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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

  • #84,481
  • Jan 4, 2011 12:42pm Jan 4, 2011 12:42pm
Quoting mbqb11
Don't know anything about fundies, or why today not yesterday. But it's massively over bought and looks due for it

Cheers Mike,
Much appreciated. The power of trendlines is just amazing.
  • #84,482
  • Jan 4, 2011 12:46pm Jan 4, 2011 12:46pm
Quoting Pipage
Any fundamental reason why Gold fell 400+ pips today.
Also don't have any idea about Fundm. but I can give you a good technical J16 reason for it

Here you go, not the best size but as many times Seniors say here- even weak ones many times work well!
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  • #84,483
  • Jan 4, 2011 1:26pm Jan 4, 2011 1:26pm
I swear I just noticed and posted up this chart before coming here - Gold shorts looking good any time soon?
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Anything can happen.
  • #84,484
  • Jan 4, 2011 1:29pm Jan 4, 2011 1:29pm
Quoting Osman
Hi guys,

This is the trade I like today...

We´ve got..

+Rejection from the 1.75 area BRN, possible retest after the breakout
+Divergence, making lower highs and higher highs on RSI
+61.8 Fib from last swing and 38.2 from 1.80 swing
+We´ve got the 150ema above
+Nice big PB
+Space for a down move

My 1st FTA will be around 1.7360 although due to the size of PB and confluences I think we can get lower.

- 15 pips spread on my broker
- Very strong bullish move before it.

Comments are welcomed.

Os.
I like that trade
Your posts are great OS !
  • #84,485
  • Jan 4, 2011 1:38pm Jan 4, 2011 1:38pm
Hi Ghous,

Was this an IPB on AUDCAD?

I have re-read the link that you had shared... but still find it a little difficult to understand / identify IPBs.

0908

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  • #84,486
  • Jan 4, 2011 2:14pm Jan 4, 2011 2:14pm
Quoting forex0908
Hi Ghous,

Was this an IPB on AUDCAD?

I have re-read the link that you had shared... but still find it a little difficult to understand / identify IPBs.

0908

Attachment
Yep that sure is, as far as I know em
  • #84,487
  • Jan 4, 2011 2:18pm Jan 4, 2011 2:18pm
Quoting ddinnov
I swear I just noticed and posted up this chart before coming here - Gold shorts looking good any time soon?
  • #84,488
  • Jan 4, 2011 2:18pm Jan 4, 2011 2:18pm
How many of you have traded currency options, and what is your opinion about it?
  • #84,489
  • Jan 4, 2011 2:39pm Jan 4, 2011 2:39pm
Quoting Atc
After looking at your chart....I noticed on my 3 different feeds price closed at .5493 FXpro .5512 FXCM .5576 MBT

Another reason to wait for more PA
Your right Bill . . .many feeds showed the 1.5500 to still act as Resistance . .which it did nicely. PA confirmation is good reason to wait.

I think its safe to say that 1.5500 can now be a potential Support level. (still a bit early).
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Indicators show the past. Price Action "Indicates" the future.
  • #84,490
  • Jan 4, 2011 3:07pm Jan 4, 2011 3:07pm
Quoting aserbfx
thanks for posting. i was waiting for this breakout since weeks. i refused to enter because of negative market today.
with a possible negative s&p today, i would wait for retest. let's check the daily volume of the breakout later...
i like to shoot myself.
disney closed at dayhigh on good volume. i am sure that this will not come back to retest the 38 usd.
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meine augen sind die sterne
  • #84,491
  • Jan 4, 2011 3:07pm Jan 4, 2011 3:07pm
Quoting Pinbar
Thanks Jaroo, I have been practicing this art over the hols.

Here is a quick video of a similar area I found on AUD/JPY which looks to be current. I will delete the video once you have seen it.

EDIT: That BUEOB also has TL confluence.
which I forgot....Doh...

http://www.youtube.com/watch?v=lE0HV8VT33Y

Nicely done Steve.

