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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

  • #89,561
  • Feb 20, 2011 3:02am Feb 20, 2011 3:02am
Quoting aserbfx
touch of lower trendline on weekly cpu (australia).
forming a triangle. watch for a breakout to come in the next weeks.
or play now the ride to the upper line.
Hi man PPT IS free candy once broken ..cheers.
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  • #89,562
  • Feb 20, 2011 3:12am Feb 20, 2011 3:12am
Quoting ghous
This doesn't look too bad. . . ...

g.
Nice find G. The only thing that worries me a bit is the last week gap which hasnt been filled yet. I am not a gap player but Mike would have much more to say about that. 2.150 would be good place for fta.
  • #89,563
  • Feb 20, 2011 3:41am Feb 20, 2011 3:41am
Quoting aserbfx
french bank bnp is in a sideways market since april 2009.
a break of the 60 euro may result in a (positive) explosion.
Hey Aserbfx,

Really enjoying those charts. Can you point me in the right direction to access these stocks? Are you using Alpari? I've only got access to forex pairs.

Thanks
  • #89,564
  • Feb 20, 2011 4:15am Feb 20, 2011 4:15am
Quoting 5.25
Hey Aserbfx,

Really enjoying those charts. Can you point me in the right direction to access these stocks? Are you using Alpari? I've only got access to forex pairs.

Thanks
hi!
for charting: gci broker, freestockcharts and prorealtime.
for trading: interactive brokers.
hth
meine augen sind die sterne
  • #89,565
  • Feb 20, 2011 4:16am Feb 20, 2011 4:16am
Hi guys,

All the yen crosses seems to be in a "critical" situation. You've already talked about NZDJPY with that simmetrical triangle ready to squeeze; in addition, during this week, I would pay attention to these one:

- GJ: I think we have a valid PBT@CA; look how 134.5/135 worked well in the recent past. I think I'll wait a retest of 135 and eventually PA to go long.

- CJ: is this a valid breakout of the consolidation box? I have to consider the close of the bar or high/low of the bar in this cases??Look at the perfect shaping of that box

Finally, apart technical analysis, I'd like to hear some fundamental opinion about the Yen situation. It has been very strong since 2007/2008 (against USD, GBP, EUR), maybe it's time for a correction or a trend reversal?

Very glad to read your ideas
Thanks, B
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  • #89,566
  • Feb 20, 2011 4:50am Feb 20, 2011 4:50am
Quoting bakko85

- CJ: is this a valid breakout of the consolidation box? I have to consider the close of the bar or high/low of the bar in this cases??Look at the perfect shaping of that box
what makes me suspicious about the chf/jpy is the time when the breakout happened: on the hourly chart it was the last trading hour.
would love to read senior's thoughts...
meine augen sind die sterne
  • #89,567
  • Feb 20, 2011 5:22am Feb 20, 2011 5:22am
Quoting trj6911
Hi man PPT IS free candy once broken ..cheers.
looks interesting. gonna watch this.
meine augen sind die sterne
  • #89,568
  • Feb 20, 2011 6:37am Feb 20, 2011 6:37am
Quoting aserbfx
touch of lower trendline on weekly cpu (australia).
forming a triangle. watch for a breakout to come in the next weeks.
or play now the ride to the upper line.
How you find these PA are you scanning the complete market over the weekend? xD
  • #89,569
  • Feb 20, 2011 6:44am Feb 20, 2011 6:44am
Does this count as a third touch because the Price moved higher than the Trend line and then rejected
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  • #89,570
  • Feb 20, 2011 7:40am Feb 20, 2011 7:40am
Quoting john225
Does this count as a third touch because the Price moved higher than the Trend line and then rejected
hey john,
depends on your views/perspective about TLs &/or your threshold level/buffer (for TL breaks).
based on that chart, i personally would put my third touch on the swing high on mid-October2010.
  • #89,571
  • Feb 20, 2011 8:19am Feb 20, 2011 8:19am
Quoting Greenhaze
Nice find G. The only thing that worries me a bit is the last week gap which hasnt been filled yet. I am not a gap player but Mike would have much more to say about that. 2.150 would be good place for fta.
Ghous / Greenhaze

Welcome to the GBP NZD party!!

http://www.forexfactory.com/showpost...ostcount=89442

I took a REAL small position based on the 4H, cuz it was Friday.
I've already sweated this one out a bit as price retested that Support level after entering over the break of the head of the 4H.

http://1.bp.blogspot.com/-oDxi8TqBBP...%2B2-18-11.gif
  • #89,572
  • Feb 20, 2011 8:39am Feb 20, 2011 8:39am
Quoting Adilius07
Hi, also:

1. check those Seniors Summaries, posted by Cyrus (I think). Search for it.

