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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

  • #66,441
  • Jun 16, 2010 12:15am Jun 16, 2010 12:15am
Quoting mbqb11
Hey Pin

Remember for a DBHLC price must close below the previous bars low. Shows a lot more strength(depending of course on the location)

Mike

Oh, I thought it was just below the close of the previous bar, not the low.

Thanks Mike, I will scratch that post then.
  • #66,442
  • Jun 16, 2010 1:38am Jun 16, 2010 1:38am
Quoting Pinbar
FX, how come you drew that fibo from that point?

The actual retracement is higher so shouldn't the fibo be drawn from this point?
My fib was drawn purely out of the high and low of the monthly bar. I guess fib is quite relative since everyone draws them differently. Fibs aside, are you seeing any retracement to the bearish trend of the EUR/CHF? I don't have charting software atm, but I referred to a stationary chart site and the pair is now around 1.391, dropping 50 pips since this morning?
  • #66,443
  • Jun 16, 2010 1:47am Jun 16, 2010 1:47am
Quoting jarroo
Nice job Hans.

Sure the swing High could have been higher and the size could have been bigger but all in all no to bad depending on how you managed it.

Not sure how you defined your target(s). The previous Highs and Lows on the Daily, the time frame that the setup was given, are always key.

Now when a previous High and previous Low line up (as you know) that's a PPZ level. Add a RN to that mix (111.00) and you get a strong target or level. Not sure if you saw it, thought I would point it out.

Weclome to the land of Patience,...
Thanks for your help, Jim. Yes 111.00 was my objective.
On my 4h chart there's a gap over the last weekend (see chart). Do you pay attention to those unclosed gaps when considering possible TAs?

Quoting feri z kosic
I am short on eur usd... any comments?
Hi feri z kosic, I can't see any price action on your chart. What do you base your decision on other than a fib retracement? Price broke the daily TL and we may see a bigger retrace to 1.24 or maybe to the last weekly PPZ @ 1.25.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #66,444
  • Jun 16, 2010 3:37am Jun 16, 2010 3:37am
Hi everyone! I have to say how i love this thread, friendly responses, quick also, always. Great people

(sorry offtopic, just my feelings)
  • #66,445
  • Jun 16, 2010 3:46am Jun 16, 2010 3:46am
There is a distinct lack of action in the charts today. also many seniors are not in the thread. Is it a bank holiday or something today?

I thought the FF calendar used to show these but I don't see them listed anymore.
  • #66,446
  • Jun 16, 2010 3:54am Jun 16, 2010 3:54am
i believe the FF calendar still does indicate holidays.
if not, here's a list of related links.

the seniors maybe trading or resting. there are tons of things traders do aside from trading.
  • #66,447
  • Jun 16, 2010 3:59am Jun 16, 2010 3:59am
Quoting supremeChaos
i believe the FF calendar still does indicate holidays.
if not, here's a list of related links.

the seniors maybe trading or resting. there are tons of things traders do aside from trading.
Thanks SC.
  • #66,448
  • Jun 16, 2010 4:01am Jun 16, 2010 4:01am
beob on eur / usd chart 4h
sell [email protected] (still not taken)
what do you think?

EDIT: target 1.2160
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  • #66,449
  • Jun 16, 2010 4:16am Jun 16, 2010 4:16am
extraneo,
on H4 & daily, eur$ has been making higher highs & lows.
so be careful & alert.
if price moves down, possible immediate trouble spots are 1.2230-50, 1.2200, 1.2150-70 (H4 PPZ & recent higher swing low).
  • #66,450
  • Jun 16, 2010 4:28am Jun 16, 2010 4:28am
Quoting supremeChaos
extraneo,
on H4 & daily, eur$ has been making higher highs & lows.
so be careful & alert.
if price moves down, possible immediate trouble spots are 1.2230-50, 1.2200, 1.2150-70 (H4 PPZ & recent higher swing low).

