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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

  • #89,601
  • Feb 20, 2011 4:08pm Feb 20, 2011 4:08pm
EURCAD seems to be in a good spot to open the week as it closed Fri at BRN 1.3500.

Nicely confluenced area - BRN, strong previous resistance, 150 ema, trendline and 50 retracement. A nice pinbar on Monday with a close below 1.3500 would be nice.

Also gotta be ready for 1.3500 to act as resitance (Fiday bar is strong looking BUOB with a nice close a few pips above the BRN).
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  • #89,602
  • Feb 20, 2011 4:25pm Feb 20, 2011 4:25pm
I got my figure from here jarro

notice the 61.8 ret at 1.53913

Look for price to touch that spot then enter. 1st TP at 1.500 level
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  • #89,603
  • Feb 20, 2011 4:31pm Feb 20, 2011 4:31pm
Quoting jarroo
I got some PMs about the Gb/Chf. I thought I would post my comments here.


I'm look for the 1.5375 to hold as Resistance on the Gbp/Chf. If it doesn't hold and begins retrace, I like the 1.5500 BRN at the 50% retracement. (blue area is the Weekly BEOB)
I've pretty much got the same line on my chart - i've been plotting lines after reading the highest close of previous resistance concept you posted a while back. This flip area pops out on a line chart too.

PS it opened below the level, so we will def. see.
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  • #89,604
  • Edited 7:02pm Feb 20, 2011 6:51pm | Edited 7:02pm
Quoting AvanishDemo
Hey Ghous,
BEOB just CB the blue PPZ
FTA 1.52..
we can keep a small eye on TL..i like this
I'm still wondering u may turn this down..i dnt know!
would hav been better if it had better close
each n every setup appears in different scenarios so gotta be sure lol.
ur thoughts?

EDIT:Fib Ret n 1.54RN
Hey Avanish sorry for missing out on this,

As many others have already mentioned I also feel this one has potential. The best part is the close below 1.54. This should provide for some really good trade management, i.e we know the 1.54 once broken now has a good chance of holding as resistance should we see a pull back.

1.52 as the FTA looks good.

g.
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I believe . . .
  • #89,605
  • Feb 20, 2011 7:46pm Feb 20, 2011 7:46pm
Thanks Jarroo

Just getting my head together this morning.
  • #89,606
  • Feb 20, 2011 7:47pm Feb 20, 2011 7:47pm
Quoting Pinbar
Thanks Jarroo

Just getting my head together this morning.

You got it buddy . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,607
  • Feb 20, 2011 7:53pm Feb 20, 2011 7:53pm
Quoting DBallerz
I got my figure from here jarro

notice the 61.8 ret at 1.53913

Look for price to touch that spot then enter. 1st TP at 1.500 level

Oh I see . . I think I see . .That's alot on your chart there, DB.

I like the 1.5390 level, I'll show you why in Donkeys's post.
Indicators show the past. Price Action "Indicates" the future.
  • #89,608
  • Feb 20, 2011 7:55pm Feb 20, 2011 7:55pm
Quoting Donkey
I've pretty much got the same line on my chart - i've been plotting lines after reading the highest close of previous resistance concept you posted a while back. This flip area pops out on a line chart too.

PS it opened below the level, so we will def. see.
Also, the lowest close of Support, 1.5390. . .you can round that up to 1.5400 RN . . .(thanks ghous).
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Indicators show the past. Price Action "Indicates" the future.
  • #89,609
  • Feb 20, 2011 8:03pm Feb 20, 2011 8:03pm
Quoting Donkey
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.

Did you know that the 113.86 (114.00) was the highest close of Resistance on the Monthly Eur/Jpy? . . .nice one D.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,610
  • Feb 20, 2011 8:31pm Feb 20, 2011 8:31pm
Quoting Dan Gilbert
This looks interesting.

I like it, Dan. The levels are pretty well defined . .1.3600 and 1.3400.

