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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

  • #95,801
  • May 30, 2011 8:15pm May 30, 2011 8:15pm
i see a huge bearish candle on eurchf, on Friday (IBFX demo, 20.00 time).
i'd like to ask those with IBFX demo/live, if u have the same OHLC (particularly the low)?
O 1.2179
H 1.2185
L 1.2085
C 1.2126

Oanda live Friday low was 1.2101
thank you!

Quoting biDc
EUR/NZD buy stop in place. I like the divergence and the inner bar/BUOB formed. Lots of space
hello biDc,
i dont see a BUOB there (possibly a DBLHC).
regardless the last bar is very small.

can u specify the divergence that u see? (is it the extreme left & extreme right low of MACD?)

careful of possible traffic above, 1.7550 - 1.77 (i think 1.7550 is near/at your entry). also NZD is stronger than eur (i.e., current trend is down)
any upmove from here might be short-lived, so careful/be alert.
  • #95,802
  • May 30, 2011 9:27pm May 30, 2011 9:27pm
Quoting supremeChaos
hello biDc,
i dont see a BUOB there (possibly a DBLHC).
regardless the last bar is very small.

can u specify the divergence that u see? (is it the extreme left & extreme right low of MACD?)

careful of possible traffic above, 1.7550 - 1.77 (i think 1.7550 is near/at your entry). also NZD is stronger than eur (i.e., current trend is down)
any upmove from here might be short-lived, so careful/be alert.
hey supreme,

i messed up on the BUOB. I meant to say DBLHC and you are right the bar is pretty small. the divergence im speaking of starts at the previous swing low which i drew the bottom of my fibonacci and the current low (if another swing low forms here). 1.77 is actually my FTA and I have my buy stop at 1.7555. It may not even hit but if it does I am anticipating at least a quick upmove to the 1.77 region.

thanks
  • #95,803
  • May 30, 2011 10:00pm May 30, 2011 10:00pm
Quoting biDc
...the divergence im speaking of starts at the previous swing low which i drew the bottom of my fibonacci and the current low (if another swing low forms here)...
i see, that would make it a hidden bullish divergence, since price is making a higher low while MACD has a lower low (based on the points u plotted it from).
hidden divergence hints on a potential continuation, unlike regular divergence which implies a potential reversal.

if price goes past 1.77, then that would be great.
  • #95,804
  • May 30, 2011 10:22pm May 30, 2011 10:22pm
What do you mean by hidden divergence? I haven't heard of that term before. Is it just a bearish/bullish divergence that's not confirmed?
  • #95,805
  • May 30, 2011 10:29pm May 30, 2011 10:29pm
Quoting biDc
What do you mean by hidden divergence?...
hidden div is the opposite of regular div.

what's typically posted here are trades with regular divergence:
for example, double top with bearish div... or double bottom with bullish regular div.
u can see the difference from your above chart.

u can learn more here
  • #95,806
  • May 31, 2011 3:07am May 31, 2011 3:07am
YEN is tanking hard
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  • #95,807
  • May 31, 2011 3:48am May 31, 2011 3:48am
Hi guys

Just a kwik question about public holidays. With a public holiday yesterday i the US and UK does it normally take the markets a day or so to 'settle down' again in to their regular rhythms? Just wondered if anyone has noticed a pattern here?

Kal
  • #95,808
  • May 31, 2011 8:05am May 31, 2011 8:05am
fcfs on daily.
friday was very strong with a close near dayhigh.
current high was 40.13 usd. will go long above.
will be supported bis positive ym.
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meine augen sind die sterne
  • #95,809
  • May 31, 2011 8:20am May 31, 2011 8:20am
Quoting aserbfx
fcfs on daily.
friday was very strong with a close near dayhigh.
current high was 40.13 usd. will go long above.
will be supported bis positive ym.
Classic. Back in business!

Good to see you posting again.
  • #95,810
  • May 31, 2011 8:48am May 31, 2011 8:48am
Quoting 5.25
Classic. Back in business!

