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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

  • #72,721
  • Aug 24, 2010 6:32pm Aug 24, 2010 6:32pm
I just woke up and saw my target was reached.

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  • #72,722
  • Aug 24, 2010 6:39pm Aug 24, 2010 6:39pm
Quoting jarroo
Your analysis was dead on the Aud/Cad we just needed a PA trigger to complete the picture. To bad it happened over the weekend.


Here's what the bearish PA looked like over the weekend on the Hourly, a big Pin Bar looking BEOB . we just didn't see it . . .just kidding too bad it didn't happen on Monday.
Got my eye on this chart. Are you looking at any potential setups at the moment?
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  • #72,723
  • Aug 24, 2010 7:38pm Aug 24, 2010 7:38pm
Quoting Jonnyislost
Wish this was straddling a BRN

JIL

On FXDD I have a BEOB, the close is not as I would like but isn't this straddling the 1.0600 and off the 61.8 fibo?
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  • #72,724
  • Aug 24, 2010 7:41pm Aug 24, 2010 7:41pm
Quoting jarroo
No . . I just noticed that your feed appears to be missing some data.
Ok. Now I see that. But it is still a good BEOB, right , with predictable retracement ?
Though it was in consolidation area.
  • #72,725
  • Aug 24, 2010 7:46pm Aug 24, 2010 7:46pm
Quoting Atc
I missed one of my favorites today a touch short ---- 61.8 + BRN
Whoa . .what feed is that Atc? None of my feeds show Price hitting the 1.3500 on the Eur/Cad. . .hmmm
Indicators show the past. Price Action "Indicates" the future.
  • #72,726
  • Aug 24, 2010 7:47pm Aug 24, 2010 7:47pm
Quoting Forex Girl
Thank you Jim, I do my best!!!

Cool.
Indicators show the past. Price Action "Indicates" the future.
  • #72,727
  • Aug 24, 2010 7:49pm Aug 24, 2010 7:49pm
Quoting Pinbar
JIL

On FXDD I have a BEOB, the close is not as I would like but isn't this straddling the 1.0600 and off the 61.8 fibo?
Hi PB,

Just to clarify, When I say BRN I meant the 500 pip increments, so for USD/CAD the closest BRN's are 1.0000, 1.0500 and 1.1000
1.0600 is significant of course, but lately I've been extra picky and mainly taken trades around the "BRN's"

Jonny
  • #72,728
  • Aug 24, 2010 7:51pm Aug 24, 2010 7:51pm
Jarroo, I am sure we are all glad you got your PC problems solved.

II hear you about the 8H PB, trying to ignore those for the time being.
  • #72,729
  • Aug 24, 2010 7:52pm Aug 24, 2010 7:52pm
Quoting Jonnyislost
Hi PB,

Just to clarify, When I say BRN I meant the 500 pip increments, so for USD/CAD the closest BRN's are 1.0000, 1.0500 and 1.1000
1.0600 is significant of course, but lately I've been extra picky and mainly taken trades around the "BRN's"

Jonny

Thanks Jonny.

Wow, that is really a good example of being picky.
  • #72,730
  • Aug 24, 2010 7:53pm Aug 24, 2010 7:53pm
Quoting Atc
What do u think ? Didn't we just see this?
This one caught my eye on the daily. 4 touches at a BRN in 8 days suggests maybe this support is about to give?
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  • #72,731
  • Aug 24, 2010 7:57pm Aug 24, 2010 7:57pm
Quoting Pinbar
Thanks Jonny.

Wow, that is really a good example of being picky.
Yeah I found I was taking many acceptable setups and just about breaking even over the long run
Now focusing on the exceptional setups and doing much better
  • #72,732
  • Aug 24, 2010 8:01pm Aug 24, 2010 8:01pm
Quoting Ace284
Got my eye on this chart. Are you looking at any potential setups at the moment?

Well the Aud/Cad was a no brainer long at .9350.

I have few positions going in the GU and EU.

The .8500 level on the Usd/Jpy looks juicy . .(Support turning into Restistence.)

The Price my make a revisit to the .9000 on the Aud/ Usd before heading back down.

The .7000 on the Nzd/Usd is proving to be a Support level. She may break this level and act as Resistance. . . or not.

Looking to see if the 1.5800 (past Lows) will act as Support again on the Gbp/Chf.

