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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

  • #2,861
  • Mar 5, 2007 3:08pm Mar 5, 2007 3:08pm
...another very nice bounce off support. I have been eying this setup for a few days, but missed it due to involvement in yen and cable. Hope some of you caught it...

PA
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  • #2,862
  • Mar 5, 2007 3:28pm Mar 5, 2007 3:28pm
Quoting vlazaf
Would any of our resident experts like to form an opinion of the chart attached below.
Reluctance to close above 1.9660 for 3 months, pinbar followed by an IB that looks certain to beak down.
So not a pinbar but the IB break down as mentioned above was very lucrative 100+ banked and now trailing.
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  • #2,863
  • Mar 5, 2007 3:42pm Mar 5, 2007 3:42pm
Quoting vlazaf
So not a pinbar but the IB break down as mentioned above was very lucrative 100+ banked and now trailing.
very nice...
it'll probably slow down if not reverse, around 1.9100 area..
R
  • #2,864
  • Mar 5, 2007 6:23pm Mar 5, 2007 6:23pm
Quoting clam61
wouldnt you have played a long break, and then gotten wiped out as it reversed?
I don't break wedge breaks on their own at all. I just use trendlines as s/r to look for PA there. Again, I'm just curious about the "soft spot"....
BTW, seems like I missed a lot of nice pins today....I'm getting old :S
Trust price. Know yourself.
  • #2,865
  • Mar 5, 2007 7:54pm Mar 5, 2007 7:54pm
Has anyone been keeping up with gbp/jpy....man has she been a wild cat today....
It's All About Attitude ...
  • #2,866
  • Mar 5, 2007 10:50pm Mar 5, 2007 10:50pm
Quoting billser
Has anyone been keeping up with gbp/jpy....man has she been a wild cat today....
I've been busy toying with Yen crosses, but managed to close cable shorts (9388) below 9200 and went long after second failure of 9180 break.

R.
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  • #2,867
  • Mar 6, 2007 3:49am Mar 6, 2007 3:49am
weekly is also at 150 ma's. whats the best way to play this?
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  • #2,868
  • Mar 6, 2007 6:52am Mar 6, 2007 6:52am
Quoting Jimmywa
weekly is also at 150 ma's. whats the best way to play this?
It's not an inside bar yet as it hasn't stopped forming. But if it does end up like this I would put my money on a buy stop, keeping the entry clear of the shadows range which over the recent period has been about 30-40 pips. I would set a first target of around 117.82 which is at the 38.2 fib and S/R.

Spooky coincidence: 117.82 is also at SeekingLight's crosshairs of TLs drawn on the weekly. The timing is about 4 weeks out, but it will be interesting if the price is right.

Mike
  • #2,869
  • Mar 7, 2007 9:35am Mar 7, 2007 9:35am
just broke out and up how far will it go
  • #2,870
  • Mar 7, 2007 3:35pm Mar 7, 2007 3:35pm
notice the 6 arrows left to right numbered 1-6 first 3 are inside bars and also happened at 50 rsi area. numbers five and 6 are also buob and beob setups and look at RSI again. interesting? now lets se how it responds on this bounce up and hooks under RSI at the 50 area and hopefully forms a j16 setup at the 61.8 or 50% retrace area
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  • #2,871
  • Mar 7, 2007 5:43pm Mar 7, 2007 5:43pm
Man it's quiet in here these days........Everyone on holiday or......."Gone To The Dark Side" of the famous PF
It's All About Attitude ...
  • #2,872
  • Mar 7, 2007 5:46pm Mar 7, 2007 5:46pm
Hey Billser,


It is more like "found the light" in the PF...................


RSQ955
  • #2,873
  • Edited 6:07pm Mar 7, 2007 5:56pm | Edited 6:07pm
Quoting rsq955
Hey Billser,


It is more like "found the light" in the PF...................


RSQ955
I know I was only joking.........Can I borrow $129.00 please...........Still Joking.........
It's All About Attitude ...
  • #2,874
  • Edited 6:23pm Mar 7, 2007 6:19pm | Edited 6:23pm
I missed this one by little. Still, I am posting this as an example. I know Mike has been advocating this for quite sometime :-) Good call, MIKE!

You got all the right element here: fibo confluence, minor PP @ 0.9162, EMA(150), and the PIN. Expect to see more down side movement.

Ken
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  • #2,875
  • Edited 6:53pm Mar 7, 2007 6:30pm | Edited 6:53pm
We've got a DHLC on the 4 hr AUD/USD this evening. I'm shooting for the .7720 area. It was also bouncing off the M4 pivot. I'm a fan of the mid-pivots. Nailed a 2 matching lows on the U/J tonight for 33 pips and rode it down to the M2. Thanks James.
Life is too short to have anything but delusional notions about yourself.
  • #2,876
  • Mar 7, 2007 8:08pm Mar 7, 2007 8:08pm
Quoting hoss
We've got a DHLC on the 4 hr AUD/USD this evening. I'm shooting for the .7720 area. It was also bouncing off the M4 pivot. I'm a fan of the mid-pivots. Nailed a 2 matching lows on the U/J tonight for 33 pips and rode it down to the M2. Thanks James.
On the U/J what was the time frame and what is "M2"

Thanks
It's All About Attitude ...
  • #2,877
  • Mar 7, 2007 9:35pm Mar 7, 2007 9:35pm
is this a pin forming. definately not at any important ma's or confluence, but is it a setup poss
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  • #2,878
  • Mar 7, 2007 9:45pm Mar 7, 2007 9:45pm
Yep a pin but no great confluence, i would rather take the nzd/jpy 4hr pin if I had to pick.

Might as well wait for a better signal

M
  • #2,879
  • Mar 8, 2007 8:10am Mar 8, 2007 8:10am
Quoting billser
On the U/J what was the time frame and what is "M2"

Thanks
Billser,

The M2 is the mid-way point between the central pivot point and S1. It was on the hourly. It was a nice set-up as the double bottoms closed just below the central pivot as it happened. It was one of those classic M4 to M2 days.
Life is too short to have anything but delusional notions about yourself.
  • #2,880
  • Mar 8, 2007 8:58pm Mar 8, 2007 8:58pm
Some of the AUD setups in this retracement.
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