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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

  • #97,141
  • Jun 23, 2011 2:37am Jun 23, 2011 2:37am
Quoting huskyboy
what about this BEOB ?
I wouldn't mind one of the senior members answering this exact question (before it moves) - more for clarity of this example than anything else.
  • #97,142
  • Jun 23, 2011 2:42am Jun 23, 2011 2:42am
Quoting Knight Rider
I wouldn't mind one of the senior members answering this exact question (before it moves) - more for clarity of this example than anything else.
Would really appreciate it if somebody (senior member) talked "Huskyboy" why he should/shouldn't take this trade and again - BEFORE IT MOVES.

Thanks,
KR
  • #97,143
  • Jun 23, 2011 2:43am Jun 23, 2011 2:43am
Quoting huskyboy
what about this BEOB ?
I am not a senior here but i noticed that tight stop. Is it entry stop or did You trail it.
With this tight stop on entry You know you cant lose that trade . 1.6000 BRN is near and 1.5980 mucho strong support is just below. Good luck!
  • #97,144
  • Jun 23, 2011 3:23am Jun 23, 2011 3:23am
Quoting Greenhaze
I am not a senior here but i noticed that tight stop. Is it entry stop or did You trail it.
With this tight stop on entry You know you cant lose that trade . 1.6000 BRN is near and 1.5980 mucho strong support is just below. Good luck!
Nobody willing to put their neck on the line?

We are all "pals" on this thread, are we not? I don't do taking the p*ss out of someone.

Just plain and simple engish - pun intended.

KR
  • #97,145
  • Jun 23, 2011 3:39am Jun 23, 2011 3:39am
Quoting Knight Rider
Nobody willing to put their neck on the line?

We are all "pals" on this thread, are we not? I don't do taking the p*ss out of someone.

Just plain and simple engish - pun intended.

KR
I didn't like this set up and I doubt it is a "continuation". That's my take on it.

Thanks Greenhaze for taking the time to post a reply.

KR
  • #97,146
  • Jun 23, 2011 3:41am Jun 23, 2011 3:41am
You might say that He is playing against the 1.600 BRN, selling into the support / last lows but for momentum traders that might be good position. There is no "one fit all" answer here. GBP is sold heavily not without the reason but i wont go into details here Cheers!
  • #97,147
  • Jun 23, 2011 3:46am Jun 23, 2011 3:46am
I suspect cable has been a bit of a nightmare for breakout traders over the last few months.

My technical analysis led me to believe GBP would go to 1.70-1.80 by the end of June when I looked at this pair back in March. Well, it looks like I am wrong on this one (at least with regard to the timeframe).

I suppose it is a question of inflation (currency depreciation) through "quantitative inflation". Who can inflate the fastest (proportionally): America or Great Britain?

Who on earth would anyone want to be buying long term Treasury debt right now? Somebody is though and I doubt it has to do with many foreign buyers.

KR
  • #97,148
  • Jun 23, 2011 3:51am Jun 23, 2011 3:51am
Quoting Greenhaze
You might say that He is playing against the 1.600 BRN, selling into the support / last lows but for momentum traders that might be good position. There is no "one fit all" answer here. GBP is sold heavily not without the reason but i wont go into details here Cheers!
Thanks Greenhaze. You can shine my shoes anytime, or perhaps I should be shining yours?

I suppose a profit is a profit. This set up didn't "fit" for me, so I said something. Perhaps, I am bloody impatient.

Apologies for taking up space on this thread.

KR
  • #97,149
  • Jun 23, 2011 4:00am Jun 23, 2011 4:00am
hi guys!

break tl + pullback + ib on d1
and beob that confirm the break of the ib on h4

i'm waiting for a close below the blue rectangle on h4.
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  • #97,150
  • Jun 23, 2011 4:27am Jun 23, 2011 4:27am
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  • #97,151
  • Jun 23, 2011 5:08am Jun 23, 2011 5:08am
Quoting Greenhaze
I am not a senior here but i noticed that tight stop. Is it entry stop or did You trail it.
With this tight stop on entry You know you cant lose that trade . 1.6000 BRN is near and 1.5980 mucho strong support is just below. Good luck!
its a tight stop, always do.
Why i entered is because off the BEOB of course, the shape of it and the location where it left (weekly, daily pivot), we were beyond the monthly S1 @ 1.6032, at 50 fib level and a RN; there is also the brake of the LTL, i know there are trouble areas nearby. For the moment i am +47 and thinking about closing it at 50.

