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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

  • #82,881
  • Dec 17, 2010 11:26am Dec 17, 2010 11:26am
Hi ya Everyone..

Could I have some advice on this trade please..

This pair is bugging me a bit as I have made several trades on this pair all for between 30 - 40 pips each but I just can't get more out of it..
As I'm trading from the PB break several days back..
1 Should I actually be waiting for a break of this Resistance line now as it keeps getting near there and then falling back so it could easily reverse short now as it has proved long enough that this may be a strong danger area?
2 The fact it has taken several days is enough time to be raising alarm bells of be careful of this trade now?

Cheers,
Adrian
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  • #82,882
  • Dec 17, 2010 11:29am Dec 17, 2010 11:29am
Quoting mbqb11
A close below the lows and a break of the BEOB puts 1.3 right in sight
Hi Mike, would you be looking for a close using the daily chart or a lower time frame ?
Rgds
Grahame
  • #82,883
  • Dec 17, 2010 11:30am Dec 17, 2010 11:30am
Quoting supremeChaos
ni hao "chom bing" ,
as u know, it takes time.
& depending on where u are now in the trading path, it takes lots of time.

just like what it says in your Custom User title, beside your avatar --- Patience, perseverance...
你好（ni hao），my Philippines friend，i am sorry for i can not write some Philippines words.lol.

thank you for your encouragement,and i am on the way .yes, i am so young ,i need time to grow up. fortunately，i have so many friends and masters around me.

thanks everyone here . give my best wishes to all of you .
A chart helps those who can read it.
  • #82,884
  • Dec 17, 2010 11:31am Dec 17, 2010 11:31am
Quoting mbqb11
Hey Chris

What I was speaking of was that Adrian, took this bar without waiting for a break of the high of the pinbar(it is not an IPB that is a pinbar, notice the open and close are within the prior bar and it has a tail protruding away from the low). So if you take it without waiting for a break it is an unconfirmed bar and thus more aggressive(not necessarily wrong). So I was pointing at to him how if the left eye(which was the lower blue box) could not hold there was not much in the way of support to hold us up and would probably go on past...
Hi Mike,

thanks for explanation.

All the best

Chris
  • #82,885
  • Dec 17, 2010 11:36am Dec 17, 2010 11:36am
LOL
that's remind me the words of Gordon Gekko: "You see that building? I bought that building ten years ago. My first real estate deal. Sold it two years later, made an $800,000 profit. It was better than sex. At the time I thought that was all the money in the world. Now it's a day's pay"

Quoting james16
..............

and how/why - will/would that happen?

luck?

shit no it would be because you understand how to trade.

its freaking liberating.

its better than sex. errrrrr well if your 50 its better than sex.

What does not kill me makes me stronger. Friedrich Nietzsche,
  • #82,886
  • Dec 17, 2010 11:55am Dec 17, 2010 11:55am
Quoting aarangio
Hi ya Everyone..
This pair is bugging me a bit...
1 Should I actually be waiting for a break of this Resistance line now as it keeps getting near there and then falling back so it could easily reverse short now as it has proved long enough that this may be a strong danger area?
2 The fact it has taken several days is enough time to be raising alarm bells of be careful of this trade now?
...
hello Adrian,
i think it depends on your 'time perspective', trading -wise.
if u are a short-term trader, u would be wary of the current situation.
but if u are a long-term trader, current situation wont bug u.

sometimes it takes time for sppt/resistance to break. (in this case, resistance)

i see possibility of continuation upward. (85 - 87.00 immediate roadblock.)
probably towards 90... or 100. who knows.
just my quick view
  • #82,887
  • Dec 17, 2010 11:56am Dec 17, 2010 11:56am
another one guys
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  • #82,888
  • Dec 17, 2010 11:56am Dec 17, 2010 11:56am
Quoting grahamec
Hi Mike, would you be looking for a close using the daily chart or a lower time frame ?
..
Hello Grahame,
he posted a daily chart, so i guess Daily chart
  • #82,889
  • Dec 17, 2010 11:57am Dec 17, 2010 11:57am
Quoting supremeChaos
Hello Grahmae,
he posted a daily chart, so i guess Daily chart
Thanks very much SC
  • #82,890
  • Dec 17, 2010 12:05pm Dec 17, 2010 12:05pm
Quoting supremeChaos
hello Adrian,
i think it depends on your 'time perspective', trading -wise.
if u are a short-term trader, u would be wary of the current situation.
but if u are a long-term trader, current situation wont bug u.

sometimes it takes time for sppt/resistance to break. (in this case, resistance)

i see possibility of continuation upward. (85 - 87.00 immediate roadblock.)
probably towards 90... or 100. who knows.
just my quick view
Hey SC..

cheers, thanks for the time perspective on this..didn't think of that as use to trading Short term charts over the years and now over the last couple of months long term, big change for me but starting to enjoy/embrace it and see the potentials....

probably towards 90... or 100. ....I'll hold you to that..I'm putting all my hard earned cash on that now!!

Thanks for your help..

Adrian
  • #82,891
  • Dec 17, 2010 12:10pm Dec 17, 2010 12:10pm
Quoting ghous
hey Neale,

It's good to have you here.

