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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

  • #96,221
  • Jun 9, 2011 3:57am Jun 9, 2011 3:57am
usdcad swing trade short , im sry but im not familiar with the short terms u guys r using in here .... will it explain in detail tough

ok...usdcad weekly and daily chart ( enough to enter a swing trade )

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weekly chart is in downtrend since may 2009.
PA broke 9800/9850 area ,retested it and dropped again. now we got another retest.
weekly and daily clearly show LH,LL,LH,LL,LH,LL etc. pp

target : .9060. stops above 1.0000 level.

r:r .... 1:5

time span: hard to say ... ^^ ill think about 6-7 months

kind regards
Jonas
Hero calls followed by margin calls...
  • #96,222
  • Jun 9, 2011 4:48am Jun 9, 2011 4:48am
Quoting g_j_hook@yah
hey Adi, hows the job going??
i like this also. this pair is good at ranging and wouldnt supprise me if we see .8850 by this time tomorro?? i do have divergence on my RSI 9 period, and it looks a good bar. i would want a close below .8900 though. My FTA would be .8870ish with a target of .8750

jon
I took the same trade also providing the low of the BEOB is broken. What I also like about the clear FTA is that it lines up with 38.2 Fib from the recent swing low. Interestingly the 50% also lines up with another trouble area, so should make it very clear if we're going to see a bounce and continuation upwards.
  • #96,223
  • Jun 9, 2011 4:55am Jun 9, 2011 4:55am
Quoting Dan-FX
I took the same trade also providing the low of the BEOB is broken. What I also like about the clear FTA is that it lines up with 38.2 Fib from the recent swing low. Interestingly the 50% also lines up with another trouble area, so should make it very clear if we're going to see a bounce and continuation upwards.
i just read that and i should have said target is .8850 not .8750.. doh

eu/nz is lookin ok right now also imho...

jon
PATIENCE... DISCIPLINE
  • #96,224
  • Jun 9, 2011 4:55am Jun 9, 2011 4:55am
2 Day Pin Bar on Eur/Usd , good rejection at 4700 ( BRN ) , any Thoughts !!
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  • #96,225
  • Jun 9, 2011 5:06am Jun 9, 2011 5:06am
Quoting Riskee
2 Day Pin Bar on Eur/Usd , good rejection at 4700 ( BRN ) , any Thoughts !!
looks like it could be forming an H+S on the 4H also...


jon
PATIENCE... DISCIPLINE
  • #96,226
  • Jun 9, 2011 5:35am Jun 9, 2011 5:35am
Well guys glad I decided to stay out of the EUROCAD and EUROGBP daily setups last nite as nothing seems to be happening today, ie no momentum. EUROCAD was a small pin after previously huge bullish bars and EUROGBP was zery close to FTA so not worth the risk.

Now, although its frustrating to not take a trade when you want to and are getting impatient, staying out is the right thing to do if its not a good quality setup. Previously I would have taken these trades so I must be making a little bit of progress in refusing them!!

Kal
  • #96,227
  • Jun 9, 2011 5:44am Jun 9, 2011 5:44am
Quoting Kalbar
Well guys glad I decided to stay out of the EUROCAD and EUROGBP daily setups last nite as nothing seems to be happening today, ie no momentum. EUROCAD was a small pin after previously huge bullish bars and EUROGBP was zery close to FTA so not worth the risk.

Now, although its frustrating to not take a trade when you want to and are getting impatient, staying out is the right thing to do if its not a good quality setup. Previously I would have taken these trades so I must be making a little bit of progress in refusing them!!

Kal
You can't say much now really. It is to early to tell. We have GB and EU rates decission later today. That is why You dont see any momentum at the moment. Those bars didn't trigger yet.
  • #96,228
  • Jun 9, 2011 5:46am Jun 9, 2011 5:46am
Hi Kalbar

Well done on passing on average trades

Its taken me months to finally realise that my main objective is to earn money and not just trade to satisfy the side of me who needs a buzz

I'd guess the reason the Euro has been dead all week is b/cuz of the news today so expect to see some sparks

Anthony
  • #96,229
  • Jun 9, 2011 6:38am Jun 9, 2011 6:38am
Quoting antgal23
Hi Kalbar

Well done on passing on average trades

Its taken me months to finally realise that my main objective is to earn money and not just trade to satisfy the side of me who needs a buzz

I'd guess the reason the Euro has been dead all week is b/cuz of the news today so expect to see some sparks

Anthony
Hey anthony

Has taken me a long time too to stay out of average setups!! Like you and Greenhaze say the news may spark some moves but still going to stay out because IMHO these are not A+ setups so will pass on them and wait for better ones to come along!

Kal
  • #96,230
  • Jun 9, 2011 6:47am Jun 9, 2011 6:47am
Nzd/usd has broken above the monthly higts - looks interesting for me,

Peter
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Jesus Christ is my only Lord !
  • #96,231
  • Jun 9, 2011 7:05am Jun 9, 2011 7:05am
Quoting hipcio
Nzd/usd has broken above the monthly higts - looks interesting for me,

Peter
Hey peter

This is worth watching to see what happens. Just took a look at your other thread/journal - are you starting it up again anytime soon?

Kal
  • #96,232
  • Jun 9, 2011 7:07am Jun 9, 2011 7:07am
Quoting Kalbar
Hey peter

This is worth watching to see what happens. Just took a look at your other thread/journal - are you starting it up again anytime soon?

Kal
Hey Kal,
hope so,

Peter
Jesus Christ is my only Lord !
  • #96,233
  • Jun 9, 2011 8:02am Jun 9, 2011 8:02am
Is this a valid pinbar? not so big space but really long nose
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----------------------------- Discipline makes the difference.
  • #96,234
  • Edited 8:30am Jun 9, 2011 8:06am | Edited 8:30am
Few more pips to go...
not sure how long it will go so taking full profit at 0.8850..
volume was 0.20(entry at retrace to get palatable R:R)
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  • #96,235
  • Jun 9, 2011 8:40am Jun 9, 2011 8:40am
Quoting CavinK
Is this a valid pinbar? not so big space but really long nose
It looks great to me atleast.
Missed it though...
the story was great..almost like a triple top..i think at such times its fine to compromise on space(Mike shall correct me if im wrong),not tryin to act as smart ass or something ..

the pinbar n story was appealing...
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  • #96,236
  • Jun 9, 2011 8:47am Jun 9, 2011 8:47am
Hi , I spend sometime to learn this method, and begin to Demo trading

I mark some PA in the following chart , does it right or wrong? thanks .

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Try to understand English Try to understand Forex
  • #96,237
  • Jun 9, 2011 8:57am Jun 9, 2011 8:57am
Yeah this one was really easy!

My congratulations to EURCAD short sellers as well !

Together we are gonna make it happen!
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  • #96,238
  • Jun 9, 2011 9:03am Jun 9, 2011 9:03am
Yes Av, I am in EURCAD and its going well.

Quoting Adilius07
Yeah this one was really easy!

My congratulations to EURCAD short sellers as well !

Together we are gonna make it happen!
  • #96,239
  • Jun 9, 2011 9:07am Jun 9, 2011 9:07am
Quoting Patrick.
Yes Av, I am in EURCAD and its going well.
EURCAD is falling like a rock!
  • #96,240
  • Jun 9, 2011 9:22am Jun 9, 2011 9:22am
ghous.....i can see you .....

lol

jon
PATIENCE... DISCIPLINE
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