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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

  • #97,461
  • Jun 27, 2011 11:49pm Jun 27, 2011 11:49pm
Quoting AvanishDemo
1st target hit
PA rules..
likes the way Jarroo says that..

PA Rules . . .

And so does knowing your target(s) . Very nice AD . . off a nice higher time frame Resistance level.

Once the target gets hit . . some action is required . .

1. . . move to break even and see if she can break and close below our target.
2. . .take partial profits and move to break even.
3. . . . or take full profit at the target.

As James16 would say . .the action you do probably depends on your account size. Smaller accounts tend to go with #1 and #2. Bigger accounts tend go with #3. . .and then to the bank. . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #97,462
  • Edited Jun 28, 2011 1:17am Jun 27, 2011 11:55pm | Edited Jun 28, 2011 1:17am
Quoting jarroo
PA Rules . . .

And so does knowing your target(s) . Very nice AD . . off a nice higher time frame Resistance level.

Once the target gets hit . . some action is required . .

1. . . move to break even and see if she can break and close below our target.
2. . .take partial profits and move to break even.
3. . . . or take full profit at the target.

As James16 would say . .the action you do probably depends on your account size. Smaller accounts tend to go with #1 and #2. Bigger accounts tend go with #3. . .and then to the bank....
yep..it hit my BE..so no loss..
this pair has a huge spread..
  • #97,463
  • Jun 27, 2011 11:58pm Jun 27, 2011 11:58pm
Quoting aserbfx
hi gang,

i am back from a stunning trip to the indian himalaya.
had a great time. memories for a lifetime. thanks to the hospitable indian people and their georgeous landscape and culture.

i attached some pics. i am not good at this photograph-stuff, but you maybe get a glimpse...

hope you all made some green pips.

aserbfx
Wow . . . .great pics abserb . . .
Indicators show the past. Price Action "Indicates" the future.
  • #97,464
  • Jun 28, 2011 12:19am Jun 28, 2011 12:19am
this is just what i see i am not taking any trades but have noted this and im watching closely. any thoughts from the seniors would be greatly appreciated as always....

on the daily chart that ive posted i see lower highs and lower lows forming but with divergence onthe macd which is forming higher lows. i also noted a small pinbar at a swing low....

questiong: is the bar with the arrow over it a valid j16 pb?

could this be considered for a long trade if so would it get an A grade?

note: the trade is counter trend and would be trading into a busy area.....
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  • #97,465
  • Edited 12:33am Jun 28, 2011 12:20am | Edited 12:33am
Quoting Pinbar
This would be a nice area for a pullback.

I'm watcing it too Pinbar . .

Looks like the 1.6 could not hold as Support . .looks like it has good potential to turn into Resistance. some bearish PA on the daily or even the 4 hour would be nice.
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Indicators show the past. Price Action "Indicates" the future.
  • #97,466
  • Edited 12:49am Jun 28, 2011 12:27am | Edited 12:49am
Quoting almann400
this is just what i see i am not taking any trades but have noted this and im watching closely. any thoughts from the seniors would be greatly appreciated as always....

on the daily chart that ive posted i see lower highs and lower lows forming but with divergence onthe macd which is forming higher lows. i also noted a small pinbar at a swing low....

questiong: is the bar with the arrow over it a valid j16 pb?

could this be considered for a long trade if so would it get an A grade?
Looks valid almann . . but I would like the nose a bit longer which would make the PB's size larger to compensate the recent stong move down. Also it didn't close above the 1.6000 BRN, PPZ level. A PB with the close above this level would confirm that the PPZ level is acting as Support and a Big Bullish PB with a close above this level would be perfect.

Since we have some Daily closes below the PPZ level . .it looks like the 1.6000 PPZ level is acting as Resistance.
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Indicators show the past. Price Action "Indicates" the future.
  • #97,467
  • Jun 28, 2011 12:46am Jun 28, 2011 12:46am
Quoting Pinbar
This would be a nice area for a pullback.

Quoting jarroo
I'm watcing it too Pinbar . .

Looks like the 1.6 could not hold as Support . .looks like it has good potential to turn into Resistance. some bearish PA on the daily or even the 4 hour would be nice.

Yes, that's a Big Monthly level, Pinbar . ..I wonder if we'll get Monthly Bar to Close Below.


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Indicators show the past. Price Action "Indicates" the future.
  • #97,468
  • Jun 28, 2011 1:30am Jun 28, 2011 1:30am
IBFX shows a nice sized BUOB on D1 coming from EMA150 with closing price above 1.4300.

Anyone watching this?

Cheers
Andreas
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  • #97,469
  • Jun 28, 2011 1:45am Jun 28, 2011 1:45am
EURTRY long opportunity. 2.3300 area is the key here.
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  • #97,470
  • Jun 28, 2011 2:14am Jun 28, 2011 2:14am
Quoting Pinbar
This would be a nice area for a pullback.
Yes, we shall see (1.587).

