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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

  • #45,921
  • Oct 13, 2009 10:22am Oct 13, 2009 10:22am
Quoting jarroo
How about showing a chart(s) (Daily, 4 hour, Hourly) that shows that level and we'll go from there.
Hi Jarroo! For the GJ, let's start with this weekly one!
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  • #45,922
  • Oct 13, 2009 10:23am Oct 13, 2009 10:23am
Quoting benji533
Actually, I like it.

Sorry, just now opened that chart lol.

Only concern it's against the trend, but I am going to make an intraday trade of the daily chart with a tight stop...when it touches the round number again.

Ben
Yea worked again. I'm a bit more than 1R now, stop moved to BE. Lets see if I can hit my target.

Ben
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  • #45,923
  • Oct 13, 2009 10:28am Oct 13, 2009 10:28am
Daily GJ.

Long tails from the weekly pivot zone indicates strong rejection. However, a down trend line is hang over the top. Price is making a wedge here.

If the price can break above the trend line, we will see upside movement. If price breaks the weekly pivot zone, expect it to come back to the zone and got rejected. For now, it appears as if there is a willingness to move higher.
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  • #45,924
  • Oct 13, 2009 10:35am Oct 13, 2009 10:35am
GJ 4H.

Price tries to move higher. Can it break the EMA(60) and trend line? Price action will give us clue.
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  • #45,925
  • Oct 13, 2009 10:48am Oct 13, 2009 10:48am
Quoting supremeChaos
'crazy' idea? LOL
nyahahah... i knew it. i was trying to dodge this one. but, to no avail

here are the H1, H4 & daily (FXPro)
the white line is the 141.18ish.
the magenta lines are the Support/PPZs
again, i'm looking for reasons for price reversal other than the minor PPZ (white line)
was expecting price to stop, initially at 141 area (initial TP area from a short trade), but price reversed almost 20pips above that.
on the H4, that doji prior the last bar is actually an IB in another MT4 (XTB) so i'll probably wait what happens when the...
Looks like muliple bars Closes on the hourly gave enough resistence to reverse. How a Bar Closes at key levels give many traders a clue on the strength of Price above or below S/R levels.
Indicators show the past. Price Action "Indicates" the future.
  • #45,926
  • Oct 13, 2009 10:53am Oct 13, 2009 10:53am
Quoting goodtiding5
Hi Jarroo! For the GJ, let's start with this weekly one!
Very nice goodtidings. I like how you fine tuned those levels at the PPZ. I can't help but see that the 140.00, Big Round Number, playing a main role when a clear setup is presented.
Indicators show the past. Price Action "Indicates" the future.
  • #45,927
  • Oct 13, 2009 10:54am Oct 13, 2009 10:54am
Quoting jarroo
Looks like multiple bars Closes on the hourly....
ok, so, so far, that's the only reason it reversed.
Thanks for confirming Sir.
  • #45,928
  • Oct 13, 2009 11:01am Oct 13, 2009 11:01am
Quoting supremeChaos
ok, so, so far, that's the only reason it reversed.
Thanks for confirming Sir.
I've been looking more at the Close of bars along with the Highs/Lows for PPZ and S/R levels. Bundy's line charts (at the Close) got me thinking. ( as he usually does). lol
Indicators show the past. Price Action "Indicates" the future.
  • #45,929
  • Oct 13, 2009 11:09am Oct 13, 2009 11:09am
Quoting jarroo
I'll check it out.

You made my day I look forward to reading your feedback!
  • #45,930
  • Oct 13, 2009 11:18am Oct 13, 2009 11:18am
Quoting jarroo
I've been looking more at the Close of bars along with the Highs/Lows for PPZ and S/R levels. Bundy's line charts (at the Close) got me thinking. ( as he usually does). lol
oh yah, line charts. thanks for reminding me. havent explored that yet.
here, 141.45 is a PPZ (with at least 5 price touches/flips).
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  • #45,931
  • Oct 13, 2009 11:26am Oct 13, 2009 11:26am
Quoting jarroo
Very nice goodtidings. I like how you fine tuned those levels at the PPZ. I can't help but see that the 140.00, Big Round Number, playing a main role when a clear setup is presented.
Yup, big round number is important. Bears may choose to take partial profit here, thus the run up. It looks like the upside movement has run out of the steam. Both downtrend line and EMA(60) seems a good barrier. We may see one more try on the PPZ.

Ken
  • #45,932
  • Oct 13, 2009 11:44am Oct 13, 2009 11:44am
I was reviewing one of Mikes breakout videos at the weekend and thought this trade fitted the bill. The breakout level isn't perfectly defined but I figure its a valid PPZ.

One chart is daily highlighting level, the other is showing retrace to level and PA at level to indicate buying / support.

Any views?
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  • #45,933
  • Oct 13, 2009 11:45am Oct 13, 2009 11:45am
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wow
  • #45,934
  • Oct 13, 2009 11:45am Oct 13, 2009 11:45am
Quoting verno
I was reviewing one of Mikes breakout videos at the weekend and thought this trade fitted the bill. The breakout level isn't perfectly defined but I figure its a valid PPZ.

One chart is daily highlighting level, the other is showing retrace to level and PA at level to indicate buying / support.

Any views?
Pretty close verno

Here is how I would have drawn it
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  • #45,935
  • Oct 13, 2009 12:31pm Oct 13, 2009 12:31pm
Quoting mbqb11
Pretty close verno

Here is how I would have drawn it
Ah ok, I wasn't sure if I could have a breakout of a PPZ or whether the breakout had to be a pretty clearly defined. It seems from your response that it needs to be pretty clear.
  • #45,936
  • Oct 13, 2009 1:09pm Oct 13, 2009 1:09pm
Quoting benji533
Hey guys,

Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?

It will be much easier for me....don't have much time to check charts.

Thanks.

Ben
Hi Ben,

Some one on this thread (don't remember who or when exactly) posted this and it works pretty well, but it's not mine so please use at your own risk or whatever
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  • #45,937
  • Oct 13, 2009 1:13pm Oct 13, 2009 1:13pm
Quoting benji533
Hey guys,

Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?

It will be much easier for me....don't have much time to check charts.

Thanks.

Ben
Ok found it; it was from Que, and it's post #44584.
  • #45,938
  • Oct 13, 2009 1:31pm Oct 13, 2009 1:31pm
anyone looking at EG 4H BEOB.sorry can't post charts as I am on my wireless.
  • #45,939
  • Oct 13, 2009 1:31pm Oct 13, 2009 1:31pm
Quoting TC East
Ok found it; it was from Que, and it's post #44584.
wow thanks a lot TC!

I went a few posts further and seems that this one is the alerter. I'll check it out latter - http://www.forexfactory.com/showpost...ostcount=44609

Thanks Que

Ben
  • #45,940
  • Oct 13, 2009 1:43pm Oct 13, 2009 1:43pm
Intresting
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