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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

  • #120,621
  • Nov 9, 2012 6:49am Nov 9, 2012 6:49am
Quoting Bones
Hi Rust what your feeling usd cad im thinking looks very bullish
I don't have the balls to buy it right now for sure. A retrace looks safer to me, something like this:
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  • #120,622
  • Nov 9, 2012 6:56am Nov 9, 2012 6:56am
Quoting Rust
I don't think it's THAT close. Here is my plan:
You expect this FTA to bounce price. Very good. If life has given you a lemon, make a lemonade they say Trade has given you an FTA -> use it!
It's a good story, if you find your decent entry -> short it!
1 - let's say price has reached the FTA. What do we expect? A bounce right?! I should not sit and wait.... take full profit! It's a nice profit !
2 - price bounces- right as we expected. You still believe it's a good story ?
No -> enjoy your profit
Yes -> hammer it down again at a better...

Nice post Rust, we all can feel your enthusiasm! (which made my day BTW - today was a bad day till I came and read your post )

take care
Slow & steady
  • #120,623
  • Nov 9, 2012 7:08am Nov 9, 2012 7:08am
exactly rust I think we will close up there maybe down to test 1 next week ,but its going much higher


Quoting Rust
I don't have the balls to buy it right now for sure. A retrace looks safer to me, something like this:
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,624
  • Nov 9, 2012 7:15am Nov 9, 2012 7:15am
Aud jpy update

Quoting Bones
What I mean here is im reading price ,im looking at what it is doing to judge bullish or bearish ,you can have moves for just a test its very important ,if that happens you can feel safer
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  • #120,625
  • Nov 9, 2012 7:28am Nov 9, 2012 7:28am
Quoting patapouer
Nice post Rust, we all can feel your enthusiasm! (which made my day BTW - today was a bad day till I came and read your post )

take care
Happy to hear that
Not the best day for me, too btw. A lot of action in the markets these days. I missed the greatest opportunity i was watching, the AUDJPY. A little on the possitive side so far, but still not sure if the day won't end as a loosing one. A LOT of action these days It's like a storm after a long calmness.
  • #120,626
  • Nov 9, 2012 7:29am Nov 9, 2012 7:29am
This is an easy chart ,low tfs have been hard work


Quoting Bones
usdx is bullish imo ,like break this week ,target next but hey im not fussy
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  • #120,627
  • Nov 9, 2012 8:03am Nov 9, 2012 8:03am
Quoting Bones
This is an easy chart ,low tfs have been hard work
Hi Bones
Which platform/s can one use to trade the euro or dollar index?
thanks
  • #120,628
  • Nov 9, 2012 8:11am Nov 9, 2012 8:11am
Quoting MUNkeyRO
Happy Birthday James16!

Glad you have some heat now Mike, hope the cleanup operation is going well!

I've got a couple of charts on a possible breakout trade on EURCAD Daily, I'm currently waiting for a bearish PA signal on the H4...

Any/all comments are welcome... Thanks,

Munk.
Hey Munk

It certainly makes sense. What I like about the eur/jpy is that the squeeze was already formed when we had all those BEOBs form across the board on all these pairs. So now that trade is well under way while some of these other pairs like nzd/jpy gbp/jpy are now hitting there squeeze points. But yes again we can watch them here for bearish PA or how price reacts

Best
Mike
  • #120,629
  • Nov 9, 2012 8:11am Nov 9, 2012 8:11am
Quoting Mav13
Happy Birthday James and thanks for this thread and PF.

Also I hope that all will be fine in New York, Mike hang in there buddy.

Mav
Many still without power, parents no heat or power. It's a mess out here. Governor calling for the heads of the power companies. Gas rationing still happening. Wild wild storm

Mike
  • #120,630
  • Nov 9, 2012 8:23am Nov 9, 2012 8:23am
Quoting Bones
this is very bearish
Nice call Bones. Although now looking the other way for a bounce... Shame it's a Friday afternoon since I'm probably going to have to cut some of this early.
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  • #120,631
  • Nov 9, 2012 8:35am Nov 9, 2012 8:35am
Thanks Rust! Your input is very much appreciated!

Cheers Mike!.. I'm still studying your teachings (think I'm about half way through your thread posts) still got a long way to go yet!... Cant believe the devastation caused by Sandy!!?! Gutting! All our thoughts and prayers are with you from here in the UK!
  • #120,632
  • Nov 9, 2012 8:37am Nov 9, 2012 8:37am
Quoting MUNkeyRO
Thanks Rust! Your input is very much appreciated!

Cheers Mike!.. I'm still studying your teachings (think I'm about half way through your thread posts) still got a long way to go yet!... Cant believe the devastation caused by Sandy!!?! Gutting! All our thoughts and prayers are with you from here in the UK!
thanks my friend
  • #120,633
  • Nov 9, 2012 9:05am Nov 9, 2012 9:05am
Happy birthday James!
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all is eternal - this is good news for people who loves bad news
  • #120,634
  • Nov 9, 2012 9:24am Nov 9, 2012 9:24am
cool c-12 ,thinking thats a retrace only as au good sell


Quoting C-12
Nice call Bones. Although now looking the other way for a bounce... Shame it's a Friday afternoon since I'm probably going to have to cut some of this early.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,635
  • Nov 9, 2012 9:27am Nov 9, 2012 9:27am
Quoting Bones
cool c-12 ,thinking thats a retrace only as au good sell
I agree. These were just intraday postions left to run really. Scaled it back now, can't see these gapping down this far over the weekend. We'll see.

AUDJPY was another great call. Looking for an entry next week to get on board that short.
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  • #120,636
  • Nov 9, 2012 9:28am Nov 9, 2012 9:28am
usd cad h6 ,does it make sense ? 2.30 min to close of that candle
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  • #120,637
  • Nov 9, 2012 9:30am Nov 9, 2012 9:30am
Quoting Bones
usd cad h6 ,does it make sense ? 2.30 min to close of that candle
Well it came off bearish earlier. I think there's a better daily short higher up than this. Maybe see if this last position runs a but.
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  • #120,638
  • Nov 9, 2012 9:35am Nov 9, 2012 9:35am
forex ltd ,usdx has made a break ,im going to be very disapoined to see it fail


Quoting moneyrunner
Hi Bones
Which platform/s can one use to trade the euro or dollar index?
thanks
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,639
  • Nov 9, 2012 9:36am Nov 9, 2012 9:36am
its sitting on 1 and a whole load of recent price support C-12


Quoting C-12
Well it came off bearish earlier. I think there's a better daily short higher up than this. Maybe see if this last position runs a but.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,640
  • Nov 9, 2012 9:43am Nov 9, 2012 9:43am
Quoting Bones
its sitting on 1 and a whole load of recent price support C-12
How about GBPUSD? D1 bearish of course but my intraday longs just came off 1 pip shy of target. Probably break even these if this doesn't turn around.
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