james16 Chart Thread | Page 4026 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #80,501
  • Nov 20, 2010 8:13am Nov 20, 2010 8:13am
Hi, I just wanted to share with you some setups for next week and my thoughts about them.

1. AUD/USD

http://img686.imageshack.us/img686/442/audusd.gif

- pinbar on the weekly, I think the price wants to retest the BRN @ 1.0000 (maybe 1.0100?) and I will be looking for some bearish price action at these levels. I think it's not the end of this BEOB.

2. NZD/USD

http://img547.imageshack.us/img547/7294/nzdusdp.gif

- pinbar + previous resistance @ 0.7630 now turning into support. I think price will retest the previous high @ around 0.7920.

3. NZD/JPN (weekly + daily)

http://img517.imageshack.us/img517/4...djpnweekly.gif

http://img522.imageshack.us/img522/2190/nzdjpndaily.gif

- price closed @ BRN 65.00, which was previous resistance and is now turning into support (daily chart is showing it even better). So I'm looking bulish on the NZD.

Just wanted to show these nice flip zones when support is turning into resistance. Any comments appreciated as always

Cheers
  • #80,502
  • Nov 20, 2010 8:19am Nov 20, 2010 8:19am
Oh, and when we add the fibonacci levels from the top of that BEOB we've got the 61,8 fib lining up with previous supp/res lvl + BRN @ 1.0000. Now that's a nice confluance lvl

http://img249.imageshack.us/img249/442/audusd.gif
  • #80,503
  • Nov 20, 2010 8:39am Nov 20, 2010 8:39am
Quoting mikeb
Hi, I just wanted to share with you some setups for next week and my thoughts about them.

1. AUD/USD



- pinbar on the weekly, I think the price wants to retest the BRN @ 1.0000 (maybe 1.0100?) and I will be looking for some bearish price action at these levels. I think it's not the end of this BEOB.

2. NZD/USD



- pinbar + previous resistance @ 0.7630 now turning into support. I think price will retest the previous high @ around 0.7920.

3. NZD/JPN (weekly + daily)





- price closed @ BRN 65.00, which was previous resistance...
Looking good mikeb. . .

The Nzd/Jpy closed right on the 65.00 on the Weekly so this can act as Resistance as it has been. But the Daily consolidation break out may be a hint.


I'll be watching these mikeb.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: njweekly.jpg Size: 98 KB
Click to Enlarge Name: njweeklydd.jpg Size: 104 KB
Indicators show the past. Price Action "Indicates" the future.
  • #80,504
  • Nov 20, 2010 9:02am Nov 20, 2010 9:02am
Quoting joelcf
Jim speaks the truth

Also, when someone is asking whether the NYSE or the Dow is easier to trade than the S&P500, I would probably suggest sticking to the basics for now and going through all Jim, Mike and Jim's posts. Seriously.

For a couple of reasons, and strictly in my opinion, individual equities are a lot easier to trade than currencies. Indicies, on the other hand, arent*.



[size=1]* thats kind of a half truth, since you can deconstruct an index and then look at its components and how they are going to react at certain...
Hey Joel,


When you say, " . .strictly in my opinion, individual equities are a lot easier to trade than currencies."

Are you saying easier in the way we trade here; James16's methodology of Price Acton, PPZ levels, Targets, etc. Or in the fundamental structure analysis type . .( I'm aimlessly searching for a conjunct thought here . .) type of trading? (don't know if I found the right thought . .lol)
Indicators show the past. Price Action "Indicates" the future.
  • #80,505
  • Nov 20, 2010 9:07am Nov 20, 2010 9:07am
Thx Jarroo

Your charts are showing price action in a much more obvious manner, much better for people that are learning than mine are. What I really like is that I can finally see all that The charts that you drawn look very similar to that in my head, and that makes me happy. I think I am begining to see the larger picture. I sure hope so
  • #80,506
  • Nov 20, 2010 9:09am Nov 20, 2010 9:09am
Quoting joelcf
I'm in an airport lounge, with about 4 hours sleep and 5 glasses of scotch in, so this could be a little messy



What you are saying is correct, in a sense - there are fewer people operating on a monthly chart. And so something like a trendline, which people are using to make trading decisions will have fewer people 'trading' it. And, if you start looking at market segmentation and how the money focused on such a long timeframe is operating, you will find its even fewer than you think (ie, they arent trading trendline bounces).

