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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

  • #98,861
  • Jul 19, 2011 3:59am Jul 19, 2011 3:59am
well folks imho after the long bullish run of silver and gold were gonna see some retrace pretty soon i think, so we can expect a bullish doller soon enough. be aware if your trading the other side to be quick to protect yourselves...

happy hunting


jon
PATIENCE... DISCIPLINE
  • #98,862
  • Jul 19, 2011 4:07am Jul 19, 2011 4:07am
Quoting AvanishDemo
hey jon i assume u were talkin abt break of IB..n not the yesterdays bar
yes IB did break..
IBs bar low:127.15
entered at :126.95
20 pip buffer..
heres a chart
ups sorry dude, my appollogies. i thought other wise from your other chart. will learn to look properly next time
i dont think it was a bad trade either but i think you under estimated the strengh of that 1.2760-80 level...??

jon
PATIENCE... DISCIPLINE
  • #98,863
  • Jul 19, 2011 4:27am Jul 19, 2011 4:27am
Quoting mstory
decentchap - I had noted all of the same reasons for entry before reading your post. It is encourging to see someone else was thinking the same.

mstory (long time J16 member - very seldom poster)
Great mstory, lets see how it pans out. I shall tinker (if required) with the trade after tonight's close.
Trading is a test match not a Twenty20.
  • #98,864
  • Jul 19, 2011 4:34am Jul 19, 2011 4:34am
Quoting g_j_hook@yah
well folks imho after the long bullish run of silver and gold were gonna see some retrace pretty soon i think, so we can expect a bullish doller soon enough. be aware if your trading the other side to be quick to protect yourselves...

happy hunting



jon
I don't agree with this.

Gold is the one thing which has been going up against every currency as fiat paper becomes worthless and negative real interest rates prevail. They have no answers to the european crisis or the dollar crisis accept to print more money and increase the debt (at the expense of the taxpayers).

There are very bearish signals around the world's stock markets if you look at the 200 day moving average (weekly). There will be a major crash when "they" decide the timing is right.

People should look at price in terms of gold not the nominal value of a particular stock market or currency which has been inflated by a devalued currency.

Unfortunately, most people are blind to this fact
  • #98,865
  • Edited 4:49am Jul 19, 2011 4:38am | Edited 4:49am
Quoting g_j_hook@yah
ups sorry dude, my appollogies. i thought other wise from your other chart. will learn to look properly next time
i dont think it was a bad trade either but i think you under estimated the strengh of that 1.2760-80 level...??

jon
let see how todays turns out..
levels are marked as u mentioned(1.2760-80)
Trading is subjective..views vary from person to person..
but dats ok i got out with a quick loss n not full bar loss
dat BUOB on H4 was js not palatable to stomach to hold the trade..
so i thought getting out wuld be an option..
but on the contrary we hav 127 as well..
where the heck will price go?GOD knws!!!
so instead of relying on hopes n prayers i got out..n dats ok
it js wasnt worth the stress to hold on this trade for me..
js my views jon
also might be good possibility that it wasnt the best of IB/I4B as i have already mentioned
(not to confuse others,im talkin abt daily IB setup)

EDIT:
Also,good possibility that i did a mistake of getting out of the trade before waiting today's bar close
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  • #98,866
  • Jul 19, 2011 4:58am Jul 19, 2011 4:58am
Hi guys

Just back from great holiday touring the west coast highlands and islands of Scotland.........truly wonderful stuff and blessed with blue skies and sunshine too!!

Just dropping in to say hello and return to the fold! Did no trading whilst I was away so just trying to get up to speed! Anyone looking at the good sized pin that formed on the EuGB daily?

Kal
  • #98,867
  • Jul 19, 2011 5:06am Jul 19, 2011 5:06am
Quoting AvanishDemo
let see how todays turns out..
levels are marked as u mentioned(1.2760-80)
Trading is subjective..views vary from person to person..
but dats ok i got out with a quick loss n not full bar loss
dat BUOB on H4 was js not palatable to stomach to hold the trade..
so i thought getting out wuld be an option..
but on the contrary we hav 127 as well..
where the heck will price go?GOD knws!!!
so instead of relying on hopes n prayers i got out..n dats ok
it js wasnt worth the stress to hold on this trade for me..
js my views jon
also might...
Hey Avanish,

I see the logic behind your anticipation of resistance around 128.00.

The problem i would see with the setup are those lows marked on my chart. Each one of them occurred off some kind of a massive 'zone' and each one of them was good enough for a considerable sharp bounce.

I would be extremely weary shorting into such a massive support zone.

Then again as Mike puts it you want your shorts lining up near swing highs rather than swing lows.

g.
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I believe . . .
  • #98,868
  • Jul 19, 2011 5:57am Jul 19, 2011 5:57am
Quoting supremeChaos
at first, i thought it was the Chinese character 'chong' (as in 'Chong Kwo' or China)... but then i realized what u drew was a pinbar.

i think so, yes.
also primarily watch 0.8800 on the way up, in case...

Yeah, funny, after I drew that PB , I was thinking it was like the character

Hey, Pinbar, living in PB (中) Country (国)!

Ain't that appropriate SC

Must be all the Chinese study.

Wo Zhongoa Iue Buchidaou

getting the beer ordering bit down first.