I shorted this pair yesterday (1h) because I saw a nice DBHLC late in the day. I tested this with small risk, waited for the retrace (23.00 GMT) and held over night.

I proved one of J16's theories yesterday.

I am also doing some short term trades on 5m. Once in the trend, I wait for the retrace (approx 50%), look for price action and execute my short for +15.

KR
  • #97,471
  • Edited 5:14am Jun 28, 2011 4:56am | Edited 5:14am
Could anyone help to analyze this? demo on GBPJPY, a BUOB at swing low, close above 129, I hope that the 129 could be some pull back resistance, however looks like failed, price continuously drop down.
Is this type of "Trade into traffic"?

MAYBE it's because I am fighting a Downtrend....
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----------------------------- Discipline makes the difference.
  • #97,472
  • Jun 28, 2011 5:25am Jun 28, 2011 5:25am
I see a "trafficjam" exactly where you opened it....and i think you are right it is trafficy...but I am learning too...and making mistake with FTAs (my weak point)
Hard to decide which will stop the price and which wont, so i try to find cherrypicking....
M
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  • #97,473
  • Jun 28, 2011 7:38am Jun 28, 2011 7:38am
Quoting mbqb11
Hey Pip

I put some notes on a chart hope it helps

Best
Mike

Where Mike has his line is where I WAS watching for shorting opportunities but just realized that my brokers will no longer be able to offer margin on Gold/Silver soon so it appears that Barney Frank and Chris Dodd have lead the way to me, an American, having one less ability to earn a little extra money.

Sorry, had to vent somewhere.
  • #97,474
  • Jun 28, 2011 7:50am Jun 28, 2011 7:50am
Quoting Panthera
I see a "trafficjam" exactly where you opened it....and i think you are right it is trafficy...but I am learning too...and making mistake with FTAs (my weak point)
Hard to decide which will stop the price and which wont, so i try to find cherrypicking....
M
Thanks Panthera, looks like a lot of bar lows protrusion out there, this pair does not look so "clean"
----------------------------- Discipline makes the difference.
  • #97,475
  • Jun 28, 2011 8:47am Jun 28, 2011 8:47am
Quoting Panthera
I see a "trafficjam" exactly where you opened it....and i think you are right it is trafficy...but I am learning too...and making mistake with FTAs (my weak point)
Hard to decide which will stop the price and which wont, so i try to find cherrypicking....
M
Yep certainly quite choppy here.

It is a BUOB at a swing low but were trading back up into the 130 area which has recently broken down with a bigger BEOB as well. So these you have to be smart with and to me that is not getting fancy if you choose to play them. Stops get moved up quick. I personally will not trade back into a BRN that is so close in this case

Best
Mike
  • #97,476
  • Jun 28, 2011 9:14am Jun 28, 2011 9:14am
BUOB on E/U H4 :

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Not at a swing low but crossing a major PPZ. Long on break of BUOB high (because of multiple high just before).
I read Jim said BUOB/BEOB on huge support could be one of the best setups.

Any comments about this one ?

thx
  • #97,477
  • Jun 28, 2011 9:15am Jun 28, 2011 9:15am
Quoting Walcott
BUOB on E/U H4 :

Attachment

Any comments about this one ?

thx
Hey Walcott

Technically on your chart that isn't a buob. It must have a high higher then the previous bars high.

With that said some brokers do have a BUOB

This is a BUOB up at a swing high point, remember to look for these at swing low points initially. They are easier to grasp before trying to play them as continuation bars on the lower timeframes.

Let me know if that makes sense
Mike
  • #97,478
  • Jun 28, 2011 9:22am Jun 28, 2011 9:22am
Quoting crusen
Where Mike has his line is where I WAS watching for shorting opportunities but just realized that my brokers will no longer be able to offer margin on Gold/Silver soon so it appears that Barney Frank and Chris Dodd have lead the way to me, an American, having one less ability to earn a little extra money.

Sorry, had to vent somewhere.
It is frustrating, I agree.
  • #97,479
  • Jun 28, 2011 9:22am Jun 28, 2011 9:22am
Quoting mbqb11
Yep certainly quite choppy here.

It is a BUOB at a swing low but were trading back up into the 130 area which has recently broken down with a bigger BEOB as well. So these you have to be smart with and to me that is not getting fancy if you choose to play them. Stops get moved up quick. I personally will not trade back into a BRN that is so close in this case

Best
Mike
Thank you Mike, your comment always mean something to me.
----------------------------- Discipline makes the difference.
  • #97,480
  • Jun 28, 2011 9:51am Jun 28, 2011 9:51am
valid setup ....or just lucky, EUR/USD
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