Goods Orders m/m 8:30am est
3. USD New Home Sales 10am est*** (if this one doesn't "Beat the Street"), then there could be another wave of USD weakness...

GregB
  • #42,096
  • Aug 25, 2009 10:58pm Aug 25, 2009 10:58pm
Quoting krue
everything seems congesting, why is this happenning ? coz holiday season ?
Ima draw a picture. It isnt a Monet; it is more like a crayon drawing. But...

The S&P is at a precarious place at the moment - the rally, fuelled largely on speculation and hope, has petered out. Is it overbought? Is there more bad news? No one is certain - even Ben is 'cautiously optimistic'. The broad sentiment is that recovery has begun, and the worst is over... but the majority of the rally was simply a correction of the massive overselling. So you have a healthy dose of fear and doubt, but mixed in with enough optimism and positive data that we are at a bit of a crossroads, waiting for either the train or the devil to appear.

In the recent environment, S&P has been leading currencies around like a shetland pony. Bad news about Goldman translates to fear in the S&P, which pushes up risk-aversion currencies (yen, franc and usd) and pushes down speculative ones (the aussie is the most obvious one affected here). So any move in currencies is probably going to be a result of S&P movements - and, as above, there havent been much of them lately.

Then, tying it all together, this is a very light data week, with not much of consequence - and so people are just being cautious. No one wants to take big positions into uncertainty. Home sales could change that. Maybe. But they arent as important as they once were.

Wait, did someone say fundies? Erm, I meant... something about a second elliot wave retracement to an astropivot EMA on the RSI divergence cross!
When you have to shoot, shoot. Dont talk.
  • #42,097
  • Aug 25, 2009 11:13pm Aug 25, 2009 11:13pm
Quoting joelcf
Wait, did someone say fundies? Erm, I meant... something about a second elliot wave retracement to an astropivot EMA on the RSI divergence cross!
lol....at least someone here doesn't completely discount fundies....I see fundies as just another confluence....if the techs are in confluence AND you can add in another confluence (fundies)....so much the better...

The tricky part is that sometimes the market "seemingly" rejects the fundies and heads in the opposite direction.....but you know one thing for sure....technicals seldom drive the market....they are only a reflection of the fundies all mixed together in a salad bowl....just IMO....

So, techs first, 2nd is fundies that can be considered as valuble info/confirmation...

GregB
  • #42,098
  • Aug 25, 2009 11:16pm Aug 25, 2009 11:16pm
Quoting batesmotel
And the Fundies are in line with this short....it's only a matter of time till the GU melts out, IMO.
EURGBP Long may also be in order when considering that "dirty" word..."Fundies"...
eurgbp long has been in order. check out eurgbp H4 & up charts.
yes, im waiting for the time that gbp & all its crosses will tank. they have been prolonging the tanking too much.
  • #42,099
  • Aug 25, 2009 11:22pm Aug 25, 2009 11:22pm
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
usually i don't do this, very skill demanding system, just for a little adventure while feel boring. didn't expect the spread is so big, first time doing this. not sure if Ryanmcd would agree on my entry point.
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  • #42,100
  • Aug 25, 2009 11:29pm Aug 25, 2009 11:29pm
Quoting krue
usually i don't do this, very skill demanding system, just for a little adventure while feel boring. didn't expect the spread is so big, first time doing this. not sure if Ryanmcd would agree on my entry point.
yeah spread being what it is, the only ones you can really play effectively are the fiber and cable. On year 2 of backtesting the M5 fiber, live demoing the M5 fiber, cable, miniS&P, and miniDJI.
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