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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

  • #15,301
  • Nov 13, 2008 3:12pm Nov 13, 2008 3:12pm
Quoting FXBat
hey Raczek, were you thinking abt this PB? will you trade it? i think it looks great.

(USD/CHF Daily PB)
Was watching weekly ppz on u/chf. I have already pos in fiber, but this could be a very nice trade also. We could get a weekly PB as well. We'll see. I have marked (blue horizontal lines on daily) few points of interest.....
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  • #15,302
  • Nov 13, 2008 3:21pm Nov 13, 2008 3:21pm
gu also looks interesting. I'm not a fundi guy, but lower interest rates should already be priced in here. If we get a daily pb, I might stay in this trade. If not I'll call it the weekend..
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  • #15,303
  • Nov 13, 2008 3:47pm Nov 13, 2008 3:47pm
Quoting raczekfx
gu also looks interesting. I'm not a fundi guy, but lower interest rates should already be priced in here. If we get a daily pb, I might stay in this trade. If not I'll call it the weekend..
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the monthly chart is very bearish .. i mean by very is I never saw momentum like that Before :O

kinda makes me wonder if there are any bulls left alive in there ..hmm..

nice setup th0... good luck
  • #15,304
  • Nov 13, 2008 4:26pm Nov 13, 2008 4:26pm
Quoting raczekfx
.. yes, when dow hit that 3B (around 7990), I bought all three: dj, e/u and g/u...., been waiting for the last 3 days for this . Set up tps for half and will see what happens with the rest.
R.
Took half prof at same area. Lined up with trendline alert. lol

Trade payed for . Can't beat it.

Chance I'll be taken out by a retrace on mine now at BE.
Bundy's status today: "Waiting..."
  • #15,305
  • Nov 13, 2008 4:35pm Nov 13, 2008 4:35pm
so what's the general consensus regarding all the outside bars that have formed? I got 5 potential trades on, but realistically see 2 breaking.
  • #15,306
  • Nov 13, 2008 5:16pm Nov 13, 2008 5:16pm
What's up with GJ
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  • #15,307
  • Nov 13, 2008 5:44pm Nov 13, 2008 5:44pm
5pips short of a daily buovb.
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  • #15,308
  • Nov 13, 2008 6:08pm Nov 13, 2008 6:08pm
daily buovb right on ppz...
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  • #15,309
  • Edited 6:35pm Nov 13, 2008 6:34pm | Edited 6:35pm
Quoting raczekfx
Was watching weekly ppz on u/chf. I have already pos in fiber, but this could be a very nice trade also. We could get a weekly PB as well. We'll see. I have marked (blue horizontal lines on daily) few points of interest.....

I will admit i am not the sharpest knife here. But i am really confused on setups like this. Yes it is a PB and on the daily TF which i find are fairly reliable, even ones in bad positions i can often get to BE at least.

However with all those bar highs at 1.180 will this trade have any place to go? So far i see pb and weekly PPZ for the trade and the trend with recent resistance against the trade. Am i missing something obvious here?
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  • #15,310
  • Nov 13, 2008 7:14pm Nov 13, 2008 7:14pm
I want to show a bit off with my recent Eur Chf PB daily trades, which were very successful probably for a novice mistakes are much more important in the process of learning, but it feels so great to spot good trades as well. I entered on both PBs indicated by arrows. The second trade still going, with stop a little above BE.
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Market can stay irrational longer than you can stay solvent.
  • #15,311
  • Nov 13, 2008 7:25pm Nov 13, 2008 7:25pm
Quoting saskgui
I will admit i am not the sharpest knife here. But i am really confused on setups like this. Yes it is a PB and on the daily TF which i find are fairly reliable, even ones in bad positions i can often get to BE at least.

However with all those bar highs at 1.180 will this trade have any place to go? So far i see pb and weekly PPZ for the trade and the trend with recent resistance against the trade. Am i missing something obvious here?
you're absolutely correct. If pin breaks, price will most likely slow down or stop around 1.18. This is exactly why I prefer a 'little' more aggressive method of trading, which allows me more room to maneuver, once price moves 'in the right direction'. These days however market is very volatile and everything is possible.
  • #15,312
  • Nov 14, 2008 2:27am Nov 14, 2008 2:27am
Hi Guys,

Is anyone considering playint the daily pin on this pair? Pin is at a swing high and right on the PPZ at 1900. I normally do not trade CT but this pin, if it breaks, seems to fit J16 criteria. Anyone care to comment or feel free to give reasons for NOT taking this pin?

Bertie
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PA is where its at!!
  • #15,313
  • Nov 14, 2008 2:40am Nov 14, 2008 2:40am
Quoting raczekfx
Was watching weekly ppz on u/chf. I have already pos in fiber, but this could be a very nice trade also. We could get a weekly PB as well. We'll see. I have marked (blue horizontal lines on daily) few points of interest.....
Wow raczek, your on a roll. Nice charts.

BEOB on the 8 hour Usd/Chf.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #15,314
  • Nov 14, 2008 2:43am Nov 14, 2008 2:43am
Quoting bertie123
Hi Guys,

Is anyone considering playint the daily pin on this pair? Pin is at a swing high and right on the PPZ at 1900. I normally do not trade CT but this pin, if it breaks, seems to fit J16 criteria. Anyone care to comment or feel free to give reasons for NOT taking this pin?

Bertie
I like how you phased that, "reason for NOT taking this pin?"

I can't find any.
Indicators show the past. Price Action "Indicates" the future.
  • #15,315
  • Nov 14, 2008 2:49am Nov 14, 2008 2:49am
Quoting jarroo
I like how you phased that, "reason for NOT taking this pin?"

I can't find any.
Maybe one reason, area in green (1.1800 area) may (or will) cause some problems. If the Pin breaks.
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Indicators show the past. Price Action "Indicates" the future.
  • #15,316
  • Nov 14, 2008 3:10am Nov 14, 2008 3:10am
Jarroo,

My only concern is the pin is CT. However I think a good question is 'would james himself play this pin?', and I think that the answer would be yes (assuming it breaks, of course!),.

Also, if someone like yourself, who's analysis I much respect, can find no reason not to, that's good enough for me!!

Berti
PA is where its at!!
  • #15,317
  • Nov 14, 2008 3:28am Nov 14, 2008 3:28am
Quoting bertie123
Jarroo,

My only concern is the pin is CT. However I think a good question is 'would james himself play this pin?', and I think that the answer would be yes (assuming it breaks, of course!),.

Also, if someone like yourself, who's analysis I much respect, can find no reason not to, that's good enough for me!!

Berti


It looks to be a classic Pin Bar reversal.

But as you know if you ever played Texas Holdem, holding a pair of Aces doesn't always win.
Indicators show the past. Price Action "Indicates" the future.
  • #15,318
  • Nov 14, 2008 3:39am Nov 14, 2008 3:39am
Jarroo,

Saw those bar highs at green area as potential problem so have placed my entry stop below this area. Lets now see what happens.
PA is where its at!!
  • #15,319
  • Nov 14, 2008 3:41am Nov 14, 2008 3:41am
Quoting jarroo
It looks to be a classic Pin Bar reversal.

But as you know if you ever played Texas Holdem, holding a pair of Aces doesn't always win.
I like that one.
Bundy's status today: "Waiting..."
  • #15,320
  • Nov 14, 2008 3:42am Nov 14, 2008 3:42am
Quoting bertie123
Jarroo,

Saw those bar highs at green area as potential problem so have placed my entry stop below this area. Lets now see what happens.
Good decision bert. I believe Jim would play it the same way.
Indicators show the past. Price Action "Indicates" the future.
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