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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

  • #93,981
  • Apr 18, 2011 8:57am Apr 18, 2011 8:57am
Quoting Pinbar
I didn't like the close of the H4 BUEOB being below the RN so, I decided to wait and see how the daily closes but, this current bar is so big, if it closes near the top of the current high, it is going to leave very little space to the FTA. I also do not like the TL and the 61.8 fibo confluence with the 1.3400 RN. Any thoughts on this one mike?
Hey Pin

Nothing wrong in waiting I pass on trades all the time I have a good idea where they are going and areas I have been watching. But when all the stars line up the way you like em that's when you will do the best with entries and exits

Here is a chart with the daily

Best
Mike
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  • #93,982
  • Apr 18, 2011 9:08am Apr 18, 2011 9:08am
looney heads up:

at major supply at the moment.

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Hero calls followed by margin calls...
  • #93,983
  • Apr 18, 2011 9:10am Apr 18, 2011 9:10am
Quoting mbqb11
Hey Pin

Nothing wrong in waiting I pass on trades all the time I have a good idea where they are going and areas I have been watching. But when all the stars line up the way you like em that's when you will do the best with entries and exits

Here is a chart with the daily

Best
Mike

Thanks Mike

I somehow have it in my mind that this weekly bar high is a dodgy area.
probably because of the size of this daily bar and the lack of space to this area.
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  • #93,984
  • Apr 18, 2011 9:11am Apr 18, 2011 9:11am
Quoting Pinbar
Thanks Mike

I somehow have it in my mind that this weekly bar high is a dodgy area.
probably because of the size of this daily bar and the lack of space to this area.
I don't like to jump around timeframes too much myself, gets to be overload. But check out the purple line I marked and what does that happen to line up with too

Best
Mike
  • #93,985
  • Apr 18, 2011 9:12am Apr 18, 2011 9:12am
Quoting supremeChaos
of course, it was planned:
tank eur$ down like crazy, then hike it back up. isnt it only Monday?
lol thats what mondays are for!
  • #93,986
  • Apr 18, 2011 9:30am Apr 18, 2011 9:30am
Quoting mbqb11
I don't like to jump around timeframes too much myself, gets to be overload. But check out the purple line I marked and what does that happen to line up with too

Best
Mike

You mean these weekly bar highs and lows?
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  • #93,987
  • Apr 18, 2011 10:39am Apr 18, 2011 10:39am
Quoting Pinbar
You mean these weekly bar highs and lows?
Hey Pin

What I was pointing out is how we were discussing the daily and then you pulled in the weekly asking about a trouble area. What I was trying to show is that you can do that analysis right from the daily and see all that needs to be seen. I am not saying that is wrong, in fact it's one in the same(your line is the SAME one I showed on daily). Notice your area, lines up with the trouble area I was showing from the daily and since we were talking about a daily potential setup we can analyze and see it all from the daily perspective.

These levels if important can be seen from the timeframe we are attempting to trade. At least for me. I was just trying to show you that you are seeing good areas, but how I see that same from the daily and it lets me remain focus on that timeframe. For me it avoids some over analysis that I used to get.

Hope that helps , not trying to confuse you, it's the same thing . Just wanted to show people the analysis can be simplified even further by staying on the same timeframe. You will notice James always sticks to same timeframe and I think this is a big big plus in keeping it simplified. Especially if one finds themselves over complicating(which I have no idea if you are so this is also just a general post)
Mike
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  • #93,988
  • Apr 18, 2011 10:56am Apr 18, 2011 10:56am
Anyone else here trading from work? I'm keen to hear your techniques or trading strategy...

I memorised a few charts and entry levels in the morning and monitoring them on Oanda's iphone platform. Charting is pretty limited but it could work
  • #93,989
  • Apr 18, 2011 11:25am Apr 18, 2011 11:25am
what a day
  • #93,990
  • Apr 18, 2011 11:29am Apr 18, 2011 11:29am
With such oversold areas presented today. Some quick pips could of been snapped up today,(not to worry tomorrow around the corner) but the speads were massive with all that volitility around.what happened? Did there interbank system crash or something? Could anyone answer why the banks/institutions were possibly able to make great pips then we could not? interesting.. please comment..
  • #93,991
  • Apr 18, 2011 11:35am Apr 18, 2011 11:35am
I am trying to be more picky, understand the moves and plan my trades.

How you think about this one?

The double bottom makes it interesting still though in a big downtrend.

Edit: USD/CHF that is
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  • #93,992
  • Apr 18, 2011 11:36am Apr 18, 2011 11:36am
5.25,

I trade from work. I have a desk job.

I use logmein.com to directly connect to my home computer. On my home computer I have all of my feeds running.

SO when I have a chance I check the 4 hr bars that are closing.

