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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

  • #74,381
  • Sep 9, 2010 2:54am Sep 9, 2010 2:54am
I took this trade earlier. Since it was very close to BRN, i didn't take when the bar broke first. And in the second break, I decided to enter. The decision came out to be good. I have locked in at breakeven and riding it riskfree now. I think it will hit the target.

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  • #74,382
  • Sep 9, 2010 2:57am Sep 9, 2010 2:57am
looks like there has been a change in sentiment for this pair... note the breakout + higher high "first one in a long time"
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  • #74,383
  • Sep 9, 2010 3:01am Sep 9, 2010 3:01am
Quoting ghous
Here's a trade I took on the GBP/CHF yesterday. Recorded it for the folks here

http://www.youtube.com/watch?v=tRHt--wuH9M

(don't forget the 720p button)

g.
Thanks for the video sir. Great Analysis (as always)!
  • #74,384
  • Sep 9, 2010 3:02am Sep 9, 2010 3:02am
Quoting ghous
Here's a trade I took on the GBP/CHF yesterday. Recorded it for the folks here
Thanks for the work Ghous. Very concise and clear. You mentioned the upper trend line (H4) which the hourly has, while I'm writing, just touched to the pip and shrunk back.

This has resulted in a DBLHC on the hourly, which I am watching with interest.
Gone to a better place
  • #74,385
  • Sep 9, 2010 3:06am Sep 9, 2010 3:06am
Quoting The Lord
I took this trade earlier. Since it was very close to BRN, i didn't take when the bar broke first. And in the second break, I decided to enter. The decision came out to be good. I have locked in at breakeven and riding it riskfree now. I think it will hit the target.
A lot of story going on . .on this one. The 1.6000 was the only thing holding this one up. Once that broke, it looks like clear sailing.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,386
  • Sep 9, 2010 3:14am Sep 9, 2010 3:14am
Quoting jarroo
A lot of story going on . .on this one. The 1.6000 was the only thing holding this one up. Once that broke, it looks like clear sailing.
also note the size of the pin bar is small
  • #74,387
  • Sep 9, 2010 3:15am Sep 9, 2010 3:15am
Quoting fxprocessor
Update:

Risk covered now this is 60 pips in profit.
Nicely managed as always, fxp. Man . .that 1.56 is tough.
Indicators show the past. Price Action "Indicates" the future.
  • #74,388
  • Sep 9, 2010 3:15am Sep 9, 2010 3:15am
Quoting jarroo
A lot of story going on . .on this one. The 1.6000 was the only thing holding this one up. Once that broke, it looks like clear sailing.
we also had a 4hr beob which I played for a quick move to the FTA

I am still in take quick profits mode until I get a bit more confidence in the market. But it seems to be getting back to business. I would not outright trade that daily pin, but it was part of my decision to take the 4hr continuation beob along with cad strength and gbp weakness across the board
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  • #74,389
  • Sep 9, 2010 3:19am Sep 9, 2010 3:19am
Quoting Bollocks
also note the size of the pin bar is small
Its not that small . .200 pips big . .comparable to previous bars . .its that 1.6000 that would bug be.
Indicators show the past. Price Action "Indicates" the future.
  • #74,390
  • Sep 9, 2010 3:19am Sep 9, 2010 3:19am
another one on the watch list
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  • #74,391
  • Sep 9, 2010 3:23am Sep 9, 2010 3:23am
Quoting mbqb11
we also had a 4hr beob which I played for a quick move to the FTA

I am still in take quick profits mode until I get a bit more confidence in the market. But it seems to be getting back to business. I would not outright trade that daily pin, but it was part of my decision to take the 4hr continuation beob along with cad strength and gbp weakness across the board

That Daily PB running into the 1.6000 was a "This is Critical" moment. You gotta like all those red bars on the 4 hour . .well red bars on my chart.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,392
  • Sep 9, 2010 3:29am Sep 9, 2010 3:29am
Quoting mbqb11
we also had a 4hr beob which I played for a quick move to the FTA

