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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

  • #90,401
  • Edited 6:10pm Feb 28, 2011 4:58pm | Edited 6:10pm
Quoting jarroo

I refer you to SR2's post where he does an analysis on PA setups.

Anyone like the BUOB on the Daily Aud/Jpy . .. . (FXCM and IBFX feed)
Indicators show the past. Price Action "Indicates" the future.
  • #90,402
  • Feb 28, 2011 5:15pm Feb 28, 2011 5:15pm
Quoting Atc
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  • #90,403
  • Feb 28, 2011 5:32pm Feb 28, 2011 5:32pm
Quoting jarroo
That's a classic Bill . .nice one even though you missed it.

.
The amount of trades I miss, I'm starting feel like a "classic old fart." Now where did I put my trading glasses? adsdfjjlsdfllalsdflalldl
  • #90,404
  • Feb 28, 2011 5:51pm Feb 28, 2011 5:51pm
Quoting Atc
The amount of trades I miss, I'm starting feel like a "classic old fart." Now where did I put my trading glasses? adsdfjjlsdfllalsdflalldl
It good to see that you know what your looking for . .mutli confluences with PA. . .nice

Its all part of the process, my friend . . .

First we see them after they happen (its how we learn in the beginning)

Then we see them happening infront of us and we don't trust it or have confidence in them or haven't seen them enough times or etc., (just my experience here)

Then we see them before they happen . .meaning locations out in the future that line up nicely with confluences and levels that we've seen work in the past.

So when we miss them we may get bummed out . but we do so with a smile on our face . .
Indicators show the past. Price Action "Indicates" the future.
  • #90,405
  • Feb 28, 2011 7:23pm Feb 28, 2011 7:23pm
Quoting jarroo
That's a classic Bill . .nice one even though you missed it.

I was looking for the 4 Hour PB to have a close below the 1.3600. Darn it.

I've seen to often these break a little and then go the other way. . .had to give it a pass.
yea rite..even i was waiting for the EURAUD H4 PB close below 1.36 but had to pass n even i see such minor looking pinbars acting as support n go the reverse way..thats y i marked them in yellow on GBPCHF chart..u remember u asked me abt that..Heres another example lol..
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  • #90,406
  • Feb 28, 2011 8:01pm Feb 28, 2011 8:01pm
Jarroo

Good morning.


Nice bullish rally on GBP/CHF

What do you think about the form of the monthly PB?
Look too doji like to you?

Anyway, I like both the 50 & 61.8 fibo retracement areas.
I prefer the 61.8 though, as it has the 150 EMA as confluence.
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  • #90,407
  • Feb 28, 2011 8:17pm Feb 28, 2011 8:17pm
Quoting Pinbar
Jarroo

Good morning.


Nice bullish rally on GBP/CHF

What do you think about the form of the monthly PB?
Look too doji like to you?

Anyway, I like both the 50 & 61.8 fibo retracement areas.
I prefer the 61.8 though, as it has the 150 EMA as confluence.
Great charts PB . Here us what I was drawing up on this pair earlier. I'm liking 1.5400 area. Be nice to catch the right shoulder of a HNS at the top, eh?
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  • #90,408
  • Feb 28, 2011 8:24pm Feb 28, 2011 8:24pm
Quoting Donkey
Great charts PB . Here us what I was drawing up on this pair earlier. I'm liking 1.5400 area. Be nice to catch the right shoulder of a HNS at the top, eh?
Donkey

Thanks for your input.

Funny you mention that area.
I was just looking at the weekly line chart and indeed that area looks interesting.


EDIT: This is FXDD feed so the 150 EMA position is not the same as the previous FXDD charts I posted.
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  • #90,409
  • Feb 28, 2011 8:32pm Feb 28, 2011 8:32pm
Quoting jarroo
It good to see that you know what your looking for . .mutli confluences with PA. . .nice

Its all part of the process, my friend . . .

First we see them after they happen (its how we learn in the beginning)

Then we see them happening infront of us and we don't trust it or have confidence in them or haven't seen them enough times or etc., (just my experience here)

Then we see them before they happen . .meaning locations out in the future that line up nicely with confluences and levels that we've seen work in the past.

So when...
WOW Jim,

You just explained the fallacy I've been falling into for the past few weeks. I now realise where I am, I am definitely the second category you described above, and the AUD/JPY is a great example of why I am in this category. i can see it happen infront of me but I just can't trust myself. Then I BE or close out to see it run, ironically this has been happening in all the trades I've taken so far, it drives me crazy.How can I overcome this???

Quoting jarroo
That's a win in my book and in many others. . .next one will go to the moon . .

We (or I should say "I") often forget that a quality PA setup will tend...
Just went through SR2's post, clear evidence support this same view. This stuff works. I just need the confidence or need to convince myself to stay in rather than bailout. How can I convince myself of this? Will it eventually come with screentime.

