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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

  • #78,101
  • Oct 21, 2010 3:17pm Oct 21, 2010 3:17pm
Quoting mbqb11
couldn't agree more TJ

There are no big secrets out there, just a lot of repetition and experience that we gain over time
And I don't see the content of this thread really changing other than the VERY random touch trades, and those I recommend everyone to study, simply because they point out great S&L and great confluence.
  • #78,102
  • Oct 21, 2010 3:19pm Oct 21, 2010 3:19pm
Quoting unlv_tj
I have read probably every post in this thread, or only skipped posts I didn't need to read (questions already answered, etc.).

And recently I see a lot of the same stuff. New posters asking the same questions (this is to be expected, welcome new guys), guys who have been around a while looking for help with their PPZ (Pinbar, great questions, great posts, Jarroo, great answers), and then maybe a touch trade discusion once every 5 pages.

Yes, this thread moves fast. It has been moving fast for the last 18 months or so. But the basics are still...
Thanks tj . .I agree.

It just shows the versatility of this method . . .it can be applied to so many different styles and aspects of trading. The basic concepts are still talked about daily.
Indicators show the past. Price Action "Indicates" the future.
  • #78,103
  • Oct 21, 2010 3:34pm Oct 21, 2010 3:34pm
Quoting mbqb11
Hey Edonya

This will come with time what feels most comfortable for you....

There is the expected bounce, now it may come back up and bounce back again off the new former support pivot

those struggling will learn more by not trading for a month and just plotting these PPZs and watch price react at these levels over and over
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  • #78,104
  • Oct 21, 2010 3:36pm Oct 21, 2010 3:36pm
Quoting jarroo
Thanks tj . .I agree.

It just shows the versatility of this method . . .it can be applied to so many different styles and aspects of trading. The basic concepts are still talked about daily.
Best thread on Forex Factory no doubt
  • #78,105
  • Oct 21, 2010 3:53pm Oct 21, 2010 3:53pm
Quoting jeffokes
I took this EG trade this morning following these steps:

On spotting the DBLHC on the Daily Tf this morning I cranked down to H4 tF and spotted a nice bullish pb sitting pretty well on the 0.88000 BRN. I then set up a buy stop just above the pb, then threw in my fib tool. Now seeing that 0.88500 BRN which has also been a Daily ppz and close to the first fib extension I presumed that on breaking price might stall around there so I put my take profit just below it and for my Sl I cranked to H1 tf and located 0.87713 point well below the 0.88000...

Hey jeff . . let me just show you how I would view this setup and I'm not saying yours is wrong.

As we talked about before, I see the Daily in a consolidation . .caught between two Weekly PPZ levels, the .8850 and .8700. So a breakout of this consolidation is what I'm waiting for to happen, and see if a Breakout PullBack with PA is presented.

The 4 hour PB I would give a pass because this bullish PB is at a swing High not a swing Low where we like them. If it occurred at the bottom of this daily consolidation at the .8700, much like the 4 Hour BUOB, I would be all over it at that swing Low location.

I'm sure you saw the .8800 acting as a Support level to support the 4 Hour bullish PB. That Support level wasn't to convincing to me. But if I did take it, the blue lines would be my targets, previous bar Highs/Lows. Tight S/L just below the .8800. A hard break of the PB ( which it did . .nice) is the only way I'd trade it, meaning if it didn't break hard . .I'm out quickly.

hope this helps,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #78,106
  • Oct 21, 2010 4:07pm Oct 21, 2010 4:07pm
Quoting Atc
very true ...I was being conservative in relation to the downward pressure and believed that it would at least get back to 79.50 zone ...was looking at the wkly low for 1st fta(check mark)---guess who taught me this?(you-Jim)...that is why I took 2/3 of my position off at 79.50 area and move to BE...other third stopped out at BE

You managed that trade fantastically, Atc.

It could have easily shot to the moon based on your analysis. .double triple bottom with div on daily, etc.

You can see how this Sup to Res/Res to Sup once Price breaks through can give you a bit of a bounce to cover your risk . .well done, sir.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #78,107
  • Oct 21, 2010 4:20pm Oct 21, 2010 4:20pm
Quoting jarroo
Do they all retrace?? . .good question cprao . . . it all depends on the quality of the setup . . meaning is the Outside Bar at a Swing High/Low or in consolidation. . does it have supporting confluences . .etc. Or even if they're not of high quality.

Its just interesting to see these levels, (previous bar High/Lows of Outside Bars), have such a reaction to Price far after they are formed. . .whether they retraced at the time of their formation or not.

