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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

  • #92,701
  • Mar 31, 2011 10:48am Mar 31, 2011 10:48am
Quoting mbqb11
Simplicity is the key to success, at least the only I have found

Mike
You said it Brother
  • #92,702
  • Mar 31, 2011 11:05am Mar 31, 2011 11:05am
"Now stand back and watch me blow my third account"

very funny indeed
  • #92,703
  • Mar 31, 2011 11:12am Mar 31, 2011 11:12am
Quoting mbqb11
Thanks!

here ya go
Maybe this could have helped manage that trade as well? Or what do you think? I know I'm really in to these wedges right now, but I really like them.

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  • #92,704
  • Mar 31, 2011 11:34am Mar 31, 2011 11:34am
Quoting plund
Maybe this could have helped manage that trade as well? Or what do you think? I know I'm really in to these wedges right now, but I really like them.

Attachment
Hey Plund

It could IF you decided to hold through that. So price intially went up to our FTA then ALL the way back down to under parity a bit. So you would be in a > then 50% drawdown after being up nearly 50% of the bar length. That is pretty tough to stomach. Hindsight looks great now if you held up to this point for a break higher, but I for one know I couldn't handle giving that all back.

Hope that makes sense

Gotta run for the day guys, take care
Mike
  • #92,705
  • Mar 31, 2011 12:29pm Mar 31, 2011 12:29pm
Quoting mbqb11
Hey Plund

It could IF you decided to hold through that. So price intially went up to our FTA then ALL the way back down to under parity a bit. So you would be in a > then 50% drawdown after being up nearly 50% of the bar length. That is pretty tough to stomach. Hindsight looks great now if you held up to this point for a break higher, but I for one know I couldn't handle giving that all back.

Hope that makes sense

Gotta run for the day guys, take care
Mike
Yes, I hear ya. Definitely would have been out way before that wedge started forming.

pat
  • #92,706
  • Mar 31, 2011 1:19pm Mar 31, 2011 1:19pm
Nice bounce from this fibo level, lets see, if it holds.

But look at the 127 fibo extension level coincident ? Time will tell
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  • #92,707
  • Mar 31, 2011 1:22pm Mar 31, 2011 1:22pm
Out of both positions in profit.
Millions more opportunities ahead
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  • #92,708
  • Mar 31, 2011 2:25pm Mar 31, 2011 2:25pm
nice inverted pinbar on gj daily.
sl above 134 seems solid.
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meine augen sind die sterne
  • #92,709
  • Mar 31, 2011 3:27pm Mar 31, 2011 3:27pm
Anybody looking at the monthly BUOB on the EJ?
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  • #92,710
  • Mar 31, 2011 3:37pm Mar 31, 2011 3:37pm
Quoting haircut
Anybody looking at the monthly BUOB on the EJ?
I think by the boxes you've drawn, you already know
  • #92,711
  • Mar 31, 2011 3:57pm Mar 31, 2011 3:57pm
Quoting jarroo
Let's see if the weekly consolidation will continue, GH . ..
It looks like its time to evacuate and maybe reverse the position. This support has been sloshed(does this word even exist lol?) back and forth and i guess it lost its significance as a support. BTW AU had 11th day with higher close but pinbarish today. Wake up Dollar!!
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  • #92,712
  • Mar 31, 2011 4:27pm Mar 31, 2011 4:27pm
Quoting Greenhaze
It looks like its time to evacuate and maybe reverse the position. This support has been sloshed(does this word even exist lol?) back and forth and i guess it lost its significance as a support. BTW AU had 11th day with higher close but pinbarish today. Wake up Dollar!!
Hi GH

Big day tomorrow. The world is holding its breath.

Truly exhausted. Night all
  • #92,713
  • Mar 31, 2011 4:36pm Mar 31, 2011 4:36pm
Quoting haircut
Anybody looking at the monthly BUOB on the EJ?
I would be very careful with the monthly JPY bars.
We had the tusnami this month and this really distorted the JPY pairs.

This bar looks like it is tsunami driven.
  • #92,714
  • Mar 31, 2011 4:40pm Mar 31, 2011 4:40pm
Quoting Ifmyante
Hi GH

Big day tomorrow. The world is holding its breath.

Truly exhausted. Night all

I think you might of learned, l mean earned a little sleep time..
  • #92,715
  • Mar 31, 2011 4:44pm Mar 31, 2011 4:44pm
Quoting Ifmyante
Hi GH

Big day tomorrow. The world is holding its breath.

Truly exhausted. Night all
It is April Fool's Day!

Good night Imfy...
  • #92,716
  • Mar 31, 2011 4:49pm Mar 31, 2011 4:49pm
Quoting Greenhaze
It looks like its time to evacuate and maybe reverse the position. This support has been sloshed(does this word even exist lol?) back and forth and i guess it lost its significance as a support. BTW AU had 11th day with higher close but pinbarish today. Wake up Dollar!!
Yes sloshed does exist.
In UK English slang sloshed means drunk, intoxicated.
Sloshways or sloshwise means at an odd angle, not lying straight.
To slosh means to liberally pour in/over, "he sloshed petrol all over the place and then set fire to the house..."
Sloshing is used when a liquid is wildly agitated in a vessel. "Be careful or you will spill it, it is sloshing about."

True 1.6100 has not been respected on multiple occasions as a PPZ but 1.6000 has acted as resistance on multiple occasions, so to trade this pinbar you are selling straight into it. How about 1.0000 with AUD/CAD earlier this week?
  • #92,717
  • Mar 31, 2011 7:53pm Mar 31, 2011 7:53pm
I dislike money intensely, but it does look impressive here
http://www.pagetutor.com/trillion/index.html

Don't forget to hit the link at the bottom to the US national debt
  • #92,718
  • Mar 31, 2011 8:40pm Mar 31, 2011 8:40pm
Quoting mbqb11
I don't believe that's going to be a problem for you ever again

Simplicity is the key to success, at least the only I have found

Mike
I recommend anyone new to the PF watch the Big guys EURUSDYEAREND video a hundred times. I did and it is just sinking in.
Jim isn't flipping time frames or using solar flares, he is just waiting for daily PA, putting a line below or above the PA depending on if it is bullish or bearish, working out if it came off a good area meaning did it get rejected by this area, and then working out the FTA. That is a great video for sure!
  • #92,719
  • Mar 31, 2011 9:03pm Mar 31, 2011 9:03pm
Quoting Pinbar
I recommend anyone new to the PF watch the Big guys EURUSDYEAREND video a hundred times. I did and it is just sinking in.
Jim isn't flipping time frames or using solar flares, he is just waiting for daily PA, putting a line below or above the PA depending on if it is bullish or bearish, working out if it came off a good area meaning did it get rejected by this area, and then working out the FTA. That is a great video for sure!
Could you talk him into placing it in the guest videos for us poor people
  • #92,720
  • Mar 31, 2011 9:09pm Mar 31, 2011 9:09pm
http://3.bp.blogspot.com/-rr_bbAznjk...%2B3-31-11.png
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