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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

  • #67,361
  • Jun 25, 2010 3:34am Jun 25, 2010 3:34am
Quoting jarroo
1st Target or FTA hit . . . What do you do now??
MOve SL at 1.4936 above this hour bar high ?
  • #67,362
  • Jun 25, 2010 3:39am Jun 25, 2010 3:39am
Given that a rough guesstimate of GU daily range is about 200pips it shouldn't go beyond 1.4810 (61%ret of this week's swing)
  • #67,363
  • Jun 25, 2010 3:39am Jun 25, 2010 3:39am
Quoting jarroo
1st Target or FTA hit . . . What do you do now??

theoretically it should take 50% profit and move sl BE
or take 100% profit and re-entry short after retracement

EDIT: target 1.4810
  • #67,364
  • Jun 25, 2010 3:40am Jun 25, 2010 3:40am
Quoting mordre
There are a lot of Weekly lows and Daily lows and Highs around this area. The 1.4849 is 50% ret from this week's swing
Those Weekly lows and Daily lows and Highs around this area are very important. They are the PPZ levels. How do they relate to your setup? Meaning do they support it or conflict with it?
Indicators show the past. Price Action "Indicates" the future.
  • #67,365
  • Jun 25, 2010 3:41am Jun 25, 2010 3:41am
Quoting mordre
MOve SL at 1.4936 above this hour bar high ?
Nice tight stop with the bar that breaks the setup . .I like it.
Indicators show the past. Price Action "Indicates" the future.
  • #67,366
  • Jun 25, 2010 3:42am Jun 25, 2010 3:42am
Quoting jarroo
Those Weekly lows and Daily lows and Highs around this area are very important. They are the PPZ levels. How do they relate to your setup? Meaning do they support it or conflict with it?
They support it only after they are broken, so the safe thing would be to take 50% off and BE how I did just now, and moved TP to 1.4815 due to my analysis above. :d
  • #67,367
  • Jun 25, 2010 3:44am Jun 25, 2010 3:44am
Quoting mordre
They support it only after they are broken, so the safe thing would be to take 50% off and BE how I did just now, and moved TP to 1.4815 due to my analysis above. :d

Is this the Eur/Aud trade you posted? 1.48??
Indicators show the past. Price Action "Indicates" the future.
  • #67,368
  • Jun 25, 2010 3:46am Jun 25, 2010 3:46am
Quoting jarroo
Is this the Eur/Aud trade you posted? 1.48??
No, this is GU, 1.4815 was (61.8% ret of this week and around the daily range for GU) Not taking into account leaving the trade open overweekend
  • #67,369
  • Jun 25, 2010 3:51am Jun 25, 2010 3:51am
Quoting mordre
No, this is GU, 1.4815 was (61.8% ret of this week and around the daily range for GU) Not taking into account leaving the trade open overweekend
Oh lol I was initially talking about the Eur/Aud post.
Indicators show the past. Price Action "Indicates" the future.
  • #67,370
  • Jun 25, 2010 3:52am Jun 25, 2010 3:52am
Quoting jarroo
But with all that you have mentioned, why aren't we at 6500 by now? My point was that PA didn't show that . .Yet. That's why I ignore the News . . most of the time . .lol
Jim - you know what James says - be patient.
It took several years to work out last time. Just be patient.

http://www.gold-eagle.com/editorials...our062001.html

My short on the Dow is still running and it is still making money.
  • #67,371
  • Jun 25, 2010 3:53am Jun 25, 2010 3:53am
Quoting six gun
Now that is an interesting BEOB.

And on the daily a pin bar starting the move that created this BEOB
I am going to call it a pin bar but there is no left eye because of the gap and there is no proxy.
It feels like a pin bar and price reacted like it was a pin bar.

Did we miss that "pin bar"?
Is this the gap pin bar - I claim that, the SG Pin Bar.
I claimed something else last week but I don't remember what that was.

