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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

  • #42,141
  • Aug 26, 2009 9:43am Aug 26, 2009 9:43am
Guys,

Looks like EURGBP is being rejected by .8800.
If it closes as a PB I would classify it as a A setup since we have confluence with Fibs.
Do you agree?
My first TP would be around .8700.

I have a question regarding which points to choose for the fibs retracement.
I had the choice between A and B on the graph.
B gives me a nice confluence, with A it is less conclusive.
Since confluence is THE point to look for I was wondering which point is more logical to take.

Cheers
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  • #42,142
  • Aug 26, 2009 9:44am Aug 26, 2009 9:44am
Quoting raczekfx
....
I'm now wondering about fiber. I saw some 'well known' news casters on the first page of FF proclaiming EU to shoot higher, but I saw that PB with divergence and thought 'no way, they must be wrong'....
They may have done that intentionally to let you sell at a discount.
  • #42,143
  • Aug 26, 2009 10:03am Aug 26, 2009 10:03am
Quoting Lapin
Guys,

Looks like EURGBP is being rejected by .8800.
If it closes as a PB I would classify it as a A setup since we have confluence with Fibs.
Do you agree?
My first TP would be around .8700.

I have a question regarding which points to choose for the fibs retracement.
I had the choice between A and B on the graph.
B gives me a nice confluence, with A it is less conclusive.
Since confluence is THE point to look for I was wondering which point is more logical to take.

Cheers
I would and did use point A. The pinbar is between the 50/61FIB, which to me is a good thing... But much more importantly... the strong rejection of 0.88.

Could use divergence as a confluence... but remember that divergence kills in a trending market...

Peace out,

Josh
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  • #42,144
  • Aug 26, 2009 10:08am Aug 26, 2009 10:08am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
is this a correct setup?
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  • #42,145
  • Aug 26, 2009 10:30am Aug 26, 2009 10:30am
Interesting area of confluence.

 

  1. 50 fib ret
  2. Trendline
  3. Congestion zone (support)
  4. 150 4hr.
  5. Round number

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  • #42,146
  • Aug 26, 2009 10:51am Aug 26, 2009 10:51am
  •  2mas
  • | Joined Apr 2007 | Status: Thanks to James 16 family | 89 Posts
Quoting fxprocessor
Interesting area of confluence.

 

  1. 50 fib ret
  2. Trendline
  3. Congestion zone (support)
  4. 150 4hr.
  5. Round number

This 1.4200 has been a comfort zone for fiber for the past 4+weeks. It goes 100-200 pips away and then comes back to it....something like a yoyo
  • #42,147
  • Aug 26, 2009 10:53am Aug 26, 2009 10:53am
It was a busy trading day for my...after missing yesterday trades...

I had 4 intraday trades...4 are winners and another two open on daily.
Not king of R:R, but happy.

I think I am not as picky as I should ...but it works
Price Action !!! Thanks to this thread! It should be removed from the commercial section by all means!

Hope everyone is doing well...and having a great evening (at least here) I'm off to bed

Ben
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  • #42,148
  • Aug 26, 2009 10:54am Aug 26, 2009 10:54am
Quoting Lapin
Guys,

Looks like EURGBP is being rejected by .8800.
If it closes as a PB I would classify it as a A setup since we have confluence with Fibs.
Do you agree?
My first TP would be around .8700.

I have a question regarding which points to choose for the fibs retracement.
I had the choice between A and B on the graph.
B gives me a nice confluence, with A it is less conclusive.
Since confluence is THE point to look for I was wondering which point is more logical to take.

Cheers
Mine would look something to this extent(there is another one from the largest swing point).
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  • #42,149
  • Aug 26, 2009 11:04am Aug 26, 2009 11:04am
Quoting krue
is this a correct setup?
Sorry if I have missed something in the last few pages...based on what did you enter this trade?

