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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

  • #91,941
  • Mar 19, 2011 12:49pm Mar 19, 2011 12:49pm
Quoting mbqb11
as long as one remains aware of the very very tight consolidation you are in is the most important in my book

Best
Mike
Agreed, i am aware we are going sideways and ultimately the best PA is going to be a breakout of this 1.6-1.625 area.
With tight management like stop to BE the potential to reverse is covered. Not A+ because it is not moving into clear space but a powerful bar at a confluent level?
  • #91,942
  • Mar 19, 2011 1:35pm Mar 19, 2011 1:35pm
Hi everyone, you all have a great thread here. I have been soaking up the material and look forward to the process as defined by Jim, starting in sim, etc. Thanks to everyone for making it what it is.

Forex is new to me having traded futures for the past two years so I am still learning the differences. I have attached a couple of charts that do not look right. They are causing me to question my broker's data since another data provider I use did not show these same bars. Did anyone else get the same looking bars that I got? This happened on a couple of other instruments as well.

Thanks again and I look forward to participating.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $CADCHF (240 Min) 3_18_2011 strange bar.jpg Size: 69 KB
Click to Enlarge Name: $AUDNZD (240 Min) 3_18_2011 strange bar.jpg Size: 69 KB
  • #91,943
  • Mar 19, 2011 1:57pm Mar 19, 2011 1:57pm
cog on weekly.
price broke through the resistance at about 46.50 usd.
weekly close was not very strong. friday was a downbar (open vs close).
therefore i would wait for a retrace of about 2 usd and enter long there.
next target will be rn 50 usd and the 61.8% fib at 52 usd which coincides with a ppz back from feb/march 2008.
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #91,944
  • Mar 19, 2011 2:08pm Mar 19, 2011 2:08pm
Quoting aserbfx
cog on weekly.
price broke through the resistance at about 46.50 usd.
weekly close was not very strong. friday was a downbar (open vs close).
therefore i would wait for a retrace of about 2 usd and enter long there.
next target will be rn 50 usd and the 61.8% fib at 52 usd which coincides with a ppz back from feb/march 2008.
Very interesting chart. Libia situation is getting some attention again and oil is getting bought. That support looks very strong.... Good luck with it
  • #91,945
  • Mar 19, 2011 2:28pm Mar 19, 2011 2:28pm
Quoting Greenhaze
Very interesting chart. Libia situation is getting some attention again and oil is getting bought. That support looks very strong.... Good luck with it
oh, this company has something to do with oil. didn't saw that.
meine augen sind die sterne
  • #91,946
  • Mar 19, 2011 2:59pm Mar 19, 2011 2:59pm
Quoting aserbfx
oh, this company has something to do with oil. didn't saw that.
so now you know that current sentiment is on your side haHA !
  • #91,947
  • Mar 19, 2011 3:20pm Mar 19, 2011 3:20pm
ctl on weekly.
nice buob engulfing the last three weeks.
good support with 23.6% fib, rn 40 usd, resistance turns into support ...
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meine augen sind die sterne
  • #91,948
  • Mar 19, 2011 4:21pm Mar 19, 2011 4:21pm
weekly bearish pinbar on dk. stock was in a sideways market for about 3 years. the breakout above the high of april 2009 resulted in this pinbar. very weak close on friday. risk 1.50 usd, profit target 5 usd, so good r:r. the large bar closing in the middle with ultra-high volume is already showing weakness.

++++++++++++++++++++++++++++++++++++++++
(check the compression with the triangle just before the breakout! and the breakout with a large buob. lovely!)
++++++++++++++++++++++++++++++++++++++++
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #91,949
  • Mar 19, 2011 5:27pm Mar 19, 2011 5:27pm
Quoting aserbfx
weekly bearish pinbar on dk. stock was in a sideways market for about 3 years. the breakout above the high of april 2009 resulted in this pinbar. very weak close on friday. risk 1.50 usd, profit target 5 usd, so good r:r. the large bar closing in the middle with ultra-high volume is already showing weakness.

++++++++++++++++++++++++++++++++++++++++
(check the compression with the triangle just before the breakout! and the breakout with a large buob. lovely!)
++++++++++++++++++++++++++++++++++++++++

Man I love that. Look at the BUOB at the end of that compression
  • #91,950
  • Mar 19, 2011 5:49pm Mar 19, 2011 5:49pm
Another hour and I am off to NIIGATA prefecture for that big bird out of here tomorrow at 12:15

I think Harbin has heard I am on my way.
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  • #91,951
  • Mar 19, 2011 6:32pm Mar 19, 2011 6:32pm
Quoting Pinbar
Another hour and I am off to NIIGATA prefecture for that big bird out of here tomorrow at 12:15

I think Harbin has heard I am on my way.
Best of luck PB !!!
  • #91,952
  • Mar 19, 2011 7:49pm Mar 19, 2011 7:49pm
SXT : off 50 fib, BUOB
KEX : off BRN, BEOB
Attached Images
  • #91,953
  • Mar 19, 2011 7:58pm Mar 19, 2011 7:58pm
Quoting mbqb11
Beautiful C
Thanks for the reply
  • #91,954
  • Mar 19, 2011 8:36pm Mar 19, 2011 8:36pm
Quoting Patrick.
SXT : off 50 fib, BUOB
KEX : off BRN, BEOB
Nice PB....I just wish it closed below 54.00....will watch...notice gap still needs to be filled?
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  • #91,955
  • Mar 20, 2011 1:36am Mar 20, 2011 1:36am
Quoting aserbfx
touch of lower trendline on weekly cpu (australia).
forming a triangle. watch for a breakout to come in the next weeks.
or play now the ride to the upper line.
broke through...
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meine augen sind die sterne
  • #91,956
  • Mar 20, 2011 2:37am Mar 20, 2011 2:37am
Quoting Pinbar
Another hour and I am off to NIIGATA prefecture for that big bird out of here tomorrow at 12:15

I think Harbin has heard I am on my way.
welcome ,my friend.enjoy 哈尔滨 PIJIU 。but it will be more difficult to trade forex in china . good luck .
A chart helps those who can read it.
  • #91,957
  • Mar 20, 2011 2:41am Mar 20, 2011 2:41am
Attached Image (click to enlarge)
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A chart helps those who can read it.
  • #91,958
  • Mar 20, 2011 4:13am Mar 20, 2011 4:13am
Quoting Pinbar
Another hour and I am off to NIIGATA prefecture for that big bird out of here tomorrow at 12:15
I think Harbin has heard I am on my way.
wow, that's pretty quick.
sayonara & arigato, nippon-land,
ni hao ma Chong Kuo (China)!

hopefully Japan rehabilitates as soon as it can..
  • #91,959
  • Mar 20, 2011 4:20am Mar 20, 2011 4:20am
Quoting supremeChaos
wow, that's pretty quick.
sayonara & arigato, nippon-land,
ni hao ma Chong Kuo (China)!

hopefully Japan rehabilitates as soon as it can..
wo shi zhong guo ,wo hen hao ( china is fine)
A chart helps those who can read it.
  • #91,960
  • Mar 20, 2011 5:05am Mar 20, 2011 5:05am
Hello everybody

Hey Ghous. What do you think of the Friday PB in USDCAD? Although it has bounced from the 0.9800 yet it is almost touching the trend line as in the attached chart and is in a large consolidation area. Do you agree that it is a pass?

Any comments

Thanks
Ammar
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