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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

  • #59,461
  • Mar 29, 2010 6:15am Mar 29, 2010 6:15am
Quoting bertie123
spot on.. but its frustrating sometimes when you are learning to see others taking good trades which you have not spotted.....
Hello berti..
i think most/all of us go thru that phase wherein we get frustrated over one thing or another.

Let's not forget why we join FF & read this thread (IMHO):
we are here to learn, discuss, share, mingle...
we are not here to look for trades/setups we haven't seen or taken..
we are not here to look for posts for us to get frustrated...
we are not here to compete with others.. we are here to learn & compete only with ourselves
  • #59,462
  • Mar 29, 2010 7:18am Mar 29, 2010 7:18am
Quoting mattfx
Setup for the ej a couple of days ago with a daily PB that found support at 120 which also coincided to the mark with the 78.6 fib retracement, a 10 pip break at 121.70 above the high kept us out of trouble, it was worth the wait and now approaching a double high at within a few pips of 125.20 a break above this level would take us to 127 a very strong PPZ lets see what comes of it ? Stay focused......and good luck all
Good sensible trading.
I believe . . .
  • #59,463
  • Mar 29, 2010 7:21am Mar 29, 2010 7:21am
I paid some attention to eur/aus for a long because of the monthly support zone (1,45-475).I didn't take any after gap openning. But 1,35 at eur/cad is quite strong. Watching it.

Quoting mattfx
I have short on the EURCAD which I sold at 3807 (Gap Trade) SL nearly hit by a few pips directly after moving to BE lol

How is your trade fairing my friend ?
  • #59,464
  • Mar 29, 2010 7:40am Mar 29, 2010 7:40am
Quoting mattfx
Setup for the ej a couple of days ago with a daily PB that found support at 120 which also coincided to the mark with the 78.6 fib retracement, a 10 pip break at 121.70..
ok, i got confused.. a little bit.
it should be 'support at 121' (as mentioned in your chart), then '10pip break (of the PB) at 122.70'.
just clarifying for the others
  • #59,465
  • Mar 29, 2010 7:41am Mar 29, 2010 7:41am
Quoting nasir.khan
A location.....
.
10 more pips and we will have a decent PB.....
.
Would anyone take it.
.
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  • #59,466
  • Mar 29, 2010 8:12am Mar 29, 2010 8:12am
The EURJPY H&S sure doesn't look good for now.. That H8 PB off major PPZ, BRN, 365 EMA (that's heavy stuff) might cause some damage.. Took partial profit @ 125, but I was hoping for a breakout, pullback and shot for the stars kind of action.

I think I'll reverse my trade (from below PB to 124, from there we'll see), but I wasn't looking for that.
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  • #59,467
  • Mar 29, 2010 8:28am Mar 29, 2010 8:28am
Hi Neutro,wouldnt selling be a counter trend?It looks to be in an uptrend..
  • #59,468
  • Mar 29, 2010 8:51am Mar 29, 2010 8:51am
Quoting khairul81
Hi Neutro,wouldnt selling be a counter trend?It looks to be in an uptrend..
I believe it's at a turning point. On the daily, the H&S signals the turn of the trend, from down to up. If 125 doesn't get broken then there are more chances of going down then up.

On the H4 perspective we have a clear higher low, but no higher high, all we have is a quadruple top at 125. Maybe price will touch the yellow trendline, make some sort of PA to go long again (hoping that the 5th time will be a charm, but I will be prepared for another fail attempt on 125). I won't be going short, but I will set my SL for the long position just under the PB (buffer included).
  • #59,469
  • Mar 29, 2010 10:11am Mar 29, 2010 10:11am
Quoting PrincoPrinco
Is anyone on Eur/Cad or Eur/Aus weekly?
My EUR/AUD weekly long never triggered, but my GOLD weekly pin did.

FTA highlighted.

