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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

  • #26,861
  • Apr 11, 2009 8:51pm Apr 11, 2009 8:51pm
Quoting raczekfx
Are you sure...?
I desperately need to know what everyone thinks before the market opens...... I want to go in big and .....

.... and in the meantime, have a Happy Easter!!!
.
.
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I agree with Mark, I'll be watching most of the yen crosses for a resumption of the up trend...
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I believe . . .
  • #26,862
  • Apr 11, 2009 9:05pm Apr 11, 2009 9:05pm
Quoting Shermenator
Looking foward to selling the usdcad ...with some priece action in the smaller timeframes ....


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Hi Shermanator,

I would personally trade }short term" short between 2200 and 2100 area. I will play breakout trade (break and retest 2100) when the market close below 1.2100 area, since 2200 and 2100 is the important ppz. After the it breaks 2100 and we can target the 1.18 area. 2100 has been a historically heavy support area.

It we just short it 2200 area and it has high prob that it will bouce back from 2100. It is safer zone after it breaks 2100. IMO

This is my chart of analysis.

What do you think my plan? Thanks!
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  • #26,863
  • Edited Apr 12, 2009 4:14am Apr 11, 2009 10:03pm | Edited Apr 12, 2009 4:14am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I was excited too to see such a historical opportunity. but, after reviewing what happened in past, I am puzzled about your outlook. I think you have noticed whipsaw in its history already, so, there should not be so much concern. I hope we can witness a quick move from there next week or so. however, if you had a different view, please let me know. thank you




Quoting ghous
I agree with Mark, I'll be watching most of the yen crosses for a resumption of the up trend...
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  • #26,864
  • Apr 11, 2009 10:57pm Apr 11, 2009 10:57pm
Day after day I'm learning to use all information I've got here!
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  • #26,865
  • Apr 12, 2009 1:17am Apr 12, 2009 1:17am
Quoting ghous
I agree with Mark, I'll be watching most of the yen crosses for a resumption of the up trend...
That's why.....it should help to take technical decision.
bye.

http://www.forexblog.org/2009/04/yen...ulus-plan.html
Patience is essential
  • #26,866
  • Apr 12, 2009 6:56am Apr 12, 2009 6:56am
Just wanted to say a quick recommendation for Martin Prings book, Techinical Anlaysis explained. As the seniors advise that we should be treating our trading plan like a business, I have taken a step back and want to fill in all gaps of knowledge i have in trading, especially technical analysis side. Just reading the first chapter on trend descriptions was enlightening. I know a some parts are not related to Forex but as a trader I think its a great foundation and you probably want to expand to other markets anyway.
Economists have forecast 9 out of the last 5 recessions
  • #26,867
  • Apr 12, 2009 7:10am Apr 12, 2009 7:10am
Quoting krue
I was excited too to see such a historical opportunity. but, after reviewing what happened in past, I am puzzled about your outlook. I think you have noticed whipsaw in its history already, so, there should not be so much concern. I hope we can witness a quick move from there next week or so. however, if you had a different view, please let me know. thank you
I've been bullish all the way, infact last weekend when we saw the BUOB on the yen crosses I was eager to wait for a retracment to the major ppzs that the BUOBs seemed to have broken and I posted it up on the thread too, guess it was on the Chf/Jpy,

Anyways yeah I am looking forward to the level holding but who knows what'll happen so I am "anticipating" the bull run to continue, whether the markets comply or not is another story

Regards,
Ghous.
I believe . . .
  • #26,868
  • Apr 12, 2009 7:22am Apr 12, 2009 7:22am
Quoting benem
That's why.....it should help to take technical decision.
bye.

http://www.forexblog.org/2009/04/yen...ulus-plan.html
...if you're only using this stuff to support your own analysis

AND

...if you're depending and making decisions from this...

Not pointing at this particular article but a lot of such blog stuff cracks me up..."Professor Richard L Jackson" (as if he's supposed to be some kind of a superman) from "Bla Bla Bla" organization feels XXX/YYY should hold at the 114 level. Bearish action expected...DUH! I have been falling for these drivels myriad times...my local newspaper's business section's full of it...and I am not a fundi guy anyhow so I can't care more...
I believe . . .
  • #26,869
  • Apr 12, 2009 7:45am Apr 12, 2009 7:45am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
no argument on its bullish sentiment. the question mark was to the trade management. which level of potential resistance might catch your eyeball the most, and how are you going to play it out? I assume you had a plan already.

Quoting ghous
I've been bullish all the way, infact last weekend when we saw the BUOB on the yen crosses I was eager to wait for a retracment to the major ppzs that the BUOBs seemed to have broken and I posted it up on the thread too, guess it was on the Chf/Jpy,

Anyways yeah I am looking forward to the level holding but who knows what'll happen so I am "anticipating" the bull run to continue, whether the markets comply or not is another story

Regards,
Ghous.
  • #26,870
  • Apr 12, 2009 7:53am Apr 12, 2009 7:53am
Quoting krue
no argument on its bullish sentiment. the question mark was to the trade management. which level of potential resistance might catch your eyeball the most, and how are you going to play it out? I assume you had a plan already.
Mark? I am not Mark...Can't be mark for atleast another 10 years

You quoted my post so I assume the question is directed at me...

I'll be watching for some PA on the 4H or daily, a pin bar or a BUOB would be good, trade management would be just like any other PA trade on the daily (stop's most probably gonna be below the obvious support levels)
I believe . . .
  • #26,871
  • Apr 12, 2009 7:58am Apr 12, 2009 7:58am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
sure, you are not Mark, and the question was for you, ghous. I sometimes say question mark the same word as question, sorry for the confusion. anyhow, thanks for the response.

