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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

  • #53,741
  • Feb 2, 2010 11:45pm Feb 2, 2010 11:45pm
Quoting nasir.khan
No Nathan he won't cause these TIPS traders simply can't.

Why would he believe a 22 year old freak watching weird lines all day, rather then listening to people who are in the industry and are well informed.
Exactly!! And I pity them...
I believe . . .
  • #53,742
  • Feb 2, 2010 11:49pm Feb 2, 2010 11:49pm
Quoting james16
thanks to sto i saw this.

welcome to our little world chris.

we are honoured to have you with us,

jim

omg Omg OMg OMG !!! He knows my name...umm, uh... THANK YOU... uh... OH GREAT ONE, I DO NOT BRING GIFTS, BUT I BRING PATRONAGE AND WATER... can you do the water beer thing now? heh.

On a serious note, It is an honour to be a part of this fine establishement, thank you sir.

-Chris-
  • #53,743
  • Feb 2, 2010 11:52pm Feb 2, 2010 11:52pm
Quoting ppfx
I have a question. Its just informative, cause i wont trade this, its a little too late (SL would be too big for my tiny account), but someone could take it

Could this bar on monthly gold chart be considered as a IPB ? If it is it has a great support at 1073.00 and the daily bar has closed as a BUOB (it has also closed above 1100.00) and i know that is a little early but the weekly bar is currently forming a pretty decent BUOB (for now will see how will it close at the end of the week).

What do you think??

Attachment Attachment ...
Cbh123 did a great job with explaining why that is not an IPB,

The bar you pointed out clearly is just a "thumbs up to the brave move of the bears last month"... see if you can manage some sense out of this.

g.
I believe . . .
  • #53,744
  • Feb 3, 2010 12:04am Feb 3, 2010 12:04am
Quoting squeezy
good eyes Dan
wish i cld throw a vouch ur way

edit: theres div(shows better with macd though), swing high .... the more the confluence the better
I actually demo traded that setup today (still in it).... no way i'm trading it live, it's running straight into the 1.0500 round number....
Many choose unhappiness over uncertainty.
  • #53,745
  • Feb 3, 2010 12:07am Feb 3, 2010 12:07am
Well, the GBPCHF short trade has hit my manual trailing stop.... Total gain to live account on that trade: 1.2%
Many choose unhappiness over uncertainty.
  • #53,746
  • Feb 3, 2010 12:30am Feb 3, 2010 12:30am
Quoting Dan Gilbert
I actually demo traded that setup today (still in it).... no way i'm trading it live, it's running straight into the 1.0500 round number....
we play inside bars differently Dan
i would be using the break of the 1st bar, not the best risk:reward but its safer than pulling the trigger on the actually inside bar
so if i were to play this now on demo ofcourse, my entry wld be 1.0471 & sl 1.0655 for 1% risk only
Simplicity is the key to success
  • #53,747
  • Feb 3, 2010 12:34am Feb 3, 2010 12:34am
this is my definition of a trade a week .... lol
why do we make things so complicated for ourselves...........why????
Attached Image (click to enlarge)
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Simplicity is the key to success
  • #53,748
  • Feb 3, 2010 1:07am Feb 3, 2010 1:07am
Quoting ertorque
Hi Lovejoy,

Thanks for sharing the trades you are taking.
To be sure I understand correctly, you are shorting both the UC and NU rite?
Could you please explain how do you see if a PPZ area is round number or not (like you mentioned in your NU trade)?
Sorry to have trouble you.

CY
I'm short UC, long NU based on the daily outside bars.

Ummm not sure I know exactly what you are trying to ask...I know it's a round number by looking at the price at where PPZ is as...I have round numbers marked on my chart using the 'grid' indicator (do a serach and you'll find it in this thread).

Incidentally you can now see that price has tested the PPZ area (round number) as support now...
Attached Image (click to enlarge)
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  • #53,749
  • Feb 3, 2010 1:13am Feb 3, 2010 1:13am
Quoting squeezy
this is my definition of a trade a week .... lol
why do we make things so complicated for ourselves...........why????
nice trade, I didnt keep my FxPro feed open this week so I totally missed that one. I usually have both open to look for those kind of opportunities.
  • #53,750
  • Feb 3, 2010 1:49am Feb 3, 2010 1:49am
Quoting lovejoy80
I'm short UC, long NU based on the daily outside bars.

