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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

  • #92,321
  • Mar 28, 2011 1:43am Mar 28, 2011 1:43am
Quoting jarroo
Yes, this was a good level to look for bullish PA once Price Broke Through and Close Above the Highest Close of Resistance at the 1.6325.

Price came back a didn't hold as Support and then PBT&CBelow. ..we would then look for this area to now act as Resistance. But Price was on a tear last week.

We can look at the lower time frames and see if there are other confluences and/or PA that fits into these levels.

You can see back at the beginning of the Month Price acted similarly at a similar level on the Daily. On the 4 hour, a BUOB formed at...
Watching this GU chart I can't help but think about the numerous stops there must be below 1.5975. My price alert is set, I'm looking for sellstops below these multiple lows. Have a nice week.
  • #92,322
  • Mar 28, 2011 1:53am Mar 28, 2011 1:53am
Quoting ts63
Watching this GU chart I can't help but think about the numerous stops there must be below 1.5975. My price alert is set, I'm looking for sellstops below these multiple lows. Have a nice week.
Thats really interesting area. I hope someone will eat those stops and draw some nice pa.
  • #92,323
  • Mar 28, 2011 1:56am Mar 28, 2011 1:56am
Quoting ts63
Watching this GU chart I can't help but think about the numerous stops there must be below 1.5975. My price alert is set, I'm looking for sellstops below these multiple lows. Have a nice week.

I'm sure there are many stops at or below that level. . . lol. A Daily close below the 1.6 will be telling.

I would have liked to have seen the Weekly Close below the 1.6 . .then we would have had a Weekly BEOB engulfing this nice consolidation area. It could have been the setup of the year.

I do like that this BEB (last week's bar) did take out the Highs. Your sell stops look to be well protected . .
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Indicators show the past. Price Action "Indicates" the future.
  • #92,324
  • Mar 28, 2011 2:02am Mar 28, 2011 2:02am
Quoting jarroo
Yeah this is a similar story as the Usd/Jpy . . Double Inside bar. That's what I was looking for the Usd/Jpy to do . .break to the BRN, which the Usd/Chf did to 90.00. . . the 80.00 BRN on the Jpy.

You can see why Mike doesn't trade into BRNs . . its better to WAIT until Price gets to the BRN and then see what story unfolds.

This BUOB may not have been big enough for some to take but it is interesting to note where it formed. At a BRN 90.00 and its low hit the Lowest Close of Support of the Swing Low.
Hey jarroo,you really have the gift of telling the story,I've seen the ibars and was expecting the price to break short,this ideea was fixed in my mind and that buob didnt"light the bulb".I really have to stop this and start to trade what is on the chart and not what I was hoping to happen.
Thank you for your thoughts.
  • #92,325
  • Mar 28, 2011 2:08am Mar 28, 2011 2:08am
Kaboom ?
  • #92,326
  • Mar 28, 2011 2:14am Mar 28, 2011 2:14am
Quoting aserbfx
touch-trade opportunity on eur/aud.
wait for price-action confirmation on the lower timeframes.
The .3900ish level gave a bit of a bounce albeit a small one .. this doesn't mean that the level is not a strong one as you have indicated by the PPZ level that is there.

More often then not . . not 100%, of course . . but more often then not if these levels do not hold as expected or indicated . .in this case as Support . . . they will return to their previous status, in this case Resistance. Especially when Price closes above or below.

I'm sure you seen this occurr, aserb. . .with all the charts you see.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,327
  • Mar 28, 2011 2:16am Mar 28, 2011 2:16am
Quoting ts63
Kaboom ?
Nothing beats a good hard break .. .
Indicators show the past. Price Action "Indicates" the future.
  • #92,328
  • Mar 28, 2011 2:20am Mar 28, 2011 2:20am
Quoting madboy
Hey jarroo,you really have the gift of telling the story,I've seen the ibars and was expecting the price to break short,this ideea was fixed in my mind and that buob didnt"light the bulb".I really have to stop this and start to trade what is on the chart and not what I was hoping to happen.
Thank you for your thoughts.

