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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

  • #66,201
  • Jun 14, 2010 12:26am Jun 14, 2010 12:26am
Quoting Jigsaw
Real nice trade here.

Jig! . . .what's up brother! long time no see
Indicators show the past. Price Action "Indicates" the future.
  • #66,202
  • Jun 14, 2010 12:36am Jun 14, 2010 12:36am
Quoting Jigsaw
Real nice trade here.

Hi Jig,

Hopefully it will break the BUOB high which was my initial safer entry area idea. If not it was a reasonably cheap entry for me.

cheers

fxp
  • #66,203
  • Jun 14, 2010 12:46am Jun 14, 2010 12:46am
Quoting jarroo
1.0300 is a strong Weekly PPZ.
Hi Jarroo,


Good morning sir.

I also like the small potential double bottom that can be seen on the 1 hour chart too.

Lets see what price wants to do from here

cheers

fxp
  • #66,204
  • Jun 14, 2010 12:48am Jun 14, 2010 12:48am
Quoting fxprocessor
Hi Jarroo,


Good morning sir.

I also like the small potential double bottom that can be seen on the 1 hour chart too.

Lets see what price wants to do from here

cheers

fxp

"Fly me to the moon . . . "
Indicators show the past. Price Action "Indicates" the future.
  • #66,205
  • Jun 14, 2010 12:56am Jun 14, 2010 12:56am
Quoting fxprocessor
Nice 1 hr BUOB on USDCAD at a confluenced area. ...
nice.
potential H4 BUOB, in about 1 hour, too (FXDD)
  • #66,206
  • Jun 14, 2010 1:00am Jun 14, 2010 1:00am
Quoting jarroo
"Fly me to the moon . . . "

Fly me to the 62 fib area of the last swing

Stop at BE in case of crash landing
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  • #66,207
  • Jun 14, 2010 1:02am Jun 14, 2010 1:02am
Quoting fxprocessor
Fly me to the 62 fib area of the last swing

Stop at BE in case of crash landing

Nice fxp. I'll take it. lol
Indicators show the past. Price Action "Indicates" the future.
  • #66,208
  • Jun 14, 2010 1:02am Jun 14, 2010 1:02am
Quoting fxprocessor
Hi Jarroo,


Good morning sir.

I also like the small potential double bottom that can be seen on the 1 hour chart too.

Lets see what price wants to do from here

cheers

fxp
Quoting jarroo
"Fly me to the moon . . . "
Quoting supremeChaos
nice.
potential H4 BUOB, in about 1 hour, too (FXDD)
What's everyone's thoughts with regards to the TP areas ?

EDIT - Too late with the post, the .61Fib / Minor PPZ confluence looks as good as any.
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  • #66,209
  • Jun 14, 2010 1:06am Jun 14, 2010 1:06am
Quoting Jigsaw
What's everyone's thoughts with regards to the TP areas ?

I have 62 fib I just posted as TP. If my stop was still under the 1 hour bar I would potentially shoot higher or see if 4 hr bar forms as Supreme mentioned.

If I am lucky enough to make money on this trade I would consider a ret entry on 4 hour bar.

cheers

fxp
  • #66,210
  • Jun 14, 2010 1:07am Jun 14, 2010 1:07am
Quoting Jigsaw
What's everyone's thoughts with regards to the TP areas ?
If we can get passed those Lows (check mark) the Highs in green or 1.0400 look good.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,211
  • Edited 1:23am Jun 14, 2010 1:09am | Edited 1:23am
Quoting jarroo
Hey Pb.

Remember the Weekly PB on the Nzd/Usd? Well, the PB never broke the Low, so its still valid by definition.

What was your entry on that PB, I forgot 1.6912? or something.

Had to go out

Yes, I think the EP was 0.6912 & the FTA was around the 0.6960 area.

I had to reinstall MT4 since then so I lost that chart.


Looking at the weekly, last weeks BUEOB stops dead at the 50 & 61.8 fibo confluence and the 365 EMA. Perhaps, we need to be looking out for Short setups also.

PS: The site seems to be getting cranky, is Twee messing with the servers or something.

Loads half an image then stops...Top page doesn't load every time and I had to upload the screen shots 5 times.