Ummm not sure I know exactly what you are trying to ask...I know it's a round number by looking at the price at where PPZ is as...I have round numbers marked on my chart using the 'grid' indicator (do a serach and you'll find it in this thread).

Incidentally you can now see that price has tested the PPZ area (round number) as support now...
Thanks Lovejoy.
Actually, what I wanted to ask is what are round numbers in your case (NZD/USD) , I means since PPZ is an area and not a line. When a person says round number does it mean the last digit of the quote (assuming 4 decimals) has to be zero, for example 0.7110 or does it mean the 2nd last digit has to be zero for example 0.7100. Sorry if this seems to silly a question but I am on still very new here..............
  • #53,751
  • Feb 3, 2010 1:53am Feb 3, 2010 1:53am
Could anyone tell me, please, what time does fxpro change to a new day. e.g. GMT +2, also IBFX.
My understanding is that FXPro = GMT+2, and IBFX = GMT+4
Clarification would be greatly appreciated.
  • #53,752
  • Feb 3, 2010 1:58am Feb 3, 2010 1:58am
Quoting ertorque
Thanks Lovejoy.
Actually, what I wanted to ask is what are round numbers in your case (NZD/USD) , I means since PPZ is an area and not a line. When a person says round number does it mean the last digit of the quote (assuming 4 decimals) has to be zero, for example 0.7110 or does it mean the 2nd last digit has to be zero for example 0.7100. Sorry if this seems to silly a question but I am on still very new here..............
Hey E

The round numbers are , 7100, 7150, ...those are the more common ones the xx00 and xx50

Best
Mike
  • #53,753
  • Feb 3, 2010 2:17am Feb 3, 2010 2:17am
Hi guys, just want to share something with you all this morning.... Enjoy watching.

http://www.youtube.com/watch?v=x-jej6XorF0
  • #53,754
  • Feb 3, 2010 2:25am Feb 3, 2010 2:25am
Quoting wh1zz0
Hi guys, just want to share something with you all this morning.... Enjoy watching.

http://www.youtube.com/watch?v=x-jej6XorF0
I already knew that Wh1zzo.. but I didn't know that I knew it.

Cory
  • #53,755
  • Feb 3, 2010 2:36am Feb 3, 2010 2:36am
NZD/USD hit my BE S/L that night but UCAD looks better actually
  • #53,756
  • Feb 3, 2010 2:43am Feb 3, 2010 2:43am
Quoting Cbh123
I already knew that Wh1zzo.. but I didn't know that I knew it.

Cory
  • #53,757
  • Feb 3, 2010 3:13am Feb 3, 2010 3:13am
Moved my stop on N/U to 7080 (just below the PPZ area) and moved stop on U/C to 1.0630 - as indicated by the arrows.

I am also long EU from 1.3922 so watching these closely with 3 x USD correlated positions.

Also have long position on AUD / JPY @ 80.05 (daily PPZ and trendline bounce)
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: uc.gif Size: 17 KB
  • #53,758
  • Feb 3, 2010 3:15am Feb 3, 2010 3:15am
Hi Guys

Has anyone here used/using FXtester to backtest? Just want to know if it lets you back teat any TF like the dailies, 4hr etc?

regards,

berti
PA is where its at!!
  • #53,759
  • Feb 3, 2010 3:18am Feb 3, 2010 3:18am
round number and PPz on USD CHF...could be good for a 'touch trade'
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  • #53,760
  • Feb 3, 2010 3:34am Feb 3, 2010 3:34am
Quoting bertie123
Hi Guys

Has anyone here used/using FXtester to backtest? Just want to know if it lets you back teat any TF like the dailies, 4hr etc?

regards,

berti
You can test M1, M5, M15, H1, H4, D1, W1.

It's a great tool, but if you're used to MT4 it can give you some headaches...
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