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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

  • #72,341
  • Aug 20, 2010 6:04am Aug 20, 2010 6:04am
Quoting KissFan
LOL!!

Sorry about that KF.

Just reading your journal.

Very, Very, Painfully honest.

Hits a chord here with similar experience.
  • #72,342
  • Aug 20, 2010 6:46am Aug 20, 2010 6:46am
Yesterday was the real job for me so not much screen time, i like the look of this set up.
10300 RN / 50% fib
BUOB rejects 61% Fib and close above 1.300
1.0300 area has been S/R level in the past.
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  • #72,343
  • Aug 20, 2010 7:06am Aug 20, 2010 7:06am
Quoting Pinbar
Sorry about that KF.

Just reading your journal.

Very, Very, Painfully honest.

Hits a chord here with similar experience.

No worries Pinbar. I am still on the journey bro. I enjoy laughing at myself and with those that laugh at me. Not too much ego here. I am far too blessed to worry bout that. Best of trading bro!

K.I.S.S.
  • #72,344
  • Aug 20, 2010 7:08am Aug 20, 2010 7:08am
Does anyone here uses the 1-2-3 and RH setups, with TT entry, as follow?

I use them to add positions when I'm already in the market accordling with the main PA setups
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Don't give up
  • #72,345
  • Aug 20, 2010 7:11am Aug 20, 2010 7:11am
Good afternoon,
Closed my shortposition on the kiwi a few pips above the 7000 for 92 pips profit, if kiwi breaks the 7000 later and respect the 7000 as resistance I will be looking to re-enter for a renew short. On the weekly this pair is rangebound between the 7400 and the 6800 at moment, so this could be a nice rangeplay. The kiwi might revisit range support at 6800. PA really works, don't they Jarroo.http://cdn.forexfactory.com/images/icons/icon10.gif

May the force be with you,
Pipcrawler
  • #72,346
  • Aug 20, 2010 7:21am Aug 20, 2010 7:21am
Quoting xmzhang
How about the BUOB on the daily Loonie ? BUOB closed above PPZ at the 10400 and off the 62 fib. level. FTA is at 10460-ish, last week price got rejected by this level, will price this time succeed to breach this level and then reach the 10500 ? Looking at the big bullish daily bar of today I think it might. Let's see how this plays out.

May the force be with you,
BOOOOOOM, price wiped away the FTA at 10460 and shot straight ahead to my final target at 10500, I close my position for a 84 pip profit ! Price is at the moment, as expected, finding resistance at the 10500. If price breaks the 10500 and respect that as support I will then look in the usual way for a renew long on the Loonie, next target would then be the 10600.http://cdn.forexfactory.com/images/icons/icon10.gif

May the force be with you,
Pipcrawler
  • #72,347
  • Aug 20, 2010 7:55am Aug 20, 2010 7:55am
nice trade... i saw that but stayed out, being really picky at the moment, only looking for bottoms and tops with PA for confirmation

for what its worth i have the 365 acting as resistance on my daily loonie, around the 10580 level, you may want to think about that

good luck!
  • #72,348
  • Aug 20, 2010 7:57am Aug 20, 2010 7:57am
Quoting Jonnyislost
I like to separate trouble areas into Major one's and Minor ones,
A minor one might just be just a single prior bar high or low, and although they can never be ignored, I think it's reasonable to assume that if the bar is large enough, it should be able to overcome these areas without too many problems.
a Major trouble area might be a specific level or zone that has acted as both multiple support and resistance in the past. It's these levels I think of as "action areas" as usually at these levels I start to reduce risk, or even just take profits....
Great, very very usefull information.
Pipcrawler
  • #72,349
  • Aug 20, 2010 8:09am Aug 20, 2010 8:09am
Quoting antgal23
nice trade... i saw that but stayed out, being really picky at the moment, only looking for bottoms and tops with PA for confirmation

for what its worth i have the 365 acting as resistance on my daily loonie, around the 10580 level, you may want to think about that

good luck!
On my daily Loonie chart the 365 EMA is at the moment wandering at the 10596 and it will be for next couple of days, must be a different pricefeed. So in my case a nice confluence of resistance at the 10600-ish, we only need to see some PA at the 10600 (if price gets therehttp://cdn.forexfactory.com/images/icons/icon10.gif ) Thanx for your remark.

