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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

  • #53,221
  • Jan 28, 2010 2:34pm Jan 28, 2010 2:34pm
I opened my indices and somehow thought benji would like this

http://content.screencast.com/users/...DJI%20SPOT.png

Wow I've just noticed seekinglight's charts are much-much more easier for me to read now... Thank you for the slap in the face sir
  • #53,222
  • Jan 28, 2010 2:37pm Jan 28, 2010 2:37pm
Quoting dobe_r_man
Just make sure you realize if you plan on playing the the gbp/chf pin as well these pairs typically act in mirror images to a high degree. In other words, if the gbp/chf pin doesn't work out there is a good chance you get stung on the Eur/Gbp as well. Naturally this works great if they both win, but it is good to at least recognize this.

Nathan

Thanks Nathan. I had my eye on GBP/CHF as well. I was just trying to see which one looks better and has more space. Both can work nice, I would say.

Good luck!
  • #53,223
  • Jan 28, 2010 2:41pm Jan 28, 2010 2:41pm
Following this ...

Done my part by getting a good sell entry. Now all I can do is sit tight and watch price do its thing while I enjoy the ride.
  • #53,224
  • Jan 28, 2010 2:45pm Jan 28, 2010 2:45pm
Quoting FXMaecenas
Thanks Nathan. I had my eye on GBP/CHF as well. I was just trying to see which one looks better and has more space. Both can work nice, I would say.

Good luck!
Personally I like gbp/chf better (other than being the fourth test of 1.7000). With Eur/gbp there is a fairly strong ppz around the .87 to .8730 area which isn't very high above the break of the pin.

Only after the fact we will know for sure, but for capital reasons I am sticking to just one. Alternatively you could risk 1/2% on each pair (if you normally risk 1%) as well.

Nathan
  • #53,225
  • Jan 28, 2010 2:53pm Jan 28, 2010 2:53pm
I have been studying orderflow recently and thought I might share something for added confluence for our trades confirmation, it's helping me more I think because for me sharing and public documentation/presentation is the best learning experience for me, but that's just me.

Actually I was surprised to see that nobody posted the CADCHF chart, everyone seems to be looking at GBPCHF which didn't produce a good enough PA in my fxpro feed.

I think this setup is almost similar to mike's breakout technique, the only difference is that this breakout+retest is horizontal and the retest took more time, I've always had difficulties in drawing trendlines so I'm more comfortable viewing price from this prespective, I'm still learning how to use trendlines that suits my style.
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  • #53,226
  • Jan 28, 2010 3:04pm Jan 28, 2010 3:04pm
interesting areas for gold , S&P and DJI ...
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  • #53,227
  • Jan 28, 2010 3:08pm Jan 28, 2010 3:08pm
Quoting marcelnyo
I have been studying orderflow recently and thought I might share something for added confluence for our trades confirmation, it's helping me more I think because for me sharing and public documentation/presentation is the best learning experience for me, but that's just me.

Actually I was surprised to see that nobody posted the CADCHF chart, everyone seems to be looking at GBPCHF which didn't produce a good enough PA in my fxpro feed.

I think this setup is almost similar to mike's breakout technique, the only difference is that this breakout+retest...
Not a pair I follow, but a great setup there, easy pips
  • #53,228
  • Jan 28, 2010 3:20pm Jan 28, 2010 3:20pm
Quoting marcelnyo
I have been studying orderflow recently and thought I might share something for added confluence for our trades confirmation, it's helping me more I think because for me sharing and public documentation/presentation is the best learning experience for me, but that's just me.

Actually I was surprised to see that nobody posted the CADCHF chart, everyone seems to be looking at GBPCHF which didn't produce a good enough PA in my fxpro feed.

I think this setup is almost similar to mike's breakout technique, the only difference is that this breakout+retest...
hey marcelnyo,
i saw this trade earlier but passed simply because the nose wasnt long enough for me & it seemed to be sitting on support...
like your charts btw
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Simplicity is the key to success
  • #53,229
  • Jan 28, 2010 3:26pm Jan 28, 2010 3:26pm
everyone seems to be talking about gbpchf daily pin,
this is how i see it
the more confluence the better
cheers guys
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Simplicity is the key to success
  • #53,230
  • Jan 28, 2010 4:01pm Jan 28, 2010 4:01pm
Quoting marcelnyo
Wow I've just noticed seekinglight's charts are much-much more easier for me to read now...
Thanks!
Although I do hope I've already posted some charts at least as clean as these recent ones over time.

They still have a bit of clutter, but I don't have a "presentation version" of every chart I save / chart out, so sometimes there's only a "as I use it" edition, and that can get a bit overdone compared to the clean edit

I do try hard to minimize clutter and to leave out as much unecessary info as I can..if you are trying to visually convey information, anything not pertinent to the situation / setup at hand just adds confusion / distraction.
Trust price. Know yourself.
  • #53,231
  • Jan 28, 2010 4:01pm Jan 28, 2010 4:01pm
Quoting dobe_r_man
Personally I like gbp/chf better (other than being the fourth test of 1.7000). With Eur/gbp there is a fairly strong ppz around the .87 to .8730 area which isn't very high above the break of the pin.

