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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

  • #74,181
  • Sep 7, 2010 5:10pm Sep 7, 2010 5:10pm
Closed my E-G (demo)trade, 1H-BEOB at the previous daily low now acting as resistance. FTA at today's session swinglow. Final target for this daytrade would be for me the floorpivot level S3.
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Pipcrawler
  • #74,182
  • Edited 5:40pm Sep 7, 2010 5:29pm | Edited 5:40pm
Quoting jarroo
Confirming, solid PA is all that is needed once the location of confluences is given . . . and no Holidays . .lol

Although, taking a touch trade is tempting . .
G'day Jarroo,
Very kind of you to mention this E-G chart. But I think I've draw the triangle incorrectly originally, lemme explain. To draw a flagpattern correctly in the weekly TF you'll have to connect at least two swinglows - for the up TL - and at least two swinghighs -for the down TL - together. The last swinghigh I originally used wasn't a swinghigh anymore because this week price breached the high of last week. Now when I take a closer look the bar W32 was a valid swinghigh. When I now redraw the flagpattern with the correct connection points, we see that the actual breakout already took place last week, LOL,LOL.
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Pipcrawler
  • #74,183
  • Sep 7, 2010 5:39pm Sep 7, 2010 5:39pm
I will pay 1000 dollars to anyone that can put me in contact with merlin.

Jim
  • #74,184
  • Edited 5:54pm Sep 7, 2010 5:39pm | Edited 5:54pm
Quoting xmzhang
G'day Jarroo,
Very kind of you to mention this E-G chart. But I think I've draw the triangle incorrectly originally, lemme explain. To draw a flagpattern correctly in the weekly TF you'll have to connect at least two swinglows - for the up TL - and at least two swinghighs -for the down TL - together. The last swinghigh I originally used wasn't a swinghigh anymore because this week price breached the high of last week. Now when I take a closer look the bar W32 was a valid swinghigh. When I now redraw the flagpattern with the correct connection points,...
That may be technically true . .especially if you're an engineer. If only the markets were that so precise. . .but they're not.

I didn't see your Weekly wedge but your Daily wedge was just fine.
Indicators show the past. Price Action "Indicates" the future.
  • #74,185
  • Sep 7, 2010 5:41pm Sep 7, 2010 5:41pm
Quoting jarroo
That may be technically true . .especially if you're an engineer. If only the markets were that so precise. . .but their not.

I didn't see your Weekly wedge but your Daily wedge was just fine.
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Pipcrawler
  • #74,186
  • Sep 7, 2010 5:45pm Sep 7, 2010 5:45pm
Quoting james16
I will pay 1000 dollars to anyone that can put me in contact with merlin.

Jim

I wish I knew him . .I would let you know in a heart beat.

He may surprise you . . . and contact you.
Indicators show the past. Price Action "Indicates" the future.
  • #74,187
  • Sep 7, 2010 6:02pm Sep 7, 2010 6:02pm
Quoting supremeChaos


Yes, Sir.
the 1.5800 RN is a given for me.
i also have 1.5825 as PPZ, slightly similar to rac's (1.5820, chart above).


same here
My internet seems to working fine now (although time will tell)

New modem . . that should do it . .its the only thing left that's hasn't been changed. lol
Indicators show the past. Price Action "Indicates" the future.
  • #74,188
  • Sep 7, 2010 7:23pm Sep 7, 2010 7:23pm
Quoting ghous
Very well nailed!
Thanks ghous. If you guys keep helping, these are always piece of cakes!!
  • #74,189
  • Sep 7, 2010 7:24pm Sep 7, 2010 7:24pm
Quoting jarroo
I wish I knew him . .I would let you know in a heart beat.

