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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

  • #94,061
  • Apr 19, 2011 11:45am Apr 19, 2011 11:45am
Quoting Ifmyante
Sorry I didn't see your questions 'til now.

I have the simplest view on the thread I'm sure, of where the FTA is

On a long:
The last place it was clearly decided that the asset was too expensive, and price shot down

On a short:
The last place it was clearly decided that the asset was too cheap, and price shot up

I've put a few on a chart below
Chart are great, thanks
  • #94,062
  • Edited 12:53pm Apr 19, 2011 12:35pm | Edited 12:53pm
Quoting Ifmyante
GU is in an H4 flag pattern.
One more question, if you let.
Only some thoughts.....
Yes, this is flag on H4, but......... if we trade on Weeklydaily..... what we have?

If im right....using Jarroo methodology we wait PA at 6250-6300, because this is confluence HCR (weekly) that price PBT&CA, EMA, upper border of consolidation and RN 63.
Can this BUOB, that closes above 6300 be thus that we wait???
Or we must wait for much better PA, for example on Daily?
What do you think about this?
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  • #94,063
  • Apr 19, 2011 12:42pm Apr 19, 2011 12:42pm
If recent hourly breaks out and closes above the box !!!

Is it worth while to take the trade watching the FTA?

I think it is not ! Do you? I rather see it smashes through the daily highs and give me a bullish retrace set up . What you reckon ?

Cheers

V
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  • #94,064
  • Apr 19, 2011 1:10pm Apr 19, 2011 1:10pm
Quoting V1ruSok
One more question, if you let.
Only some thoughts.....
Yes, this is flag on H4, but......... if we trade on Weeklydaily..... what we have?

If im right....using Jarroo methodology we wait PA at 6250-6300, because this is confluence HCR (weekly) that price PBT&CA, EMA, upper border of consolidation and RN 63.
Can this BUOB, that closes above 6300 be thus that we wait???
Or we must wait for much better PA, for example on Daily?
What do you think about this?
What's on your weekly chart gives me no signal to do anything.

Zoom out and the whole pair looks pretty aimless.

Knowing though that PBT & CA is very helpful for lower TF setups. Follow Jarroo's posts for what to look for when trading his method. It should keep you out of trouble


On H4, your BUOB (I don't have one on my feed) did react to the FTA (Salmon area). In a bearish market, it could easily have retraced back to the blue area. But it now seems to be moving slowly up again.
It has alot of traffic ahead of it, so don't expect a stampede of Bulls, but it isn't doing badly all the same.
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  • #94,065
  • Apr 19, 2011 1:25pm Apr 19, 2011 1:25pm
Quoting V1ruSok
Wow)
Talking with u this is as to the ordinary man to communicate with the president.
You, James & Jarroo like a Buddha for the Buddhists for me.
This may heard funny, but it is so.

May you answer the question?
In one of your videos, you talking about BUOB of continuation of the trend on NZDUSD.
Last week I saw a similar example, but don't trade it because i newbie in PA and don't experienced a similar situation. I trade demo, like James says, but i try not to risk.
Can you say a few words about criteria which you trade this setup?
This is A?...
Hey V

Thank you for your kind words. Sorry for missing this(the delayed thing for new posters )

You are very very close, and continuations ARE more tricky. The biggest issue there is the bar closed neutral like. Meaning the open and close near the middle of the bar. To me this shows indecision as opposed to true bullish strength. I want to see a very strong close in that case above those highs.

chart

Best
Mike
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  • #94,066
  • Apr 19, 2011 3:29pm Apr 19, 2011 3:29pm
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  • #94,067
  • Apr 19, 2011 3:40pm Apr 19, 2011 3:40pm
This is it, I think
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  • #94,068
  • Apr 19, 2011 3:47pm Apr 19, 2011 3:47pm
Quoting Adilius07
This is it, I think
Aren't we trade into the FTA/Resistence in that case?
  • #94,069
  • Apr 19, 2011 3:49pm Apr 19, 2011 3:49pm
Quoting leelar
Aren't we trade into the FTA/Resistence in that case?
Hi Leelar, which one 1.3 you mean? Yes, that's why I highlighted it, by then one should be either at BE or take his profits as James teaches in "this is critical".
  • #94,070
  • Apr 19, 2011 3:54pm Apr 19, 2011 3:54pm
Quoting Adilius07
Hi Leelar, which one 1.3 you mean? Yes, that's why I highlighted it, by then one should be either at BE or take his profits as James teaches in "this is critical".
Cool
  • #94,071
  • Apr 19, 2011 4:03pm Apr 19, 2011 4:03pm
just my thoughts about this EURCHF BUOB...
BUOB failed to CA 1.29..
i think even if it breaks 1.29..price may find furthur struggle at 1.2960(still 60pip space but would take too much of monitoring)..looks worrisome?i derived 1.2960 from weekly though!
another daily setup that get passed..

let see,interesting to watch!
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  • #94,072
  • Apr 19, 2011 4:09pm Apr 19, 2011 4:09pm
Quoting Adilius07
This is it, I think
Nicely found Adi!

