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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

  • #62,941
  • May 6, 2010 9:37am May 6, 2010 9:37am
I got like 30 emails about the usd/jpy of people just killing it on it. Talk about a runner . Good job to those that followed their plans
  • #62,942
  • May 6, 2010 9:40am May 6, 2010 9:40am
Quoting benem
Hi guys i just spotted this possible Pin on Eur/Gbp

Reason that i like this set up:

1) Pin (not the best one)
2) BRN 85.00
3) Double bottom
4) Divergence on Macd
5) 61% Fibonacci ( a friend of mine )

Of course we have to wait the Daily close time.

What you think??

Compliments or bad words are welcome.....
I am wary of CT trades. Also, why should the euro rise against any currency at the moment?
"Fail to prepare, prepare to fail."
  • #62,943
  • Edited 10:06am May 6, 2010 9:42am | Edited 10:06am
Quoting NosferatuMan
Great trade, Dan
Good for about 3R.


I was stopped out at BE on NZDJPY and now I'm on the USDJPY.
Due to its location, I might give a bit more room to this one before adjusting my stop.

that wheat trade was perfect. Thanks to ghous for showing how the IPB's do work in the right location. 500 VBRN was a perfect location.

Right after I took full profit, price reversed, further proving the management technique there is spot on

I too was stopped out at B/E on the NZDJPY trade. winner column.

USDJPY missed my T/P by about 5-6 pips or so, my stop is at B/E now and will continue to hold it until the NY market close time when I will close all positions due to tommorow being NFP.

gold i'm holding half position right now. stop at b/e.
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Many choose unhappiness over uncertainty.
  • #62,944
  • May 6, 2010 9:49am May 6, 2010 9:49am
Quoting Dan Gilbert
that wheat trade was perfect....

You're on a roll

Nos
  • #62,945
  • May 6, 2010 9:51am May 6, 2010 9:51am
Quoting mbqb11
26h pin! why not the 4hr buob as above

Just messing with you yaniv my man

Mike
I don't have the power to look at all feeds out there .

I just try to aggregate bars so it will appear as a PB/BEOB/BUOB on higher TF, i know it sounds silly but i'm more relaxed when i see 26H TF and not 4H.

I find it that if you know how to aggregate those bars it can help you to spot the "eye" and things like that.

Any way, it's on demo

you are the best Mike buddy !
  • #62,946
  • May 6, 2010 10:50am May 6, 2010 10:50am
Quoting Dan Gilbert
USDJPY missed my T/P by about 5-6 pips or so, my stop is at B/E now and will continue to hold it until the NY market close time when I will close all positions due to tommorow being NFP.
came back. done. good for +1.8%
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Many choose unhappiness over uncertainty.
  • #62,947
  • May 6, 2010 11:07am May 6, 2010 11:07am
Quoting Dan Gilbert
came back. done. good for +1.8%
Just wondering - was the USD/JPY a good example of a double top off the 95.000 resistance/round number?

thanks
  • #62,948
  • May 6, 2010 11:09am May 6, 2010 11:09am
Quoting bluemosaic
Just wondering - was the USD/JPY a good example of a double top off the 95.000 resistance/round number?

thanks
yes, and a 61.8% retracement on the weekly chart, and divergence on that double top in MACD.

I actually had a sell limit placed at 95.00 but that order got missed by 3 pips...

