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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

  • #91,721
  • Mar 16, 2011 4:03am Mar 16, 2011 4:03am
Quoting Pinbar
Just got back from the Chinese embassy who said, you must have 6 months on your passport to get a visa for China but, considering the British embassy screwed you over, we will give you a visa then you can send off for your passport from China.

What a bunch of fascists the British embassy has become.
They were not like that previously, I have previously received assistance from them above the call of duty. Too bad but as the Chinese are willing to save my ass, I owe them thanks.

Sounds good, Steve . .be careful . .its better to know the devil you know, than the devil you don't know.

be safe buddy.
Indicators show the past. Price Action "Indicates" the future.
  • #91,722
  • Mar 16, 2011 4:12am Mar 16, 2011 4:12am
Quoting jarroo
Sounds good, Steve . .be careful . .its better to know the devil you know, than the devil you don't know.

be safe buddy.

I know them all. LOL

Anyway, I will accept the hospitality of the Chinese people graciously.

And try to repay it when I can.

As for my fellow British empire.
  • #91,723
  • Mar 16, 2011 4:14am Mar 16, 2011 4:14am
Quoting Pinbar
I know them all. LOL

Anyway, I will accept the hospitality of the Chinese people graciously.

And try to repay it when I can.

As for my fellow British empire.

Good one . .lol .. . Its good that you know them all.
Indicators show the past. Price Action "Indicates" the future.
  • #91,724
  • Mar 16, 2011 4:24am Mar 16, 2011 4:24am
Quoting Be Cool
Hey PinBar/Jarroo,
How is one suppose to analyse this giant PB in terms of LCS & HCR? I drew what i think as daily LCS and weekly LCS. Not sure whether the PB should close below which LCS. Or is it a pass due to the general strengthening of the yen and safe haven currencies?
Thanks

Got all my fingers crossed for you guys in Japan
Yes, if the close of that PB was below the .9870 (weekly LCS) that would have made it much easier to take for me. . .darn it. Now watch Price close below the .9825 on the Daily. . .

It can be a tough life being picky . . .just kidding . .its actually an easier life. .
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Indicators show the past. Price Action "Indicates" the future.
  • #91,725
  • Mar 16, 2011 4:40am Mar 16, 2011 4:40am
Quoting Adilius07
Ok, most of the time price will reach it's FTA from PB or BUOB setup.

Now the only problem I see is the need to perfectly locate this FTA before the break.

So can we somehow make this process of choosing a FTA more objective? Or it is purely an art?

Many times I see that the size of a setup bar makes our FTA a bit further away, i.e. bigger the bar the further is FTA.

After fact I always agree that FTA has been reached. And most traders will agree too. But how to agree on our FTA before the fact?

Any ideas are welcome...

...
The previous bar Highs and Lows and an eye on the next BRN or PPZ level is a good start.
Indicators show the past. Price Action "Indicates" the future.
  • #91,726
  • Mar 16, 2011 4:55am Mar 16, 2011 4:55am
Quoting ghous
Yes A a bearish close would have been nicer.

But this one fulfills most of the needed requirements. Back against a major PPZ/RN, a close below it, a nice long nose, and a nice ring to it (double top)

Me likes it.

g.
1st target or FTA hit . .. What's the draw down on this one, 3 pips?
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Indicators show the past. Price Action "Indicates" the future.
  • #91,727
  • Mar 16, 2011 5:07am Mar 16, 2011 5:07am
Quoting jarroo
Does not meet many of ghous' requirements . .ghous would not like . .nor do I . .even if it works out.

