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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

  • #92,261
  • Mar 25, 2011 9:57am Mar 25, 2011 9:57am
This one is now on my radar. I love it really.
But would be interesting to hear any comments especially critisim please!
This is W2.
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  • #92,262
  • Edited 10:29am Mar 25, 2011 10:07am | Edited 10:29am
Does anybody know why are Nzd and Aud so strong.Price has reached some important zones and some pin's would be very nice?Let'see
  • #92,263
  • Mar 25, 2011 10:09am Mar 25, 2011 10:09am
Thanks for answering, I can wait for the day when the light comes at the and of the cave....right now when I concentrate on something (location) I forget others (size of the PA), maybe this is a girlish thing, but I will not give up, and want to learn, and the help from you guys is water in the desert
Yes you are right I should go to party to!!!I need it....
Next week should be better!
  • #92,264
  • Mar 25, 2011 10:42am Mar 25, 2011 10:42am
Quoting Adilius07
This one is now on my radar. I love it really.
But would be interesting to hear any comments especially critisim please!
This is W2.
If it closes like this I love it, but don't take my word for it. Sorry can't really find any criticism, other than for me two week time frame is too long. (not patient enough for those setups). Might do an exception on this one though.

I was in on the breakout of 1.5700 and the triple lows on 15 min timeframe with daily time frame in mind. From what Jarroo is teaching us we had a daily close below all other closes on that support level, lowest close of support, if got the terminology right (correct me if I'm wrong) and lots of space for the trade to move.

Got out at 1.5650, could probably have been holding on to this one, but not really used to play breakouts so I chickened out after 50 pips.

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  • #92,265
  • Mar 25, 2011 10:50am Mar 25, 2011 10:50am
Quoting plund
If it closes like this I love it, but don't take my word for it. Sorry can't really find any criticism, other than for me two week time frame is too long. (not patient enough for those setups). Might do an exception on this one though.

I was in on the breakout of 1.5700 and the triple lows on 15 min timeframe with daily time frame in mind. From what Jarroo is teaching us we had a daily close below all other closes on that support level, lowest close of support, if got the terminology right (correct me if I'm wrong) and lots of space for the trade...
Hi Pat, thanks for reply. That was a nice trade you took, but I am still too chicken for anything below H4.

You are right I also hate it being W2, I remember a demo trade I took that lasted for month without price really going anywhere, lol.

But on the other hand, the higher the TF the more reliable the setup ( I think). And this month I only had 3 trades, so anything that fits my criteria (which become more and more strict with time) must be traded. So if it closes like this I think I'm gonna take it, if it becomes a winner in a month from today that would be ok.

P.S. This close below the lowest support you mentioned, I am also not that much familiar with this, I heard it mentioned by Jarroo a few times too. I think is the same as Price just breaking ALL support and closing below it. (Indicates strong bearish strength). If I got it right...
  • #92,266
  • Mar 25, 2011 11:09am Mar 25, 2011 11:09am
Quoting supremeChaos
hello,
if i may...
quick answer is: Eur strength.
eurusd has been moving up since the start of 2011, with only minor retracements (see Daily chart: u can simply compare the number & strength of upbars vs downbars within that time period)
...& i believe there was news about Portugal earlier (if u read &/or believe news)
So it is the fundies ... too bad i am incapable of incorporating them into my trading at this point in time.
Thanks SC

BTW, on the chart below if one is considering taking the BUOB -where in your opinion the FTA is ? The top or bottom S/R?
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  • #92,267
  • Mar 25, 2011 11:16am Mar 25, 2011 11:16am
Quoting madboy
Does anybody know why are Nzd and Aud so strong.Price has reached some important zones and some pin's would be very nice?Let'see
we need very strong support/resistance and price action to fight these moves. verry strong supply at the moment. be very cautious with any positions and take any trades over the weekend (gaps!).
just mho

chart just for pleasure and for icce-lovers.
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meine augen sind die sterne
  • #92,268
  • Mar 25, 2011 2:36pm Mar 25, 2011 2:36pm
nzd / cad at a good area for some price action.
fib-cluster, minor rn, s/r.
brave touch-traders can take it without confirming pa-signal.
whatever you do: wait for the opening next monday.
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meine augen sind die sterne
  • #92,269
  • Mar 25, 2011 4:25pm Mar 25, 2011 4:25pm
Quoting Adilius07
Hi Pat, thanks for reply. That was a nice trade you took, but I am still too chicken for anything below H4.

You are right I also hate it being W2, I remember a demo trade I took that lasted for month without price really going anywhere, lol.

