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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

  • #85,261
  • Jan 11, 2011 6:47pm Jan 11, 2011 6:47pm
Quoting bluetrader
That's what happens to a company that loses exclusive US rights to the iPhone.

Nice to see PA show us the way.

-- Danny
Hey Danny,

How r ya mate ?

The thing that makes me think is that Verizon, the ones that got the rights to sell Iphones had a nice PB on the weekly chart at the 61.8% .. thought this news wud go it go up

Os.
Trade Smart
  • #85,262
  • Jan 11, 2011 7:00pm Jan 11, 2011 7:00pm
Quoting Osman
Hey Danny,

How r ya mate ?

The thing that makes me think is that Verizon, the ones that got the rights to sell Iphones had a nice PB on the weekly chart at the 61.8% .. thought this news wud go it go up

Os.
Hey Os, can you show the chart please, I don't understand what you mean?
  • #85,263
  • Jan 11, 2011 7:55pm Jan 11, 2011 7:55pm
I envision Euro to the mid 1.31 ish then down and down some more by spingtime.

K.I.S.S.
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  • #85,264
  • Jan 11, 2011 8:35pm Jan 11, 2011 8:35pm
Quoting jarroo
Cool . . Be Cool.

Should be interesting to see where Price closes today on the Daily Gbp/Nzd. . .
No surprises what happen here . .when Price broke through and closed above . . . and what's holding it down.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,265
  • Jan 11, 2011 8:39pm Jan 11, 2011 8:39pm
Quoting Adilius07
Hey Os, can you show the chart please, I don't understand what you mean?
Sure,

Verizon got the rights to sell Iphones in the US, it was something that many ppl were waiting as AT&T doesn't offers a great service, Verizon was gonna offer unlimited data plan and many ppl were going to move to verizon bla bla bla...
In conclusion being able to sell the Iphones was a great news for Verizon..


And here is the chart...

PB on the weekly at the 61.8% as At&t had a beob i thought verizon would have a bullish PA.

Os.
Attached Image (click to enlarge)
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  • #85,266
  • Jan 11, 2011 9:31pm Jan 11, 2011 9:31pm
Quoting jarroo
No surprises what happen here . .when Price broke through and closed above . . . and what's holding it down.
Jarroo,
Let me see if I can get inside your head on this one: Passed on a buy since it wasn't a true BUOB. Didn't play it as a break out because of the previous bars that broke the 2.0500 but failed to close above it. Don't want to get caught by a false break. Instead look for price to retrace to 2.0500 which now may act as support and wait for PA for a buy signal.
  • #85,267
  • Jan 11, 2011 9:53pm Jan 11, 2011 9:53pm
Quoting spookie94
Jarroo,
Let me see if I can get inside your head on this one: Passed on a buy since it wasn't a true BUOB. Didn't play it as a break out because of the previous bars that broke the 2.0500 but failed to close above it. Don't want to get caught by a false break. Instead look for price to retrace to 2.0500 which now may act as support and wait for PA for a buy signal.
Those are all vaild points spook, and a very good plan.

My purpose of posts like these are to show trading opportunities where PA can be found or to wait for PA to form or even a touch trade.

The tranformation of Strong Resistance turning into Strong Support (and vice versa) once Price breaks thru and closes above/below . .is a powerful thing. Add other confluences and of course, solid PA confirmation and you have a high probability situation.

I guess I'm just showing how these Support levels (Bullish PA) and Resistance levels (Bearish PA) are formed.
Indicators show the past. Price Action "Indicates" the future.
  • #85,268
  • Jan 11, 2011 9:59pm Jan 11, 2011 9:59pm
Quoting jarroo
Those are all vaild points spook, and a very good plan.

My purpose of posts like these are to show trading opportunities where PA can be found or to wait for PA to form or even a touch trade.

The tranformation of Strong Resistance turning into Strong Support (and vice versa) once Price breaks thru and closes above/below . .is a powerful thing. Add other confluences and of course, solid PA confirmation and you have a high probability situation.

I guess I'm just showing how these Support levels (Bullish PA) and Resistance levels (Bearish PA)...
These opportunities can come on many different time frames.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,269
  • Jan 11, 2011 10:06pm Jan 11, 2011 10:06pm
Quoting jarroo
Those are all vaild points spook, and a very good plan.

My purpose of posts like these are to show trading opportunities where PA can be found or to wait for PA to form or even a touch trade.