I miss stuff on the thread when I haven't been for a bit.
I think we miss so many in reality.
BEOB that engulfs the gap . .that's new one for sure SG. Worked out nice.
Indicators show the past. Price Action "Indicates" the future.
  • #67,372
  • Jun 25, 2010 3:57am Jun 25, 2010 3:57am
Quoting mordre
New setup on 4H, EURAUD, in a downtrend on a swing high, at 23% ret. Comments please...
These are the types of set ups I have the most trouble analysing tbh. When there is a reversal bar after price has continued to shoot up or down. Of course BRN's, Fibs and PPZ in the area make the decision somewhat easier, though it's not as simple as when there has been a smaller retracement. I guess this is the opposite of having too little space.

Also, does anyone have any good links on playing continuation pins and BUOB/BEOB when price has continued to shoot up or down. Sort of feel like I'm asking too many (dumb) questions atm and not actually contributing anything useful to the forum this week. Maybe I'll see some A+ set ups next week
  • #67,373
  • Jun 25, 2010 3:59am Jun 25, 2010 3:59am
Quoting six gun
Jim - you know what James says - be patient.
It took several years to work out last time. Just be patient.

http://www.gold-eagle.com/editorials...our062001.html

My short on the Dow is still running and it is still making money.
Sounds great SG.
Indicators show the past. Price Action "Indicates" the future.
  • #67,374
  • Jun 25, 2010 4:00am Jun 25, 2010 4:00am
I think Tiffany's only sells to those heavily invested in the stock market.

I just happened to look at TIF on my spead betting platform. The spread is too high I think.

Buy - 4075.9
Sell - 4068.1

What do people think about the size of the spread?

The other point is, I saw both charts there on top of each other.
Dow on the top and TIF underneath.
I thought they were both Dow - but no there is Dow and TIF.
Look like the same to me. Uncanny don't you think?
Attached Image (click to enlarge)
Click to Enlarge Name: TIF.PNG Size: 71 KB
  • #67,375
  • Jun 25, 2010 4:08am Jun 25, 2010 4:08am
Quoting jarroo
1st Target or FTA hit . . . What do you do now??

I think this is also worthy of FTA status
Attached Image (click to enlarge)
Click to Enlarge Name: fta.gif Size: 14 KB
  • #67,376
  • Jun 25, 2010 4:12am Jun 25, 2010 4:12am
Quoting forexben
These are the types of set ups I have the most trouble analysing tbh. When there is a reversal bar after price has continued to shoot up or down. Of course BRN's, Fibs and PPZ in the area make the decision somewhat easier, though it's not as simple as when there has been a smaller retracement. I guess this is the opposite of having too little space.

Also, does anyone have any good links on playing continuation pins and BUOB/BEOB when price has continued to shoot up or down. Sort of feel like I'm asking too many (dumb) questions atm and not actually...
I would check out all of James16's Charts and some of benji533's charts they have some examples of continaution setups.
Indicators show the past. Price Action "Indicates" the future.
  • #67,377
  • Jun 25, 2010 4:15am Jun 25, 2010 4:15am
Quoting fxprocessor
I think this is also worthy of FTA status
Yes, that would . . could it be a turning pont? We shall see.

Nice one fxp.
Indicators show the past. Price Action "Indicates" the future.
  • #67,378
  • Jun 25, 2010 4:22am Jun 25, 2010 4:22am
AQuestion for the big boys... Do you leave positions (like GU now) open over-weekend ?
  • #67,379
  • Jun 25, 2010 4:24am Jun 25, 2010 4:24am
Quoting jarroo
Yes, that would . . could it be a turning pont? We shall see.

Nice one fxp.
turning point upwards or downwards?
  • #67,380
  • Jun 25, 2010 4:27am Jun 25, 2010 4:27am
Quoting mordre
AQuestion for the big boys... Do you leave positions (like GU now) open over-weekend ?
I ain't no big boy . . but It depends on the pip cushion I have going into the weekend less then 50-75 pips I may close it . My 1.5000 touch trade I would leave on.
Indicators show the past. Price Action "Indicates" the future.
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