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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

  • #65,441
  • Jun 3, 2010 2:49am Jun 3, 2010 2:49am
Quoting Pinbar
Jarroo

We have an IB on the daily which broke 06.810.

Should I be monitoring this on D1?
Did you take that Daily IB? Then Yes monitor its targets and manage it wisely.
Indicators show the past. Price Action "Indicates" the future.
  • #65,442
  • Jun 3, 2010 2:52am Jun 3, 2010 2:52am
Quoting jarroo
Did you take that Daily IB? Then Yes monitor its targets and manage it wisely.

On the Daily? Now, I am have only set a weekly EP.
Thought you meant for me to do it all on the weekly.


I can see now, that the daily IB would have been better as we can get to BE much quicker with that and possibly use the low as SL.
What a Dumbar, I am.




If I am supposed to monitor it on H4, Jarroo is going to have to announce an official senior PARDON on the H4 or I shall be getting the boot in the rear end from many.
  • #65,443
  • Jun 3, 2010 2:57am Jun 3, 2010 2:57am
Quoting Pinbar
On the Daily? Now, I am have only set a weekly EP.
Thought you meant for me to do it all on the weekly.


If I am supposed to monitor it on H4, Jarroo is going to have to announce an official senior PARDON on the H4 or I shall be getting the boot in the rear end from many.

What? lol .. . .Oh you mean monitor how Price tests and respects targets, break, etc, right?

Then Yes check out the 4 Hour and even the Hourly.

Look how Price is respecting the Weekly PB break on the Hourly.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,444
  • Jun 3, 2010 3:02am Jun 3, 2010 3:02am
Quoting Pinbar
I read your post and the picture of the camel was not visible as yours was the last post on the page. I quite clearly saw the camel in the chart.

Just got up after a nap, that is probably why.

Nasty things those camels, almost got a chunk taken out of my arm by one once while I was visiting Pakistan.
Oh we grew quite fond of them, but I've read about them being quite vicious when "enraged".

On another note - has anyone discussed or seen the BEOB on USD/CAD daily? I've taken it on demo and want to see if it touches 1.0300.
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Anything can happen.
  • #65,445
  • Edited 3:22am Jun 3, 2010 3:07am | Edited 3:22am
Quoting Pinbar
On the Daily? Now, I am have only set a weekly EP.
Thought you meant for me to do it all on the weekly.


I can see now, that the daily IB would have been better as we can get to BE much quicker with that and possibly use the low as SL.
What a Dumbar, I am.


.
Good eye Pb, now your thinking. Shows how the higher time frame PA (Weekly bullish PB) can help you with a lower time frame setup (Daily IB). That's a type of confluence in my book.

I can't tell you everything. lol Not a dumbar at all buddy.
Indicators show the past. Price Action "Indicates" the future.
  • #65,446
  • Edited 3:42am Jun 3, 2010 3:32am | Edited 3:42am
Quoting jarroo
Good eye Pb, now your thinking. Shows how the higher time frame PA (Weekly bullish PB) can help you with a lower time frame setup (Daily IB). That's a type of confluence in my book.

I can't tell you everything. lol Not a dumbar at all buddy.

Thanks for your kind comments Jarroo.

Yes, I think the larger TF makes us think in a different manner than the lower TF. Possibly, once we can see these things consistently, I imagine it filters down to lower TF.

Possibly, I will cancel that order as we are at BRN and the 50 fibo is above our heads. If I had understood you correctly, I would already have been in profit with the SL at 0.6795 waiting for a possible break of the 6900 or a reversal signal.


Yes, and as expected these PB bar lows seem to be holding.
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  • #65,447
  • Jun 3, 2010 3:41am Jun 3, 2010 3:41am
Quoting Pinbar
Thanks for your kind comments Jarroo.

Yes, I think the larger TF makes us think in a different manner than the lower TF. Possibly, once we can see these things consistently, I imagine it filters down to lower TF.

Possibly, I will cancel that order as we are at BRN and the 50 fibo is above our heads. If I had understood you correctly, I would already have been in profit with the SL at 0.6795 waiting for a possible break of the 6900 or a reversal signal.

Your thinking is great Pb. Keep the order on. let's see how it goes.

What BRN at 50% retracement?? The BRN is the .7000. The .6900 is just a RN.

Price may touch the .6900 and head down and test the .6800 and then go for the .7000. Who knows. Let's play it out.
Indicators show the past. Price Action "Indicates" the future.
  • #65,448
  • Jun 3, 2010 3:45am Jun 3, 2010 3:45am
Quoting Pinbar
I read your post and the picture of the camel was not visible as yours was the last post on the page. I quite clearly saw the camel in the chart.

Just got up after a nap, that is probably why.

Nasty things those camels, almost got a chunk taken out of my arm by one once while I was visiting Pakistan.
yeah those things can get grumpy here,

One tried to match a Porsche with me on its back at the beach. Forcing the rein to one side ticked him off I guess, but then that is what I was told, would make the camel turn. lol
I believe . . .
  • #65,449
  • Jun 3, 2010 3:51am Jun 3, 2010 3:51am
Quoting dan89
Thanks for the reply. I did not even see that bar low lol. Also what does 'BRN' stand for ... 'Big Round Number' ?