The tranformation of Strong Resistance turning into Strong Support (and vice versa) once Price breaks thru and closes above/below . .is a powerful thing. Add other confluences and of course, solid PA confirmation and you have a high probability situation.

I guess I'm just showing how these Support levels (Bullish PA) and Resistance levels (Bearish PA)...
What you are doing is very much appreciated. I was just trying to take it a step further. I feel I have a pretty good grasp of S/R levels I need more practice at the next step. I'm trying to intisapate what opportunities these areas can give and conclude which setup has the best chance for a win.
  • #85,270
  • Jan 11, 2011 10:18pm Jan 11, 2011 10:18pm
Quoting spookie94
What you are doing is very much appreciated. I was just trying to take it a step further. I feel I have a pretty good grasp of S/R levels I need more practice at the next step. I'm trying to anticipate what opportunities these areas can give and conclude which setup has the best chance for a win.

I understand. .what I do is just watch and see these situations develop and demo the hell out of them. . .be it a TT or PA .

Take the Chf/Jpy from this post . .excuse the mess.

Quoting jarroo
The top of the consolidation would be the final target where we would like to see Price break through this top and find Support up there and continue upwards.

Once we see this transformation over and over again on the current TF or on a lower TF your confidence begins to build.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,271
  • Jan 11, 2011 10:21pm Jan 11, 2011 10:21pm
Quoting jarroo
I understand. .what I do is just watch and see these situations develop and demo the hell out of them. . .be it a TT or PA .

Take the Chf/Jpy from this post . .excuse the mess.




Once we see this transformation over and over again on the current TF or on a lower TF your confidence begins to build.
continued . .throw in some supportive confluences. .
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #85,272
  • Jan 11, 2011 10:37pm Jan 11, 2011 10:37pm
Quoting KissFan
I envision Euro to the mid 1.31 ish then down and down some more by spingtime.

K.I.S.S.
K.I.S.S. I share your sentiments as well on the eur/usd....but i think it can go to about 1.3150.... based on your vision do you think 1.2977 is a good area to go long?
  • #85,273
  • Jan 11, 2011 10:41pm Jan 11, 2011 10:41pm
Quoting jarroo
continued . .throw in some supportive confluences. .
What do you guys think of this long?



Ideal Entry at the 50% retrace:
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  • #85,274
  • Jan 11, 2011 10:42pm Jan 11, 2011 10:42pm
Quoting g_j_hook@yah
yeah, looks interesting here for me also. i would normally love to trade a break north of this pattern, its one of my favs, but is it jus me or does anyone else get the feeling price jus doesnt want to go higher ??
Time will tel of course but i just cant get bullish this pair!?

jon

I agree GJ....I would like to see nice big Bearish PB off the 661.8.

Thanks GJ appreciate your input.
  • #85,275
  • Jan 11, 2011 10:46pm Jan 11, 2011 10:46pm
Quoting DBallerz
What do you guys think of this long?



Ideal Entry at the 50% retrace:
Do you have your Daily PPZ level at the .9850?
Indicators show the past. Price Action "Indicates" the future.
  • #85,276
  • Jan 11, 2011 10:58pm Jan 11, 2011 10:58pm
Quoting mbqb11
Thanks Jim

Yep, the breakout is of a wedge....
Broken down after a bit more wedging up, lets see what happens now
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  • #85,277
  • Jan 11, 2011 11:03pm Jan 11, 2011 11:03pm
Quoting jarroo
Do you have your Daily PPZ level at the .9850?

I have it at the .9850 too DBaller . .

I'm looking at the .9850 to act as Resistance now, since Price broke through and closed below it. We have had . .and still may have . .a strong move down.

I view this as a shorting opportunity.
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Indicators show the past. Price Action "Indicates" the future.
  • #85,278
  • Jan 11, 2011 11:08pm Jan 11, 2011 11:08pm
Quoting mbqb11
Broken down after a bit more wedging up, lets see what happens now

Looks like the sky the limit if we can stay past the .9900. . .that's limit down . .

Maybe add to your position Mike . .

Classic Mike setup working out to perfection.
Indicators show the past. Price Action "Indicates" the future.
  • #85,279
  • Jan 11, 2011 11:08pm Jan 11, 2011 11:08pm
Quoting jarroo
Do you have your Daily PPZ level at the .9850?
.9856
  • #85,280
  • Jan 11, 2011 11:09pm Jan 11, 2011 11:09pm
Quoting DBallerz
.9856

The same with me .. .
Indicators show the past. Price Action "Indicates" the future.
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