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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

  • #64,081
  • May 18, 2010 8:50am May 18, 2010 8:50am
IB4 forming on the 4Hrs. Hope a break up will provide it with momentum to hit 1.35

CY
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  • #64,082
  • May 18, 2010 9:16am May 18, 2010 9:16am
Quoting ertorque
IB4 forming on the 4Hrs. Hope a break up will provide it with momentum to hit 1.35

CY
Should wait until the bar closes. PA is not PA until they close.

That Daily PB has already hit its target in my book. Could it still hit the 135.00 and 136.00? Sure, but not with my skin in the game.
Indicators show the past. Price Action "Indicates" the future.
  • #64,083
  • May 18, 2010 9:21am May 18, 2010 9:21am
could be considered a break in the downward...
  • #64,084
  • May 18, 2010 9:25am May 18, 2010 9:25am
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Floored, the movie


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  • #64,085
  • May 18, 2010 9:26am May 18, 2010 9:26am
Quoting extraneo
could be considered a break in the downward...

Sure, then it would be a Double Inside Bar and break downward would be with the trend . . Yes I would favor that more. But we gotta wait until it closes first.
Indicators show the past. Price Action "Indicates" the future.
  • #64,086
  • May 18, 2010 9:32am May 18, 2010 9:32am
Quoting jarroo
I like the Daily bearish PB, emil. I understand Dan's point of the uptrend being strong. But the target, 1.1250, is far enough to protect yourself.

Forget the Hourly PPZ level. The weekly PPZ level at 1.1265 maybe a trouble area.

Weekly PPZ levels Rule.

What does this tell me . . the Swissy is icthing to go higher.

A break even trade for me.
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Indicators show the past. Price Action "Indicates" the future.
  • #64,087
  • May 18, 2010 9:50am May 18, 2010 9:50am
Quoting supremeChaos
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Floored, the movie


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Thanks for the heads up, sChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #64,088
  • May 18, 2010 9:52am May 18, 2010 9:52am
Quoting jarroo
Sure, then it would be a Double Inside Bar and break downward would be with the trend . . Yes I would favor that more. But we gotta wait until it closes first.
Jarroo great!
  • #64,089
  • May 18, 2010 9:56am May 18, 2010 9:56am
I am glad I spent the rest of my day studying, going to kendo and drinking beer.

Thanks for the recommendation.


PS: There was a news story today here in Japan about some guy, who embezzled three hundred million Yen from an associate company, and traded it on Forex losing 90% of it.

These guys always amaze me, if they can steal 300,000,000 Yen, why the hell do they feel they have to trade it, why not just escape to a country with no Japanese extradition.

Insane.
  • #64,090
  • May 18, 2010 10:05am May 18, 2010 10:05am
Quoting Pinbar
I am glad I spent the rest of my day studying, going to kendo and drinking beer.

Thanks for the recommendation.


PS: There was a news story today here in Japan about some guy, who embezzled three hundred million Yen from an associate company, and traded it on Forex losing 90% of it.

These guys always amaze me, if they can steal 300,000,000 Yen, why the hell do they feel they have to trade it, why not just escape to a country with no Japanese extradition.

Insane.
Insane indeed. If I had that amount of money I'd probably be better off not trading but investing in passive income. I can spend my days playing games and sipping my favorite drinks out there.
  • #64,091
  • May 18, 2010 10:10am May 18, 2010 10:10am
Quoting fxeturn
Insane indeed. If I had that amount of money I'd probably be better off not trading but investing in passive income. I can spend my days playing games and sipping my favorite drinks out there.
In Asian, you could have 5 lives and live like a king.
Even in Japan, you could have 1.5 lives and live well.
  • #64,092
  • May 18, 2010 10:12am May 18, 2010 10:12am
why not just escape to a country with no Japanese extradition.............................i like this last bit of your statement..........tells me you got THUG BLOOD in you, PINBAR.......................

Insane.[/quote]
  • #64,093
  • May 18, 2010 10:19am May 18, 2010 10:19am
Quoting Danku
why not just escape to a country with no Japanese extradition.............................i like this last bit of your statement..........tells me you got THUG BLOOD in you, PINBAR.......................

Insane.
[/quote]


LOL

Well. if you are going to make such a trade or wager as this guy did, one should always have a stop loss in place.
  • #64,094
  • May 18, 2010 10:21am May 18, 2010 10:21am
Quoting Atc
just a quickie for me
Hey there. I took this one aswell ..... although the more I think about it the more I wonder why. 1.13 not really a BRN, small pin, no additional confluences. I guess that somewhere in the back of my mind I was looking at those RAC 61 fib retracements .... although its not really at that level here.

All that said, I took a tight stop on this trade. Annoyingly those other pins I passed on (due to them being nonA+) actually reached their FTA. Always easier to see what you did wrong after the result!
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  • #64,095
  • May 18, 2010 10:30am May 18, 2010 10:30am
Quoting Pinnocchio_S
Hey there. I took this one aswell ..... although the more I think about it the more I wonder why. 1.13 not really a BRN, small pin, no additional confluences. I guess that somewhere in the back of my mind I was looking at those RAC 61 fib retracements .... although its not really at that level here.

All that said, I took a tight stop on this trade. Annoyingly those other pins I passed on (due to them being nonA+) actually reached their FTA. Always easier to see what you did wrong after the result!

After more than a few beers, but still coherent.
I wonder why you passed on other trades yet took this trade right above the 61.8 fibo?
I am not sure if it was a Long or Short trade as there are no entry lines on the chart.
  • #64,096
  • May 18, 2010 10:31am May 18, 2010 10:31am
Quoting Pinbar
I am glad I spent the rest of my day studying, going to kendo and drinking beer.

Thanks for the recommendation.


PS: There was a news story today here in Japan about some guy, who embezzled three hundred million Yen from an associate company, and traded it on Forex losing 90% of it.

These guys always amaze me, if they can steal 300,000,000 Yen, why the hell do they feel they have to trade it, why not just escape to a country with no Japanese extradition.

Insane.

If I had 300,000,000, Forex is the last market I would try to trade
Many choose unhappiness over uncertainty.
  • #64,097
  • May 18, 2010 10:34am May 18, 2010 10:34am
Quoting Dan Gilbert
If I had 300,000,000, Forex is the last market I would try to trade
You know the average Japanese salary man, earns over 150,000,000 million in their lifetime. And that is living in a rabbit hut.



PS: I would still trade forex, but not with all the money, perhaps 50,000,000 would do just fine.
  • #64,098
  • May 18, 2010 10:45am May 18, 2010 10:45am
Quoting jarroo
Weekly PPZ levels Rule.

What does this tell me . . the Swissy is icthing to go higher.

A break even trade for me.
Jarroo

Can you explain why it tells you it wants to go higher.

I see the weekly Bearish PB being short and well above the PPZ but isn't the daily PPZ not the same PA level?

I mean, the W1 PPZ is at 1.13000 but the daily chart shows 1.1264 something.
  • #64,099
  • May 18, 2010 10:47am May 18, 2010 10:47am
Quoting jarroo
Weekly PPZ levels Rule.

A break even trade for me.
me too, i loss a few hour sleep but gained that experience, thanks.
  • #64,100
  • May 18, 2010 11:06am May 18, 2010 11:06am
Quoting Pinbar
You know the average Japanese salary man, earns over 150,000,000 million in their lifetime. And that is living in a rabbit hut.
yes, but I understand the Japanese actually SAVE their money. A concept the USA is unaware of.
Many choose unhappiness over uncertainty.
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