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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

  • #43,101
  • Sep 4, 2009 7:02am Sep 4, 2009 7:02am
Quoting benji533
HAHAHA now this trade is on the right track

That PZZ should act as resistance now. hehe I like this

Ben

did you get in on this one ben
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Simplicity is the key to success
  • #43,102
  • Sep 4, 2009 7:12am Sep 4, 2009 7:12am
Quoting squeezy
did you get in on this one ben
Cool trade squeezy
I didn't even see this chart.

Use the PPZs and round numbers in the area to manage it right.
No way you get out with a loose on this

Ben
  • #43,103
  • Sep 4, 2009 7:24am Sep 4, 2009 7:24am
CAD/JPY AT 85000 let's wait for some PA right?
  • #43,104
  • Sep 4, 2009 7:30am Sep 4, 2009 7:30am
Quoting Radsson
CAD/JPY AT 85000 let's wait for some PA right?
Yep
But only bearish pitbull PA with the trend.
Take into account it's Friday.

Ben
  • #43,105
  • Sep 4, 2009 7:40am Sep 4, 2009 7:40am
Quoting benji533
Yep
But only bearish pitbull PA with the trend.
Take into account it's Friday.

Ben
ohh my goodness....crazy things happen on these levels withing seconds. Lets see how this closes.

Ben
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  • #43,106
  • Sep 4, 2009 7:54am Sep 4, 2009 7:54am
No, that's 'freaky friday' and the Non-Farm Report

It does somewhat mess with ones charts though eh!?

Quoting benji533
ohh my goodness....crazy things happen on these levels withing seconds. Lets see how this closes.

Ben
He has the right to criticize who has the heart to help. Abraham Lincoln
  • #43,107
  • Sep 4, 2009 7:55am Sep 4, 2009 7:55am
Quoting benji533
ohh my goodness....crazy things happen on these levels withing seconds. Lets see how this closes.

Ben
It's NFP.
  • #43,108
  • Sep 4, 2009 7:57am Sep 4, 2009 7:57am
got the rob booker email and joined up this morning. not something i usually do and as they were talking i put this on, a little funny. didnt make any pips in the end.
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  • #43,109
  • Sep 4, 2009 8:00am Sep 4, 2009 8:00am
Quoting benji533
Look at the image now.
I am aware of that support from the left. I had enough room to move my stop to BE before it gets there - and I also know that if it breaks that support, it will become resistance and I can enjoy a nice trade to hold - my target.

Ben
Got it thanks.

But my turn is now i would like to see BUOB or a PB here.
  • #43,110
  • Sep 4, 2009 8:03am Sep 4, 2009 8:03am
Quoting Jim4x
No, that's 'freaky friday' and the Non-Farm Report

It does somewhat mess with ones charts though eh!?
Tell you the trough - my understanding of news and reports is ZERO.
How do you know when these reports get out anyway?

All I see on my chart is a major round number lol.

I'm still in the trade

Ben
  • #43,111
  • Sep 4, 2009 8:05am Sep 4, 2009 8:05am
Quoting james16
update.
how do you decide if to take the rest at the 38 or to watch it blow thru ?
  • #43,112
  • Sep 4, 2009 8:08am Sep 4, 2009 8:08am
Quoting 4X=0
how do you decide if to take the rest at the 38 or to watch it blow thru ?
after reading the post again i retract my question. the NFP and the coffee got me going wooh
  • #43,113
  • Sep 4, 2009 8:14am Sep 4, 2009 8:14am
Quoting benji533
Tell you the trough - my understanding of news and reports is ZERO.
How do you know when these reports get out anyway?

All I see on my chart is a major round number lol.

I'm still in the trade

Ben

lol, i actually forgot today was nfp ...was just trading my charts
just closed my usdchf long at the blue box area(wldnt mind following it down if i get the proper pa ofcourse, wat a pity got stopped out on my eurusd(and it went exactly where i originally planned to exit....i knew where to hide my Sl....and it wldnt have been hit...
even if it was ....wld hav lost just 0.1 ish %
havnt seen so many trading oppurtunities in one day.....lol
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Simplicity is the key to success
  • #43,114
  • Sep 4, 2009 8:18am Sep 4, 2009 8:18am
Quoting squeezy
a quick question rac, i know u wld hav had your Sl above 61 fib but how many pips above ...
stop was set @ 4385
  • #43,115
  • Sep 4, 2009 8:28am Sep 4, 2009 8:28am
Hey Ben check this site out for new report times.

http://www.babypips.com/tools/

There might be something better out there but this is a start.




Quoting benji533
Tell you the trough - my understanding of news and reports is ZERO.
How do you know when these reports get out anyway?

All I see on my chart is a major round number lol.

I'm still in the trade

Ben
  • #43,116
  • Sep 4, 2009 8:29am Sep 4, 2009 8:29am
Quote
How do you know when these reports get out anyway?

benji check the forexfactory calendar, bro
  • #43,117
  • Sep 4, 2009 8:31am Sep 4, 2009 8:31am
Quoting Punky
Hey Ben check this site out for new report times.

http://www.babypips.com/tools/

There might be something better out there but this is a start.

Hey Punky and 4X=0,

Not sure how much I'll use these things, but thanks for the input anyway

Ben
  • #43,118
  • Sep 4, 2009 8:36am Sep 4, 2009 8:36am
Quoting raczekfx
stop was set @ 4385

aha, i knew it .... i knew it
seriously i knew it....lol

thnx for that piece of info....
going to use this weekend to ponder some more...lol
thnx R (Rac attack) lol
Simplicity is the key to success
  • #43,119
  • Sep 4, 2009 8:46am Sep 4, 2009 8:46am
Quoting benji533
Hey Punky and 4X=0,

Not sure how much I'll use these things, but thanks for the input anyway

Ben
By the way, not sure what news mean to you, but that large news bar done exactly what I have predicted one hour earlier. Check my chart with the orange prediction of where price might go. It pulled back exactly to the level I have pointed out, and shot down to the last level, like my prediction line pointed out.

So I didn't get frightened when it pulled back. There will always be pullbacks to recent support that was broken and now should be resistance.
Now I am close to 5R in this trade and price continues to go in my favor. During the time I am writing this post, price broke the last support line in the area. I am no waiting for the pullback and hopefully shoot down.

Is this coincidence the news drove price as I thought by analyzing the charts? This is interesting.

Ben
  • #43,120
  • Sep 4, 2009 8:57am Sep 4, 2009 8:57am
Quoting benji533
By the way, not sure what news mean to you, but that large news bar done exactly what I have predicted one hour earlier. Check my chart with the orange prediction of where price might go. It pulled back exactly to the level I have pointed out, and shot down to the last level, like my prediction line pointed out.

So I didn't get frightened when it pulled back. There will always be pullbacks to recent support that was broken and now should be resistance.
Now I am close to 5R in this trade and price continues to go in my favor. During the time...
No this one hour has nothing to do with predictions checkout some previous times of NFP release.

Swing high, Dropping from a PPZ and some divergence at MACD.
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