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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

  • #20,681
  • Feb 6, 2009 2:10am Feb 6, 2009 2:10am
2nd High hit.

Its a High on the Weekly and a PPZ level on the Daily.
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Indicators show the past. Price Action "Indicates" the future.
  • #20,682
  • Feb 6, 2009 2:26am Feb 6, 2009 2:26am
Quoting jarroo
2nd High hit.

Its a High on the Weekly and a PPZ level on the Daily.
Thanks, Jarroo, Ghous and others, ur E/G trades and following up are the best lesson I got this wk. I dont trading this pair, but really benefit a lot.

Hope u will do more of this kind of live and following up analysis.
  • #20,683
  • Feb 6, 2009 2:29am Feb 6, 2009 2:29am
Quoting Piproo
Thanks, Jarroo, Ghous and others, ur E/G trades and following up are the best lesson I got this wk. I dont trading this pair, but really benefit a lot.

Hope u will do more of this kind of live and following up analysis.
First time I traded this pair this year or last year for that matter. An obvious Weekly setup is hard to pass by.
Indicators show the past. Price Action "Indicates" the future.
  • #20,684
  • Feb 6, 2009 2:31am Feb 6, 2009 2:31am
GM guys,
hey jaroo i like ur charts, they look clean, mayb cos of the white background
is dis a valid dlhc to trade if it holds, thnx
i see the pa, it remains whether they r tradable
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Simplicity is the key to success
  • #20,685
  • Feb 6, 2009 2:39am Feb 6, 2009 2:39am
Quoting squeezy
GM guys,
hey jaroo i like ur charts, they look clean, mayb cos of the white background
is dis a valid dlhc to trade if it holds, thnx
i see the pa, it remains whether they r tradable

If it holds its a valid formation of a DBLHC.

Your right, what would make it tradable? Like to see DBLHC at swing Lows and DBHLC and swing Highs.

Another approach is that a DBLHC is a bullish formation and when taken with a bullish trend could be doable but risky.
Indicators show the past. Price Action "Indicates" the future.
  • #20,686
  • Feb 6, 2009 3:26am Feb 6, 2009 3:26am
Quoting jarroo
If it holds its a valid formation of a DBLHC.

Your right, what would make it tradable? Like to see DBLHC at swing Lows and DBHLC and swing Highs.

Another approach is that a DBLHC is a bullish formation and when taken with a bullish trend could be doable but risky.
ok thnx, so they r tradable but more risky
so for part of an A trade, is locating our PA at swing high / low
since most of our PA are reversals
cheers
Simplicity is the key to success
  • #20,687
  • Feb 6, 2009 3:45am Feb 6, 2009 3:45am
Quoting bundyraider
It's one of the tabs along the bottom in your 'Terminal' window pane. (The same pane where your trades and account balance show up)

When you have the Alert tab up , just right click within it to create an alert.

Hey Bundy

where u been? time off for summer?

here's a couple of other alerts that might be useful

HLine and TLine drag onto chart - move to where you want or edit properties
alerter - need to add "Alert_#" to the description of the object you want as an alert
Attached File(s)
File Type: mq4 Alerter.mq4   3 KB | 562 downloads
File Type: mq4 TLine Alert.mq4   2 KB | 645 downloads
File Type: mq4 HLine Alert.mq4   2 KB | 585 downloads
  • #20,688
  • Feb 6, 2009 3:52am Feb 6, 2009 3:52am
Hi guys,

it look like a valid buob (my 4H ends in 10 minutes):

1. touched 116.00 (round) which is PPZ.
2. confluence daily pivot
3. looks like a minor up trend shift with the 21ma
4. E/U looks the same. currency correlation

Questions for the experienced PA's:
1. Is it valid?
2. If yes, would you wait for ret to 50% of the big bar? taking the chance of missing it

thanks for the help
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  • #20,689
  • Feb 6, 2009 4:01am Feb 6, 2009 4:01am
Quoting trujillo1980
Did you play just the brake or lower TF to confirm it with PA???
I played it as a break of the bar with the stop placed below the bar itself. IMO this BUOB was in a good location with a decent bullish close above all the bars over the previous few days. Had it closed 40 pips lower, I would not have taken the trade off this bar and would have instead waited for a breakout and retest of the highs.