Any one remember this chart on the Daily Eur/Gbp? Yeah I see that its at the .8900 RN and RNs on this pair are usually very strong . .just an observation.
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Indicators show the past. Price Action "Indicates" the future.
  • #78,108
  • Oct 21, 2010 4:21pm Oct 21, 2010 4:21pm
I just spotted this tricky trade opportunity on EN. I am taking it on my demo account but I want the seniors to please look into my approach and make inputs for us to learn:-
It is a H4 tf trade. There have been three points of concern that make me consider this set up as tricky. The first thing I noted is the fact that the pb did not close below the opening and second is that it has got a size-able wick. It comes from 1.8700 BRN and beautifully sits on 1.86500 RN and in fact closed below that. The opening and close are within the preceding candles good enough. The trouble areas are as shown with the yellow dash lines [are they correct as they are? I mean did I identify them (minor ppz) correctly?]. Now the third tricky point I noted was that when I moved down to the H1 tf I saw a bullish pb with good location but not really closing "properly". In keeping with the principle that unless break occurs below or above a pb it cannot be said to be valid I considered putting in a sell stop below the bearish H4 pb but seeing the H1 tf well located pb I expected that price may likely still make it up at least before coming down so I decided to set up a sell limit order on the high of the neighboring candle as indicated by the green dash line with SL set about 15 pips above the1.8700 BRN and 40 pips away from entry with the mind that if price makes it there and triggers it and starts making down I would take off the Sell Stop order and let the current trade run. One problem I have with this set up has to do with the Sell Stop entry or point – I was torn between having to place the order below the H4 tf pb candle’s opening or below the wick and then seeing the 1.86000 BRN close to the wick I have trouble deciding if the order should be below the 1.8600 BRN or above it but yet below the pb’s wick.
That is it. Thank you all.
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  • #78,109
  • Oct 21, 2010 4:22pm Oct 21, 2010 4:22pm
Quoting jarroo
Any one remember this chart on the Daily Eur/Gbp? Yeah I see that its at the .8900 RN and RNs on this pair are usually very strong . .just an observation.

But what about the BUOB on the Daily Cad . . .again just an observation . .

http://www.forexfactory.com/showpost...ostcount=77506
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Indicators show the past. Price Action "Indicates" the future.
  • #78,110
  • Oct 21, 2010 4:55pm Oct 21, 2010 4:55pm
Sorry mistake , my entry was .7480and should have been lower ,not my Sl should have been lower
Thanks
D
  • #78,111
  • Oct 21, 2010 6:02pm Oct 21, 2010 6:02pm
Quoting jarroo
Hey jeff . . let me just show you how I would view this setup and I'm not saying yours is wrong.

As we talked about before, I see the Daily in a consolidation . .caught between two Weekly PPZ levels, the .8850 and .8700. So a breakout of this consolidation is what I'm waiting for to happen, and see if a Breakout PullBack with PA is presented.

The 4 hour PB I would give a pass because this bullish PB is at a swing High not a swing Low where we like them. If it occurred at the bottom of this daily consolidation at the .8700, much like the 4 Hour...
Sure it does help a great deal!!! Thank you!!!
  • #78,112
  • Oct 21, 2010 7:00pm Oct 21, 2010 7:00pm
This thread is gold, Jerry, gold!

http://www.siyumhaseinfeld.com/images/chars/bania.jpg
  • #78,113
  • Oct 21, 2010 7:12pm Oct 21, 2010 7:12pm
Does anyone know why this 2 day PB failed? It was on 50% ret and trendline.
Any comment would be appreciated
Danny
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  • #78,114
  • Oct 21, 2010 7:18pm Oct 21, 2010 7:18pm
Quoting dk2007
Does anyone know why this 2 day PB failed? It was on 50% ret and trendline.
Any comment would be appreciated
Danny
Hi Danny,

I am still a newbie. But my thought is price never took off to break the 2 day bullish pin so technically not in the trade yet. Considering bullish 2day pin with the trend it looks good but I would not take it if did not break with momentum.

not sure if I answered :-).

cheers
  • #78,115
  • Oct 21, 2010 7:18pm Oct 21, 2010 7:18pm
Quoting fxprocessor
Best thread on Forex Factory no doubt
I agree Five stars thread with great people.
God blees you guys.

FX
  • #78,116
  • Oct 21, 2010 7:41pm Oct 21, 2010 7:41pm
Quoting mbqb11
It is zhang the thread just moves fast and is much larger then the old days

Do not fret my friend we have been doing our thing for a very long time

Yeah, I don't see what all the bellyaching is about, personally.
  • #78,117
  • Oct 21, 2010 7:44pm Oct 21, 2010 7:44pm
Quoting Imphilomath
price never took off to break the 2 day bullish pin so technically not in the trade yet. Considering bullish 2day pin with the trend it looks good but I would not take it if did not break with momentum.
Yes, my buy entry was not executed. I look at the news and it appears to have been dollar rally ahead of G20. So everyone just wait and see..
thanks for the reply
  • #78,118
  • Oct 21, 2010 8:32pm Oct 21, 2010 8:32pm
Quoting dk2007
Does anyone know why this 2 day PB failed? It was on 50% ret and trendline.
Any comment would be appreciated
Danny

A lot of resistance there.
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  • #78,119
  • Oct 21, 2010 8:41pm Oct 21, 2010 8:41pm
hello, i spotted a BOVB on Gold. Any comments?

i think its a valid short opportunity.

there was a pin bar off the MA 8 support, then a long bearish bar 2 days ago followed by a small retracement up then this BOVB signaling down.

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i hope my analysis is correct.

comments pls.
  • #78,120
  • Oct 21, 2010 9:03pm Oct 21, 2010 9:03pm
Quoting fascist
hello, i spotted a BOVB on Gold. Any comments?
Hey fascist,

My concern with your reasoning is that you should consider also taking a "big picture" view of what is going on with gold. It's a continuation BEOB against a strong trend. You'll noticed price reacted to a nearby ppz prior to bar close. I'd prefer a long entry around this area.

I attached another chart showing GOLD over the past 2 years. Do you want to trade against this? Is this the bar that you would consider A+ against this trend?

Hope this helps,

-- Danny
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