Thanks a lot.
protect me by making BE after 20 pips
  • #66,451
  • Jun 16, 2010 4:30am Jun 16, 2010 4:30am
Hey Joel,

If remember correctly AU and Gold were "Correlated" some days ago and now there moving exactly opposite.

Any Insight?

Thanks.
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  • #66,452
  • Jun 16, 2010 5:17am Jun 16, 2010 5:17am
Quoting Pinbar
There is a distinct lack of action in the charts today. also many seniors are not in the thread. Is it a bank holiday or something today?

I thought the FF calendar used to show these but I don't see them listed anymore.
The longer you stick around , the more likely you are to realise that everybody pops in when the charts are showing great set-ups. You just watch and see. lol
Bundy's status today: "Waiting..."
  • #66,453
  • Jun 16, 2010 5:37am Jun 16, 2010 5:37am
Quoting bundyraider
The longer you stick around , the more likely you are to realise that everybody pops in when the charts are showing great set-ups. You just watch and see. lol

So, no setups. I was thinking as much.

Thank you Bundy.
  • #66,454
  • Jun 16, 2010 5:45am Jun 16, 2010 5:45am
I took one that I think I shouldn't have and now I think I know why:

Silver BUOB/DBLHC - would be much better at a swing low and the target 18.85 is a strong resistance that it might not even reach..

now I just need to spot those things before I jump in
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Anything can happen.
  • #66,455
  • Jun 16, 2010 6:06am Jun 16, 2010 6:06am
Quoting ddinnov
I took one that I think I shouldn't have and now I think I know why:

Silver BUOB/DBLHC - would be much better at a swing low and the target 18.85 is a strong resistance that it might not even reach..

now I just need to spot those things before I jump in
ddinnov - I am not sure price always follows the rules with gold and especially silver.
For me price is due to come down, which it just did.
  • #66,456
  • Jun 16, 2010 7:24am Jun 16, 2010 7:24am
Quoting extraneo
beob on eur / usd chart 4h
sell [email protected] (still not taken)
what do you think?

EDIT: target 1.2160
token sell stop
hopefully good ...
  • #66,457
  • Jun 16, 2010 7:45am Jun 16, 2010 7:45am
extraneo,
hope is not a good weapon in this business...
knowledge & experience are our weapons
Manage your trade well
  • #66,458
  • Jun 16, 2010 7:45am Jun 16, 2010 7:45am
Quoting ddinnov
I took one that I think I shouldn't have and now I think I know why:

Silver BUOB/DBLHC - would be much better at a swing low and the target 18.85 is a strong resistance that it might not even reach..

now I just need to spot those things before I jump in
Understanding your "Strike zone" is important.

The first thing that would strike me upon the first glimpse of the silver daily chart is the choppiness price has gone through in the past month or so.

What is always more important than the shape of the bar is a trade setup's over all location. When located in traffic the validity or let's say the predictability of a trade setup can get sidelined by this tussle between the buyers and the sellers.

During the early days it does often happen that a PA bar jumps out at you before the preceding price action or the overall location of the bar itself. (And I am not talking about pulling down fibs from the recent swings) You need to understand this and at all times refrain from choosing a particular bar in a shoddy location by virtue of it's length or shape alone.

(On this occasion even the shape of you BUOB/DBLHC was inadequate, notice how the close failed to surpass immediate traffic to the left...can't emphasize enough how important that is for a plus factor)

g.
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I believe . . .
  • #66,459
  • Jun 16, 2010 7:46am Jun 16, 2010 7:46am
Quoting six gun
ddinnov - I am not sure price always follows the rules with gold and especially silver.
For me price is due to come down, which it just did.
Sheesh! that ain't true.

That went down like a poisonous arrow piercing my heart. lol

g.
I believe . . .
  • #66,460
  • Jun 16, 2010 7:48am Jun 16, 2010 7:48am
Quoting supremeChaos
extraneo,
hope is not a good weapon in this business...
knowledge & experience are our weapons
Manage your trade well
thanks
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