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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

  • #57,561
  • Mar 8, 2010 8:07am Mar 8, 2010 8:07am
Quoting KissFan
There ae some good trades setting up early this week. Here is one. I will look for shorts here at the weekly 38.2 fib area (1.0745 area). I'll post another chart when the appropriate price action forms on 1 hr or 4hr.

K.I.S.S.
  • #57,562
  • Edited 8:44am Mar 8, 2010 8:22am | Edited 8:44am
I got one on the radar also kissfan.BRD 140.00, FIB 61.8,with trend.A pullback to former support.Will see if devergence shows up also.Just waiting to see if the market wants to make it back up there and give me a signal.

P.S haven't posted a chart in ages,anyone know why it is so hard to see till you enlarge it?
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  • #57,563
  • Mar 8, 2010 8:34am Mar 8, 2010 8:34am
How pretty is this if we get a close as such. This already closed primetime on the 30 minute and now I really want to see the hourly close just as well.

The fib levels are from the weekly pin bar, you guys know how much I love the 50% fib level.
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I dream, therefore I become.
  • #57,564
  • Mar 8, 2010 8:36am Mar 8, 2010 8:36am
Quoting KissFan
There are some good trades setting up early this week. Here is one. I will look for shorts here at the weekly 38.2 fib area (1.0745 area). I'll post another chart when the appropriate price action forms on 1 hr or 4hr.

K.I.S.S.
Hi Kiss,
I am having trouble to spot 1.0745 area as your weekly 38.2 fib. Could you post a chart? Thanks.


CY
  • #57,565
  • Mar 8, 2010 8:44am Mar 8, 2010 8:44am
Quoting KissFan
There are some good trades setting up early this week. Here is one. I will look for shorts here at the weekly 38.2 fib area (1.0745 area). I'll post another chart when the appropriate price action forms on 1 hr or 4hr.

K.I.S.S.
kiss here is your PA -off of 50 fib enjoy it

I took it only on the demo account just for fun

I'm enjoying other trades for the moment

all the best!!

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  • #57,566
  • Mar 8, 2010 9:03am Mar 8, 2010 9:03am
Quoting mike w
How pretty is this if we get a close as such. This already closed primetime on the 30 minute and now I really want to see the hourly close just as well.

The fib levels are from the weekly pin bar, you guys know how much I love the 50% fib level.

Which direction?
  • #57,567
  • Mar 8, 2010 9:09am Mar 8, 2010 9:09am
Hi guys, how would you rate the location of this bearish PA on the AUD USD pair (both daily and H4 TFs).

Thanks for your help.
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  • #57,568
  • Mar 8, 2010 9:18am Mar 8, 2010 9:18am
Quoting ertorque
Hi Kiss,
I am having trouble to spot 1.0745 area as your weekly 38.2 fib. Could you post a chart? Thanks.


CY

I did post a chart can you see it now on my post? Or are you asking how I came up with the fib level?

K.I.S.S.
  • #57,569
  • Mar 8, 2010 9:20am Mar 8, 2010 9:20am
Quoting triger88990
kiss here is your PA -off of 50 fib enjoy it

I took it only on the demo account just for fun

I'm enjoying other trades for the moment

all the best!!

Attachment

Thanks triger! I am going to wait for a 1 hr or 4hr signal. This will be a longer term short for me based on the way the weekly closed.

K.I.S.S.
  • #57,570
  • Mar 8, 2010 9:28am Mar 8, 2010 9:28am
Quoting KissFan
I did post a chart can you see it now on my post? Or are you asking how I came up with the fib level?

K.I.S.S.
Sorry but the chart that you posted earlier was an hourly chart (the fib levels were barely visible there). Because you mentioned 1.0745 area was the 38.2 Fib level of the Weekly chart, I then started to checked the weekly chart but could not draw fib levels such that 38.2 coincides with 1.0745 and hence my question in my previous post.

Am I missing something here or have I misunderstood certain concepts regarding fib levels? Appreciate your clarifications for a newbie.

CY
  • #57,571
  • Mar 8, 2010 9:32am Mar 8, 2010 9:32am
Quoting ertorque
Sorry but the chart that you posted earlier was an hourly chart (the fib levels were barely visible there). Because you mentioned 1.0745 area was the 38.2 Fib level of the Weekly chart, I then started to checked the weekly chart but could not draw fib levels such that 38.2 coincides with 1.0745 and hence my question in my previous post.

Am I missing something here or have I misunderstood certain concepts regarding fib levels? Appreciate your clarifications for a newbie.

CY
I believe he is drawing the fib from the high on 2/19/2010 of 1.0897 and the low of 3/3/2010 of 1.0648 area. It pretty much lines up exactly with the fib he has marked on his chart.

Nathan
  • #57,572
  • Mar 8, 2010 9:51am Mar 8, 2010 9:51am
Quoting ertorque
Sorry but the chart that you posted earlier was an hourly chart (the fib levels were barely visible there). Because you mentioned 1.0745 area was the 38.2 Fib level of the Weekly chart, I then started to checked the weekly chart but could not draw fib levels such that 38.2 coincides with 1.0745 and hence my question in my previous post.

Am I missing something here or have I misunderstood certain concepts regarding fib levels? Appreciate your clarifications for a newbie.

CY
Nathan is correct. I apologize for the misunderstanding. I trade by pulling fibs from theweekly and monthly and I look for PA in the areas.

