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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

  • #51,901
  • Jan 19, 2010 12:22am Jan 19, 2010 12:22am
Quoting Treefingers
Surely that's subjective as to how much you zoom, I would say only very short is up, otherwise looks sideways.
Trends are by definition subjective to the person looking at the chart IMO.

I actually think that currencies are rangebound(Always) depending on your timeframe.

Within those ranges - they trend.
  • #51,902
  • Jan 19, 2010 12:25am Jan 19, 2010 12:25am
Hi All,

I am looking at this GBPCHF. I am waiting for a set up at the supply line. Admitedly, there is no confluense. Is this a good place to look for set up?

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Kind Regards zol
  • #51,903
  • Jan 19, 2010 12:41am Jan 19, 2010 12:41am
Check out the GOLD I think the bias is turning slightly Bullish , yet still needs confirmation. may be to 1145.50
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  • #51,904
  • Jan 19, 2010 1:28am Jan 19, 2010 1:28am
Quoting zoli
Hi All,

I am looking at this GBPCHF. I am waiting for a set up at the supply line. Admitedly, there is no confluense. Is this a good place to look for set up?

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I like it up there, Not sure where you're drawing that trend line from (maybe it's from another time frame) but the location in general is good enough for me, as you illustrated 1.68 is important.

g.
I believe . . .
  • #51,905
  • Jan 19, 2010 1:30am Jan 19, 2010 1:30am
Velly intellesing !!
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  • #51,906
  • Jan 19, 2010 4:21am Jan 19, 2010 4:21am
Quoting ghous
I like it up there, Not sure where you're drawing that trend line from (maybe it's from another time frame) but the location in general is good enough for me, as you illustrated 1.68 is important.

g.
Hey G
What do you think about the IPB on EJ H4..got some nice confluence as well..RN 130.00 + 61.8 fib... may be this nose is long enough?

Punter
  • #51,907
  • Jan 19, 2010 4:41am Jan 19, 2010 4:41am
Does this look of interest shorting wise?

Jez
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  • #51,908
  • Jan 19, 2010 5:00am Jan 19, 2010 5:00am
What do you think of the 1hr pinbar on G/U. Could be a good time to short it.
  • #51,909
  • Jan 19, 2010 5:05am Jan 19, 2010 5:05am
Quoting jspeakman
Does this look of interest shorting wise?

Jez
Hiya, it might be if it retraces to the PPZ and gives us a PA for short, but I'd be wary about another weekly ppz at 0.8700. and you might want to watch out for that ascending trendline, but I'm bad at drawing trendlines, so who knows...

I think when we see a PA on Daily timeframe, things will get interesting enough, or... when we break out 0.8600

I'm curious to see what the others might think, but I personally don't see anything of interest right now.

http://content.screencast.com/users/...01-19_1802.png
  • #51,910
  • Jan 19, 2010 5:09am Jan 19, 2010 5:09am
Quoting Punter
Hey G
What do you think about the IPB on EJ H4..got some nice confluence as well..RN 130.00 + 61.8 fib... may be this nose is long enough?

Punter
Hi Punter,

That IPB isn't a neat look on my chart, it's long enough but the open and close were'nt close together, besides the only thing I have for confluence was the 130 round number, (the 61.8 fib was going across the end of the tail of the IPB, for it to be a valid source of confluence the IPB had to be sitting on it)

If you look at the daily 131 has been more responsive, furthermore notice that what price did, was exactly what it should have, as per textbook J16 teachings. 131 breaks, and get's retested on the next bar marked with a small bullish bar which failed to close beyond or push at the 131 price level. That said what should we expect?

It's a sure sign for us that 131 former support is now holding as resistance and the trend should continue,

So clearly going long here wasn't a great idea specially via an IPB trade which from one perspective gives you the advantage of a risk:reward better than 1:1 and from another prespective means that you have a very very tight stop, one needs to be extra careful with IPBs which is why i don't recommend them as trading options for newbies. (On my chart the stop had to be abt 15-20 pips only given the method I use to trade them)

g.
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I believe . . .
  • #51,911
  • Jan 19, 2010 5:15am Jan 19, 2010 5:15am
Quoting jspeakman
Does this look of interest shorting wise?

Jez
NOT at this level.

.8700 and PPZ is just 37 PIPS away.

Maybe tomorrow or later at .8785.

In 1H.........
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  • #51,912
  • Jan 19, 2010 5:25am Jan 19, 2010 5:25am
Semester did't started Ghous?????..........
  • #51,913
  • Jan 19, 2010 5:32am Jan 19, 2010 5:32am
Now this where Correlation mess with my mind/plans.

I am LONG UJ and i want to Short hell out of EJ.
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  • #51,914
  • Jan 19, 2010 5:35am Jan 19, 2010 5:35am
Quoting nasir.khan
Semester did't started Ghous?????..........
1st Feb is the day my respite ends.
I believe . . .
  • #51,915
  • Jan 19, 2010 5:45am Jan 19, 2010 5:45am
Quoting nasir.khan
Now this where Correlation mess with my mind/plans.
I am LONG UJ and i want to Short hell out of EJ.
what's your target for UJ? u have a bullish bias on it?
your ej H4 chart shows a TBL (two bar low) breakout (downside), + a continuation PB + descending triangle (consisting of the last 9-10bars)
  • #51,916
  • Jan 19, 2010 5:49am Jan 19, 2010 5:49am
Quoting supremeChaos
what's your target for UJ? u have a bullish bias on it?
your ej H4 chart shows a TBL (two bar low) breakout (downside), + a continuation PB + descending triangle (consisting of the last 9-10bars)
91.20
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  • #51,917
  • Jan 19, 2010 5:50am Jan 19, 2010 5:50am
Quoting ghous
1st Feb is the day my respite ends.
Hey bro, u just had your birthday... relax, take a day off from FF, will u?

btw, still have extra cakes? will the courier be able to dodge the random bomb blasts there? send one to me....


Quoting ghous
Lots of 'em
  • #51,918
  • Jan 19, 2010 5:55am Jan 19, 2010 5:55am
Quoting supremeChaos
Hey bro, u just had your birthday... relax, take a day off from FF, will u?

btw, still have extra cakes? will the courier be able to dodge the random bomb blasts there? send one to me....
Cakes are finished want a Bomb??
  • #51,919
  • Jan 19, 2010 5:56am Jan 19, 2010 5:56am
Quoting ghous
1st Feb is the day my respite ends.
Man... that's so lame... I expect you to skip class because it is interfering with your trading schedule....
  • #51,920
  • Jan 19, 2010 6:00am Jan 19, 2010 6:00am
Quoting nasir.khan
Cakes are finished want a Bomb??
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