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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

  • #49,301
  • Dec 6, 2009 10:07pm Dec 6, 2009 10:07pm
Quoting Dan Gilbert
This may be a bad thread/forum to ask a question like this, but where is a good place to buy E-books from???
lol i think you're right about the bad forum !
But, try ebooks.com !
  • #49,302
  • Dec 6, 2009 10:35pm Dec 6, 2009 10:35pm
Quoting Dan Gilbert
This may be a bad thread/forum to ask a question like this, but where is a good place to buy E-books from???
hi dan

try this site its free http://www.pdfgeni.com/ just put in the ebook u want
  • #49,303
  • Dec 6, 2009 11:13pm Dec 6, 2009 11:13pm
Quoting Pipage
Q) Oil and Gold are priced against the US dollar. On Friday, Non Farm Payroll data came out which was better(bullish) than the forcasted results. This result strenghtened the US dollar . Therefore the price of Gold began to drop , however the price of oil went up (if the dollar strengthened the oil price should have also dropped??)
My understanding is that the price of Oil went up because the employment figures were good, more people are in jobs and therefore more oil is reqired by industries/offices heating etc. Am I understanding this correctly?...
Pretty much, yes.

Broadly speaking:

Bullish data -> strengthening economy -> greater demand for oil -> oil up

Bullish data -> strengthening economy -> decrease in risk aversion -> money flows out of 'safety' assets (like gold) and into risk-seeking assets, like oil/shares/high yielding currencies.
When you have to shoot, shoot. Dont talk.
  • #49,304
  • Dec 7, 2009 1:41am Dec 7, 2009 1:41am
Hi all regarding your thoughts about Payroll data and so on and after effects od news for various markets...

I d like to say that news may hype the markets for a little while but in the end market does what it suppose to do..

I feel it is the greatest mistake a trader can do is go and trade with the news!!! Please just watch the price action and follow that lead and dont even look at the news !!! That is my humble opinion ...

As far as gold and safe investments go ,

Starting with gold it has the similiar makings of oil story back in 2008 , reserves running out , ultra high coverage on news, expert opinion Gold will see the stars, even Georgie boy (Soros) coming out saying Forex no good it is comodity time and ultra high optimism for so many weeks leading me to think that markets is well over due for a crash just like the way oil did after all time high and 70 something percent drop next seven months...

The other thing is market possibly needed another mini boom and got that so probably due to correct itself in a major way ...

All in all we are still in a biggest bear market of all time so far and all this bear market rally may be showing some signs of exhaustion refering to stocks, dollars slide, commodities they are all leading me to think that the All markets the same theory i nearing by the minute..And when the next leg down starts my friends please do not let the inbuilt hope chip of yours stand in the way ....

Just follow the price action and you ll be right!!!

Good trading to all!!!

Regards V
  • #49,305
  • Edited 2:30am Dec 7, 2009 2:12am | Edited 2:30am
Quoting mbqb11
Haven't touched a weekly timeframe in a loooong time
Gold and silver showing almost the same thing (only difference is Gold looks better as silver looks close to a ppz)... 700 pips SL

Are you in this Gold trade Mike?
  • #49,306
  • Dec 7, 2009 2:52am Dec 7, 2009 2:52am
Added a bit more.
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  • #49,307
  • Dec 7, 2009 3:50am Dec 7, 2009 3:50am
TL Breakout + Retrace + PB.

I think it might test the pink line.

Lets see
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  • #49,308
  • Dec 7, 2009 4:11am Dec 7, 2009 4:11am
Quoting nasir.khan
TL Breakout + Retrace + PB.

I think it might test the pink line.

Lets see
I think nobody was looking at this TL except me.
  • #49,309
  • Dec 7, 2009 4:26am Dec 7, 2009 4:26am
Quoting nasir.khan
I think nobody was looking at this TL except me.
sorry for that

for the moment I'm busy with scalping on yen crosses, want to push it more higher, preparing for a more longer position

by the way hate doing scalp.

anyway the better I do the less desire I have for posting

wish you the best!!
  • #49,310
  • Dec 7, 2009 4:30am Dec 7, 2009 4:30am
Quoting triger88990
sorry for that

for the moment I'm busy with scalping on yen crosses, want to push it more higher, preparing for a more longer position

by the way hate doing scalp.

anyway the better I do the less desire I have for posting

wish you the best!!
So you mean

worst i do more desire i have for posting.
  • #49,311
  • Dec 7, 2009 4:40am Dec 7, 2009 4:40am
have a question for those who where implied in playing sunday gaps

