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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

  • #84,781
  • Jan 6, 2011 7:04pm Jan 6, 2011 7:04pm
rahame[/quote]

dodgy keyboard should be grahame
  • #84,782
  • Jan 6, 2011 7:31pm Jan 6, 2011 7:31pm
Quoting Adilius07
Yes, starting late august I was trading less and took only those that are in my journal. Please click on my signature.

Edit: you can quickly access any trade from post no. 1. Just click on any trade.

Of course, I missed that for some reason.

I'll check them out.

Any one that stick out in your mind?
Indicators show the past. Price Action "Indicates" the future.
  • #84,783
  • Edited 10:23pm Jan 6, 2011 8:10pm | Edited 10:23pm
Quoting spookie94
so basically, when you are looking at areas of support its best to stick with the same TF as the setup. Is it better to go up in TF to find S/R level? On your Daily example earlier, once you find your s/r level on the daily would you see how price reacts on the weekly? Or is it simpler just to stick with one TF. Or is it best to mark the weekly s/r levels ahead of time before a setup even appears on a lower TF?

Thanks for the lead in to the Aud/Nzd Daily BUOB.

Yes, I like to look for PPZ levels on a higher TF, view them to see how they are acting as S/R . .meaning are they acting as Support or Resistance by how Price broke through and closed above or below and then look for opportunities on a lower TF.

The Daily BUOB on the Aud/Nzd gives a totally different look when you look at the Weekly first . . .which I failed to point out . .. But makes perfect sense why Price did, what it did on the Daily.

Let me know if the charts makes sense.
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Indicators show the past. Price Action "Indicates" the future.
  • #84,784
  • Edited 8:26pm Jan 6, 2011 8:15pm | Edited 8:26pm
Quoting Dan Gilbert
Thanks guys.

I would try to post more of my charts in the future, but my trading has been molded through various seniors in the thread, and probably wouldn't make much sense in regards to the "standard" method. I like to think I have come up with my own version of J16 PA trading
Dan

What do you think of NZDJPY I4B formed yesterday? It's has formed in an area where there has been some consolidation recently. 63 is a good PPZ. But not a BRN.

0908

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  • #84,785
  • Jan 6, 2011 8:29pm Jan 6, 2011 8:29pm
Quoting forex0908
Dan

What do you think of NZDJPY I4B formed yesterday? It's has formed in an area where there has been some consolidation recently. 63 is a good PPZ. But not a BRN.

0908

Attachment

No BRN . .No trade. Dan may say the same.
Indicators show the past. Price Action "Indicates" the future.
  • #84,786
  • Jan 6, 2011 8:35pm Jan 6, 2011 8:35pm
Quoting mbqb11
Thanks Jim

Yep, the breakout is of a wedge. This wedge is sitting on parity for a crazy long time. Price finally broke out end of last year and closed below this wedge for the first time in ages. We then pulled back(as happens so often). Parity is an amazing level to watch, just look at what price did last time it was there way back and consolidated(no surprise). We then formed PA that fits my criteria, on the pullback, now I let the market do what it whats. This is A+ in my book. What it does now? I have no idea, I just let my method do its thing....
This is fun to watch in real time, Mike . . .cool stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #84,787
  • Jan 6, 2011 8:39pm Jan 6, 2011 8:39pm
Quoting jarroo
This is fun to watch in real time, Mike . . .cool stuff.
LOL the eur/nzd is more fun though since it is in.... profit
  • #84,788
  • Jan 6, 2011 8:42pm Jan 6, 2011 8:42pm
Quoting mbqb11
LOL the eur/nzd is more fun though since it is in.... profit
Mike, how do you identify RNs on USDCAD? Are they 1.01, 1.02, 1.03 and so on?

0908
  • #84,789
  • Jan 6, 2011 8:43pm Jan 6, 2011 8:43pm
Quoting mbqb11
LOL the eur/nzd is more fun though since it is in.... profit

I'm sure everyone can see that its basically the same setup as the usd/cad . .although not a wedge breakout. . .wait a mintue . .let me check again lol
Indicators show the past. Price Action "Indicates" the future.
  • #84,790
  • Jan 6, 2011 8:44pm Jan 6, 2011 8:44pm
Quoting forex0908
Mike, how do you identify RNs on USDCAD? Are they 1.01, 1.02, 1.03 and so on?

0908
Hey Fx0908

Well round numbers I see as follows

00, 50s

Large round numbers every 100 pips
BRNs every 500 pips

But all numbers that end in 00, or 50 are technically in my round number book

Best
Mike
  • #84,791
  • Jan 6, 2011 8:45pm Jan 6, 2011 8:45pm
Quoting jarroo
I'm sure everyone can see that its basically the same setup as the usd/cad . .although not a wedge breakout. . .wait a mintue . .let me check again lol
a flag on the eur/nzd, but yeah close enough. Never know which one will "hit" we'll have to wait and see on usd/cad 1.00 is strong for now
  • #84,792
  • Jan 6, 2011 9:28pm Jan 6, 2011 9:28pm
Quoting mbqb11
a flag on the eur/nzd, but yeah close enough. Never know which one will "hit" we'll have to wait and see on usd/cad 1.00 is strong for now
I may need a chart to see that flag on the eur/nzd . what time frame? . .

