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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

  • #32,841
  • Jun 9, 2009 7:37am Jun 9, 2009 7:37am
bundyraider,
I'm glad that i finally have thought of a term for those kinds of posts from u. very concise term.

that latest one was a tongue twisting, golden bundy nugget.
  • #32,842
  • Jun 9, 2009 7:39am Jun 9, 2009 7:39am
Hi to all of you...

This is my first post here in this great threat, but as usual, I've been reading it for long time...

Now, I've decided to try to take part into it... So don't be so hard to me... jejeje

Could this be a kind of weekly PB into the confluence off 50% Fibo, long term downtrendline??
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  • #32,843
  • Jun 9, 2009 7:45am Jun 9, 2009 7:45am
Autumm,
thanks for that chart. U did well, don't be too modest

Looking at that chart, it seems to be in a higher swing low. with a healthy amount of space in the far left (middle part of the chart).

Are we nearing the 1.43-1.47 breach?
  • #32,844
  • Jun 9, 2009 7:55am Jun 9, 2009 7:55am
Cable is at the 38.2 retrace of last weeks pin 1.6298 is the 50 fib
  • #32,845
  • Jun 9, 2009 7:59am Jun 9, 2009 7:59am
jplo,
Kumusta (in my native language; spanish-y)... Welcome another lurker!
U should have posted a long time ago.

First, is that nzd$? u failed to mention the currency pair involved.

U mentioned good confluences.

U used a not-so-clear swing high with that Fib. but it's all good.
Try plotting other fibs from another of those swing highs. u might see further confluence. the down-TL was indeed 1 of those confluences.

Some will say that is a neutral weekly bar, some will agree it's a PB. it's fairly huge, looks similar with, or even bigger than, the previous bar in size.

it's possible to encounter PPZs/traffic areas/initial roadblocks within 0.64 - 0.6750 area. so check within H4 & daily for initial trouble spots.

DO post more often.
u post more = u learn more & learn faster
& don't be afraid of what people might say. we are all trying to learn & improve in this thread. Just take responses with a grain of salt & try to learn from them as much as u can.
Good luck!!!
  • #32,846
  • Jun 9, 2009 8:07am Jun 9, 2009 8:07am
Quote
Cable is at the 38.2 retrace of last weeks pin 1.6298 is the 50 fib

Yes 4fun.
1.6200-16230 is also a (minor) PPZ.
if that breaks convincingly, seems the next battleground is at the 1.63-1.6450 area. (can't post charts, sorry)
  • #32,847
  • Jun 9, 2009 8:08am Jun 9, 2009 8:08am
hi Jplo, the bad thing about it is that you are heading to strong support, look at those weekly bar highs on the left, now turning to support. On second look the bar itself isnt that convincing, hardly a B trade imo
  • #32,848
  • Jun 9, 2009 8:09am Jun 9, 2009 8:09am
Quoting supremeChaos
jplo,
Kumusta (in my native language; spanish-y)... Welcome another lurker!
U should have posted a long time ago.

First, is that nzd$? u failed to mention the currency pair involved.

U mentioned good confluences.

U used a not-so-clear swing high with that Fib. but it's all good.
Try plotting other fibs from another of those swing highs. u might see further confluence. the down-TL was indeed 1 of those confluences.

Some will say that is a neutral weekly bar, some will agree it's a PB. it's fairly huge, looks similar with, or even bigger...

Thanks man, I'm encouraged to post more frecuently ("and better"), from now....
As you say, I'm gonna try to "learn as much as possible" related to PA
Thank you again
  • #32,849
  • Jun 9, 2009 8:09am Jun 9, 2009 8:09am
The flag finally broke down I exited my short the 50 stopped it to the pip and that rising tl.Going to hang loose and just watch, probably tank now I am out lol.
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  • #32,850
  • Jun 9, 2009 8:19am Jun 9, 2009 8:19am
Quoting sertio
hi Jplo, the bad thing about it is that you are heading to strong support, look at those weekly bar highs on the left, now turning to support. On second look the bar itself isnt that convincing, hardly a B trade imo
Hi Sertio,
I had think about that support (left bar highs), so I had decided about to wait until the daily Channel, broke and retest to comfirm the trade....
About the bar itself....
What can I say?, I'm still getting my eyes used to PA reading....
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  • #32,851
  • Jun 9, 2009 8:20am Jun 9, 2009 8:20am
Quoting supremeChaos
jplo,
Kumusta (in my native language; spanish-y)...!
Ahhh! Mabuti!

