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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

  • #87,701
  • Feb 2, 2011 2:24pm Feb 2, 2011 2:24pm
Quoting Adilius07
I saw this mentioned several times, not only by Jarroo, can someone explain to me in short why is this important? ( for the high of the setup bar to be the highest high of the swing - for short setup)

I feel that it has something to do with price trying to take new highs but fail... But I know this is primitive, there must be some more solid logic behind it.

If anyone can explain in short...
Yep you got it adi. It lets us know what kind of orderflow existed above the current highs(highs and lows are major points in market place both short and long term). Just another piece to the puzzle

Best
Mike
  • #87,702
  • Feb 2, 2011 2:28pm Feb 2, 2011 2:28pm
Quoting mbqb11
Yep you got it adi. It lets us know what kind of orderflow existed above the current highs(highs and lows are major points in market place both short and long term). Just another piece to the puzzle

Best
Mike
Thanks Mike, this time my gut feeling was right
So is like price printed above the existing high (making new high) and was immediately reversed by bearish order flow...which gives us a hint that bears are there and probably strong (if they were able to reverse the highest high)...
I will view it this way, thanks
  • #87,703
  • Feb 2, 2011 2:34pm Feb 2, 2011 2:34pm
Quoting Adilius07
Thanks Mike, this time my gut feeling was right
So is like price printed above the existing high (making new high) and was immediately reversed by bearish order flow...which gives us a hint that bears are there and probably strong (if they were able to reverse the highest high)...
I will view it this way, thanks
Yep you got it bud. Now it depends how far down were they able to reverse it? Where were they able to reverse it to? Where could they close the bar? and you sort of will just work through these types of questions for each trade as best you can and we see what kind of story unfolds.

But I have found both keeping it simple and the little things , go a long way
Mike
  • #87,704
  • Feb 2, 2011 2:44pm Feb 2, 2011 2:44pm
Quoting mbqb11
Yep you got it bud. Now it depends how far down were they able to reverse it? Where were they able to reverse it to? Where could they close the bar? and you sort of will just work through these types of questions for each trade as best you can and we see what kind of story unfolds.

But I have found both keeping it simple and the little things , go a long way
Mike
Thanks! All this become more and more interesting each day!
  • #87,705
  • Feb 2, 2011 2:47pm Feb 2, 2011 2:47pm
UPDATE: http://www.forexfactory.com/showpost...ostcount=87349

Not exactly ripping through the chop, but it is trying...
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Many choose unhappiness over uncertainty.
  • #87,706
  • Feb 2, 2011 3:02pm Feb 2, 2011 3:02pm
What do you guys think about this pin bar here? A+ set up?
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  • #87,707
  • Feb 2, 2011 3:42pm Feb 2, 2011 3:42pm
Quoting DBallerz
What do you guys think about this pin bar here? A+ set up?
Hey DB

Notice how the high of the pinbar doesn't extend very high above the previous bars high. We want it to stick out further then that.

Here are a few pinbars I would like to see you picking out

Now let's see you post a chart with ones like this(even if it already occurred) so I can see if you get that

Best
Mike
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  • #87,708
  • Feb 2, 2011 3:43pm Feb 2, 2011 3:43pm
Quoting Dan Gilbert
UPDATE: http://www.forexfactory.com/showpost...ostcount=87349

Not exactly ripping through the chop, but it is trying...
It's trying

Where is your stop at now?

Mike
  • #87,709
  • Feb 2, 2011 3:46pm Feb 2, 2011 3:46pm
Quoting gasgas
Tnx for the answer Mike

Sure thing, kinda small bar against that up move latelly. Im demoing this one with a tide managment. Gona see if any chance that price break that TL
Dropped like a rock

Not much to say when that happens

Best
Mike
  • #87,710
  • Feb 2, 2011 3:52pm Feb 2, 2011 3:52pm
Quoting mbqb11
Hey SR2

Make sure to right click and click show ALL to get the updated contracts NGH1
Hey Mike

Sorry I think I'm being a Homer. I've never traded futures before...started looking at them very recently thanks to Mr Wizard. I was looking at the NGG1 chart which I assume has now become the NGH1 chart because we are in Feb?