Anywhere between 1.69 and 1.7 would be a good area to eye up for a retest now, although I'd be happy if it never came back on its way to 1.74

Chris
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  • #20,690
  • Feb 6, 2009 4:21am Feb 6, 2009 4:21am
After watching u guys posting several OB break ppz trades, I think I found u/j is similar pattern?

break the ppz, retest and formed and OB, entry at the break. will be at 92.00, possible target 93.50?

Hope this is a valid setup. correct me if im wrong
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  • #20,691
  • Feb 6, 2009 4:24am Feb 6, 2009 4:24am
I suppose its time to bank some profits, that 4H pinbar makes me nervous
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  • #20,692
  • Feb 6, 2009 4:40am Feb 6, 2009 4:40am
Quoting Piproo
After watching u guys posting several OB break ppz trades, I think I found u/j is similar pattern?

break the ppz, retest and formed and OB, entry at the break. will be at 92.00, possible target 93.50?

Hope this is a valid setup. correct me if im wrong
Personally this isn't a trade I would take. If you zoom your chart out (see below) you can see that you'll be playing right into an area of S/R. I was looking yesterday for some decent price action of this type off the 90.00 level, but unfortunately we never got it. There'll be better trades around the corner. Don't feel bad if you missed a couple of opportunities.

Chris
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  • #20,693
  • Feb 6, 2009 4:42am Feb 6, 2009 4:42am
Quoting datogio
I suppose its time to bank some profits, that 4H pinbar makes me nervous
Until the PB has confirmed it isn't valid!! Have faith in your trade and only exit when price confirms a reversal.No need to hand back those hard earned pips just yet
  • #20,694
  • Feb 6, 2009 4:55am Feb 6, 2009 4:55am
Quoting Chris P
Personally this isn't a trade I would take. If you zoom your chart out (see below) you can see that you'll be playing right into an area of S/R. I was looking yesterday for some decent price action of this type off the 90.00 level, but unfortunately we never got it. There'll be better trades around the corner. Don't feel bad if you missed a couple of opportunities.

Chris

hmmmm, thanks for ur helps!!!!! It's the Resistence I didnt spot .hmmmm, thank u very much for that. great learning here

also there is a daily TL I just found agains this trade
  • #20,695
  • Feb 6, 2009 5:39am Feb 6, 2009 5:39am
For those wondering how to set up Price Alerts (sounds, emails etc) using MT4
Attached File(s)
File Type: pdf MT4_Price_Alerts.pdf   178 KB | 1,105 downloads
  • #20,696
  • Feb 6, 2009 7:25am Feb 6, 2009 7:25am
Everyone is taking a holiday today looks like... only a few of us in here. I'll be gone most of the day too actually... just wanted to see how this number comes out in 5 mins... NFP.

Happy weekend all.

Josh
  • #20,697
  • Feb 6, 2009 7:37am Feb 6, 2009 7:37am
Yeah not a lot of action here and the markets. The Unemployment is the only piece of info today and it didnt show any signs of a bottom for the US.
Arghh it's sooo boring that I even enjoy watching Bulls fight the Bears on E/U Bears should win thou.

And a good weekend to you too Jduester!!!

Amis
simple....
  • #20,698
  • Feb 6, 2009 8:33am Feb 6, 2009 8:33am
Quoting raczekfx
Closing above dw4 ppz, can be considered positive sign for e/j imo.
I would cautiously start looking for setups, with 122 in sight...
.
if this buovb off 4hr ppz is trying to say anything perhaps the next station will be 119.60 and then 122...
anyhow.. stops at BE+, it's friday and time to wind down, relax with something good... Have a good one
.
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  • #20,699
  • Feb 6, 2009 8:55am Feb 6, 2009 8:55am
Quoting raczekfx
if this buovb off 4hr ppz is trying to say anything perhaps the next station will be 119.60 and then 122...
anyhow.. stops at BE+, it's friday and time to wind down, relax with something good... Have a good one
.
Hi Rac,

If I may ask you, at which point do you start to change your stop to BE? Is it at minor PPZ marked by the orange line? I assume your entry would be somewhere on the line (touch entry). Thanks!
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  • #20,700
  • Feb 6, 2009 9:14am Feb 6, 2009 9:14am
Quoting Chris P
For those wondering how to set up Price Alerts (sounds, emails etc) using MT4

Thank you Chris, it will help me aloooot!!!
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