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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

  • #79,621
  • Nov 9, 2010 1:05pm Nov 9, 2010 1:05pm
Quoting nasir.khan
No it was time well spent.
Today is the best day of the month for me. Look at gold.
.
Quoting nasir.khan
and some opened positions
.
wow
u bought/sold everything!

stop it... dont make my eyes open that wide.
told u im about to already

truly awesome trades, nasir!
  • #79,622
  • Nov 9, 2010 1:16pm Nov 9, 2010 1:16pm
Quoting nasir.khan
and some opened positions
.
i see you caught some beauties awesome touch trades Nasir, its really amazing to see charts like that...pure art
  • #79,623
  • Nov 9, 2010 1:16pm Nov 9, 2010 1:16pm
Quoting xmzhang
Jarroo, you should write a book about all this stuff, could be a bestseller, I'll be the first person to buy one copie.

I'll have to pay a hefty royalty percentage to James16 and Mike. . .lol . .but thanks.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #79,624
  • Nov 9, 2010 1:24pm Nov 9, 2010 1:24pm
Quoting ppfx
i see you caught some beauties awesome touch trades Nasir, its really amazing to see charts like that...pure art
Yeah i do get lucky once or twice a month.

Btw sorry for blank charts but i only trade on Alpari and do charting only on Fxpro.
.
  • #79,625
  • Nov 9, 2010 1:35pm Nov 9, 2010 1:35pm
Quoting Be Cool
Always quality from you and very well explained too

Zhang is right - you should write a book
Thanks Jaroo -you really make it looks easy

Thanks Be Cool. It does look simple because . . it is.

I just isn't always easy to see. Over time with practise, it does become easier to see in real time.
Indicators show the past. Price Action "Indicates" the future.
  • #79,626
  • Nov 9, 2010 1:56pm Nov 9, 2010 1:56pm
Quoting nasir.khan
Yeah i do get lucky once or twice a month.

Btw sorry for blank charts but i only trade on Alpari and do charting only on Fxpro.
.
I think there is enough on the charts. Less is better. (but dont get me wrong, the more confluences the better, what i meant is that the cleaner are the charts the better).
  • #79,627
  • Nov 9, 2010 2:03pm Nov 9, 2010 2:03pm
Quoting jarroo
You got it, Pb. It really can be this easy.

Now, you can see if Price is telling more of a story at these levels . . . like a wedge breakout pullback with PA, or multi-confluences forming at these levels, etc.
I thought I'd show some more examples from the Nzd/Chf Weekly and see if there is more of a story that Price is telling us at these strong PPZ levels.

We can see on the Daily the multiple confluences that line up with the .7600 . . trendline, 50% ret., 150 ema . .a nice touch trade opportunity (purple) or even better, bullish PB confirmation.

There may have been other bullish PA on the lower time frames but I'll you check that out. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #79,628
  • Nov 9, 2010 2:13pm Nov 9, 2010 2:13pm
Very nice Nasir!
One currently in play. GJ, chart attached.


Quoting nasir.khan
Yeah i do get lucky once or twice a month.

Btw sorry for blank charts but i only trade on Alpari and do charting only on Fxpro.
.
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  • #79,629
  • Nov 9, 2010 2:48pm Nov 9, 2010 2:48pm
And for the same reason on Gold . All parabolic rises end up the same only reverse direction . !!! That include safe haven investments like GOLD !!!

Silver update !!! price 26.46!!!

Gold update!!!! Price 1383 some 40 odd dollars off the high!!

FED CAN NOT AND WILL NOT SAVE THE WORLD!!!!!

NEITHER TRADERS OPTIMISM!!!!!!!!

REGARDS VITO
  • #79,630
  • Nov 9, 2010 2:51pm Nov 9, 2010 2:51pm
Just a quick question. Say you have a pin bar on the daily, is it best to wait for the close of the next day's bar to confirm it, or do you prefer to just trade the immediate break out.

Im guessing that the first option is the most conservative but might miss the move, and the second would get you in at a good price but could fake you out.

What do most people do?

Also, with outside bars, say if it is a large one, would it be better to wait for a slight retrace, then play the bar? Since after a big move there is usually some consolidation after or a bit of a pullback. Although this week, ive seen a big outside bar, passed it up thinking the move was done, but has continued on in the same direction.

These questions im guessing have been answered a million times over, but i just want to get it clear in my mind so im not bungling through my set ups.

Thanks.
  • #79,631
  • Nov 9, 2010 2:56pm Nov 9, 2010 2:56pm
Quoting dcart
Just a quick question. Say you have a pin bar on the daily, is it best to wait for the close of the next day's bar to confirm it, or do you prefer to just trade the immediate break out.

