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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

  • #19,441
  • Jan 23, 2009 6:01am Jan 23, 2009 6:01am
Quoting ljr
Not sure of any 'quirks' but have gone long at 11630 on the break of the Daily IB. My first TP is at 11750 at which point I am going to move to BE.

There seems to be resistance at ~11680 now

Anybody else currently in this one?

EDIT: sorry talking about UsdChf here!!!!
Hi ljr,

I took the break of the BUOB on the 1h chart, but only after seeing confirmation of the move with a retest first of 1.1600. My first TP was at 1.1685, which wasn't hit on the chart, but did get filled by my broker. Stop is now at BE with my final TP set at 1.1790 where is where I see some more possible resistance.

You are not alone

Chris P
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  • #19,442
  • Jan 23, 2009 6:07am Jan 23, 2009 6:07am
4hr PB on USDJPY
  • #19,443
  • Jan 23, 2009 6:40am Jan 23, 2009 6:40am
Quoting RedCabbage
4hr PB on USDJPY
Red, what feed are you on? This does not show as a PB on my feed.
PA is where its at!!
  • #19,444
  • Jan 23, 2009 6:42am Jan 23, 2009 6:42am
Quoting bertie123
Red, what feed are you on? This does not show as a PB on my feed.
ProRealTime. I use GMT on my charts so US 4hr won't match up.

I tend to stick to 1h charts then I know all buyers and sellers can see what I can see.

EDITED TO ADD CHART.
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  • #19,445
  • Jan 23, 2009 8:12am Jan 23, 2009 8:12am
Today, my sell order on EUR/CHF PB was triggered around 4:00 am, I have my stop loss a few pips above the PBīs nose. Since that, "a shower" of good news came for EUR and the trade came against me. I am these kind of people who thinks that lossers MUST be cutted ASAP, and Price Action MUST rock from the beggining of the trade. So I want to ask a couple of things to the experienced members of this GREAT thread:

1.- What do you think about PB formation, congestion, S/R Area?
2.- How would you mannage this trade?

Thanks in advance for your support.
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  • #19,446
  • Jan 23, 2009 8:18am Jan 23, 2009 8:18am
Quoting jarroo
Anybody seen raczek?
Hey Jim,
I'm in long from 3535. Got a nice pb off a round number, but I'm to post the TF. Closed previous cable longs at a loss.

G/J worked out ok, but only because I hedged it....(short leg already closed)

Until we get some nice PA on a daily, I trade ppz ranges. It's a torture when you have to watch the screens every hour or so...

I believe yen crosses will hit (if not already) the bottom today, so did Dow futures. We'll see.


p.s. It would be very nice to get another daily pb on cable and geppy today, and then break of them next week for a test of 1.44.
  • #19,447
  • Jan 23, 2009 8:33am Jan 23, 2009 8:33am
Quoting raczekfx
Hey Jim,
I'm in long from 3535. Got a nice pb off a round number, but I'm to post the TF. Closed previous cable longs at a loss.

G/J worked out ok, but only because I hedged it....(short leg already closed)

Until we get some nice PA on a daily, I trade ppz ranges. It's a torture when you have to watch the screens every hour or so...

I believe yen crosses will hit (if not already) the bottom today, so did Dow futures. We'll see.


p.s. It would be very nice to get another daily pb on cable today, and then break...
Sounds good, man. Someone had said that you got in and had a loss . I thought to myself . . Ok, he got a 30 pip loss no big deal. lol.

Caught this 30min PB on the Gbp/Jpy. I figure I'd wait on the 30min until the first PB broke. and there it was. (small position)

Took half of at about 130 pips and trailing on hourly Lows. Or until some recognizable S/R levels appear.
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Indicators show the past. Price Action "Indicates" the future.
  • #19,448
  • Jan 23, 2009 8:38am Jan 23, 2009 8:38am
..also looking for a fiber to start appreciating (and perhaps reversing its down trend) from that weekly ppz.
I have some new commitments here in the north pole.. so I won't be able to post as much for some time...
Trade wisely...
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  • #19,449
  • Jan 23, 2009 8:45am Jan 23, 2009 8:45am
Quoting raczekfx
Hey Jim,
I'm in long from 3535. Got a nice pb off a round number, but I'm to post the TF. Closed previous cable longs at a loss.




p.s. It would be very nice to get another daily pb on cable and geppy today, and then break of them next week for a test of 1.44.