Saan ka nakatira?
Bundy's status today: "Waiting..."
  • #32,852
  • Edited 2:33pm Jun 9, 2009 8:21am | Edited 2:33pm
strong break out of the pin, already took some profit and locked the rest in BE

edit: second half stopped out in BE
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  • #32,853
  • Jun 9, 2009 8:22am Jun 9, 2009 8:22am
4fun,
it's funny u mentioned $jpy.
I have been watching that pair for like 4-7 hrs earlier. it looked undecided for quite some time (to me it seemed playing "hard to get"), but for sure u knew too, that it was gonna fall, 'twas just a matter of time. I was in a trade before & during its drop, so i was not on this one. Good job u caught it! hopefully the others did too..
  • #32,854
  • Jun 9, 2009 8:25am Jun 9, 2009 8:25am
Quote
Ahhh! Mabuti!
Saan ka nakatira?

bundyraider,


hey now, who's coaching u?!!! lol
are u not a bloody Aussie?

correct grammar & spelling
  • #32,855
  • Jun 9, 2009 8:29am Jun 9, 2009 8:29am
Quote
strong break out of the pin, already took some profit and locked the rest in BE
edit: stopped out in BE

nice one, datogio.

u could have left one more position open for a possible further drop.
  • #32,856
  • Jun 9, 2009 8:34am Jun 9, 2009 8:34am
Quoting supremeChaos
nice one, datogio.

u could have left one more position open for a possible further drop.
Thanks Supreme

I'll be adding on retracement or let it go.
  • #32,857
  • Jun 9, 2009 8:37am Jun 9, 2009 8:37am
Quoting supremeChaos
4fun,
it's funny u mentioned $jpy.
I have been watching that pair for like 4-7 hrs earlier. it looked undecided for quite some time (to me it seemed playing "hard to get"), but for sure u knew too, that it was gonna fall, 'twas just a matter of time. I was in a trade before & during its drop, so i was not on this one. Good job u caught it! hopefully the others did too..
Ive been birddoggin this pair for a month, and at times I feel so in tune and other times I feel tired and lost.I got short right near the 61 fib with a 20 pip s/l so I am happy with the trade even if it runs to 97. I am longterm bearish but this hasnt been an easy pair 4 me as of late.
  • #32,858
  • Jun 9, 2009 8:43am Jun 9, 2009 8:43am
Quote
Hi Sertio,
I had think about that support (left bar highs), so I had decided about to wait until the daily Channel, broke and retest to comfirm the trade....
About the bar itself....
What can I say?, I'm still getting my eyes used to PA reading....

jplo,
sertio made some valid points. that's what's good with postings. u encourage many viewpoints to surface & help with your analyses & learning.

another advice would be:
don't get too consumed in the "PA grading system" (A+, B- setup etc). like elliott wave, it is subjective, & therefore every trader may view a PA differently. sertio's B- setup could be an A- to u or vice versa. although it's beneficial to hear others' thoughts.

With regards to PA S/R, start looking for PPZs/ S&Rs at monthly charts, then weekly, then Daily. minor PPZs can also be found in H4 or possibly below. these daily - monthly PPZs/ S&Rs will help u determine where price may/may not go, these will immensely help with your trading.
  • #32,859
  • Jun 9, 2009 8:46am Jun 9, 2009 8:46am
Quoting 4fun
Ive been birddoggin this pair for a month, and at times I feel so in tune and other times I feel tired and lost.I got short right near the 61 fib with a 20 pip s/l so I am happy with the trade even if it runs to 97. I am longterm bearish but this hasnt been an easy pair 4 me as of late.
nice trade mate..one of my favs.
i know how you feel on this pair, all the yen crosses seem to have a life of there own for me! hehe
jon
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PATIENCE... DISCIPLINE
  • #32,860
  • Jun 9, 2009 8:48am Jun 9, 2009 8:48am
Quote
Ive been birddoggin this pair for a month, and at times I feel so in tune and other times I feel tired and lost.I got short right near the 61 fib with a 20 pip s/l so I am happy with the trade even if it runs to 97. I am longterm bearish but this hasnt been an easy pair 4 me as of late.

4fun,
I see.
U must be referring to the ranging state of $jpy, as evidenced in the weekly charts.
It does range more in the shorter TFs, but when it breaks out, it does give "some good" pips. It's not as volatile as the other jpy crosses, but still gives nice pips.
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