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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

  • #57,461
  • Mar 7, 2010 6:32pm Mar 7, 2010 6:32pm
Everyone needs to watch this...


http://www.4shared.com/file/96740657...er_Market.html
Keep taking CT trades, I need more money
  • #57,462
  • Mar 7, 2010 6:45pm Mar 7, 2010 6:45pm
Quoting jarroo
I do like this one but I don't love it. As ben has said, the BRN of 0.7000 would be a better location for this type of PB. It would add more supportive strength.

Price is in a down trend with its eye on that .7000. Price sure likes run to and hanging around with . . these BRNs.
i like this one but as you said that .7000 is my major worry??that and the fact that it was a pretty strong fall ! but... it is the 50% fib retrace from the last up trend, a PPZ and could be the second touch of the bottom border line of a decending channel if it forms?? i have my order above .7200 though as i want that broken before i get in. jus wish this had all happened.7000!! lol

lets see what happens ?

jon
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PATIENCE... DISCIPLINE
  • #57,463
  • Mar 7, 2010 6:47pm Mar 7, 2010 6:47pm
another for the notebook am only doing this so i can find it easy

thanks

Quoting Ryanmcd
Everyone needs to watch this...


http://www.4shared.com/file/96740657...er_Market.html
"The person who knows that enough is enough, will always have enough". .
  • #57,464
  • Mar 7, 2010 6:52pm Mar 7, 2010 6:52pm
Also after reading the past few pages now I see why I make money every week. Just remember when you take a CT trade I am going to be on the other side 80% of the time, as well as the banks, hedge funds, and other big players.....
Keep taking CT trades, I need more money
  • #57,465
  • Mar 7, 2010 6:52pm Mar 7, 2010 6:52pm
Quoting jarroo
I do like this one but I don't love it. As ben has said, the BRN of 0.7000 would be a better location for this type of PB. It would add more supportive strength.

Price is in a down trend with its eye on that .7000. Price sure likes run to and hanging around with . . these BRNs.
cant agree more
check ur 4hr charts....now why not look for pa to short at .7240 area back to .7060 area, downtrend + 50/62 fib confluence, i know thats what ill be looking forward to

Quoting supremeChaos
these are of paramount importance in trading
yup, shish! dnt tell but ive also resumed workout, not sure how long thatll last but hey u gotta try
really need to sleep, 2am here but then ryan puts up a 53 mins video to watch lol
ill just get a copy then hit the sack, anyways mondays are usually slow so ill probably still be in bed london session
Simplicity is the key to success
  • #57,466
  • Mar 7, 2010 6:56pm Mar 7, 2010 6:56pm
Quoting g_j_hook@yah
i like this one but as you said that .7000 is my major worry??that and the fact that it was a pretty strong fall ! but... it is the 50% fib retrace from the last up trend, a PPZ and could be the second touch of the bottom border line of a decending channel if it forms?? i have my order above .7200 though as i want that broken before i get in. jus wish this had all happened.7000!! lol

lets see what happens ?

jon
Should be fun to watch brother.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,467
  • Mar 7, 2010 7:01pm Mar 7, 2010 7:01pm
Quoting jarroo
Should be fun to watch brother.

upto 1st blue line then down...
Keep taking CT trades, I need more money
  • #57,468
  • Mar 7, 2010 7:03pm Mar 7, 2010 7:03pm
Quoting Ryanmcd
upto 1st blue line then down...

