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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

  • #95,241
  • May 12, 2011 2:30pm May 12, 2011 2:30pm
Quoting mbqb11
Hey B

I am not too convinced of anything right now, the way the markets are. Things look like they may close weak across some of this late snap back which could mean more selling. I would need to see a strong close above the top dotted line to even think it's worth buying. A weak close to me looks like a guy hanging onto a cliff edge with one hand. A much stronger area for a longer term thought process would be the lower dotted line


Best
Mike
Ah gotcha. Your dotted line is right about where I had my confluences too where I hope price can close above before going long. If it does happen it will just be a very quick take profit because I don't think it can run higher than previous swing high. You're right though in that the lower dotted line definitely poised as a better buying opportunity. I guess patience is the game here.
  • #95,242
  • Edited 4:11pm May 12, 2011 3:29pm | Edited 4:11pm
Hi guys,

- Very strong PPZ and top of the box,
-%50 fib of the big swing
but
- The BuOB failed a couple days back.
- The shape of the pinbar could be better.(Touching 114,00)
- Tomorrow is Friday,

All comments are welcome.

Thanks
C80
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  • #95,243
  • May 12, 2011 3:37pm May 12, 2011 3:37pm
Quoting mbqb11
Beautiful bud peeled it right off my desktop (or maybe me from you )

S/R is killer
Couldn't be any more smug right now Thanks for posting!

To quote Mr Hannibal Smith - "I love it when a plan comes together"

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  • #95,244
  • May 12, 2011 3:38pm May 12, 2011 3:38pm
Quoting Crane80
Hi guys,

- Very strong PPZ and top of the box,
-%50 fib of the big swing
but
- The BuOB failed a couple days back.
- The shape of the pinbar could be better.(Touching 114,00)
- Tomorrow is Friday,

All in all, assuming it is all about the location I will take it

All comments are welcome.

Thanks
C80
Hey C80,

with 50 it does not matter but aren't your fibs upside down?

P
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  • #95,245
  • May 12, 2011 3:43pm May 12, 2011 3:43pm
Quoting Crane80
Hi guys,

- Very strong PPZ and top of the box,
-%50 fib of the big swing
but
- The BuOB failed a couple days back.
- The shape of the pinbar could be better.(Touching 114,00)
- Tomorrow is Friday,

All in all, assuming it is all about the location I will take it

All comments are welcome.

Thanks
C80
I'm agreeing with you here. Seems like it's a pretty good set up (in terms of location) but not so much with PA. What does everyone else think?
  • #95,246
  • May 12, 2011 3:45pm May 12, 2011 3:45pm
I think we both see it the same way but put it in different words. I say '' the price retraced back to the %61,8th of the swing'' you say it retraced back to %38,2 fib. It just makes more sense to me that way.

Thanks
C80
  • #95,247
  • Edited 4:23pm May 12, 2011 4:00pm | Edited 4:23pm
hello Mike..js watching
im pretty aware that its a lower swing high..but does the story looks good based on the pattern n CB 1.53?
js need ur thoughts..
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  • #95,248
  • May 12, 2011 4:16pm May 12, 2011 4:16pm
Quoting Crane80
I think we both see it the same way but put it in different words. I say '' the price retraced back to the %61,8th of the swing'' you say it retraced back to %38,2 fib. It just makes more sense to me that way.

Thanks
C80
As long as it works for you. But I'd still try to do it like everybody else does it. 0.0% is considered to be the start of the retracement, while 100.0% is a complete reversal to the original part of the move. I think it will be less confusing later.
  • #95,249
  • May 12, 2011 4:22pm May 12, 2011 4:22pm
Quoting Primi
As long as it works for you. But I'd still try to do it like everybody else does it. 0.0% is considered to be the start of the retracement, while 100.0% is a complete reversal to the original part of the move. I think it will be less confusing later.
All right mate. I will keep that in mind.

