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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

  • #28,981
  • May 1, 2009 11:23am May 1, 2009 11:23am
Quoting jarroo
Where have we seen this formation on the Daily Aud/Usd before?
Oh yeah, on the Daily Cad/Usd. Interesting.
imo lack of space in a/u is a bummer
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #28,982
  • May 1, 2009 11:25am May 1, 2009 11:25am
Quoting jarroo
Where have we seen this formation on the Daily Aud/Usd before?
Oh yeah, on the Daily Cad/Usd. Interesting.
It is interesting, but one major difference for me is the fact that the AUD/USD is against the daily trend. whereas the USD/CAD was with the daily trend. Hmm. Might still work. Pinbar and IB could be powerful. Time will Tell.
"Luck favors the prepared mind"
  • #28,983
  • May 1, 2009 11:27am May 1, 2009 11:27am
Good points guys.
Indicators show the past. Price Action "Indicates" the future.
  • #28,984
  • May 1, 2009 11:31am May 1, 2009 11:31am
Quoting jarroo
Where have we seen this formation on the Daily Aud/Usd before?
Oh yeah, on the Daily Cad/Usd. Interesting.
The only problem I have with this is, that we didn't have similar weekly setup on cad as I see on aussie.
But on the other side when you pull up monthly (aud) that top blue line appears to be solid resistance. Add to that bulls trap on DJ (joking for now, but who knows)....
DJ is facing nice resistance around 8300 and personally I don't see it has much fuel left, at least for now....

If dow closes today around 8055, I'll be happy. It'll give me more insight for next week trades.
Attached Image
  • #28,985
  • May 1, 2009 11:37am May 1, 2009 11:37am
Quoting raczekfx
The only problem I have with this is, that we didn't have similar weekly setup on cad as I see on aussie.
But on the other side when you pull up monthly (aud) that top blue line appears to be solid resistance. Add to that bulls trap on DJ (joking for now, but who knows)....
DJ is facing nice resistance around 8300 and personally I don't see it has much fuel left, at least for now....

If dow closes today around 8055, I'll be happy. It'll give me more insight for next week trades.
one thing that stands out is that every major h4 dip on equities and futures are being rigorously bought up, however YM is slowly shaping an archichng pattern imho

110 % agree that this is a bull trap to suck in more mutual funds and pension funds' money
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #28,986
  • May 1, 2009 11:42am May 1, 2009 11:42am
Hey Jaroo,

When you play the break of a PB do you always put your stop above the high or will you some times make it tighter?
"Luck favors the prepared mind"
  • #28,987
  • May 1, 2009 11:53am May 1, 2009 11:53am
Quoting djambazov84
one thing that stands out is that every major h4 dip on equities and futures are being rigorously bought up, however YM is slowly shaping an archichng pattern imho

110 % agree that this is a bull trap to suck in more mutual funds and pension funds' money
right and every time that happens oil shoots up past $50 level. What do you think will happen to struggling economies when it starts marching higher....
Not too many financial institutions will withstand second round ..

Many (countries) would love to see oil at 80 at higher.. This is not happening for looong, looong time to come. After smoke clears (it will take few years imo) this world will be a different place. So keep your stops in place if you are still short loonie
  • #28,988
  • May 1, 2009 12:06pm May 1, 2009 12:06pm
Quoting jarroo
Good points guys.

Indeed......"what he said." Seriously though, the weekly is at a major decision point. It should be highly profitable, but one must make the right call - or better yet, the right adjustment after the market makes the call.
  • #28,989
  • May 1, 2009 12:19pm May 1, 2009 12:19pm
Quoting raczekfx
right and every time that happens oil shoots up past $50 level. What do you think will happen to struggling economies when it starts marching higher....
Not too many financial institutions will withstand second round ..

Many (countries) would love to see oil at 80 at higher.. This is not happening for looong, looong time to come. After smoke clears (it will take few years imo) this world will be a different place. So keep your stops in place if you are still short loonie
what really bugs me is that weekly g/j and a/u could potentially shape up as bear flags...and THAT is bad

I sincerely hope that I am wrong...sincerely
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #28,990
  • May 1, 2009 2:51pm May 1, 2009 2:51pm
Don't know if anyone has mentioned this . . . Jarroo, you think Euro yen is gonna give us another gift Sunday evening/Monday morning . . . we gotta keep an eye on this one . . . come on Dow 9000 boo yah!
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"Don't trade to trade . . . trade to win." - James16
  • #28,991
  • May 1, 2009 3:08pm May 1, 2009 3:08pm
Indeed, I agree with this. EURJPY may hold the key to the Dow.... Or is it AUDJPY?
  • #28,992
  • May 1, 2009 3:08pm May 1, 2009 3:08pm
Hi, just noticed this.
Watch monthly ppz. Seriously considering this one...
Have a nice weekend
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  • #28,993
  • May 1, 2009 3:16pm May 1, 2009 3:16pm
Quoting egkid
Hello Family,
I realy enjoy read this thread Thanks for everyone sharing his experience.
Can i know what you think about this monthly PB"Just closed yesterday" and what class is it?
Depends on my system and anlysis we are going up.