I only trade 4hr and up and I am really picky so I only trade baout 2-3 trades a month. Not sure I would be able to handle trading any lower timeframes from work though.

Hope that helps a little.

Quoting 5.25
Anyone else here trading from work? I'm keen to hear your techniques or trading strategy...

I memorised a few charts and entry levels in the morning and monitoring them on Oanda's iphone platform. Charting is pretty limited but it could work
  • #93,993
  • Apr 18, 2011 11:47am Apr 18, 2011 11:47am
Quoting dmc
5.25,

I trade from work. I have a desk job.

I use logmein.com to directly connect to my home computer...

Hope that helps a little.
Perfect! Thanks DMC,

I spend HOURS CAD drawing so I'm also pretty much chained to the computer.

Sounds like we're on the same page, 4h+.

I'll check it out for sure.

Someone posted a similar connection but viewable from your iphone. It's cool, but the iphone screen is far too dinky to replace a 17" display. Especially when you add all your charts in!
  • #93,994
  • Apr 18, 2011 11:52am Apr 18, 2011 11:52am
Quoting supremeChaos
hello LoneRanger,
can u show us your daily box, please?
i didnt see any J16 Daily setup on eur$.

as usual... u ideally want a bearish setup at the swing high (or within your daily box), so BEOB or PB, etc... with confluences (BRN etc)

BUT, just a little reminder... if u dont see a setup, u dont need to force a trade. also, a valid setup for one trader might not be a valid &/or tradeable setup for YOU.
if u dont see a setup, just wait for the next eur$ opportunity or move on to other pairs u are watching.
The box that I showed in hourly and 15 minutely late last week and today in the last page ...Is that good enough for a Bearish outlook ..

Cheers Vito
  • #93,995
  • Apr 18, 2011 11:54am Apr 18, 2011 11:54am
Quoting Miko1
I am trying to be more picky, understand the moves and plan my trades.

How you think about this one?

The double bottom makes it interesting still though in a big downtrend.

Edit: USD/CHF that is
i would be very carefull to go against such strength. check out the strength of those down bars. i would like to see something BIG to even think that trend is reversing, especially considering the news today.

jus my view

jon
PATIENCE... DISCIPLINE
  • #93,996
  • Apr 18, 2011 12:05pm Apr 18, 2011 12:05pm
It is short trend but if it close above 1,25?
What about my FTA?
Any comments...
Thanks
Mónika
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  • #93,997
  • Apr 18, 2011 12:07pm Apr 18, 2011 12:07pm
Quoting g_j_hook@yah
i would be very carefull to go against such strength. check out the strength of those down bars. i would like to see something BIG to even think that trend is reversing, especially considering the news today.

jus my view

jon

Makes sense. Thanks for your input. I agree with you. I wouldn't feel comfortable shorting this one but being at this historical low and putting in the double bottom might signal some upmove. PPL must have their targets down there somewhere as well.
SO safer is with the trend. Got it

Another one is the EUR/CHF I am watching. This one is in a range though. Would prefer a clear direction but I made a plan with a possible scenario. What you think?
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  • #93,998
  • Apr 18, 2011 12:11pm Apr 18, 2011 12:11pm
Cool pin could be on H4 shortly, just unlucky, traffic on the left...
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  • #93,999
  • Apr 18, 2011 12:24pm Apr 18, 2011 12:24pm
Quoting Miko1
Makes sense. Thanks for your input. I agree with you. I wouldn't feel comfortable shorting this one but being at this historical low and putting in the double bottom might signal some upmove. PPL must have their targets down there somewhere as well.
SO safer is with the trend. Got it

Another one is the EUR/CHF I am watching. This one is in a range though. Would prefer a clear direction but I made a plan with a possible scenario. What you think?
i like the level also, some nice PA at the 1.2700 level might be interesting, that seems to be the pivotal area. i personally dont mind trading a range like this one. its been ranging all this year so there is room to move but of cause the targets have to conservative. the reason i would stay away from this though is all them problems at every round number from 1.27 to 1.30+, i think it might be a rocky ride if it does move up.?
hope it helps bro

jon
PATIENCE... DISCIPLINE
  • #94,000
  • Apr 18, 2011 12:49pm Apr 18, 2011 12:49pm
Quoting g_j_hook@yah
i like the level also, some nice PA at the 1.2700 level might be interesting, that seems to be the pivotal area. i personally dont mind trading a range like this one. its been ranging all this year so there is room to move but of cause the targets have to conservative. the reason i would stay away from this though is all them problems at every round number from 1.27 to 1.30+, i think it might be a rocky ride if it does move up.?
hope it helps bro

jon
Thanks for your input. I agree. There will be a lot of hurdles in between that range.
But good to see I am not completely off track
Thanks !
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