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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

  • #11,041
  • Jun 1, 2008 8:55pm Jun 1, 2008 8:55pm
Quoting raczekfx
kind of late B for my liking....12700 - first touch was rejected on Thursday...
I'm not a big fan of IBs...
.
I had the same opinion on IBs

I've begun to 'Get' IBs lately though. ...Especially looking for instances where an IB will combine with its brother to create a pseudo pin etc and other placement issues that I've noticed.

MM wise, a DJ trade might get out my league anyway. I'll wait and see.
Bundy's status today: "Waiting..."
  • #11,042
  • Jun 1, 2008 9:03pm Jun 1, 2008 9:03pm
Quoting Eklavya
Hi Bundy,

What type of price actions confirms that the odds of a breakout are higher than that of a bounce?
Hi Eklavya,

This ones harder to explain. It's a discretionary opinion. In general though ,if you get a flat gathering of bearish/bullish bars tapping against a resistance or support line, it usually just a case of the restricting orders on the other side wearing down till breaking point

It's never a certain thing and I don't trade a break as such. I'd rather wait for any break to give a pull back.

Like I said, discretionary. It's not a set up for me anyway.
Bundy's status today: "Waiting..."
  • #11,043
  • Jun 1, 2008 9:20pm Jun 1, 2008 9:20pm
Quoting Marsh
In case anyone's interested ive spotted some nicely placed PB's on the 4hr U/J and U/CHF. Just a heads up in case anyone wants 'em.

hey marsh, i do care to have them...tanx
  • #11,044
  • Jun 1, 2008 11:20pm Jun 1, 2008 11:20pm
Quoting bundyraider
I wasn't even looking at my trade levels when I posted the weekly chart. lol

My personal way of trading this differs from some people here.
Chances are that stop will be hit and I exit with locked-in 4 x risk. ...I'm also waiting for another opportunity to add another short position. If the first position is still there as well then woohoo!
Totally forgot about that post, and that you didn't enter on the weekly chart, my apologies. Congrats on the trade!
Hindsight is 20/20
  • #11,045
  • Jun 2, 2008 7:11am Jun 2, 2008 7:11am
Quoting raczekfx
looking to ...., well you know what....
just watch the daily dj chart for clues...
.
heading back home..?
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  • #11,046
  • Jun 2, 2008 7:25am Jun 2, 2008 7:25am
gu... ?
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  • #11,047
  • Jun 2, 2008 9:41am Jun 2, 2008 9:41am
Quoting raczekfx
gu... ?
gu... !
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Indicators show the past. Price Action "Indicates" the future.
  • #11,048
  • Jun 2, 2008 9:45am Jun 2, 2008 9:45am
Inside Bar broken to the downside on Daily timeframe.
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  • #11,049
  • Jun 2, 2008 9:54am Jun 2, 2008 9:54am
Quoting khalchian
Inside Bar broken to the downside on Daily timeframe.
Also off a PPZ. Nice khalchian.
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Indicators show the past. Price Action "Indicates" the future.
  • #11,050
  • Jun 2, 2008 10:23am Jun 2, 2008 10:23am
Quoting james16
chart

I didn't have my stop loss under the 1.9600 as Jim suggested. Hence I was stopped out at 1.9610.

I was thinking of moving my s/l to a lower position, but I don't do that any more. It was a fun ride anyway. I learned a lot.
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Indicators show the past. Price Action "Indicates" the future.
  • #11,051
  • Jun 2, 2008 10:57am Jun 2, 2008 10:57am
Quoting jarroo
gu... !
yup, bought the touch.... on its way to 9950..
  • #11,052
  • Jun 2, 2008 10:58am Jun 2, 2008 10:58am
I guess this is just one of those that don't work out, despite looking like a good setup.

Any comments on this? Did anyone else take it ? Why yes or why wouldn't you ?
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  • #11,053
  • Jun 2, 2008 11:07am Jun 2, 2008 11:07am
Quoting khalchian
Inside Bar broken to the downside on Daily timeframe.
Nice..
this chart is from May 29th (PF)

double top, 150, divergence, confluence....simply saying - trader's dream.....
.
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  • #11,054
  • Jun 2, 2008 11:19am Jun 2, 2008 11:19am
Good place to short USD-CAD? PPZ 1.0000 should play as strong resistance.
Any other idea?
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  • #11,055
  • Jun 2, 2008 11:27am Jun 2, 2008 11:27am
Quoting bee24
I guess this is just one of those that don't work out, despite looking like a good setup.

Any comments on this? Did anyone else take it ? Why yes or why wouldn't you ?
when in doubt, always check larger TF.
Taking 4hr pb with 25ps nose after daily BEB is kind of suicidal.. imho.
It was also in the middle of my established zone. I could consider taking it only if it formed off blue zone.
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  • #11,056
  • Jun 2, 2008 11:31am Jun 2, 2008 11:31am
Quoting jatis
Good place to short USD-CAD? PPZ 1.0000 should play as strong resistance.
Any other idea?
If it closes above your top red line it will act as a resistance and good place to go long after retrace given proper PA
.
p.s. some of us actually went long when DB formed on 4hr with small stop
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  • #11,057
  • Jun 2, 2008 1:03pm Jun 2, 2008 1:03pm
Quoting raczekfx
some of us actually went long when DB formed on 4hr with small stop
Trust price. Know yourself.
  • #11,058
  • Jun 2, 2008 1:08pm Jun 2, 2008 1:08pm
Quoting raczekfx
If it closes above your top red line it will act as a resistance and good place to go long after retrace given proper PA
.
p.s. some of us actually went long when DB formed on 4hr with small stop
that is a hell of a trade mark , i got in a small cad breakout way later today
  • #11,059
  • Jun 2, 2008 2:11pm Jun 2, 2008 2:11pm
Quoting mbqb11
that is a hell of a trade mark , i got in a small cad breakout way later today
I see, we evolved into 2 PA groups....
Breakers and touchers....
First being more mature and patient, second... cries often..., but if they're right........ :-)
  • #11,060
  • Jun 2, 2008 2:14pm Jun 2, 2008 2:14pm
Quoting raczekfx
I see, we evolved into 2 PA groups....
Breakers and touchers....
First being more mature and patient, second... cries often...

LOL mark, you mean you are crying all the way to the bank on trades like this.
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