But on the other hand, the higher the TF the more reliable the setup ( I think). And this month I only had 3 trades, so anything that fits my criteria (which become more and more strict with time) must be traded. So if it closes like this I think I'm gonna take it, if it becomes a winner in a month from...
The 1.5800 area looks like a key to trade manegement process here. It might work as a breakout and retest but.... GBP is acting very weak despite the rate hike rumor compared to the AUD where rates will stay on hold for some time probably and both currency look oversold/bought compared to dollar. My fundamental rumbling keeps me out of this one. My 2c

Have a good weekend all.
  • #92,270
  • Mar 25, 2011 7:58pm Mar 25, 2011 7:58pm
Quoting madboy
Does anybody know why are Nzd and Aud so strong.Price has reached some important zones and some pin's would be very nice?Let'see
I can't help you with the economy Mad Boy, but here's a PB I'm riding on the NZDCAD weekly

The question now is... given that the FTA has been hit on the weeks close and 50% of the trade has been cashed in, HOW DO I MANAGE THIS ENTRY? Do I scale out or let it run? (This one goes out to the forum).
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  • #92,271
  • Mar 25, 2011 9:16pm Mar 25, 2011 9:16pm
Quoting ghous
I can't wait for Wednesday...I really can't!!

g.
  • #92,272
  • Mar 25, 2011 9:36pm Mar 25, 2011 9:36pm
hi, if you don't mind; your trendline looks valid, just a bit concerned at micro level, you may find something interesting if zoom out monthly; it looks like almost done its journey in short term,imho. however, anything is possible, just my 2 cents



Quoting Adilius07
This one is now on my radar. I love it really.
But would be interesting to hear any comments especially critisim please!
This is W2.
  • #92,273
  • Mar 25, 2011 9:58pm Mar 25, 2011 9:58pm
Thanks very much for the response Supreme Chaos!!
  • #92,274
  • Mar 26, 2011 2:34am Mar 26, 2011 2:34am
Quoting ghous
An entry below the 1.59 is a great idea of course.

Not sure if you have already done it but do go through this gold nugget from the big guy

THIS IS CRITICAL

And yeah I was basically targeting the prior bar highs marking the left eye of the BEOB. Price never pulled back and its one of those times when you just sit out and watch the trade play out like mad. lol

g.
Yup I have read it. Thanks for the help. I am learning every day from you all. It is a great experience here in this thread.

Thanks
Ammar
  • #92,275
  • Mar 26, 2011 3:01am Mar 26, 2011 3:01am
Quoting 5.25
I can't help you with the economy Mad Boy, but here's a PB I'm riding on the NZDCAD weekly

The question now is... given that the FTA has been hit on the weeks close and 50% of the trade has been cashed in, HOW DO I MANAGE THIS ENTRY? Do I scale out or let it run? (This one goes out to the forum).
Nice
  • #92,276
  • Mar 26, 2011 4:05am Mar 26, 2011 4:05am
Quoting aserbfx
unilever on daily with a strong close. be prepared for breakout and an approach of 1900 p.
done the next day.
entry was not possible because of the gap-up. part of the game...
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meine augen sind die sterne
  • #92,277
  • Mar 26, 2011 5:16am Mar 26, 2011 5:16am
emc ready for a break-out.
daily volume of last three days raise steadily.
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meine augen sind die sterne
  • #92,278
  • Mar 26, 2011 7:40am Mar 26, 2011 7:40am
Quoting Greenhaze
The 1.5800 area looks like a key to trade manegement process here. It might work as a breakout and retest but.... GBP is acting very weak despite the rate hike rumor compared to the AUD where rates will stay on hold for some time probably and both currency look oversold/bought compared to dollar. My fundamental rumbling keeps me out of this one. My 2c

Have a good weekend all.
Quoting jeurre
hi, if you don't mind; your trendline looks valid, just a bit concerned at micro level, you may find something interesting if zoom out monthly; it looks like almost done its journey in short term,imho. however, anything is possible, just my 2 cents
Thanks for your input! After long time analyzing I made my mind to take this trade on a break of BEOB. Will keep you posted. Thanks.
  • #92,279
  • Mar 26, 2011 8:12am Mar 26, 2011 8:12am
aussie osh on daily and weekly.
looks like a good breakout. fridays daily candle with strong closing near the high. will very likely rise further. ( yes, i am aware that price of osh depends partly on the price of oil itself, too.)
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meine augen sind die sterne
  • #92,280
  • Mar 26, 2011 8:25am Mar 26, 2011 8:25am
Anyone interested in further analyzing this pair?
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