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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

  • #66,221
  • Jun 14, 2010 3:41am Jun 14, 2010 3:41am
Quoting jarroo
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

Wow,,,it feels nice to be adopted, dad. LoL

Ok, yes, I guess the M30 is no place to look at PA.


Just in case it goes.....
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  • #66,222
  • Jun 14, 2010 3:44am Jun 14, 2010 3:44am
Quoting Jonnyislost
...any thoughts on the validity of Outside bars that appear early in the trading week?...
I wonder if I am worrying about nothing?..
Hello Jonny,
i think u have a legitimate concern.
but sometimes, Monday PA setups produce good results.

regardless,
the main issue here is psychology:
u are concerned... uneasy.
u might have heard of the saying, "if in doubt, stay out".
so it's best to stay out of the market.

when u are anxious, hesitant, & yet opt to trade, then take a loss in the process, u breed regret (& might beat yourself up) & create stress. this creates a negative trading experience/"climate" which last for several minutes, hours, days... even weeks. Stress is very bad for trading, imho.
I hope i didnt ramble too much.
  • #66,223
  • Jun 14, 2010 3:46am Jun 14, 2010 3:46am
Quoting Pinbar
Wow,,,it feels nice to be adopted, dad. LoL

Ok, yes, I guess the M30 is no place to look at PA.

lol

Let's prove it first on the higher times Pb. Once you do, you may never want to leave them.
Indicators show the past. Price Action "Indicates" the future.
  • #66,224
  • Jun 14, 2010 3:51am Jun 14, 2010 3:51am
Quoting Jonnyislost
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...
I share your concern.

To the people who played the USDCAD, do you mind sharing your projected risk/reward profile on this trade? (Unless your goal is to 'let it run', of course)
The nail that sticks out gets hammered back in
  • #66,225
  • Jun 14, 2010 3:53am Jun 14, 2010 3:53am
Quoting supremeChaos
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
Nice levels, it's in the hands of the Gods now

Quoting nasir.khan
Dow want 10,500.
.
Expect a reaction at the 10.300 + TL Confluence though ?

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Quoting ghous
Jiggy!!!
Why hello there

Inserted Video
  • #66,226
  • Jun 14, 2010 3:58am Jun 14, 2010 3:58am
Quoting fxprocessor
Nice 1 hr BUOB on USDCAD at a confluenced area. I have entered aggresively on a retrace to the previous bar highs at around the 50 retrace of the bar.
While other are looking for long, I was looking for short. Is there something wrong with my understanding? I was looking at break of TL, pull back and then the confirmatory break, which didn't happen as I would have liked to happen. Chart enclosed. Comments from newbies and exp welcome.

Cheers
Novice 198
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  • #66,227
  • Jun 14, 2010 3:59am Jun 14, 2010 3:59am
Quoting supremeChaos
Hello Jonny,
i think u have a legitimate concern.
but sometimes, Monday PA setups produce good results.

regardless,
the main issue here is psychology:
Thanks SC, Yes you're right about the uneasy feeling, generally if I have to think twice about a trade, I always pass on it.
I'm waiting for the setups when it's obvious what to do
  • #66,228
  • Jun 14, 2010 3:59am Jun 14, 2010 3:59am
Quoting Jigsaw
Nice levels, it's in the hands of the Gods now



Expect a reaction at the 10.300 + TL Confluence though ?

Attachment



Why hello there

http://www.youtube.com/watch?v=j4G1L...next=1&index=1
...
I believe . . .
  • #66,229
  • Jun 14, 2010 4:02am Jun 14, 2010 4:02am
USD/CAD: expect the 4Hbar close
  • #66,230
  • Jun 14, 2010 4:03am Jun 14, 2010 4:03am
Quoting novice198
While other are looking for long, I was looking for short. Is there something wrong with my understanding? I was looking at break of TL, pull back and then the confirmatory break, which didn't happen as I would have liked to happen. Chart enclosed. Comments from newbies and exp welcome.

Cheers
Novice 198
Hey N

No this isn't neccsarily wrong(charts can offer both ways often and it just depends on the way you approach things). The guys had saw a BUOB at a former low and took a nice retrace entry due to what was located above/below. FXP played it perfect. IMO a very tough entry for anyone new b/c there was a lot to help the inital retrace bounce which was the key to the whole trade. As for your chart if you believe strongly in your trendline then your analysis is fine. If price breaks the current low we could see a run to 1.2060. Some people even just sell the new low(I have been known to do) off a breakout + pullback bounce(again if I believe strongly in my setup and no PA sets up).