K.I.S.S.
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  • #57,573
  • Mar 8, 2010 10:08am Mar 8, 2010 10:08am
bundyraider said;

Hi Bap. http://cdn.forexfactory.com/images/s.../yim/happy.gif

Try changing to a line chart momentarily and then draw a line from the last peak. http://cdn.forexfactory.com/images/s...im/winking.gif

...That's something I'm always aware off myself, anyway.

Bundyraider ;
WOW I never saw that b4 and this ain't my first rodeo.
It was impressive enough on what I was asking about but when I looked at some historic data, man. Now I know what I am doing this weekend. There are 136 post on FF about " line graphs".

bundyraider said
Besides that though, not every trade is going to work out no matter how good the signal is. That's why we don't risk 100% on every great signal eh? http://cdn.forexfactory.com/images/s...im/winking.gif

bundy:
Amen to that. I was in a perfectly good long on the GBP/JPY last Thursday when somebody at Prudential UK (I believe) felt the need to dump 20 some billion. My stop was gaped by about 30 pips.
As they say "the best laid plans of mice and men"

Thanks for the tip on line graphs. That's another kindness I need to pass forward.
  • #57,574
  • Mar 8, 2010 10:41am Mar 8, 2010 10:41am
Quoting triger88990
Mike this is for you, I know you are in this trade your speciality,I miss it, forgot to set some alarms to aware me. The close was above 0.7 this was a huge addon


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Hey T

That is a bit of a stretch for me for the PA. I am watching the .7000 area and it is nice that it has breakout+ pullback possibilities. But I need something better to be getting in. Generally speaking I only trade breakouts with the trend, but now that price is hovering a confluenced area I am just sitting back and watching if it tips its hand.

Have a great week
Mike
  • #57,575
  • Mar 8, 2010 10:47am Mar 8, 2010 10:47am
Quoting snooptym
Hey guys I've been a lurker for the past 2 weeks. Trying to absorb as much of the great info here as possible. I've been trading for awhile now but recently started learning about price action and I think I've found my niche. This stuff is great. I think I'm getting the hang of it. Just wanted to say thanks to Jarroo for his last few posts. I've really been able to learn quite a bit from you. I hope I can bounce a few ideas off all of you in the future.
Hey Snoop

Welcome, start from Post 1(lots of great links there), and start going through the early parts of this thread. You will really enjoy it

Best
Mike
  • #57,576
  • Mar 8, 2010 11:54am Mar 8, 2010 11:54am
Thanks Mike. I've read through a lot of the material so far and it's been eye opening. It's amazing how something can be starring you straight in the face for so long and you never see it until someone points it out to you. The information here is great I just want to say thanks! I look forward to learning more everyday and hopefully someday soon contributing my thoughts and experience too.
  • #57,577
  • Mar 8, 2010 12:05pm Mar 8, 2010 12:05pm
With all this trend talk going on here lately. I was wondering what time frame you guys put more weight on when determining the trend. For example, if you were trading the hourly, would you just look at the trend just on the hourly and go from there, or would you jump to a higher time frame (4h, daily, etc..) and look at the trend from that angle?
  • #57,578
  • Edited 12:46pm Mar 8, 2010 12:30pm | Edited 12:46pm
Quoting sir6
With all this trend talk going on here lately. I was wondering what time frame you guys put more weight on when determining the trend. For example, if you were trading the hourly, would you just look at the trend just on the hourly and go from there, or would you jump to a higher time frame (4h, daily, etc..) and look at the trend from that angle?
Regardless of ALL else, I watch for The Daily Breaking The Monthly & Add to my convictions when The Weekly also breaks The Monthly. (we're talking Closes here )

All else, in my consideration, is treated as an Intraday Scalp in which I cannot (should not) apply my Standard Trade Management Rules OR a Trend Continuation Trade.

You've heard it a hundred times but it probably takes a thousand to sink in.
The Training Ground is located in the Higher Timeframe Charts.
If you are currently thinking...
"That's all fine for those Other guys but I want to get at it quickly..." STOP.

Skilled Tradesmen Smoke Pipes. (slow but deliberate)
Skilled Traders 'Totally' have a grip on Long Term...

For KISS & StoPro & anyone else that knows what I'm thinking about.
The Center Diagonals of the 3 ICCE I plotted are Parabolic. Something has to give but wait for PA indications.
Daily GBPCHF
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Under the Scope...
15Min GBPCHF
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  • #57,579
  • Mar 8, 2010 1:10pm Mar 8, 2010 1:10pm
Hi guys, watching the weekly "pin" on cable and wondered how long one should wait for it to break the high (1.5202) before you think about entering? since this is on the weekly, my assumption is that we have till EOD friday for confirmation?
  • #57,580
  • Mar 8, 2010 1:41pm Mar 8, 2010 1:41pm
Quoting GotPips
Hi guys, watching the weekly "pin" on cable and wondered how long one should wait for it to break the high (1.5202) before you think about entering? since this is on the weekly, my assumption is that we have till EOD friday for confirmation?
Hey Pips

In general the thing with any bar is that it is only validated once it breaks, and only invalidated once the other side is breached. So technically you could leave it for however long this takes to happen. I personally with any bar(in general) wait till that next bar breaks(this is my measure of momentum). So for this weekly bar if I was going to enter I would give it one week to break like you said above.

Best
Mike
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