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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

  • #88,841
  • Feb 13, 2011 12:54am Feb 13, 2011 12:54am
Wow, wasn't this monthly PB a beauty and still in play while I was taking that long daily PB. LoL
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  • #88,842
  • Feb 13, 2011 1:25am Feb 13, 2011 1:25am
USD index weekly pb triggered. 79 is the area of interest.
Nice short opportunity on GU. lack of upside momentum on lower tfs and strong rejection of 1.6034 resistance + close under the 1.6010.... awaitng monday open
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  • #88,843
  • Feb 13, 2011 1:39am Feb 13, 2011 1:39am
Many Thanks Ghous
Great explanation, its the little things that are such an help like taking the fib at a higher level and seeing more s and r at a different level, many thanks
Great work by Pinbar too, you must be one of the hardest workers and best studiers on the site, keep it up, all very much appreciated

respect to all

Tom (uk)
  • #88,844
  • Feb 13, 2011 2:19am Feb 13, 2011 2:19am
Hi guys,

I'm just watching the charts and I'd like to know your ideas about these 2 situation. I'm curious to see IF you would take this trades and, if the answer is yes, HOW.

First one: EURUSD on daily.
can this be considered a "Head and Shoulders" pattern?
I don't like the location very much since it is right above the PPZ at 1.34, BUT if during this week we'll see a break under this level.. I think a short could be an idea (and the consolidation box in grey?).

Second one: NZDJPY on daily.
Would you play this as a breakout trade?
Whats the name of this pattern? Consolidation triangle??
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  • #88,845
  • Feb 13, 2011 2:25am Feb 13, 2011 2:25am
wab on weekly showing an interesting setup to come.
low volume, so use limit orders.
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meine augen sind die sterne
  • #88,846
  • Feb 13, 2011 2:35am Feb 13, 2011 2:35am
Quoting bakko85
Hi guys,

I'm just watching the charts and I'd like to know your ideas about these 2 situation. I'm curious to see IF you would take this trades and, if the answer is yes, HOW.

First one: EURUSD on daily.
can this be considered a "Head and Shoulders" pattern?
I don't like the location very much since it is right above the PPZ at 1.34, BUT if during this week we'll see a break under this level.. I think a short could be an idea (and the consolidation box in grey?).
Hi Bakko,

The EUR/USD head & shoulder is much more evident on the 4H TF. Possible areas that get me worried are the RN1.35 & if this is broken PPZ of 1.34.

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On the weekly we are going into the highlighted box. This boxed area also gets me worried. These are somethings that I have taken into consideration.
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  • #88,847
  • Feb 13, 2011 2:36am Feb 13, 2011 2:36am
Quoting bakko85
First one: EURUSD on daily.
can this be considered a "Head and Shoulders" pattern?
I don't like the location very much since it is right above the PPZ at 1.34, BUT if during this week we'll see a break under this level.. I think a short could be an idea (and the consolidation box in grey?).
I will have shot at that one. I wouldnt like to have any shorts against that weekly brickwall level, especially at the first test after breakout. Touch trade with tighter sl on weekly or some good bullish, lower tf pa at this level might be better option Imo.
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  • #88,848
  • Feb 13, 2011 3:27am Feb 13, 2011 3:27am
Quoting Pinbar
Working on single bar analysis as I think this may be the key to keeping it simple and gaining deeper insight into what the big guy is doing.

I thought I would post a short video so the seniors can see what I am up to and hopefully correct any errors.

Note, I am not even looking if these are good setups at a good location or not, I am taking them purely at face value and trying to work out the puzzle from the hints provided by price.

http://www.youtube.com/watch?v=9TZtqNuhKp4
Great vid Steve
  • #88,849
  • Feb 13, 2011 3:31am Feb 13, 2011 3:31am
how do you guys get these 2 day, 2hr, 8 hr time frames?
  • #88,850
  • Feb 13, 2011 4:07am Feb 13, 2011 4:07am
Shorts??
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  • #88,851
  • Feb 13, 2011 4:27am Feb 13, 2011 4:27am
Quoting Fxpat
Shorts??

Fxpat

I'm no expert at this. But here is my two cents.

We are going straight into BRN2.1000. This is a nice ppz area which has acted as support & resistance on a number of previous occasions. The PB is not the best as well. Maybe a better play would be a break of the multiple bar highs (the resistance which I have highlighted) once confirmed by PA.