I am still in take quick profits mode until I get a bit more confidence in the market. But it seems to be getting back to business. I would not outright trade that daily pin, but it was part of my decision to take the 4hr continuation beob along with cad strength and gbp weakness across the board
I saw this an hour later (on the IBFX feed)
I thought the bar looks okay to reach the recent lows and we have the daily Pin behind us, but I didn't take the trade. Something to do with the currenct marked conditions I think. Prices still don't seem to be flowing that well and I don't wanna get caught with my hand in the cookie jar
Waiting for something really exceptional before I get back into the market.

Jonny
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  • #74,393
  • Sep 9, 2010 3:30am Sep 9, 2010 3:30am
Quoting The Lord
...I think I will have to start using other feeds as well. But not sure. It will be more screen time as a major disadvantage.
not necessarily.
if the goal is to look for PA setups in several feeds, it would just take u a few seconds/minutes (more charts to look at = of course involves more time). remember, the TLs, Fibs, PPZs are mainly universal, only the PA 'look' differs from feed to feed.

Quoting The Lord
I felt the answer was for me.
possibly, & for some others too.
just reading minds, that's all.
  • #74,394
  • Sep 9, 2010 3:31am Sep 9, 2010 3:31am
dont you guys think this chart is still in a rather bullish situation with nothing more than consolidation occurring at the moment.
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  • #74,395
  • Sep 9, 2010 3:35am Sep 9, 2010 3:35am
Quick usd/cad trade today. My third trade for the week. I haven't seen many pa setups on the hourly that I like this week. But by being picky all three was profitable. Will probably only make around 65% of my goal for the week but all in all I think in times when one does not find A+ setups capital preservation is of key importance. I should try to diversify and look at other time frames more closely, I have been concentrading on the hourly intensely.

This particular setup is a dbhlc (double bar high lower close). I know the bar to the left of the setup had a marginally longer wick, but if you look at the three bars one can see price had met very strong rersitance on that ppz level. This ppz is also on the 1.03900 RN. We had some traffic to the left so I conservatively targeted two previous lows that drew my attention.

Any comments welcome..
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Thank you j16!
  • #74,396
  • Sep 9, 2010 3:35am Sep 9, 2010 3:35am
Quoting jarroo
1st target hit and then some.

I can get use to these.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,397
  • Sep 9, 2010 3:35am Sep 9, 2010 3:35am
Quoting The Lord
With different feeds, there are different look and feel on the charts. Had that occured in Fxpro feed, I would have taken that setup. But no pin there.

Yeah, I think my FXDD is exactly as your FXPRO feed.

How does this EUR/GBP compare?
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  • #74,398
  • Sep 9, 2010 3:37am Sep 9, 2010 3:37am
jarroo I noticed that you use different colors when drawing horizontal lines, pivot zones etc. Does each color represent the strength of S/R line or is there some other reason?
  • #74,399
  • Sep 9, 2010 3:43am Sep 9, 2010 3:43am
Quoting mihazupan1
jarroo I noticed that you use different colors when drawing horizontal lines, pivot zones etc. Does each color represent the strength of S/R line or is there some other reason?
No, there's no color strength representation. I just use different colors to represent PPZ levels and targeted areas. Sometimes I'll reverse them color-wise, just as long as there different colors that's all.
Indicators show the past. Price Action "Indicates" the future.
  • #74,400
  • Sep 9, 2010 3:45am Sep 9, 2010 3:45am
Quoting anderou
Quick usd/cad trade today. My third trade for the week. I haven't seen many pa setups on the hourly that I like this week. But by being picky all three was profitable..
Looking at historiacal data one can allways spot nice setups on any chart. But trading the far most right side of the screen in real time is a different story. I never beat myself up over so called "missed signals". If I think it is A+ I will trade it and that's all that matters. Being picky is the difference between breaking even or being in the green.
Thank you j16!
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