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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

  • #110,781
  • Apr 26, 2012 8:34am Apr 26, 2012 8:34am
Quoting Magestic
Read this post by Greenhaze.
http://www.forexfactory.com/showthre...ws#post5577140
Thanks!
"Greed is good,greed is right,greed works"
  • #110,782
  • Apr 26, 2012 8:40am Apr 26, 2012 8:40am
Quoting Gekko78
So are you saying that when US equity markets are up , dollar "should" rise as well??
In most cases no. When news is good for the US it means investors will invest which usually means the Euro moves up. Initially when news comes out that is good for the US the Dollar might advance for a bit but then the Euro takes over. All of this is conditioned by the significance of the news however.
  • #110,783
  • Apr 26, 2012 8:41am Apr 26, 2012 8:41am
Quoting pdean123
You can pretty much count on the EURUSD, for example, to follow the equity markets based on perceived value in the market or perceived risk, at least enough to trade it successfully. This is really what trading is all about in many ways, the ability to know which sentiment is most powerful at the time you are looking to trade.
I guess sometimes I just get a little confused.......Probably old thinking from stock trading back in the day .....Like when good earnings reports come out Stock "USUALLY" moves higher and vice versa for bad earnings.......To me I guess I look at the US numbers as earnings in a sense and just expected the $ to react the same way a stock would....theoretically , at least to me, it makes sense but I have learned that the market does not care what I "think" should happen which is why I do not trade on news and strictly TA.

I got a trading signal this morning for The EUR/USD , NZD/USD and USD/CAD all pointing to rise in dollar before news came out ......I hesitated on taking those positions due to the US data coming out. I took the trades but used a higher than normal SL because of that and lowered my lot size.

Still in 2 of them right now , TP on NZD/USD for a few pips .......When I saw the news come out I was like " Sweet , this confirms it" Yet , it went opposite of what it normally would do ........I have seen this many times over the past year and thought I would throw it out here and see what others had to say.... thanks for all your feedback!!!

Will let you know how the trades turn out
"Greed is good,greed is right,greed works"
  • #110,784
  • Apr 26, 2012 9:13am Apr 26, 2012 9:13am
So far it looks like things are going back towards my original opinion
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"Greed is good,greed is right,greed works"
  • #110,785
  • Apr 26, 2012 10:46am Apr 26, 2012 10:46am
Quoting jarroo
That looks about right . . . on the Monthly UsdCad . .

Jim

Quoting jarroo
I understand the base method but I like to use it when its confluenced with S/R levels. . .maybe that's what your saying??

All I'm saying is that this a great Monthly level for not only being at parity (1.0000) but also in the structural aspects of Support and Resistance . .in this case, HCR/LCS levels. .

Price doesn't like to hang around here for very long .. as you can see historically ..

Jim
I understand those that say, .."its easy to show after the fact . "

This was shown before the fact many times. .obvious you're not following the Thead or too lazy to research some past posts ..or another agenda ..who knows.

So please do your research before you PM me with silly commments . . Thank you ..

There are other posts where I talk about the Monthly Cad in Feb and March. .can you find them?

Sorry for this Thread interruption.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #110,786
  • Apr 26, 2012 10:53am Apr 26, 2012 10:53am
Anyone here use my fxbook?
"Greed is good,greed is right,greed works"
  • #110,787
  • Edited 11:08am Apr 26, 2012 10:56am | Edited 11:08am
Quoting Quezoy
Jarroo, a question.

I definitely will take or look at that HCR level if or when Price gets there, Quezoy . .

I just didn't mark it on my chart. I try to clean up my charts a bit before I post them.

Here's some other charts on the NzdUsd . .
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Indicators show the past. Price Action "Indicates" the future.
  • #110,788
  • Apr 26, 2012 11:03am Apr 26, 2012 11:03am
Quoting gadogado
Got it sir... thank's for the explanation...

It's a nice bullish PB...
Keep at it, brother . .


We may get another Daily Close Confirmation Above the HCR level on the UsdJpy . .we'll have to see where the Daily closes today.

