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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

  • #59,861
  • Apr 2, 2010 12:35pm Apr 2, 2010 12:35pm
Quoting mbqb11
phewww I slept in extra late and was hoping you all did the same


Just wishing everyone a very nice long weekend!


Mike
you sleep?
Many choose unhappiness over uncertainty.
  • #59,862
  • Apr 2, 2010 12:59pm Apr 2, 2010 12:59pm
Quoting Dan Gilbert
you sleep?
yep but he does have this ability to answer our posts while sleeping.

who knows if he posted this last post while sleeping. ;p
  • #59,863
  • Apr 2, 2010 1:36pm Apr 2, 2010 1:36pm
I think the USD CHF weekly is interesting.

Any thoughts were you would enter.

Do you wait for the weekly pin to break or do go on today's close?

P
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  • #59,864
  • Apr 2, 2010 1:58pm Apr 2, 2010 1:58pm
Quoting nasir.khan
yep but he does have this ability to answer our posts while sleeping.

who knows if he posted this last post while sleeping. ;p
hes like chuck norris then
Quote
''Chuck Norris does not sleep. He waits.''
  • #59,865
  • Apr 2, 2010 2:03pm Apr 2, 2010 2:03pm
If you see EURAUD, it made high and then free fall , EURGBP is in same situation, can this happen to EURGBP?
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  • #59,866
  • Apr 2, 2010 2:18pm Apr 2, 2010 2:18pm
Quoting lovejoy80
I dont take many weekly setups...but decided to take this setup on SGD/JPY on Monday. BUOB over PPZ and BRN, moved to BE @ FTA and about to take half profit and move other half to just under FTA.

Normally, when I see a setup like this I will scroll down the lower time frames and wait for some PA to confirm the move and thus can get in with less risk and more potential reward...but this is not a pair I look at intraday (I have a hard enough time focusing on the pairs I do without adding another one to the mix!) so happy to take the weekly setup....
Nicely done here LJ

The key I am always thinking no matter what type of bar or location is to always be trading AWAY from the PPZ rather then into. That has saved me the most over the years. Makes it much more difficult to manage into them.

Best
Mike
  • #59,867
  • Apr 2, 2010 5:15pm Apr 2, 2010 5:15pm
small loss and currently LONG

wired $500 of my tax return into an account today. How far will it get me? Time reveals all things...
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  • #59,868
  • Apr 2, 2010 5:38pm Apr 2, 2010 5:38pm
Quoting ppfx
hes like chuck norris then
did you know chuck norris is 70??!!!

He has got to be the healthiest looking 70 yr old I have seen....
Many choose unhappiness over uncertainty.
  • #59,869
  • Apr 2, 2010 5:42pm Apr 2, 2010 5:42pm
Quoting Dan Gilbert
did you know chuck norris is 70??!!!

He has got to be the healthiest looking 70 yr old I have seen....
Chuck Norris can slam revolving doors he has also counted to infinity twice and is capable of administering a roundhouse kick to the back of the face. lol. he once visited the virgin islands. they are now just called the islands

edit: I wish everyone a happy Easter and a great weekend.
  • #59,870
  • Apr 2, 2010 5:47pm Apr 2, 2010 5:47pm
http://i43.tinypic.com/2ex26td.jpg
  • #59,871
  • Apr 2, 2010 6:16pm Apr 2, 2010 6:16pm
Quoting Dan Gilbert
did you know chuck norris is 70??!!!

He has got to be the healthiest looking 70 yr old I have seen....
I had to check that before I believed it!

70! Damn!
  • #59,872
  • Apr 2, 2010 7:39pm Apr 2, 2010 7:39pm
Quote
If you see EURAUD, it made high and then free fall , EURGBP is in same situation, can this happen to EURGBP?


What would stop it?
  • #59,873
  • Apr 2, 2010 7:53pm Apr 2, 2010 7:53pm
Quoting bablugablu
If you see EURAUD, it made high and then free fall , EURGBP is in same situation, can this happen to EURGBP?
Good observation.
anything can happen.

Quoting Dale
What would stop it?
problems in GBP Kingdom &/or good news in Eurozone (whatever it may be).