2. Pick the traders whos trading appoach you like the most and follow all their posts and attachments - man this would really fasten your learning curve.

3. Download all James16 attachements (charts) - they are easy to understand as he puts his notes right on the chart....
Thanks for the suggestions!!! I dont mind reading the first 100-500 pages myself to get a grasp and all the fundamental before I start reading the summaries.

I will keep an eye out for Mike, Ghous, and Jarroo's posts. Now I know who to pay attention too =)

Also, this thread moves VERY FAST. Its only the weekend and I'm surprised to the activity. Wonder what its like during a normal trading day...
  • #89,573
  • Feb 20, 2011 8:41am Feb 20, 2011 8:41am
Quoting john225
How you find these PA are you scanning the complete market over the weekend? xD
yes, i do. crazy? maybe... but i made a ton of money in the last weeks. therefore it's paid good.
meine augen sind die sterne
  • #89,574
  • Feb 20, 2011 8:52am Feb 20, 2011 8:52am
Quoting Greenhaze
Nice find G. The only thing that worries me a bit is the last week gap which hasnt been filled yet. I am not a gap player but Mike would have much more to say about that. 2.150 would be good place for fta.

imho, 2.1390-2.14 seems like a strong ppz. i would wait for a close above..
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Trading is a test match not a Twenty20.
  • #89,575
  • Feb 20, 2011 10:27am Feb 20, 2011 10:27am
Quoting decentchap
imho, 2.1390-2.14 seems like a strong ppz. i would wait for a close above..
Hi Decentchap

I have to disagree becouse the blue area you marked is very ambiguous imo and i wouldnt put much significance in that. After G20 weekend we may get some gaps and erratic price movements so i would be carrefull with this anyway + we might have opportunity to get discount price, somewhere at the 2.100 level if the last week gap will be filled. I will have my eyes on h4/hi PA.
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  • #89,576
  • Feb 20, 2011 10:28am Feb 20, 2011 10:28am
weekly vfc near ppz and ready for an outbreak.
fridays daily bar was very strong on good volume closing on the high.
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meine augen sind die sterne
  • #89,577
  • Feb 20, 2011 10:57am Feb 20, 2011 10:57am
This looks interesting.
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Many choose unhappiness over uncertainty.
  • #89,578
  • Feb 20, 2011 10:58am Feb 20, 2011 10:58am
Quoting Adilius07
Here's one breaking out. Strong close, good bar, but I don't like it being swing high, also it is right below 114 which looks to be the FTA here.

Any thoughts? Anyone would play it?

EDIT: If it had a longer tail I would consider to take it, but as is I skip...
I agree with this Adi. I've been backtesting some outside bars as continuation. Even with strong closes, it seems to me like the continuation bars are a little more erratic in their reactions and you have to be quick to minimize risk or go to BE.

I wouldn't be surprised to see the pair make it to 115.000, but there is a lot of chopiness on the way.
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  • #89,579
  • Feb 20, 2011 1:22pm Feb 20, 2011 1:22pm
Quoting Adilius07
Hi Jarroo, I got out @ 0.7643 - a little before my target but rexactly at 1R profit. Just wanted to close so I will not have to worry about it on weekend.

That was a great target to get out, Adilius . .very nice.

I don't know if you saw the same internal S/R levels within that consolidation area as show in this chart . .maybe you did . . good for you. But we know that Price likes to consolidate and it could reach the top. . .I not taking away from your decision to exit (if the reasons why that's stated above) it was a smart one.


The reason I said that it was a tough trade was because Price broke out of that consolidation area . .and we know what happens when that occurrs. The .7500 BRN really shows its importance as a strong level . .no surprises there.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #89,580
  • Feb 20, 2011 1:32pm Feb 20, 2011 1:32pm
Quoting JoshDance
Hi all,

After spending some time at the end of December renewing my interest in trading and forex, I came to this forum to find my way again. I have always liked the J16 folks and many of you have been very helpful and instrumental in my understanding of markets. Since December, after much careful research, I have plunged myself into the futures market and will not be pursuing spot forex any longer, though I do monitor the euro futures contract.

A few years ago I wrote an indicator for MT4 that calculated the position size to take based on a...
Hey Josh, good to see you again. I agree, the J16 folks are one of a kind , thanks for that.

You can definitely post some charts from the futures market or from any market for that matter. This material works in any martket and all charts are welcomed here.

Thanks for the contribution.

maybe I responded to late . .


Jim
Indicators show the past. Price Action "Indicates" the future.
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