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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

  • #57,981
  • Mar 11, 2010 2:52pm Mar 11, 2010 2:52pm
Quoting jspeakman
This thread is extraordinarily generous, massively informative, fun and occasionally downright weird (did I see a picture of a hog on here once -about the size of a house? - may be I dreamt that)

J
Well said J.
Indicators show the past. Price Action "Indicates" the future.
  • #57,982
  • Mar 11, 2010 2:57pm Mar 11, 2010 2:57pm
Quoting jarroo
Well said J.
haha you know its only a matter of time before someone digs up the House Hog - can anyone say J16 mascot
  • #57,983
  • Mar 11, 2010 2:58pm Mar 11, 2010 2:58pm
for good measure
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  • #57,984
  • Mar 11, 2010 3:00pm Mar 11, 2010 3:00pm
that is seriously big. i just watched a video on these things where they did actually dig one up.

Inserted Video
  • #57,985
  • Mar 11, 2010 3:04pm Mar 11, 2010 3:04pm
Quoting jarroo
Price could be consolidating at this level (because it is a great level) and may hang around for a while. which could be good so we can play a breakout of that consolidation either way.
speaking of breakouts. What are you doing here jarroo? I know you have to be thinking SOMETHING... enlighten me. please?
Attached Image
Many choose unhappiness over uncertainty.
  • #57,986
  • Mar 11, 2010 3:12pm Mar 11, 2010 3:12pm
Quoting mbqb11
for good measure
Yep that's the one - Nature Tours (formerly trading as Jurassic Park Enterprises)

J
  • #57,987
  • Mar 11, 2010 3:16pm Mar 11, 2010 3:16pm
Quoting jarroo
Yes that is a PB at a great location. The current weekly bar looks like it may close as an Inside Bar. Well have to wait until tomorrow's close on the Weekly to be sure.

We have a confluence of a few things that make it such a great location. Priority # 1 in a great PA setup: Location.

A PPZ level at a Big Round Number 1.5000, a Fib Ret. 61.8 and its at a swing low. What more can you ask for when it comes to location. Not much. lol

So now we need a solid trigger to show us the way. The PB could be better. Meaning the size could be bigger...
I'm sorry for a newbie question but what is PPZ?

If the curent weekly bar closes as inside bar what would it tell us? Would you enter long now or wait till next weeks bar?
  • #57,988
  • Edited 3:33pm Mar 11, 2010 3:18pm | Edited 3:33pm
Quoting Dan Gilbert
speaking of breakouts. What are you doing here jarroo? I know you have to be thinking SOMETHING... enlighten me. please?
hello Dan,

Everything is speaking about a breaking upwards,is just the same as usdchf,but upside down, which I was talking about it last week in this post:
http://www.forexfactory.com/showpost...ostcount=57428

look where we are today in relation with last week, the same is with the fiber.The break it will be sooner or later and I'm anticipating 1.4 -1.42 but this is speculating so I'll stop here.

hope it helps!

all the best!
  • #57,989
  • Mar 11, 2010 3:26pm Mar 11, 2010 3:26pm
Hey all,

This is one that I'm currently in and have just taken. A BEOB on the weekly chart straddling a PPZ on a BRN (8,500). For added confluence I like how today's and yesterdays bar highs were within one pip of each other so perhaps a sign of exhaustion / reversal.

With other major indices reaching historic highs I would like to think some risk sentiment will be taken off the table hence race towards JPY.

I'm short at 8,472 with SL just above 8,500. The trade has a bit of space to breath and my first target is 8,000. R:R = 1:16.5

Any comments?

Thanks.

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Click to Enlarge Name: CHF JPY 110310 W.JPG Size: 133 KB
  • #57,990
  • Mar 11, 2010 3:30pm Mar 11, 2010 3:30pm
Quoting triger88990
hello Dan,

Everything is speaking about a breaking upwards,is just the same as usdchf,but upside down, which I was talking about it last week in this post:
http://www.forexfactory.com/showpost...ostcount=57428
Sorry Trig, but the link you quoted takes me to 'Page Not Found'?

MP

  • #57,991
  • Mar 11, 2010 3:32pm Mar 11, 2010 3:32pm
Quoting Dan Gilbert
speaking of breakouts. What are you doing here jarroo? I know you have to be thinking SOMETHING... enlighten me. please?

lol I'm just hanging out on the thread watching a Hog video.
Indicators show the past. Price Action "Indicates" the future.
  • #57,992
  • Mar 11, 2010 3:35pm Mar 11, 2010 3:35pm
Quoting Mp1983
Sorry Trig, but the link you quoted takes me to 'Page Not Found'?