Happy Easter & Happy weekend all!
  • #59,874
  • Apr 2, 2010 9:26pm Apr 2, 2010 9:26pm
Quoting PeterPan
I think the USD CHF weekly is interesting.

Any thoughts were you would enter.

Do you wait for the weekly pin to break or do go on today's close?

P
Hey Peter, I'm not a senior, but I'll tell you what I see...

Pros
The bar size is good
The close is nice, although it could be higher
It protudes the prior bars (barely)
Fib confluence with the 50 & 62
Off a PPZ (1.05 that has held nicely)

Cons
Not at a swing low
First traffic area 50 pips away

I notated a pin with "1" which in my opinion is worse than this one. I took this one 2 weeks ago for breakeven once it hit that first zone. Why do I say this? Because that rejection just confirmed that this is a valid zone to watch out for.

I'm not taking this trade because I've been learning to get pickier. This is a pass for me. It may very well shoot right through that zone. It's not necessarily a pass for you... you need to make that decision. I just thought I'd point out someone else's view.

To answer your question: The conservative entry would be on the break of the high +30-40 pips.

-- Danny
Attached Image
  • #59,875
  • Apr 3, 2010 2:46am Apr 3, 2010 2:46am
Bonjour bluetrader et PeterPan,

IMO, if I may..............

Price did what it was supposed to do at 1 : price bounced at PPZ (last resistance flips to support) through an ugly Pin and reached it's first problem area !

Put simply, shoot window is over at 2

Just my two cents.........

Happy Easter and god bless you all

Angel
  • #59,876
  • Apr 3, 2010 4:43am Apr 3, 2010 4:43am
Quoting Dan Gilbert
did you know chuck norris is 70??!!!

He has got to be the healthiest looking 70 yr old I have seen....
yea i know recently a friend of mine told me and i didnt believe it too.

and like you said he really looks healty and young for his ages
  • #59,877
  • Apr 3, 2010 4:51am Apr 3, 2010 4:51am
Quoting PeterPan
I think the USD CHF weekly is interesting.

Any thoughts were you would enter.

Do you wait for the weekly pin to break or do go on today's close?

P
this has been discused a few pages back
here are some senior opinions:
mike
low
jarroo
  • #59,878
  • Apr 3, 2010 10:25am Apr 3, 2010 10:25am
I have Been reading this forum for a long and did interact a very few times here. Still learning the trade..

Does this Pin bar on EURJPY make any sense to go long further ?

Pros:
1)Bounced off the PPZ 126.90 or 127.00 area
2) No visible traffic ahead until 129 area
3) bar is also off 38% retracement of fibnocci connecting 10/23 and 2/24

Cons:
1) Pin bar is not at the swing low, in fact at the swing high.
2) Not a big wic pin bar, though the body is closed above the previous bar.

How do you rate this ? Does this makes sense to go long from here ?
Sl below the pin bar
TF is around 129.00, 50% Fib retracement.
Attached Image (click to enlarge)
Click to Enlarge Name: Daily EURJPY-Apr 3rd-2010.gif Size: 56 KB
  • #59,879
  • Apr 3, 2010 11:24am Apr 3, 2010 11:24am
Quoting cprao
I have Been reading this forum for a long and did interact a very few times here. Still learning the trade..

Does this Pin bar on EURJPY make any sense to go long further ?

Pros:
1)Bounced off the PPZ 126.90 or 127.00 area
2) No visible traffic ahead until 129 area
3) bar is also off 38% retracement of fibnocci connecting 10/23 and 2/24

Cons:
1) Pin bar is not at the swing low, in fact at the swing high.
2) Not a big wic pin bar, though the body is closed above the previous bar.

How do you rate this ? Does this makes sense to go long...
Throw in the 128 round number and see what value it holds

Continuation pin bars or for that matter any pa bar you use as a continuation signal is a lot more subtle than pa setups at swing ends. Hence you need to be extra careful

Buying into heavy resistance doesn't fall into my trade criteria at least.

(Just FYI I was looking for a much larger tail on your pin bar to give me a perfect IPB to go short)

g.
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I believe . . .
  • #59,880
  • Apr 3, 2010 11:28am Apr 3, 2010 11:28am
a possible pullback entry after the breakout? (around the green area)
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Keeping it simple stupid.
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