I am just learning here so al critics are welcome
  • #97,152
  • Jun 23, 2011 5:34am Jun 23, 2011 5:34am
Quoting huskyboy
its a tight stop, always do.
Why i entered is because off the BEOB of course, the shape of it and the location where it left (weekly, daily pivot), we were beyond the monthly S1 @ 1.6032, at 50 fib level and a RN; there is also the brake of the LTL, i know there are trouble areas nearby. For the moment i am +47 and thinking about closing it at 50.

I am just learning here so al critics are welcome
...apologies Huskyboy, this was a good set up, although I was concentrating on the very significant support underneath.

I just wanted to know if this type of trade would have been taken by Jim or one of the other very experienced traders on this thread with this in mind? It's always good to get the rationale behind a trade, don't you think?

You made it profitable, so well done to you.

KR
  • #97,153
  • Jun 23, 2011 5:40am Jun 23, 2011 5:40am
Quoting jc.
hi guys!

break tl + pullback + ib on d1
and beob that confirm the break of the ib on h4

i'm waiting for a close below the blue rectangle on h4.
It's looking like your theory is being answered.

KR
  • #97,154
  • Jun 23, 2011 5:48am Jun 23, 2011 5:48am
Quoting jc.
hi guys!

break tl + pullback + ib on d1
and beob that confirm the break of the ib on h4

i'm waiting for a close below the blue rectangle on h4.
http://www.forexfactory.com/showthre...06#post4698606
  • #97,155
  • Jun 23, 2011 6:19am Jun 23, 2011 6:19am
Quoting Knight Rider
...apologies Huskyboy, this was a good set up, although I was concentrating on the very significant support underneath.

I just wanted to know if this type of trade would have been taken by Jim or one of the other very experienced traders on this thread with this in mind? It's always good to get the rationale behind a trade, don't you think?

You made it profitable, so well done to you.

KR

please, no need to, i am just here to learn and "perhaps' share. I also wanted the seniors to give their opinion.

PS at the time i entered there was a BEOB on the m15 as well, just noticed that. Something to remenber perhaps.
  • #97,156
  • Jun 23, 2011 6:27am Jun 23, 2011 6:27am
Quoting huskyboy
please, no need to, i am just here to learn and "perhaps' share. I also wanted the seniors to give their opinion.

PS at the time i entered there was a BEOB on the m15 as well, just noticed that. Something to remenber perhaps.
...the trades that Mike and Jim posted were indeed excellent trades.

I need to tighten up my game.

KR
  • #97,157
  • Jun 23, 2011 6:40am Jun 23, 2011 6:40am
Quoting Matski
Hey thats pretty good Slade. I love trading the EURUSD as it trends really well.

I was actually in a buy move as I thought that it was going to break the resistance line at around 1.44250 but it turned and ran my stop down. So instead I short entered on the diagonal trend resistance which just hapend to be right on another major S/R level 1.43400 which is proving to offer resistance the the trend and is proving my move correct for now a break even.

I think this will continue to the 1.40600 level eventually in the next 5/6 trading days. It may...
went in before the press conference at .442, unloaded 1st part at .4225, planning to unload the other part at .41(I agree that it'll probably get to .405, but don't want to sweat for the last pips(I've also shorted eur alot during greek parliament vote, so trying to cover some to reduce exposure).

Quoting eswap0
Expecting a retest of 1.02 area.
fully agree; went in on the retrace to .033 though I don't have an exact clue where it'll stop. .02x but don't know exactly which x so probably I'll hop off early...
  • #97,158
  • Jun 23, 2011 6:40am Jun 23, 2011 6:40am
I have a question:

How many of you guys play off of the one hour with beob's.

GBP/JPY? - this one seems to fit the bill quite nicely, doesn't it?
EUR/JPY?

...or do you just stick with 4h and daily's?

KR
  • #97,159
  • Jun 23, 2011 6:49am Jun 23, 2011 6:49am
Quoting Knight Rider
I have a question:

How many of you guys play off of the one hour with beob's.

GBP/JPY? - this one seems to fit the bill quite nicely, doesn't it?
EUR/JPY?

...or do you just stick with 4h and daily's?

KR
trying not to look to often to the lower tfs, used to trade of the m15 ichi, this is al new to me but this week the H4 treated me wel, today GU and EUR short.

Might get interesting,
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  • #97,160
  • Jun 23, 2011 6:56am Jun 23, 2011 6:56am
Quoting huskyboy
trying not to look to often to the lower tfs, used to trade of the m15 ichi, this is al new to me but this week the H4 treated me wel, today GU and EUR short.

Might get interesting,
AUD/USD - short.
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