Im guessing that the first option is the most conservative but might miss the move, and the second would get you in at a good price but could fake you out.

What do most people do?

Also, with outside bars, say if it is a large one, would it be better to wait for a slight retrace, then play the bar? Since after a big move there is usually some consolidation after...

Hey Dcart

We wait for the next bar to "break" the pinbar/outside bar etc. So once the bar closes as a pin then you can place your pending orders in there.

As for outside bar and retrace, you are correct many people will play a retrace of a big bar like an outside bar and many do retrace before hand.

best
Mike
  • #79,632
  • Nov 9, 2010 5:36pm Nov 9, 2010 5:36pm
Quoting Adilius07
My SL is above BEOB and TP is 1.3000 on this...if it would be a true break I would expect it to go to the next RN, I don't see any serious trouble areas before it.
Of course I would try to not let the winning trade turn to a loss if it reverses on me.
Adi, I'm in this one too. 1.3000 area is a logical target. I think we need to be aware of the 1.3300 area as the FTA well. The bar has pretty much done as expected, retraced to the BRN and previous bar lows, and moved to FTA.

At this point we can't be surprised if price reverses or if it passes through and turns into resistance. I'll likely be adjusting my stop to just above previous bar high at 1.3750 area. The great thing about the weekly bars is you don't have to be in a rush to make the decision.
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  • #79,633
  • Nov 9, 2010 6:21pm Nov 9, 2010 6:21pm
Quoting Donkey
Adi, I'm in this one too. 1.3000 area is a logical target. I think we need to be aware of the 1.3300 area as the FTA well. The bar has pretty much done as expected, retraced to the BRN and previous bar lows, and moved to FTA.

At this point we can't be surprised if price reverses or if it passes through and turns into resistance. I'll likely be adjusting my stop to just above previous bar high at 1.3750 area. The great thing about the weekly bars is you don't have to be in a rush to make the decision.
Yes, looking good so far. Let's see how it will develop
  • #79,634
  • Edited 7:22pm Nov 9, 2010 7:09pm | Edited 7:22pm
Quoting jarroo
I thought I'd show some more examples from the Nzd/Chf Weekly and see if there is more of a story that Price is telling us at these strong PPZ levels.

We can see on the Daily the multiple confluences that line up with the .7600 . . trendline, 50% ret., 150 ema . .a nice touch trade opportunity (purple) or even better, bullish PB confirmation.

There may have been other bullish PA on the lower time frames but I'll you check that out. . .

Looks great...

Certainly shows us how this relates to PA and FTA.


Many thanks Jarroo.



EDIT: I totally screwed up that H4 PB yesterday and indeed the FTA of the Weekly BEOB. The H4 PB failed to make the FTA I worked out before I crashed out so, I left it open and went to bed. Big Mistake. It almost hit the FTA and bounced.



I think the weekly BEOB has already hit its FTA and we now have a turnaround starting, now I am stuck in 2 trades Short and price is going North.
I am glad these were demo trades but it still sets a dangerous precedent, that being revenge trading and not getting the FTA correct.

Wonder what Jarro and Mike's opinion on this is.


ATC was right about that lower PPZ. I wrongly assumed the weekly BEOB would cut through it like butter.
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  • #79,635
  • Nov 9, 2010 7:21pm Nov 9, 2010 7:21pm
Mike, you use Alpari UK right? Do you know why our EURGBP chart looks very different from IBFX? Three day bars are missing. 24,25 & 26
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  • #79,636
  • Nov 9, 2010 7:44pm Nov 9, 2010 7:44pm
Look at this confluence. red is 89SMA and blue is 365 EMA.
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  • #79,637
  • Nov 9, 2010 7:47pm Nov 9, 2010 7:47pm
Today it finally caved in based on Weekly TL and hit the TP -
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  • #79,638
  • Nov 9, 2010 7:48pm Nov 9, 2010 7:48pm
Quoting Edonya
Look at this confluence. red is 89SMA and blue is 365 EMA.

Edona, no confluence with the EMAs on my IBFX feed, No PB either.

Red= 365 Blue=150
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  • #79,639
  • Nov 9, 2010 8:14pm Nov 9, 2010 8:14pm
Quoting Be Cool
Mike, you use Alpari UK right? Do you know why our EURGBP chart looks very different from IBFX? Three day bars are missing. 24,25 & 26
Hey BC

I use fxpro

It could either be bad data, or something to do with sunday bars. Maybe someone with alpari live can just let us know if it was just bad data to the demo feed.

Best
Mike
  • #79,640
  • Nov 9, 2010 9:15pm Nov 9, 2010 9:15pm
usd/cad buob entered on retrace on prior bar, support parity
....already took off profit some at retrace to high of buob...diverg. double/ triple bottom


eur/chf RN and fib and support
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