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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

  • #100,021
  • Aug 5, 2011 7:10am Aug 5, 2011 7:10am
Quoting supremeChaos
wow, interesting, are u the Unabomber?

no wonder, u have an affinity for trading.
No Unabomber here
  • #100,022
  • Aug 5, 2011 7:17am Aug 5, 2011 7:17am
Quoting bali2002
Hi,
Does it seem logical to expect (and trade) a bullish PB on this area?

Cons?

Thanks!!

http://clip2net.com/clip/m90097/thum...-clip-25kb.png
Bali, yes these are the areas we would look for PA to give an indication of future price direction. Of course we never know what will develop, but you have identified the location to look for, and that is more important than the actual bar.
  • #100,023
  • Aug 5, 2011 7:21am Aug 5, 2011 7:21am
my colleague: "Are you earning money now when everything goes down?"
I: "Not exactly, it's not so simple."
He: "LOL, just sell all you trade. It's clear it will fall again."
I. "Hmmm, the moves are not as straight as you think."
He: "Don't tell me that. You just don't know how to do it. It's simple."

I was on half way to throw a chair on him.
Fortunately he was kidding

BTW, AU reached important area and doesn't know where to go.
Curious if NFP will affect it and how. Little sweeping around 1.500 could come.

EDIT: Just post above on same subject, sorry for doubling

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Follow my trading on Twitter and FB: @pumlitch
  • #100,024
  • Edited 8:23am Aug 5, 2011 7:23am | Edited 8:23am
Quoting AQs
No Unabomber here
Phil Hel...
Daniel N...
Scotty Ngu...
Jamie G...
Gus Ha...
John Juan...
???
there are lots, i dont know them all
maybe u can reveal via PM.

regardless, it's great to have u here

Quoting Tjd
...
My concerns in trading currencies on a longer time frame are a) the potential problem overnight (does having a stop overnight work OK in the thinner Asian markets or do we get screwed?) b) the even greater problem when the markets close over the weekend.
...
hello Trevor,
welcome.

assuming u trade a good setup & your stop is in the right place, u have nothing to worry about.
in a good setup, usually your target gets hit prior your stop.
  • #100,025
  • Aug 5, 2011 8:29am Aug 5, 2011 8:29am
Quoting supremeChaos
Phil Hel...
Daniel N...
Scotty Ngu...
Jamie G...
Gus Ha...
John Juan...
???
there are lots, i dont know them all
maybe u can reveal via PM.

regardless, it's great to have u here


hello Trevor,
welcome.

assuming u trade a good setup & your stop is in the right place, u have nothing to worry about.
in a good setup, usually your target gets hit prior your stop.
I specified ONLINE player... so I'm not famous as who you mentioned
  • #100,026
  • Aug 5, 2011 8:35am Aug 5, 2011 8:35am
Quoting AQs
I specified ONLINE player... so I'm not famous as who you mentioned
i believe some of them play online too.

cheers

happy weekend all!
  • #100,027
  • Aug 5, 2011 8:41am Aug 5, 2011 8:41am
Quoting supremeChaos
i believe some of them play online too.

cheers
yeah, and they are considered fishes

ltr my friend
  • #100,028
  • Aug 5, 2011 9:33am Aug 5, 2011 9:33am
Quoting bali2002
Hi,
Does it seem logical to expect (and trade) a bullish PB on this area?

Cons?

Thanks!!

hey Bali

Yep it's a good area to watch but be open to both down and up in this case. Were coming off some serious bearish movement. A lot of people were posting small pinbars on the daily/4hr against these huge moves and it's dangerous. So just make sure there is something substantial but also be open to both up and down

Have a great weekend
Mike
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  • #100,029
  • Aug 5, 2011 9:35am Aug 5, 2011 9:35am
Quoting Tjd
Hi all,

I am brand new here and hope you can help.

I have searched the site and, probably because I am new to Forex, I was unable to find the answer to my question.

I used to trade stocks and one of the concerns was the risk of either a) an early morning stop out based on a huge bid/offer spread and someone just giving a broker an instruction to trade at market, at my size, making the trade valid for a stop b) gaps

For this reason, I had decided that I might try trading intraday. However, a quick read of this thread has certainly...

Hey Tjd,

The answers to your questions are going to primarily be broker related (as in market maker or ECN). I think you will find this post from darkstar very informative

http://www.forexfactory.com/showthread.php?t=7484

Best of luck

Jacob
  • #100,030
  • Aug 5, 2011 9:40am Aug 5, 2011 9:40am
So, as I see it, not an A+ Trade?
Better move on...

