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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

  • #94,821
  • May 3, 2011 9:18pm May 3, 2011 9:18pm
it is just a failed trade why does there have to be an explanation? A failed trade is a failed trade nothing wrong with that.


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
  • #94,822
  • May 3, 2011 11:00pm May 3, 2011 11:00pm
Quoting mbqb11
I simply removed them(even after years of using them, mostly the longer term ones) b/c I could see the story without them....

Thanks for the explanation Mike.

I can understand your position on the EMA's coming from your story building and indeed your preference for the story.

Basically, I use the EMAs only as moving S&R and watch if we get a close above or below. That is the weight I put in them.
  • #94,823
  • May 4, 2011 4:10am May 4, 2011 4:10am
Quoting Razorman
it is just a failed trade why does there have to be an explanation? A failed trade is a failed trade nothing wrong with that.
I'm simply saying it wasn't a viable trade until the buy orders above had been triggered.

It's vitally important and very profitable to see where the orders are

Best

If
  • #94,824
  • May 4, 2011 4:19am May 4, 2011 4:19am
I was in the GBPJPY too and did not expect that many sellers there, but they were there......I think things like this can happen.....was a little painful ....but next time will be better
Monika
  • #94,825
  • May 4, 2011 4:39am May 4, 2011 4:39am
If this one close as is or better I don't see any reason to not taking it!
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  • #94,826
  • May 4, 2011 4:42am May 4, 2011 4:42am
EURUSD primed for a breakout.

SG
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  • #94,827
  • May 4, 2011 4:46am May 4, 2011 4:46am
Quoting Adilius07
If this one close as is or better I don't see any reason to not taking it!
The fact it's not at a swing low, and hasn't penetrated the level would put me off, and it's not the strongest pivot. But closed above the 1.65BRN, nice clear target aswell..

SG

Edit: IF it closes above 1.65
  • #94,828
  • May 4, 2011 4:48am May 4, 2011 4:48am
Quoting Sgrb1
The fact it's not at a swing low, and hasn't penetrated the level would put me off, and it's not the strongest pivot. But has closed above the 1.65BRN, nice clear target aswell..

SG
I agree level penetration would've been much better.
But why is it not swing low?

Btw, I am taking it off Alpari H4 (where if you combine last two bars you see H8 BUOB too) it will close in 11 min.. Oanda's H8 will close in 2h 11min (the bar on my chart)
  • #94,829
  • May 4, 2011 5:03am May 4, 2011 5:03am
Quoting Panthera
I was in the GBPJPY too and did not expect that many sellers there, but they were there......I think things like this can happen.....was a little painful ....but next time will be better
Monika
Its not that they were there waiting to be hit. Those price entry bars we are trading are nothing more then a result of past movement and current sentiment representation and we are playing them in hope that current sentiment will last. Yesterday inflation data from UK came a lot worse then expected so chances for rate hike decreased so thats why you were witnessing this large selloff. Market is not static , its reacting to every available information.
  • #94,830
  • May 4, 2011 5:05am May 4, 2011 5:05am
Thanks Greenhaze, I appreciate your comment!
Monika
  • #94,831
  • May 4, 2011 5:29am May 4, 2011 5:29am
Hi folks

took a 1hr PB entering at 1.6465 with a SL at 1.6415. TP at 1.6580.

Any thoughts?
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  • #94,832
  • May 4, 2011 5:32am May 4, 2011 5:32am
Hi guys, any takers on this PB at BRN??
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  • #94,833
  • May 4, 2011 5:42am May 4, 2011 5:42am
I used to think that 120 is a PPZ for eurjpy, but it doesnt seem really respected atm. So my thinking is, I cant trade a reliable PA off 120 unless it is a super gigantic bar. Is that correct?
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  • #94,834
  • May 4, 2011 6:09am May 4, 2011 6:09am
Quoting Adilius07
If this one close as is or better I don't see any reason to not taking it!
fair sized bar.
it has moved lower now.

if it closes at a better price & as a BUOB, i'd like a good momentum break & watch 1.6550, 1.6580 areas, 1.6600, 1.6620-30area.

Quoting Sgrb1
The fact it's not at a swing low, and hasn't penetrated the level would put me off, ...
good point Sir!
ideally, 1.65 area would hold as support.

Quoting antgal23
Hi folks
took a 1hr PB entering at 1.6465 with a SL at 1.6415. TP at 1.6580.
nice.
please see above..
1.65 holding as support would be great for your trade.
manage it well!

Quoting mission
Hi guys, any takers on this PB at BRN??
personally, i would want to see more weakness before i short this.
IMHO, eur is/has been stronger than gbp.
if it drops, potential trouble areas are 0.8970area, then 0.8900-50.
  • #94,835
  • May 4, 2011 6:20am May 4, 2011 6:20am
Quoting supremeChaos
fair sized bar.
it has moved lower now.

if it closes at a better price & as a BUOB, i'd like a good momentum break & watch 1.6550, 1.6580 areas, 1.6600, 1.6620-30area.
This is the setup I am currently long from.
Well it does fit as A+ for me:
1) BRN
2) Swing low
3) Swing bar
4) Strong close
5) Space
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  • #94,836
  • May 4, 2011 6:37am May 4, 2011 6:37am
Quoting Adilius07
This is the setup I am currently long from.
Well it does fit as A+ for me:
1) BRN...
i see.
this Alpari UK chart looks better than that Oanda chart.

the 'look' of the swing low doesnt look pretty to me, i'd prefer a steeper one.
if it doesnt work, the market has another thing in mind.
if it does work, u know the potential areas price can stall on, so manage accordingly.
  • #94,837
  • May 4, 2011 6:42am May 4, 2011 6:42am
making higher lows so trade seems to have enough money on board

will get SL to BE at 1.6540 and close 2/3s at 1.6580 as i expect a kick off 1.66
  • #94,838
  • May 4, 2011 6:45am May 4, 2011 6:45am
Quoting aserbfx
let's see if this can get some strength during the asian session.
eur/aud with a nice breakout...
+50 pips so far. ready to move stop to break even.
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meine augen sind die sterne
  • #94,839
  • May 4, 2011 6:59am May 4, 2011 6:59am
Quoting aserbfx
+50 pips so far. ready to move stop to break even.


alles Geld nach Deutschland ! gogo!

Hero calls followed by margin calls...
  • #94,840
  • May 4, 2011 7:17am May 4, 2011 7:17am
let's watch out this potential setup next week !
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