Best
Mike
  • #66,231
  • Jun 14, 2010 4:11am Jun 14, 2010 4:11am
Quoting novice198
While other are looking for long, I was looking for short. Is there something wrong with my understanding? I was looking at break of TL, pull back and then the confirmatory break, which didn't happen as I would have liked to happen. Chart enclosed. Comments from newbies and exp welcome.

Cheers
Novice 198

Hi,


I also have the trendline you show on one of my charts. It was far enough away for me to ignore for a low time frane trade though. Don't worry too much about others and their trades especially on different time frames

cheers

fxp
  • #66,232
  • Jun 14, 2010 4:12am Jun 14, 2010 4:12am
Quoting novice198
While other are looking for long, I was looking for short. Is there something wrong with my understanding?....
Nothing wrong with your thoughts, no need to worry.
like i've mentioned, my concern is CAD strength so im inclined to short as well.
(my) question is when, & what price

this is a discussion thread. dont take every post here as the 'only way to trade' nor 'the only tradable setups available out there'.
it is already a given: there are many great setups that we overlook (or dont get to discuss here, for 1 reason or another), & there are many ways to trade.
a trader can be short USDCAD, while another trader is long USDCAD, while another is both short & long USDCAD (at different prices, with different objectives & time horizons).

remember, each one of us has a different personality, risk appetite, goals, lifestyle, etc.... so we all trade differently, in 1 way or another.
  • #66,233
  • Jun 14, 2010 4:15am Jun 14, 2010 4:15am
Quoting mbqb11
Hey N

No this isn't neccsarily wrong(charts can offer both ways often and it just depends on the way you approach things)....
Mike beat me to it
  • #66,234
  • Jun 14, 2010 4:17am Jun 14, 2010 4:17am
Quoting jarroo
I see nasir.

So just a minor reaction at the 10,300 or no reaction?
You won't let go that 10,300 Jarroo. (Maybe you know something about it that i don't)

I think 10,300 will trigger a retrace back to 10,180 and then price will go straight to 10,500.

I also read somewhere that when 38 is breached chances are that 50 will be tested.

This will also develop some Divg on RSI(6) also.

Damn i am trying to post this for some 10 mins now,...this internet connection is crap. (MT4 is running though)
.
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  • #66,235
  • Jun 14, 2010 4:24am Jun 14, 2010 4:24am
Quoting nasir.khan
You won't let go that 10,300 Jarroo. (Maybe you know something about it that i don't)

I think 10,300 will trigger a retrace back to 10,180 and then price will go straight to 10,500.

I also read somewhere that when 38 is breached chances are that 50 will be tested.

This will also develop some Divg on RSI(6) also.

Damn i am trying to post this for some 10 mins now,...this internet connection is crap. (MT4 is running though)
.

If that last swing Low didn't make a lower low I may buy it. But I'm not ruling out your analysis out, of course. It could be an uptrend week.
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Indicators show the past. Price Action "Indicates" the future.
  • #66,236
  • Jun 14, 2010 4:32am Jun 14, 2010 4:32am
NZD/USD H1 is showing MACD Div.

Is this going to go all the way to the 0.7000?

No Div on H4 though
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  • #66,237
  • Jun 14, 2010 4:37am Jun 14, 2010 4:37am
Quoting Pinbar
Demo Order in place.

Target hit Pb. Nice trade.
Indicators show the past. Price Action "Indicates" the future.
  • #66,238
  • Jun 14, 2010 4:39am Jun 14, 2010 4:39am
Quoting nasir.khan
You won't let go that 10,300 Jarroo. (Maybe you know something about it that i don't)

I think 10,300 will trigger a retrace back to 10,180 and then price will go straight to 10,500.

I also read somewhere that when 38 is breached chances are that 50 will be tested.

This will also develop some Divg on RSI(6) also.

Damn i am trying to post this for some 10 mins now,...this internet connection is crap. (MT4 is running though)
.
I favour 10400-450 area myself.
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  • #66,239
  • Jun 14, 2010 4:47am Jun 14, 2010 4:47am
Quoting jarroo
If that last swing Low didn't make a lower low I may buy it. But I'm not ruling out your analysis out, of course. It could be an uptrend week.
I made that plan over the weekend so i'll stick to that. (and it saved me from some losses today).

I am not sure about uptrend week but i'll sell things (if setups appear) @ 10,500.
.
  • #66,240
  • Jun 14, 2010 4:48am Jun 14, 2010 4:48am
Quoting nasir.khan
I made that plan over the weekend so i'll stick to that. (and it saved me from some losses today).

I am not sure about uptrend week but i'll sell things (if setups appear) @ 10,500.
.

Looks good nasir.
Indicators show the past. Price Action "Indicates" the future.
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