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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

  • #44,841
  • Sep 29, 2009 4:50am Sep 29, 2009 4:50am
Am also in this trade, Long and wondering where u got in....unless u moved to the 4-hr retracement entry..........

Am also long the UJ....nothinh much....Lets wait and see.......

Cheers

Quoting pipmyride
GBP/CHF ...

what do u think ?
  • #44,842
  • Sep 29, 2009 5:11am Sep 29, 2009 5:11am
E/G and G/CHF daily pb looks good yet
  • #44,843
  • Sep 29, 2009 5:17am Sep 29, 2009 5:17am
Yeh G/C back in action ...
  • #44,844
  • Sep 29, 2009 5:44am Sep 29, 2009 5:44am
Quoting jarroo
Price Action Rules!

I love when Price fullfills itself right where we knew it would. (Daily chart)

...
of course it does...
not for everyone though... but... who cares..

http://www.forexfactory.com/news.php...28#post3099255

If I saw the word 'EVERYBODY attention....' in there, I would've bet the house, not just the windows....
  • #44,845
  • Sep 29, 2009 6:15am Sep 29, 2009 6:15am
Quoting raczekfx
of course it does...
not for everyone though... but... who cares..

http://www.forexfactory.com/news.php...28#post3099255

If I saw the word 'EVERYBODY attention....' in there, I would've bet the house, not just the windows....
  • #44,846
  • Sep 29, 2009 6:28am Sep 29, 2009 6:28am
Short off the daily pin is at hourly support...looking for it to drop to the daily PPZ area of .9080 ...will take profit at this area (stop moved to b/e at the moment).
  • #44,847
  • Sep 29, 2009 7:17am Sep 29, 2009 7:17am
Quoting fxvision
Hey guys

Not sure you have covered these but I am trading these very nice pin bars. Good luck out there.

FXV
Too easy my friend. I'm not in the UJ, but I really don't see why anyone would have NOT taken that eur/gbp. That's the most solid looking pin I've seen in a while. Other than that, I liked the 4 hours of last night's e/u to short, usd/chf to long, and now today's usd/cad to long. Twas a fair night. lol U/J, IMO, is running right into that brick wall at 90 to 90.35ish.

I think we'll see a retrace yet on that usd/cad to enter more onto a safe position. Time will tell.
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I dream, therefore I become.
  • #44,848
  • Sep 29, 2009 7:34am Sep 29, 2009 7:34am
lol i looked everywhere for that PB :O:O
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  • #44,849
  • Sep 29, 2009 9:42am Sep 29, 2009 9:42am
been away for a while but nice to be back for a pin like this... all you have to do is what they say to do and the points come in - wait for he decent setups.
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  • #44,850
  • Sep 29, 2009 9:56am Sep 29, 2009 9:56am
Quoting mike w
Too easy my friend. I'm not in the UJ, but I really don't see why anyone would have NOT taken that eur/gbp.
I've got a reason on my order screen. I'll be waiting a Loooooooong time for GBPCHF to break down through .9180 anyway.

("Don't know", ...before anyone asks how I managed that. lol)
Bundy's status today: "Waiting..."
  • #44,851
  • Sep 29, 2009 9:57am Sep 29, 2009 9:57am
Quoting mike w
Too easy my friend. I'm not in the UJ, but I really don't see why anyone would have NOT taken that eur/gbp. That's the most solid looking pin I've seen in a while. Other than that, I liked the 4 hours of last night's e/u to short, usd/chf to long, and now today's usd/cad to long. Twas a fair night. lol U/J, IMO, is running right into that brick wall at 90 to 90.35ish.

I think we'll see a retrace yet on that usd/cad to enter more onto a safe position. Time will tell.
hmm..hard imagine..we got exactly same view for ucad/uchf..
i'm just a newbie. but you are celebrities
  • #44,852
  • Sep 29, 2009 10:42am Sep 29, 2009 10:42am
Quoting bundyraider
I've got a reason on my order screen. I'll be waiting a Loooooooong time for GBPCHF to break down through .9180 anyway.

("Don't know", ...before anyone asks how I managed that. lol)
I thought I was the only person who had done that.