Break or RT?
  • #94,073
  • Apr 19, 2011 4:13pm Apr 19, 2011 4:13pm
Quoting Ifmyante
Nicely found Adi!

Break or RT?
I hope, let's see.

Break yes. RT's are little tricky for me at this stage, already tried and got stopped out and the bar never broke.... tried waiting for the Setup Bar to triger and then RT - but that's too much for my nervous system, lol, missed a few very nice trades! So I'm now back to break of a setup bar. yes.
  • #94,074
  • Apr 19, 2011 4:14pm Apr 19, 2011 4:14pm
Remember- never ever ever take a divergence trade on divergence only. Find you supporting cast which in this case was a solid support area and a bullish outside bar. Dont play arounf with your stop either.

Ive either caught a small winning trade here or ive caught a bottom with huge upside potential..

What i havnt caught is a loss.
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  • #94,075
  • Apr 19, 2011 4:27pm Apr 19, 2011 4:27pm
Quoting james16
Remember- never ever ever take a divergence trade on divergence only. Find you supporting cast which in this case was a solid support area and a bullish outside bar. Dont play arounf with your stop either.

Ive either caught a small winning trade here or ive caught a bottom with huge upside potential..

What i havnt caught is a loss.
Nice catch Jim. Good space to your TAs
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  • #94,076
  • Apr 19, 2011 4:30pm Apr 19, 2011 4:30pm
Quoting Adilius07
I hope, let's see.

Break yes. RT's are little tricky for me at this stage, already tried and got stopped out and the bar never broke.... tried waiting for the Setup Bar to triger and then RT - but that's too much for my nervous system, lol, missed a few very nice trades! So I'm now back to break of a setup bar. yes.
That's cool.

How you trade must suit you
  • #94,077
  • Apr 19, 2011 4:32pm Apr 19, 2011 4:32pm
Hi Guys n gals, even though im on demo im sticking to the rules and not trading below daily. I like to skim through lower time frames though and go through the thought process. and have a go at 'spotting'

This is what im seeing on the EURCHF 1H....I know it does look cluttered...i've drawn red lines where I marked the Fibonnaci, let me know if its all wrong or even better if some of it makes sense


All comments welcome.

Thanks
Atemi.
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  • #94,078
  • Apr 19, 2011 5:09pm Apr 19, 2011 5:09pm
Quoting Adilius07
This is it, I think
I would also pass on this one because i see many trouble areas.Comments welcome
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  • #94,079
  • Apr 19, 2011 8:11pm Apr 19, 2011 8:11pm
Quoting atemiwaza
Hi Guys n gals, even though im on demo im sticking to the rules and not trading below daily. I like to skim through lower time frames though and go through the thought process. and have a go at 'spotting'

This is what im seeing on the EURCHF 1H....I know it does look cluttered...i've drawn red lines where I marked the Fibonnaci, let me know if its all wrong or even better if some of it makes sense


All comments welcome.

Thanks
Atemi.
Hey Atemi

Your fibs are off here, I corrected it on my chart

Also if you have to zoom that far in to price to make the pinbar look "big" it's probably a very small one. A good idea is to keep your charts at a fair zoom so it makes the overall picture easier to see

Let me know if my chart helps

Mike
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  • #94,080
  • Apr 19, 2011 10:38pm Apr 19, 2011 10:38pm
Quoting james16
Remember- never ever ever take a divergence trade on divergence only. Find you supporting cast which in this case was a solid support area and a bullish outside bar. Dont play arounf with your stop either.

Ive either caught a small winning trade here or ive caught a bottom with huge upside potential..

What i havnt caught is a loss.

J16

Just trying to get my mind around why you took this BUEOB with such a weak looking close that is below the daily consolidation box on the left and trading straight into the 0.9000 rn.


EDIT: OK, I think I see now. You actually took the BUEOB at the retrace to the IB so are probably already at BE.

Your mention of the BUEOB sort of threw me off there, as I assumed you took the break of it.

Still, this shows us how we can take a BUEOB at the retrace to the previous bar high in such a tight situation.
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