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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

  • #59,141
  • Mar 25, 2010 1:53pm Mar 25, 2010 1:53pm
Quoting squeezy
not sure i understand nasir, do u mean as its playing around 92 now....
looking at the previous bullish bar which is BIG`about 100pips, i would be cautious about any reversal, only if price takes a breather around 92 then makes higher high (asia shld probably slow things down giving false signals) & then some good pa to short back to my area of interest.
ive been thinking of swearing off reversals only if i get a nice BIG size & shape PA to short.
hope i wasnt off point cos i didnt really...
now that these have already happened , lets see if the rest of my predictions occur, itll be fun to watch guys
Simplicity is the key to success
  • #59,142
  • Mar 25, 2010 1:59pm Mar 25, 2010 1:59pm
Quoting Dan Gilbert
that's an interesting chart you posted...

I saw this squeeze pattern, analysis is below....
i sold not bought gchf, and Mike's 1.6 BRN + downtrend + good size & shape pin gave me my signal,only -ve would be the sideways mkt
Dan, im jealous man....your charts look good
cheers
Simplicity is the key to success
  • #59,143
  • Edited 5:34pm Mar 25, 2010 2:19pm | Edited 5:34pm
Quoting PeterPan
I have put in a sell stop on the AUD CAD, descending triangle. Entry below support line.

Any feedback?

Just thought I start posting some of my trades and get some constructive criticism.
AUDCAD has been winding up for a while.

I bring good news in regards to AUDCAD!

I will say that there may be even tighter consolidation on the daily, and even the 4hr before this thing finally pops out. I'm going to watch all time frames on this one next week. Should be an interesting calm before storm
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Many choose unhappiness over uncertainty.
  • #59,144
  • Mar 25, 2010 3:03pm Mar 25, 2010 3:03pm
Quoting Dan Gilbert
Should be an interesting calm before storm
Thank you for the heads up on this one Dan. You go from strength to strength! That is quite an interesting triangle on the weekly. Shame it's the two of the strongest currencies at the moment. Does it make a difference? I don't know.
Gone to a better place
  • #59,145
  • Mar 25, 2010 3:26pm Mar 25, 2010 3:26pm
Quoting The Captain
Thanks Dude!
Yea it is cool to have over 130 different chars in your watch list when you trade only dailies and weeklies. It is much more easier to be picky and still have a reasonable number of opportunities going on.

I am still new to anything that is not forex. But I guess I will eventually become acclimatized with the different conditions like gaps and activity hours.

Here are a few good setups. Why not taking them and go do other things instead of chasing after the market all day?
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  • #59,146
  • Mar 25, 2010 3:31pm Mar 25, 2010 3:31pm
Quoting smikester
Thank you for the heads up on this one Dan. You go from strength to strength! That is quite an interesting triangle on the weekly. Shame it's the two of the strongest currencies at the moment. Does it make a difference? I don't know.
I think we would be good for a run down the 150/365 ema on the weekly at least.....
Many choose unhappiness over uncertainty.
  • #59,147
  • Edited 4:06pm Mar 25, 2010 3:38pm | Edited 4:06pm
Quoting Dan Gilbert
you have a junky GBPUSD 4hr pin on ibfx... it broke pretty hard though..
Wasn't trading that chart. Added that one to show what was happening when you zoomed out.

Sorry, should have labelled the chart to stop from confusing some of the newer guys and gals too. That did look like I was looking at that bar, now that you mentioned it.

More about location, location this trade, though.
Bundy's status today: "Waiting..."
  • #59,148
  • Edited 4:06pm Mar 25, 2010 3:52pm | Edited 4:06pm
Quoting The Captain
GBPJPY is bouncing pretty hard off the trendline with a triple top on the M15.

(Sorry Jarroo you had the nicest looking charts I`ve ever seen and couldn`t help but copy them)
Nice chart Captain. Too many wiggly lines, but if they work for you, great.

I like the longer term MAs (365, 200, and 150 emas) for confluence with PPZ levels and PA itself. You don't want to have so many MAs that you can't even see Price.

Just some thoughts,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #59,149
  • Mar 25, 2010 4:15pm Mar 25, 2010 4:15pm
Quoting jarroo
Nice chart Captain. Too many wiggly lines, but if they work for you, great.

I like the longer term MAs (365, 200, and 150 emas) for confluence with PPZ levels and PA itself. You don't want to have so many MAs that you can't even see Price.

Just some thoughts,

Jim
Thanks Jim. Those are the 3 I use, plus the 50sma and 50ema. Not quite as important but very often the price plays off the 50`s very nicely. I try to make them light colours so they dont get in the way. Its always a debate for me whether to have the 50s or not. Thanks for the tips. Take care!
Cap
  • #59,150
  • Mar 25, 2010 4:18pm Mar 25, 2010 4:18pm
Quoting benji533
Yea it is cool to have over 130 different chars in your watch list when you trade only dailies and weeklies. It is much more easier to be picky and still have a reasonable number of opportunities going on.
print it and live it.
  • #59,151
  • Mar 25, 2010 4:24pm Mar 25, 2010 4:24pm
Closing in on 4000 pages and 60,000 posts.

Hard to believe.

Thanks to all of you, old and new.