Quoting ghous
Mark? I am not Mark...Can't be mark for atleast another 10 years

You quoted my post so I assume the question is directed at me...

I'll be watching for some PA on the 4H or daily, a pin bar or a BUOB would be good, trade management would be just like any other PA trade on the daily (stop's most probably gonna be below the obvious support levels)
  • #26,872
  • Apr 12, 2009 8:01am Apr 12, 2009 8:01am
Quoting krue
sure, you are not Mark, and the question was for you, ghous. I sometimes say question mark the same word as question, sorry for the confusion. anyhow, thanks for the response.
By question mark you meant "?"

LOL!



(Silly Ghous, get back on earth...he only meant a stupid language symbol not that superman...)



...
I believe . . .
  • #26,873
  • Apr 12, 2009 8:21am Apr 12, 2009 8:21am
are these mixed signals? Through the eyes of a newbe. I see a possible pin bar on the daily and would you guys call the weekly bar a BEOB if so one senario might be price moving up near the 3300 (target for daily pin bar) then down to around 2900(target for weekly BEOB). Thanks for your input.
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  • #26,874
  • Edited 8:46am Apr 12, 2009 8:24am | Edited 8:46am
Quoting pipaholic
are these mixed signals? Through the eyes of a newbe. I see a possible pin bar on the daily and would you guys call the weekly bar a BEOB if so one senario might be price moving up near the 3300 (target for daily pin bar) then down to around 2900(target for weekly BEOB). Thanks for your input.
Mixed signals depending on how you look at it. For example say price breaks the pin(that has very litle space to move higher, like the one from a few days ago), that pin then worked out. Then price moves lower breaks the low of the BEOB which is also in traffic and works out. My solution is to keep timeframes independent from each other. Another big plus to waiting for the best setups is you don't really get stuck into situations like this as much where you get frozen by a chart. So IMO the pin is small, and created by a slow holiday and in traffic. And the BEOB is also in traffic and not a true swing high point.

Have a great day
Mike
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  • #26,875
  • Apr 12, 2009 8:41am Apr 12, 2009 8:41am
Quoting mbqb11
Mixed signals depending on how you look at it. For example say price breaks the pin(that has very litle space to move higher, like the one from a few days ago), that pin then worked out. Then price moves lower breaks the low of the BEOB which is also in traffic and works out. My solution is to keep timeframes independent from each other. Another big plus to waiting for the best setups is you don't really get stuck into situations like this as much where you get frozen by a chart. So IMO the pin is small, and created by a slow holiday and in traffic....
Thanks Mike, really appreicate your input.
Every moment in the market is unique. (Mark Douglas/ Trading in the Zone))
  • #26,876
  • Apr 12, 2009 9:14am Apr 12, 2009 9:14am
Quoting ghous
...if you're only using this stuff to support your own analysis

AND

...if you're depending and making decisions from this...

Not pointing at this particular article but a lot of such blog stuff cracks me up..."Professor Richard L Jackson" (as if he's supposed to be some kind of a superman) from "Bla Bla Bla" organization feels XXX/YYY should hold at the 114 level. Bearish action expected...DUH! I have been falling for these drivels myriad times...my local newspaper's business section's...
No Ghous you are tremendously right....James16 all the life.Foundamentals it's only to understand why we see Price Action at such level if it appears.
If we don't see what we want to see...PA around PPZ,supp/res,swing high or low.....bye bye trade.Moving to a better one.
Patience is essential
  • #26,877
  • Apr 12, 2009 1:22pm Apr 12, 2009 1:22pm
Quoting oltciter
Day after day I'm learning to use all information I've got here!
whoa.. way too many lines on that chart
  • #26,878
  • Apr 12, 2009 2:40pm Apr 12, 2009 2:40pm
Quoting mbqb11
...So IMO the pin is small, and created by a slow holiday and in traffic. And the BEOB is also in traffic and not a true swing high point...
Hi,
I've just spotted kind of a similar "setups" on the fiber related pair EUR/AUD and one on the CAD/CHF pair. The both have quite a thick ceiling above them, not bouncing of any important PPZ. To me an easy pass.
Would you agree ? (would be very grateful for an expert opinion)
Besides the market is very thin and illiquid because of the holiday period, so to me these all setups are very fishy and can't help the feeling that is better to relax and sit on the hands then force to trade (at least till Tuesday comes back with normal volume). So far can't find my A+ setup, but is still more than 10 days this month to keep my promise.
Kind regards
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  • #26,879
  • Apr 12, 2009 5:51pm Apr 12, 2009 5:51pm
Quoting pakiestra
Hi,
I've just spotted kind of a similar "setups" ....
Thanks for pointing this one out Pakiestra!

The beob on the EURAUS has penetrated the PPZ & the 50% fib on the monthlies

... we're a day late but the train hasn't left the station yet!
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  • #26,880
  • Apr 12, 2009 8:19pm Apr 12, 2009 8:19pm
Hello fellows,
I am newbie in this forum and have been trying to catch all thing James teaching here though i just go through the page 44 from the start.
Thank you James for your great, this thread and your generation and experience....
Currently i have questions that hope all experienced bros here will make it clear for me
1. What is the signal that you will assume that the pin bar will coming?
2. I am not sure how can i realize and determine the next trend for the DBLHC, DBHLC, BeOVB, BuOVB...i understand its meaning....but don't know how to realize it and how to standarize it...
Please show me material for description of these(i could not find out its detail through google)
Big thank for your help with my stupid questions
Forexngo
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