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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

  • #87,221
  • Jan 28, 2011 12:27am Jan 28, 2011 12:27am
Quoting aserbfx
there is one more here.
good?
Hey Al

I would want to see a more concrete third touch to verify the use of a trendline to trade a pullback on. It very well could and is still a logical way to analyze the chart but I am even more picky on my trendlines then I am on just normal breakout patterns, or even PA for that matter.


best
Mike
  • #87,222
  • Jan 28, 2011 12:43am Jan 28, 2011 12:43am
Quoting cprao
Its 1 pip on Oanda - MT4(Demo).

Thanks CP
  • #87,223
  • Jan 28, 2011 1:11am Jan 28, 2011 1:11am
Quoting jarroo
Yes, I agree. . . it is a evolving process.


I like this line in Cyrus's post . ."for the newer folk, learn as much as you can, then simplify as much as you can."

It does take some time to find your own style of doing things.
Now that's exactly what I needed to hear
  • #87,224
  • Jan 28, 2011 2:20am Jan 28, 2011 2:20am
Simple touch trade from very tight ppz zone with 60 pips sl. This week didnt offer much opportunities imo but this one is a nobrainer for me. First touch / momentum decreasing / setup visible even on monthly&weekly tfs. Now its free trade , some profits are banked and i would like to see break of 1.3600 area.
G.
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  • #87,225
  • Jan 28, 2011 2:22am Jan 28, 2011 2:22am
Quoting jarroo
I sure do remember Dan . . .its why we wait for the break . remember . .


What's also cool is looking on the Daily, at that Weekly PPZ level or left eye of the Weekly PB. . 85.60ish.

Notice how we couldn't get a close below it on the Daily . . .pretty cool . .wouldn't you say?
well I'll be..... I didn't notice that lol.


but you and your closes.... golly gee
Many choose unhappiness over uncertainty.
  • #87,226
  • Jan 28, 2011 5:06am Jan 28, 2011 5:06am
Quoting Adilius07
This is interesting. Just found this "technical strategy" by UBS Investments Bank. For USD/CHF. I just don't agree with it.
Do they really trade like that or is it just some BS, just to say something?...
http://www.forexfactory.com/attachme...1&d=1295795053

Absolute fiasco, but I don't see them posting the result for this trade...for some reason
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  • #87,227
  • Jan 28, 2011 5:21am Jan 28, 2011 5:21am
I got in a little to early(patience problem) let's see if its gonna work.
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  • #87,228
  • Jan 28, 2011 5:30am Jan 28, 2011 5:30am
Quoting Adilius07
Absolute fiasco, but I don't see them posting the result for this trade...for some reason
Makes you wonder doesn't it - Thats why I try not to read any of this BS.

I've been short since 96 BTW - lol.
  • #87,229
  • Jan 28, 2011 6:01am Jan 28, 2011 6:01am
Quoting madboy
I got in a little to early(patience problem) let's see if its gonna work.
Well this was fast....
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  • #87,230
  • Jan 28, 2011 6:05am Jan 28, 2011 6:05am
Quoting stewrigh
Makes you wonder doesn't it - Thats why I try not to read any of this BS.

I've been short since 96 BTW - lol.
Its not harmfull knowing what the bigger institutions are doing. I'm not defending UBS but saying its BS becouse of one losing trade is bit over the line imo. RR is a relative thing and you can still make profits even with 30/70 win ratio.
  • #87,231
  • Jan 28, 2011 6:06am Jan 28, 2011 6:06am
Quoting dabbledave
Hi there again.

It seems my location analysis on EURAUD was flawed.

On USDDKK, looking for bullish price action at the 5.4 to go long.

Thoughts?

DD

Hi Dabbledave,

IMHO, the bar is veryy small compared to the previous down move, also the bar is an "indecision bar " notice that it closed in the middle, for a bullish PA we wont them to close at the top of the bar with a big wick/shadow.

Hope it helps.

Os.
Trade Smart
  • #87,232
  • Jan 28, 2011 6:07am Jan 28, 2011 6:07am
Quoting Atc
Man, does it seem the markets this week have been choppy or is it me?

Even practicing sideways market action with some chump change, chicken feed, pennies, I have not seem much opportunity?

I think I'm getting sea sickness or veritgo

It's time to passout. It's wearing my patience thin.

Yeah Atc, my number of trades this week.... 0 !!! lol
Trade Smart
  • #87,233
  • Jan 28, 2011 6:11am Jan 28, 2011 6:11am
Quoting Greenhaze
Its not harmfull knowing what the bigger institutions are doing. I'm not defending UBS but saying its BS becouse of one losing trade is bit over the line imo. RR is a relative thing and you can still make profits even with 30/70 win ratio.
The scary thing here is that we don't really know if they are really doing this or not.. I'm sure their "strategy" is much more sophisticated than that was shown.. So yeah, who cares we need our own methods
  • #87,234
  • Jan 28, 2011 6:12am Jan 28, 2011 6:12am
Quoting Greenhaze
Its not harmfull knowing what the bigger institutions are doing. I'm not defending UBS but saying its BS becouse of one losing trade is bit over the line imo. RR is a relative thing and you can still make profits even with 30/70 win ratio.
All major banks give their predictions, Jpmorgan, Deutsche bank, Citibank etc..
and you will make more money trading against them than trading with them.

Os.
Trade Smart
  • #87,235
  • Jan 28, 2011 6:14am Jan 28, 2011 6:14am
Quoting stewrigh
Makes you wonder doesn't it - Thats why I try not to read any of this BS.

I've been short since 96 BTW - lol.
Yes, it was just interesting to see they give such a detailed call. I used to see a lot of those just more generalized (guess in this case is easier to hide a loss, lol)
  • #87,236
  • Jan 28, 2011 6:16am Jan 28, 2011 6:16am
Quoting madboy
I got in a little to early(patience problem) let's see if its gonna work.
I got stopped on that one.
  • #87,237
  • Jan 28, 2011 6:18am Jan 28, 2011 6:18am
Quoting Adilius07
The scary thing here is that we don't really know if they are really doing this or not.. I'm sure their "strategy" is much more sophisticated than that was shown.. So yeah, who cares we need our own methods
Thats right ...You can never be sure but nevertheless i think it was good setup on its own and i had my order just above this green bar but it never triggered.
  • #87,238
  • Jan 28, 2011 6:26am Jan 28, 2011 6:26am
Quote
I got in a little to early(patience problem) let's see if its gonna work.

Same here. Was a foolish trade and should have listen to my rationality and not take it. Psych of trading can be a bitch...

Anyone seeing the BEOB on EUR/GBP on the hourly? No time to post a chart now because I got a finance exam to go to now... Fun stuff
  • #87,239
  • Jan 28, 2011 6:27am Jan 28, 2011 6:27am
Quoting lallous
I got stopped on that one.
If you took H4 /H1 PB you shouldnt take loss on it becouse price stalled exactly at FTA.
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  • #87,240
  • Jan 28, 2011 6:29am Jan 28, 2011 6:29am
Anyone else watching the EUR/USD?
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