But,...
i always love to see your long posts joel
  • #80,507
  • Nov 20, 2010 9:10am Nov 20, 2010 9:10am
Quoting mikeb
Thx Jarroo

Your charts are showing price action in a much more obvious manner, much better for people that are learning than mine are. What I really like is that I can finally see all that The charts that you drawn look very similar to that in my head, and that makes me happy. I think I am begining to see the larger picture. I sure hope so



Quoting mikeb
Oh, and when we add the fibonacci levels from the top of that BEOB we've got the 61,8 fib lining up with previous supp/res lvl + BRN @ 1.0000. Now that's a nice confluance lvl
Your seeing the light mikeb.

Keep those charts of yours coming . . very good.
Indicators show the past. Price Action "Indicates" the future.
  • #80,508
  • Nov 20, 2010 9:12am Nov 20, 2010 9:12am
Quoting Atc
Great contribution to the thread...mind you I have been practicing TT when I have the time...along with sideways trading--trying to add another tool...having mixed results...will keep at it.

Thx
Bill
Quoting jarroo
Awesome post ppfx. . .


I'm sure you saw it too. . .the Daily close would have kept that 4 hour false break on the 10-12 in check and when Price finally broke through and closed below on following Fri, (Sun. bar . .not so much) and Mon on the Daily gave more confidence in that BEOB on the 4 hour.

Great charts . .


Jim
Thanks.

Yes a big pb on a daily. Thats why its good to wait for PA on the breaks, right? In case its a false break you will see a pinbar on a higher timeframe.
  • #80,509
  • Nov 20, 2010 9:31am Nov 20, 2010 9:31am
Quoting Donkey
I'll try to post a couple of where is price going...daily chart
It would have been great, if the pin bar is rejected from 1.5..

I would think final target is - 1.4
Attached Image
  • #80,510
  • Nov 20, 2010 9:36am Nov 20, 2010 9:36am
Quoting Donkey
another daily chart - where is price going?
Good BEOB.. Engulfing quite a few bars..

I would probaby trade this on retracement at 2.7 and would be targetting to 2.6.
Attached Image (click to enlarge)
Click to Enlarge Name: wpg02_dly.gif Size: 22 KB
  • #80,511
  • Nov 20, 2010 9:37am Nov 20, 2010 9:37am
Quoting jarroo
Are you saying easier in the way we trade here; James16's methodology of Price Acton, PPZ levels, Targets, etc. Or in the fundamental structure analysis type . .( I'm aimlessly searching for a conjunct thought here . .) type of trading? (don't know if I found the right thought . .lol)
Sorry mate, my fault - clarity isnt always my strong suit

I meant that the trading we do here, to me at least, is easier with individual equities than with fx alot of the time.

Mainly due to the second reason you listed. It is really, really difficult to 'value' a currency pair - some would even say impossible; there are around half a dozen different models generally used, and none really work. So there is no real consensus 'price' where everyone agrees that, say, the franc should be vs the dollar.

On the other hand, equity valuation is pretty standardised these days. And so you get these strong areas of s/r where a business is fairly valued, or undervalued/overvalued by a standard margin that will generally lead to large entrants/exits (10/25/30/50%), or where its liquidation value/asset value falls, or where multiple-based analysis prices it, and so on. Which gives us some pretty clean PPZs to work off.
When you have to shoot, shoot. Dont talk.
  • #80,512
  • Nov 20, 2010 9:39am Nov 20, 2010 9:39am
Quoting mikeb
Hi, I just wanted to share with you some setups for next week and my thoughts about them.

1. AUD/USD

- pinbar on the weekly, I think the price wants to retest the BRN @ 1.0000 (maybe 1.0100?) and I will be looking for some bearish price action at these levels. I think it's not the end of this BEOB.

Cheers
so ,is it right ??
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 20 KB
A chart helps those who can read it.
  • #80,513
  • Edited 3:20pm Nov 20, 2010 9:39am | Edited 3:20pm
Quoting ppfx
Thanks.

Yes a big pb on a daily. Thats why its good to wait for PA on the breaks, right? In case its a false break you will see a pinbar on a higher timeframe.

Yes its always good to wait for the break and know your Honest target.