Quoting mbqb11
hey Bali

Yep it's a good area to watch but be open to both down and up in this case. Were coming off some serious bearish movement. A lot of people were posting small pinbars on the daily/4hr against these huge moves and it's dangerous. So just make sure there is something substantial but also be open to both up and down

Have a great weekend
Mike
  • #100,031
  • Aug 5, 2011 9:42am Aug 5, 2011 9:42am
Quoting bali2002
So, as I see it, not an A+ Trade?
Better move on...
Hey B

There is no trade here yet, we would just be sitting and watching this area. It's a great area to watch as you pointed out

Best
Mike
  • #100,032
  • Aug 5, 2011 10:08am Aug 5, 2011 10:08am
Hi have a good WE everyone. Just wondered if anyone had any views on EURGBP below. double bottom on PPZ, confluence of EMA 365 and stoch hidden divergence?
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  • #100,033
  • Edited 1:25pm Aug 5, 2011 1:11pm | Edited 1:25pm
Happy Weekend guys..hope u njoy party n beer some!

one of my favourite songs from Bollywood..hope u guys njoy the music

http://www.youtube.com/watch?v=0gT1dFH1tKU

P.S :can any1 tell me hw to copy-paste video(not the link..the whole video)..i copy-pasted URL link in the "insert link" option tag we have..
but still it shows the link n not the video..wierd
  • #100,034
  • Aug 5, 2011 1:15pm Aug 5, 2011 1:15pm
Quoting AvanishDemo
Happy Weekend guys..hope u njoy party n beer some!

one of my favourite songs from Bollywood..hope u guys njoy the music

http://www.youtube.com/watch?v=0gT1dFH1tKU

P.S :can any1 tell me hw to copy-paste video(not the link..the whole video)..i copy-pasted URL link in the "insert link" option tag we have..
but still it shows the link n not the video..wierd
i do.
but i prefer the "classic" stuff. like this:

Inserted Video
meine augen sind die sterne
  • #100,035
  • Aug 5, 2011 1:19pm Aug 5, 2011 1:19pm
two Stock trades for this week, first double top, PIN, off BRN, FTA's can be seen to the left (highs of bars)


second not so big BEOB but at BE now, this one doesn't look like much will come of it, its a very healthy stock apparently guess many people eat Mexican.
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  • #100,036
  • Aug 5, 2011 1:54pm Aug 5, 2011 1:54pm
Quoting Patrick.
two Stock trades for this week, first double top, PIN, off BRN, FTA's can be seen to the left (highs of bars)


second not so big BEOB but at BE now, this one doesn't look like much will come of it, its a very healthy stock apparently guess many people eat Mexican.
That APOL is sweet man
  • #100,037
  • Aug 5, 2011 2:38pm Aug 5, 2011 2:38pm
opened a small short position that off the retest of the 150EMA/1.05 break. i'm keeping the stop-loss tight here. this week will most likely end with a BEOB. I will add the remaining position at the break of it.

If my stop gets taken out, that means price will most likely retrace upward...in which I will look to go short around the 50-61.8% fib ret of the weekly BEOB which will confluence with the rising TL that it has broken out of.
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  • #100,038
  • Aug 5, 2011 3:12pm Aug 5, 2011 3:12pm
Quoting AvanishDemo
one of my favourite songs from Bollywood..hope u guys njoy the music
P.S :can any1 tell me hw to copy-paste video(not the link..the whole video)..i copy-pasted URL link in the "insert link" option tag we have.
yes, sometimes that happens.

try adding "&feature=player_embedded" at the end of the link
like so:
youtube.com/watch?v=0gT1dFH1tKU&feature=player_embedded
  • #100,039
  • Aug 5, 2011 3:17pm Aug 5, 2011 3:17pm
Quoting Kalbar
Hi Guys

First post for a while due to holidayswork commitments etc. Have completed month 2 of J16 Basics and ahead of the game:

4 winners; 1 BE; 1 Loser - a 10% gain on my (very small!) account.

Just wondering if people are staying out of the market at the moment as it is so volatile with all the sovereign debt problems and intervention etc? Is this a bad time to be trading for us small guys?

Kal
Hey there Kal. While I did not take a trade last week it was mainly because I did not see anything that was really A+. I don't make it a point to stay out when the volatility jumps up, but I do work to ONLY take A++ trades. I really want to see one hell of a story and if it is not there then I will pass quickly.

Ryan
  • #100,040
  • Aug 5, 2011 3:34pm Aug 5, 2011 3:34pm
I wanted to toss this one up in AcerbFX's new thread, but I guess that this would be relevant here. I also don't have a high enough vouch level yet to be able to post in it. Was looking at this one today and have been thinking about getting into it. Was just too busy today to keep a close eye on the market to make sure things weren't going to be nuts like yesterday. Figured that with the craziness that it would make it to the strong PPZ at 7.50 and it made it down to 7.52. Will probably look at this stock on Monday.

Quick question AcerBFX- How do you treat these stocks when earnings are being released soon? They will be releasing earnings on Monday and you just never know how it will go when things are as nuts as they are now. I am thinking about buying on Monday and just placing a stop loss on it proably just below that first bar high to the left at about 6.90.

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