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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

  • #71,601
  • Aug 13, 2010 4:48pm Aug 13, 2010 4:48pm
Quoting mbqb11
uh oh you better crack a beer and get reading
I notice the words start to make less sense by the end of chapter six. LOL. But then again I'm a light weight.http://cdn.forexfactory.com/images/icons/icon10.gif
  • #71,602
  • Aug 13, 2010 5:12pm Aug 13, 2010 5:12pm
Quoting mbqb11
update 2
Exactly, thanks Mike
  • #71,603
  • Aug 13, 2010 6:37pm Aug 13, 2010 6:37pm
I am looking for advice on my analysis of this daily on the eur/usd. I am seeing confluence due to the crossover on MACD, break of the 50 on the RSI and a break of the .382 fib. Would a reasonable TP point on a short trade be just above the .50 fib? Thank you


http://i839.photobucket.com/albums/z...snapshot-3.png
  • #71,604
  • Aug 13, 2010 6:51pm Aug 13, 2010 6:51pm
Quoting tjc1020
I am looking for advice on my analysis of this daily on the eur/usd. I am seeing confluence due to the crossover on MACD, break of the 50 on the RSI and a break of the .382 fib. Would a reasonable TP point on a short trade be just above the .50 fib? Thank you


http://i839.photobucket.com/albums/z...snapshot-3.png
Currently sitting on support, if I had price action confirmation maybe a pinbar I would actually go long here. Wait for it to see what it does at this level, might rebount a bit.
  • #71,605
  • Aug 13, 2010 10:05pm Aug 13, 2010 10:05pm
Quoting tjc1020
I am looking for advice on my analysis of this daily on the eur/usd. I am seeing confluence due to the crossover on MACD, break of the 50 on the RSI and a break of the .382 fib. Would a reasonable TP point on a short trade be just above the .50 fib? Thank you


http://i839.photobucket.com/albums/z...snapshot-3.png
As a rule of thumb confluence for J16ers is always on the chart, a MACD crossover and the RSI breaking 50 are of no importance to us when it comes to confluence.

Confluence is more in terms of price action. Fib levels over lapping, MAs, price pivot zones and round numbers.

Also for take profit levels I would still recommend using only price pivot zones as they matter the most when it comes to "where price is going"

g.
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I believe . . .
  • #71,606
  • Aug 13, 2010 10:38pm Aug 13, 2010 10:38pm
Quoting ghous
As a rule of thumb confluence for J16ers is always on the chart, a MACD crossover and the RSI breaking 50 are of no importance to us when it comes to confluence.

Confluence is more in terms of price action. Fib levels over lapping, MAs, price pivot zones and round numbers.

Also for take profit levels I would still recommend using only price pivot zones as they matter the most when it comes to "where price is going"

g.

Ghous

I think you are just pointing out what confluence is in this chart.
But, how are you getting confluence at that area as the last low did not exist when price was around the 150.
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  • #71,607
  • Aug 13, 2010 10:46pm Aug 13, 2010 10:46pm
Quoting Pinbar
Ghous

I think you are just pointing out what confluence is in this chart.
But, how are you getting confluence at that area as the last low did not exist when price was around the 150.
Just outlining how and where to locate confluence.

g.
I believe . . .
  • #71,608
  • Edited 11:01pm Aug 13, 2010 10:51pm | Edited 11:01pm
Quoting ghous
Just outlining how and where to locate confluence.

g.

Phew, I thought I was missing some secret way of finding confluence. LOL

Thanks


PS: Wonder if we are going all the way to the 1.2600?
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  • #71,609
  • Aug 13, 2010 11:13pm Aug 13, 2010 11:13pm
For me, the best setup this month so far..

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  • #71,610
  • Aug 13, 2010 11:26pm Aug 13, 2010 11:26pm
about what I've been reading at fxstreet that says retail forex will be over for American citizens as of the end of Oct. 2010 as per the bill signed by Obama on July 21. No hiding out in accounts overseas either....haven't seen any mention of this on forex factory. Please enlighten me James 16.....thank you. Susan~
  • #71,611
  • Aug 13, 2010 11:46pm Aug 13, 2010 11:46pm
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Just migrate to the nearest country next to you.
I have seen the enemy, and it is me.
  • #71,612
  • Edited 1:07am Aug 14, 2010 12:48am | Edited 1:07am
Quoting go4pips
about what I've been reading at fxstreet that says retail forex will be over for American citizens as of the end of Oct. 2010 as per the bill signed by Obama on July 21. No hiding out in accounts overseas either....haven't seen any mention of this on forex factory. Please enlighten me James 16.....thank you. Susan~

No link to this article you read?

I know my broker (IBFX) has been working on setting up shop in the UK, and told me that I could transfer funds there if things got bad in the US. I really doubt trading funds from a different country will be allowed though. All I can tell you is that the anti-capitalist administration that we currently have needs to go. If this article you read is in regards to the 10:1 rule, I'm not very concerned, but to block out any form of trading is absolutely disgusting (including all derivatives).

Canada is looking better and better everyday, and I honestly believe many smart, wealthy people will begin emigrating from this country to find more freedom for opportunity.



EDIT: I think I found what your concern is.

http://www.financialsense.com/print/...hreatens-forex

then read this:

http://www.forexfactory.com/showpost...postcount=5678
Many choose unhappiness over uncertainty.
  • #71,613
  • Aug 14, 2010 1:38am Aug 14, 2010 1:38am
what about this ipb?
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meine augen sind die sterne
  • #71,614
  • Aug 14, 2010 1:48am Aug 14, 2010 1:48am
daily pinbar on usd/cad.
con: the close of the pb is not inside the prior bar.
pro: closed above rn 1.04
fta around 1.0480 - 1.0500
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meine augen sind die sterne
  • #71,615
  • Aug 14, 2010 2:03am Aug 14, 2010 2:03am
I'm slightly skeptical of this one, but it should work to the FTA on either side IMO.
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Many choose unhappiness over uncertainty.
  • #71,616
  • Aug 14, 2010 2:23am Aug 14, 2010 2:23am
3 trades I took this week. PA rocks.
Have a nice weekend everyone.
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  • #71,617
  • Aug 14, 2010 2:41am Aug 14, 2010 2:41am
LOVE IT
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  • #71,618
  • Aug 14, 2010 3:24am Aug 14, 2010 3:24am
Quoting ts63
3 trades I took this week. PA rocks.
.
very nice

Quoting Kika
LOVE IT
u traded those 2?
another http://cdn.forexfactory.com/images/s.../moneyeyes.gif
  • #71,619
  • Aug 14, 2010 3:27am Aug 14, 2010 3:27am
Quoting Kika
LOVE IT

Yeah, I agree.
There seems to be a level of almost comfort in ranges.

Just watching USD/CHF which seemed to work well until the 150 has come into play.

Playing the ranges and waiting for the breakout, sounds like a decent plan.
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  • #71,620
  • Aug 14, 2010 4:51am Aug 14, 2010 4:51am
Do you think this could be a good IB short?
I have just started to look for I4B's, still having many doubts.
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