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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

  • #52,181
  • Jan 20, 2010 1:57pm Jan 20, 2010 1:57pm
Apparently this pair is waiting for a move.......over the last five hourly bars (although the last one has not closed) price has either opened or closed at exactly 91.20. Looks like everyone agrees for now on the currency valuation betweend dollars and yen.
  • #52,182
  • Jan 20, 2010 2:04pm Jan 20, 2010 2:04pm
Quoting dobe_r_man
Apparently this pair is waiting for a move.......over the last five hourly bars (although the last one has not closed) price has either opened or closed at exactly 91.20. Looks like everyone agrees for now on the currency valuation betweend dollars and yen.
Hey Nathan...

Ghous had a good post on why this area is testy below... I think many of us are anxious to see what will happen.

Quoting ghous
... I would also have liked the buob further down near the 50 fib ppz for instance...

-- Danny
  • #52,183
  • Jan 20, 2010 2:13pm Jan 20, 2010 2:13pm
be careful with this pin here, its too small....not convincing enough to sshort and hold .....
a little patience is needed here , something better shld pop up....
1.7 big round no is one im sure Mike would be watching like a hawk but will mos likely turn this one down...way too small imo
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Simplicity is the key to success
  • #52,184
  • Jan 20, 2010 2:14pm Jan 20, 2010 2:14pm
4hr IB @ 1.7000 on GBPCHF on IBFX feed...

should be interesting....
Many choose unhappiness over uncertainty.
  • #52,185
  • Jan 20, 2010 2:33pm Jan 20, 2010 2:33pm
Quoting squeezy
be careful with this pin here, its too small....not convincing enough to sshort and hold .....
a little patience is needed here , something better shld pop up....
1.7 big round no is one im sure Mike would be watching like a hawk but will mos likely turn this one down...way too small imo
Yep you know me too well. Beauty of a location, but a small pin by itself is not enough to get me excited. Lets get a big huge BEOB! then we can party

Mike
  • #52,186
  • Jan 20, 2010 2:40pm Jan 20, 2010 2:40pm
Quoting mbqb11
Yep you know me too well. Beauty of a location, but a small pin by itself is not enough to get me excited. Lets get a big huge BEOB! then we can party

Mike
Talking of BEOB, there is one forming on the CAD/CHF on the daily (i know it closed yet but...). It's straddling the 10000 mark too. I'm not super familar with these but is anyone else watching this?
  • #52,187
  • Jan 20, 2010 2:45pm Jan 20, 2010 2:45pm
Quoting dobe_r_man
Actually almost identical to you - 1.6294, when it is that close to a round number I enter below as you did....
I was probably a bit naive with my entry at 16308 (just above round number). I have now moved stop to BE as price was struggling to break 16250.
  • #52,188
  • Jan 20, 2010 2:50pm Jan 20, 2010 2:50pm
As I newbie got a bit slapped down suggesting short on this pair a while back. Looked good to me at the time with weekly BEOB(?), break of trend line and confirming PA on Daily, continuation pin on 4 hour. Just dumb luck or on the right track?

Jez
  • #52,189
  • Jan 20, 2010 3:06pm Jan 20, 2010 3:06pm
Anybody watching the kiwi/usd, i knew a few got burnt on it recently.

Its made a nice drop recently & if it can fall another 40 pips or so to break the current ppz its a nice big drop south. I got in yesterday around 7240 & trailing by 30 pips

Appreciate the experts take on it?
Learning to be rigid in my rules & flexible in my expectations
  • #52,190
  • Jan 20, 2010 3:33pm Jan 20, 2010 3:33pm
Quoting mbqb11
Yep you know me too well. Beauty of a location, but a small pin by itself is not enough to get me excited. Lets get a big huge BEOB! then we can party