I was in only the g/j and e/j and I didn't understand way they panicaed and exited before the gap was filled,anyway at the second sign of weakness I exited both treades.

on the cable didn't bother to place any trade due to only 30 pips which was the gap and with a high spread,and skipped it.

anyway this was easy money

wish you the best!
  • #49,312
  • Dec 7, 2009 4:54am Dec 7, 2009 4:54am
A daily chart for the eurgbp and thought, to just confirm why I still look to the daily and weekly charts for the PA, and not the 1 hour. Just check out the tremendous ppz on the daily charts and how many times price has reacted at these levels over the last two plus months, truly amazing ?
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Without women, money would have no meaning - Aristotle Onassis
  • #49,313
  • Dec 7, 2009 4:54am Dec 7, 2009 4:54am
Hi guys,
Lots of large Pinbars today but I liked the USD/CHF, seems to be on a very strong PPZ (daily,4h), any thoughts ?
  • #49,314
  • Dec 7, 2009 5:00am Dec 7, 2009 5:00am
Quoting djmanu
Hi guys,
Lots of large Pinbars today but I liked the USD/CHF, seems to be on a very strong PPZ (daily,4h), any thoughts ?
man are we looking at the same charts, I have done a quick look on all my charts and didn't see any PB,not even talking about large PB

wish you the best!!
  • #49,315
  • Dec 7, 2009 5:08am Dec 7, 2009 5:08am
Quoting triger88990
have a question for those who where implied in playing sunday gaps

I was in only the g/j and e/j and I didn't understand way they panicaed and exited before the gap was filled,anyway at the second sign of weakness I exited both treades.

on the cable didn't bother to place any trade due to only 30 pips which was the gap and with a high spread,and skipped it.

anyway this was easy money

wish you the best!

Not all gaps completely close, yet having said that, a high number of gaps will completely close, I think I saw around 80% of gaps close, so therefore it is a risk management thing, why do certain things happen 80% of the time yet one can make a loss? sounds strange yet is true, ...beyond the scope of my response for now
Matt
Without women, money would have no meaning - Aristotle Onassis
  • #49,316
  • Dec 7, 2009 5:22am Dec 7, 2009 5:22am
Quoting mattfx
Not all gaps completely close, yet having said that, a high number of gaps will completely close, I think I saw around 80% of gaps close, so therefore it is a risk management thing, why do certain things happen 80% of the time yet one can make a loss? sounds strange yet is true, ...beyond the scope of my response for now
Matt
I think I saw that percent of 80% somewhere else, I think mike say this in his post. What I saw when I was playing the gaps is that market is very sensitive at any order that enter on the market, and it reacts strongly because of lack of liquidity.

just my process thought!

wish you the best
  • #49,317
  • Edited 5:43am Dec 7, 2009 5:31am | Edited 5:43am
I have studied a web site devoted to trading gaps where the web master claims 90% I tend to think it is closer to 90% than 80% from what I see, yet he claims 89.1% yet without getting commercial crass, I won't post the link for the same reason, yet a google search will probably find it, if you need to research it like I did ? do some research.......... it may surprise you.....
Without women, money would have no meaning - Aristotle Onassis
  • #49,318
  • Dec 7, 2009 6:16am Dec 7, 2009 6:16am
Quoting Dan Gilbert
This may be a bad thread/forum to ask a question like this, but where is a good place to buy E-books from???
What are you looking for? I have about 15 on trading.
"Whether you think you can or can't, you're right." Henry Ford
  • #49,319
  • Dec 7, 2009 6:57am Dec 7, 2009 6:57am
A Christmas Poem for J16 Traders
As the year is drawing to a close, having started the year wishing to be freed from our bosses
It so happened that we needed a mentor to show us the way, to show us the profits and to respect the losses

Yet as surely as Christmas arrives, working hard to make dreams come true,
While the experienced traders look on and say, it is all up to you

So let’s celebrate J16’s thread
And wish him all the best
For as surely as this thread has survived, being something that could not be contrived

We have arrived at the J16 thread, something that has stood the test
Something that is better than the rest.....
Without women, money would have no meaning - Aristotle Onassis
  • #49,320
  • Dec 7, 2009 7:14am Dec 7, 2009 7:14am
Quoting mattfx
A Christmas Poem for J16 Traders
..
my tongue twister(?) reply:
wow, a talented trader with another talent.
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