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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

  • #70,301
  • Aug 1, 2010 8:00am Aug 1, 2010 8:00am
Quoting packhorse
EUR/CHF Long

Any thoughts on this possible PB?

With the short term trend
Off a BRN
Off the monthly Pivot
RSI Divergence.

When gauging these trades is it best to check the trend on the H4 or Weekly, or both. Do they need to be trending the same way?

Thanks
I am no Pro at this but in regards to looking at the weekly, I just wanted to point out the weekly PB to you. But, you probably already see this.

I keep in mind the direction of the wkly when trading the daily...that is not to say and is said here often that trade the TF you are trading.

I question the PB you pointed out. Is the close higher than the open? If it is not that I consider this agressive.

Maybe one of the seniors has more clarity...just my rookie opinion here...don't let it shade your view
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  • #70,302
  • Aug 1, 2010 8:09am Aug 1, 2010 8:09am
what is with all these people on here this weekend...... crazy.
Many choose unhappiness over uncertainty.
  • #70,303
  • Aug 1, 2010 8:12am Aug 1, 2010 8:12am
Quoting packhorse
EUR/CHF Long

Any thoughts on this possible PB?
Hey Pack, agree with ATC here. What I would look at is the following:

* It's not a pin bar. (Close is below prior low)
* There is no divergence. ( Both price and RSI valleys are rising)

I attached RSI divergence (notice how price is rising and RSI is falling). Hope this helps pack.

-- Danny
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  • #70,304
  • Edited 1:03pm Aug 1, 2010 8:17am | Edited 1:03pm
Quoting packhorse
EUR/CHF Long

Any thoughts on this possible PB?

With the short term trend
Off a BRN
Off the monthly Pivot
RSI Divergence.

When gauging these trades is it best to check the trend on the H4 or Weekly, or both. Do they need to be trending the same way?

Thanks

On the weekly chart, things are different:
has reached the ppz bullish movement @ 1.3765 and from there there was a strong rejection.
On the daily chart, breaking the (too very small) PB, there would be room to 1.3670, where the price could bounce back and to the minimum.
I do not know if this is the case of risk, given the strong downtrend.
EDIT: Bluetrader is right: it is not a PB
Just my two cents.Attachment
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  • #70,305
  • Aug 1, 2010 8:47am Aug 1, 2010 8:47am
Anybody noticed this pinbar on the daily?

Seems to be at a confluence of the 50 and 38 fibs.

Uptrend on the weekly.

Would this be a good trade?
  • #70,306
  • Aug 1, 2010 8:56am Aug 1, 2010 8:56am
Quoting Dan Gilbert
what is with all these people on here this weekend...... crazy.
Young & restless
  • #70,307
  • Aug 1, 2010 9:18am Aug 1, 2010 9:18am
Quoting packhorse
EUR/CHF Long

Any thoughts on this possible PB?

With the short term trend
Off a BRN
Off the monthly Pivot
RSI Divergence.

When gauging these trades is it best to check the trend on the H4 or Weekly, or both. Do they need to be trending the same way?

Thanks
Thanks for your replies.
"Fail to prepare, prepare to fail."
  • #70,308
  • Aug 1, 2010 9:33am Aug 1, 2010 9:33am
Quoting Adilius07
Hello, Fxp. Yes I agree with you. You know I've been thinking a lot about the best way to manage a trade, for now I've decided to work this way:

- I take 1/2 off at about 30 pips, then I move my stop on the remaining half to NET Breakeven, not where I entered but 30 pips below. (so it is 60 pips away from the market price when 1/2 is off the table)

I think this was Mike who mentioned that some trades do work this way. I really liked the idea. Because I need to secure trade by place to breakeven, but when it is so close I have a high chances of...
This is what Jarroo does quite often just so you can follow him
  • #70,309
  • Aug 1, 2010 10:56am Aug 1, 2010 10:56am
Patiently Waiting to short 1.35 BRN off PPZ and Fib confluences + possible MA and possible DIV...
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  • #70,310
  • Aug 1, 2010 12:19pm Aug 1, 2010 12:19pm
reminder: vote in house tomorrow after 6:30pm EST
  • #70,311
  • Aug 1, 2010 1:16pm Aug 1, 2010 1:16pm
Quoting Hitchhiker
Anybody noticed this pinbar on the daily?

