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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

  • #89,001
  • Feb 14, 2011 1:13pm Feb 14, 2011 1:13pm
Quoting jarroo
It sure likes that PPZ level at the 1.3375 level.

I agree Sgr, a nice close below would be sweet . .
And Yes . . . a strong close above . .forming a nice PB . .would be sweet too . . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,002
  • Feb 14, 2011 1:24pm Feb 14, 2011 1:24pm
Quoting mbqb11
another one we've been watching. That's fun stuff right there
I'm having a brain fart . . .what am I missing here . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,003
  • Edited 1:44pm Feb 14, 2011 1:28pm | Edited 1:44pm
Quoting jarroo
I agree with sChoas. .we can only have high probability level. . . and I define that the best ones are the ones that show multiple Highs, Lows (PPZ levels) and even Closes lining up that are clear, tight, obvious, standing out, (I'm trying to think of other adjectives).

I do favor the most recent of this level building as oppose to the ones that are far out in history . .meaning way far out . . like years ago.

We can find these level at the tops and bottoms of consolidation areas and of course, BRNs and RNs.

Take the GU at the 1.5350 level....

Here's a current example gladiador123 . .on the Nzd/Usd . .nice clear levels on the top and bottom on this consolidation.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,004
  • Feb 14, 2011 1:29pm Feb 14, 2011 1:29pm
Quoting jarroo
I'm having a brain fart . . .what am I missing here . .
.
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  • #89,005
  • Feb 14, 2011 1:30pm Feb 14, 2011 1:30pm
Quoting mbqb11
.

See . .there I go thinking again . .lol . .I was looking at the 110.00 BRN for something . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,006
  • Feb 14, 2011 1:36pm Feb 14, 2011 1:36pm
indians nifty looks juicy on the weekly. high was taken outr today.
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meine augen sind die sterne
  • #89,007
  • Feb 14, 2011 1:45pm Feb 14, 2011 1:45pm
Jarroo,

I noticed EU made a similar move to EUGB with a pull back to 1.3500 on 4h chart.
There was also a similar move after we broke 1.3570 level.
I prefer the second trade as the move through 1.35 is move powerful.
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  • #89,008
  • Feb 14, 2011 1:56pm Feb 14, 2011 1:56pm
Quoting Chelski
Jarroo,

I noticed EU made a similar move to EUGB with a pull back to 1.3500 on 4h chart.
There was also a similar move after we broke 1.3570 level.
I prefer the second trade as the move through 1.35 is move powerful.

Do you mean to continue short?
Indicators show the past. Price Action "Indicates" the future.
  • #89,009
  • Feb 14, 2011 2:00pm Feb 14, 2011 2:00pm
Quoting jarroo
Do you mean to continue short?
Yes, but the pattern and pull back is similar to EUGB the way it broke .8500 level then pulled back and continued. You posted with Dan i think.
  • #89,010
  • Feb 14, 2011 2:03pm Feb 14, 2011 2:03pm
I have not come across the wedge before, could someone please explain this pattern and why it is so important that some people only trade once or twice a year based on it?


Quoting jarroo
Hey Mike . .How's my form fitted wedge on the Weekly Nzd/Jpy . .
  • #89,011
  • Feb 14, 2011 2:05pm Feb 14, 2011 2:05pm
Quoting aserbfx
aon on weekly
check for breakout next week.
buy stop got triggered.
currently about +1,6% up at 50.80 usd. i take first 1/3 off here.
god, i love that stuff...
meine augen sind die sterne
  • #89,012
  • Feb 14, 2011 2:13pm Feb 14, 2011 2:13pm
Quoting Chelski
Yes, but the pattern and pull back is similar to EUGB the way it broke .8500 level then pulled back and continued. You posted with Dan i think.
I see. Yes, that was a very strong, robust break of the 1.3500 BRN on the 4 Hour. a nice Price flip . My concern is with the consolidation on the Daily that its running into. . .this may not be a problem if Price can close below the 1.3500 or 1.3400 on the Daily.

From how it looks now . .Price is revisiting previous Resistance and down we go is very possible.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,013
  • Feb 14, 2011 2:19pm Feb 14, 2011 2:19pm
Quoting jarroo
I see. Yes, that was a very strong, robust break of the 1.3500 BRN on the 4 Hour. a nice Price flip . My concern is with the consolidation on the Daily that its running into. . .this may not be a problem if Price can close below the 1.3500 or 1.3400 on the Daily.

From how it looks now . .Price is revisiting previous Resistance and down we go is very possible.
We tested 13450 level, on lower TF i liked it as a little scalp play. Stop quickly to BE and see if we get a ride.
  • #89,014
  • Feb 14, 2011 2:26pm Feb 14, 2011 2:26pm
Quoting Chelski
We tested 13450 level, on lower TF i liked it as a little scalp play. Stop quickly to BE and see if we get a ride.

That was a buy, right? That makes a little more sense to me from what is going on . on the Daily. But I would like to see Price break up through the 1.35 and hold Support. . .again to have the Daily consolidation to help support it.

But it looks like if Price continues to move lower, it will find these previuos Resistance levels (from the Daily consolidation top) reactivated.

I'll be back later

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #89,015
  • Feb 14, 2011 2:36pm Feb 14, 2011 2:36pm
Quoting jarroo
That was a buy, right? That makes a little more sense to me from what is going on . on the Daily. But I would like to see Price break up through the 1.35 and hold Support. . .again to have the Daily consolidation to help support it.

But it looks like if Price continues to move lower, it will find these previuos Resistance levels (from the Daily consolidation top) reactivated.

I'll be back later

Jim
dont forget about the weekly jim

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Hero calls followed by margin calls...
  • #89,016
  • Feb 14, 2011 2:52pm Feb 14, 2011 2:52pm
eur/chf with a daily beob. fta is quite near at 1.3000. so if you take the trade, put sl to break even near 1.3000.
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meine augen sind die sterne
  • #89,017
  • Feb 14, 2011 3:16pm Feb 14, 2011 3:16pm
ne with a breakout and return in the rectangle. 45 usd as a possible target.
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meine augen sind die sterne
  • #89,018
  • Feb 14, 2011 3:21pm Feb 14, 2011 3:21pm
Quoting aserbfx
eur/chf with a daily beob. fta is quite near at 1.3000. so if you take the trade, put sl to break even near 1.3000.

Hi Aser,

I was looking at this setup, in my feed (fxpro) today's candle is 2 pips lower than Fridays but leaving that aside, to make this setup valid imho we need a close below the blue line, see that its a ppz where the price have fliped few times, so in order to make it valid I personally would need a close below that area, the setup could work.. this is just my personal opinion.

Os.
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Trade Smart
  • #89,019
  • Feb 14, 2011 3:43pm Feb 14, 2011 3:43pm
Quoting sammy31
I have not come across the wedge before, could someone please explain this pattern and why it is so important that some people only trade once or twice a year based on it?

Here's the best source in the world on trading these patterens and alot of other great information as well ..

Just click on the mbqb11's user name . .then attachments . . and then your study begins.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,020
  • Feb 14, 2011 3:44pm Feb 14, 2011 3:44pm
Quoting jarroo
Here's the best source in the world on trading these patterens and alot of other great information as well ..

Just click on the mbqb11's user name . .then attachments . . and then your study begins.

He's a good one too . .
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Indicators show the past. Price Action "Indicates" the future.
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