james16 Chart Thread | Page 4569 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #91,361
  • Mar 10, 2011 10:36pm Mar 10, 2011 10:36pm
Quoting jarroo
Hey Donkey and Atc . . you guys see this one, right? . . .

Nice clear line of Support . . I mean . .previous Support ..
So I started on weekly, with a couple of lines and dropped to daily.

At 1.5758 area I drew a weekly LCS... A few bars ago we had a daily LCS, almost to the pip, of the weekly. Price broke through and we now expect support to turn to resistance, and wait for pullback to that zone and bearish PA.

Price also appears to be currently stalled at a previous HCR from January....if price continues down. We expect this area to hold as support (until a break). Need to be sure I'm not curve fitting this area of the chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: wpg59.gif Size: 22 KB
Click to Enlarge Name: wpg59a.gif Size: 25 KB
  • #91,362
  • Mar 10, 2011 10:39pm Mar 10, 2011 10:39pm
Quoting Pinbar
Just got back and took a look at it.

So, on the daily are we looking for a further breakdown then pullback to the Highest level of support above price at the blue line, with some good bearish PA?

Get rid of the fibs . .I don't want to see them on your charts any more . . .just kidding Pb . . .lol

We don't need fib levels now . .where is the line or area of Support?
Indicators show the past. Price Action "Indicates" the future.
  • #91,363
  • Mar 10, 2011 10:43pm Mar 10, 2011 10:43pm
Quoting Donkey
So I started on weekly, with a couple of lines and dropped to daily.

At 1.5758 area I drew a weekly LCS... A few bars ago we had a daily LCS, almost to the pip, of the weekly. Price broke through and we now expect support to turn to resistance, and wait for pullback to that zone and bearish PA.

Price also appears to be currently stalled at a previous HCR from January....if price continues down. We expect this area to hold as support (until a break). Need to be sure I'm not curve fitting this area of the chart.
I don't see any curve fitting . . .looks clear as a bell to me . . nice D.
Indicators show the past. Price Action "Indicates" the future.
  • #91,364
  • Mar 10, 2011 10:51pm Mar 10, 2011 10:51pm
Quoting jarroo
Get rid of the fibs . .I don't want to see them on your charts any more . . .just kidding Pb . . .lol

We don't need fib levels now . .where is the line or area of Support?
You mean below price or in the consolidation box?
Attached Image (click to enlarge)
Click to Enlarge Name: w.jpg Size: 72 KB
  • #91,365
  • Mar 10, 2011 10:53pm Mar 10, 2011 10:53pm
Quoting Pinbar
You mean below price or in the consolidation box?

Yeah the levels are a bit different on the IBFX feed but it still works out. The Support level of consolidation. . .not the clearest consolidation though.
Indicators show the past. Price Action "Indicates" the future.
  • #91,366
  • Mar 10, 2011 10:57pm Mar 10, 2011 10:57pm
Quoting jarroo
Yeah the levels are a bit different on the IBFX feed but it still works out. The Support level of consolidation. . .not the clearest consolidation though.

Hmmm, I think I lost track of it with that last chart.
  • #91,367
  • Mar 10, 2011 11:00pm Mar 10, 2011 11:00pm
Quoting Pinbar
Hmmm, I think I lost track of it with that last chart.

I'll show the IBFX feed . you may have gotten it right . .I couldn't see it because of your fibs . .just kidding again Pb . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #91,368
  • Mar 10, 2011 11:05pm Mar 10, 2011 11:05pm
Quoting jarroo
I'll show the IBFX feed . you may have gotten it right . .I couldn't see it because of your fibs . .just kidding again Pb . . lol

Ok , let me simplify this with a red line for resistance above price and green line for former support near price that may now flip to resistance preventing it going up.
Attached Image (click to enlarge)
Click to Enlarge Name: w.jpg Size: 77 KB
  • #91,369
  • Mar 10, 2011 11:09pm Mar 10, 2011 11:09pm
Quoting Pinbar
Ok , let me simplify this with a red line for resistance above price and green line for former support near price that may now flip to resistance preventing it going up.

