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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

  • #70,581
  • Aug 4, 2010 8:56pm Aug 4, 2010 8:56pm
Quoting Autumm
Actually the ipb did it's thing.....
IPB-wise, it actually didnt.
IPB's move in such a way that it hits its 'nose' or wick-end &/or moves past it. this one did not.
however, imho, this 'IPB' is fairly small & against a trend. (also, see my comment below)

Quoting eswap0
Many thanks to both.
The IPB failed indeed, so another trade in the "still to learn" basket.
it's a matter of perspective.
i think u saw it solely as an IPB; i saw it mainly as a PB... & a potential IPB.

i think when people form a bias, it should be a "flexible" (as opposed to fixed) bias.... have 2 or more perspectives... use a monocular & a binocular.. try to see the forest & the trees.
  • #70,582
  • Aug 4, 2010 9:27pm Aug 4, 2010 9:27pm
NZD/USD BEOB on H4 at swing high, TL & in the direction of the weekly PB.

Weekly PB may start to come into play if we go lower by just over 70 pips.
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  • #70,583
  • Aug 4, 2010 9:28pm Aug 4, 2010 9:28pm
Quoting jdl
Any thoughts on this one?
...
fairly similar looking with Adilius07's eurjpy chart.

caution given by mbqb11 & ghous definitely has merit.
i'd give the 'other side of the coin'...:nerd:

regarding Fib confluence..
if u reverse plot that fib on your chart (since u are expecting an upmove), u will see that price made a minor retracement (above 38.2; 38.2 is at the same area of that 61.8 u plotted).

IMHO, if price stays (ideally) above 137.50 (if u plot a fib for that pin, 50% Fib comes at 137.50ish, 61.8Fib comes at 137.35ish; with 137.40ish as a minor PPZ), i think price still has a chance to move back up towards 137.70's (this week's high) & probably beyond....towards 138.50, then 139.50 - 140.00
the fake breakout mentioned by ghous.... i see that as the possible 'first stage' of the break outside the consolidation box. (see his chart)

let's see what price does...
  • #70,584
  • Aug 4, 2010 9:49pm Aug 4, 2010 9:49pm
Quoting Pinbar
NZD/USD BEOB on H4 at swing high.......
check out the Daily BEOB too (FXDD). i double checked, it indeed was a BEOB for today (thursday, Asia). a very early BEOB, is thursday already finished?

well, i see this as a another trend strength vs trend exhaustion/retracement scenario. which one will win?
on the downside, i see 0.7200 - 0.7250 as the immediate trouble area. if price passes through that convincingly, then we might see further downside prices if not, then we'll possibly revisit higher prices
  • #70,585
  • Aug 4, 2010 10:00pm Aug 4, 2010 10:00pm
Weekly looks more promising to me now. Any thoughts on GBP/CAD?
I played the breakout earlier and made 100 pips, I just like the way this one sticks out at me. Nice PB, with major trend, off 61 fib, some room. FTA is blue line.
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  • #70,586
  • Aug 4, 2010 10:06pm Aug 4, 2010 10:06pm
Are any of you playing this one? What would be the correct FTA, the top or bottom blue line?
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  • #70,587
  • Aug 4, 2010 10:09pm Aug 4, 2010 10:09pm
Quoting spookie94
Are any of you playing this one? What would be the correct FTA, the top or bottom blue line?Attachment
technically that top one with the Two Bar high. w/ the next stop towards .7000 if that bar can do that much

Best
Mike
  • #70,588
  • Edited 10:22pm Aug 4, 2010 10:10pm | Edited 10:22pm
Quoting spookie94
Weekly looks more promising to me now..
(dont have gbpcad on FXDD, so) based solely on your chart...
pretty small PB & right at the breakout out point (& looks like a PPZ ---that 1.6160 area).
your FTA looks nice, but i prefer the PB size to be a lot bigger or even form a BEOB (or PB-BEOB looking hybrid).

this PB is yet to close so a lot can happen from now until Friday's close.

