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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

  • #101,861
  • Edited 7:41pm Sep 16, 2011 7:23pm | Edited 7:41pm
Quoting geniusztc
and another important reason to short it ,the uptrend line have broken .and on h4 chart ,the up trend line have now been ressistance .
You were right about USD/CAD Gen.

That said, it is not a trade I would ever regret not taking.


It did break through on the daily, H4 looked a bit dodgy though around this area. The weekly BEOB looks interesting.
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  • #101,862
  • Sep 16, 2011 8:05pm Sep 16, 2011 8:05pm
Quoting stochman
No Pinbar I meant that I'd spent 8/10 hours a day, five days a week for the last nine months either demo trading, trading a micro account or reading threads, books, etc, so basically I have nine months of trading experience, good, bad or indifferent, under my belt at this present point in time

Oh, I see.

Thought you had been studying the thread for so long.

I am sure, you will have picked up a lot during that time.

Some people including myself, did not even know what a TL was when they first came here. I found babypips and did the whole course over there & then came back to this thread, after which I joined the PF.

I have fond memories of that time, when everything is fresh, it kept me going all the way through this thread.

PS: So, compared to me, you have a much easier task.
  • #101,863
  • Sep 16, 2011 8:08pm Sep 16, 2011 8:08pm
Quoting gungriffin
We do what ever our own system tells us to do, but that does not mean that we ignore items such as this. Base system would say that it is ill advised to trade into these areas, but we all have our modifications. Deep breaths there PB. There is no reason to be confrontational about such things.

Ryan

This one did also not pass my attention.

Nobody was being confrontational, hence the "LOL" included in the sentence.

Perhaps, you should take your own advice.
  • #101,864
  • Sep 16, 2011 8:27pm Sep 16, 2011 8:27pm
Quoting Pinbar
...

Perhaps, you should take your own advice.
Errr....
Always take your Own Advice....

Huge! ! !
Absolutely Huge ! !

Study is a means to Solo Flight.
Compile All you assimilate;
Discard whatever
Remember what you can from ALL Posts...

Then YOU just might be a Trader.

B
  • #101,865
  • Sep 16, 2011 9:08pm Sep 16, 2011 9:08pm
EU is looking interesting after the breakout.

We have the TL, the FTB to the 365 EMA, 50 & 38.2 fibo confluence, combined with the BRN and this band like PPZ area.
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  • #101,866
  • Edited 10:29pm Sep 16, 2011 9:54pm | Edited 10:29pm
Quoting Pinbar
You were right about USD/CAD Gen.

That said, it is not a trade I would ever regret not taking.


It did break through on the daily, H4 looked a bit dodgy though around this area. The weekly BEOB looks interesting.
hey,my friend .actually ,you are great . i just a LUCKY rookie sometimes .but your analysis ALWAYS great .

and eu ,we watched the same thing .3950,4020 seems be the resistance .but there is no action right now .at the same time ,the channel line on h4 (lower time frame )can give some info.

enjoy the weekend .
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A chart helps those who can read it.
  • #101,867
  • Sep 17, 2011 3:12am Sep 17, 2011 3:12am
Quoting biDc
failed pinbar trade. the top wick of the bar after pinbar came right to my pending order just to stop me out the next day lol
Your trade may have failed but the PB has not. Until we get Price to break the Low of that bullish PB . .its still is in play and has not failed.

There is a couple of schools of thought about next bar of a PA setup.

Mainly we want the next bar to break the PA setup (bullish PB) to not only to confirm that the setup is valid but also that there is momentum behind the setup to push it upward.

Well, we got a weak break of the PB which could not even make to its 1st target. Weak momentum or momentum lost.

The other thinking is that since the PB has not failed (breaking the Low of the PB) Price could be building momentum and over some time the PB will breakthrough again and reach its target(s).

I do like the location of this bullish PB, off a strong Support level. But now that Price has close below this level on the Daily and the lack of upward momentum Price could see more downward movement. . .only time will tell.


Just some thoughts,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #101,868
  • Sep 17, 2011 3:14am Sep 17, 2011 3:14am
Quoting 5.25
Barely missed touch trade entry, then got greedy and failed to capitalise the following PB
Hey Tom

I took this trade but i've put my order at 105.55. I was waiting for someone to post it becouse it was so obvious. You missed it because your order was waiting below the bar highs.

gh
  • #101,869
  • Sep 17, 2011 3:31am Sep 17, 2011 3:31am
Quoting 5.25
Barely missed touch trade entry, then got greedy and failed to capitalise the following PB


Quoting Greenhaze
Hey Tom

I took this trade but i've put my order at 105.55. I was waiting for someone to post it becouse it was so obvious. You missed it because your order was waiting below the bar highs.

gh
I was going to ask Tom if he took the Weekly Lowest Close of Support level since Price Broke Through and Close Below it, since I saw the "Weekly LCS" on his chart. . . many got into this one.

Price hit their targets nicely, Weekly Lows . .Weekly setup; Weekly targets. . . interesting to see how Price respects these targets on the Hourly . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #101,870
  • Sep 17, 2011 4:08am Sep 17, 2011 4:08am
I've had a few questions of how I trade. It comes from the common market dynamic of a Resistance level will turn into a Support level when Price breaks through them . .and vice versa. I use the Close Above or Below to confirm this transition.