Only after the fact we will know for sure, but for capital reasons I am sticking to just one. Alternatively you could risk 1/2% on each pair (if you normally risk 1%) as well.

Nathan
I have to admit that I didn't zoom out enough to see the activity before the last big wave on the daily chart. You are right. A pretty ugly area there, especially since areas tend to be extremely strong when the price comeback after such a wave.

GBP/CHF is better, I agree.

Best wishes.
  • #53,232
  • Jan 28, 2010 4:14pm Jan 28, 2010 4:14pm
Quoting FXMaecenas
Hi Jarroo,

Thanks for your answer. Before your answer I entered at 1.0590 so your reply was a confirmation.

So the next question is how did you manage this one? Stop loss above the IB or above the 1.0700, moved to break even quickly and/or took partial profits?

I believe you were looking for the bottom of the BUB from Jan. 26th. pretty close to a hit on that one.
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Indicators show the past. Price Action "Indicates" the future.
  • #53,233
  • Jan 28, 2010 4:19pm Jan 28, 2010 4:19pm
Quoting SeekingLight
I really want to post something again, but looking over my recent trades and considering them under the criteria of "preferably simple, picky and ideal, without overcomplication" I am kind of coming up mostly empty

Almost everything now seems to have a "considering market x, I was expecting y to do this, and it did just that, so in turn.." component
(I like using "cross market confluence" if it's available)


//trailing off into a small rant here//
And those that don't aren't picture perfect "wonderful, clean setup" trades. Or...

Hey Seeking. Comes out from the shadows and into the Light. (Just kidding. )

Great post and charts my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #53,234
  • Jan 28, 2010 4:19pm Jan 28, 2010 4:19pm
Quoting jarroo
So the the next question is how did you manage this one? Stop loss above the IB or above the 1.0700, moved to break even quickly and/or took partial profits?

I believe you were looking for the bottom of the BUB from Jan. 26th. pretty close to a hit on that one.
I have been staring at this chart. It really is intriguing me as a breakout + pullback combo. I don't know if I can get myself to pull the trigger on it , with friday coming tomm, I am reluctant to just stay out lol



Mike
  • #53,235
  • Jan 28, 2010 4:28pm Jan 28, 2010 4:28pm
Quoting mbqb11
I have been staring at this chart. It really is intriguing me as a breakout + pullback combo. I don't know if I can get myself to pull the trigger on it , with friday coming tomm, I am reluctant to just stay out lol



Mike
That bullish PB is making you with the 1.7000 right there yet the 1.1000 not so far away. I see what you mean.
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Indicators show the past. Price Action "Indicates" the future.
  • #53,236
  • Jan 28, 2010 4:36pm Jan 28, 2010 4:36pm
Quoting mbqb11
THis one is close. Everything is looking topish or bottomish so it could very well turn temporarily

This post is why I manage a trade tightly when all the confluences are not all "Yes". Meaning . . .location good, Yes. Size small (of PA) not good, No.
Indicators show the past. Price Action "Indicates" the future.
  • #53,237
  • Jan 28, 2010 4:42pm Jan 28, 2010 4:42pm
Quoting jarroo
That bullish PB is making you with the 1.7000 right there yet the 1.1000 not so far away. I see what you mean.
Well I actually look at breakout and pullbacks different then my stanard trades. I am less pick on PA, and then I tend to let it go, b/c if I am right and this is a "breakout" then price should take off and not come back under that pin

Interesting

Mike
  • #53,238
  • Jan 28, 2010 4:45pm Jan 28, 2010 4:45pm
Quoting marcelnyo
Actually I was surprised to see that nobody posted the CADCHF chart, everyone seems to be looking at GBPCHF which didn't produce a good enough PA in my fxpro feed.
i saw this on the daily. big pin bar. i was in this trade from BEOB a few days back. Price struggled to get through 9800 on 3 attempts and i got stopped for a few pips. For this pin though (on daily) it seems too close to the 9800 level.

That's just what i see.
  • #53,239
  • Jan 28, 2010 4:48pm Jan 28, 2010 4:48pm
Quoting mbqb11
Well I actually look at breakout and pullbacks different then my stanard trades. I am less pick on PA, and then I tend to let it go, b/c if I am right and this is a "breakout" then price should take off and not come back under that pin

Interesting

Mike
I see. I think the chart is telling you that you are correct. Which is good because I'm still long from 1.0300. lol
Indicators show the past. Price Action "Indicates" the future.
  • #53,240
  • Jan 28, 2010 4:50pm Jan 28, 2010 4:50pm
Both the ucad and uchf have drifted into abyss.

Ucad presented a nice opportunity for a long @ 1.0560 in the wee morning hours while I was asleep, dreaming of green pastures and little bunnies. Nice bounce off the bullish TL starting @ January 21st. (4th consistent major touch) It is a significant trend line now.

A nice break of that, following the major upper bearish TL would be a nice indication to short.


Personally wish I would have hung on to my long from 1.0250.. lol. Me and my damn intraday..
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lowest draw down possible please.
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