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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

  • #15,981
  • Dec 1, 2008 9:38pm Dec 1, 2008 9:38pm
Quoting james16
chart
Jim, i have a question,

WHy don't you have fibs drawn from the highs of August and July??
I believe . . .
  • #15,982
  • Dec 1, 2008 9:50pm Dec 1, 2008 9:50pm
Quoting ghous
Jim, i have a question,

WHy don't you have fibs drawn from the highs of August and July??
Am i clattering my charts up with unncesary stuff?? I do know that you deal with fibs just like i have...
I believe . . .
  • #15,983
  • Dec 1, 2008 9:51pm Dec 1, 2008 9:51pm
Quoting ghous
Jim, i have a question,

WHy don't you have fibs drawn from the highs of August and July??
Cause we're playing that weekly PB short now with potential target being 38fib. Fibs reflect retrace Oct 27 low - Nov 26 high
  • #15,984
  • Dec 1, 2008 9:55pm Dec 1, 2008 9:55pm
Quoting raczekfx
Cause we're playing that weekly PB short now with potential target being 38fib. Fibs reflect retrace Oct 27 low - Nov 26 high
Oh! I think iget it now. We are'nt retracing into the overall down move from august. yeah it makes sense now,

Thanks Rac and Jim

Regards,
Ghous.
I believe . . .
  • #15,985
  • Dec 1, 2008 9:55pm Dec 1, 2008 9:55pm
Quoting rustyjeff
Multiple streams of income cant be bad, can it???
Exactly. And the smart way to do it. Even having a side business for the tax benefits etc.

Not to mention something of interest to do other than sitting in front of a screen. lol
Bundy's status today: "Waiting..."
  • #15,986
  • Dec 1, 2008 9:56pm Dec 1, 2008 9:56pm
you mean to check for optimal pullbacks into the trend? here are two and both show good pullbacks.

Quoting ghous
Jim, i have a question,

WHy don't you have fibs drawn from the highs of August and July??
Attached Image (click to enlarge)
Click to Enlarge Name: 121g.gif Size: 31 KB
  • #15,987
  • Dec 1, 2008 10:16pm Dec 1, 2008 10:16pm
Quoting james16
you mean to check for optimal pullbacks into the trend? here are two and both show good pullbacks.
Now just under the Pb lie three diferent kinds of support lines, should this area not classify for strong support enough to keep somebody away from taking the Pb trade??

And when you say that a trade was only to be taken under the 5300 level it is also quite possible that the price makes it through the 5300 level but climbs back to close above it? In this case it may not happen but i am just making a general query...

Also if we do go down does all of the fib retracment levels that come in that path get void because it simply won't be a retracment atall but a move with the overall trend or can we expect support at these levels too??
I believe . . .
  • #15,988
  • Dec 1, 2008 10:59pm Dec 1, 2008 10:59pm
Quoting jarroo
The PB at 50% retrace, at 4 hour PPZ level, above 121.00 Round number. Anything else?

We'll have to wait for the break on the PB. Looks good.
Waiting for the break saves the day again. (I thought I'd give an upate.)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,989
  • Dec 2, 2008 1:20am Dec 2, 2008 1:20am
Quoting Almfx
Hello friends! I need help getting rid of this 'MML_LatestCalcBar' Arrow distracting my monitoring of latest bar. I can see you guys don't have the arrow in your last bars. Thanks
Attachment
I want remove this arrow symbol that (even when I delete it) always appears when a new bar opens.

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #15,990
  • Dec 2, 2008 1:46am Dec 2, 2008 1:46am
Hello,

I see a pin Bar with IB's on either side of it. The Red MA is 365 day, White is 150, and Blue is 100. I have a S/R line at 1.1755.

How do we analyse this setup? Assuming Hypothetically that the bar for the current month stayed similar to the way it is now.
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-11-28-eu-w1-1.gif Size: 11 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #15,991
  • Dec 2, 2008 1:54am Dec 2, 2008 1:54am
Quoting LasVahGoose
Hello,

I see a pin Bar with IB's on either side of it. The Red MA is 365 day, White is 150, and Blue is 100. I have a S/R line at 1.1755.

