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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

  • #74,781
  • Sep 14, 2010 8:09pm Sep 14, 2010 8:09pm
big bullish candle pierced thru BRN, couldnt sustain, coming down off BRN, free space , fta is marked as blue. quick run down is what we need :-)
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  • #74,782
  • Sep 14, 2010 8:13pm Sep 14, 2010 8:13pm
i have limited knowledge about CBs...

Quoting cprao
I don't know for sure but I think they are not because
1. They participate occasionally, just to tilt the balance against the market sentiment.
....
i believe they participate more often than u think, for several reasons.
they are the Biggest of the 'Big Boys'.

Quote
...2. Their participation is termed as an Intervention
it literally is intervention, since they constantly monitor & try to arrest too much volatility in their respective currencies.
  • #74,783
  • Sep 14, 2010 8:14pm Sep 14, 2010 8:14pm
not a very big BUOB, but close is good and location is at swing low. but tons of PPZ and BRN right ahead.

easy pass ....
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  • #74,784
  • Sep 14, 2010 8:15pm Sep 14, 2010 8:15pm
a rare trade for me at this time, but when the volatility is there(see bar size) then I am willing to partake.

If this was a different time of night I would probably hold.

huge BUOB, strong close above 130 BRN, massive divergence of price just exhausting. Daily pin.
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  • #74,785
  • Sep 14, 2010 8:16pm Sep 14, 2010 8:16pm
Quoting mbqb11
Hey C

These are both reasons why you should pay even more attention if this is what you are deeming their participation in the market. Anyone who participates irregardless of their reasons is part of the genuine market. Don't forget the FX markets main purpose is not for speculation. You have everything from Retail to CB to Commercials and everything else in between.

The good news is that with PA you can interpret as is and work from there.
You are right on being more careful. I just had the taste of their participation. (Stopped out CADJPY).
  • #74,786
  • Sep 14, 2010 8:16pm Sep 14, 2010 8:16pm
Quoting roundrock
big bullish candle pierced thru BRN, couldnt sustain, coming down off BRN, free space , fta is marked as blue. quick run down is what we need :-)
imho, that's not surprising at all.
that was a massive move last night/yesterday & momentum dwindled in the late-US session approaching early Asian session.

it's possible that your fta will get hit. but be alert, just in case.
  • #74,787
  • Sep 14, 2010 8:17pm Sep 14, 2010 8:17pm
Interesting PA on the yen crosses. FXPro Feed. I may get up and check in at London open in the am and see if today's volatility gives any trades.

I guess August is officially over now and we'll some more movement.
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  • #74,788
  • Sep 14, 2010 8:37pm Sep 14, 2010 8:37pm
Rumors of BOJ intervention floating around.
  • #74,789
  • Edited 8:48pm Sep 14, 2010 8:38pm | Edited 8:48pm
Quoting roundrock
not a very big BUOB, but close is good and location is at swing low. but tons of PPZ and BRN right ahead.

easy pass ....
My view is -
Pros:
The bar looks like ok size.
Along with the trend
BUOB ar 61.8% retracement
Swing Low/double bottom

Cons:
Did not close above 1.6
Space is a constraint
(Edit) - The close is not strong. Left the wic.
Expectation:
Retracing to 1.5850 -1.59 area.. producing another PA bar on H4 chart..
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  • #74,790
  • Sep 14, 2010 8:41pm Sep 14, 2010 8:41pm
Quoting supremeChaos
Rumors of BOJ intervention floating around.
Rumors? LOL

Where have you been SC.


At 10:50 AM JST BOJ started selling the Yen against the US$, saw it on the news here in Japan.
  • #74,791
  • Sep 14, 2010 8:47pm Sep 14, 2010 8:47pm
Any thoughts on this possible DBLHC?

Going to watch the close of this bar.
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  • #74,792
  • Sep 14, 2010 8:49pm Sep 14, 2010 8:49pm
Quoting Pinbar
Any thoughts on this possible DBLHC?

Going to watch the close of this bar.
PB, did you take NZDUSD trade yesterday (H4, DBHLC) ?
  • #74,793
  • Sep 14, 2010 8:51pm Sep 14, 2010 8:51pm
Can one of you guys pse PM me when we hit the big round number? =)
Compiling the posts as usual.
One Mind, Any Market
  • #74,794
  • Sep 14, 2010 8:57pm Sep 14, 2010 8:57pm
Quoting spookie94
Many times the bar next bar will retrace to at least half of this large move. Would look for an entry around 1.5500ish for a long. check out the Daily it will give you a better feel of whats going on.
Looks like the same thing is happening with EURUSD.



fxtsun
___________________________________
"Chance favours the prepared mind" - Louis Pasteur
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  • #74,795
  • Sep 14, 2010 9:03pm Sep 14, 2010 9:03pm
Quoting Pinbar
Rumors? LOL
Where have you been SC.
.....
Been asleep

Quoting Cyrus
Can one of you guys pse PM me when we hit the big round number?..
get ready to be flooded with PM's, Sir
  • #74,796
  • Sep 14, 2010 9:04pm Sep 14, 2010 9:04pm
Quoting cprao
Ok. Thank you for the update. I was wondering why all the yen pairs shot up like any thing.

I was short on CADJPY since y'day night. It was in money at 6.25 PM (UAS PST).. when I saw after few minutes, I was stopped out.

Jaroo, How do we analyze such bars influenced by goverment actions ? They may create a BUOB/BEOB or big bars.. but not created by geniune market..

Can you share your thoughts on this ?
I agree with joel .. is all part of the market.


I really don't care about the Who, What, Where or When of how a quality PA setup is formed. Its all part of what makes up Price Action in the market.

Give me a big BUOB or BEOB, off a BRN PPZ level, at a swing High or Low. . . . I don't care how (or who) formed it . . .I'm taking it.

This also goes for . . .and Mike may disagree with me . . .a PA formation made on a Friday due to profit taking or risk deduction or whatever. Just give me some high quality setups with strong locational confluences . . .
Indicators show the past. Price Action "Indicates" the future.
  • #74,797
  • Sep 14, 2010 9:07pm Sep 14, 2010 9:07pm
Quoting cprao
PB, did you take NZDUSD trade yesterday (H4, DBHLC) ?

No, I passed on it as I did not like how the next candle closed above the 0.7285
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  • #74,798
  • Sep 14, 2010 9:09pm Sep 14, 2010 9:09pm
Quoting jarroo
I agree with joel .. is all part of the market.


I really don't care about the Who, What, Where or When of how a quality PA setup is formed. Its all part of what makes up Price Action in the market.

Give me a big BUOB or BEOB, off a BRN PPZ level, at a swing High or Low. . . . I don't care how (or who) formed it . . .I'm taking it.

This also goes for...


Wowwwwwwwwwwwww. This is an eye opener!


Jarroo, if this H4 closses above the 85, you are in?


I thought people would avoid such a bar.

Obviously, I am confused.
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  • #74,799
  • Sep 14, 2010 9:15pm Sep 14, 2010 9:15pm
Quoting Pinbar
Wow. This is an eye opener!
I thought people would avoid such a bar.
Obviously, I am confused.
taking on any situation... any time, any place... as long as one is prepared &/or experienced.
  • #74,800
  • Sep 14, 2010 9:18pm Sep 14, 2010 9:18pm
Quoting supremeChaos
taking on any situation... any time, any place... as long as one is prepared &/or experienced.

My mind is boggling.

Then again, I feel that you guys really believe in the PA 1000%.

This also needs to be learned.
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