May the force be with you,
Pipcrawler
  • #72,350
  • Aug 20, 2010 8:11am Aug 20, 2010 8:11am
Quoting packhorse
I am in on this one. My target, as I said yesterday, always was, and still is 7000. Going well at the moment.
Happy days!

The price hit bang on my predicted TP!
"Fail to prepare, prepare to fail."
  • #72,351
  • Aug 20, 2010 8:30am Aug 20, 2010 8:30am
On the 4H-TF of the E-C a nice continuation trade. Lemme tell you what I see, price generated a nice BEOB on the 4H-TF. Price is at the moment pulling back, I have a sell limit order at the low of the previous bar at 13187 pending, I hope that price retraces to this low. FTA will be the all time low at 13073, this level will almost certainly act as major support. Let's see how this works out.

May the force be with you,
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Pipcrawler
  • #72,352
  • Aug 20, 2010 8:50am Aug 20, 2010 8:50am
Quoting xmzhang
On the 4H-TF of the E-C a nice continuation trade. Lemme tell you what I see, price generated a nice BEOB on the 4H-TF. Price is at the moment pulling back, I have a sell limit order at the low of the previous bar at 13187 pending, I hope that price retraces to this low. FTA will be the all time low at 13073, this level will almost certainly act as major support. Let's see how this works out.

May the force be with you,
Just triggered short on the E-C.
Pipcrawler
  • #72,353
  • Aug 20, 2010 8:54am Aug 20, 2010 8:54am
Quoting Pinbar
Hey Adi.

Great to see I am not the only one who goes through this thing, of thinking I know something then sort of complicating it till I am not sure anymore. t is some kind of learning stage, I feel.

Anyway, recently I have been paying attention to not only the highs and lows of candles in trying to work out the FTA but I am paying equal attention to the open and close. I mean, when I see a series of open a closes close to my initial FTA search, it sort of confirms it.

If you see what I mean.
thats why you also have a line chart on your platform it simplifies the chart amazingly just a little something that i've learned from sir raczek link

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  • #72,354
  • Aug 20, 2010 9:02am Aug 20, 2010 9:02am
Great trades on the loonie and kiwi xmzhang You caught two good ones
  • #72,355
  • Aug 20, 2010 9:04am Aug 20, 2010 9:04am
Quoting xmzhang
Just triggered short on the E-C.
On the 1H-TF price just generated a PB at my entry-level, this should give me more confidence that this trade is going my way. I've also moved my SL towards a few pips above my entry point at 13190 near BE. There is no pressure anymore on this trade, from now on it will only cost me time to watch this trade, go baby, go baby, go down.
Pipcrawler
  • #72,356
  • Aug 20, 2010 9:05am Aug 20, 2010 9:05am
should i love this pinbar?
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meine augen sind die sterne
  • #72,357
  • Aug 20, 2010 9:06am Aug 20, 2010 9:06am
Quoting ppfx
Great trades on the loonie and kiwi xmzhang You caught two good ones
Thanx PPFX ! http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #72,358
  • Aug 20, 2010 9:17am Aug 20, 2010 9:17am
Quoting ppfx
thats why you also have a line chart on your platform it simplifies the chart amazingly just a little something that i've learned from sir raczek link

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Amazing how much it can reveal. Never thought a line chart would be useful
  • #72,359
  • Aug 20, 2010 9:19am Aug 20, 2010 9:19am
Quoting mihazupan1
Amazing how much it can reveal. Never thought a line chart would be useful
Yeah, never looked at price this way, shall give it a try.
Pipcrawler
  • #72,360
  • Aug 20, 2010 9:51am Aug 20, 2010 9:51am
ah crap, that daily USDCAD BUOB rocketed off with no pull backs.... oh well.
Many choose unhappiness over uncertainty.
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