Interesting where Price Bammed!! . .to the pip!! . today . . .right at a LCS level . .what a shocker . .lol
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Indicators show the past. Price Action "Indicates" the future.
  • #110,789
  • Apr 26, 2012 11:21am Apr 26, 2012 11:21am
Quoting Gekko78
Anyone here use my fxbook?
yeah i just registered for that yesterday.... i like it veh much
  • #110,790
  • Apr 26, 2012 11:22am Apr 26, 2012 11:22am
Quoting Gekko78
Anyone here use my fxbook?
well, I've been advised to use it as a nice-looking trading journal.
but being a total brand newbie, I won't be able to say anything more interesting...
Slow & steady
  • #110,791
  • Apr 26, 2012 11:44am Apr 26, 2012 11:44am
Quoting bullzeye
Gold nice rejection of the demand zone...forming another pin bar, i think it will gonna break the TL

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nice move on GOLD

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  • #110,792
  • Apr 26, 2012 12:58pm Apr 26, 2012 12:58pm
Quoting bullzeye
nice move on GOLD

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same as the gold one more or less....
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  • #110,793
  • Apr 26, 2012 1:14pm Apr 26, 2012 1:14pm
Hey guys. I'm not exactly see any good setups, but the only one I'm looking at is NZDCAD and was just want some comments. Looking to buy around the 80 mark, if my bar closes above the previous bar. Good confluence with the upwards trendline and a fib. Oh,the round number too.
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  • #110,794
  • Apr 26, 2012 1:15pm Apr 26, 2012 1:15pm
Sorry, that chart was a bit small
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  • #110,795
  • Apr 26, 2012 1:24pm Apr 26, 2012 1:24pm
Quoting beebolbod


same as the gold one more or less....
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awesome bro

i`ve missed the "small brother of gold" , although the setup was even better

like it

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  • #110,796
  • Apr 26, 2012 1:30pm Apr 26, 2012 1:30pm
Quoting riandouma
Hey guys. I'm not exactly see any good setups, but the only one I'm looking at is NZDCAD and was just want some comments. Looking to buy around the 80 mark, if my bar closes above the previous bar. Good confluence with the upwards trendline and a fib. Oh,the round number too.
a nice area to buy but only if you see a good BUEOB
  • #110,797
  • Edited 1:53pm Apr 26, 2012 1:42pm | Edited 1:53pm
well i am here to learn, and the best and quickest way is to learn from my mistakes :

took this one because i was playing the outbreak and the beautiful "cup and handle" pattern, but without confirmation ...after my entry the pair formed something like a pinbar and reversed . Will i get punished for being inpatient? (mhhh, of course i will, but how would you handle that from now?)

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  • #110,798
  • Apr 26, 2012 2:00pm Apr 26, 2012 2:00pm
Quoting jarroo
Hey HC . . good eye and nice chart .. my feed is a bit different but not by much.

Excellent . .well done . .you got the levels down. .nice Daily confirmation. . .great target, HCR . . its great that you took profit there. You could have taken 100% profit there because if PBT&CA this HCR level we can always re-enter . .

My feed didn't have a Daily confirmation . .my HCR was 80.90 /80.83 . .damn gaps .

If you look zoom out a bit, you can see that we had LCS level (06/07 April). .this lines up nicely with the 80.90 HCR . .Strength....
Cheers Jim

I am loving picking these levels and am now trying to put together 3 pieces of confluence to go with them.
It makes sense now to take full profit at these FTA levels now that you mention about re-entering on the PBTCA as I gave back 50 pips when it came back to break even which is silly.
I am learning slowly but thanks for your clear explainations
Hair
  • #110,799
  • Apr 26, 2012 2:04pm Apr 26, 2012 2:04pm
Weekly level, divergence and morning star pattern

1st TP at 1.30-ish.
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Thoughts are things
  • #110,800
  • Apr 26, 2012 2:06pm Apr 26, 2012 2:06pm
interesting moves on EURUSD and USDCHF just 3 min before Daily close both closed as small pins. USDCAD formed small bullish pin just at box bottom also. something gonna happen?
all is eternal - this is good news for people who loves bad news
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