james16 Chart Thread | Page 4623 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #92,441
  • Mar 29, 2011 5:01pm Mar 29, 2011 5:01pm
Quoting leelar
this failed. love to learn from mistake.

Thanks

Attachment
Hey Lee

Here was my post from yesterday hopefully it can help you
http://www.forexfactory.com/showthre...89#post4504489

Best
Mike
  • #92,442
  • Mar 29, 2011 6:07pm Mar 29, 2011 6:07pm
Not clear how this "failed".
There is no PB on my GMT feed but taking the PB in the posted chart there is a bullish PB on the daily sending price back into the box of consolidation it has been in for over the last month.
On the posted chart and my own feed, price stayed inside the box. Early days but if past performance is any guide, price will continue up into the box.

To my eye (at this stage) the PB did what the label on the tins said; it sent price back into the box. A vindication of the sign not a failure. On my feed if a stop loss were placed beyond the end of the PB it would not have been triggered.
  • #92,443
  • Mar 29, 2011 6:12pm Mar 29, 2011 6:12pm
BRN, ppz, swing high, divergence...waiting for PA
Attached Image (click to enlarge)
Click to Enlarge Name: wpg75.gif Size: 23 KB
  • #92,444
  • Mar 29, 2011 7:45pm Mar 29, 2011 7:45pm
RN, PPZ, 78.6 Retracement...waiting
Attached Image (click to enlarge)
Click to Enlarge Name: wpg76.gif Size: 26 KB
  • #92,445
  • Mar 29, 2011 7:54pm Mar 29, 2011 7:54pm
Quoting Donkey
RN, PPZ, 78.6 Retracement...waiting
Hey D.

I notice you and Mike have BRN's plotted on your charts,. Do you do that manually or is it in your template?
" I can read the left side of the chart, the right side's a Bitch!
  • #92,446
  • Mar 29, 2011 8:07pm Mar 29, 2011 8:07pm
Quoting leelar
this failed. love to learn from mistake.

Thanks

Attachment
Hi Lee. Mike covered the bar but I thought I would add something. I don't see bullish divergence. If I look at your chart, it looks like you drew the divergence from the highs on the chart, but from the lows on MACD. When checking divergence you want to compare highs to highs and lows to lows on chart and Macd...the bearish divergence (magenta) actually gave a heads up to the mvoe down from 1.6400.
Attached Image (click to enlarge)
Click to Enlarge Name: wpg77.gif Size: 23 KB
  • #92,447
  • Mar 29, 2011 8:18pm Mar 29, 2011 8:18pm
Quoting poncho1
Hey D.

I notice you and Mike have BRN's plotted on your charts,. Do you do that manually or is it in your template?
It's an indicator in a template I use. I have the color scheme I like, 150/365 ema's, bar end indicator, and round number indicator in the template.
  • #92,448
  • Mar 29, 2011 8:51pm Mar 29, 2011 8:51pm
Quoting six gun
Not clear how this "failed".
There is no PB on my GMT feed but taking the PB in the posted chart there is a bullish PB on the daily sending price back into the box of consolidation it has been in for over the last month.
On the posted chart and my own feed, price stayed inside the box. Early days but if past performance is any guide, price will continue up into the box.

To my eye (at this stage) the PB did what the label on the tins said; it sent price back into the box. A vindication of the sign not a failure. On my feed if a stop loss were...
SixGun, ur right, I had to correct myself, the SL is not triggered yet. I was thinking that this would be a quick shot back up.

Let's see how this goes.

Thanks Mike, I do agree with the small PB.
  • #92,449
  • Mar 29, 2011 9:28pm Mar 29, 2011 9:28pm
Quoting Donkey
Hi Lee. Mike covered the bar but I thought I would add something. I don't see bullish divergence. If I look at your chart, it looks like you drew the divergence from the highs on the chart, but from the lows on MACD. When checking divergence you want to compare highs to highs and lows to lows on chart and Macd...the bearish divergence (magenta) actually gave a heads up to the mvoe down from 1.6400.
YES, YES, YES, thanks for your correction.
  • #92,450
  • Mar 29, 2011 10:49pm Mar 29, 2011 10:49pm
Started looking at monthlies tonight. It's a little early, but the EJ break out of the monthly consolidation is certainly looking A+++ to me. Tempted to get in before the bar closes.
Attached Image (click to enlarge)
Click to Enlarge Name: wpg79.gif Size: 24 KB
  • #92,451
  • Mar 29, 2011 10:53pm Mar 29, 2011 10:53pm
Quoting Greenhaze
A+ trade imo.

