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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

  • #86,341
  • Jan 19, 2011 7:39am Jan 19, 2011 7:39am
Could be a nice little trade if it could get past that FTA.
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  • #86,342
  • Jan 19, 2011 7:49am Jan 19, 2011 7:49am
Looks like it could close as a nice PB beneath 1.35

But with so many bar highs below, am I right to just watch it until it tests 1.3333?
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  • #86,343
  • Jan 19, 2011 7:56am Jan 19, 2011 7:56am
our prayers with you all bud . good to know you r ok !

Vito
  • #86,344
  • Jan 19, 2011 8:39am Jan 19, 2011 8:39am
Quoting the_wizard
Right. Limit Sell will be in Cable then at 1.6105.

Come on, baby.
so what have you done with it, have you sold any gbp?

I did again a flip flap and turned short on cbale again
http://www.forexfactory.com/showpost...ostcount=86292

but have been shorting the GBP from yesterday, including the crosses but not all of them performed as I would love to see.

Time to readjust my strategy, and to manage my position

all the best!

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  • #86,345
  • Jan 19, 2011 8:43am Jan 19, 2011 8:43am
Quoting jarroo
Let's see how this works out . .

A couple of Daily closes above the 1.5310-1.5300 . . so we look at this level as Support from previous Resistance.

On the Hourly we have a PB with a 61.8 fib confluence, some space, with the trend, . any thing else?

Should be fun to watch.
I'm starting to get a hang of your trading style J.
Great stuff
  • #86,346
  • Jan 19, 2011 8:50am Jan 19, 2011 8:50am
a/n approaching resistance-zone...
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meine augen sind die sterne
  • #86,347
  • Jan 19, 2011 8:55am Jan 19, 2011 8:55am
Dan...

Inside Bar on the GU on Daily TF at BRN 1.60... Any thoughts?

0908

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  • #86,348
  • Jan 19, 2011 9:48am Jan 19, 2011 9:48am
Anyone like EUR/CAD? It's just poked its head above 1.34 which is in confluence with the 38.2 fib, is on the second of 2 BUBs, slight divergence..

Can see an FTA at 1.3450 - then BRN 1.3500 then the 50% retracement in line with the 150 EMA as problems if it decides to run.

If that reverse H&S plays out that is one heck of a distance between the head and neckline..
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Anything can happen.
  • #86,349
  • Jan 19, 2011 9:58am Jan 19, 2011 9:58am
Quoting forex0908
Dan...

Inside Bar on the GU on Daily TF at BRN 1.60... Any thoughts?

0908

Attachment

that bar is not small enough relative to the bars preceding it. I like a tightly wound I4B, not just an inside bar.


EDIT: go look at the I4B straddling 1.0000 on USDCAD, dec 30.
Many choose unhappiness over uncertainty.
  • #86,350
  • Jan 19, 2011 12:55pm Jan 19, 2011 12:55pm
this 4 hour beob is working out nicely so far. moved stop to breakeven here.
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meine augen sind die sterne
  • #86,351
  • Jan 19, 2011 1:01pm Jan 19, 2011 1:01pm
Quoting aserbfx
this 4 hour beob is working out nicely so far. moved stop to breakeven here.
Very nice.
  • #86,352
  • Jan 19, 2011 1:03pm Jan 19, 2011 1:03pm
small pin on uj.
con: doesn't protrude a lot (under 82.00).
pro: but closing above the rn 82.00 and the 61.8% fib. cluster to the left.
fta is quite near at 82.35.
comments appreciated.
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meine augen sind die sterne
  • #86,353
  • Jan 19, 2011 1:23pm Jan 19, 2011 1:23pm
There seems to be a daily pin on the NZD in the making.

Pro:

- nice wick piercing through descending trend line
- close below RN (77, at least as it stands now)
- below 62 Fib on last 2 swings
- at a swing high
- similiar NZD weakness on other pairs

Neutral

- inside bar broke out as a fakey
- double highish looking pattern

Negative:

- FTA very close, heading into loads of traffic (boxes)
- USD weakness on other pairs
- against major trend

Too bad my feed didnt show aserbfx's BEOB... Let's see if the close stays below 77. It looks so pretty that bar
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  • #86,354
  • Jan 19, 2011 1:26pm Jan 19, 2011 1:26pm
Quote
small pin on uj.
con: doesn't protrude a lot (under 82.00).
pro: but closing above the rn 82.00 and the 61.8% fib. cluster to the left.
fta is quite near at 82.35.
comments appreciated.

Do you think it sticks out enough? Wouldn't really catch my eye plus it's against the MAJOR trend...
  • #86,355
  • Jan 19, 2011 1:35pm Jan 19, 2011 1:35pm
Anyone seen this pin at top of a range on silver? Been waiting for an entry here a while. Don't like how it didn't reach the BRN 30 but it lines up quite nicely with the box on the left and seemsto close below 29. FTA should be around 28.35. If it breaks 28 there could be a major correction. But then again with all this cheap money in the markets gold and silver might go up a bit further...
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  • #86,356
  • Jan 19, 2011 1:42pm Jan 19, 2011 1:42pm
BEOB formation at Swing High..?
Any1 going for dis?
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  • #86,357
  • Jan 19, 2011 2:02pm Jan 19, 2011 2:02pm
Hi,

Just wonderin' what d'ya all think of this potential short setup on the guppy?
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  • #86,358
  • Jan 19, 2011 2:08pm Jan 19, 2011 2:08pm
Quoting AvanishDemo
BEOB formation at Swing High..?
Any1 going for dis?
Hey Avanish

Careful for it to be a BEOB it must have a HIgher High then the previous bars High.

Best
Mike
  • #86,359
  • Jan 19, 2011 2:08pm Jan 19, 2011 2:08pm
Quoting Ted1983
Hi,

Just wonderin' what d'ya all think of this potential short setup on the guppy?
Hey Ted,

What is the setup you are looking for here, I don't see anything but a BEB. Some nice confluence though

Thanks
Mike
  • #86,360
  • Jan 19, 2011 2:17pm Jan 19, 2011 2:17pm
Got myself into heavy drawdown today.

Third trade of the New Year, not exactly what I wanted to do.

I dont have my Mt4 terminal up but here is what I was thinking. I definitely curve fitted this a little and I am still trying to get better with my patterns.

We had a BUOB 4HR at the 1.35 with alot of space a head of it. I tried to put together this head and shoulder pattern. I still think it can hold up but I am still holding a full position right now. I am hoping we make some kind of low and bounce above the 1.35, so I can logically move my stop up.

If this works out it, works out but looking back this is probably just a skip bar to be honest the size wasnt really there either.

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