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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

  • #32,021
  • Jun 3, 2009 7:34am Jun 3, 2009 7:34am
Quoting Ryanmcd
You need more lines on your charts.
actualy i see fibonacci show is me all the lines , if i miss something show it to me
The million dollar man Alkhatarey
  • #32,022
  • Jun 3, 2009 7:34am Jun 3, 2009 7:34am
Quote
......Its in a very nice ppz , Fibnacci levels , Resistance , roung number 4300........

alkhatarey,
the eur$ short has already played out via a H4 BEOB, giving at least 50-60 pips for some/many here. It may go down further from here.

Let's be objective.
although it's not the only consideration, always be aware/mindful of the size of a PB. the weekly chart shows a small PB after 2 HUGE candles. this small PB may/may not be enough to cause a substantial reversal.

On the plus side, u have made some good points above.
also, the weekly down-trendline (also included in your chart) starting from Sept22'08, now around 1.4400-ish may also be playing as resistance.

eur$ may present another short (late entry/re-eentry, from the recent H4 BEOB) opportunity later, as it's now back around 1.4190 level, who knows...
  • #32,023
  • Jun 3, 2009 7:38am Jun 3, 2009 7:38am
Quoting alkhatarey
I see the chart full of reversal patterns

i see there is a very nice opportunity for shorting the eur/usd

Its in a very nice ppz , Fibnacci levels , Resistance , roung number 43000 and there is a pin bar started to play on the weekly , OB on the daily


does anyone will take it with me
hey alkha, when u r thru wit ur fibs, u need to jst mark the areas u r interested in, leaving it will confuse us viewing it (including urself)
make ur charts much cleaner for better understanding
cheers
Simplicity is the key to success
  • #32,024
  • Jun 3, 2009 7:40am Jun 3, 2009 7:40am
Quoting squeezy
hey alkha, when u r thru wit ur fibs, u need to jst mark the areas u r interested in, leaving it will confuse us viewing it (including urself)
make ur charts much cleaner for better understanding
cheers
every coloer of these coloers shows something for me , and even the fibs

and i have another chart to watch it simple

thanks for your note
The million dollar man Alkhatarey
  • #32,025
  • Edited 8:29am Jun 3, 2009 7:55am | Edited 8:29am
Quoting alkhatarey
.. if i miss something show it to me
.
http://www.gifninja.com/Workspace/36...105/output.gif
.
- )
,
  • #32,026
  • Jun 3, 2009 7:58am Jun 3, 2009 7:58am
Quoting raczekfx
.
hahahahahaaha
the very crystal ball....nice
u guys crack me up
nice one rac
Simplicity is the key to success
  • #32,027
  • Edited 8:12am Jun 3, 2009 8:01am | Edited 8:12am
raczekfx,
short but sweet.


EDIT:
the crystal ball finally showed up an image...
  • #32,028
  • Jun 3, 2009 8:03am Jun 3, 2009 8:03am
Lol, nice one
  • #32,029
  • Jun 3, 2009 8:17am Jun 3, 2009 8:17am
lol,Paris Hilton in the infamous crystal ball....
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #32,030
  • Jun 3, 2009 8:27am Jun 3, 2009 8:27am
Quoting LasVahGoose
Hard call. Strong down trend, maybe due for a retrace. I can draw 50% fibo around the 1.10 round number. So maybe pull back to 1.10 - 1.20 before going back down? The 38.2 level looks like a minor PPZ as well. Hard to say...
Looking on the Daily I see maybe price moving up higher than I though before (previous post was 4hr retrace then back down again).

Maybe a Mike Trade? A BUOB at swing low closing above a round number. I guess if the BUOB engulfs more of the previous bars the better. Looking to see how this daily will close.
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #32,031
  • Jun 3, 2009 8:33am Jun 3, 2009 8:33am
Quoting Ryanmcd
You need more lines on your charts.
I'm through with lines buddy! 18 blown accts in 5 weeks. I have learned my lesson for good! From now on all I'm using are MA's, oscillators, bands, pitchforks and grids. Wish me luck!

K.I.S.S.
  • #32,032
  • Jun 3, 2009 8:43am Jun 3, 2009 8:43am
Quoting KissFan
I'm through with lines buddy! 18 blown accts in 5 weeks. I have learned my lesson for good! From now on all I'm using are MA's, oscillators, bands, pitchforks and grids. Wish me luck!