Stops were tipped...price went back above the 1.5980 level with strong momentum....slowly retraced to 1.5980....and kaboom, h1/m30/m15 strong buob bar. It wont get much easier then this.

I agree GH. . .excellent trade.

No Daily Close below the 1.5980. . .strong Support. . .bottom of the Daily consolidation but mainly the Weekly bottom consolidation. Although that 1.6 BRN sticking out like sore thumb.

I like these at tops and bottoms of consolidations. They work really well. I think is because of that whole market-moves-sideways-most-of-the-time type of thing . ..

Catching a top or bottom of a consolidation area can be very predictable.
Attached Image (click to enlarge)
Click to Enlarge Name: gu30.jpg Size: 115 KB
Indicators show the past. Price Action "Indicates" the future.
  • #92,452
  • Mar 29, 2011 11:03pm Mar 29, 2011 11:03pm
Hi folks!

On my demo account, this Pinbar failed. Your inputs will be highly appreciated.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_failed.jpg Size: 112 KB
  • #92,453
  • Mar 29, 2011 11:03pm Mar 29, 2011 11:03pm
Hey Donkey . .looks like we finally broke away from the consolidation on the Eur/Jpy. Looking for strong Support at the 115.00-115.50 . .
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy30.jpg Size: 84 KB
Indicators show the past. Price Action "Indicates" the future.
  • #92,454
  • Mar 29, 2011 11:42pm Mar 29, 2011 11:42pm
I'm looking to see if Price can move back up to the .9760 on the Usd/Cad and find Resistance there. If it doesn't find Resistance, it should find Support again we'll to see what develops if it gets there.
Attached Image (click to enlarge)
Click to Enlarge Name: cad30.jpg Size: 90 KB
Indicators show the past. Price Action "Indicates" the future.
  • #92,455
  • Mar 29, 2011 11:45pm Mar 29, 2011 11:45pm
Quoting jarroo
Watching this level on the Gbp/Aud. .previous bar High of the Weekly BUOB.

Still watching and waiting on the Gbp/Aud.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud30.jpg Size: 77 KB
Indicators show the past. Price Action "Indicates" the future.
  • #92,456
  • Mar 30, 2011 12:03am Mar 30, 2011 12:03am
Quoting Atc
Boy that daily PB looked picture perfect/double top ....but right into parity close above parity...but I am picky and my rules don't allow to take these.

Did anyone take this on the lower time frame after bar closed below 1.0?

Looking at the Weekly, the Highest Close of Resistance this year was . . no surprise, parity. Price finally closed above this level last week. Looking for it to act as Support now.

With that in mind, this 4 hour BUOB looks pretty good. . . the story fits.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audcadw.jpg Size: 91 KB
Click to Enlarge Name: audcadw44.jpg Size: 85 KB
Indicators show the past. Price Action "Indicates" the future.
  • #92,457
  • Mar 30, 2011 12:08am Mar 30, 2011 12:08am
Quoting jarroo
Looking at the Weekly, the Highest Close of Resistance this year was . . no surprise, parity. Price finally closed above this level last week. Looking for it to act as Support now.

With that in mind, this 4 hour BUOB looks pretty good. . . the story fits.
Also this Daily PB, it closed above. It should be interesting to see if this small bullish PB beats the bigger bearish PB based on how the PPZ level is acting . .which is now Support .. because Price broke through and closed above on the Weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: audcadw44dd.jpg Size: 90 KB
Indicators show the past. Price Action "Indicates" the future.
  • #92,458
  • Mar 30, 2011 12:31am Mar 30, 2011 12:31am
eur chf at possible touch trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ec16.gif Size: 21 KB
meine augen sind die sterne
  • #92,459
  • Mar 30, 2011 12:43am Mar 30, 2011 12:43am
ko. watch for a breakout today. above 66 usd.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ko8.gif Size: 21 KB
Click to Enlarge Name: ko9.gif Size: 21 KB
meine augen sind die sterne
  • #92,460
  • Mar 30, 2011 12:48am Mar 30, 2011 12:48am
Alot of times, a strong level Resistance will break and close above but will not turn into strong Support (and vice versa).

What will happen more often then not (not 100% of course, more like 90% of the time) it will revert back to Resistance. I'm sure many have seen this happen before.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud30.jpg Size: 72 KB
Indicators show the past. Price Action "Indicates" the future.
44 traders viewing now