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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

  • #98,901
  • Edited 1:58pm Jul 19, 2011 1:47pm | Edited 1:58pm
Quoting AvanishDemo
something similar we have on AUDCHF..
it broke two previous swings..
tight SL would be great....
CB 0.87 n LCS as well...


Quoting jarroo
Yes . .Absolutely, AD .. .
Hey AD . .another thing cool about these levels is that if they don't act as Resistance . . (from previous Support because PBT&CB) they will return to their previous status of Support at the same level(s) once they Break Through and Close Above it.

When PBT&CB intially we would be looking for the .8717 and .8736 to act as Resistance . .Taking a Touch Trade at these levels can be risky but you would just need a tight S/L. Better confirmation would be bearish PA at these potential Resistance level(s). (much like my recent Euro trade)

Looking at the 4 Hour TF, we can see how these levels return to Support at the same level . .notice no closes below on the 4 Hour. . .Support.

Why the .8736 and not the .8717? . .the .8736 was a stronger Swing Low on the Daily.
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Indicators show the past. Price Action "Indicates" the future.
  • #98,902
  • Jul 19, 2011 1:48pm Jul 19, 2011 1:48pm
Quoting decentchap
-------------------------------------------------------
Stop set to b/e. Enjoying the free ride now..
take profit target hit - trade closed.
Trading is a test match not a Twenty20.
  • #98,903
  • Jul 19, 2011 2:01pm Jul 19, 2011 2:01pm
Quoting ghous
lol

yeah haven't been posting much recently,

hope to be a bit more active now.

g.

Good to see you, G . . .!!! . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,904
  • Jul 19, 2011 2:34pm Jul 19, 2011 2:34pm
Quoting aserbfx
h4 pinbar on silver. plus 61.80 fib extension. only interested if it falls below 40 usd. and then with very tight sl cuz of the major (aka monster) uptrend.
time to take profit here; although a beob is forming. slv is approaching a ppz.
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meine augen sind die sterne
  • #98,905
  • Jul 19, 2011 2:42pm Jul 19, 2011 2:42pm
Quoting aserbfx
time to take profit here; although a beob is forming. slv is approaching a ppz.

Or maybe add to your position . . looks like a bit of a retrace before we go up higher.
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Indicators show the past. Price Action "Indicates" the future.
  • #98,906
  • Jul 19, 2011 2:57pm Jul 19, 2011 2:57pm
Hi guys,

What do you think about this setup at that moment :
1°) shape : decent BEOB (even if the close appears a bit too weak)
2°) Location = off 1600 + clear swing high
3°) space : obvious target to 1570,00
Additional important factor : divergence

Thanks for your feedback.

Dede
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  • #98,907
  • Jul 19, 2011 3:06pm Jul 19, 2011 3:06pm
Quoting jarroo
Hey AD . .another thing cool about these levels is that if they don't act as Resistance . . (from previous Support because PBT&CB) they will return to their previous status of Support at the same level(s) once they Break Through and Close Above it.

When PBT&CB intially we would be looking for the .8717 and .8736 to act as Resistance . .Taking a Touch Trade at these levels can be risky but you would just need a tight S/L. Better confirmation would be bearish PA at these potential Resistance level(s). (much like my recent Euro trade)

Looking...
yes jarroo i did not enter this trade..thats bcos monday's opening was way down wch i could not find it comfortable..so i skipped it..sch idiosyncratic thoughts kept me out of this ..proper opening of monday's bar in sync with closing of friday's bar wld hv been better
Thanks for reasoning more abt this setup
  • #98,908
  • Jul 19, 2011 3:18pm Jul 19, 2011 3:18pm
Quoting dede777
Hi guys,

What do you think about this setup at that moment :
1°) shape : decent BEOB (even if the close appears a bit too weak)
2°) Location = off 1600 + clear swing high
3°) space : obvious target to 1570,00
Additional important factor : divergence

Thanks for your feedback.

