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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

  • #91,021
  • Mar 8, 2011 3:37am Mar 8, 2011 3:37am
Quoting Pinbar
As always a refreshing KISS.

Great stuff and how simple.

Thanks KISS.
Thanks Pinbar. Many signs point to the downside for cable like this possible ending diagnal (for all of my fellow amatuer wavers). I think it will go down big eventually. IMHO it is a bit early yet to go all in short.

K.I.S.S.
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  • #91,022
  • Mar 8, 2011 4:31am Mar 8, 2011 4:31am
Quoting KissFan
Thanks Pinbar. Many signs point to the downside for cable like this possible ending diagnal (for all of my fellow amatuer wavers). I think it will go down big eventually. IMHO it is a bit early yet to go all in short.

K.I.S.S.

I hear you loud and clear KF.

Many thanks for the input.
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  • #91,023
  • Mar 8, 2011 4:33am Mar 8, 2011 4:33am
Hi everyone!
Great thread,thanks for the Chairman!
I would like to share my picture and thought....and ask for comments!
What if in half an hour this would turned into red?
In H4
Whould it be a good sign?
Thanks
Monika
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  • #91,024
  • Mar 8, 2011 4:39am Mar 8, 2011 4:39am
Well, first trade of this month and it's looking like a probable loser.

AUDCAD, off the bottom of the weekly range and good prev resistance level at .9825 turned support, daily pinbar spiked through and rejected the level and also the 150. So tucked my stop under the level and 150 at .9810

I'd like to note this down as a good, high probability setup with reasonable targets at .9950 & parity that was just an unlucky loser, but comments and criticsm more than welcome
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  • #91,025
  • Mar 8, 2011 4:46am Mar 8, 2011 4:46am
Quoting Sgrb1
Well, first trade of this month and it's looking like a probable loser.

AUDCAD, off the bottom of the weekly range and good prev resistance level at .9825 turned support, daily pinbar spiked through and rejected the level and also the 150. So tucked my stop under the level and 150 at .9810

I'd like to note this down as a good, high probability setup with reasonable targets at .9950 & parity that was just an unlucky loser, but comments and criticsm more than welcome
One quick note is that you have further possible support at the highest weekly close of .9812 from June '08.

I hope it holds for you buddy
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  • #91,026
  • Mar 8, 2011 4:55am Mar 8, 2011 4:55am
Quoting aserbfx
weekly chart of exel.
strong uptrend, but resistance above looks strong. could run back to 9.20 usd which falls together with the 38.2% fib of the upmove.
ok, i think i am going completely nuts.
i am short since yesterday at 11.48 usd.
after the closing bell yesterday, exel was so nice to announce a stock sale.
stocks plummet to 10.60 usd in the after-hour auction. this would result in a win of more than 8% in one day!!!!!!!!!!!!!
http://www.thestreet.com/story/11034...ale-plans.html
meine augen sind die sterne
  • #91,027
  • Mar 8, 2011 4:58am Mar 8, 2011 4:58am
Quoting Ifmyante
One quick note is that you have further possible support at the highest weekly close of .9812 from June '08.

I hope it holds for you buddy
Yep, I'm cutting it pretty fine with a stop at .9810 then lol. Maybe should have given it a little more room.

Thanks man
  • #91,028
  • Mar 8, 2011 4:59am Mar 8, 2011 4:59am
Quoting Sgrb1
Well, first trade of this month..
hello Sgrb1,
just a quick reply...

-0.9825 to 1.00 seem to be a pretty tight range to trade in. (looking at your weekly)
-the PB u traded was relatively average in size. add to this my above view that u traded in a range. range trading is pretty tricky & not easy.
-looking at your daily chart. there was tons of traffic immediately beside your PB. 0.99 - 0.9950 is immediate traffic. u can see PA didnt even like to touch 0.99 (see candle after the PB). i think u forgot to acknowledge 0.99 RN as potential trouble for your trade.

hope that helps
  • #91,029
  • Mar 8, 2011 5:01am Mar 8, 2011 5:01am
Quoting aserbfx
ok, i think i am going completely nuts.
i am short since yesterday at 11.48 usd.
after the closing bell yesterday, exel was so nice to announce a stock sale.
stocks plummet to 10.60 usd in the after-hour auction. this would result in a win of more than 8% in one day!!!!!!!!!!!!!
http://www.thestreet.com/story/11034...ale-plans.html
i think it's fine to go nuts once in a while.
keep it up & keep going nuts!
  • #91,030
  • Edited 5:13am Mar 8, 2011 5:02am | Edited 5:13am
Quoting Sgrb1
Well, first trade of this month and it's looking like a probable loser.