But I was talking more about how the Daily close inrelation to the 4 hour. (Chart.)
Attached Image (click to enlarge)
Click to Enlarge Name: cj20b.jpg Size: 92 KB
Indicators show the past. Price Action "Indicates" the future.
  • #80,514
  • Nov 20, 2010 9:39am Nov 20, 2010 9:39am
Quoting joelcf
I'm in an airport lounge, with about 4 hours sleep...
Great post, Joel. Thanks for clearing that up.

It's a very interesting topic. Are there any sources you would recommend to dig deeper into this?

BTW, like Jarroo proposed you should really think about running the FED. Giving brilliant analysis in spite of 5 glasses of scotch is something every government desperately needs. LOL.
Thanks J16, Sam Seiden, Udine and Jacko
  • #80,515
  • Nov 20, 2010 9:42am Nov 20, 2010 9:42am
Hi Pinbar
Thanks for yor ceilings and floor chart ,really good
Best
D
  • #80,516
  • Nov 20, 2010 9:49am Nov 20, 2010 9:49am
Quoting joelcf
Sorry mate, my fault - clarity isnt always my strong suit

I meant that the trading we do here, to me at least, is easier with individual equities than with fx alot of the time.

Mainly due to the second reason you listed. It is really, really difficult to 'value' a currency pair - some would even say impossible; there are around half a dozen different models generally used, and none really work. So there is no real consensus 'price' where everyone agrees that, say, the franc should be vs the dollar.

On the other hand, equity...

Thanks Joel. I thought it was something like that concerning value.

Its amazing how easy you are to understand.

I enjoyed your ealier post as well. . . save me some scotch , will ya .. lol


Thanks again.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #80,517
  • Nov 20, 2010 9:49am Nov 20, 2010 9:49am
Quoting geniusztc
so ,is it right ??
I saw this too. Great 2 bar PB! Could be a long term reversal. But I still skipped it as I see no other confluences...
  • #80,518
  • Nov 20, 2010 9:50am Nov 20, 2010 9:50am
Quoting HanSolo
Great post, Joel. Thanks for clearing that up.

It's a very interesting topic. Are there any sources you would recommend to dig deeper into this?

BTW, like Jarroo proposed you should really think about running the FED. Giving brilliant analysis in spite of 5 glasses of scotch is something every government desperately needs. LOL.

lol . . .He's got my vote.
Indicators show the past. Price Action "Indicates" the future.
  • #80,519
  • Nov 20, 2010 9:53am Nov 20, 2010 9:53am
Quoting Atc
Please clarify how we/I may gain the knowledge to expand our minds about the "different entities involved in the market" and their interactive methodologies?
Is there a book(s) you would recommend?
Is it news or combination thereof?
Is this information even attainable without working for the "big fish?"
What would be the best way to understand these dynamics and be able to apply this knowledge to trading?
Obviously, no desk is going to come out and tell you how they trade. For that, you have to go work there. But knowing why they trade is still useful, imho, especially when you use it in conjunction with the time horizons that each broad group is operating on.

For free, basic stuff like wikipedia/investopedia (sp?) is a good start.

Past that, Trading and Exchanges (I imagine most uni libraries would have it?) gives an excellent overview of markets, participants and how they operate. It isnt fx specific, but it will lead you down the right path if it is something you are interested in. I cant imagine anyone studying that book and not coming out with a much improved understanding of market structure and how our funny squiggles come about (and what they mean). Which will help you answer questions like 'does that low 3 years ago matter' and 'why does the M5 chart send me broke every time?!'

There are also the Hasbrouck and OHara books, but they are pretty heavy going in comparison.

How you apply said knowledge... well, that is up to you Some people just like having some context to their charts, some people never think about it again, and some people build whole systems around market dynamics.

After that, though, it gets alot murkier. Academic papers, postgrad level courses, getting a job that will work you into the ground, etc. Alot of effort, probably not much reward.
When you have to shoot, shoot. Dont talk.
  • #80,520
  • Nov 20, 2010 9:59am Nov 20, 2010 9:59am
Quoting Adilius07
I saw this too. Great 2 bar PB! Could be a long term reversal. But I still skipped it as I see no other confluences...
maybe we can also get some confidence on the daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.gif Size: 16 KB
A chart helps those who can read it.
150 traders viewing now