When I did it I zoomed out and saw exactly where my order line was. That was fun.
  • #44,853
  • Sep 29, 2009 11:23am Sep 29, 2009 11:23am
Damn, I passed on the EURGPB Daily PB, which looking back was a great set-up.

Damnit, congrads to all of you who took it.
  • #44,854
  • Sep 29, 2009 11:34am Sep 29, 2009 11:34am
Nice day. Got 50pips from AUDJPY daily pb and 108pips from GBPCHF daily pb.
  • #44,855
  • Sep 29, 2009 11:45am Sep 29, 2009 11:45am
Quoting FinnTrader
Nice day. Got 50pips from AUDJPY daily pb and 108pips from GBPCHF daily pb.
Very nice

Also glad to see many of you manage these bars the proper way.

The best of the best IMO was the eur/gbp simply based on size but the others all got to and/or past the first trouble areas like James16 teaches


Mike
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  • #44,856
  • Sep 29, 2009 12:00pm Sep 29, 2009 12:00pm
It occurs to me that Trading is a lot like golf.

A lot of golfers either thrive on the long ball or the short game. Me, I like the long ball, because no one ever oohs and ahs over a putt, but a 350 yard smoker gets the admiration of all.

Are you still with me?

I once hit a 420 yard drive, and rolled it 6 feet from the pin. Hit it with a 3 wood too. It was the Mother of All Drives and the flight was worthy of an ESPN Play of the Day. My friends still talk about it, and the guys on the green it rolled up to waited to ask me if I did that a lot. Of course I said - yes.

I then proceeded to three putt for par...


How is this like trading?

Some traders play for the high multiple R trades. They might get a bunch of BE or tiny losses before they snag it. (Long hitters)

Some look at the chart, and see .5R sitting there for easy pickens and take these all the time with few losses. (Short gamers)

It seems to me that not many people can do both well because it is not easy to tell how much room you'll eventually have on a trade, so many just play a side. Both are correct, and both are managed differently.

Golf and trading. Who'd a thunk it??? Well, I did.

Back to our regularly scheduled programming.
I'm pretty much done with all this ...
  • #44,857
  • Sep 29, 2009 12:10pm Sep 29, 2009 12:10pm
Quoting StoragePro
It occurs to me that Trading is a lot like golf.

A lot of golfers either thrive on the long ball or the short game....
awesome SP!

Yep, turn on any PGA event. Look at all the different styles/swings/putters/clubs

Trading is no different. I said this to someone in a post today. This is both a good thing, because we have many options(that is how I look at it NOW). But when learning this causes overtrading/confusion b/c we try to do too much. Do a few things good and work from there

All I picture is soft elevator music, SP in a sweater drinking a scotch, and a gentle womans voice say. "And now thoughts from SP". "this has been thoughts from SP". LOL

Mike
  • #44,858
  • Sep 29, 2009 12:13pm Sep 29, 2009 12:13pm
Quoting StoragePro
It occurs to me that Trading is a lot like golf...
I totally agree with you I dont play golf but i got the similarity. It really makes sense. I wish I was Tiger Woods on the FOREX . So...

While watching all day different charts what really take my look was that price loves to go and retest the recent highs/lows/ppz. So my point is that it is better to manage our trade by recent highs/lows/ppz. Of course we should not ignore the MAJOR ppz. It is just my view. I would like to see what the others think about that just of curiosity Oh.. and btw joel your posts makes me think about many things, other make me say wth and others ... i am just headbanging my head while i am laughing Keep it up
  • #44,859
  • Sep 29, 2009 12:35pm Sep 29, 2009 12:35pm
Quoting mbqb11
awesome SP!

Yep, turn on any PGA event....


You had till the sweater... more likely to be in a t-shirt (stained) with a hole in the front where I open my bottle of beer...

But, man - you are correct. A few things very well, add with extreme care over time. Stop adding when you hit your stride.

My stuff - Simple PA; PPZ's horizontal breakouts; ICCE. Rinse, wash, repeat.
I'm pretty much done with all this ...
  • #44,860
  • Sep 29, 2009 12:40pm Sep 29, 2009 12:40pm
Quoting lacika
Hi, SP!
Can You share with Us that unavoidable one, with some thought process?
THX, NL
Hi, SP!
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