I was thinking more like straight down from where we are at now. lol
Indicators show the past. Price Action "Indicates" the future.
  • #57,469
  • Mar 7, 2010 7:10pm Mar 7, 2010 7:10pm
Quoting Ryanmcd
upto 1st blue line then down...
is it simply the strenth of the trend that makes you say that??

cheers

jon
PATIENCE... DISCIPLINE
  • #57,470
  • Mar 7, 2010 7:14pm Mar 7, 2010 7:14pm
Quoting g_j_hook@yah
is it simply the strenth of the trend that makes you say that??

cheers

jon

It's due for a pullback, or at least that is what the market does most of the time. And a good spot to pullback into is resistance. Basic EW stuff here.
Keep taking CT trades, I need more money
  • #57,471
  • Mar 7, 2010 7:26pm Mar 7, 2010 7:26pm
Quoting Ryanmcd
It's due for a pullback, or at least that is what the market does most of the time. And a good spot to pullback into is resistance. Basic EW stuff here.
price doesnt always bounce of the nearest R/S..??

time will tell, anyway i will be tight on this one thats for sure but i think it has a good chance of making .7350-.7400, and i would rather see bearish PA there than at them bar lows??
cheers

jon
PATIENCE... DISCIPLINE
  • #57,472
  • Mar 7, 2010 7:39pm Mar 7, 2010 7:39pm
Quoting g_j_hook@yah
price doesnt always bounce of the nearest R/S..??

time will tell, anyway i will be tight on this one thats for sure but i think it has a good chance of making .7350-.7400, and i would rather see bearish PA there than at them bar lows??
cheers

jon

Why not just short it? Look at the past 6 months why would it change? Oh ya it's a "Good Deal" enjoy that for me I would of had about 7-8 wins on that move down and lose 1 time when it changes trend, you CT folks will lose or miss 70% of that move looking for good deals...
Keep taking CT trades, I need more money
  • #57,473
  • Mar 7, 2010 7:43pm Mar 7, 2010 7:43pm
Quoting Ryanmcd
Why not just short it? Look at the past 6 months why would it change? Oh ya it's a "Good Deal" enjoy that for me I would of had about 7-8 wins on that move down and lose 1 time when it changes trend, you CT folks will lose or miss 70% of that move looking for good deals...
fair point, but i do trade with the trend much more often than not.

p.s. "Keep taking CT trades, I need more money" lol
PATIENCE... DISCIPLINE
  • #57,474
  • Mar 7, 2010 7:48pm Mar 7, 2010 7:48pm
Anyone long GBPUSD? Pin on weekly. BUOB on daily.
  • #57,475
  • Mar 7, 2010 7:53pm Mar 7, 2010 7:53pm
Quoting lawgirl21
Anyone long GBPUSD? Pin on weekly. BUOB on daily.
Looking for the break on that.

What else do you got to support that setup?
Indicators show the past. Price Action "Indicates" the future.
  • #57,476
  • Mar 7, 2010 8:01pm Mar 7, 2010 8:01pm
Quoting jarroo
Looking for the break on that.

What else do you got to support that setup?
Divergence on RSI(3) and MACD. BUOB low around big number1.5000.
  • #57,477
  • Mar 7, 2010 8:06pm Mar 7, 2010 8:06pm
Quoting lawgirl21
Divergence on RSI(3) and MACD. BUOB low around big number1.5000.
Good, just checking.

Weekly PB is also at fib retracement level. The size could be bigger. . .let's see how she breaks, (if she breaks).
Indicators show the past. Price Action "Indicates" the future.
  • #57,478
  • Mar 7, 2010 8:09pm Mar 7, 2010 8:09pm
Quoting jarroo
Good, just checking.

Weekly PB is also at fib retracement level. The size could be bigger. . .let's see how she breaks, (if she breaks).

Thanks for checking. I really appreciate it. Up 15 pips now.
  • #57,479
  • Mar 7, 2010 8:14pm Mar 7, 2010 8:14pm
Quoting lawgirl21
Thanks for checking. I really appreciate it. Up 15 pips now.
Entered before the break . . gutsy. or did you enter on a lower time frame setup?
Indicators show the past. Price Action "Indicates" the future.
  • #57,480
  • Mar 7, 2010 8:16pm Mar 7, 2010 8:16pm
Quoting jarroo
Entered before the break . . gutsy. or did you enter on a lower time frame setup?
Hey jarroo, thanks for your charts man... I have become freakishly like you with my trade management
Many choose unhappiness over uncertainty.
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