Good to see you posting again.
thanks
anyway, no chance in going long in fcfs. opened with gap-up at now floating at 41 usd. will skip it.
meine augen sind die sterne
  • #95,811
  • May 31, 2011 9:46am May 31, 2011 9:46am
Quoting Kalbar
Hi guys

Just a kwik question about public holidays. With a public holiday yesterday i the US and UK does it normally take the markets a day or so to 'settle down' again in to their regular rhythms? Just wondered if anyone has noticed a pattern here?

Kal
Hey Kal

Often times the next day can be a pretty strong day since there was an extra day of waiting. I guess it could be a 'let's get back in the game day'. I have seen both though slow next days and strong next days like today too.

Best
Mike
  • #95,812
  • May 31, 2011 10:06am May 31, 2011 10:06am
Quoting aserbfx
thanks
anyway, no chance in going long in fcfs. opened with gap-up at now floating at 41 usd. will skip it.
welcome back bud
  • #95,813
  • May 31, 2011 10:59am May 31, 2011 10:59am
I am thankful for the invaluable knowledge shared in this forum. I am still in the learning process but certainly will trade one of these days. There's so many things to learn. But we need to undergo this process to be confident in our moves. Thanks again and will inform you guys of my progress.
  • #95,814
  • May 31, 2011 11:29am May 31, 2011 11:29am
Quoting Aemilliann
I am thankful for the invaluable knowledge shared in this forum. I am still in the learning process but certainly will trade one of these days. There's so many things to learn. But we need to undergo this process to be confident in our moves. Thanks again and will inform you guys of my progress.
Welcome Aemilliann
  • #95,815
  • May 31, 2011 12:26pm May 31, 2011 12:26pm
something ill be watching...GB/US, D1 BEOB engulfing an IB with fib confluence.
the weakish close bothers me though. i would have liked a strong close with it running into trouble quite quickly....still quite nice imho

jon
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PATIENCE... DISCIPLINE
  • #95,816
  • May 31, 2011 12:30pm May 31, 2011 12:30pm
Quoting Kalbar
Hi guys

Just a kwik question about public holidays. With a public holiday yesterday i the US and UK does it normally take the markets a day or so to 'settle down' again in to their regular rhythms? Just wondered if anyone has noticed a pattern here?

Kal
hey Kalbar, just to add to what Mike said, there is an average range a currency pair will move each day or week etc so if we get a quiet day or a holiday we often see price make up for it and fulfill its average range. of course not always and we cant tell wether it will be the following day or the day after etc. but something to bare in mind if we get a good trigger bar on a quiet day...

jon
PATIENCE... DISCIPLINE
  • #95,817
  • May 31, 2011 1:24pm May 31, 2011 1:24pm
Quoting g_j_hook@yah
something ill be watching...GB/US, D1 BEOB engulfing an IB with fib confluence.
the weakish close bothers me though. i would have liked a strong close with it running into trouble quite quickly....still quite nice imho

jon
doesn't look that good except bar closes below 1.64.
  • #95,818
  • May 31, 2011 1:46pm May 31, 2011 1:46pm
Quoting aserbfx
thanks
anyway, no chance in going long in fcfs. opened with gap-up at now floating at 41 usd. will skip it.
like a fist in the stomach...
fcfs would be a nice +5% so far in a couple of hours (from the breakout-area 40 usd to now 42 usd).
i already thought about checking my charts in the last trading hour and enter before close. that would mean really riskier trades because of gaps....
will think about this...
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meine augen sind die sterne
  • #95,819
  • May 31, 2011 1:51pm May 31, 2011 1:51pm
Quoting aserbfx
like a fist in the stomach...
fcfs would be a nice +5% so far in a couple of hours (from the breakout-area 40 usd to now 42 usd).
i already thought about checking my charts in the last trading hour and enter before close. that would mean really riskier trades because of gaps....
will think about this...
Do you use freestockchart to scan for stocks?
  • #95,820
  • May 31, 2011 1:53pm May 31, 2011 1:53pm
Quoting biDc
Do you use freestockchart to scan for stocks?
yes, but also gci (broker) with mt4, and finviz and and and...
meine augen sind die sterne
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