I'm looking at current Price levels.
Attached Image (click to enlarge)
Click to Enlarge Name: gcadwww.jpg Size: 93 KB
Indicators show the past. Price Action "Indicates" the future.
  • #91,370
  • Mar 10, 2011 11:16pm Mar 10, 2011 11:16pm
Quoting Donkey
agree with atc....WOW.

Seeing how you use these levels as entry s/l.... Is this a scenario that would make sense to you to TT short on EURO?
Your hcr2 is hanging tough as seen on the Hourly.


Gotta go

Later

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: euro11b.jpg Size: 89 KB
Indicators show the past. Price Action "Indicates" the future.
  • #91,371
  • Mar 10, 2011 11:37pm Mar 10, 2011 11:37pm
Quoting jarroo
I'm looking at current Price levels.

I think that is where I am going wrong, I am looking all over the place at the consolidation, inside it and outside it.

Let me think.


EDIT: Ok, this may be a bit tainted now, as I have seen your chart.
But, I can see the HLR and the area where PBT&CA and found support which is the current area we are going to be looking for bullish PA or a break through and pullback to for bearish PA?
Attached Image (click to enlarge)
Click to Enlarge Name: w.jpg Size: 80 KB
  • #91,372
  • Mar 10, 2011 11:50pm Mar 10, 2011 11:50pm
Quoting jarroo
Its not bad at all. . . .I like the story. . .but bullish PBs at swing highs can be less predicable. . . I wouldn't take a full bar loss on this one and a hard break would keep me in it.
closed the trade in between..i agree with u
  • #91,373
  • Mar 11, 2011 12:00am Mar 11, 2011 12:00am
WTF....Major Earthquake in tokyo....been swinging here for 15 mins.

Everytime I reply to Jarroo, and earthquake.

I was under the table with my wife and 2 cats.

Still swinging.
  • #91,374
  • Mar 11, 2011 12:11am Mar 11, 2011 12:11am
Quoting Pinbar
WTF....Major Earthquake in tokyo....been swinging here for 15 mins.

Everytime I reply to Jarroo, and earthquake.

I was under the table with my wife and 2 cats.

Still swinging.
take care of you and your family, mate...
meine augen sind die sterne
  • #91,375
  • Mar 11, 2011 12:14am Mar 11, 2011 12:14am
Quoting aserbfx
take care of you and your family, mate...

Fires in Tokyo it seems....This is the biggest one I have seen in 25 years.
Magnitude 7.9 they are not reporting.

Maybe some good shorts on the Yen. LOL

I must have trading in the head.
  • #91,376
  • Mar 11, 2011 12:16am Mar 11, 2011 12:16am
Quoting Pinbar
Fires in Tokyo it seems....This is the biggest one I have seen in 25 years.
Magnitude 7.9 they are not reporting.

Maybe some good shorts on the Yen. LOL

I must have trading in the head.

Take care !! Stay safe !!

Edit: 7.9
http://www.foxnews.com/world/2011/03...strikes-japan/
  • #91,377
  • Mar 11, 2011 12:19am Mar 11, 2011 12:19am
Quoting Pinbar
Fires in Tokyo it seems....This is the biggest one I have seen in 25 years.
Magnitude 7.9 they are not reporting.

Maybe some good shorts on the Yen. LOL

I must have trading in the head.
7.9!!! This is huge! Stay safe please. I heard in Tokyo they build the safiest buildings in the world, as they have to deal with earthquakes so much...
I hope the worst is behind now.
  • #91,378
  • Edited 1:04am Mar 11, 2011 12:51am | Edited 1:04am
Very interesting BEOVB at VBRN and PPZ (1.0000) on AUD/USD 4H.
First time close < 1.0000 since Feb 23.
Attached Image (click to enlarge)
Click to Enlarge Name: auh4.jpg Size: 88 KB
  • #91,379
  • Mar 11, 2011 12:51am Mar 11, 2011 12:51am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
BBC reports it as 8.8

http://www.bbc.co.uk/news/world-asia-pacific-12709598
I have seen the enemy, and it is me.
  • #91,380
  • Mar 11, 2011 1:14am Mar 11, 2011 1:14am
Price did retrace to VBRN + PPZ at 1.0000 then kaboom.
20 pips within 10 minutes.
This is easy
Attached Image (click to enlarge)
Click to Enlarge Name: auh4v2.jpg Size: 87 KB
373 traders viewing now