Here is a few examples starting with the AUD/JPY:

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Then we had the GBP/NZD, I posted this here on the thread before it even happened here is the evidence:
Quoting vasmiza
Hi Ghous,

Lets say we took this trade based on the fact that we have a nice PB...
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The same thing happened with the EUR/NZD. The evidence of my analysis is here:

Quoting vasmiza
i have another one here, very similar setup to above but this time it will be direct breakout play. For some reason this doesn't look as good as GPY/NZD.

Here I would play a straight break of 1.8000, FTA at 1.81, @ 1.82 I would BE.

Initial stop below 1.78 then move to below left eye after FTA followed by BE.

What do you think???

I think I like the second chart much better.
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Believe me I can post another 5 charts of the same thing happening over and over again. NZD/JPY, USD/CHF same thing. I either enter then BE or close out for small profit to later see it run to my targets, or pull out my orders prematurely, to later see my initial analysis being correct. My actions seem to be in conflict with my foresight. Jim please give me some advice here. What to do???

Harry
  • #90,410
  • Feb 28, 2011 8:34pm Feb 28, 2011 8:34pm
Quoting vasmiza
WOW Jim,

You just explained the fallacy I've been falling into for the past few weeks. I now realise where I am, I am definitely the second category you described above, and the AUD/JPY is a great example of why I am in this category. i can see it happen infront of me but I just can't trust myself. Then I BE or close out to see it run, ironically this has been happening in all the trades I've taken so far, it drives me crazy.How can I overcome this???



Just went through SR2's post, clear evidence support this same view. This stuff works. I just...

That is a great post by Jarroo, Harry.
Thanks for bumping it.

I can relate to that & indeed it points out how we should be demoing these PA, not just for demoing sake but to build our trust in our own analysis & the PA.

Makes you wonder if these guys are really shrinks & do they have hidden cameras watching us on our PCs.
  • #90,411
  • Feb 28, 2011 8:39pm Feb 28, 2011 8:39pm
Quoting jarroo
That maybe true or maybe not.

But if it does go down deeper and then comes back and gives us some nice Bearish PA . . we'll have some of that nice Space that Mike talks about all the time. .
Or maybe it will go down and give us another A++++ setup like Nov. 07
" I can read the left side of the chart, the right side's a Bitch!
  • #90,412
  • Feb 28, 2011 9:32pm Feb 28, 2011 9:32pm
Quoting jarroo
Anyone like the BUOB on the Daily Aud/Jpy . .. . (FXCM and IBFX feed)
It already broke on IBFX, wasn't at my computer. But isn't trading into a PPZ?
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  • #90,413
  • Edited 9:56pm Feb 28, 2011 9:43pm | Edited 9:56pm
Hmm, I am starting to like the 38.2 on the H4 TF.

Let's see how it looks nearer to LO.
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  • #90,414
  • Feb 28, 2011 9:53pm Feb 28, 2011 9:53pm
Quoting Pinbar
Hmm, I am starting to like the 38.2 on the H4 TF.

Let's see how it looks nearer to LO.
61.4 looks better
  • #90,415
  • Feb 28, 2011 11:23pm Feb 28, 2011 11:23pm
i think the Set up position may be @ 7500 7485 . i am not sure .
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A chart helps those who can read it.
  • #90,416
  • Feb 28, 2011 11:32pm Feb 28, 2011 11:32pm
USDJPY....looks to be consolidating in an upward channel on daily making higher highs and lows. 82.00 looks to be a ppz to watch.
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  • #90,417
  • Edited Mar 1, 2011 12:18am Feb 28, 2011 11:46pm | Edited Mar 1, 2011 12:18am
Quoting DBallerz
61.4 looks better

I think you mean the 61.8 fibo

Yes, this would be the better place to get PA off the 150 EMA.

However, we can not disregard all the bar lows and this flip area around the 38.2 with the 1.5200 RN.


EDIT. Maybe a look at the weekly will clarify why I like the 38.2
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  • #90,418
  • Mar 1, 2011 12:21am Mar 1, 2011 12:21am
H1 is also showing a lot of bearish DIV.
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  • #90,419
  • Mar 1, 2011 12:48am Mar 1, 2011 12:48am
Quoting AvanishDemo
yea rite..even i was waiting for the EURAUD H4 PB close below 1.36 but had to pass n even i see such minor looking pinbars acting as support n go the reverse way..thats y i marked them in yellow on GBPCHF chart..u remember u asked me abt that..Heres another example lol..

That's excellent, AD.

Any PA that sitting on top of a strong PPZ level or Support level better have its Close below it or its a pass for me. This alone will keep you out of alot bad trade.
Indicators show the past. Price Action "Indicates" the future.
  • #90,420
  • Mar 1, 2011 12:51am Mar 1, 2011 12:51am
Quoting Pinbar
Jarroo

Good morning.


Nice bullish rally on GBP/CHF

What do you think about the form of the monthly PB?
Look too doji like to you?

Anyway, I like both the 50 & 61.8 fibo retracement areas.
I prefer the 61.8 though, as it has the 150 EMA as confluence.

The Monthly PB looks OK but its not at a swing High . .if it was any lower it would be an IPB .. lol. The 1.5400 does look good on the Monthly.
Indicators show the past. Price Action "Indicates" the future.
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