There's some areas on a chart that are just screaming at you sometimes.
Many choose unhappiness over uncertainty.
  • #62,949
  • May 6, 2010 11:09am May 6, 2010 11:09am
Quoting bluemosaic
Just wondering - was the USD/JPY a good example of a double top off the 95.000 resistance/round number?

thanks
Hey Blue

Yes that is what people were doing. DBHLC with divg off the 95 arae. Boy did that thing drop like a rock wish I took it

Mike
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  • #62,950
  • May 6, 2010 11:12am May 6, 2010 11:12am
Quoting mbqb11
Hey Blue

Yes that is what people were doing. DBHLC with divg off the 95 arae. Boy did that thing drop like a rock wish I took it

Mike
Me too! I spotted it yesterday evening and did not have enough faith in my analysis to enter! oh well! there will be others!

cheers
  • #62,951
  • May 6, 2010 11:13am May 6, 2010 11:13am
Quoting mbqb11
Hey Blue

Yes that is what people were doing. DBHLC with divg off the 95 arae. Boy did that thing drop like a rock wish I took it

Mike
dang mike.... I think you caught a piece of this volatility in some way? I hope!
Many choose unhappiness over uncertainty.
  • #62,952
  • May 6, 2010 11:15am May 6, 2010 11:15am
Quoting Dan Gilbert
dang mike.... I think you caught a piece of this volatility in some way? I hope!
nope not on the way down at least LOL my methods flourish best when we swing, unless I catch a breakout play. Just nothing quite lining up for me these last few weeks
  • #62,953
  • May 6, 2010 11:23am May 6, 2010 11:23am
Quoting mbqb11
nope not on the way down at least LOL my methods flourish best when we swing, unless I catch a breakout play. Just nothing quite lining up for me these last few weeks
Your psychology must be on point if this doesn't bother you in the least lol.

I'm upset that I only caught the trades that I did, and this has been one of my best weeks on record as far as demo+real trading combination goes.
Many choose unhappiness over uncertainty.
  • #62,954
  • May 6, 2010 11:28am May 6, 2010 11:28am
Quoting Dan Gilbert
Your psychology must be on point if this doesn't bother you in the least lol.

I'm upset that I only caught the trades that I did, and this has been one of my best weeks on record as far as demo+real trading combination goes.
It can be tough watching all the action. I had a real slow last month after a flying start the first 3 months. But that's just how it goes. Your method does what it does. I forgot who said it , but it was something when I am out of the market it's other peoples turn to get theirs

I finally had an order pick up with some slippage though, but maybe its my turn maybe not

Keep at it Dan you are doing great
Mike
  • #62,955
  • May 6, 2010 11:34am May 6, 2010 11:34am
Quoting NosferatuMan
Great trade, Dan
Good for about 3R.


I was stopped out at BE on NZDJPY and now I'm on the USDJPY.
Due to its location, I might give a bit more room to this one before adjusting my stop.

Nos

PS: Again, entry on the break and SL above the bar. I place my trades (still demo) in Oanda.

What a drop

Closed 1/3 ad SL above 92.00 for now.
Honestly, this turned out very different from what I expected and I have to set a new plan for the remaining position.

Nos
  • #62,956
  • May 6, 2010 11:45am May 6, 2010 11:45am
Quoting NosferatuMan
What a drop

Closed 1/3 ad SL above 92.00 for now.
Honestly, this turned out very different from what I expected and I have to set a new plan for the remaining position.

Nos
Yeah I don't think anyone could have expected it to drop that hard.... that is madness. huge bearish bars all over the yen crosses.
Many choose unhappiness over uncertainty.
  • #62,957
  • May 6, 2010 11:46am May 6, 2010 11:46am
What the hell are you guys doing in here. lol
Indicators show the past. Price Action "Indicates" the future.
  • #62,958
  • May 6, 2010 11:49am May 6, 2010 11:49am
Holy Sh*T
Indicators show the past. Price Action "Indicates" the future.
  • #62,959
  • May 6, 2010 11:50am May 6, 2010 11:50am


Is the earth still rolling?
  • #62,960
  • May 6, 2010 11:50am May 6, 2010 11:50am
Quoting mbqb11
nope not on the way down at least LOL my methods flourish best when we swing, unless I catch a breakout play. Just nothing quite lining up for me these last few weeks
Mike and Jaroo.

Do you get the feeling this is one of those Peter Crowns moments beginning here?
Bundy's status today: "Waiting..."
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