Welcome to the group.

g.
Hey ghous,
Thanks, Happy to have found the forum.

cheers

neale41
  • #82,892
  • Dec 17, 2010 12:18pm Dec 17, 2010 12:18pm
Quoting aarangio
...
cheers, thanks for the time perspective on this..didn't think of that as use to trading Short term charts over the years and now over the last couple of months long term, big change for me but starting to enjoy/embrace it and see the potentials....
probably towards 90... or 100. ....I'll hold you to that..I'm putting all my hard earned cash on that now!!
...

usdjpy, please start breaking the resistance now!

that forecast is good only until New york close today
hahah...
  • #82,893
  • Dec 17, 2010 12:23pm Dec 17, 2010 12:23pm
Quoting supremeChaos

usdjpy, please start breaking the resistance now!

that forecast is good only until New york close today
hahah...
ohhhhhhhhhh man.....I just put all my money on it!!.....what am I gonna do now, I'm penniless????
  • #82,894
  • Dec 17, 2010 12:28pm Dec 17, 2010 12:28pm
heheh, that was fast.

to be serious, check this out
http://www.forexfactory.com/showthread.php?t=262327
this usdjpy forecast is 1 of my 'patience projects' *.... practicing long-term viewing.
i think we are at the same stage... trying long term trading

*im a member of Patience Anonymous, sister company of Alcoholics Anonymous
  • #82,895
  • Edited 1:12pm Dec 17, 2010 12:44pm | Edited 1:12pm
Quoting supremeChaos
heheh, that was fast.

to be serious, check this out
http://www.forexfactory.com/showthread.php?t=262327
this usdjpy forecast is 1 of my 'patience projects' *.... practicing long-term viewing.
i think we are at the same stage... trying long term trading
Cool.. you have to have bottomless pockets for that stuff but don't you?, is it really possible to trade in this way as what happened to myself I traded shares in this long term idea of adding and I left that with a very nice profit that I was very happy to have and then went onto currencies and blew all of my profits in less than 2months....the worst thing is I added more and more money and kept trading like shares and I won't mention my losses but boy was that a shock to my system after forcing myself out of trading as I did with the shares concept and revenge trading at the same time...

You've only started the long term trading?...I thought you were a master at this for years.... Definitely a shock to the system trying to shake the short term trading bug....but wooow!, I really feel alot more relaxed doing this now compared to Short Term although the first month was the hardest for me and even better I've been doing paper trading to get the hang of it for over a month now...that's a record for me! ....always use to get a nice profit within a couple of weeks then walk away from it before...

Quote
*im a member of Patience Anonymous, sister company of Alcoholics Anonymous
a haaaaa!, I knew I met you some where before!!

Adrian
  • #82,896
  • Dec 17, 2010 12:47pm Dec 17, 2010 12:47pm
cut it out
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  • #82,897
  • Dec 17, 2010 12:49pm Dec 17, 2010 12:49pm
Quoting grahamec
Hi Mike, would you be looking for a close using the daily chart or a lower time frame ?
Rgds
Grahame
Hey Grahame

Always on the same timeframe as my analysis. I really won't trade that though, I was more pointing out what James is going to be looking for for his trade to continue. I will be watching the gbp/usd. But again that is a continuation so I tend to not really want to over do that with the basics.

Best
Mike
  • #82,898
  • Edited 1:01pm Dec 17, 2010 12:49pm | Edited 1:01pm
lol..Supreme, you crack me right up!
I am just patiently alcoholic or I plan to be!! have a great weekend dude and everyone!..
RS


Quoting supremeChaos
heheh, that was fast.

to be serious, check this out
http://www.forexfactory.com/showthread.php?t=262327
this usdjpy forecast is 1 of my 'patience projects' *.... practicing long-term viewing.
i think we are at the same stage... trying long term trading

*im a member of Patience Anonymous, sister company of Alcoholics Anonymous
  • #82,899
  • Dec 17, 2010 12:59pm Dec 17, 2010 12:59pm
[quote=james16;

its better than sex. errrrrr well if your 50 its better than sex.

:[/QUOTE]

..come on boss!! if thats the case im off!!! ..jus 8 years to stay crap n i can enjoy my sex life!!phew!!


great post, inspiring
cheers
jon

Quote
for you new people all i have done here is

1. do my best to find a set up that would give me a decent profit initially with some good momentum.
2. Use my understanding of support and resistance to try and stay in the trade for a larger move.
3. not allow a winner to turn into a loser ESPECIALLY AFTER WATCHING PRICE HIT AN INITIAL AREA OF S/R.

thats it.

sometimes your right and sometimes your not but you use your chart time and demo to get good at these simple points

ITS REALLY NOT THAT HARD ON A DAILY CHART WHEN YOU GET GOOD AT IT....
PATIENCE... DISCIPLINE
  • #82,900
  • Dec 17, 2010 1:04pm Dec 17, 2010 1:04pm
Quoting supremeChaos

*im a member of Patience Anonymous, sister company of Alcoholics Anonymous
lol is your energy tradeable!!??lol
is there anything you havnt tried??
and a child!!

i miss your colorful posts (played havoc wid my eyesight but certainly brightened up my day!)

jon
PATIENCE... DISCIPLINE
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