Are you talking about the ibars breaking to the down side again on the Usd/Chf?
Indicators show the past. Price Action "Indicates" the future.
  • #92,329
  • Mar 28, 2011 2:34am Mar 28, 2011 2:34am
Quoting jarroo
Are you talking about the ibars breaking to the down side again on the Usd/Chf?
See chart...
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  • #92,330
  • Mar 28, 2011 2:38am Mar 28, 2011 2:38am
Quoting jarroo
Looks like your trade plan is working out , ts. . .nice.

The Support level at the 80.65 was holding up strong. A bar Close below this level would have be telling with an eye at the 80.00 BRN.

The 82.00 should be interesting to watch.

please do my life a favour og holding me by the hand and make me succeed in this business. i wont mind how long it's gonna take. pls!!!!
  • #92,331
  • Edited 3:13am Mar 28, 2011 2:41am | Edited 3:13am
Quoting spookie94
Hey ghous,
What do you think of this IPB?
Quoting ghous
I see the story there Spookie and I won't be surprised if Jarroo is thinking about this one.

For me though the fact that we are so near a swing high in this case is enough to shoo me away.

g.
I agree ghous . .as a stand alone IPB it wouldn't make the cut by a long shot. But as another piece of the whole story of what Price was telling at the .8650 . .its was just an added confluence of bullishness.

Quoting ghous
Yeah and that's why I also felt it has a good story to it

g.
Indicators show the past. Price Action "Indicates" the future.
  • #92,332
  • Edited 4:43am Mar 28, 2011 2:47am | Edited 4:43am
Quoting brighty3k
please do my life a favour og holding me by the hand and make me succeed in this business. i wont mind how long it's gonna take. pls!!!!
Taking you by the hand won't work, brighty. You have to study the material and practise in Demo then study and practise more. You have to see it work for yourself. . .trust me, you'll be better off.

Have you gone through the guest videos? The 1st post?

http://www.james16group.us/Guests/guestmaterial.html
Indicators show the past. Price Action "Indicates" the future.
  • #92,333
  • Mar 28, 2011 2:54am Mar 28, 2011 2:54am
Quoting madboy
See chart...
I see. Yes, once there was a bullish bar engulfing the entire ibars and/or Price hitting the top or other side of the ibars .. . it ended the setup.
Indicators show the past. Price Action "Indicates" the future.
  • #92,334
  • Mar 28, 2011 3:40am Mar 28, 2011 3:40am
Quoting plund
Nice looking eurjpy 4 h buob on top of that blue box. Will take half of near 115 and move to BE.

Attachment

Great target, plund.

Interesting where Price retraced back to twice. .the good old previous bar high of the BUOB. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #92,335
  • Mar 28, 2011 3:51am Mar 28, 2011 3:51am
Quoting jarroo
Great target, plund.

Interesting where Price retraced back to twice. .the good old previous bar high of the BUOB. . .

Watching this level on the Gbp/Aud. .previous bar High of the Weekly BUOB.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,336
  • Mar 28, 2011 5:01am Mar 28, 2011 5:01am
Any thougth about it?Because I like it.
Thanks
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  • #92,337
  • Mar 28, 2011 5:07am Mar 28, 2011 5:07am
Quoting Panthera
Any thougth about it?Because I like it.
Thanks
Yep, I like it too and I'm already in
  • #92,338
  • Mar 28, 2011 5:15am Mar 28, 2011 5:15am
How did you enter and where?
I am not sure, for newbie (how I am)it is better for wait till the break or the candle?
What do you think?
Thanks
Mónika
  • #92,339
  • Mar 28, 2011 5:17am Mar 28, 2011 5:17am
Quoting Panthera
How did you enter and where?
I am not sure, for newbie (how I am)it is better for wait till the break or the candle?
What do you think?
Thanks
Mónika
Yes, as a newbie myself I enter on break only.
This is FxPro.

BEOB at swing high, engulfing 3 bars, closing below 2.
Room to move to FTA. With Div at RN.
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  • #92,340
  • Mar 28, 2011 5:22am Mar 28, 2011 5:22am
Oh, well myone is with alpari and just closed now (19 minute ago)
How may pips do you wait after the break?
Or do you put just straight away under it with 1pip your order?
And did you see the 150Ma how cool it helped?
I do not usually chek it but now it is beautifull on my chart if I use it....
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