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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

  • #87,661
  • Feb 2, 2011 5:18am Feb 2, 2011 5:18am
Quoting sr2
I also took this trade currently as follows:

half out at +30 pips
quarter out +83 pips
final quarter currently at +160 pips (SL at BE) - Now closed for +160pips

TP set to 1.6250

Wasn't the best setup but the BUOB was strong (for me) and the close of the BUOB above 1.6 was the first time it closed above 1.6 since Nov.

Will watch for an hour or so with a view to close soon.

SR2
Good moves SR2
  • #87,662
  • Feb 2, 2011 5:19am Feb 2, 2011 5:19am
Quoting jarroo
Not the best in size but the the location was very good 1.3650.. .Daily/Weekly Support level. What would you think of it if the Daily closed below the 1.3650??
I wouldn't see it carrying such an heavy load for long!
  • #87,663
  • Feb 2, 2011 5:24am Feb 2, 2011 5:24am
Quoting Greenhaze
Nice one

... that one looks juicy Pozdro...
Hey Greenhaze, I remember you posting way back in the thread your observations on the EURSEK.

I'm riding the break of this bullish pinbar. It looks better on the 3H. Given that 8.8000 couldn't be broken I though it was worth a shot. I doubt it's going to change the overall down trend, and I'm cautious that it may not reach the 9.000 BRN but it may be worth observing.

Things really got hot once the FTA broke through.

* Posted chart is 4H. 3H is on another broker/computer.

Infact, anyone using NY close on an apple mac? I have MT4 FxPro on PC and I don't want a PC emulator on my apple.
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  • #87,664
  • Feb 2, 2011 5:37am Feb 2, 2011 5:37am
Quoting sammy31
yes I am.

My posts seem to take long as I am a new member and have to go through the moderation queue.

I have had to repost this as my posts seem to take long as I am a new member and have to go through the moderation queue.

It's regarding how to post a chart. I use MT4
  • #87,665
  • Edited 6:00am Feb 2, 2011 5:58am | Edited 6:00am
Hi folks. Jim, Mike, or anyone else, any comments/criticisms on the below setup?

 

  1. Downtrend
  2. Consildation above a level, also RN
  3. Fllowed by a bearish engulfing with a decent close below the level


Sell on a retracement to the level sounds like a high probability setup to me, with a target of 9300.

SG.

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  • #87,666
  • Feb 2, 2011 6:01am Feb 2, 2011 6:01am
Hi Sammy

This is how I attach images. I use Windows, and am not sure about Mac

Right click the screen
Select Save as Picture
Select Active Chart (as is)
Name the chart and a good place to store it

The picture then opens in Windows photo viewer

On the top left of screen, click Open
Select Paint

Edit as you like

In the file tab
Select Save as JPeg Picture

Name it and store it

When you want to attach it in a reply to thread

Go down to Manage Attachments

Choose file

Upload

Submit reply
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  • #87,667
  • Feb 2, 2011 6:25am Feb 2, 2011 6:25am
Not going to jump the gun on this one.
Will wait for the daily close. I might miss the action, but I'll get to keep my shirt a little longer.
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  • #87,668
  • Feb 2, 2011 6:31am Feb 2, 2011 6:31am
Very nice setup on E-J, a 2_D BEOB, price pulled back to a double top on the 2_D-TF. Price gave me a selltrigger on the 1H-TF via a 1H-BEOB. My intention is to preempt a possible break of the 2_D BEOB .............

(BTW. for those who are interested: when price touched that double top it also completed a so called Quasi-pattern)
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Pipcrawler
  • #87,669
  • Feb 2, 2011 6:32am Feb 2, 2011 6:32am
Quoting Ifmyante
Hi Sammy

This is how I attach images. I use Windows, and am not sure about Mac

Right click the screen
Select Save as Picture
Select Active Chart (as is)
Name the chart and a good place to store it

The picture then opens in Windows photo viewer

On the top left of screen, click Open
Select Paint

Edit as you like

In the file tab
Select Save as JPeg Picture

Name it and store it

When you want to attach it in a reply to thread

Go down to Manage Attachments

Choose file

Upload

Submit reply

Thank you Mike, that is great help.
  • #87,670
  • Feb 2, 2011 6:59am Feb 2, 2011 6:59am
Here's a mildly interesting one on EURUSD.

On the longer term weekly, the level looks like it's at 1.3800, but moving to the daily the recent price action suggests 137500 is currently more relevant.

 

  1. Resistance coming up to the level
  2. Daily bar push through and decent close above RN
  3. 38.2 fib retracement
  4. Possible target of recent swing high 138500..


What do you guys think..

