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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

  • #89,201
  • Feb 16, 2011 6:51am Feb 16, 2011 6:51am
Here's one..... but check out the g/cad and g/aud..... feed fxpro

I believe the Great Britain negative unemployment news helped
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  • #89,202
  • Feb 16, 2011 7:04am Feb 16, 2011 7:04am
Quoting supremeChaos
u took the H4 PB?

-this PB is relatively small...
Thanks SC

It obviously was a pass for you...

I've seen a lot of posts where price breaks through a particular PPZ level on the daily, then seeking PA verification to support the R/S shift and vice verser. This was my assumption and I went down to the lower time frames to find it. I was obviously wrong.

Think I may have disregarded other J16 teachings in the process.

Helps a lot, I'll take another look at my entry and the PBT&CB / PBT&CA teachings.

(RE: 'About SC', I'm a climber myself. I've been wanting to head back to Nepal for a very long time. The Himalayas are just stunning). Thanks again.
  • #89,203
  • Feb 16, 2011 7:08am Feb 16, 2011 7:08am
Hey folks....
just decided to leave interactive trading section and focus more on the real business....

swing trades should be sold, weekly and daily look very amusing for shorts.
Price failed to make new high last few hours.
H4 and M15 should give us a clear direction.

So long - Phanti
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Hero calls followed by margin calls...
  • #89,204
  • Feb 16, 2011 7:12am Feb 16, 2011 7:12am
Quoting Atc
Here's one..... but check out the g/cad and g/aud..... feed fxpro

I believe the Great Britain negative unemployment news helped
Nice strong move sponsored by King speach about keeping rates at record low for a longer time. Some late players at the party still might be selling but it looks like we may get a nice bounce...
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  • #89,205
  • Feb 16, 2011 7:14am Feb 16, 2011 7:14am
Quoting Greenhaze
Nice strong move sponsored by King speach about keeping rates at record low for a longer time. Some late players at the party still might be selling but it looks like we may get a nice bounce...
I thought low rates is bearish for local currency, no?

EDIT: ah sorry that is what you mean, didn't understand at first
  • #89,206
  • Feb 16, 2011 7:18am Feb 16, 2011 7:18am
Quoting PhAnTi'
Hey folks....
just decided to leave interactive trading section and focus more on the real business....

swing trades should be sold, weekly and daily look very amusing for shorts.
Price failed to make new high last few hours.
H4 and M15 should give us a clear direction.

So long - Phanti
Me and my current IB long don't like these charts

  • #89,207
  • Feb 16, 2011 7:19am Feb 16, 2011 7:19am
Quoting Thierry
BUOB on 4h gbp jpy chart.
I know it is at a swing high but it breaks the 135 and close above. Hope it will close on daily basis above the 135 and ppz.
Took a loss, just below the ppz. This will happen sometimes
  • #89,208
  • Feb 16, 2011 7:26am Feb 16, 2011 7:26am
Quoting Adilius07
Me and my current IB long don't like these charts

well, hope you didnt long the weekly or daily at least ? : P
Hero calls followed by margin calls...
  • #89,209
  • Feb 16, 2011 7:28am Feb 16, 2011 7:28am
Quoting PhAnTi'
well, hope you didnt long the weekly or daily at least ? : P
I added sentiment, and crossed my fingers, still doesn't help much

IB's can be tricky... will reverse the last minute (daily yes)

  • #89,210
  • Feb 16, 2011 7:31am Feb 16, 2011 7:31am
Quoting Greenhaze
Hi 5.25

You took h1 pb at 4:00 / 5:00 gmt time ...

I dont assume you took h4 pb becouse it was invalidated before it broke to the downside.

Pozdro
I see your point. Yeah, I'm in Australia at the moment so I'm sleeping through the markets. Heading back to Europe in two weeks which should help.

I went short on the 4h close. I've been waiting for the price to break the low of PB's all other times.