Thanks
Hey Egkid, we call this bar an indecision bar because the close and open are very close to each other. This indicates that during that month both buyers and sellers were satisfied or not sure as to where price should be. The bar is also an inside bar as the whole months price range was found withing the prior months price range. A pin bar biased long will have both the open and the close at the upper top area of the bar, and visa vs. for a bearish pin bar. The bar will not be an inside bar and we want to see these at swing highs and lows. Look at the post above this one for an example of a 2day pin bar at a ppz.
  • #28,994
  • May 1, 2009 3:41pm May 1, 2009 3:41pm
Quoting Alexandra
Indeed, I agree with this. EURJPY may hold the key to the Dow.... Or is it AUDJPY?
Or is it the Dow holds the key to the Eur and the Aud.

I was in & out of the AUD/NZD long from Nov 08 - Feb 09 and I noticed
that if the Dow had a good day the Aud/Nzd had a good day, so...?

Just saying....


Have A nice weekend everybody.
fxScavenger Arrogance is just Ignorance misspelled. abso-PIPn-lutely
  • #28,995
  • Edited 5:01pm May 1, 2009 4:12pm | Edited 5:01pm
I think this upcomming trade is about as picky as they get
I would put the house (That is if I hadn't learnt risk management and I even owned a house) on a break lower of todays (friday) IB. It follows a PB (loosely speaking) on Thursday. Add significant fib resistance + trendline and you have confluence upon confluence. Its the daily chart so suitable for traders at all steps in the J16 plan

ps -Ill put the garage on a break higher (again figuratively speaking as I don't own one and only if it conformed to my risk management)

pps - I think the post in my signature belongs in the list of significant posts. Its my favourite anyway




daily EUR/USD chart
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BTC Return This Year: na
  • #28,996
  • May 1, 2009 5:15pm May 1, 2009 5:15pm
Quoting M.A.C.Doug
I think this upcomming trade is about as picky as they get
I would put the house (That is if I hadn't learnt risk management and I even owned a house) on a break lower of todays (friday) IB. It follows a PB (loosely speaking) on Thursday. Add significant fib resistance + trendline and you have confluence upon confluence. Its the daily chart so suitable for traders at all steps in the J16 plan

ps -Ill put the garage on a break higher (again figuratively speaking as I don't own one and only if it conformed to my risk management)

pps...

hmm, so if it breaks lower, where will you be parking your car? lol...just kidding
  • #28,997
  • May 1, 2009 5:21pm May 1, 2009 5:21pm
Quoting Flem26
Don't know if anyone has mentioned this . . . Jarroo, you think Euro yen is gonna give us another gift Sunday evening/Monday morning . . . we gotta keep an eye on this one . . . come on Dow 9000 boo yah!
That sure looks pretty Flem. I would like to see that one at a deeper swing low. But it has some potential because of its size (strength). If Price retraces down to the previous bar high area (before or after the break) will tell me if it has any legs.

http://i43.tinypic.com/30ixtmu.jpg
Indicators show the past. Price Action "Indicates" the future.
  • #28,998
  • May 1, 2009 5:42pm May 1, 2009 5:42pm
Quoting jarroo
That sure looks pretty Flem. I would like to see that one at a deeper swing low. But it has some potential because of its size (strength). If Price retraces down to the previous bar high area (before or after the break) will tell me if it has any legs.
What if it just breaks hard at the top, you ask? I will manage it accordingly, tight stops, retrace to entry (retest), etc.
Indicators show the past. Price Action "Indicates" the future.
  • #28,999
  • May 1, 2009 6:30pm May 1, 2009 6:30pm
Quoting diggsnoob
hmm, so if it breaks lower, where will you be parking your car? lol...just kidding
Maybe off street, and each morning got to stroll a bit
  • #29,000
  • May 1, 2009 6:47pm May 1, 2009 6:47pm
Quoting jarroo
What if it just breaks hard at the top, you ask? I will manage it accordingly, tight stops, retrace to entry (retest), etc.
definitely one to watch.
"Don't trade to trade . . . trade to win." - James16
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