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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

  • #83,061
  • Dec 19, 2010 6:37am Dec 19, 2010 6:37am
Quoting lallous
Welcome back PB,

Thanks for taking the time to post those interesting charts that make us sit, analyse and understand the material more.

Thanks Lal,

Just trying to get some extra practice with the Great people in this thread.
  • #83,062
  • Dec 19, 2010 7:16am Dec 19, 2010 7:16am
Been awhile, glad to see the J16 crew still holding down the fort. I like this daily off the 50% Fib, 365/150 EMA and the Daily pivot.
Attached Image
"Whether you think you can or can't, you're right." Henry Ford
  • #83,063
  • Dec 19, 2010 8:05am Dec 19, 2010 8:05am
I've got a question that I hope is not too off topic for this thread. I just thought about the following quote:
Quote
Per the “Investors Dictionary,” liquidity is “the ability to quickly buy or sell a particular item without causing a significant movement in the price.
So what exactly is it that causes big, speedy moves and therefore nice PA on a liquid pair like the EURUSD? Is it just many equal amounts of buy/sell orders lying on top of each other that all get filled one after another (and since there are so many at times they get filled pretty fast)? Or is it something like a few quantitative similiar orders at the near end of the move that were eager to get filled?

I'm sure there's an a easy answer to it but I somehow have difficulties thinking about it in a logical manner. Maybe you guys can help me out with that.
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,064
  • Dec 19, 2010 9:44am Dec 19, 2010 9:44am
Quoting Pinbar
Ok, here is another Where is price going, seniors feel free to try it.

Please state your FTA TP1 & TP2 along with your SL & if you would have taken this trade or not.



Daily chart.
Here are my thoughts:
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  • #83,065
  • Dec 19, 2010 9:57am Dec 19, 2010 9:57am
Quoting cprao
Here are my thoughts:
Hey Cprao, I think it was resolved already
http://www.forexfactory.com/showthre...2331&page=5535
  • #83,066
  • Dec 19, 2010 10:09am Dec 19, 2010 10:09am
Quoting lallous
Here is my go:
http://i.imgur.com/1665u.png
What pair is this?
"Whether you think you can or can't, you're right." Henry Ford
  • #83,067
  • Dec 19, 2010 10:30am Dec 19, 2010 10:30am
Quoting Scot Pippin'
What pair is this?
Hey Scot welcome back..
the particular pair is not mentioned beforehand.

during weekends, traders here do an 'exercise' called 'where is price going?', using past charts.
  • #83,068
  • Dec 19, 2010 10:42am Dec 19, 2010 10:42am
Quoting supremeChaos
before i go..
here's a chart with a limited view
Where is price going
....
making a quick post to reveal the complete picture..
thanks to everyone who participated!

gbpusd Daily chart, Oct.2009
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  • #83,069
  • Dec 19, 2010 10:42am Dec 19, 2010 10:42am
Friends, this charting service is free and really nice.
You can follow 2H, 8H time frames.

http://cdn.dailyfx.com/charts/netdaniachart/

Do you know any other charting service that will let me monitor 2D, 3D, H6, H7, something like this???

I saw Benji using all kinds of TF's. I really like the idea. Any help will be greatly appreciated

(I know there is an indicator for MT4 to watch offline, however if you tried it you know that it is really not a problem solver as it takes forever to go through the instruments - it is good to check, recheck something that's all, imho)
  • #83,070
  • Dec 19, 2010 11:55am Dec 19, 2010 11:55am
http://www.freestockcharts.com is a good one. I have been using this one alot


Quoting Adilius07
Friends, this charting service is free and really nice.
You can follow 2H, 8H time frames.

http://cdn.dailyfx.com/charts/netdaniachart/

Do you know any other charting service that will let me monitor 2D, 3D, H6, H7, something like this???

I saw Benji using all kinds of TF's. I really like the idea. Any help will be greatly appreciated

(I know there is an indicator for MT4 to watch offline, however if you tried it you know that it is really not a problem solver as it takes forever to go through the instruments - it is good to...
  • #83,071
  • Dec 19, 2010 12:00pm Dec 19, 2010 12:00pm
Hi, as a newbie just want to say a big thanks to the guys helping us new guys out.Many thanks.T
  • #83,072
  • Dec 19, 2010 12:06pm Dec 19, 2010 12:06pm
Quoting dmc
http://www.freestockcharts.com is a good one. I have been using this one alot
Hello, DMC, this looks great!!! Thank you very much! I hope I can save settings here too, if so I will add all pairs I have and daily scans through all pairs will be smooth and efficient! Thanks
  • #83,073
  • Dec 19, 2010 1:10pm Dec 19, 2010 1:10pm
Quoting Pinbar
Jarroo

The SPACE you marked on this chart is a little confusing as, I can't work out what relationship it has to current price.