Rian Pijo Mei Yo MA?
Bu Rian Buyora.

Hardly Pinyin phonetics, I hate pinyin.
  • #98,869
  • Jul 19, 2011 6:30am Jul 19, 2011 6:30am
Hi all whats good allround forex alert service..
I know fxalert.com but that doesnt seem to do lot of currencies i look at. I am at work during the day, so some alert service about specific price point would be helpful in managing the trade.
Trading is a test match not a Twenty20.
  • #98,870
  • Jul 19, 2011 7:40am Jul 19, 2011 7:40am
Quoting decentchap
Hi all whats good allround forex alert service..
...
MT4 has built in alerts (if ever u use MT4).
[im not familiar with its use, though; check the MT4 online Help Guide]
it's likely other platforms do too.
  • #98,871
  • Jul 19, 2011 7:49am Jul 19, 2011 7:49am
Did anyone take the PB on eurusd on last daily close.

I took it entered at 1.41184 and took half profits off the table at what i see as FTA from previous bar highs at 1.4190

SL moved to BE with current half position up 67 pips.

Thanks everyone
  • #98,872
  • Jul 19, 2011 7:56am Jul 19, 2011 7:56am
Quoting supremeChaos
MT4 has built in alerts (if ever u use MT4).
[im not familiar with its use, though; check the MT4 online Help Guide]
it's likely other platforms do too.
thanks i managed to set up an email once with mt4 help of indicator and some software so may thats the way to go..I am looking for email/text alerts so perhaps fxalert in most cases and where it doesnt i can use indi for MT4.
Trading is a test match not a Twenty20.
  • #98,873
  • Jul 19, 2011 8:04am Jul 19, 2011 8:04am
Quoting decentchap
thanks i managed to set up an email once with mt4 help of indicator and some software so may thats the way to go..I am looking for email/text alerts so perhaps fxalert in most cases and where it doesnt i can use indi for MT4.
thats right!!
Completely agree with ur signature!!
  • #98,874
  • Jul 19, 2011 8:07am Jul 19, 2011 8:07am
Quoting deankenny21
Did anyone take the PB on eurusd on last daily close.

I took it entered at 1.41184 and took half profits off the table at what i see as FTA from previous bar highs at 1.4190

SL moved to BE with current half position up 67 pips.

Thanks everyone
I passed as the bar formation on fxpro close didn’t look like a pb as the open-close were too close together and didn’t fit MY criteria - location sure was good for me.
Well done on securing profits...
Trading is a test match not a Twenty20.
  • #98,875
  • Jul 19, 2011 8:16am Jul 19, 2011 8:16am
Quoting AvanishDemo
thats right!!
Completely agree with ur signature!!
lol thanks - I have been trying to relate cricket with trading to make trading and thinking behind it simple for me.
e.g
Leave the good deliveries
wait-wait-wait for bad deliveries there is always one coming..
no slogging - cant hit every ball for boundry - accumulate runs via single/double.
you can only score runs if you are in the middle i.e dont loose your shirt..
i can think of many more but you get the picture..
Trading is a test match not a Twenty20.
  • #98,876
  • Jul 19, 2011 8:27am Jul 19, 2011 8:27am
Quoting decentchap
I passed as the bar formation on fxpro close didn’t look like a pb as the open-close were too close together and didn’t fit MY criteria - location sure was good for me.
Well done on securing profits...
ah ok i see, but i thought the open and close were important to be close to make it look like "eyes" from what ive read in J16 teachings
  • #98,877
  • Jul 19, 2011 8:32am Jul 19, 2011 8:32am
Quoting deankenny21
ah ok i see, but i thought the open and close were important to be close to make it look like "eyes" from what ive read in J16 teachings
Thats exactly what i thought,

But yeah I took this exactly the same time almost, did the same took half position profit at 30 pips and still in there with break even on rest of pos.
  • #98,878
  • Jul 19, 2011 8:33am Jul 19, 2011 8:33am
Quoting Strick
Thats exactly what i thought,

But yeah I took this exactly the same time almost, did the same took half position profit at 30 pips and still in there with break even on rest of pos.
Nice one. Im doing good on the daily charts, i moved to 4hr and took some losses so now only sticking to daily for the time being.

meanwhile a close above 1.42 on the 1 hour, should be nice for our trades now
  • #98,879
  • Jul 19, 2011 8:46am Jul 19, 2011 8:46am
Quoting Chelski
I assume you mean as a FTA the bar highs that failed?
hey C

Yes those 3 bar highs where my blue box is, would be the FTA, but also the 8800 is a FTA since price couldn't close over it. HEre is what I was trying to point out yesterday


Hope it helps
Mike
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  • #98,880
  • Jul 19, 2011 8:48am Jul 19, 2011 8:48am
Quoting ghous
Hey Avanish,

I see the logic behind your anticipation of resistance around 128.00.

The problem i would see with the setup are those lows marked on my chart. Each one of them occurred off some kind of a massive 'zone' and each one of them was good enough for a considerable sharp bounce.

I would be extremely weary shorting into such a massive support zone.

Then again as Mike puts it you want your shorts lining up near swing highs rather than swing lows.

g.
hey G!!! YOUR ALIVE!!!!

Good to see u posting mr lurker!!! lol


jon
PATIENCE... DISCIPLINE
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