How do we analyse this setup? Assuming Hypothetically that the bar for the current month stayed similar to the way it is now.
Hi LahVahGoose,

The present pin doesn't seem to be as prominent as the earlier one, looking at the last few weekly bars one can look upon it as a pin in traffic and not really one of those which really appeal, however if you do wish to take it i advice you to know the strength of the 1.25 price level, shorting the pin bar has to be below this level if at all it is necessary to be traded,

Regards,
Ghous.
I believe . . .
  • #15,992
  • Dec 2, 2008 2:07am Dec 2, 2008 2:07am
Quoting ghous
Hi LahVahGoose,

The present pin doesn't seem to be as prominent as the earlier one, looking at the last few weekly bars one can look upon it as a pin in traffic and not really one of those which really appeal, however if you do wish to take it i advice you to know the strength of the 1.25 price level, shorting the pin bar has to be below this level if at all it is necessary to be traded,

Regards,
Ghous.
Ah, I see what you mean about the 1.25 price level. So basically, we have hit a pretty strong demand area and we would need to see a real solid break, which goes back to May 2005 or so. If it did break the 1.25 hard, would the next demand area / level be 1.17 area?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #15,993
  • Dec 2, 2008 2:27am Dec 2, 2008 2:27am
Quoting LasVahGoose
Ah, I see what you mean about the 1.25 price level. So basically, we have hit a pretty strong demand area and we would need to see a real solid break, which goes back to May 2005 or so. If it did break the 1.25 hard, would the next demand area / level be 1.17 area?
you're targeting the right area for the next major support, but i would not term it as just a single price level. I feel it's more the support on and around the 1.2 round number, 1.17 being the lower limit of the range.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 11 KB
I believe . . .
  • #15,994
  • Dec 2, 2008 2:43am Dec 2, 2008 2:43am
Quoting saskgui
Situation here where their is clear ppz however it is somewhat of a choppy mess trend wise and there is the distinct possibility of meeting resistance as soon as the pin breaks. Good enough for 1% on my demo as i need the experience. However entry will be 1.5825... just above resistance? TP 1.60.
I skipped it. I don't like all the traffic.
Mr. Trend
  • #15,995
  • Dec 2, 2008 2:44am Dec 2, 2008 2:44am
Quoting jarroo
Waiting for the break saves the day again. (I thought I'd give an upate.)
Mr. Trend
  • #15,996
  • Dec 2, 2008 3:55am Dec 2, 2008 3:55am
Quoting ghous
you're targeting the right area for the next major support, but i would not term it as just a single price level. I feel it's more the support on and around the 1.2 round number, 1.17 being the lower limit of the range.
I see what you are saying and the picture does make sense the way you have marked it and I appreciate you taking the time to do that.

Thank You.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #15,997
  • Dec 2, 2008 4:49am Dec 2, 2008 4:49am
It looks like E/U is ready for some up movement , maybe pullback to 1.2800 area before another drop. If the h4 will close as BUOB i'll place my orders above it and add half of the position on the first retrace.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.GIF Size: 11 KB
  • #15,998
  • Dec 2, 2008 6:09am Dec 2, 2008 6:09am
not sure if this counts as a BUOB...
but could be IB4
off S/R and 78.6fib and previous trendline

maybe looking to go long above 12678
but then there is another PPZ area around 12700

the more i think about it, the less inclined i am to take this... but will post it anyway in case other have a view on it
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_USD (02-DEC-08).png Size: 21 KB
  • #15,999
  • Dec 2, 2008 6:50am Dec 2, 2008 6:50am
Quoting simoncs
not sure if this counts as a BUOB...
but could be IB4
off S/R and 78.6fib and previous trendline

maybe looking to go long above 12678
but then there is another PPZ area around 12700

the more i think about it, the less inclined i am to take this... but will post it anyway in case other have a view on it
If someone wanted to call that a BUOB that's there choice, but I don't even consider a trade on a poor one like that. In my book that bar's barely bullish of neutral. lol

What I can do sometimes , if I'm convinced everything else supports it...

Next bar close after that one... ...With that sideways action (bar to bar), looking for a really good BUOB (Close in top 1/4 to 5th of bar) and with a convincing push above your suggested 12700 ( ) is the way to go. Ditto for a DBLHC. It's nice to see an above average push higher, and then after a convincing close, buy on retracement. In fact I wouldn't take a trade unless it's a good long bar that dwarves the previous ones immediate to it. And would forget the trade if a retrace didn't get me in.

Not forgetting the "quick obvious profit point"/"Let rest run" thing too, of course.
Bundy's status today: "Waiting..."
  • #16,000
  • Dec 2, 2008 7:11am Dec 2, 2008 7:11am
here is a nice BUOB i took on a confluence with the 50% fib ratio and the 0.634 ppz.


http://i81.photobucket.com/albums/j209/ghous/au.gif
I believe . . .
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