Thanks
C80
  • #95,250
  • May 12, 2011 5:11pm May 12, 2011 5:11pm
Hi

I'm trying to figure out what to make of the pinbar formed on EURJPY. I've been following the post for a while and stuggling to understand how to interpret such a strong S/R line. Would be keen to get some analysis on how u guys would interpret. As it failed to close below would we expect it to go up?

Or would you not play it at all due to sideways market (?)
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  • #95,251
  • May 12, 2011 6:02pm May 12, 2011 6:02pm
Quoting smad
Hi

I'm trying to figure out what to make of the pinbar formed on EURJPY. I've been following the post for a while and stuggling to understand how to interpret such a strong S/R line. Would be keen to get some analysis on how u guys would interpret. As it failed to close below would we expect it to go up?

Or would you not play it at all due to sideways market (?)
my thots
edit: that was not actually a BEOB but the size of the bar seems to overide the pin
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  • #95,252
  • May 12, 2011 6:43pm May 12, 2011 6:43pm
I'm thinking buy @ 1.0252 & close a portion @ 1.0300, bring SL to BE & see what happens. What do you think?

http://i236.photobucket.com/albums/f...481/audcad.jpg
  • #95,253
  • May 12, 2011 6:58pm May 12, 2011 6:58pm
Quoting AvanishDemo
hello Mike..js watching
im pretty aware that its a lower swing high..but does the story looks good based on the pattern n CB 1.53?
js need ur thoughts..
Hey Avanish

I wouldn't call that any kind of swing, since essentially it is right in a sideways market. Makes it trickier to trade, as your first trouble area is going to be RIGHT close. The biggest plus for me would only be the down trend since it is a lot of traffic

Best
Mike
  • #95,254
  • May 12, 2011 7:01pm May 12, 2011 7:01pm
Quoting smad
Hi

I'm trying to figure out what to make of the pinbar formed on EURJPY. I've been following the post for a while and stuggling to understand how to interpret such a strong S/R line. Would be keen to get some analysis on how u guys would interpret. As it failed to close below would we expect it to go up?

Or would you not play it at all due to sideways market (?)
Hey Smad

I put some thoughts on a chart. Man I love this 115 area and it's tempting but that bar just doesn't cut it for me. I'll be sidelined myself
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  • #95,255
  • May 13, 2011 12:32am May 13, 2011 12:32am
Quoting rd122481
I'm thinking buy @ 1.0252 & close a portion @ 1.0300, bring SL to BE & see what happens. What do you think?

http://i236.photobucket.com/albums/f...481/audcad.jpg
hey rd, i have the same levels marked on my chart and i think the 1.02 level is a great level. Im not seeing any PA though. whats the reason you want to enter here??
cheers

jon
PATIENCE... DISCIPLINE
  • #95,256
  • May 13, 2011 1:06am May 13, 2011 1:06am
Got in above BUOB with this box (4 high) breakout, TP is 1.2646

EDIT: Moved SL to BE already
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  • #95,257
  • May 13, 2011 1:09am May 13, 2011 1:09am
Quoting Adilius07
Got in above BUOB with this box (4 high) breakout, TP is 1.2646

EDIT: Moved SL to BE already
LOL, that was the quickest BE I ever had
Should have taken my profits immediatly after that first burst. Well ok.
  • #95,258
  • May 13, 2011 1:11am May 13, 2011 1:11am
Quoting Adilius07
LOL, that was the quickest BE I ever had
Should have taken my profits immediatly after that first burst. Well ok.
I think I did something stupid with my trade management again
Killed such a nice breakout trade...
  • #95,259
  • May 13, 2011 1:39am May 13, 2011 1:39am
this is one stock i will watch in germany's trading session today.
infineon (ifx). charts are daily and weekly.
possible breakout > 8.30 eur.
ifx was strong compared to the market in the last days.
fdax and ym currently positive, too.
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meine augen sind die sterne
  • #95,260
  • May 13, 2011 1:45am May 13, 2011 1:45am
and this is the second one. beiersdorf (bei) on daily.
broke through the 45 eur already yesterday.
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meine augen sind die sterne
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