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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

  • #91,501
  • Mar 12, 2011 12:41pm Mar 12, 2011 12:41pm
Quoting menomoo
Thanks heaps again !!!

Ok On the daily we have PBT & CB now at that level what time frame we are looking for confirmation of bearish entry? 4hourly , 1 hourly ?

Thanks again .

vito
Yes, you can look at the 4 hour, Hourly and even the 15 min. The bearish entry would another confirmation . .bearish PA. But not just any bearish PA, we still apply the high quality, A+ characteristics to this bearish PA . . . . . .Size, Space, Confluences, BRNs, RNs, Where did it close?, Traffic , FTAs, etc . . .
Indicators show the past. Price Action "Indicates" the future.
  • #91,502
  • Mar 12, 2011 12:49pm Mar 12, 2011 12:49pm
Quoting AvanishDemo
Hey Jarroo,
i never tried TT but is it ok to take TT @ 1.87?if Yes,then Target would be 1.90/1.92..
Reason:Weekly Chart.
OR
should we wait for Bullish PA?
EDIT:1.8860 is also concern..so maybe that can be final target!(not shown on chart)
You can see how a TT can be risky, AD.

Interesting where Price closed above . . Still need more convincing PA at this level.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,503
  • Mar 12, 2011 12:55pm Mar 12, 2011 12:55pm
Quoting Atc
Yes, nice Jim, retest confirming new Res.

Update E/J....woke up turned on news and saw the quake news....firstly, stay safe Steve(pinbar).....secondly, ran to pull my orders that I had placed on two pairs....took a 12 pip loss on E/J...but happy I closed earlier than my previous SL.

Trying to catchup with this thread

That was smart, Bill . .Japan sure changed things on the yen pairs.
Indicators show the past. Price Action "Indicates" the future.
  • #91,504
  • Mar 12, 2011 1:04pm Mar 12, 2011 1:04pm
Yeah..i guess we should follow our thinkings (based on J16 rules)..i like few setups this week..but js couldn't pull a trigger n it did worked out as per my expectations..Window-Trading(js like its said Window shopping)..i guess that was a PJ..lol
Quoting jarroo
Sometimes you gotta trust the story . .but there's nothing wrong with being picky. You'll never hear the seniors say, "you're being too picky "..
Hmm...right its better to wait for PA setup..
hav fun!
Quoting jarroo
You can see how a TT can be risky, AD.

Interesting where Price closed above . . Still need more convincing PA at this level.
  • #91,505
  • Mar 12, 2011 1:13pm Mar 12, 2011 1:13pm
Quoting pex
hyello everyone...
if this bar close as is now....what do you think guys?

Quoting jarroo
Did you see my chart?
I like it, pex . .


Since Price did not close below the bottom of this consolidation (Support). I still view this .9800ish level as Support and the Daily BUOB is another confirmation of this Support.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,506
  • Mar 12, 2011 1:18pm Mar 12, 2011 1:18pm
Quoting AvanishDemo
Yeah..i guess we should follow our thinkings (based on J16 rules)..i like few setups this week..but js couldn't pull a trigger n it did worked out as per my expectations..Window-Trading(js like its said Window shopping)..i guess that was a PJ..lol


Hmm...right its better to wait for PA setup..
hav fun!
You're a very picky shopper, AD.

Its a required trading characteristic .. .
Indicators show the past. Price Action "Indicates" the future.
  • #91,507
  • Mar 12, 2011 1:22pm Mar 12, 2011 1:22pm
Quoting Donkey
Somebody is on a roll!!

I'll say!! . . . lol .


Mike's the Man . .
Indicators show the past. Price Action "Indicates" the future.
  • #91,508
  • Mar 12, 2011 1:29pm Mar 12, 2011 1:29pm
Quoting mbqb11
Hey Pex

Cool one to watch, lets see if we can close above the prior lows and descending trendline


Mike
Looking to see if it will go for the previous bar highs, like it did before.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,509
  • Mar 12, 2011 1:39pm Mar 12, 2011 1:39pm
Quoting Adilius07
Here's one. Can I say that a good setup would be the one that has all criteria for being a strong bar (close, size etc) and ALSO IF:

1. It is breaking of one of the following patterns.
2. Broke before and now retest forming a trigger bar.

Strong bar + these formations = A+ setup?

And last, would you trade back inside the triangle?
Sorry for so many qestions in one day really. That was the last one I promise! Thank you!!!!

Quoting mbqb11
As a general rule, maybe. It depends on the location and context of these patterns as well. A pattern is also just another concept to incorporate into the overall bag of concepts we can pull from to be flexible to the different types of markets.

At least for me

Mike
Let me interpret this for you, Adilius . .

" . . It depends on the location (BRNs) and context of these patterns (Strong Price Action) as well . . "

"A pattern is also just another concept to incorporate into the overall bag of concepts we can pull from to be flexible to the different types of markets. . ." (The Story)

Indicators show the past. Price Action "Indicates" the future.
  • #91,510
  • Mar 12, 2011 1:42pm Mar 12, 2011 1:42pm
I would pass on it myself. It's not at a terrible location but not enough confluence for me. Your FTA is dead on.

Scott

Quoting Adilius07
I like this setup very much.
FTA is the red line.
  • #91,511
  • Mar 12, 2011 1:50pm Mar 12, 2011 1:50pm
eig on weekly. a setup i would consider for next week. retrace at the resistance. weekly close was not very strong (means "bearish"). fta at 17.77 usd, stop above resistance area around 20.60 usd. r:r 2:1.
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meine augen sind die sterne
  • #91,512
  • Mar 12, 2011 2:56pm Mar 12, 2011 2:56pm
touch trade possibility on weekly. 4.50 usd. 150 ema gives additional support.
friday close was very weak. therefore i would wait for a bullish price action to enter long here.
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meine augen sind die sterne
  • #91,513
  • Mar 12, 2011 8:03pm Mar 12, 2011 8:03pm
Quoting jarroo
Looking to see if it will go for the previous bar highs, like it did before.
interesting how the 3 differnent swings with the use of fibs line up with the last daily high 61.8 from the last swing point , 50 from the higher, and the 38.2 with the highest swing point.

Don't you think?

Does this tell us we will retrace first, like you indicate on your chart Jim before we may go higher since this is such a BUB?
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  • #91,514
  • Mar 12, 2011 8:49pm Mar 12, 2011 8:49pm
hmmmm

anyone trade this pair?
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  • #91,515
  • Mar 12, 2011 9:17pm Mar 12, 2011 9:17pm
S&R and ma here. need your opinion. thank you .
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A chart helps those who can read it.
  • #91,516
  • Mar 12, 2011 10:48pm Mar 12, 2011 10:48pm
Quoting jarroo
Wow . .a charts tells more than a thousand words. Your chart did the same thing before . .when was it? a few days ago . .

Glad to see your doing ok, Steve . .God bless you, buddy. . . be safe .

The video coming out of Japan is incredible . .wow.


Jim

Yeah, better really start considering it, before I post a chart.

Thanks for the thoughts, Jarroo.
  • #91,517
  • Mar 13, 2011 12:06am Mar 13, 2011 12:06am
OK HOWEVER , it is a strong support trend line ,isn't it ?
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A chart helps those who can read it.
  • #91,518
  • Mar 13, 2011 12:21am Mar 13, 2011 12:21am
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A chart helps those who can read it.
  • #91,519
  • Mar 13, 2011 12:42am Mar 13, 2011 12:42am
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A chart helps those who can read it.
  • #91,520
  • Mar 13, 2011 12:51am Mar 13, 2011 12:51am
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