-- Danny
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  • #59,470
  • Mar 29, 2010 10:53am Mar 29, 2010 10:53am
Quoting nasir.khan
.....
.
Would anyone take it.
.
if you meant short, then the answer is yes...
  • #59,471
  • Mar 29, 2010 11:34am Mar 29, 2010 11:34am
Quoting raczekfx
if you meant short, then the answer is yes...
You're short from 1.0300. ain't you.
I am long from 1.0185.
  • #59,472
  • Mar 29, 2010 1:23pm Mar 29, 2010 1:23pm
Another valuable lesson for me.. It's almost tenth time i cancel order that worked out ONLY because of opinion of other members. Absolutely i'm not complaining that others told me: be careful, and they were wrong, no, they weren't, i'm grateful for that and looking forward for more advices but i need to remember that it is up to me if i decide to take the trade, no one here will decide or do it for me. This is a little frustrating, but do you know what would be more frustrating? if someone here told me to take the trade and it failed. But then it would be easier to be angry on someone than on myself I really like the way thread is, it suites me, i think i can say that the Seniors here are raising us as traders You can't overestimate it..
http://www.forexfactory.com/showpost...ostcount=59024
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  • #59,473
  • Mar 29, 2010 2:30pm Mar 29, 2010 2:30pm
Quoting Nawry
Another valuable lesson for me.. It's almost tenth time i cancel order that worked out ONLY because of opinion of other members. Absolutely i'm not complaining that others told me: be careful, and they were wrong, no, they weren't, i'm grateful for that and looking forward for more advices but i need to remember that it is up to me if i decide to take the trade, no one here will decide or do it for me. This is a little frustrating, but do you know what would be more frustrating? if someone here told me to take the trade and it failed. But then it...

It's a good lesson! I learned this lesson too a while ago. Now I just post my charts and leave the orders open regardless of what the people here say. You need to find YOUR niche. Remember this thread is just for receiving other peoples input, but ultimatly you need to make your own decisions.
Many choose unhappiness over uncertainty.
  • #59,474
  • Mar 29, 2010 2:31pm Mar 29, 2010 2:31pm
Quoting Nawry
Another valuable lesson for me.. It's almost tenth time i cancel order that worked out ONLY because of opinion of other members. Absolutely i'm not complaining that others told me: be careful, and they were wrong, no, they weren't, i'm grateful for that and looking forward for more advices but i need to remember that it is up to me if i decide to take the trade, no one here will decide or do it for me. This is a little frustrating, but do you know what would be more frustrating? if someone here told me to take the trade and it failed. But then it...
nice clock. it looks like my clock. i use "DS Clock" it's free and customizable. I get a chime on the hour and can see seconds in the minute 6:44:58 for example
  • #59,475
  • Mar 29, 2010 2:35pm Mar 29, 2010 2:35pm
Quoting Nawry
Another valuable lesson for me.. It's almost tenth time i cancel order that worked out ONLY because of opinion of other members. Absolutely i'm not complaining that others told me: be careful, and they were wrong, no, they weren't, i'm grateful for that a..
Did you see this article last Friday? "Is EURUSD Headed for a Plunge on Monday?" by Zerohedge.com It was on the front page of FF. I can't tell you how many times as a new trader that I would allow someone elses opinion to influence my own. The market actualy gapped up and took me to my TP at 3450. Trade what YOU know and see. It's your coin.

K.I.S.S.
  • #59,476
  • Mar 29, 2010 2:57pm Mar 29, 2010 2:57pm
USDJPY is 'coiling' up for a new run up. Or is it down? These I4B are tricky.

Amen from the back row.
  • #59,477
  • Mar 29, 2010 3:03pm Mar 29, 2010 3:03pm
Quoting neutro
USDJPY is 'coiling' up for a new run up. Or is it down? These I4B are tricky.

Amen from the back row.
  • #59,478
  • Mar 29, 2010 3:14pm Mar 29, 2010 3:14pm
Thanks guys for replies, really appreciate your advices and good words
  • #59,479
  • Mar 29, 2010 3:32pm Mar 29, 2010 3:32pm
This BUOB is looking good off a PPZ and nice size.

If it can stay above 1.2900, it looks good to me.

Anyone seeing this? Comments?

-- Danny
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  • #59,480
  • Mar 29, 2010 3:43pm Mar 29, 2010 3:43pm
Quoting bluetrader
This BUOB is looking good off a PPZ and nice size.

If it can stay above 1.2900, it looks good to me.

Anyone seeing this? Comments?

-- Danny
Just thought I would throw up a chart with the first trouble area to add to your analysis. I would have liked to see a lower low on the BUOB itself personally. But some tight mgmt on these and they can be great still

Best
Mike
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