Apologies if that is the case...new to futures

Thanks
SR2
  • #87,711
  • Feb 2, 2011 3:54pm Feb 2, 2011 3:54pm
OMG u saw that to !?

Where that volatility come from lol....weird haha. Watch it and thought my mt4 lost it complitely
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  • #87,712
  • Feb 2, 2011 3:55pm Feb 2, 2011 3:55pm
Quoting mbqb11
Dropped like a rock

Not much to say when that happens

Best
Mike
Nice fundamental help on that one. I don't know why, but it pushed AUD up
  • #87,713
  • Feb 2, 2011 4:05pm Feb 2, 2011 4:05pm
Thanks mbqb! Will do!

I've been watching some of James' videos and him stressing on moving positions to B/E ASAP. Take out half position at TP and let the others run for profit. Here is a Excel spreadsheet I've created for others to see the power of that technique.
Attached File(s)
File Type: xls Pip Calculator.xls   38 KB | 602 downloads
  • #87,714
  • Feb 2, 2011 4:21pm Feb 2, 2011 4:21pm
Quoting Ifmyante
Nice fundamental help on that one. I don't know why, but it pushed AUD up
Damn, I fell stupid. Wasn't aware about that fundamentals.
  • #87,715
  • Feb 2, 2011 4:23pm Feb 2, 2011 4:23pm
Quoting gasgas
Damn, I fell stupid. Wasn't aware about that fundamentals.
Your SL should cover all fundies, it seems.

Although I wouldn't be trading fibre 10 minutes before NFP

Minor Aussie news in 7 minutes
  • #87,716
  • Feb 2, 2011 4:25pm Feb 2, 2011 4:25pm
Quoting gasgas
Damn, I fell stupid. Wasn't aware about that fundamentals.
Don't worry G, I am never aware of fundamentals, and purposely


Best
Mike
  • #87,717
  • Feb 2, 2011 4:27pm Feb 2, 2011 4:27pm
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.

 

  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

I agree with the 1.3750 . . . your proof of this is on your Daily chart at that level. Good potential Support level.
Indicators show the past. Price Action "Indicates" the future.
  • #87,718
  • Feb 2, 2011 4:29pm Feb 2, 2011 4:29pm
Quoting mbqb11
It's trying

Where is your stop at now?

Mike
I actually didn't have any idea how I would go about trading this.

1. no clear previous resistance to place stop behind
2. lots of trouble areas above
3. couldn't find a legitimate way to make the R/R worth the risk
4. silver looks sort of like a turnover with more downside to be expected



basically, it is just something I am intrigued from the sidelines with
Many choose unhappiness over uncertainty.
  • #87,719
  • Feb 2, 2011 4:33pm Feb 2, 2011 4:33pm
Quoting Dan Gilbert
I actually didn't have any idea how I would go about trading this.

1. no clear previous resistance to place stop behind
2. lots of trouble areas above
3. couldn't find a legitimate way to make the R/R worth the risk
4. silver looks sort of like a turnover with more downside to be expected



basically, it is just something I am intrigued from the sidelines with

The 28.00 looks like a good Price Filp . . meaning its now Support.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,720
  • Feb 2, 2011 4:33pm Feb 2, 2011 4:33pm
Quoting Dan Gilbert
I actually didn't have any idea how I would go about trading this.

1. no clear previous resistance to place stop behind
2. lots of trouble areas above
3. couldn't find a legitimate way to make the R/R worth the risk
4. silver looks sort of like a turnover with more downside to be expected



basically, it is just something I am intrigued from the sidelines with
Me too bud, see it the same way. Was interesting one to keep an eye on

Mike
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