Sorry about the picture size .. for some reason they just uploaded at that size (i used imageshack to host them, mabey thats the problem)

Dan

Sorry Dan, I keep missing your posts. Yes . . . Big or Bold Round Numbers.
Indicators show the past. Price Action "Indicates" the future.
  • #65,450
  • Jun 3, 2010 3:52am Jun 3, 2010 3:52am
Right Jarroo

Here it is.
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  • #65,451
  • Jun 3, 2010 3:55am Jun 3, 2010 3:55am
Quoting Pinbar
Right Jarroo

Here it is.
I see. Let's still keep it on and see what happens.
Indicators show the past. Price Action "Indicates" the future.
  • #65,452
  • Edited 4:05am Jun 3, 2010 4:04am | Edited 4:05am
Quoting ddinnov
Oh we grew quite fond of them, but I've read about them being quite vicious when "enraged".

On another note - has anyone discussed or seen the BEOB on USD/CAD daily? I've taken it on demo and want to see if it touches 1.0300.
Hi dd,

I am in the short trade (demo) which has already triggered my entry at 1.0355, 50% posn will be closed at 1.0305 with stop loss moved to 1.0405 for a BE trade.

Lets wait and see what happens.
Cheers
Novice 198
  • #65,453
  • Jun 3, 2010 4:11am Jun 3, 2010 4:11am
Quoting jarroo
I see. Let's still keep it on and see what happens.

Hold those BOOTS people...Jarroo has decreed an official pardon on H4 & H1.

I think I see a little of your idea here.
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  • #65,454
  • Jun 3, 2010 4:25am Jun 3, 2010 4:25am
Quoting Pinbar
Hold those BOOTS people...Jarroo has decreed an official pardon on H4 & H1.

I think I see a little of your idea here.
No pardon granted, back to the Weekly and Daily.

If anything let's look at the Daily . . where Price closed on the Daily chart. The PB on the Weekly closing above the .6800 (weekly PPZ) would have gave a more bullish strength to the Weekly PB setup.

On the Daily bars, we can see that some bars that did close above the .6800. Notice how well the Daily IB acted. That Daily IB closing above the .6800 helped a lot.

Now a Daily bar closing above the .6900 looks good to continue to the .7000.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,455
  • Jun 3, 2010 4:30am Jun 3, 2010 4:30am
Quoting Pinbar
Hold those..
Pinbar,
that downward trendline on your first chart is a bit too subjective, imho.
price has pierced through that TL on both sides a few times, rendering it invalid --- just my view. (for strict TL users, just 1 poke/piercing on the other side of a TL renders that TL invalid)
price touching that TL on the big white arrow is more of a coincidence, & based more on the 0.6850 figure, 0.6850ish PPZ &/or that red MA.

but if u have found a way to use a TL in that same way consistently, then it's ok.
  • #65,456
  • Edited 5:08am Jun 3, 2010 4:56am | Edited 5:08am
No prizes for guessing the trend for the loonie, after some volatility it looks like settling back to the trend. A nice daily outside bar has presented with enough room to move stop to break even (and take first profit) I don't know about others yet I think I can safely add to shorts on this pair with risk management all the way to parity ? Some major ppz levels have been broken for now ? Anyway here is the plan.....
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Without women, money would have no meaning - Aristotle Onassis
  • #65,457
  • Jun 3, 2010 5:15am Jun 3, 2010 5:15am
Quoting supremeChaos
Pinbar,
that downward trendline on your first chart is a bit too subjective, imho.
price has pierced through that TL on both sides a few times, rendering it invalid --- just my view. (for strict TL users, just 1 poke/piercing on the other side of a TL renders that TL invalid)
price touching that TL on the big white arrow is more of a coincidence, & based more on the 0.6850 figure, 0.6850ish PPZ &/or that red MA.

but if u have found a way to use a TL in that same way consistently, then it's ok.

Yes, it is a bit contrived, I suppose.

Ok, Jarroo.....One thing that concerns me is the bar highs before the IB.
Considering they are within 3 pips of each other, I suppose that daily IB would not have been a trade to take?
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  • #65,458
  • Jun 3, 2010 5:42am Jun 3, 2010 5:42am
Quoting jarroo
What's that line from the movie Trading Places . . "Looking good KissFan." "Feeling good Jarroo". lol. Free trading now.

Nice Trade Roger.

I thought I saw Dale ealier. I'm sure he liked it as well.


Jim
I took full profit at the 38.2 ext of the break and now watching for some more PA long. (This was no genius at work. I was asleep when it hit my first target so I just got lucky for once). We might get something interesting with ADP this morning. It seems it has been a while since that report was a market mover.

K.I.S.S.
  • #65,459
  • Jun 3, 2010 7:08am Jun 3, 2010 7:08am
Quoting jarroo
Forget what I was going to post . . I'll just copy this one.
me too.
I read somewhere in Tia's posts that "It's the hardest,.... easy money you'll ever make".
  • #65,460
  • Jun 3, 2010 7:25am Jun 3, 2010 7:25am
Banks Deposit Record $394 Billion With ECB, Avoiding Loans to One Another

I'm not good at interpreting fundamentals. Can someone explain how it will affect currencies? That's a huge amount of money which is going to pull off some market moves.
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