1.0700 on the Usd/Cad (past Highs) may act as Resistance (again)


Sorry I didn't post any charts . . I didn't want to take up a whole page on the Thread . . .yeah, I know . . that hadn't stop me before . . lol


Edit : Had to post your Aud/Cad, Ace..
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Indicators show the past. Price Action "Indicates" the future.
  • #72,733
  • Aug 24, 2010 8:05pm Aug 24, 2010 8:05pm
Feed: FXDD.

I don't think it is a tradble BUOB since it is right in the middle of sideways market.

BUOB was big but the close was not very strong. Left wic at the top.

But the my point here is will it retrace to 18.10 ?
since 18.10 has a confluenced with
PPZ
50 EMA
50% fib of BUOB
Previous bar (s) high/low.

Jarroo, any thoughts ?
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  • #72,734
  • Aug 24, 2010 8:13pm Aug 24, 2010 8:13pm
Quoting Pinbar
Jarroo, I am sure we are all glad you got your PC problems solved.

II hear you about the 8H PB, trying to ignore those for the time being.

Yeah, me too, PB.

Stick to thoses higher time frames . .Why? . . . because they Rule.
Indicators show the past. Price Action "Indicates" the future.
  • #72,735
  • Aug 24, 2010 8:27pm Aug 24, 2010 8:27pm
Quoting cprao
Feed: FXDD.

I don't think it is a tradble BUOB since it is right in the middle of sideways market.

BUOB was big but the close was not very strong. Left wic at the top.

But the my point here is will it retrace to 18.10 ?
since 18.10 has a confluenced with
PPZ
50 EMA
50% fib of BUOB
Previous bar (s) high/low.

Jarroo, any thoughts ?
Can you do a Fib off one bar accurately?
  • #72,736
  • Aug 24, 2010 8:29pm Aug 24, 2010 8:29pm
Quoting cprao
Feed: FXDD.

I don't think it is a tradble BUOB since it is right in the middle of sideways market.

BUOB was big but the close was not very strong. Left wic at the top.

But the my point here is will it retrace to 18.10 ?
since 18.10 has a confluenced with
PPZ
50 EMA
50% fib of BUOB
Previous bar (s) high/low.

Jarroo, any thoughts ?
In sideways market or areas consolidation, we like to see PA at the Top or Bottom of this area at very clear or tested levels. And as you said its in the middle of the area, so its not in a good place. . . very choppy . . alot of traffic.

Looks like you got a nice wedge formation there, cprao. Let's see if Price breaks out of the wedge and retest it.
Indicators show the past. Price Action "Indicates" the future.
  • #72,737
  • Aug 24, 2010 8:53pm Aug 24, 2010 8:53pm
Quoting spookie94
Can you do a Fib off one bar accurately?
Sorry. I did not get you.
Currenty FIB is drawn only to BUOB (Low to High).
  • #72,738
  • Aug 24, 2010 8:56pm Aug 24, 2010 8:56pm
Quoting jarroo
In sideways market or areas consolidation, we like to see PA at the Top or Bottom of this area at very clear or tested levels. And as you said its in the middle of the area, so its not in a good place. . . very choppy . . alot of traffic.

Looks like you got a nice wedge formation there, cprao. Let's see if Price breaks out of the wedge and retest it.
Yes. Jarro, I would like to watch the wedge formation also.. Range is getting narrow..
  • #72,739
  • Aug 24, 2010 8:58pm Aug 24, 2010 8:58pm
Quoting cprao
Yes. Jarro, I would like to watch the wedge formation also.. Range is getting narrow..
Its a Mike classic.
Indicators show the past. Price Action "Indicates" the future.
  • #72,740
  • Aug 24, 2010 9:37pm Aug 24, 2010 9:37pm
Quoting cprao
Ok. Now I see that. But it is still a good BEOB, right , with predictable retracement ?
Though it was in consolidation area.

Yes, Outside bars have this predictability of a retracement at their previous High or Low. But more so when they're at swing Highs or Lows and breaking through a strong PPZ level or BRNs.

I guess my point was to shows this on many times frames even the Monthly Nzd/Jpy at the 65.00 BRN. . .and in consolidation. Simple Support turning into Resistance and vice versa.

Once we see this on the Monthly, we can dial down to the lower time frames and look for some PA to take advantage of these levels.


Charts: Daily PB could have been better . . but I think you know what I mean.
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Indicators show the past. Price Action "Indicates" the future.
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