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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

  • #94,801
  • May 3, 2011 8:28am May 3, 2011 8:28am
my gold trade today, took half off let the rest to run see if i can catch a trend.
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  • #94,802
  • May 3, 2011 10:14am May 3, 2011 10:14am
Quoting vasmiza
Another great example of a failed BEOB at a swing high (check out the daily EURCAD people). Bars by themselves (even if they are at swing highs mean nothing). Confluence is what we look for [not bars].

I was looking to go long at the major resistance level turned into support (the PPZ). People were telling me to stay away because we had a BEOB at swing high on daily. It got eaten up like no tommorrow. A great example of a strong PPZ trumping over that BEOB.
hey vasima, that bar never broke so we cant call it a failed setup.
But make no mistake they do fail. if they didnt we would all be rich

jon
PATIENCE... DISCIPLINE
  • #94,803
  • May 3, 2011 10:24am May 3, 2011 10:24am
This one is I think really not a setup we want to trade as support was super obvious (even to me).

Some traders take touch trades off solid support like this (like Wizard style).
So no surprise here I think.
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  • #94,804
  • May 3, 2011 10:37am May 3, 2011 10:37am
Quoting Adilius07
This one is I think really not a setup we want to trade as support was super obvious (even to me).
Hi Adi, I may have understood your comment wrongly, but surely the more obvious the trade the better? And that goes for PPZs, TLs etc..
  • #94,805
  • May 3, 2011 10:52am May 3, 2011 10:52am
Quoting Sgrb1
Hi Adi, I may have understood your comment wrongly, but surely the more obvious the trade the better? And that goes for PPZs, TLs etc..
Sorry I mean that Bearish BEOB a few days ago.
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  • #94,806
  • May 3, 2011 11:08am May 3, 2011 11:08am
my partial position on gold trade got stopped out lets see if i can get in lower maybe.
  • #94,807
  • May 3, 2011 11:14am May 3, 2011 11:14am
go on silver!! tanking today!!!

took a demo short from the retest of the 4h pinbars low, 50% fib confluence of the swing. Quite a large stop but couldnt see any thing very strong below that price.. most is now closed but left some to hopefully run....

jon
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PATIENCE... DISCIPLINE
  • #94,808
  • May 3, 2011 11:35am May 3, 2011 11:35am
A classic PA setup in DuPont.

Bearish engulfing at a swing high with MACD divergence. It's a Dow 30 stock and the Dow also put in a bearish pin bar which adds confluence.

I normally look for the intraday entry if I can find it but this is a stock and I'm unfamiliar with their movements intraday so I played this one the old fashioned way.

Closed 50% for 83 ticks at the FTA and I've now moved my stop to above the day high, looking for a run on the next D1 level.

Tom
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  • #94,809
  • May 3, 2011 12:13pm May 3, 2011 12:13pm
Ok, here is EURAUD D2 BUOB. Looks good to me again.
Well some sideways action yes? But on the other hand it also may look like it is breaking out of the minor TL.
Still thinking...
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  • #94,810
  • May 3, 2011 12:19pm May 3, 2011 12:19pm
Quoting the_wizard
A classic PA setup in DuPont.

Bearish engulfing at a swing high with MACD divergence. It's a Dow 30 stock and the Dow also put in a bearish pin bar which adds confluence.

I normally look for the intraday entry if I can find it but this is a stock and I'm unfamiliar with their movements intraday so I played this one the old fashioned way.

Closed 50% for 83 ticks at the FTA and I've now moved my stop to above the day high, looking for a run on the next D1 level.

Tom
good trade wiz. my kind of trade setup also.
just wondering if you use TLs at all in these set ups?

cheers

jon
PATIENCE... DISCIPLINE
  • #94,811
  • May 3, 2011 12:27pm May 3, 2011 12:27pm
Hello guys..jus thinking if this could be good short touch trade...
PPZ @ 1.87RN coincides with 365EMA..i remember James posted about this..he also said such kind of confluence work great!
any thoughts wold be appreciated!
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  • #94,812
  • May 3, 2011 1:14pm May 3, 2011 1:14pm
Quoting mbqb11
Yep the 137 was certainly the very FTA, but you have to decide on your style....
"Never get to high during wins, or too low during losses, otherwise you will make bad decisions after BOTH." This is so true for me. This is definitely my biggest problem.

pat
  • #94,813
  • May 3, 2011 2:02pm May 3, 2011 2:02pm
let's see if this can get some strength during the asian session.
eur/aud with a nice breakout...
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meine augen sind die sterne
  • #94,814
  • May 3, 2011 2:05pm May 3, 2011 2:05pm
Hello guys,
i ve been around all these while digging into these huge thread, one really needs a compass to navigate around u know. Took my first trade based on these methods and made +26 pips . Now i have to go back into the thread, later guys.
  • #94,815
  • Edited 3:45pm May 3, 2011 2:43pm | Edited 3:45pm
Hi all
Just catching up with the thread. Been busy trading like mad

I'm back a few pages in my reading

See you soon

If
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  • #94,816
  • May 3, 2011 2:48pm May 3, 2011 2:48pm
Quoting Adilius07
Ok, here is EURAUD D2 BUOB. Looks good to me again.
Well some sideways action yes? But on the other hand it also may look like it is breaking out of the minor TL.
Still thinking...
You are aggregating price just to get an entry bar. Why not wait for price to reach your location?
  • #94,817
  • May 3, 2011 2:52pm May 3, 2011 2:52pm
Quoting Ifmyante
Hi all
Just catching up with the thread. Been busy trading like mad

I'm back a few pages in my reading

See you soon

If
huh?
Hero calls followed by margin calls...
  • #94,818
  • May 3, 2011 3:04pm May 3, 2011 3:04pm
Quoting Adilius07
Ok, here is EURAUD D2 BUOB. Looks good to me again.
Well some sideways action yes? But on the other hand it also may look like it is breaking out of the minor TL.
Still thinking...
Hi Adi, if it gets past 1.3687, it's looking good 'til 1.3733, where there are lots of tps and short orders

Best

If
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  • #94,819
  • May 3, 2011 3:33pm May 3, 2011 3:33pm
Quoting PhAnTi'
huh?
Hi J

Are you wondering about the text or the chart?

If it's about the text, my first unread post was about 5 pages back.

Best

M
  • #94,820
  • May 3, 2011 6:07pm May 3, 2011 6:07pm
Quoting AvanishDemo
Hello guys..jus thinking if this could be good short touch trade...
PPZ @ 1.87RN coincides with 365EMA..i remember James posted about this..he also said such kind of confluence work great!
any thoughts wold be appreciated!
I went long at 1.83 and am still in. Agree that 1.87 is a PPZ and I am taking partial profit there - but check the weekly. We are in an uptrend. If we blast through 1.87 we could see 2.00 - 1.90 is the next PPZ but even though it is a BRN it seems like weaker resistance than 1.87.
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