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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

  • #89,721
  • Feb 21, 2011 7:27pm Feb 21, 2011 7:27pm
Quoting ghous
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.

Price missed the 1.54 by 2 pips on my feed. .g . . . thats a hit in my book . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,722
  • Feb 21, 2011 7:27pm Feb 21, 2011 7:27pm
Hi Ghous,

Ive just seen an inside bar on GU, ive got 1.62500 as a strong monthly ppz.

Would this be a valid setup for you ?

1st FTA will be the blue zone marked, which price is right now.
2nd FTA would be the line of the weekly TRL

Thx.
Attached Image (click to enlarge)
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Trade Smart
  • #89,723
  • Feb 21, 2011 7:28pm Feb 21, 2011 7:28pm
Quoting Patrick.
Os, there was a 6.2 earthquake in NZ that is the reasons for the spike on NZD crosses
Oh shit.. didnt knew that.. thx for the info Patrick
Trade Smart
  • #89,724
  • Feb 21, 2011 7:33pm Feb 21, 2011 7:33pm
Quoting Patrick.
Os, there was a 6.2 earthquake in NZ that is the reasons for the spike on NZD crosses

We have some New Zealanders in here . .I hope they're alright . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,725
  • Feb 21, 2011 7:39pm Feb 21, 2011 7:39pm
Quoting jarroo
We have some New Zealanders in here . .I hope they're alright . .
Let us hope so.
  • #89,726
  • Feb 21, 2011 7:43pm Feb 21, 2011 7:43pm
Quoting jarroo
We have some New Zealanders in here . .I hope they're alright . .
A big shout out to all my friends in NZ.

"Aotearoa for Life".
  • #89,727
  • Feb 21, 2011 7:51pm Feb 21, 2011 7:51pm
Yeah it seems it was a serious one..

Seriously damaged the city's cathedrals, burst water mains, buckled streets and shut down phone service..

http://edition.cnn.com/2011/WORLD/as...nd.earthquake/ if u wanna know more about it.
Trade Smart
  • #89,728
  • Feb 21, 2011 7:52pm Feb 21, 2011 7:52pm
Quoting Patrick.
Os, there was a 6.2 earthquake in NZ that is the reasons for the spike on NZD crosses
oh boy let's hope everyone is ok
  • #89,729
  • Feb 21, 2011 8:20pm Feb 21, 2011 8:20pm
Quoting jarroo
Price missed the 1.54 by 2 pips on my feed. .g . . . thats a hit in my book . .
I am in on that hit

g.
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I believe . . .
  • #89,730
  • Feb 21, 2011 8:24pm Feb 21, 2011 8:24pm
Quoting Patrick.
Os, there was a 6.2 earthquake in NZ that is the reasons for the spike on NZD crosses
Oohh! My thoughts are with them (The Newzealanders)

g.
I believe . . .
  • #89,731
  • Feb 21, 2011 8:29pm Feb 21, 2011 8:29pm
Quoting Osman
Hi Ghous,

Ive just seen an inside bar on GU, ive got 1.62500 as a strong monthly ppz.

Would this be a valid setup for you ?

1st FTA will be the blue zone marked, which price is right now.
2nd FTA would be the line of the weekly TRL

Thx.
Not a great setup space wise. You correctly identified a close by FTA.

Nice story to it though. The 1.625 sure is a strong long term PPZ. I would have liked to talk more on this, but I am getting lat for uni...later if I have time.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.png Size: 26 KB
I believe . . .
  • #89,732
  • Feb 21, 2011 9:12pm Feb 21, 2011 9:12pm
Quoting Osman
Hi Ghous,

Ive just seen an inside bar on GU, ive got 1.62500 as a strong monthly ppz.

Would this be a valid setup for you ?

1st FTA will be the blue zone marked, which price is right now.
2nd FTA would be the line of the weekly TRL

Thx.

