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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

  • #76,341
  • Oct 4, 2010 4:26am Oct 4, 2010 4:26am
Quoting Jonnyislost
My opinion (for what it's worth) on the current EUR/CHF 4Hour opportunity, is that there's too much support in the near term (in the form of horizontal levels and rising trendlines) for me to consider going short
Also I don't really like the shape of the BEOB. If it had a spike higher through 1.35 then I would definitely be interested

Sorry about the messy chart
All valid points Jonny . .

It a tough setup to take . . this is where a hard break and a retest would have to play out if I were to hold this trade. If not as drawn on my chart (red line), I'm out with a break even or small loss. That's if I decide to take it. . . should be fun to watch.


. .messy charts, yeah right . . .lol
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Indicators show the past. Price Action "Indicates" the future.
  • #76,342
  • Oct 4, 2010 4:28am Oct 4, 2010 4:28am
Quoting Jonnyislost
My opinion (for what it's worth) on the current EUR/CHF 4Hour opportunity, is that there's too much support in the near term (in the form of horizontal levels and rising trendlines) for me to consider going short
Also I don't really like the shape of the BEOB. If it had a spike higher through 1.35 then I would definitely be interested

Sorry about the messy chart

Thanks for the input JIL.

Can't put my finger on it but there is definitely something I don't like about that BEOB.

EDIT: I like your sub trend lines. I am seeing a lot of those in Seeking Lights videos and texts.
  • #76,343
  • Oct 4, 2010 4:29am Oct 4, 2010 4:29am
Quoting jarroo
All valid points Jonny . .

It a tough setup to take . . this is where a hard break and a retest would have to play out if I were to hold this trade. If not as drawn on my chart (red line), I'm out with a break even or small loss. That's if I decide to take it. . . should be fun to watch.


. .messy charts, yeah right . . .lol

How hard was that . . lol

(Notice the timeline)
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Indicators show the past. Price Action "Indicates" the future.
  • #76,344
  • Oct 4, 2010 4:33am Oct 4, 2010 4:33am
Quoting Pinbar
Thanks for the input JIL.

Can't put my finger on it but there is definitely something I don't like about that BEOB.
For me it's the fact that the engulfed bars sit right at the top, giving the bar more of a simple BEB look to it. Nothing wrong with that of course, but I feel more comfortable with the more classic looking PA setups

Jonny
  • #76,345
  • Oct 4, 2010 4:34am Oct 4, 2010 4:34am
Quoting jarroo
How hard was that . . lol
Yes sir
  • #76,346
  • Oct 4, 2010 4:37am Oct 4, 2010 4:37am
Quoting danielga
thank's for the reply
took all of your advice and moved my stop to a very tight BE
next time will wait for a PA confirmation
Some people are good at going in on a pure level play, but you need lotsa confluence for those.

Personally, at this point, I wait for PA off those levels. Not saying pure level plays are wrong, but they do require more screen time. Do levels + PA enough and see PA form off those levels again & again & again & again & again & again & again & again (you get my point by now. LOL) and then you can go, "what they heck, I think odds are good we might form PA here.

But tt's only abt 30% of the story... your own style and how you play the game are what really matters.

You dont NEED pure level plays. But I'd argue that you NEED PA.

My 0.2pips mate. Trade safe. =0)

A question: Why are PA off confluenced levels "better"?
(don't spoil it seniors!)
One Mind, Any Market
  • #76,347
  • Oct 4, 2010 4:39am Oct 4, 2010 4:39am
Quoting Cyrus
Some people are good at going in on a pure level play, but you need lotsa confluence for those.

Personally, at this point, I wait for PA off those levels. Not saying pure level plays are wrong, but they do require more screen time. Do levels + PA enough and see PA form off those levels again & again & again & again & again & again & again & again (you get my point by now. LOL) and then you can go, "what they heck, I think odds are good we might form PA here).

But tt's only abt 30% of the story... your own style and how you play the game...
. . .& again . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #76,348
  • Oct 4, 2010 4:45am Oct 4, 2010 4:45am
Did you take it at the break Jarroo?

If you did, good for you, must be at the FTA and BE by now.
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  • #76,349
  • Oct 4, 2010 4:46am Oct 4, 2010 4:46am
Quoting Jonnyislost
Yes sir
No retest on that this one . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #76,350
  • Oct 4, 2010 4:48am Oct 4, 2010 4:48am
Quoting jarroo
. . .& again . . .lol
haha. again huh?

Looks like my philosophy is converging w urs Jim. To infinity & beyond!
One Mind, Any Market
  • #76,351
  • Oct 4, 2010 4:49am Oct 4, 2010 4:49am
Quoting Pinbar
Did you take it at the break Jarroo?

If you did, good for you, must be at the FTA by now.
I was in on it a little eariler, Pb. . .confluence level.

What makes PA confirmation so important is the inherent momentum they provide.

Yes . . . target hit and adjustments made.
Indicators show the past. Price Action "Indicates" the future.
  • #76,352
  • Oct 4, 2010 4:52am Oct 4, 2010 4:52am
Quoting Cyrus
haha. again huh?

Looks like my philosophy is converging w urs Jim. To infinity & beyond!

lol. . .who says trading isn't fun . .
Indicators show the past. Price Action "Indicates" the future.
  • #76,353
  • Oct 4, 2010 4:53am Oct 4, 2010 4:53am
Quoting mbqb11
50+ seems about right for most monthly bars(remember in relation to the bar. ). Not that I would play this one, but an order above 1.4150 seems most appropriate.

Best
Mike
Hi Mike, any reason why you will skip this trade? Looks pretty fine to me.
  • #76,354
  • Oct 4, 2010 4:58am Oct 4, 2010 4:58am
Quoting LiuLangZe
Hi Mike, any reason why you will skip this trade? Looks pretty fine to me.

Where is Mike ? . . he must have had a rough weekend . . good for him . . .he deserves one or needs one . . .
Indicators show the past. Price Action "Indicates" the future.
  • #76,355
  • Oct 4, 2010 5:09am Oct 4, 2010 5:09am
gotta go gang


later. .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #76,356
  • Oct 4, 2010 5:12am Oct 4, 2010 5:12am
Quoting jarroo
I was in on it a little eariler, Pb. . .confluence level.

What makes PA confirmation so important is the inherent momentum they provide.

Yes . . . target hit and adjustments made.
You mean you took the TT off of the 61.8?

You could have told me. LoL
  • #76,357
  • Oct 4, 2010 5:13am Oct 4, 2010 5:13am
Moved so quick, never even saw it in my open positions.

(P.S. Do these green arrows mean this stuff works? )
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  • #76,358
  • Oct 4, 2010 5:25am Oct 4, 2010 5:25am
Quoting slade1986
Moved so quick, never even saw it in my open positions.

(P.S. Do these green arrows mean this stuff works? )
Nice to see that mate!

The key here was the multiple rejection of the 1.3450 level. It was really tempting, but later on decided to just watch it.

Lets see if the daily bar becomes more interesting!
I loved the trendline rejection Captain drew. I saw that later on though.

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  • #76,359
  • Oct 4, 2010 5:40am Oct 4, 2010 5:40am
Quoting The Captain
Great trade! Now draw some lower trendlines on the 4 hour watch for support. She has already found a little support at the first one. These would be good TP positions.
Bonjour the Capitain, had read your post since eo' forum.
Now it's time to pass the fear ... :-)
  • #76,360
  • Oct 4, 2010 5:54am Oct 4, 2010 5:54am
big buob on gbp/cad h4.
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meine augen sind die sterne
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