Now can you imagine only taking setups like that BUOB at the 80.00 with all of its confluences . .BRN, PPZ, EMAs, 50% ret., trendline, Size . .only trading setups like that. . . . Well that's what the picky traders do. Some do it on the Daily and some do it on the Hourly. But they all do it with a ton of confluences as it relates to Location and PA.

I also liked how you pointed out PPZ levels in the video . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,492
  • Jan 4, 2011 3:09pm Jan 4, 2011 3:09pm
Quoting aserbfx
i like to shoot myself.
disney closed at dayhigh on good volume. i am sure that this will not come back to retest the 38 usd.

Are you sure about that . . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,493
  • Jan 4, 2011 3:24pm Jan 4, 2011 3:24pm
Quoting KissFan
Headed to 1.5779 this week?

K.I.S.S.

If we can get a strong close above the 1.5650 . .I like its chances.
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Indicators show the past. Price Action "Indicates" the future.
  • #84,494
  • Edited 3:41pm Jan 4, 2011 3:31pm | Edited 3:41pm
Quoting aserbfx
i like to shoot myself.
disney closed at dayhigh on good volume. i am sure that this will not come back to retest the 38 usd.
looks nice.
hopefully weekly & up favors the upmove further.
let's see how this week &/or next week ends up.

Quoting jarroo
If we can get a strong close above the 1.5650 . .I like its chances.
makes sense to me.
i see possibility it will weekly-close at/above it this Friday, if not next week.
if bullishly so, 1.60 - 1.63 doesnt seem far-fetched in 2week's time.
a close above 1.5650, then 1.58/1.59 would confirm this possible path.
let's see.
  • #84,495
  • Jan 4, 2011 3:31pm Jan 4, 2011 3:31pm

Quoting jarroo
Your right Bill . . .many feeds showed the 1.5500 to still act as Resistance . .which it did nicely. PA confirmation is good reason to wait.

I think its safe to say that 1.5500 can now be a potential Support level. (still a bit early).
  • #84,496
  • Jan 4, 2011 3:40pm Jan 4, 2011 3:40pm
Quoting fxprocessor
Happy new year guys! Hope you all have a great trading year!

Back at you, fxp . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,497
  • Jan 4, 2011 4:02pm Jan 4, 2011 4:02pm
Quoting Atc
This is what i was watching...also it would be a better trade imo if it was the FTB to here....don't like the Divergence and 8h Pb for the long...
just my opinion ..it may still break ...let's see...
I like your blue line or area on your chart Atc. . .the 83.00.
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Indicators show the past. Price Action "Indicates" the future.
  • #84,498
  • Jan 4, 2011 4:06pm Jan 4, 2011 4:06pm
Quoting aserbfx
i like to shoot myself.
disney closed at dayhigh on good volume. i am sure that this will not come back to retest the 38 usd.
Just did some research on your disney. And this break out may go up to 39.9 and 40.75 I would be looking for typical j 16 reversal somewhere around there..

Just my 2 cents thanks!
Best V
  • #84,499
  • Jan 4, 2011 4:11pm Jan 4, 2011 4:11pm
Hey menomoo,

Thx for your advice.. I really dont know a lot about elliot waves but know that 5 is the last one... if we get a retrace ill treat it with caution, if we get to the 40 without retrace, its a pass for me.

Thx buddy
Os.

Quoting menomoo
hey os!!!

That break out happen to be at a triangle area.. You know what that means ... Usually if triangle happens to be neer highs , it may mean in elliot wave count wave 4 and that is just before 5 so break out might be wave 5 ...So treat it with caution please.

Just my opinion .And waiting for a retrace sounds good to me ...

cheers V
Trade Smart
  • #84,500
  • Jan 4, 2011 4:13pm Jan 4, 2011 4:13pm
Quoting lallous
I like that trade
Your posts are great OS !
Thx lallous, I appreciate your comments.

Os.
Trade Smart
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