Jim
  • #59,152
  • Mar 25, 2010 4:26pm Mar 25, 2010 4:26pm
Quoting The Captain
Thanks Jim. Those are the 3 I use, plus the 50sma and 50ema. Not quite as important but very often the price plays off the 50`s very nicely. I try to make them light colours so they dont get in the way. Its always a debate for me whether to have the 50s or not. Thanks for the tips. Take care!
Draw in your PPZ levels or strong Support and/or Resistence levels and see if Price is reacting to those levels or your MAs. More then likely they are reacting to the PPZ levels.

Just something to help you in your debate.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #59,153
  • Mar 25, 2010 4:36pm Mar 25, 2010 4:36pm
Some thoughts about fiber.

Althought there are many people who expect eur to recovery despite Greek financial crisis, many investors where cought in this fade breakout(see chart) trying to push their luck by overcome a positive outcome for euro zone.


The overall sentiment is bearish if you have a an open mind and reasonably clear sight to loock at chart. I'm in opinion that Greece will bailout but is just not the time yet,it's a metter of how and when, till then I can't see a base where this sell of can end.


This drop that we are dealing with,from the begining of the year,is the same as what heapened in 2008 when it fell off the cliff so fast it had some voilent spikes up.


Here is what I found some pattern (see picture below) which it seems repeat itself.

For several days we heaven't any clear direction of the market,the price struggling in to a sideway range. No one would risk their money under such environment, but price could not rest for ever there and the more time it spend in sideway the more pressure it will accumulate(remember the analogy with the balloon). Taken that in consideration we would expect to see a heavy and a hard break.

She did break upwords(number 1 purple) but ask yourself who would buy knowing that the overall sentiment is bearish.From where would we know that this break is sustained by real buyers who are really buying,

obviously from charts, the next candle (number 2 purple) it will tell us if there are really fresh buyers there. Note that candle has the equal momentum as the bar-break signaling that this move is a fade breakout and there are no buyers there, just some stops taken out and new sellers coming in to the market.

And now the pressure is inverted to the downside look at the big rally drop base.

I made some coments about the fiber a month ago in this post:
http://www.forexfactory.com/showpost...ostcount=54932

down you will see a update of the weekly chart, I will keep updating this chart

PS: those are just my thoughts, I may be worng on them but I'm trying to read the market looking at the overall sentiment.

all the best!!

hope you enjoy it

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  • #59,154
  • Mar 25, 2010 4:45pm Mar 25, 2010 4:45pm
Quoting triger88990
Some thoughts about fiber.

Althought there are many people who expect eur to recovery despite Greek financial crisis, many investors where cought in this fade breakout(see chart) trying to push their luck by overcome a positive outcome for euro zone.


The overall sentiment is bearish if you have a an open mind and reasonably clear sight to loock at chart. I'm in opinion that Greece will bailout but is just not the time yet,it's a metter of how and when, till then I can't see a base where this sell of can end.


This drop that we are dealing...
Wow . . good stuff there triger. Very nice.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #59,155
  • Mar 25, 2010 4:49pm Mar 25, 2010 4:49pm
HI Guys,

I like many others have been following the work of James and it has been great for me and I have got nice results. However, I have a question. How I would manage the news with this method or I wouldnt have it present when I take a trade.

Thanks for your comments

Sergio
  • #59,156
  • Mar 25, 2010 4:49pm Mar 25, 2010 4:49pm
Quoting james16
Closing in on 4000 pages and 60,000 posts.
http://pwbeat.publishersweekly.com/b...utler_300b.jpg
Many choose unhappiness over uncertainty.
  • #59,157
  • Mar 25, 2010 4:52pm Mar 25, 2010 4:52pm
Hi everyone,

Could anyone tell me how to utilise the script available for MT4 for which you can go back to a certain date in the past and trade 'live'.

Thanks,


Quoting lovejoy80
I don't monitor this pair, but that's as easy it as it gets in terms of a setup...you can set the entry, stoploss and take profit and walk away with the knowledge that you have a high chance of returning at some point with pips in the bank.

I would highly recommend that anyone beginning their venture of trading price action setups go back over their charts and look at previous setups and identify where the first trouble area is - do this over and over again so it becomes second nature. Keeping a record off this is a good idea IMO too i.e. noting...
  • #59,158
  • Mar 25, 2010 5:04pm Mar 25, 2010 5:04pm
Quoting james16
Closing in on 4000 pages and 60,000 posts.

Jim
Nice BRNs!
  • #59,159
  • Mar 25, 2010 5:04pm Mar 25, 2010 5:04pm
AUSSIE

I was waiting for it for several days

Remember always look to the left when you make a decision(orange box)

Price just broke an upper TL that sustained this up move. Now from where do we know that this move is something reliable and not a fade breakout.
Next bar is signaling that there are fresh sellers there,we see a clear rejection,but remember you must be aware of the overall context of this trade and all the variable to be taken in consideration


The low of the PB equal the previous low so we havea a "combo"
TBL + Inside PB.

Another think that we must be aware,is where - is the first critical spot area remember This is critical from james:

http://www.forexfactory.com/showpost...ostcount=15568

we need here a really hard break aka jaroo


This is not a recommendation for trade and is pretty obvious that we do not play PB's in such approach.

all the best!

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  • #59,160
  • Mar 25, 2010 5:07pm Mar 25, 2010 5:07pm
Quoting jarroo
Wow . . good stuff there triger. Very nice.

Jim
thank you Sir
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