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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

  • #67,381
  • Jun 25, 2010 4:28am Jun 25, 2010 4:28am
Quoting extraneo
turning point upwards or downwards?
I took what fxp posted as upwards.
Indicators show the past. Price Action "Indicates" the future.
  • #67,382
  • Jun 25, 2010 4:33am Jun 25, 2010 4:33am
Quoting mordre
AQuestion for the big boys... Do you leave positions (like GU now) open over-weekend ?
I am still in kindergarten but:

We study the trades to avoid gambling.
Unknowns are a gamble
Do you know what will happen over the weekend?
Pairs can move 100's even over 1000 pips during the weekend.
This can put you in the red or black - it is a gamble.

The gap appearing on Sunday evening is not usually so large and almost always the gap closes taking you back to the position you would have been in had you closed out on the Friday.

From the people I have seen comment, most prefer to play safe and close out on Friday. They can judge what to do Sunday.
Let say you close out at 100. You are short.
On Sunday it reopens at 102. If you still think it is good you have more profit to capture.
If it goes to 98, remember the gap almost always closes so you aren't really worse off except your spread.
  • #67,383
  • Jun 25, 2010 4:43am Jun 25, 2010 4:43am
This pair is heading back to 1.05 RN. We have daily and weekly ppz and multiple fib conlfuence in this area. Some nice PA in this area early next week could be interesting. What do y'all think?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: cad chf 2jun10.gif Size: 42 KB
  • #67,384
  • Jun 25, 2010 4:52am Jun 25, 2010 4:52am
Quoting jarroo
I ain't no big boy . . but It depends on the pip cushion I have going into the weekend less then 50-75 pips I may close it . My 1.5000 touch trade I would leave on.
Heh sweet price

What's your management going to be on this one ? I was short off the 1HR BEOB yesterday but exited my full positioin at the 1.4871 level.
  • #67,385
  • Jun 25, 2010 4:58am Jun 25, 2010 4:58am
Quoting jarroo
I took what fxp posted as upwards.
Yes mate correct. I was referring to a possible breakout, pullback, continuation scenario. I am flat the market so have no preference but interesting to watch for now.

cheers

fxp
  • #67,386
  • Jun 25, 2010 4:58am Jun 25, 2010 4:58am
Quoting fxeturn
Here you go. Attachment

It's a template from my MT4. Actually you can manually create it by dragging the RSI into the MACD.
fxeturn,
Dragging RSI into MACD didn't do it for me. I use Fxpro mt4. Template ok but I would love to be to creat it the way you said - dragging. Can you possibly explain how to?
  • #67,387
  • Jun 25, 2010 5:01am Jun 25, 2010 5:01am
Quoting djmartymac
This pair is heading back to 1.05 RN. We have daily and weekly ppz and multiple fib conlfuence in this area. Some nice PA in this area early next week could be interesting. What do y'all think?

Price sure looks like it got a beeline to the 1.0500. ( beeline? is that right?)
Indicators show the past. Price Action "Indicates" the future.
  • #67,388
  • Jun 25, 2010 5:03am Jun 25, 2010 5:03am
Quoting Jigsaw
Heh sweet price

What's your management going to be on this one ? I was short off the 1HR BEOB yesterday but exited my full positioin at the 1.4871 level.

The Rac special . . . 1.5000, 30 pip stop loss.
Indicators show the past. Price Action "Indicates" the future.
  • #67,389
  • Jun 25, 2010 5:04am Jun 25, 2010 5:04am
Quoting jarroo
Price sure looks like it got a beeline to the 1.0500. ( beeline? is that right?)
Definition Cambridge University Dictionary

make a beeline for
to go directly and quickly towards

At parties he always makes a beeline for the prettiest woman in the room.
  • #67,390
  • Jun 25, 2010 5:05am Jun 25, 2010 5:05am
Quoting fxprocessor
Yes mate correct. I was referring to a possible breakout, pullback, continuation scenario. I am flat the market so have no preference but interesting to watch for now.

cheers

fxp

Yes, breakout pullback . .I like to get under that line and call it a false breakout. lol
Indicators show the past. Price Action "Indicates" the future.
  • #67,391
  • Jun 25, 2010 5:07am Jun 25, 2010 5:07am
Quoting jarroo
Yes, breakout pullback . .I like to get under that line and call it a false breakout. lol
Yes if under the line it could also provide momentum as it is a potential energy point with potential order clusters.
  • #67,392
  • Jun 25, 2010 5:10am Jun 25, 2010 5:10am
Quoting six gun
Definition Cambridge University Dictionary

make a beeline for
to go directly and quickly towards

At parties he always makes a beeline for the prettiest woman in the room.

Thanks sChaos . . .ooops . . . thanks SG.
Indicators show the past. Price Action "Indicates" the future.
  • #67,393
  • Jun 25, 2010 5:12am Jun 25, 2010 5:12am
Quoting fxprocessor
Yes if under the line it could also provide momentum as it is a potential energy point with potential order clusters.
I like the sound of that fxp.
Indicators show the past. Price Action "Indicates" the future.
  • #67,394
  • Jun 25, 2010 5:20am Jun 25, 2010 5:20am
Quoting jeffokes
fxeturn,
Dragging RSI into MACD didn't do it for me. I use Fxpro mt4. Template ok but I would love to be to creat it the way you said - dragging. Can you possibly explain how to?
Put the MACD on your chart as normal. Then open navigator from the toolbar menu at the top.Open indicators folder then drag RSI from here and drag it onto your MACD below your chart. Hope this helps
  • #67,395
  • Jun 25, 2010 5:22am Jun 25, 2010 5:22am
2nd target hit, which looks little stronger.

I like how Price tested the 1.4900 instead of the break. Good sign . . for now.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #67,396
  • Jun 25, 2010 5:29am Jun 25, 2010 5:29am
Quoting jarroo
Here's one that I missed datogio. Multi confluences, lining up with PA confirmation.
Missed this one too. TL and PPZ confluence...
Attached Image (click to enlarge)
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  • #67,397
  • Jun 25, 2010 5:34am Jun 25, 2010 5:34am
Quoting datogio
Missed this one too. TL and PPZ confluence...
Nice one datogio. Looks like you use that .7000 to your advantage.
Indicators show the past. Price Action "Indicates" the future.
  • #67,398
  • Edited 6:18am Jun 25, 2010 5:35am | Edited 6:18am
Quoting jarroo
Nice one datogio. Looks like you use that .7000 to your advantage.
0.7000 looks interesting but later
  • #67,399
  • Jun 25, 2010 5:50am Jun 25, 2010 5:50am
Quoting datogio
Missed this one too. TL and PPZ confluence...
Sorry, datogio but what exactly did you miss?
I don't see any PA bar that points to a setup; please clarify.
Thanks.

CY
  • #67,400
  • Jun 25, 2010 5:56am Jun 25, 2010 5:56am
Quoting ertorque
Sorry, datogio but what exactly did you miss?
I don't see any PA bar that points to a setup; please clarify.
Thanks.

CY
Hi. I was thinking to enter without PA, but couldn't dare, later I missed bearish PB on 4H.
Attached Image (click to enlarge)
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