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  • #19,450
  • Jan 23, 2009 8:45am Jan 23, 2009 8:45am
Quoting unlv_tj
James, I am quoting the last chart you put up, the break out on the USDCHG chart.

It appears that price was stuck between two fib levels for about a two week period on the daily chart you posted. Though I don't see a specific single bar PA example to trade against.

Did you put an order on each side of the box you have high lighted, and just wait for the first break out?

If so, then you got in long on the break above the box I am guessing.

Is this correct? Thank you for all your help!
Hi unlv ,

If you read his chart text again, you'll notice he was suggesting you draw those same lines in now and watch over the coming weeks.

Do it man.
...Magic trick.
Bundy's status today: "Waiting..."
  • #19,451
  • Jan 23, 2009 8:48am Jan 23, 2009 8:48am
Quoting rustyjeff
Nice. Now thats's how you trade the 5min. lolol

Did you get your 10 -15 pips on that.

Ryanmacd would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #19,452
  • Jan 23, 2009 8:54am Jan 23, 2009 8:54am
Quoting jarroo
Ryanmacd would be proud.
But it's not with the trend.
Bundy's status today: "Waiting..."
  • #19,453
  • Jan 23, 2009 9:02am Jan 23, 2009 9:02am
Good afternoon, all.
I'm looking at USD/CHF(daily), and according to my chart it's hitting a solid S & R area. I'm tempted to short it down towards my 38 fib, but am unsure precisely what PA I should watch out for.
Much appreciated if anybody has any suggestions.
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  • #19,454
  • Jan 23, 2009 9:08am Jan 23, 2009 9:08am
Quoting jarroo
Nice. Now thats's how you trade the 5min. lolol

Did you get your 10 -15 pips on that.

Ryanmacd would be proud.


  • #19,455
  • Jan 23, 2009 9:08am Jan 23, 2009 9:08am
We have potential PB on GBPUSD, H1 short if it brakes the low of the PB.
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  • #19,456
  • Jan 23, 2009 9:11am Jan 23, 2009 9:11am
Quoting bundyraider
OOooooooo....

Tripple divergence on the 1 hour.
Hmmm..... Quad??

Certainly got a fight on our hands here.

Nothings ever certain , but you wouldn't see me trading AGAINST divergence like that at the least.
Bundy's status today: "Waiting..."
  • #19,457
  • Jan 23, 2009 9:16am Jan 23, 2009 9:16am
Does anyone trade Mini Lots with Alpari in the UK ? - what are they like ?

I see ODL have started FX Discovery account for 2009 with slightly higher minimum deposit that Alpari also
  • #19,458
  • Jan 23, 2009 9:20am Jan 23, 2009 9:20am
Quoting Interceptor
Good afternoon, all.
I'm looking at USD/CHF(daily), and according to my chart it's hitting a solid S & R area. I'm tempted to short it down towards my 38 fib, but am unsure precisely what PA I should watch out for.
Much appreciated if anybody has any suggestions.
Do you mean what PA on the daily?

Pins, (and I suppose two bar pins etc)
Bearish Outside Bars,
Double High Lower Close,
...getting a good example of any of those would be ideal.

Inside bar would be the hardest for a newcomer.

You'll know when you see it. If I remember I'll try and help you watch it. Maybe others too.
Bundy's status today: "Waiting..."
  • #19,459
  • Jan 23, 2009 9:24am Jan 23, 2009 9:24am
Quoting advfntrader
Does anyone trade Mini Lots with Alpari in the UK ? - what are they like ?

I see ODL have started FX Discovery account for 2009 with slightly higher minimum deposit that Alpari also
They are one of the smallest companies. I'd rather not, myself. Just my opinion though.
Bundy's status today: "Waiting..."
  • #19,460
  • Jan 23, 2009 9:30am Jan 23, 2009 9:30am
Quoting bundyraider
Do you mean what PA on the daily?

Pins, (and I suppose two bar pins etc)
Bearish Outside Bars,
Double High Lower Close,
...getting a good example of any of those would be ideal.

Inside bar would be the hardest for a newcomer.

You'll know when you see it. If I remember I'll try and help you watch it. Maybe others too.
Thanks for that. I'm currently hoping that it develops into a Pin.
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