K.I.S.S.
hey kiss, still watching the euraud, as i stated earlier i hope to see a buob above 1.7550 for a possible long, dat initial potential pin was jst too short for my liking plus there was way too much time left for the close of the daily bar.....
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Simplicity is the key to success
  • #32,033
  • Jun 3, 2009 9:05am Jun 3, 2009 9:05am
This does look good and I dont want to be nit picky, but technically this isnt a BUOB right? I agree that this is a great "Mike" setup and as u said if it close above round number but how picky does one get if they see it close above round number and it isnt technically a BUOB?

This is food for thought, what do people think about taking great looking "almost" bars at great locations. I myself don't do it but this maybe would be a case if it close above a round number.




Quoting LasVahGoose
Looking on the Daily I see maybe price moving up higher than I though before (previous post was 4hr retrace then back down again).

Maybe a Mike Trade? A BUOB at swing low closing above a round number. I guess if the BUOB engulfs more of the previous bars the better. Looking to see how this daily will close.
  • #32,034
  • Jun 3, 2009 9:18am Jun 3, 2009 9:18am
2:30 = funtime
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Keep taking CT trades, I need more money
  • #32,035
  • Jun 3, 2009 9:23am Jun 3, 2009 9:23am
This is an interesting one, and a bit of a question mark, too.
The cad/chf PinBar did not break straight away, but firstly formed an inside bar, and then today a beob. I scrubbed the pending trade this morning as it seemed price was intent on heading upwards, but re-entered when price started making a serious move downwards.
The question is: How long do you give a PinBar to break?
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  • #32,036
  • Jun 3, 2009 9:25am Jun 3, 2009 9:25am
Quoting Interceptor
This is an interesting one, and a bit of a question mark, too.
The cad/chf PinBar did not break straight away, but firstly formed an inside bar, and then today a beob. I scrubbed the pending trade this morning as it seemed price was intent on heading upwards, but re-entered when price started making a serious move downwards.
The question is: How long do you give a PinBar to break?
Depends. Some only allow the next bar, technically the Pin Bar is valid until the high or low of the pin is broken (long or short). I'm sure there are other variations, so you can customize to what suits you.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #32,037
  • Jun 3, 2009 9:28am Jun 3, 2009 9:28am
I woke up and saw some GREAT Counter Trend trades on the 4H charts (GMT +1). GREAT counter trend trades on the EU, GU, EJ, UCAD, AUDUSD, and NZDUSD.

I passed on all of them, due to the fact they are counter trend. But I believe I learned a lesson. If you get GREAT Counter Trend set-ups, even on charts as small as the 4H, but they are across the board (in this instance), I believe the probability of at least breaking even on a trade is well within your favor.

Did anyone here take these counter trend trades?
  • #32,038
  • Jun 3, 2009 9:29am Jun 3, 2009 9:29am
Wow when I went to bed last night the USD/CAD trade was pretty close to my SL. I had two dreams last night that the trade went up 300 pips. I wake up and it is no longer in drawdown and up 230 some pips from where it was when I went to sleep.

Now if I hadn't been so fast to set my SL to BE on the AUD/NZD it would be a nice trade too.
  • #32,039
  • Jun 3, 2009 9:32am Jun 3, 2009 9:32am
Quoting unlv_tj
I woke up and saw some GREAT Counter Trend trades on the 4H charts (GMT +1). GREAT counter trend trades on the EU, GU, EJ, UCAD, AUDUSD, and NZDUSD.

I passed on all of them, due to the fact they are counter trend. But I believe I learned a lesson. If you get GREAT Counter Trend set-ups, even on charts as small as the 4H, but they are across the board (in this instance), I believe the probability of at least breaking even on a trade is well within your favor.

Did anyone here take these counter trend trades?
Took EU short for almost a 100 pips, didn't have enough to put on another trade.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #32,040
  • Jun 3, 2009 9:41am Jun 3, 2009 9:41am
Quoting LasVahGoose
Depends. Some only allow the next bar, technically the Pin Bar is valid until the high or low of the pin is broken (long or short). I'm sure there are other variations, so you can customize to what suits you.
Thanks.
Closed out for +55.
A few bar lows nearby.
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