Is this just an old chart and you left that on or, does it actually have any significance to current price, that I may be missing?

It has significance to the current Price situation.
Indicators show the past. Price Action "Indicates" the future.
  • #83,074
  • Dec 19, 2010 1:14pm Dec 19, 2010 1:14pm
Quoting Scot Pippin'
Been awhile, glad to see the J16 crew still holding down the fort. I like this daily off the 50% Fib, 365/150 EMA and the Daily pivot.
Hey Scot,

I saw that one too. I like the fib, the nice strong close, and the swing low. What I DON'T like is the fact that the bar didn't close above .9600 and all the bar traffic between my entry point and my target at just below .9650. I'm going to demo this, but my guess is that it will give me trouble and I'll keep a very tight stop if it does break my way.

Contrast this with GBP/CHF. The close of the pin bar is not that strong, a bit below 1.5100. But there's a lot of space (i.e., no bar highs) back up to the top of the prior bar; there is one bar low a couple of bars back, and I've set my entry just above that bar low. Again, I'm demoing this one, and have a better expectation of success in reaching my target at 1.5160, just below the high of the prior bar.

These will be fun to watch!

--Dave
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  • #83,075
  • Dec 19, 2010 1:17pm Dec 19, 2010 1:17pm
Quoting Pinbar
Very good HS, I shall look forward to it, if my back holds out.

EDIT: I don't see any mention from Jarroo about it though?

I suspect jarroo does not think too much about where is price going, on a single TF.
You know how Jarroo likes to use the weekly bars PBT&CA or Below etc.

Sure I do, Pb. I like to give others a chance before I jump in. And you're right, I do like to see where Price is in relation to S/R on the Higher time frames.
Indicators show the past. Price Action "Indicates" the future.
  • #83,076
  • Dec 19, 2010 1:33pm Dec 19, 2010 1:33pm
Quoting HanSolo
I've got a question that I hope is not too off topic for this thread. I just thought about the following quote:
So what exactly is it that causes big, speedy moves and therefore nice PA on a liquid pair like the EURUSD? Is it just many equal amounts of buy/sell orders lying on top of each other that all get filled one after another (and since there are so many at times they get filled pretty fast)? Or is it something like a few quantitative similiar orders at the near end of the move that were eager to get filled?

I'm sure there's an a easy...
hi HS, good question and its not one i can answer properly but when you see the sharp moves in price its because the liquidity (the amount of open interest on the pair, or put simply the orders on the market)are thin (at least compared with the opposing orders)and the larger orders are moving price through them quickly. Price moves when there is no more orders at that specific price to be filled so they must go to the next price (1 pip higher/lower) to get filled.You need a buyer in the market to be a seller yes?and visa versa of course.
So take a bearish pin bar for e.g. how does it show a possibility of a reversal? because the pair has moved through certain levels of price and the amount of opposing orders it met were strong enough(plenty full)to shoot the price back down again in a hurry (in order to fill the order flow) so now we have a good idea of the market being currently bearish as the PA has shown us a little of the order flow and the balance of buy and sell orders that is currently goin on in that market
not a good answer but i hope it helps you get your head around how price moves.
check out Darkstars posts he(i think he?) understands this stuff intimately and gives very good, clear and easy to understand explanations. (thanx mbqb11 for making me aware of him)
jon
PATIENCE... DISCIPLINE
  • #83,077
  • Dec 19, 2010 1:49pm Dec 19, 2010 1:49pm
I realize I should know this but what does FTA stand for.
  • #83,078
  • Dec 19, 2010 1:50pm Dec 19, 2010 1:50pm
Quoting fap103
I realize I should know this but what does FTA stand for.
Hey Fap

FTA = First trouble area

Mike
  • #83,079
  • Dec 19, 2010 1:55pm Dec 19, 2010 1:55pm
Quoting fxgroup
Thanks Jarroo for yours very useful charts and explanations....as always.Making a review study charts,I noticed a good oportunity(I missed)to enter in,after the weekly buob.

That was a great opportunity. Nice confluence of Support once Price broke through and closed above the strong PPZ level.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #83,080
  • Dec 19, 2010 2:14pm Dec 19, 2010 2:14pm
Quoting Pinbar
The Answer.

As expected Ghous was as usual SPOT ON!


Maybe a couple of months ago, I would probably have taken that PB.

Way to go Ghous

EDIT. better pic

Nice job guys.

Also something to look at on the 1st PB (chart).


The 2nd PB one was even more interesting . . . .
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Indicators show the past. Price Action "Indicates" the future.
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