Maybe the Daily can gives a heads up on where its going to break or where its going to find S or R.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,611
  • Feb 20, 2011 8:32pm Feb 20, 2011 8:32pm
Good to see the same old faces pumping this thread along....you guys are priceless and I hope you are all well!

TH
  • #89,612
  • Feb 20, 2011 8:34pm Feb 20, 2011 8:34pm
Quoting tehuringa
Good to see the same old faces pumping this thread along....you guys are priceless and I hope you are all well!

TH
hey there ol buddy
  • #89,613
  • Feb 20, 2011 8:34pm Feb 20, 2011 8:34pm
Quoting tehuringa
Good to see the same old faces pumping this thread along....you guys are priceless and I hope you are all well!

TH

Hey Dave . . good to see you, mate. . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,614
  • Feb 20, 2011 8:39pm Feb 20, 2011 8:39pm
Quoting tehuringa
Good to see the same old faces pumping this thread along....you guys are priceless and I hope you are all well!

TH
Good to hear from you Dave.

g.
I believe . . .
  • #89,615
  • Feb 20, 2011 8:41pm Feb 20, 2011 8:41pm
Hey fellas!

Wish I could spend more time here...very busy at the moment

Still trading my bum off though
  • #89,616
  • Feb 20, 2011 11:33pm Feb 20, 2011 11:33pm
Quoting jarroo
I like it, Dan. The levels are pretty well defined . .1.3600 and 1.3400.

Maybe the Daily can gives a heads up on where its going to break or where its going to find S or R.
You are absolutely correct about the levels being well defined. The 34/36 are spot on. I think you might see price break and re-test either of those levels, then you can find a tighter entry.

I personally just want to see the bar behave a bit more like how I4B's do, compared to how the daily one on E/U was completely whacked out.
Many choose unhappiness over uncertainty.
  • #89,617
  • Feb 21, 2011 12:03am Feb 21, 2011 12:03am
Hi all,

I know this has been asked earlier..many times but i could not get a clear picture..sorry for asking again... can anyone tell what are the MA's used and which time frame they are used... i understand soem people use 150,360 ema/sma and all... but do not know if this is for weekly /daily/4hr... can someone post the timeframes and the EMA/SMA used in each time frame.. thanks a lot for ur help....

regards
  • #89,618
  • Feb 21, 2011 12:04am Feb 21, 2011 12:04am
Quoting Donkey
EURCAD seems to be in a good spot to open the week as it closed Fri at BRN 1.3500.

Nicely confluenced area - BRN, strong previous resistance, 150 ema, trendline and 50 retracement. A nice pinbar on Monday with a close below 1.3500 would be nice.

Also gotta be ready for 1.3500 to act as resitance (Fiday bar is strong looking BUOB with a nice close a few pips above the BRN).
Agree that its at an interesting spot. I'm also cautious of a PPZ around the 1.3540-50ish area if the daily BUOB/DBLHC breaks long.
Cheers,
John
  • #89,619
  • Feb 21, 2011 12:22am Feb 21, 2011 12:22am
Quoting gladiator123
Hi all,

I know this has been asked earlier..many times but i could not get a clear picture..sorry for asking again... can anyone tell what are the MA's used and which time frame they are used... i understand soem people use 150,360 ema/sma and all... but do not know if this is for weekly /daily/4hr... can someone post the timeframes and the EMA/SMA used in each time frame.. thanks a lot for ur help....

regards
150 and 365 EMA is used nearly exclusively on daily. It is used as a confluence to support and resistance.
Many choose unhappiness over uncertainty.
  • #89,620
  • Feb 21, 2011 12:29am Feb 21, 2011 12:29am
Dan,

thanks for ur reply. May I ask.....are these the only two MA's used ? Do u use any MA's on 4hr and weekly? thanks for ur reply..

Quoting Dan Gilbert
150 and 365 EMA is used nearly exclusively on daily. It is used as a confluence to support and resistance.
one more personal question...

from where did u get your lines for "About me" in ur profile? u wrote it urself? its really nice....and inspirational.. thanks for that too..
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