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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

  • #61,361
  • Apr 20, 2010 10:36am Apr 20, 2010 10:36am
Quoting tyler812
I moved sl to the current bar's high when it broke the pb, took full profit at 61.8 fib ret.

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Hi Guys,

Just got back from work in the UK. The PB short trade on the USD/CAD worked great for me. Set a TP this morning at 100 pips. Has hit my limit order and out with a tidy profit. My long trade on the CHF/JPY PB also making good progress.

Cheers

Glynn
"Fail to prepare, prepare to fail."
  • #61,362
  • Apr 20, 2010 10:39am Apr 20, 2010 10:39am
Hey I just want to say something to everyone who successfully traded the USDCAD pin. You guys do realize we have essentially 'traded the news' using PA from the day before....
Many choose unhappiness over uncertainty.
  • #61,363
  • Apr 20, 2010 10:41am Apr 20, 2010 10:41am
Quoting Dan Gilbert
Hey I just want to say something to everyone who successfully traded the USDCAD pin. You guys do realize we have essentially 'traded the news' using PA from the day before....
I was waiting for a voice of reason to speak there. Fundamental analysis always plays out in technical analysis.
I dream, therefore I become.
  • #61,364
  • Apr 20, 2010 10:51am Apr 20, 2010 10:51am
Quoting mike w
I was waiting for a voice of reason to speak there. Fundamental analysis always plays out in technical analysis.
I don't even think of PA as tech analysis anymore lol
Many choose unhappiness over uncertainty.
  • #61,365
  • Apr 20, 2010 10:55am Apr 20, 2010 10:55am
If you're waiting for the next quality setup on usd/cad you shouldn't have to wait long. Discounting the extreme lows of 2007, we're about 240 pips away from the tested lows of Nov-2007 to May-2008. And the monthly trend is down. There is still plenty of time and space for Chris to pick up +20ps here and there.

Regards,
Eric.
" Be always employed in something useful." - Benjamin Franklin
  • #61,366
  • Apr 20, 2010 11:03am Apr 20, 2010 11:03am
g/u on H1
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meine augen sind die sterne
  • #61,367
  • Apr 20, 2010 11:19am Apr 20, 2010 11:19am
Hi aserbx, was that a touch trade you took there? if not can i ask what trigger you used for entry.
  • #61,368
  • Apr 20, 2010 11:42am Apr 20, 2010 11:42am
Quoting Majestic12
Hi aserbx, was that a touch trade you took there?
yes
meine augen sind die sterne
  • #61,369
  • Apr 20, 2010 11:56am Apr 20, 2010 11:56am
Before I started college, I used to trade the 5m chart. Look at this BUOB less than 30 minutes before the NFP release. You could even have brought the SL to BE and still be in for the big post-NFP ride.

Did I take it? No, I was scared for the NFP. But after that I decided I'm never going to ignore good PA before a major newsrelease. That's why I took this USD/CAD

Quoting Dan Gilbert
Hey I just want to say something to everyone who successfully traded the USDCAD pin. You guys do realize we have essentially 'traded the news' using PA from the day before....
Attached Image (click to enlarge)
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  • #61,370
  • Apr 20, 2010 11:59am Apr 20, 2010 11:59am
Guys

well done to all who took daily UC pin and made profits. I was one of the losers having taken the BUOB on the weekly!! Saw the daily pin but as it was against my position I did not have the confidence to stop and reverse. As a result have been stopped out for -1.5%(demo). Another learning experience!! Should have listened to Jarroo, who advised to wait and see!LOL Maybe I was too eager to put on a trade. Still I suppose its mistakes that make the learning. Still 3%+ on the month though so not a disaster. Awaiting the next A+ setup.

berti
PA is where its at!!
  • #61,371
  • Edited 12:13pm Apr 20, 2010 11:59am | Edited 12:13pm
Quoting Majestic12
Hi aserbx, was that a touch trade you took there? if not can i ask what trigger you used for entry.
Same same.

Few good reasons to take a touch if you played it right. (Very short term for me. I'm out at 38.2 line). I wouldn't even take the BUOB that printed afterwards. Fluffed the second of the two part order I planned, so very average gain this particular time.

(Jaroo will understand the double ppz lines. )

(Edit: Ok, sorry Majestic. You can ignore this. Just realised I had read your post wrong. LOL)
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Bundy's status today: "Waiting..."
  • #61,372
  • Apr 20, 2010 12:03pm Apr 20, 2010 12:03pm
Quoting jarroo
Bundy will like this PPZ level on the line chart at the Close, as I did.
See. Bloody good tool, eh?
Bundy's status today: "Waiting..."
  • #61,373
  • Apr 20, 2010 12:08pm Apr 20, 2010 12:08pm
Quoting bertie123
Guys

well done to all who took daily UC pin and made profits....
Hi Bertie...if I can be of any help...
Watch my chart...your weekly BUOB has hit the first trouble area almost perfectly...and then retraced...
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Market is like a puzzle, YOU have to fit the pieces!!
  • #61,374
  • Apr 20, 2010 12:18pm Apr 20, 2010 12:18pm
Quoting Chris_B
Hi Bertie...if I can be of any help...
Watch my chart...your weekly BUOB has hit the first trouble area almost perfectly...and then retraced...
Also, trend is your friend.
Many choose unhappiness over uncertainty.
  • #61,375
  • Apr 20, 2010 12:25pm Apr 20, 2010 12:25pm
Quoting Dan Gilbert
Also, trend is your friend.
..... Today
  • #61,376
  • Apr 20, 2010 12:35pm Apr 20, 2010 12:35pm
Quoting wh1zz0
..... Today
always... The only pin I took yesterday was UCAD because it was going with the trend.

Anyone who took EU probably got pwnd...

Just a good additional rule to prevent loss
Many choose unhappiness over uncertainty.
  • #61,377
  • Apr 20, 2010 12:38pm Apr 20, 2010 12:38pm
Quoting Dan Gilbert
always... The only pin I took yesterday was UCAD because it was going with the trend.

Anyone who took EU probably got pwnd...

Just a good additional rule to prevent loss
Yes...EU was tradable too (for my style)...but not worth, the FTA was only 25 pips away and if you count the buffer and the spread...it was too little space...
Market is like a puzzle, YOU have to fit the pieces!!
  • #61,378
  • Apr 20, 2010 12:41pm Apr 20, 2010 12:41pm
Hello guys, i have a question regarding the 365 ema.. when i set the parameter for the line to be 365 it doesn't even appear in the chart, am i doing someting wrong?
thanks
  • #61,379
  • Apr 20, 2010 12:47pm Apr 20, 2010 12:47pm
Quoting Chris_B
Yes...EU was tradable too (for my style)...but not worth, the FTA was only 25 pips away and if you count the buffer and the spread...it was too little space...
And this..... lower highs and lower lows.

Do you want to easily kayak down the river, or do you want to fight and kayak up the river?
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Many choose unhappiness over uncertainty.
  • #61,380
  • Apr 20, 2010 12:50pm Apr 20, 2010 12:50pm
Quoting Chris_B
Hi Mauzz, when I say "a good R:R" i talk about moving your stop once the price has done his breakout and is pointing to the first trouble area....

Hope this helps!
I see what you mean. Thanks for the reply, Chris.

Quoting bundyraider

(Jaroo will understand the double ppz lines. )
Bundy,
Can either you or Jarroo elaborate a little bit on this (how and when you use that tool?) or point me to some part of the thread where the concept is explained, please? Thanks.
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