This Daily chart on the Aud/Usd illustrates this very nicely . .

James16 Price Action setups fit very well with this market dynamic . .we like to see Bullish PA at Support and Bearish PA at Resistance to provide further confirmation of these levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #101,871
  • Sep 17, 2011 5:12am Sep 17, 2011 5:12am
Quoting jarroo
I was going to ask Tom if he took the Weekly Lowest Close of Support level since Price Broke Through and Close Below it, since I saw the "Weekly LCS" on his chart. . . many got into this one.

Price hit their targets nicely, Weekly Lows . .Weekly setup; Weekly targets. . . interesting to see how Price respects these targets on the Hourly . . .
Hey Jarroo,

Those H1 highs made one nice tight support and i really love those easy to spot levels. I am still in with 1/10 of the position lol.

http://www.dailymotion.com/video/xju...om=embediframe - good piece of music for those who appreciate Thom Yorke whining voice.
  • #101,872
  • Sep 17, 2011 7:06am Sep 17, 2011 7:06am
Quoting Greenhaze
I took this trade but i've put my order at 105.55. You missed it because your order was waiting below the bar highs.

gh
Quoting jarroo
I was going to ask Tom if he took the Weekly Lowest Close of Support level...
Hey Kam, Jarroo

This was the second trade on this pair for me. Managed to capitalised on the initial break of that level. I used the Weekly LCS Jarroo as a target (FTA if you like) though my bias was long given all that space on the daily. I guess you shouldn't under estimate the strength of those weekly levels eh Jarroo?

As for the retest of 105.55 GH, I used the Oanda Java feed (sneaking in some trading at work ) but a valid crtique on my chart. Probably would have used the same level as I'd drawn.

Tom Yhorke can whine all he likes, he is a musical genius all be it a little down beat. Suites my personality rather well

Thanks for the input gents. Live account developing rather nicely.
  • #101,873
  • Sep 17, 2011 7:56am Sep 17, 2011 7:56am
Quoting 4FXsake
This may help Ad. Click on the name or symbol and they sort alphabetically.

http://www.selftrade.co.uk/constituents.php?symbole=$NDX.X

Hi 4FX, thank you very much for reply!
Going to check this link in a sec.
Thanks!
  • #101,874
  • Sep 17, 2011 8:02am Sep 17, 2011 8:02am
I may have missed this in previous posts, and it may be simply subjective, but is there a general rule for choosing S/R bands?
Do you the region formed by HBC/LBC and the Bar high/low in the consolidation or reversal area?
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  • #101,875
  • Sep 17, 2011 10:21am Sep 17, 2011 10:21am
Quoting farbeh
I may have missed this in previous posts, and it may be simply subjective, but is there a general rule for choosing S/R bands?
Do you the region formed by HBC/LBC and the Bar high/low in the consolidation or reversal area?
Hey Farbeh

S/R can be a variety of all of the above.

It's just best to look for the most obvious areas where you see this s/r and the flip between s/r or as james calls them PPZ(price pivot zones). These types of areas can come in a variety of ways. I marked some areas on a chart

hope that helps
Mike
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  • #101,876
  • Sep 17, 2011 10:38am Sep 17, 2011 10:38am
We seem to have a weekly BOVB and bearish divergence. Looks like a good trade targeting the previous low.

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There seem very little support along way except at maybe the .9700 level.
  • #101,877
  • Sep 17, 2011 11:01am Sep 17, 2011 11:01am
usd/nok with a weekly pinbar in a rectangle.
r:r 1:1
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meine augen sind die sterne
  • #101,878
  • Sep 17, 2011 11:12am Sep 17, 2011 11:12am
Quoting aserbfx
usd/nok with a weekly pinbar in a rectangle.
r:r 1:1
This one wasn't able to close within the previous bar or under the 5.5 BRN. I think we could see a move to 5.5 then just cruise back higher with the absorption of the selling

Just how I saw this one when flicking through today

Best
Mike
  • #101,879
  • Sep 17, 2011 11:39am Sep 17, 2011 11:39am
Quoting fascist
We seem to have a weekly BOVB and bearish divergence. Looks like a good trade targeting the previous low.

Attachment



There seem very little support along way except at maybe the .9700 level.
This trade sure has its pros and cons

Pros:
Div
TL
Bearish PA from top of Mth BEFL
If it's a Quasimodo bottom, it'll drop to demand before advancing

Cons
It's a short near the base of a BUFl, right above D1 Demand, which makes it slightly premature
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  • #101,880
  • Sep 17, 2011 11:41am Sep 17, 2011 11:41am
Quoting Ifmyante
This trade sure has its pros and cons

Pros:
Div
TL
Bearish PA from top of Mth BEFL
If it's a Quasimodo bottom, it'll drop to demand before advancing

Cons
It's a short near the base of a BUFl, right above D1 Demand, which makes it slightly premature
Sorry, but what is BEFL, BUFI and D1 demand?
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