SG

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  • #87,671
  • Edited 7:36am Feb 2, 2011 7:19am | Edited 7:36am
No problem Sammy. I hope it helps


Has this been mentioned today?

Daily unable to close under 1.60

New BUEOB from there, still unbroken, with room to move(1.61 quite possible)

Paying 12 pip spread is anathema to me, so just watching!

Edit: My bad. It did close below
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  • #87,672
  • Feb 2, 2011 7:31am Feb 2, 2011 7:31am
Quoting Sgrb1
Here's a mildly interesting one on EURUSD.

On the longer term weekly, the level looks like it's at 1.3800, but moving to the daily the recent price action suggests 137500 is currently more relevant.



What do you guys think..

SG
Don't tempt me to go looking long term again

I'm only just getting settled into my Baby Steps mentality
  • #87,673
  • Feb 2, 2011 8:01am Feb 2, 2011 8:01am
Quoting Sgrb1
Hi folks. Jim, Mike, or anyone else, any comments/criticisms on the below setup.....
Looks like I've missed this opportunity by a few pips. My opinion would be that it's moved too far in the right direction now to want to take this if it got back to the level.
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  • #87,674
  • Feb 2, 2011 8:25am Feb 2, 2011 8:25am
Quoting Sgrb1
Hi folks. Jim, Mike, or anyone else, any comments/criticisms on the below setup?

 

  1. Downtrend
  2. Consildation above a level, also RN
  3. Fllowed by a bearish engulfing with a decent close below the level


Sell on a retracement to the level sounds like a high probability setup to me, with a target of 9300.

SG.

Hey SG

Notice this bar is at a swing low, remember James teaches us to learn these at swing high points first. So just be cautious when first learning these I think learning them where James teaches is easier before trying to play continuations

Best
Mike
  • #87,675
  • Feb 2, 2011 8:37am Feb 2, 2011 8:37am
Quoting jarroo
Mine is not updating either (FxPro) .. .
Thanks j

glad its not just an issue with me. Its been like this since last week?

SR2
  • #87,676
  • Feb 2, 2011 8:41am Feb 2, 2011 8:41am
Quoting sr2
Thanks j

glad its not just an issue with me. Its been like this since last week?

SR2
Hey SR2

Make sure to right click and click show ALL to get the updated contracts NGH1
  • #87,677
  • Feb 2, 2011 9:30am Feb 2, 2011 9:30am
Quoting jarroo
Yes you're right Adilius. These are PPZones and its much easier to think of them that way.

But what I like to do, is fine tune them down to the areas between their Closes.

So for example on the Eur/Cad, the Highest Close of the Resistance level of the PPZ level is 1.3660. And the Lowest Close of the Support level of the PPZ is 1.3675.

You can also do this with the Highest High of the Resistance level and the Lowest Low of the Support level. I find that where Price closes as it relates to a given level more important.

Notice...
Thanks Jarroo for clarification. Yes just as you pointed (and as I was thinking I like the idea and I think that would be pretty close to the exact level you show) the HH or the LL - I like to mark them as my PPZ (that gives me some "systmeatic" feeling and I don't have to second guess myself) actually I take the High and the "closest close to that high" as one zone.

I think for me to get the precise level/line would be hard at this point of my learning curve, so just like you said I will look for HH or LL with their corresponding closes... that would give me one objective zone.

Like on the pic below (yes it's kinda wide but I think it will give me much less hassle and it is still PPZ but more of a zone than level...)
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  • #87,678
  • Feb 2, 2011 9:41am Feb 2, 2011 9:41am
Hey Jarroo

Thanks for all these lessons on PPZ.........when it comes to them you a' da man!!
  • #87,679
  • Feb 2, 2011 9:51am Feb 2, 2011 9:51am
Quoting sammy31
There is an inside bar on cable, is that a good setup?
Hey Sammy

Since the 4hr is only 4 hours of data you will have lots of inside bars. They are super tricky to play let alone on the lower timeframes. I suggest sticking to (like James) daily/weekly especially when trying to learn a tricky bar like the inside bar. Remember all this inside bar represents is a consolidation of price. So by trading this one we would simply be trading a breakout of the last 4hrs of data. There isn't much else to go on her in terms of confluence we are just sort of trending higher. If you have some s/r, PPZ, other stuff to go on to give you an idea why an inside bar should break out it makes it a lot easier. Because of the nature of a 4hr timeframe you will have lots of IBs popping up left and right and it can be very difficult to grasp them. I would start with daily/weekly timeframes especially for these bars.

Best
Mike
  • #87,680
  • Feb 2, 2011 9:52am Feb 2, 2011 9:52am
There is an inside bar on cable, is that a good setup?

Thanks Mike I have managed to post my first chart.
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