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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

  • #95,321
  • May 16, 2011 1:17pm May 16, 2011 1:17pm
Quoting morph
I know this has a few hours to go but......assuming it ends up something like this:

Nice BUOB off ppz and 150 EMA. Aiming for the 365 EMA. Is my FTA OK?
Thanks
Hey Morph

Yep this would be spot on with your lines

Best
Mike
  • #95,322
  • May 16, 2011 1:31pm May 16, 2011 1:31pm
Quoting mbqb11
Hey Morph

Yep this would be spot on with your lines

Best
Mike

Thanks Mike - time for me to get demoing
Morph
  • #95,323
  • May 16, 2011 2:39pm May 16, 2011 2:39pm
Quoting g_j_hook@yah
hey "fast hand Mike" i liked the 1.6000, what do you think of that level ??
cheers

jon
just realized my dumb question Question!!lol i was thinkin you said 1.6100 not 1.6

(not mental really)

jon
PATIENCE... DISCIPLINE
  • #95,324
  • May 16, 2011 2:54pm May 16, 2011 2:54pm
Quoting atton
Thats why I don't like tls lol

Attachment
hey atton if we dont get price respecting a third touch the tl has no technical significance. if price ignores it simply remove it from the chart. In the case of this pair it is hard to tell if it respected the tl or the ppz,(check the 4h chart) i strongly suspect the ppz. either way it is a failed tl imho, there was no significant reaction or a retest after the break (a good confirmation sign).
hope this helps remove the pain in the chart. lmas
(gonna remember that one!)

jon
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  • #95,325
  • May 16, 2011 2:57pm May 16, 2011 2:57pm
Quoting g_j_hook@yah
is it me whos just wierd or does anyone else find this beautiful..? lol
Always a pleasure to see your interpretation of the J16 way, only this time you prove it's value on the 5min and 1min chart!!! Beautiful trade, beautiful charts
  • #95,326
  • May 16, 2011 3:05pm May 16, 2011 3:05pm
Quoting aserbfx
your fibs are upside down.
is there any reason why you didn't take the high/low of the recent move for the fibs?
just curious...

btw the setup looks good (if it closes bullish). but r:r doesn't; with fta at the high of the box and sl below pinbar's low.
nzd/usd daily's pinbar is deep in the red aka bearish. therefore i will skip it.
meine augen sind die sterne
  • #95,327
  • May 16, 2011 3:10pm May 16, 2011 3:10pm
Quoting 7even
An interesting situation for USD/CHF on Daily

PPZ 0.8930 + TrendLine
yeah im liking this also, we have even got some bearish divergence....maybe some more bullish eu action still left to come?? the 1.4 level on eu/us looks pretty good imho..??

jon
PATIENCE... DISCIPLINE
  • #95,328
  • May 16, 2011 3:12pm May 16, 2011 3:12pm
Quoting aserbfx
nzd/usd daily's pinbar is deep in the red aka bearish. therefore i will skip it.
yeah i agree, it looks a more bearish "story" than a bullish one..??
that was a nice level but its looking a bit done for with the break south today..??

jon
PATIENCE... DISCIPLINE
  • #95,329
  • May 16, 2011 3:16pm May 16, 2011 3:16pm
Hi all !

My first chart contribution.
I thinking about taking a short on H4 U/E on the close of midnight H4 candle.
Support on 1.42.

Thx for your inputs (Chart attached)
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  • #95,330
  • May 16, 2011 3:16pm May 16, 2011 3:16pm
Quoting 5.25
Always a pleasure to see your interpretation of the J16 way, only this time you prove it's value on the 5min and 1min chart!!! Beautiful trade, beautiful charts
thanx man.
certainly not a trade i would recomend though. didnt take it on my live acount.

jon
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PATIENCE... DISCIPLINE
  • #95,331
  • May 16, 2011 3:21pm May 16, 2011 3:21pm
Quoting Walcott
Hi all !

My first chart contribution.
I thinking about taking a short on H4 U/E on the close of midnight H4 candle.
Support on 1.42.

Thx for your inputs (Chart attached)
hi mate thanx for the chart
just put in a level to watch out for if you take it. (1.4150)
are you trading the IB??

jon
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  • #95,332
  • May 16, 2011 3:35pm May 16, 2011 3:35pm
Quoting morph
I know this has a few hours to go but......assuming it ends up something like this:

Nice BUOB off ppz and 150 EMA. Aiming for the 365 EMA. Is my FTA OK?
Thanks
i didn't see your fta as so strong. at least it wouldn't bother me in taking this trade here.
imho the 1.4000 is the first real target.
support to the downside is good.
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meine augen sind die sterne
  • #95,333
  • May 16, 2011 3:55pm May 16, 2011 3:55pm
Quoting g_j_hook@yah
hey atton if we dont...
Hey man. Thanks for the explanation I really don't use trendlines, fibos etc anymore. Just supply & demand (PPZ) with price action. It is simple and deadly accurate as I heard . Please keep posting your charts more often. They are really good.
  • #95,334
  • May 16, 2011 4:11pm May 16, 2011 4:11pm
Am i the only one skipping this BUOB on EURCAD?
reason behind skipping is the BUOB at a good-confluenced location congested around at the region 1.3860..365EMA seems to be casting a gloom as well.

(??Break of TL??)
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  • #95,335
  • May 16, 2011 4:22pm May 16, 2011 4:22pm
Quoting AvanishDemo
Am i the only one skipping this BUOB on EURCAD?
reason behind skipping is the BUOB at a good-confluenced location congested around at the region 1.3860..365EMA seems to be casting a gloom as well.

(??Break of TL??)
Trendlines... as you wish sir

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  • #95,336
  • May 16, 2011 4:28pm May 16, 2011 4:28pm
Not to be missed touch trade imo. Still in with full position. Mass of confluence behind that move. Some risk aversion event would add fuel to that move for sure.
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  • #95,337
  • May 16, 2011 6:39pm May 16, 2011 6:39pm
Quoting atton
Trendlines... as you wish sir

Attachment
ehhhh, trendline number 2 is a bit of a stretch there

I think the first one at least makes visual sense so I have to go with Avanish there is definite upside trouble.

My response to a trade like this is not to miss that there is problems above and manage it accordingly. I hate to babysit a trade like this that tight. Easier to pass for me, but that area is definite trouble back into the BRN

Best
Mike
  • #95,338
  • May 16, 2011 6:51pm May 16, 2011 6:51pm
Quoting Greenhaze
Not to be missed touch trade imo. Still in with full position. Mass of confluence behind that move. Some risk aversion event would add fuel to that move for sure.
nice

jon
PATIENCE... DISCIPLINE
  • #95,339
  • May 16, 2011 7:15pm May 16, 2011 7:15pm
Quoting mbqb11
ehhhh, trendline ...
Haha, I knew it that you will response.


Well. Both of them acted as a support and resistance. Even the streched one It just that people draw them differently and think they are right.

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I think we should look for clearer trendlines. Like..


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  • #95,340
  • May 16, 2011 7:23pm May 16, 2011 7:23pm
haha, people dont draw them differently...they draw them incorrectly.
the few who make money from them draw them correctly. even if they use them in different ways. at least that is what i see....


jon
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