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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

  • #54,621
  • Feb 10, 2010 9:32pm Feb 10, 2010 9:32pm
Quoting stupotpat
I am honoured to have "confluence" with you Dan. I marked the area to go short last week, placed the order today
more than anything, the PPZ is strong... that is the most important feature.
Many choose unhappiness over uncertainty.
  • #54,622
  • Feb 10, 2010 9:55pm Feb 10, 2010 9:55pm
Quoting Dan Gilbert
I didn't originally want to post this pending limit order on this forum, but I'm going to do it anyway. I placed this order a LONG time ago and have been waiting and waiting for price to get here.

breakout trendline + STRONG PPZ @ .8850 + 61.8% FIB + 50% FIB + 150 EMA... and I dunno... I guess trend?


EDIT: this is EURGBP DAILY CHART
Hi Dan, I can see that you have placed a sell limit, looking for price to retrace to the previous support and then to bounce (changing support to resistance). But, wouldn't this be risky? I thought it would be better to wait for PA to confirm the bounce and then trade? (Newbie question, sorry.)
  • #54,623
  • Feb 10, 2010 9:59pm Feb 10, 2010 9:59pm
Quoting albertsy2
Hi Dan, I can see that you have placed a sell limit, looking for price to retrace to the previous support and then to bounce (changing support to resistance). But, wouldn't this be risky? I thought it would be better to wait for PA to confirm the bounce and then trade? (Newbie question, sorry.)
you can wait for PA, absolutely.... is it less risky to wait for PA? absolutely. My thing with this though, is that the area is SO strong, i want to take advantage of the very strong R/R ratio on a touch trade, and I have enough confidence on the zone to do so.


If it loses, oh well, 2% out of my account - on to the next one. If it wins, well I could catch a nice 5%-10% run on one trade. look at a weekly chart and place a horizontal line at .8850 - what do you see?
Many choose unhappiness over uncertainty.
  • #54,624
  • Feb 10, 2010 11:17pm Feb 10, 2010 11:17pm
Quoting triger88990
I have looked through my chart and see another beauty in which I'm already in but planned tu add more

don't stop love them

On the daily chart we have multiple matching low at 1.5711-16 a pure break of them is samrt but a breakout and pullback is even more smart for waiting

here is the 4h view:

after the break she pulled back and she give the "reason" to enter a BEOB, is not at swing high where we want to see them but here is the case where you can take them as a continuation.

Although is not that much in term of shape,befor the BEOB...
Simple isn't it Trig?
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I believe . . .
  • #54,625
  • Feb 10, 2010 11:20pm Feb 10, 2010 11:20pm
Quoting Dan Gilbert
you can wait for PA, absolutely.... is it less risky to wait for PA? absolutely. My thing with this though, is that the area is SO strong, i want to take advantage of the very strong R/R ratio on a touch trade, and I have enough confidence on the zone to do so.


If it loses, oh well, 2% out of my account - on to the next one. If it wins, well I could catch a nice 5%-10% run on one trade. look at a weekly chart and place a horizontal line at .8850 - what do you see?
It's so flogging hard to stay away from this family eh Dan?

Nice to have you (and your charts) back.
I believe . . .
  • #54,626
  • Feb 10, 2010 11:55pm Feb 10, 2010 11:55pm
Hello guys, I have been reading through the thread here and I think I have a possible PB setup forming on the U/J. If someone could take a quick look, I put a little arrow on the two bars that are/were possibilities...

Thank you so much for any advice and thank you to the gentleman that put the "pertinent post PDF" together. I printed that out at my office and am on my second read through.

Here are the charts:

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Thanks again for any help,

Donnie
  • #54,627
  • Feb 10, 2010 11:58pm Feb 10, 2010 11:58pm
Quoting uraceulose
Hello guys, I have been reading through the thread here and I think I have a possible PB setup forming on the U/J. If someone could take a quick look, I put a little arrow on the two bars that are/were possibilities...

Thank you so much for any advice and thank you to the gentleman that put the "pertinent post PDF" together. I printed that out at my office and am on my second read through.

Here are the charts:

Attachment
Attachment

Thanks again for any help,

Donnie
Hey Donnie

Technically speaking that is a beob, b/c it has a lower low then the previous bar, although it has that "pinbar" look. We can still analyze it either way just thgouht I would clarify for consistency purposes

The bar itself is at a great location as Jarroo said the 90 level I am watching like a hawk, but the bar itself is just not all that big. It encompasses 4hrs of pretty dead market time(asian/aud session) which can be seen by the bar size but also noted by the time it was formed. With that said I just would really love to see you looking for those big obvious bars as they will do so much more and area easier to find IMo. If we want to see where this is likely to go we can see massive amount of bar highs it is coming into(blue on my chart).

