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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

  • #77,301
  • Oct 13, 2010 4:07am Oct 13, 2010 4:07am
Quoting john225
What is your charting software zhang?
I'am using the trading platform provided by IG-Index (my broker) it's called pure deal.
Pipcrawler
  • #77,302
  • Oct 13, 2010 4:16am Oct 13, 2010 4:16am
Quoting Pinbar
Yeah, I took a good look at it, all that ICCE stuff was just too much for me.
lol.... dnt let all the lines scare u Pin, havnt fully gone thru it myself but i bliv the major concept is on boxed consolidations
Simplicity is the key to success
  • #77,303
  • Oct 13, 2010 4:20am Oct 13, 2010 4:20am
Quoting squeezy
lol.... dnt let all the lines scare u Pin, havnt fully gone thru it myself but i bliv the major concept is on boxed consolidations

Hmm, thanks, I will take another gander at it with that in mind.
  • #77,304
  • Oct 13, 2010 4:28am Oct 13, 2010 4:28am
Quoting hpagan
Can you be kind enough to illustrate what you're talking about in a chart please? I think I'm following what you're saying (I hope) but I need a visual with pointers to make sure.

Thanks,
Harry
Here's a chart posted by one of the senior members, I believe it was Ghous, this should answer you're question.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 161 KB
Pipcrawler
  • #77,305
  • Oct 13, 2010 4:59am Oct 13, 2010 4:59am
Just triggered a sell on the G-J, PB just closed below BRN @ 13000. Confluence via fib (not drawn) and 4H-TL. Entry on lower TF via a PA at pullback.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 215 KB
Pipcrawler
  • #77,306
  • Oct 13, 2010 5:12am Oct 13, 2010 5:12am
Hi Xmzhang

I am watching the G-Yen myself, my 4 hr wasnt a proper PB

which PA are you using for entry?

Anthony
  • #77,307
  • Oct 13, 2010 5:20am Oct 13, 2010 5:20am
EU H4 is looking interesting.

Maybe it is going to go South in the not too distant future.
Attached Image (click to enlarge)
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  • #77,308
  • Oct 13, 2010 5:25am Oct 13, 2010 5:25am
Quoting antgal23
Hi Xmzhang

I am watching the G-Yen myself, my 4 hr wasnt a proper PB

which PA are you using for entry?

Anthony
On the 10m-TF price pulled back to the breakaway point and gave PA via a 10m-BEOB that was my entry-trigger. For PA's on a 1H-TF I like to switch to a much lower TF to look for a better entry other than a clean break entry. In this case there wasn't much to gain because the 1H-PA just closed below the BRN @ 13000. If there's would be more room between the close of the 1H-PB and the BRN @ 13000, then I would be looking for an entry on a possible pullback to the BRN @ 13000.
Pipcrawler
  • #77,309
  • Oct 13, 2010 5:26am Oct 13, 2010 5:26am
Quoting antgal23
Hi Xmzhang

I am watching the G-Yen myself, my 4 hr wasnt a proper PB

which PA are you using for entry?

Anthony
BTW. it is an 1H-PB not a 4H-PB http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #77,310
  • Oct 13, 2010 6:01am Oct 13, 2010 6:01am
I believe this is one of Rac's
ppz + 50fib + tl confluence
a smallish looking pin on the 30mins tf
Attached Image (click to enlarge)
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Simplicity is the key to success
  • #77,311
  • Oct 13, 2010 6:12am Oct 13, 2010 6:12am
Quoting xmzhang
Just triggered a sell on the G-J, PB just closed below BRN @ 13000. Confluence via fib (not drawn) and 4H-TL. Entry on lower TF via a PA at pullback.
Price has hit FTA, closed 1/2 position for a 29 pip profit, let the other 1/2 ride towards the low of the asian session.
Pipcrawler
  • #77,312
  • Oct 13, 2010 6:17am Oct 13, 2010 6:17am
Quoting squeezy
I believe this is one of Rac's
ppz + 50fib + tl confluence
a smallish looking pin on the 30mins tf
My feed generated a nice 4H-PB, but not interested in this one, the PB trades right into a proven weekly PPZ @ 15835. When price closes below this PPZ then I will reconsider.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 203 KB
Pipcrawler
  • #77,313
  • Oct 13, 2010 6:21am Oct 13, 2010 6:21am
is anyone Short Gold based on last weeks Daily Bearish Outside bar ?
It has retraced 90% but could still be in play, look what happened last time we saw one...
Attached Image (click to enlarge)
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  • #77,314
  • Oct 13, 2010 6:21am Oct 13, 2010 6:21am
Closed E/CAD manually at 1.4045
Trade Smart
  • #77,315
  • Oct 13, 2010 6:28am Oct 13, 2010 6:28am
The 1H-PB on the E-C is moving quite nicely my way, yesterday we had a similar setup, price hit RNB @ 13400 for another break-attempt and quess what, it failed again as seen by a nice 1H-PB. Closed position for a 40 pip profit. This is a countertrend trade so I prefer to take full profit as soon as possible, I think price might take another shot at the 13400http://cdn.forexfactory.com/images/icons/icon10.gif
Attached Image (click to enlarge)
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Pipcrawler
  • #77,316
  • Edited 6:42am Oct 13, 2010 6:31am | Edited 6:42am
Quoting Pinbar
EU H4 is looking interesting.
...
it's possible.
but there is no divergence, if ever u inferred that there is one. (based on your chart; price made lower highs, MACD did too)

Quoting advfntrader
is anyone Short Gold based on last weeks Daily Bearish Outside bar ?
It has retraced 90% but could still be in play, look what happened last time we saw one...
the 2 encircled 'patterns' are not even remotely similar.... IMHO
the former is less bullish than the latter. also, a good-sized PA setup would be warranted to take a possible short.
kindly take a closer look.
  • #77,317
  • Oct 13, 2010 6:40am Oct 13, 2010 6:40am
I know they are not exactly the same but my point is a Large Daily Engulfing candle retraces but the high is not taken out, then it drops

Quoting supremeChaos
it's possible.


the 2 encircled 'patterns' are not even remotely similar.... IMHO
kindly take a closer look.
  • #77,318
  • Oct 13, 2010 6:41am Oct 13, 2010 6:41am
Nice intraday 1H-IPB (which I didn't take) on the Ozzie at swinghigh and RNB @ 9900, has hit it's target for an easy 20 pip profit.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 194 KB
Pipcrawler
  • #77,319
  • Edited 7:08am Oct 13, 2010 6:52am | Edited 7:08am
Quoting advfntrader
I know they are not exactly the same but my point is a Large Daily Engulfing candle retraces but the high is not taken out, then it drops
i can see where u are coming from..
but pattern-wise, if u take a closer look, the first yellow circle has encountered a 'price stall' wherein it has made a 'triple/quadruple top' around the same area.
whereas the 2nd circle has undergone a stronger upmove, little to no price stall (unlike the first circle). u can see from the middle of your chart, price has made an almost hassle-free upmove.
comparing the patterns u encircled will tell us if subsequent price action will create a similar result.

price-wise, anything can happen from this point on.
let's watch
  • #77,320
  • Oct 13, 2010 7:05am Oct 13, 2010 7:05am
Quoting xmzhang
Just triggered a sell on the G-J, PB just closed below BRN @ 13000. Confluence via fib (not drawn) and 4H-TL. Entry on lower TF via a PA at pullback.
Closed the remaining position for another 18 pip profit, reason: on the lower TF the FTA is acting as support now. Price might go for another shot at the BRN @ 13000.
Pipcrawler
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