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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

  • #16,581
  • Dec 9, 2008 11:50pm Dec 9, 2008 11:50pm
Quoting phpscott
I am not Jarroo but I agree with Mr. T. The pinbar itself was beautiful! The reason I would not trade it is due to the rather sideways move just prior to the pinbar. When a bar setup appears, I determine if the market reaction that created the setup is strong or weak. The sideways movement indicates weak reaction to me as price just hung around the resistance just prior to the pinbar. Hope I made sense. There are always great setups around the corner, so why not be extremely selective? We had IBs galore on the daily charts today, however, I did...
I am Jarroo and I agree with you completely. lol

I like the 1.5650 area, now let's wait and see if we get some obvious PA set-ups.

Well said phpscott.
Indicators show the past. Price Action "Indicates" the future.
  • #16,582
  • Dec 9, 2008 11:55pm Dec 9, 2008 11:55pm
Quoting LasVahGoose
Not sure if this helps or is valid, but looks like it broke the 61.8 fibo @ 1.5577 area to hit that S/R line @ 1.5650.
Taking another fibo from the previous wave (in Red) the 50 and 61.8 are almost on top of each other at that area as well.
Attached Image (click to enlarge)
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,583
  • Dec 10, 2008 12:01am Dec 10, 2008 12:01am
Quoting LasVahGoose
Not sure if this helps or is valid, but looks like it broke the 61.8 fibo @ 1.5577 area to hit that S/R line @ 1.5650.
Hey LVG.

Check out the Pin Bars on your Monthly chart and see how much draw down you would have had it you took the breaks.

Cool Stuff!

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #16,584
  • Dec 10, 2008 12:35am Dec 10, 2008 12:35am
Quoting jarroo
Hey LVG.

Check out the Pin Bars on your Monthly chart and see how much draw down you would have had it you took the breaks.

Cool Stuff!

Jim
Not sure what mean... I was looking at the short trade Ghous was talking about. You had mentioned the 1.5650 S/R line and I was saying there were also 68.1 and 50.0 fibs close to there as well. Here is a pic of the 4H
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-09-ec-4h-1.gif Size: 17 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,585
  • Dec 10, 2008 12:42am Dec 10, 2008 12:42am
Quoting LasVahGoose
Not sure what mean... I was looking at the short trade Ghous was talking about. You had mentioned the 1.5650 S/R line and I was saying there were also 68.1 and 50.0 fibs close to there as well. Here is a pic of the 4H
Yeah, I know. I was looking at the past Pin Bars on your Monthly chart and seeing the little or no draw down there was off the breaks. That's all.
Indicators show the past. Price Action "Indicates" the future.
  • #16,586
  • Dec 10, 2008 12:52am Dec 10, 2008 12:52am
Quoting jarroo
Yeah, I know. I was looking at the past Pin Bars on your Monthly chart and seeing the little or no draw down there was off the breaks. That's all.
OooooH. Ok, I see what you mean. yeah, I don't know if I could wait months for a trade to play out like that.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,587
  • Dec 10, 2008 12:56am Dec 10, 2008 12:56am
Quoting jarroo
About the Eur/Chf?

I like the location, Monthly PPZ. (1.5650ish area). Price has really reacted strong at this level I would like to see more definable Price Action forming.

That ugly little Daily PB may turn into a beautiful swan.
LOL! Expect anything from these rambling markets
I believe . . .
  • #16,588
  • Dec 10, 2008 1:21am Dec 10, 2008 1:21am
was looking for another chance to get back in on the USDCAD daily bar from monday.
yes i did exit on the 4hr even though i thought USD has further to fall. but wanted the profit in my small account.

so have taken the break of IB4
currently at a support area but i think it will break through this.
Attached Image (click to enlarge)
Click to Enlarge Name: USD_CAD (13-NOV-08).png Size: 15 KB
  • #16,589
  • Dec 10, 2008 1:24am Dec 10, 2008 1:24am
Quoting jarroo
Could you please show a chart and reasons behind your short @1.7784. This is after all the James16 Chart Thread.

A blank statement of "I'm short @. . ." tells us nothing.

With respect,

Jim
Sorry about that. I'm not fully 'house-trained' in these forums yet!
Will try harder.
  • #16,590
  • Dec 10, 2008 1:51am Dec 10, 2008 1:51am
Quoting simoncs
was looking for another chance to get back in on the USDCAD daily bar from monday.
yes i did exit on the 4hr even though i thought USD has further to fall. but wanted the profit in my small account.

so have taken the break of IB4
currently at a support area but i think it will break through this.
You could have closed part of the trade at some point to book profits, unless your "small" account won't allow you to take anything over the minimum of volume. If the latter is true then you have nothing to worry abt. You got out with profit that's more than enough for you infact you should be happy that you were mature enough to not let greed get the better of you and your account.