Ben
  • #42,150
  • Aug 26, 2009 11:12am Aug 26, 2009 11:12am
Quoting mbqb11
Mine would look something to this extent(there is another one from the largest swing point).
Thanks so I was not that wrong

PA rules. Thanks for the thread and all the advices/info we can find while reading/re-reading this thread.
  • #42,151
  • Aug 26, 2009 11:34am Aug 26, 2009 11:34am
Buovb at swing low... and lift off to another ppz
.
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  • #42,152
  • Aug 26, 2009 11:39am Aug 26, 2009 11:39am
time to reverse the trend or perhaps to make few pips?
maybe so maybe not...
Open daily tf on your platform!
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  • #42,153
  • Aug 26, 2009 11:49am Aug 26, 2009 11:49am
Quoting raczekfx
Buovb at swing low... and lift off to another ppz
.
Hi rac,

That is a pretty cool trade.
Just a question..based on what did you enter? I can see that your entry is before the break of the pin...right?

And by the way, look how it stopped exactly on a round number

Thanks,

Ben
  • #42,154
  • Aug 26, 2009 11:53am Aug 26, 2009 11:53am
Hi,

GJ 4 Hour Pinbar at PPZ / 61.8 Fib / Bullish Divergence on MACD.

First hurdle is 153.50 strong previous support which could act as resistance. If price go through this resistance than next resistance is 155.00 Round Number & 365 EMA and 155.50 small PPZ.

Would appreciate expert comments on this.

Alifari
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The purpose of knowledge is action, not knowledge
  • #42,155
  • Aug 26, 2009 11:53am Aug 26, 2009 11:53am
Quoting Jduester
I would and did use point A. The pinbar is between the 50/61FIB, which to me is a good thing... But much more importantly... the strong rejection of 0.88.

Could use divergence as a confluence... but remember that divergence kills in a trending market...

Peace out,

Josh
I love this - one pair, two different sets of eyes, and two ways of seeing things. Welcome to Trading. :nerd:

Here is my take. Not ready to bail on this long yet. There is a trend line to get busted first. me thinks it may take another run at the 8800 - despite the nice OB on my 4hr chart. I would not trade that bar myself. Third touch can be the charm.
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I'm pretty much done with all this ...
  • #42,156
  • Aug 26, 2009 11:57am Aug 26, 2009 11:57am
hey guys what to you think about the BEOB on EURGBP

http://www.forexfactory.com/showpost...5&postcount=47

i have just quik read the last posts and I saw that some guys where playing the PB over the 1h. that PB I dind't saw it
  • #42,157
  • Aug 26, 2009 12:10pm Aug 26, 2009 12:10pm
Quoting triger88990
hey guys what to you think about the BEOB on EURGBP

http://www.forexfactory.com/showpost...5&postcount=47

i have just quik read the last posts and I saw that some guys where playing the PB over the 1h. that PB I dind't saw it
Yeah SP, your view is just as valid, imo. I'm at b/e now, so if you want to run that thing back up through 0.88, feel free

Triger,
Excellent analysis in my opinion. You referenced your thoughts on the trend direction, the bar, the location, space, and the potential problem areas.

Happy Trading! Nap time for me...

Josh
  • #42,158
  • Aug 26, 2009 12:27pm Aug 26, 2009 12:27pm
Quoting raczekfx
time to reverse the trend or perhaps to make few pips?
maybe so maybe not...
Open daily tf on your platform!
I'll play - I'm bored at work.

A few pips... Green dashed line is 1.7450, grey box is a PPZ, Light gray dotted is 1.7500.

A few pips. 80 to 100 maybe. Then a bounce down. Maybe. Maybe not. Perhaps a shot at a retrace entry on this bar... Hhmm... Maybe...

BTW -- Do any 'catching' this week?
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I'm pretty much done with all this ...
  • #42,159
  • Aug 26, 2009 1:05pm Aug 26, 2009 1:05pm
Quoting StoragePro
I'll play - I'm bored at work.

A few pips... Green dashed line is 1.7450, grey box is a PPZ, Light gray dotted is 1.7500.

A few pips. 80 to 100 maybe. Then a bounce down. Maybe. Maybe not. Perhaps a shot at a retrace entry on this bar... Hhmm... Maybe...

BTW -- Do any 'catching' this week?

looking at the 4hr..
this has all the hallmarks of playing a retrace to me..


look for a Rac fave on this one.......
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  • #42,160
  • Aug 26, 2009 1:06pm Aug 26, 2009 1:06pm
Quoting StoragePro

BTW -- Do any 'catching' this week?
I did last week, this week no... I do a lot of flying this week.

btw: if anyone has a spare carbon wing tube for this bird pls PM me.
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