You're going to see Daily Inside Bars across many, if not all pairs. This is due to the US Holiday on Monday. So we view these days (or bars) just like Sunday bars and ignore them . .due to their incompleteness of a full trading day.
Indicators show the past. Price Action "Indicates" the future.
  • #89,733
  • Feb 21, 2011 9:12pm Feb 21, 2011 9:12pm
Quoting ghous
I am in on that hit

g.
I assume it was like a touch trade... putting a sell order @ 1.54 without waiting for PA anymore considering the beauty of the set-up on the weekly. Am I correct in my understanding?

0908
  • #89,734
  • Edited 9:34pm Feb 21, 2011 9:17pm | Edited 9:34pm
Quoting ghous
I am in on that hit

g.
I would have liked the 1.5500 better, nice confluences up there. But since the 1.5400 was the top of the PPZ level of Resistance it was good for a low risk entry . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,735
  • Feb 21, 2011 10:12pm Feb 21, 2011 10:12pm

Ok so i've been reading and i've read alot, I also have not read alot but I have a question if I may.... I am obviously a newbie (even though my join date is 2008). I know the plan is stick to the weekly and daily and i'm fine with that. I have no plans to really ever trade anything else. My question is about "A trades" If I see a pin bar in traffic but the FTA is noticeable and defined. I feel that I know where price SHOULD be going, I am willing to adjust my targets and move to BE accordingly. I am not over anxious and could wait if thats what I need to do. Im just trying to be sure that I am not passing on trades that I should take. I guess i'm afraid of getting to relaxed and passing on a A+ setup because I don't really really know what it is. I apologize as I am sure this question has been heard many times over but I just want to be sure

  • #89,736
  • Feb 21, 2011 10:58pm Feb 21, 2011 10:58pm
Quoting Pipfire
Ok so i've been reading and i've read alot..I know the plan is stick to the weekly and daily and i'm fine with that... My question is about "A trades" If I see a pin bar in traffic but the FTA is noticeable and defined.... Im just trying to be sure that I am not passing on trades that I should take. I guess i'm afraid of getting to relaxed and passing on a A+ setup because I don't really really know what it is..
Hello Pipfire
the phrase i highlighted above tells me, u are more focused on the profit/outcome than the risk. avoid that trap.

missing good or perceived 'A' trades trades shouldnt really get u anxious. it (missing trades) is a normal part of being in this business.

if u dont know what an A trade is FOR YOU, then u have to further your study, by reading &/or asking questions. sooner or later, u will find the answer. each trader's A setup/trade is different, so u have to discover yours.
  • #89,737
  • Feb 22, 2011 12:52am Feb 22, 2011 12:52am
Is this it?

I am not taking any position here... But that is what I would call a "hard break"
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Many choose unhappiness over uncertainty.
  • #89,738
  • Feb 22, 2011 1:37am Feb 22, 2011 1:37am
Quoting Dan Gilbert
Is this it?

I am not taking any position here... But that is what I would call a "hard break"

I would call it that too, Dan. The squeeze out could be on . .

Looks like its pushing through that PPZ level at the 62.50. The 60.00 looks very possible . .after a retrace.

We'll have to get Mike to chime in on this one.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,739
  • Feb 22, 2011 1:57am Feb 22, 2011 1:57am
Its fun when these work out like they're suppose to.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,740
  • Feb 22, 2011 2:08am Feb 22, 2011 2:08am
Quoting Adilius07
Hi Jarroo, thanks for the analysis!! But no I just exited because I didn't like it being late friday here, and the price seemed to stall... So just exited at 1R to forget about it
That level was dead to right, Adlilus.

Notice how Price couldn't close above that PPZ level, .7645. . .it acted as Resistance. And I'll bet you a dollar to a donut that if Price would have closed above that level it would have acted as Support.

That was a great target in a consolidation trade.
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Indicators show the past. Price Action "Indicates" the future.
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