He may surprise you . . . and contact you.
I don't think so, but maybe he will make a yearly drop by Miss that guy
  • #74,190
  • Sep 7, 2010 7:24pm Sep 7, 2010 7:24pm
Quoting mbqb11
so glad to see you take note of that area the lord. Continuation bars can be good but those first trouble areas are CLOSE. If we at least know this going into it we could make better decisions and not be caught off guard. Well done

Best
Mike
Thanks Mike.
  • #74,191
  • Sep 7, 2010 7:54pm Sep 7, 2010 7:54pm
Quoting jarroo
My internet seems to working fine now (although time will tell)
New modem . . that should do it . .its the only thing left that's hasn't been changed. lol
new modem?
yes that should do it
  • #74,192
  • Sep 7, 2010 8:02pm Sep 7, 2010 8:02pm
USDSGD H4 chart. nice bounce off BRN, TL and a BEOB. Overall trend is also down. thinking of going short.

Silver daily chart. bounce off VBRN and a BEOB at swing high. but the close is not good. i am not as confident as USDSGD
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  • #74,193
  • Sep 7, 2010 8:17pm Sep 7, 2010 8:17pm
Quoting roundrock
USDSGD H4 chart. nice bounce off BRN, TL and a BEOB. Overall trend is also down. thinking of going short.

Silver daily chart. bounce off VBRN and a BEOB at swing high. but the close is not good. i am not as confident as USDSGD
I think we need to wait for some bars to close below the zone for safe entry.

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  • #74,194
  • Sep 7, 2010 8:23pm Sep 7, 2010 8:23pm
Quoting james16
I will pay 1000 dollars to anyone that can put me in contact with merlin.

Jim
You wouldn't have to pay anyone here a dime I don't think friend. If I could find him I would. I just don't know him but I'll get the word out to those who have spoken to him in the past that you are looking. I wish you luck.

K.I.S.S.
  • #74,195
  • Edited Sep 8, 2010 3:00am Sep 7, 2010 8:24pm | Edited Sep 8, 2010 3:00am
Quoting roundrock
USDSGD H4 chart...
Silver daily chart. bounce off VBRN and a BEOB at swing high...
looking exclusively at your chart...

usdsgd looks interesting.
in your chart it has not breached 1.35, but in Oanda 1.35 was breached. (no charts, but... in Oanda, M30 & H1 a small BEOB formed, in 3 hour a fairly big BEOB formed)
i will try to enter as close as i can to 1.35.
minor PPZ seem to be 1.3470ish, 1.3450ish. i would like to see momentum through 1.3470ish

Silver
not so ideal looking PA below the 20.00 RN.
possible IPB setup.
i wont be surprised to see price breaching 20.00 & moving further up or
20.00 getting a fake breakout (& forming a PB or BEOB)
this is a pass... or wait mode.

just my views
  • #74,196
  • Sep 7, 2010 8:25pm Sep 7, 2010 8:25pm
Headed to 1.2470-1.2500 then back up to the 1.3550 area. It just seems to fit. 1.2470 is a PPZ and the 618 rertracement of the move up from the bottom is in that area as well.

K.I.S.S.
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  • #74,197
  • Sep 7, 2010 8:28pm Sep 7, 2010 8:28pm
Quoting The Lord
I think we need to wait for some bars to close below the zone for safe entry.....
great point!
that's .... James16 This is Critical

conservatively, wait for that area to break & make a pullback + PA
  • #74,198
  • Sep 7, 2010 8:30pm Sep 7, 2010 8:30pm
Quoting KissFan
Headed to 1.2470-1.2500 then back up to the 1.3550 area....
nice!
im looking for 1.6000 hahah
let's see what the market does
  • #74,199
  • Sep 7, 2010 8:45pm Sep 7, 2010 8:45pm
Quoting supremeChaos
nice!
im looking for 1.6000 hahah
let's see what the market does
Could be SC. We shall see what happens after 1.3550 as I am very certain we are headed there again. My bias would be to the downside after that (1.14ish in 2011) based on my fibwork has shown me on the weekly timeframe.

K.I.S.S.
  • #74,200
  • Sep 7, 2010 10:06pm Sep 7, 2010 10:06pm
Quoting KissFan
Headed to 1.2470-1.2500 then back up to the 1.3550 area. It just seems to fit. 1.2470 is a PPZ and the 618 rertracement of the move up from the bottom is in that area as well.

K.I.S.S.
Doubtful K, sentiment on this thing is still bearish cant see it going that high
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