Mike
hey Mike,
tell me you got something from the 1hr yen breakout patterns i mentioned earlier ......
posted this cadjpy 1hr chart a while back and indicated in blue box 1st tp.....didnt take it as was already in ej & chfjpy breakouts .......
expecting some more drops on the yen pairs, (but what do i know)
also saw the ym daily chart nasir & rac were talking about earlier, i imagined 1 tl on that chart & if it breaks+pullbacks that tl tomrw/next tmrw...then further drops imo
ill post more patterns as i see
cheers
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  • #52,191
  • Jan 20, 2010 3:36pm Jan 20, 2010 3:36pm
what is this about reducing leverage to a maximum of 10:1???? I will move to Canada in a snap (serious).
Many choose unhappiness over uncertainty.
  • #52,192
  • Jan 20, 2010 3:48pm Jan 20, 2010 3:48pm
Quoting Glenborrell
Talking of BEOB, there is one forming on the CAD/CHF on the daily (i know it closed yet but...). It's straddling the 10000 mark too. I'm not super familar with these but is anyone else watching this?
Hey Glen

I wouldn't take that one but look back to the one on jan 8. That is as A++ as it gets

Mike
  • #52,193
  • Jan 20, 2010 3:53pm Jan 20, 2010 3:53pm
Quoting Glenborrell
Talking of BEOB, there is one forming on the CAD/CHF on the daily (i know it closed yet but...). It's straddling the 10000 mark too. I'm not super familar with these but is anyone else watching this?
I'd like to take this set up but broker (oanda) doesn't have it....so i have to look at the window.....but i really like the set up even because it shows us a bearish divergence on macd.
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Patience is essential
  • #52,194
  • Jan 20, 2010 3:57pm Jan 20, 2010 3:57pm
Quoting mbqb11
Hey Glen

I wouldn't take that one but look back to the one on jan 8. That is as A++ as it gets

Mike
Nice....a senior member(one of my favorite) just said the opposite of me......i go back to the kennel......to study.
Patience is essential
  • #52,195
  • Jan 20, 2010 4:06pm Jan 20, 2010 4:06pm
Quoting mbqb11
Hey Glen

I wouldn't take that one but look back to the one on jan 8. That is as A++ as it gets

Mike
Mike,

Thanks, In terms of A++ were you talking about the large amount of space prior to the Jan 8 bar?

Glen
  • #52,196
  • Jan 20, 2010 4:08pm Jan 20, 2010 4:08pm
Quoting benem
I'd like to take this set up but broker (oanda) doesn't have it....so i have to look at the window.....but i really like the set up even because it shows us a bearish divergence on macd.
Same here.

I would like to see this one close a bit higher.

Any thoughts on this one? Mike and others.
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  • #52,197
  • Jan 20, 2010 4:12pm Jan 20, 2010 4:12pm
Quoting benem
I'd like to take this set up but broker (oanda) doesn't have it....so i have to look at the window.....but i really like the set up even because it shows us a bearish divergence on macd.
Couldn't you just buy USD/CAD and sell USD/CHF? Doesn't that equate to Selling CAD/CHF? I use Oanda as well for placing demo trades and thats what I did last time I wanted to sell that pair.

Or maybe I'm wrong, but i don't think i am as the cross is just a mathematical representation of both pairs. The only thing is you have to pay two spreads.



--- Joe
  • #52,198
  • Jan 20, 2010 4:20pm Jan 20, 2010 4:20pm
Quoting NosferatuMan
Same here.

I would like to see this one close a bit higher.

Any thoughts on this one? Mike and others.

In my huble opinion it's a bit tricky....because

1) the buob looks like an indecision bar
2) Actually the close is below 1.55
3) you don't have much confluence except the support where is bouncing off......
Patience is essential
  • #52,199
  • Jan 20, 2010 4:22pm Jan 20, 2010 4:22pm
Quoting benem
Nice....a senior member(one of my favorite) just said the opposite of me......i go back to the kennel......to study.
Hey Benem

THat doesn't mean that one isn't tradeable. Far from it. Pretty decent looking setup, just doesn't quite meet my criteria.

Don't ever want to scare people off their own analysis!

Mike
  • #52,200
  • Jan 20, 2010 4:23pm Jan 20, 2010 4:23pm
Quoting Jiee
Couldn't you just buy USD/CAD and sell USD/CHF? Doesn't that equate to Selling CAD/CHF? I use Oanda as well for placing demo trades and thats what I did last time I wanted to sell that pair.

Or maybe I'm wrong, but i don't think i am as the cross is just a mathematical representation of both pairs. The only thing is you have to pay two spreads.



--- Joe

Yes you're right but it's too hard work to do according to my exit strategy.....i should make to much math.....here in Italy is quite late.....and Mike cuted my wings
Patience is essential
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