AUDCAD, off the bottom of the weekly range and good prev resistance level at .9825 turned support, daily pinbar spiked through and rejected the level and also the 150. So tucked my stop under the level and 150 at .9810

I'd like to note this down as a good, high probability setup with reasonable targets at .9950 & parity that was just an unlucky loser, but comments and criticsm more than welcome
Hi,

this is a very choppy pair, If the previous pinBar that I highlighted with blue arrow didn't give us a push to the top of the consolidation, the pinbar you took has no chance. It is going straight into traffic with no space for it to breath. Check out the highlighted are. If i took the pinbar my FTA would be a few pips above, so not worth taking.

If I was playing this one I would place my stop below the BRN 0.9800 as it has more credibility than the 150 EMA. 0.9800 is the only thing that can hold this up. Just my opinion


cheers,

Harry
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  • #91,031
  • Mar 8, 2011 5:07am Mar 8, 2011 5:07am
Quoting Sgrb1
Yep, I'm cutting it pretty fine with a stop at .9810 then lol. Maybe should have given it a little more room.

Thanks man
I couldn't advise one way or the other. Can only cross fingers and toes for you!
  • #91,032
  • Mar 8, 2011 5:07am Mar 8, 2011 5:07am
Quoting aserbfx
ok, i think i am going completely nuts.
i am short since yesterday at 11.48 usd.
after the closing bell yesterday, exel was so nice to announce a stock sale.
stocks plummet to 10.60 usd in the after-hour auction. this would result in a win of more than 8% in one day!!!!!!!!!!!!!
http://www.thestreet.com/story/11034...ale-plans.html
Aser I am soo jealous of you,

The whole day today I've been thinking of starting an endeavor into the world of stocks. Checking out different brokers etc. We are missing out on sooo much.

Keep it up buddy
  • #91,033
  • Mar 8, 2011 5:13am Mar 8, 2011 5:13am
Stopped out.

Quoting vasmiza
Hi,
this is a very choppy pair....
Quoting supremeChaos
hello Sgrb1,
just a quick reply...
All goods points, and duly noted. Also things I should have noticed myself. Lesson learned and on to the next one

Appreciate the comments.
  • #91,034
  • Mar 8, 2011 5:15am Mar 8, 2011 5:15am
Quoting Sgrb1
Stopped out.





All goods points, and duly noted. Also things I should have noticed myself. Lesson learned and on to the next one

Appreciate the comments.

Good to hear.

I thought you were on the verge of moving the stop back.

Been there, done that and it is very dangerous.

Money management will take care of the losers.
  • #91,035
  • Mar 8, 2011 5:16am Mar 8, 2011 5:16am
Oil

Fundamentally driven too
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  • #91,036
  • Mar 8, 2011 5:36am Mar 8, 2011 5:36am
Quoting Jonnyislost
Oil

Fundamentally driven too
very nice. i like it. seems like a "no-brainer".
meine augen sind die sterne
  • #91,037
  • Mar 8, 2011 6:46am Mar 8, 2011 6:46am
Nice place for a bounce in this sideways market (drawdown = 2 pips).

No surprises here....

-- Danny
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  • #91,038
  • Mar 8, 2011 7:41am Mar 8, 2011 7:41am
How about this pb in NZD/JPY. Comments will be highly appreciated.
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  • #91,039
  • Mar 8, 2011 7:59am Mar 8, 2011 7:59am
Quoting Mak
How about this pb in NZD/JPY. Comments will be highly appreciated.
hello Mak,
what is your question?

looking exclusively at your chart,
-that PB is relatively small
-it broke & hit its FTA 61.00 - 61.10 area.
-is 60.37 area a strong support?

hope this helps a bit
  • #91,040
  • Mar 8, 2011 7:59am Mar 8, 2011 7:59am
Quoting Mak
How about this pb in NZD/JPY. Comments will be highly appreciated.
the bar pattern is one part of the story.
the location the other part.
we like to see these setups at ppz. areas with resistance/support, round numbers, fibs etc.
so it is recommended to look for major ppz first. starting with monthly, then weekly and daily.
meine augen sind die sterne
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