My fiber optic connection seems fine though.
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  • #66,212
  • Jun 14, 2010 1:11am Jun 14, 2010 1:11am
Quoting Jigsaw
What's everyone's thoughts...
Hey Jigsaw,
it's been awhile.

i just plotted mine. (just turned the charts on, lol). so far...
1.0360 area.
1.0400 area
1.0430-50
the latter two are daily/weekly ppz's.
my concern is cad strength. i do not expect 1.0400 to get broken. but we'll see..
i was a bit late. envious now of fxp's discount entry.heheh
  • #66,213
  • Jun 14, 2010 1:12am Jun 14, 2010 1:12am
Hey Guys,

I was wondering if anyone had any thoughts on the validity of Outside bars that appear early in the trading week?

I see Outside bars across many pairs this morning, but haven't placed any trades due to the following concerns,

1) There is usually minimal activity, during the Sunday night (Monday asian) session. Therefore any bars that appear at the start of the London session are highly likely to be outside bars (even though they are actually relatively small compared to a "normal" bar)

2) Volumes are probably still quite low, even during the start of the London session. (Meaning it takes "less money" to move the market further). Can we rely on these bars to give us our "direction" as they may not represent the overall bias in the market?

Hope I am making some sense. But I wonder if I am worrying about nothing? Thoughts are very welcome

J
  • #66,214
  • Jun 14, 2010 1:22am Jun 14, 2010 1:22am
USDCAD exit

Price is testing the top of the BUOB and the doji/neutral type bar shows indecision I have killed it for a small win.

Nice sharing this with you guys. Hope you have a great week.
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  • #66,215
  • Jun 14, 2010 1:22am Jun 14, 2010 1:22am
Quoting Pinbar
Had to go out

Yes, I think the EP was 0.6912 & the FTA was around the 0.6960 area.

I had to reinstall MT4 since then so I lost that chart.


Looking at the weekly, last weeks BUEOB stops dead at the 50 & 61.8 fibo confluence and the 365 EMA. Perhaps, we need to be looking out for Short setups also.

Good analysis Pb.

I just wanted you to see the James16 "This is Critical" is still in play.

Your entry would have given about 40 pips and no draw down. A move to break even would be a smart play don't you think?
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Indicators show the past. Price Action "Indicates" the future.
  • #66,216
  • Jun 14, 2010 1:22am Jun 14, 2010 1:22am
Quoting jarroo
Hey proletary.

This is what I meant about "something else going on". Price broke through to the upside, pretty strong too.

That's the beauty of PPZ levels, they are "flip zones" meaning there's usually a reaction sharply in one direction or the other. So when a strong level, like the 1.2150 doesn't react as strong as we would like to see based on the strong confluence of the level. Support turning into Resistance. The down trend may be stalling out or Price is just hanged around his level, knocking on the door to knock it down....
Dow want 10,500.
.
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  • #66,217
  • Edited 1:40am Jun 14, 2010 1:26am | Edited 1:40am
Quoting jarroo
Good analysis Pb.

I just wanted you to see the James16 "This is Critical" is still in play.

Your entry would have given about 40 pips and no draw down. A move to break even would be a smart play don't you think?

Appreciate the nudge Jarroo.

Yes, caution is best with this one but I can also see there are some setups where we need more room.

Not sure how to define them yet though.
For now, caution will do just fine.


Ah, the IB on the M30 with the low broken looks like a clear warning.

EDIT:

I am working out a plan on a short trade as we have only 20 mins till that H4 candle at the swing high closes. Just in case it shows promise at the close.
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  • #66,218
  • Jun 14, 2010 1:28am Jun 14, 2010 1:28am
Quoting Jigsaw
Real nice trade here.
Jiggy!!!
I believe . . .
  • #66,219
  • Jun 14, 2010 1:31am Jun 14, 2010 1:31am
Quoting nasir.khan
Dow want 10,500.
.

I see nasir.

So just a minor reaction at the 10,300 or no reaction?
Indicators show the past. Price Action "Indicates" the future.
  • #66,220
  • Jun 14, 2010 1:34am Jun 14, 2010 1:34am
Quoting Pinbar
.


Ah, the IB on the M30 with the low broken looks like a clear warning.
Don't look at PA on that time frame, Pb. That 30 min chart was just to show the break and no draw down. Get back on thoses higher time frames, son . . . . lol
Indicators show the past. Price Action "Indicates" the future.
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