Here's one I caught earlier to today Mike that I think you'll like.

4 Hour BEOB off the 1.5000. trendline and 150ema confluence . . entered 1.4995 retrace. I guess that's a touch trade but my TTs are almost always base on PA.

I took some off the table at 1.4900. Just waiting to see if the 1.4900 will fail as support or at least break through..
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Indicators show the past. Price Action "Indicates" the future.
  • #84,793
  • Jan 6, 2011 9:31pm Jan 6, 2011 9:31pm
Quoting jarroo
I may need a chart to see that flag on the eur/nzd . what TF? . .

Here's one I caught earlier to today Mike that I think you'll like.

4 Hour BEOB off the 1.5000. trendline and 150ema confluence . . entered 1.4995 retrace. I guess that's a touch trade but my TTs are almost always base on PA.

I took some off the table at 1.4900. Just waiting to see if the 1.4900 will fail as support or at least break through..
Nice J

I always like the smaller bars for better TT opportunities, when I watch them. May see further downside since it is friday and we could see continued profit taking(inability to break the BRN on a friday).

Here was the flag /horizontal breakout + PB
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  • #84,794
  • Jan 6, 2011 9:34pm Jan 6, 2011 9:34pm
Quoting mbqb11
Nice J

I always like the smaller bars for better TT opportunities, when I watch them. May see further downside since it is friday and we could see continued profit taking(inability to break the BRN on a friday).

Here was the flag /horizontal breakout + PB
Oh I see . .I wasn't going that far back on the daily . .cool.

Notice I change ."What TF?" to "What time frame" . . I didn't want to give the wrong expression . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #84,795
  • Jan 6, 2011 9:38pm Jan 6, 2011 9:38pm
Quoting jarroo
Oh I see . .I wasn't going that far back on the daily . .cool.

Notice I change ."What TF?" to "What time frame" . . I didn't want to give the wrong expression . . lol
hahah yeah I saw that
  • #84,796
  • Jan 6, 2011 9:41pm Jan 6, 2011 9:41pm
Quoting mbqb11
hahah yeah I saw that
The small size of the 4 hour BEOB was a concern but I gave more weight to the BRN and confluences . .the story fit for me on this one . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,797
  • Jan 6, 2011 9:47pm Jan 6, 2011 9:47pm
Quoting jarroo
The small size of the 4 hour BEOB was a concern but I gave more weight to the BRN and confluences . .the story fit for me on this one . .
make sense brotha nice trade are you still in this one?

Mike
  • #84,798
  • Jan 6, 2011 9:48pm Jan 6, 2011 9:48pm
Quoting mbqb11
make sense brotha nice trade are you still in this one?

Mike

Yeah I'm still in on this one.

I took some off the table at 1.4900. Just waiting to see if the 1.4900 will fail as support or at least break through.
Indicators show the past. Price Action "Indicates" the future.
  • #84,799
  • Jan 6, 2011 10:06pm Jan 6, 2011 10:06pm
Quoting jarroo
The small size of the 4 hour BEOB was a concern but I gave more weight to the BRN and confluences . .the story fit for me on this one . .
sorry i am lost about small beob in last commeny . any chance showing it again thanks.I think in your eu nzd chart somewheer but cant see it . Thanks.

and Kiss fan s comment I still could not understand the logic that he ignore that big bearish outside bar on e/usd to go long at 1.32740 to get his target tp of 1.34900 .. I mean the price was allready 50 pip short of that ppz area before it resumed this phase of decline where i spotted on 2 hourly bearish entry.But i dearly would like to know about this logic of going long if it is only about he liked last weeks enthusiastic after xmas new year syndrom buying frenzy on the weekly bar.

I mean some to me some corps maight have had needed to get some euros to pay wages and this pair has tendency to go up near the end of the month most of the time...So some comments will be welcomed thanks anyone?

Cheers V
  • #84,800
  • Jan 6, 2011 10:19pm Jan 6, 2011 10:19pm
Quoting menomoo
sorry i am lost about small beob in last commeny . any chance showing it again thanks.
Cheers V

Hey V.

The 4 Hour BEOB that I was refering to was on the Gbp/Chf.

Although the size is not that small, it is small compared to the size or strength of the recent momentum upward. A bigger size BEOB would simply be better to compensate for this big move up.
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Indicators show the past. Price Action "Indicates" the future.
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