Quoting spookie94
...
If it does break that area should make for good support on a pull back....
price probably just made a pullback like we've discussed awhile back.
  • #70,589
  • Aug 4, 2010 10:12pm Aug 4, 2010 10:12pm
One more, not the strongest pb but look at the location. Could be good for a few pips off the bounce.
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  • #70,590
  • Aug 4, 2010 10:12pm Aug 4, 2010 10:12pm
Quoting Atc
Waiting for a little PA Short
yes ATC I really like this one. Will be watching here too
  • #70,591
  • Aug 4, 2010 10:15pm Aug 4, 2010 10:15pm
Quoting mbqb11
technically that top one with the Two Bar high. w/ the next stop towards .7000 if that bar can do that much

Best
Mike
Thanks Mike,

Problably won't trade this one. I just saw this as a good example to help me work on identifing FTAs better.
  • #70,592
  • Aug 4, 2010 10:16pm Aug 4, 2010 10:16pm
Quoting spookie94
One more, not the strongest pb but look at the location. Could be good for a few pips off the bounce....
careful....
looks more like a doji than a PB.
very small.. close lower than the open.. very small 'nose'.]
also, the top of that "PB" looks like a PPZ.
  • #70,593
  • Aug 4, 2010 10:19pm Aug 4, 2010 10:19pm
Quoting supremeChaos
(dont have gbpcad on FXDD, so) based solely on your chart...
pretty small PB & right at the breakout out point (& looks like a PPZ ---that 1.6160 area).
your FTA looks nice, but i prefer the PB size to be a lot bigger or even form a BEOB (or PB-BEOB looking hybrid).

this PB is yet to close so a lot can happen from now until Friday's close.

All great points SC thanks for the response. I also thought a SL above 1.6010 looked nice if this turns out to be playable. Looks to be a strong SR level.
  • #70,594
  • Aug 4, 2010 10:24pm Aug 4, 2010 10:24pm
Quoting supremeChaos
careful....
looks more like a doji than a PB.
very small.. close lower than the open.. very small 'nose'.]
also, the top of that "PB" looks like a PPZ.
Thanks SC,

You brought up a point I still sometimes forget. A stronger PB will have a higher close than open if going long (opposite for short).
  • #70,595
  • Aug 4, 2010 10:35pm Aug 4, 2010 10:35pm
Quoting supremeChaos
check out the Daily BEOB too (FXDD). i double checked, it indeed was a BEOB for today (thursday, Asia). a very early BEOB, is thursday already finished?

well, i see this as a another trend strength vs trend exhaustion/retracement scenario. which one will win?
on the downside, i see 0.7200 - 0.7250 as the immediate trouble area. if price passes through that convincingly, then we might see further downside prices if not, then we'll possibly revisit higher prices
Thanks SC.

Yes, I am also watching the the current TBH we have on the daily.
The daily may be the PA to wait for on this one I feel.

Also the diagonal PPZ seems to be acting as we would expect.
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  • #70,596
  • Aug 4, 2010 10:57pm Aug 4, 2010 10:57pm
anybody considering this beob on aud/jpy.
imho it is running directly in the next ppz.
so ... no trade.
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meine augen sind die sterne
  • #70,597
  • Aug 4, 2010 11:11pm Aug 4, 2010 11:11pm
Hello aserbfx,
fairly similar situation with gbpjpy, although this looks like a much weaker setup/situation.
for this, i think 78.00 to (ideally) 78.50 must hold for the choppy uptrend to continue (or for the current range to break). (my trend bias is up if this area holds)

regardless of the outcome, i think it's a good decision to go 'no trade'.
  • #70,598
  • Aug 5, 2010 12:13am Aug 5, 2010 12:13am
just a reminder that our guest chat room is open to those that would like to use it. if you would like mod status and have been around for a while just ask.

http://www.james16group.us/Guests/guestchat.html
  • #70,599
  • Aug 5, 2010 12:27am Aug 5, 2010 12:27am
Thanks for the reminder, Sir.
i get to be a moderator there but only for a few seconds (thanks to a crappy internet connection)
  • #70,600
  • Aug 5, 2010 12:31am Aug 5, 2010 12:31am
M5 IB
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