Seems to be at a confluence of the 50 and 38 fibs.

Uptrend on the weekly.

Would this be a good trade?

in my opinion there is insufficient space
however, you'd better listen to senior
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  • #70,312
  • Aug 1, 2010 1:33pm Aug 1, 2010 1:33pm
Quoting extraneo
in my opinion there is insufficient space
however, you'd better listen to senior
Hey E

He was asking about nzd/jpy but it is still same as your analysis
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  • #70,313
  • Aug 1, 2010 1:47pm Aug 1, 2010 1:47pm
Quoting mbqb11
Hey E

He was asking about nzd/jpy but it is still same as your analysis

Thanks Mike
sorry for the mistake but it's too hot here in Italy
  • #70,314
  • Aug 1, 2010 1:47pm Aug 1, 2010 1:47pm
Quoting extraneo

Thanks Mike
sorry for the mistake but it's too hot here in Italy
stay cool brother!
  • #70,315
  • Aug 1, 2010 1:55pm Aug 1, 2010 1:55pm
Quoting extraneo
in my opinion there is insufficient space
however, you'd better listen to senior
hitchhiker asked about nzdJPY bro...

ITS AMAZING HOW bars DIFFER in mt4 and OANDA..
for NZDJPY i got just bullish inside bar (2pip difference previou day low..)
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  • #70,316
  • Aug 1, 2010 1:58pm Aug 1, 2010 1:58pm
Quoting mistersimple
hitchhiker asked about nzdJPY bro...

ITS AMAZING HOW bars DIFFER in mt4 and OANDA..
for NZDJPY i got just bullish inside bar (2pip difference previou day low..)

Hey MS


Oanda daily bar closes 7 hrs later then the one I posted. A lot can take place in a 24/7 market in that 7 hrs. Basically all of the two lowest liquidity sessions the bulk of them at least

Best
Mike
  • #70,317
  • Aug 1, 2010 2:11pm Aug 1, 2010 2:11pm
mbqb

to me IMO oanda is more reliable.. but is just IMO

to sum up long anyway ...?
  • #70,318
  • Edited 5:09pm Aug 1, 2010 4:58pm | Edited 5:09pm
Quoting mistersimple
mbqb

to me IMO oanda is more reliable.. but is just IMO

to sum up long anyway ...?
that is fine MS we all just trade our beliefs. Whenever any of us share something it is purely experience

The question is why do you believe it is more reliable ?

Mike

edit* that is really a rehotrical question. My point isn't to prove it sorry lol. I just mean if you can answer these Whys to yourself(in general) for everything we do as traders at least logic is being applied insom manner that can be examined. Sorry for the confusion
  • #70,319
  • Edited Aug 2, 2010 4:26pm Aug 1, 2010 5:29pm | Edited Aug 2, 2010 4:26pm
Anyone watching the E-Y on the weekly TF. I see this beautifull PB at a PPZ which is also the RNB 11,500 and it also coincides with the 38% fib retrace level. Zooming into the 4H-TF and pulling out a fib there, we see confluence between a 4H-PPZ at approx 11,350 and a 50% fib level. The ideal scenario would be a bearish PA at this level and a break of the low of weekly PB towards the FTA, which would be the low of the bar prior to the PB at 11,000.

May the force be with you,
Pipcrawler
  • #70,320
  • Aug 1, 2010 6:35pm Aug 1, 2010 6:35pm
Quoting Adilius07
I think this could be pretty decent setup.
Confluence:

- PB
- Fibo 50%
- BRN
- 50EMA
- Previous breakout then ret to S/R
- Some room to FTA

What do you think?
Adilius, saw this gpy/jpy setup as well on fri, like the look of it. Might be nice if we saw some price action on the 1hr or 4hr when/if it breaks the pb high. Say a nice buob that way our stop would be at the low of that as opposed to the low of the pb...
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