Dede
I think its got a good chance to hit its immediade targets ..
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #98,909
  • Jul 19, 2011 3:22pm Jul 19, 2011 3:22pm
Quoting AvanishDemo
yes jarroo i did not enter this trade..thats bcos monday's opening was way down wch i could not find it comfortable..so i skipped it..sch idiosyncratic thoughts kept me out of this ..proper opening of monday's bar in sync with closing of friday's bar wld hv been better
Thanks for reasoning more abt this setup

Damn Gaps . . .They always mess up my Closes . .

I do like the Friday's Close better . .a more complete week and day of trading.
Indicators show the past. Price Action "Indicates" the future.
  • #98,910
  • Jul 19, 2011 3:38pm Jul 19, 2011 3:38pm
Quoting jarroo
I think its got a good chance to hit its immediade targets ..
hehe Just posted this in the PF before coming here

J man is cool

The crappy part is the great new American rules on gold/silver spot
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  • #98,911
  • Jul 19, 2011 3:38pm Jul 19, 2011 3:38pm
Quoting jarroo
I think its got a good chance to hit its immediade targets ..
Thanks Jarroo
  • #98,912
  • Jul 19, 2011 3:43pm Jul 19, 2011 3:43pm
Quoting mbqb11
hehe Just posted this in the PF before coming here

J man is cool

The crappy part is the great new American rules on gold/silver spot
We are always on the same page, Mike . .maybe at times on different paragraphs. .but always on the same page . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,913
  • Jul 19, 2011 3:46pm Jul 19, 2011 3:46pm
Quoting dede777
Thanks Jarroo

Sure thing, dede. . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,914
  • Jul 19, 2011 3:51pm Jul 19, 2011 3:51pm
Quoting mbqb11
hehe Just posted this in the PF before coming here

J man is cool

The crappy part is the great new American rules on gold/silver spot
Damn! So much for hindsight.

Thanks for sharing a taster of the PF

T
  • #98,915
  • Jul 19, 2011 3:54pm Jul 19, 2011 3:54pm
Quoting jarroo
Damn Gaps . . .They always mess up my Closes . .

I do like the Friday's Close better . .a more complete week and day of trading.
they're free money... how can anyone hate gaps? did my weekly % just on sunday evening gaps(and with luck I'll even take 2 days off)
  • #98,916
  • Jul 19, 2011 3:56pm Jul 19, 2011 3:56pm
Quoting mbqb11
hehe Just posted this in the PF before coming here

J man is cool

The crappy part is the great new American rules on gold/silver spot
Ahhhh!!! So foolish about the new rules reguarding leverage on gold/silver. Worst part is that they seem to be trending nicely. I forget sometimes that we have people from other parts of the world who don't have governments that are trying to save the foolish...
  • #98,917
  • Jul 19, 2011 4:08pm Jul 19, 2011 4:08pm
nothing on dailies for me from 30 pairs - nada - I am flat for the day.
Trading is a test match not a Twenty20.
  • #98,918
  • Jul 19, 2011 4:10pm Jul 19, 2011 4:10pm
Quoting mbqb11
hehe Just posted this in the PF before coming here

J man is cool

The crappy part is the great new American rules on gold/silver spot
nice chart mike! I'm also using the action on gold as a minor gauge on possible movement of silver.
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  • #98,919
  • Jul 19, 2011 4:10pm Jul 19, 2011 4:10pm
Quoting mbqb11
hehe Just posted this in the PF before coming here

J man is cool

The crappy part is the great new American rules on gold/silver spot

This is a golden opperchunity..lol
Trading is a test match not a Twenty20.
  • #98,920
  • Jul 19, 2011 4:12pm Jul 19, 2011 4:12pm
Quoting decentchap
nothing on dailies for me from 30 pairs - nada - I am flat for the day.
I am right there with you friendo... The only one that really presents any decent PA is EURCAD, but I am not really seeing enough of a story to warrant getting in on this one at a swing low. No big, just looking forward to tomorrow
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