I can see that is quite a clear lesson.

Dzieki.
  • #89,211
  • Feb 16, 2011 7:40am Feb 16, 2011 7:40am
Quoting adam777
PB, J16 trailing stop behind the keltner channel as per his post
http://www.forexfactory.com/showpost...2&postcount=30

Is the K channel the equivalent of the fibo?
  • #89,212
  • Feb 16, 2011 7:51am Feb 16, 2011 7:51am
should be nice area for some scalps here,
anyway weekly pointing down.....i'm sidelined on cable, too much fundie moves.

ph.
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Hero calls followed by margin calls...
  • #89,213
  • Feb 16, 2011 7:54am Feb 16, 2011 7:54am
Quoting Greenhaze
Nice strong move sponsored by King speach about keeping rates at record low for a longer time. Some late players at the party still might be selling but it looks like we may get a nice bounce...
It looks like i arrived to the party , drink all the wine, made a big mess and got kicked out...
  • #89,214
  • Feb 16, 2011 7:55am Feb 16, 2011 7:55am
Quoting 5.25
Thanks SC

It obviously was a pass for you...

I've seen a lot of posts where price breaks through a particular PPZ level on the daily, then seeking PA verification to support the R/S shift and vice verser. This was my assumption and I went down to the lower time frames to find it. I was obviously wrong.

Think I may have disregarded other J16 teachings in the process.

Helps a lot, I'll take another look at my entry and the PBT&CB / PBT&CA teachings.
You were right about parity turning to resistance once closed below. Trusting in this, you could have given the trade a bit more room to breathe. Resistance isn't necessarily to the pip. There are stops (like yours) behind it (easy pickings) to be taken out before it moves South again.
  • #89,215
  • Feb 16, 2011 7:57am Feb 16, 2011 7:57am
Quoting Greenhaze
Nice strong move sponsored by King speach about keeping rates at record low for a longer time. Some late players at the party still might be selling but it looks like we may get a nice bounce...
Hi,

Always enjoy your posts and charts.

Thanks for your view,

Bill
  • #89,216
  • Feb 16, 2011 8:05am Feb 16, 2011 8:05am
Quoting ghous
Let's see if 9650 can now hold as resistance.

Wow...this has been one hell of an interesting combat to follow.

g.
0.9650 failed to act as resistance...i think IB has done its work(yellow ppz on H4 chart)
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  • #89,217
  • Feb 16, 2011 8:11am Feb 16, 2011 8:11am
Quoting Ifmyante
You were right about parity turning to resistance once closed below. Trusting in this, you could have given the trade a bit more room to breathe. Resistance isn't necessarily to the pip. There are stops (like yours) behind it (easy pickings) to be taken out before it moves South again.
Got it. I agree and accept that 'resistance isn't to the pip', I've gotten caught out before:

http://www.forexfactory.com/showpost...ostcount=89163

Thanks!
  • #89,218
  • Edited 5:07pm Feb 16, 2011 8:18am | Edited 5:07pm
Quoting AvanishDemo
0.9650 failed to act as resistance...i think IB has done its work(yellow ppz on H4 chart)
Does this IPB hold much PA relevance, or was this a reaction to some sort of news data? This one really took off!

(Just getting my head round IPB, though not trading).

Edit: It was a late night, I meant to say IB not IPB.
  • #89,219
  • Feb 16, 2011 8:19am Feb 16, 2011 8:19am
any ideas ?

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couldnt make new highs on the weely as well.

Kindest regards Phanti


plz excuse my paint skills
Hero calls followed by margin calls...
  • #89,220
  • Feb 16, 2011 8:26am Feb 16, 2011 8:26am
Quoting AvanishDemo
0.9650 failed to act as resistance...i think IB has done its work(yellow ppz on H4 chart)
True. Interesting that we now have a BUOB off the 9650 on the daily. (Again if we close as one).

g.
I believe . . .
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