Hope this helps
Mike
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  • #54,628
  • Feb 11, 2010 12:01am Feb 11, 2010 12:01am
Mike,

Thank you so much for your advice. I will not place a trade and just keep watching.

Thank you again and take care,

Donnie
  • #54,629
  • Feb 11, 2010 12:02am Feb 11, 2010 12:02am
Anyone rode this with me?

I at first wanted to talk abt this on the weekend before I took it...but I am against passing along trade signals and manipulating novice minds, who need to be strictly on their own in judging the validity of the setup without any external influence.

Don't think there's much to say abt this one...round number...bla...bla...bla...

That's the best part about great trade setups, they don't make you think or talk or discuss much.

I have been extensively busy in trying to train my instincts to fire, they've got to learn to help me spot "a trade" or a "no trade"...there shouldn't be any "considerable setups"....they (the instincts) been good learners so far.

g.
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I believe . . .
  • #54,630
  • Feb 11, 2010 12:07am Feb 11, 2010 12:07am
Another cherry I am still busy 'sucking' on:

Will 7.27 hold? I sure as hell wish it won't, but I am not prepared to take things for granted.

What's SEK BTW?

g.
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I believe . . .
  • #54,631
  • Feb 11, 2010 12:16am Feb 11, 2010 12:16am
Quoting ghous
Another cherry I am still busy 'sucking' on:

Will 7.27 hold? I sure as hell wish it won't, but I am not prepared to take things for granted.

What's SEK BTW?

g.
swedish krona

If you just leave your mouse over the pair in market watch it will say
  • #54,632
  • Feb 11, 2010 12:17am Feb 11, 2010 12:17am
Here's a BE,

Conservative trading faces these 0 profit 0 loss trades quite a bit, but hey...no matter what that pin bar cries...I am aware I am in the middle of a choppy battle field. If price had found meaning in the first trouble area (never mind it's minor nature) which it does often in range bound markets...I am not paying for a silly mistake. Let alone the relief you get when you know "you've everything to gain and nothing to loose from the free ride"

g.
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I believe . . .
  • #54,633
  • Feb 11, 2010 12:17am Feb 11, 2010 12:17am
Quoting mbqb11
swedish krona

If you just leave your mouse over the pair in market watch it will say
Pardon me Mike
I believe . . .
  • #54,634
  • Feb 11, 2010 12:18am Feb 11, 2010 12:18am
Quoting ghous
Pardon me Mike
  • #54,635
  • Feb 11, 2010 1:08am Feb 11, 2010 1:08am
Anybody else take this AUD/NZD double inside bar? Really wound up nice and shot up to my target in the same 15 min. bar it broke!

This was my first trade this week, out around .2690 with about 1/4 running just in case.

Cory
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  • #54,636
  • Feb 11, 2010 1:30am Feb 11, 2010 1:30am
Hi all,

Just wondering whether any traders have been examining the gj of late ?

I must admit I am an infrequent poster here, yet I thought I would post this set up for comment
triple top at 140.40 give or take 3 pips
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Without women, money would have no meaning - Aristotle Onassis
  • #54,637
  • Feb 11, 2010 1:34am Feb 11, 2010 1:34am
Been focussing onnly on the dailies this week and taken 4 trades...all stops moved to BE now.
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  • #54,638
  • Feb 11, 2010 2:18am Feb 11, 2010 2:18am
Quoting lovejoy80
Been focussing onnly on the dailies this week and taken 4 trades...all stops moved to BE now.

Very nice trades there lovejoy
Learning to be rigid in my rules & flexible in my expectations
  • #54,639
  • Feb 11, 2010 2:24am Feb 11, 2010 2:24am
Hey, Jim!

Charts for You:Small blue lines as entry.
It s a 4H BEOB (or any bearish break) break on EU showing it, on smaller TFs, initial SL 45p. Break +5p, You are in.
Case 1,: It s a trade You would call A++++. Would You close it on the retrace, against You, or stick to the original SL?

Case 2,: De ja vu on smaller TFs, what show the break, but this time the 4H BEOB is just A or A-.
Q is the same.
THX, PH
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  • #54,640
  • Feb 11, 2010 2:37am Feb 11, 2010 2:37am
Quoting Cbh123
Anybody else take this AUD/NZD double inside bar? Really wound up nice and shot up to my target in the same 15 min. bar it broke!

This was my first trade this week, out around .2690 with about 1/4 running just in case.

Cory

Good for you, Cory
Do you mind telling us where your entry and your SL was?

CY
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