I understand you're just watching ..
Yup,i didn't like it too..as its already seen..it would hav js hit or missed the SL..n then reverted back..quite shaky dat was..but ur post makes me sure not to even look for such IPBs..
Good Trading!!
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  • #91,728
  • Mar 16, 2011 5:38am Mar 16, 2011 5:38am
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A chart helps those who can read it.
  • #91,729
  • Edited 6:11am Mar 16, 2011 6:01am | Edited 6:11am
Quoting geniusztc
Hope it works out for you. But that's a doozie of a place to short
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  • #91,730
  • Mar 16, 2011 6:12am Mar 16, 2011 6:12am
Quoting Ifmyante
Hope it works out for you. But that's a doozie of a place to short
my fault , thank you for your reminding。
A chart helps those who can read it.
  • #91,731
  • Mar 16, 2011 6:18am Mar 16, 2011 6:18am
Quoting geniusztc
my fault , thank you for your reminding。
Double bottom's very possible. Let small TF PA tell you what to do.

EC's coming back at us BTW
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  • #91,732
  • Mar 16, 2011 6:29am Mar 16, 2011 6:29am
Quoting geniusztc
high probability trades should have tight stops ... so be happy abput ur setup and irgnore the small loss...next trade will come

jonas-.
Hero calls followed by margin calls...
  • #91,733
  • Mar 16, 2011 10:34am Mar 16, 2011 10:34am
Quoting jarroo
Yes, if the close of that PB was below the .9870 (weekly LCS) that would have made it much easier to take for me. . .darn it. Now watch Price close below the .9825 on the Daily. . .

It can be a tough life being picky . . .just kidding . .its actually an easier life. .
Thanks for clearing it up, Jim Still trying to grasp the concept ..
  • #91,734
  • Mar 16, 2011 10:44am Mar 16, 2011 10:44am
Quoting PhAnTi'
high probability trades should have tight stops ... so be happy abput ur setup and irgnore the small loss...next trade will come

jonas-.
thank you for your words ,and as you can see ,a NOT TOO BAD trade .cheers .
A chart helps those who can read it.
  • #91,735
  • Mar 16, 2011 10:46am Mar 16, 2011 10:46am
Quoting slade1986
Any thoughts on the IPB on E/U Daily? If it closes as is..

Off the VBRN

Well, first target hit and primary target of 1.3915 hit... Unfortunately all without me. SL was hit at BE before falling.
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  • #91,736
  • Mar 16, 2011 10:47am Mar 16, 2011 10:47am
Quoting Adilius07
Ok, most of the time price will reach it's FTA from PB or BUOB setup.

Now the only problem I see is the need to perfectly locate this FTA before the break.

So can we somehow make this process of choosing a FTA more objective? Or it is purely an art?

Many times I see that the size of a setup bar makes our FTA a bit further away, i.e. bigger the bar the further is FTA.

After fact I always agree that FTA has been reached. And most traders will agree too. But how to agree on our FTA before the fact?

Any ideas are welcome...

I suppose you mean near FTA that might stop and reverse price once it gets there before we get a chance to move stop to BE. I also have this problem. But these days i only choose big PA bar which tends to carry more momentum and MIGHT smash through near FTA. Other than that i am learning to gauge the strength of PPZ right beneath/above PA Bar. If it is strong, pass the setup if PA Bar cannot close above/below it. But if it is a minor PPZ, i move to BE when price gets there.

Just some thoughts
Danny
  • #91,737
  • Mar 16, 2011 11:48am Mar 16, 2011 11:48am
jus my 2cents...
1.44 is a very good area to watch...it has already created nice space..lets see..if it reaches 1.44 with the same space it has created now...any bullish PA setup should do good..till then we wait
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  • #91,738
  • Mar 16, 2011 12:01pm Mar 16, 2011 12:01pm
for the readers which are missing my stock-postings, i like to let you know that due do insane moves at the markets, i stopped trading and posting for this week.
trade safe!
meine augen sind die sterne
  • #91,739
  • Mar 16, 2011 12:12pm Mar 16, 2011 12:12pm
Quoting jarroo
1st target or FTA hit . .. What's the draw down on this one, 3 pips?
That prior bar low was my "go to BE" point.

g.
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I believe . . .
  • #91,740
  • Mar 16, 2011 1:10pm Mar 16, 2011 1:10pm
Yen going stronger n stronger...seems lik BOJ pumped in more money..cant imagine such a great n strong country Japan turning into rubbles..
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