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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

  • #37,221
  • Jul 13, 2009 11:43am Jul 13, 2009 11:43am
Quoting fat_tom
Folks,

I'm getting potential long vibes from GBPCHF...

daily pin toying with the idea of forming...

bouncing of longstanding PPZ (weekly and monthly charts showing this) - monthly has a low back in 1994!!!! is this even relevant?! LOL

with the trend...

Lets see how she closes but at the moment worth considering for a bullish turn I would say?

Fat Tom
Hey Tom

The key is you identified a great area to look for a potential trade, but don't jump the gun. Many many many times these areas don't give us good enough tip off and we have to watch price do its thing. Lots of time left in the day, and the good bars there will be "no doubt"

Mike
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  • #37,222
  • Jul 13, 2009 11:53am Jul 13, 2009 11:53am
Thought some of you might find this interesting. Looks to be forming a daily pin. Entered and exited this pair earlier today. Should have stayed in, would have been up +250pips!
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Time for a new chapter
  • #37,223
  • Jul 13, 2009 11:53am Jul 13, 2009 11:53am
Quoting mbqb11
Hey Tom

The key is you identified a great area to look for a potential trade, but don't jump the gun. Many many many times these areas don't give us good enough tip off and we have to watch price do its thing. Lots of time left in the day, and the good bars there will be "no doubt"

Mike
Mike,

Cheers for this piece of advice... the order isn't in yet and won't be until the bar closes tonight (if it goes in at all of course!)

easy for us newbs to get excited and carried away thou!

thanks again

Fat Tom
  • #37,224
  • Jul 13, 2009 11:54am Jul 13, 2009 11:54am
Quoting fat_tom
Ghous,

I see your TP...

what do you think of the other areas for potential longer term TPs? (green on chart)

lets see....
Of coarse the minor ppzs will come into play,

I just marked an area price should "really" be looking to head for if bulls start to dictate terms here. This is not my first TP. ...

In fact I might not even enter the trade, still waiting to move my stops on the Eur/Cad first...

Regards,
Ghous.
I believe . . .
  • #37,225
  • Jul 13, 2009 11:57am Jul 13, 2009 11:57am
Quoting ghous
Of coarse the minor ppzs will come into play,

I just marked an area price should "really" be looking to head for if bulls start to dictate terms here. This is not my first TP. ...
Ah... fair enough - I assumed it was but your right it will be the first telling point I think.

Let us see what unfolds.... if at all!

Fat Tom
  • #37,226
  • Jul 13, 2009 11:57am Jul 13, 2009 11:57am
Quoting markf45
Thought some of you might find this interesting. Looks to be forming a daily pin. Entered and exited this pair earlier today. Should have stayed in, would have been up +250pips!
WOW! An almost james like chart there Mark.

Great going.

Never mind on a below potential trade, a winner is a winner.

Ghous.
I believe . . .
  • #37,227
  • Jul 13, 2009 12:00pm Jul 13, 2009 12:00pm
Quoting fat_tom
Ah... fair enough - I assumed it was but your right it will be the first telling point I think.

Let us see what unfolds.... if at all!

Fat Tom
lol!

Price has a lot of self assertive authority but not all.

It will have to unfold. lol!
I believe . . .
  • #37,228
  • Jul 13, 2009 12:04pm Jul 13, 2009 12:04pm
Quoting ghous
It will have to unfold. lol!
True, True!!!

  • #37,229
  • Jul 13, 2009 12:15pm Jul 13, 2009 12:15pm
4h BEOB:

Divergence since...almost...forever. lol!

ppz at 1155 region and a beob low that breached it. An entry would automatically require a break of this ppz. (enables a tighter stop.)

Clear target of 1145.



Ghous.
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I believe . . .
  • #37,230
  • Jul 13, 2009 12:22pm Jul 13, 2009 12:22pm
Quoting ghous
WOW! An almost james like chart there Mark.

Great going.

Never mind on a below potential trade, a winner is a winner.

Ghous.

LOL Thanks Ghous. Still trying to perfect these bounce entries. Also been burnt recently on a few trades by not taking profit early enough, so have been taking profit too early now as a result! Still as you say a win is a win..
Time for a new chapter
  • #37,231
  • Jul 13, 2009 12:30pm Jul 13, 2009 12:30pm
Interesting opportunity on the Aussie, today.
A bounce off a daily support line, and also a 4 hour trendline,
Bar lows to break, then possibly 0.800?
Alas, it was 'Ice Age 3' with four miniature lunatics for me.
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  • #37,232
  • Jul 13, 2009 12:33pm Jul 13, 2009 12:33pm
http://www.forexfactory.com/showpost...ostcount=37209

TP taken,nicely +125 pips,Nice start for the weekend, now I'm looking for opportunities for short.
  • #37,233
  • Jul 13, 2009 12:45pm Jul 13, 2009 12:45pm
Anybody still in this BUOVB? Took it and got out at 72.44. Not really an A trade IMO but still had some good confluence and divergence, and it's a double bottom.
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Time for a new chapter
  • #37,234
  • Jul 13, 2009 12:48pm Jul 13, 2009 12:48pm
Hello Everyone,

My rifle is hidden for this pair when today's close EURGBP.

Confluence on Trendline, 61.8% retracement, ppz.
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  • #37,235
  • Jul 13, 2009 1:01pm Jul 13, 2009 1:01pm
Hello all,

Possible daily pinbar with 365 ema, 61.8 fib, and nice round number 1.8000 confluence. But it looks like there will be traffic on the way down.
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  • #37,236
  • Jul 13, 2009 1:03pm Jul 13, 2009 1:03pm
Quoting PippingMama
Hello Everyone,

My rifle is hidden for this pair when today's close EURGBP.

Confluence on Trendline, 61.8% retracement, ppz.
Hi PippingMama,

Had my eye on this too but looks to be in a bit too much traffic for me. It is with the trend though and there are some good reasons to take it so hopefully it works out for you!
Time for a new chapter
  • #37,237
  • Jul 13, 2009 1:14pm Jul 13, 2009 1:14pm
Quoting markf45
Hi PippingMama,

Had my eye on this too but looks to be in a bit too much traffic for me. It is with the trend though and there are some good reasons to take it so hopefully it works out for you!
The only concern for me would be the 2 bar highs at 1.78

Guess it'll have to be one of those hard and fast break setups to prove it's worth.

Looking at the pin I get this A-plussy feeling.

Ghous.
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I believe . . .
  • #37,238
  • Jul 13, 2009 1:21pm Jul 13, 2009 1:21pm
Quoting markf45
Anybody still in this BUOVB? Took it and got out at 72.44. Not really an A trade IMO but still had some good confluence and divergence, and it's a double bottom.
This is played PERFECTLY

Well done, this is what we do seriously.

Mike
  • #37,239
  • Jul 13, 2009 1:34pm Jul 13, 2009 1:34pm
Quoting mbqb11
This is played PERFECTLY

Well done, this is what we do seriously.

Mike
Thanks Mike... Looks like it might have been worth holding on to a tiny bit longer as it's currently breaking the previous bars high. Will watch how it plays out.

Cracking trading day today though wouldn't you say? Been one of those days that a daily/4hr trader could wait a whole month for!
Time for a new chapter
  • #37,240
  • Jul 13, 2009 1:37pm Jul 13, 2009 1:37pm
Ghous I like the location especially that 18000 rejection. U/J nice divergence on the 1hr got long down low and out at the 61fib looks like too early the A/J is almost a mirror reflection on the 1hr next time I see a setup might play them both something 2 think about.
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