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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

  • #48,741
  • Nov 26, 2009 3:59am Nov 26, 2009 3:59am
Anyone interested in this puppy?

MA Confluence

105.50 to 106:00 PPZ nearby

Linear Trendline confluence

with overall trend
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  • #48,742
  • Nov 26, 2009 4:19am Nov 26, 2009 4:19am
Quoting Scooter17
Anyone interested in this puppy?

MA Confluence

105.50 to 106:00 PPZ nearby

Linear Trendline confluence

with overall trend
i quite like the look of it (although i wont be taking it as i cant be here to watch the trade)
there are some round numbers to be aware of and an area just below and at the low of the pin. i have marked what i am looking at on the charts.
jon
EDIT: there i a nice looking pin on thr gb/us 1h chart also but that is a sharp drop so i would play it very tight indeed!
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PATIENCE... DISCIPLINE
  • #48,743
  • Nov 26, 2009 5:27am Nov 26, 2009 5:27am
Here is my take on the daily for the loonie, I don't usually trade the 1 Hr yet will wait for a sell around 1.0400 as the current daily and yesterdays almost making it to the "2 Day PB" with Thanks giving all around I will wait untill next week, cheers all

Have a great Day

Matt
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Without women, money would have no meaning - Aristotle Onassis
  • #48,744
  • Nov 26, 2009 5:30am Nov 26, 2009 5:30am
Quoting g_j_hook@yah
i quite like the look of it (although i wont be taking it as i cant be here to watch the trade)
there are some round numbers to be aware of and an area just below and at the low of the pin. i have marked what i am looking at on the charts.
jon
EDIT: there i a nice looking pin on thr gb/us 1h chart also but that is a sharp drop so i would play it very tight indeed!
there was and i did indeed gjhook :o) took 2/3rds off the table already.
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  • #48,745
  • Nov 26, 2009 7:21am Nov 26, 2009 7:21am
NZDUSD weekley BEOB is broken. I'm short to the blue highlighted area where 1/2 will be taken off and stop moved.
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Many choose unhappiness over uncertainty.
  • #48,746
  • Edited 8:59am Nov 26, 2009 8:44am | Edited 8:59am
Quoting raczekfx
what?

oh, yeah. It's dirt simple.
...but that's not what statistics tell you...

btw.
(traded live in the pf)
.
BINGO..
.
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  • #48,747
  • Nov 26, 2009 8:47am Nov 26, 2009 8:47am
Quoting raczekfx
BINGO..
.
Nice.
Where did you learn how to do that?
  • #48,748
  • Nov 26, 2009 9:04am Nov 26, 2009 9:04am
Quoting Bemac
Nice.
Where did you learn how to do that?
Memories are buried in time..
I think a 16 year old showed me that. Or perhaps #16 was in his name...
Damn it, I wish I remembered.... something like james or 16... dunno.
I recall, he used to live in TEXAS.... if that helps..
  • #48,749
  • Nov 26, 2009 9:05am Nov 26, 2009 9:05am
Quoting raczekfx
BINGO..
.
unbelievable...
Many choose unhappiness over uncertainty.
  • #48,750
  • Nov 26, 2009 9:10am Nov 26, 2009 9:10am
Quoting raczekfx
BINGO..
.
Awesome, Sir.

Quoting Dan Gilbert
unbelievable...
BELIEVE IT

remember Obama's "Yes we can"...
so yes WE can
  • #48,751
  • Nov 26, 2009 9:42am Nov 26, 2009 9:42am
Quoting raczekfx
BINGO..
.
Hi Raczekfx

I do not mean to be rude or anything, I am new to this forum. Would you mind telling us why are you posting the charts after the fact?

It doesnt really help the forum people in their trading.

Xtrader
  • #48,752
  • Nov 26, 2009 9:49am Nov 26, 2009 9:49am
I know there is no Right or Wrong, I just wondered,

Which oscillator do people prefer to use to look for divergence?
  • #48,753
  • Nov 26, 2009 9:52am Nov 26, 2009 9:52am
Quoting xtrader88878
It doesnt really help the forum people in their trading.
Oh but it does..... These teachers don't catch a fish for you.
Many choose unhappiness over uncertainty.
  • #48,754
  • Nov 26, 2009 9:54am Nov 26, 2009 9:54am
Quoting xtrader88878
Hi Raczekfx

I do not mean to be rude or anything, I am new to this forum. Would you mind telling us why are you posting the charts after the fact?

It doesnt really help the forum people in their trading.

Xtrader

the other thing is, the yen consolidation was discussed extensively as it was happening. I think most of the people who read this thread caught SOMETHING with at least one of the yen crosses. I know I did.
Many choose unhappiness over uncertainty.
  • #48,755
  • Nov 26, 2009 10:05am Nov 26, 2009 10:05am
Quoting xtrader88878
Hi Raczekfx
I do not mean to be rude or anything, I am new to this forum. Would you mind telling us why are you posting the charts after the fact?
It doesnt really help the forum people in their trading.
Hi & welcome

since u are new, better read up on ALL his previous posts. highly recommended.

& on the contrary, it DOES help even if it looks "after the fact" to u/us. u just have to change your mindset & open your eyes & learn whatever u can (whether posted chart/s is/are after the fact or not).

we just have to feel blessed & grateful that people like james16, raczekfx & all senior traders here are generous to share their time, no matter how short or extensive it may be, with us.

Good luck!
  • #48,756
  • Nov 26, 2009 10:08am Nov 26, 2009 10:08am
Quoting MattW
I know there is no Right or Wrong, I just wondered,
Which oscillator do people prefer to use to look for divergence?
u can use any that u prefer/feel most comfortable using, but several here use mostly MACD &/or RSI.
senior traders here use MACD & RSI so u can start with these 2 or just choose 1 from these.

Try & emulate the best of the best. To be successful, do what successful people do.
  • #48,757
  • Nov 26, 2009 10:23am Nov 26, 2009 10:23am
Quoting supremeChaos
u can use any that u prefer/feel most comfortable using, but several here use mostly MACD &/or RSI.
senior traders here use MACD & RSI so u can start with these 2 or just choose 1 from these.

Try & emulate the best of the best. To be successful, do what successful people do.
I'm going to give my newb input on this: divergence is very secondary to PA and PPZ's, BUT - - I think the RSI is better for short term swings, while MACD is better for long term swings. RSI seems too jumpy sometimes for the more distant high's and low's.
Many choose unhappiness over uncertainty.
  • #48,758
  • Nov 26, 2009 10:26am Nov 26, 2009 10:26am
Quoting raczekfx
BINGO..
.
Missed that one - staring me in the face - zooming out see a break out from a wedge? (Newbie still learning)

Thanks

JS
  • #48,759
  • Nov 26, 2009 10:35am Nov 26, 2009 10:35am
the EURAUD daily pin failed. BUT, I think this is a very important note.... see image below. Listen to the gurus people...

NOTE: this was done on demo! no real money was lost!
Attached Image
Many choose unhappiness over uncertainty.
  • #48,760
  • Nov 26, 2009 10:49am Nov 26, 2009 10:49am
Quoting jspeakman
Missed that one - staring me in the face - zooming out see a break out from a wedge? (Newbie still learning)

Thanks

JS
Hey JS

Yeah this was a pretty clean easy breakout of a very tight wedge. Many of us played a break or a sell near the 150 area. This is how I played it. You could have a fairly tight stop like Rzczefx did as well. He held his much more long. I took profit way earlier


Just wanted to wish everyone a Happy Thanksgiving.


Take care all
Mike
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