Welldone!

The next best thing that you can now do is to sit back and relax instead of thinking when can you reload your trade to compernsate for the missed pips, don't unncessary stress out yourself nor force your trades they will pop up like popcorn when they're good enough trust me!

Regards,
Ghous.
I believe . . .
  • #16,591
  • Dec 10, 2008 1:56am Dec 10, 2008 1:56am
Possible 1hr R-db trade on the EURUSD..... not really confident enough with these setups to have a crack on my live account but might have a go at it on my demo.....not much room to move though but could be good for around 1.2917-ish

http://img408.imageshack.us/img408/5561/eurrdbzs4.gif
http://img408.imageshack.us/img408/e...gif/1/w800.png
  • #16,592
  • Dec 10, 2008 2:37am Dec 10, 2008 2:37am
Quoting ghous
You could have closed part of the trade at some point to book profits, unless your "small" account won't allow you to take anything over the minimum of volume. If the latter is true then you have nothing to worry abt. You got out with profit that's more than enough for you infact you should be happy that you were mature enough to not let greed get the better of you and your account.

Welldone!

The next best thing that you can now do is to sit back and relax instead of thinking when can you reload your trade to compernsate for the...
did close in the end as was heading to work - just as well - didn't figure on the reversal from there.
  • #16,593
  • Dec 10, 2008 3:23am Dec 10, 2008 3:23am
Possible pin on this 4H GU (FXpro feed) - 40 min. to go!
Looks like in traffic, but bouncing off the trendline res.
Location is something Iam trying to improve, so need comment on this. Thanks
ALM
Attached Image



Also bouncing off 50 ret., later spotted
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #16,594
  • Dec 10, 2008 3:43am Dec 10, 2008 3:43am
Pros: There is a nice daily PPZ the pin reaches into, nice confluence with the fibs, ppz, and the trendline(taken with salt)

Cons: Somewhat in traffic with price to the left a little messy, not at swing high, a little more PA would be nice
Attached Image (click to enlarge)
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  • #16,595
  • Dec 10, 2008 3:54am Dec 10, 2008 3:54am
Quoting Almfx
Possible pin on this 4H GU (FXpro feed) - 40 min. to go!
Looks like in traffic, but bouncing off the trendline res.
Location is something Iam trying to improve, so need comment on this. Thanks
ALMAttachment


Also bouncing off 50 ret., later spotted

The 4 hour PPZ you have drawn Alm is very good. Let's take a look at the Daily PPZs and see how they relate to the 4 hour.

The Daily PPZs are not very clear but we can get an idea of where they are. The 4 hour PB with the confluence off the 4 hour PPZ may prove to work out very nicely.

Price Action with supporting confluences is a powerful set-up. But as chr5648 has said . .traffic with price to the left a little messy, not at swing high/low. PA closer to the Daily PPZs would be nicer.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #16,596
  • Dec 10, 2008 4:13am Dec 10, 2008 4:13am
Quoting jarroo
The 4 hour PPZ you have drawn Alm is very good. Let's take a look at the Daily PPZs and see how they relate to the 4 hour.

The Daily PPZs are not very clear but we can get an idea of where they are. The 4 hour PB with the confluence off the 4 hour PPZ may prove to work out very nicely.

Price Action with supporting confluences is a powerful set-up. But as chr5648 has said . .traffic with price to the left a little messy, not at swing high/low. PA closer to the Daily PPZs would be nicer.
Sorry. Here's a better chart of 4 PA (PB) off the Daily PPZ.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #16,597
  • Dec 10, 2008 4:20am Dec 10, 2008 4:20am
I wouldn't consider taking the GU PB myself as it is in traffic and not at a swing high, BUT, there's another 4H PB forming at EURUSD which adds to the validity of the short.

Have to wait till the 4H close though...

EDIT: Not a PB anymore at EUR but maybe a BEOB
  • #16,598
  • Dec 10, 2008 4:33am Dec 10, 2008 4:33am
Quoting Vourvoul
I wouldn't consider taking the GU PB myself as it is in traffic and not at a swing high, BUT, there's another 4H PB forming at EURUSD which adds to the validity of the short.

Have to wait till the 4H close though...

EDIT: Not a PB anymore at EUR but maybe a BEOB
You may want to wait until it actually closes. lol
Indicators show the past. Price Action "Indicates" the future.
  • #16,599
  • Dec 10, 2008 4:34am Dec 10, 2008 4:34am
Quoting jarroo
You may want to wait until it actually closes. lol
You may want to read my post again. lol
  • #16,600
  • Dec 10, 2008 4:36am Dec 10, 2008 4:36am
Quoting Vourvoul
You may want to read my post again. lol
What did I miss??
Indicators show the past. Price Action "Indicates" the future.
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