MP

try it again now it should work
  • #57,993
  • Mar 11, 2010 3:40pm Mar 11, 2010 3:40pm
Quoting jarroo
lol I'm just hanging out on the thread watching a Hog video.
ahahahaha... love it
Many choose unhappiness over uncertainty.
  • #57,994
  • Mar 11, 2010 3:41pm Mar 11, 2010 3:41pm
Quoting Mp1983
Hey all,

This is one that I'm currently in and have just taken. A BEOB on the weekly chart straddling a PPZ on a BRN (8,500). For added confluence I like how today's and yesterdays bar highs were within one pip of each other so perhaps a sign of exhaustion / reversal.

With other major indices reaching historic highs I would like to think some risk sentiment will be taken off the table hence race towards JPY.

I'm short at 8,472 with SL just above 8,500. The trade has a bit of space to breath and my first target is 8,000. R:R = 1:16.5

Any...
Hi mate,
correct me if i'm wrong, but there was a BEOB two weeks ago, which hasnt been broken. Am i missing something?

triger, are you still in the dow trade?
  • #57,995
  • Edited 3:45pm Mar 11, 2010 3:43pm | Edited 3:45pm
Quoting triger88990
try it again now it should work
Thanks Trig. Interesting analysis - lets see what the markets hold for us.

You obviously favour a short whereas on this pair I think 10,600 should hold as decent support for another bull rally.

All the best.

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Click to Enlarge Name: USD CHF 110310 D.JPG Size: 136 KB
  • #57,996
  • Mar 11, 2010 3:52pm Mar 11, 2010 3:52pm
Quoting GotPips
Hi mate,
correct me if i'm wrong, but there was a BEOB two weeks ago, which hasnt been broken. Am i missing something?

triger, are you still in the dow trade?
I do not trade the dow,just that we as smart traders observ things from others instruments like the futures contracts or index,and take advantage from the information that we have just grab, increasing odds in our favor when we take other trades

hope it helps!!
  • #57,997
  • Mar 11, 2010 3:54pm Mar 11, 2010 3:54pm
Quoting GotPips
Hi mate,
correct me if i'm wrong, but there was a BEOB two weeks ago, which hasnt been broken. Am i missing something?

triger, are you still in the dow trade?
Hey GotPips,

You are right in that it was the bar from two weeks ago which never broke. I took it as the R:R and location of it made it tradeable for me. Maybe one of the seniors can clarify what should be done in this instance?

In my eyes the PA from the BEOB has indicated that price has reversed as the previous price levels have been completely engulfed by the BEOB hence confirmation of price being rejected once already in the recent past. I hope that makes sense?

  • #57,998
  • Mar 11, 2010 3:57pm Mar 11, 2010 3:57pm
Quoting Mp1983
Hey GotPips,

You are right in that it was the bar from two weeks ago which never broke. I took it as the R:R and location of it made it tradeable for me. Maybe one of the seniors can clarify what should be done in this instance?

In my eyes the PA from the BEOB has indicated that price has reversed as the previous price levels have been completely engulfed by the BEOB hence confirmation of price being rejected once already in the recent past. I hope that makes sense?


Hey Mp

Well technically speaking that BEOB is not valid till the low breaks which it hasn't. Then the next week formed a pretty strong bullish inside bar. But with that siad if price is going to reverse and that beob has any chance of life it is pretty much at the area marked on your chart and we might see a reverse here. So the downside is not a valid bar yet and the other poitns above, but the upside is if it does kick in you have a pretty tight stop . So it depends on what angle you want to look at it from

Best
Mike
  • #57,999
  • Mar 11, 2010 4:10pm Mar 11, 2010 4:10pm
Quoting triger88990
I do not trade the dow,just that we as smart traders observ things from others instruments like the futures contracts or index,and take advantage from the information that we have just grab, increasing odds in our favor when we take other trades

hope it helps!!
aha ok cheers for the tip!

MP, it seems the swing low has met some resistence which goes back nov08-jan09. i hope it works out for you!
  • #58,000
  • Mar 11, 2010 4:10pm Mar 11, 2010 4:10pm
Thanks for the reply Mike.

How about this one on the NZD / CHF?

Ascending triangle with price repeatedly making higher lows
BRN
TL which is in tandem with the 200MA.

I remember one of Jim's earlier post stating that when price is caught up between the MA's and a S/R the breakout, when it occurs, is usually explosive.

Attached Image (click to enlarge)
Click to Enlarge Name: NZD CHF 110310 D.JPG Size: 137 KB
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