Harry
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  • #88,852
  • Feb 13, 2011 4:28am Feb 13, 2011 4:28am
How does this shape up as a pin bar on the gbp/nzd?

Pros
- PB PA
- 2.1000-2.1100 PPZ respected since 7th May 2010
- Overall downtrend on the weekly
- At confluence with the 150 EMA

Cons
- Uptrend on daily (PB on 2.000 VBRN)
- Sitting right above 2.1000 BRN that may prove troublesome.

Happy Sunday

Edit: Looks like someone beat me to it (above). 1st chart is daily, 2nd weekly.
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  • #88,853
  • Feb 13, 2011 4:36am Feb 13, 2011 4:36am
Quoting bakko85
Hi guys,


Second one: NZDJPY on daily.
Would you play this as a breakout trade?
Whats the name of this pattern? Consolidation triangle??
Hi Bakko,

First, let me say I am not a senior here at J16, although my age and body parts are.

Appears to me the pattern is a symmetrical triangle which implies it could breakout either way.

As an exercise for me, I try to look at which way it will break. So, I am posting this chart. When this type of triangle occurs, I look at the lower time frames for a possible signal. I look at this type of pattern as a battle of the bulls and bears, but don't know truly if this is correct. As I see from the 4H TF, the gradual up moves denoted by the rough channels that I drew point up with several beobs down. Hence, the battle of the bulls and bears. Who will prevail?

Even if there is a breakout, ask yourself where is the FTA and is it worth it?
Would you dare to buy/sell a pure break or would you wait for a signal/confirmation?

For me there is just to much conflicting information long or short and therefore if I have to think this hard about it then I will stay out and watch.

I want to see clearly, what everyone else is seeing in plain view to go long or short. And, it is just not apparent. So, I will wait.

IMO, at this time there is just to much overhead R and below to much S.

Sorry, if my chart is not simple which I try to always do, but just trying to exemplify the battle. It is abnormal for me to put this channels, etc. on my charts, but thought this may help.

Just some thoughts, although they may not be correct.

Peace,

Bill
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  • #88,854
  • Feb 13, 2011 4:37am Feb 13, 2011 4:37am
Quoting DBallerz
how do you guys get these 2 day, 2hr, 8 hr time frames?

Here you go.
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Attached File(s)
File Type: mq4 CandleAggregator.mq4   5 KB | 503 downloads
  • #88,855
  • Feb 13, 2011 4:42am Feb 13, 2011 4:42am
Quoting Pinbar
Here you go.
Too many variables!

I'm sticking to Pinbars and default timeframes
  • #88,856
  • Feb 13, 2011 5:25am Feb 13, 2011 5:25am
Quoting 5.25
Too many variables!

I'm sticking to Pinbars and default timeframes
Me too but, it is handy to have on the charts.
  • #88,857
  • Feb 13, 2011 5:41am Feb 13, 2011 5:41am
Hello Ghous

What are your thoughts on the following as an Inside Bar short trade?

First chart is EUR USD daily showing the Resistance level and where the Inside Bar is located on smaller timeframe.

Second chart is the smaller timeframe, 4h.

http://2.bp.blogspot.com/-r4_-6f_5Rp...%2BEXAMPLE.png

http://2.bp.blogspot.com/--vfv7S1sYd...2BBAR%2B4H.png
  • #88,858
  • Feb 13, 2011 5:54am Feb 13, 2011 5:54am
Quoting Atc
Great vid Steve
Thanks ATC...Got to simplify things.
  • #88,859
  • Feb 13, 2011 6:12am Feb 13, 2011 6:12am
Quoting crusen
Hello Ghous

What are your thoughts on the following as an Inside Bar short trade?

First chart is EUR USD daily showing the Resistance level and where the Inside Bar is located on smaller timeframe.

Second chart is the smaller timeframe, 4h.

http://2.bp.blogspot.com/-r4_-6f_5Rp...%2BEXAMPLE.png

http://2.bp.blogspot.com/--vfv7S1sYd...2BBAR%2B4H.png
Looks good Crusen,

Did you notice the 'confluence' there?

We had the 61.8 in line with the PPZ area.

Did you take this trade?

g.
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I believe . . .
  • #88,860
  • Feb 13, 2011 6:13am Feb 13, 2011 6:13am
Do you like French cars?
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Nothing personal,just business
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