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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

  • #99,281
  • Jul 26, 2011 7:40am Jul 26, 2011 7:40am
Quoting Adilius07
Yes this one is awesome example!!! I look for those too, but something doesn't let me pull the trigger. So I stick to those at swings for the moment.
They are more uncomfortable at first, but I am still a firm believer in learning them the traditional J16 way , but eventually you learn that the story can unfold anywhere on a chart and we just need to be patient for the good ones. Easier said then done

Best
Mike
  • #99,282
  • Jul 26, 2011 8:31am Jul 26, 2011 8:31am
Hi traders

Tbh I think these trades are the sweetest out here and very J16 (Get well soon!)

Entry:1.0828
Exit: 1.0943
SL: 30 pips

- Break of old resistance with Pin confirming new support
- Pin with bullish close off RN
- Minor FTA May 10th high
- Good space to TP 1 AT April 28th high
- Trading with HTF trend

With this one I chose not to get my SL up to break even once price was up 50 pips and I was lucky because of the SL hunt at the London Open.

Happy trading

Anthony
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  • #99,283
  • Jul 26, 2011 9:09am Jul 26, 2011 9:09am
Quoting antgal23
Hi traders

Tbh I think these trades are the sweetest out here and very J16 (Get well soon!)

Entry:1.0828
Exit: 1.0943
SL: 30 pips

- Break of old resistance with Pin confirming new support
- Pin with bullish close off RN
- Minor FTA May 10th high
- Good space to TP 1 AT April 28th high
- Trading with HTF trend

With this one I chose not to get my SL up to break even once price was up 50 pips and I was lucky because of the SL hunt at the London Open.

Happy trading

Anthony
nice one, i was in from 1.0815
  • #99,284
  • Jul 26, 2011 10:01am Jul 26, 2011 10:01am
Would this be a good example of Divergence?
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  • #99,285
  • Jul 26, 2011 10:04am Jul 26, 2011 10:04am
Quoting Mebius
Would this be a good example of Divergence?
hey mebius

That is not divergence so I fixed it and showed an example on your chart

Best
Mike
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  • #99,286
  • Jul 26, 2011 10:07am Jul 26, 2011 10:07am
Quoting Mebius
Would this be a good example of Divergence?

I would say not, because you haven't drawn your line from the bottom of the lowest bar. If you did, the MACD would follow price. If you look at the very highest peak on the chart however, there is divergence between that high and the high before it (price moves up, MACD moves down).
When the going gets weird, the weird turn pro.
  • #99,287
  • Jul 26, 2011 10:07am Jul 26, 2011 10:07am
Quoting Mebius
Would this be a good example of Divergence?
as said by mike - use lows(or highs) not closes.
  • #99,288
  • Jul 26, 2011 10:08am Jul 26, 2011 10:08am
Sorry Mike! Bit slow off the mark there. Yours is a much better illustration anyways..
When the going gets weird, the weird turn pro.
  • #99,289
  • Jul 26, 2011 10:19am Jul 26, 2011 10:19am
Quoting deankenny21
nice one, i was in from 1.0815
thanks DeanKenny!

you took the 1HR Pin and bought at almost the cheapest price going

well done!
  • #99,290
  • Jul 26, 2011 10:21am Jul 26, 2011 10:21am
Quoting mbqb11
hey mebius

That is not divergence so I fixed it and showed an example on your chart

Best
Mike
thanks Mike!
  • #99,291
  • Jul 26, 2011 10:50am Jul 26, 2011 10:50am
Quoting antgal23
thanks DeanKenny!

you took the 1HR Pin and bought at almost the cheapest price going

well done!
no, my entry was when it brokeout on the daily, and come back a bit and failed to go back into the box so took it.
  • #99,292
  • Jul 26, 2011 11:42am Jul 26, 2011 11:42am
Quoting Mebius
Would this be a good example of Divergence?
check this out to learn more
  • #99,293
  • Jul 26, 2011 12:41pm Jul 26, 2011 12:41pm
hi guys,

The trade i have taken today , eurgbp double bar with the trend .
Not a good set up i would say i think wont even qualify for trading with some seniors rules but some facts really encouraged me to take this trade .

Close above the consolidation ( i think this wud help to clear FTA )

With the trend set up.


comments appreciated
regards,
kunal
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  • #99,294
  • Jul 26, 2011 12:55pm Jul 26, 2011 12:55pm
Quoting fx trader-
hi guys,

The trade i have taken today , eurgbp double bar with the trend .
Not a good set up i would say i think wont even qualify for trading with some seniors rules but some facts really encouraged me to take this trade .

Close above the consolidation ( i think this wud help to clear FTA )

With the trend set up.


comments appreciated
regards,
kunal

Hey there trader,

There is a lot going on above and at that trade. This would be something that I would be very agressive with my money management. It is not what I would consider to be a very high probability trade so do not be surprised if it does not go your way. That having been said it seems as though you are aware of potential trouble areas going on in the chart.

Ryan
  • #99,295
  • Jul 26, 2011 12:59pm Jul 26, 2011 12:59pm
Quoting gungriffin
Hey there trader,

There is a lot going on above and at that trade. This would be something that I would be very agressive with my money management. It is not what I would consider to be a very high probability trade so do not be surprised if it does not go your way. That having been said it seems as though you are aware of potential trouble areas going on in the chart.

Ryan
Agreed RYAN , i have used proper MM acc to probability of the trade

regards,
kunal
  • #99,296
  • Edited 1:38pm Jul 26, 2011 1:26pm | Edited 1:38pm
Quoting 5.25
Silver has got my attention.

Daily close above 40.00, PB on 4h. I wonder if the BRN and recent trendline will hold?

Quoting the_wizard
That can be considered SFP on the D1, 5.25 so I would say caution is needed for longs.

Tom
Quoting jarroo
I thought this Weekly HCR was going to hit first and it still may get hit.. all in all, a good stop loss placement (or entry) for the Daily . . .
Hey 5.25 looks like the 40.00 (40.05 to be exact) is now a Support level from its previous Resisatance level . .Why? . . because PBT&CA. . .

I believe the SFP worked great, as expected . .all be it breifly to its newly formed Support level. . .Thanks Tom.


More closes above those Highs would be nice . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #99,297
  • Jul 26, 2011 1:30pm Jul 26, 2011 1:30pm
Quoting jarroo
Hey 5.25 looks like the 40 is now a Support level from its previous Resisatnce . .Why? . . because PBT&CA. . .

I believe the SFP worked great as expected . .all be it breifly to its newly formed Support level. . .Thanks Tom


More closes above those Highs would be nice . .

Jim
This HCR level at a minor Swing High (back in April) is in play currently .. a good target and/or to see PBT&CA.
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Indicators show the past. Price Action "Indicates" the future.
  • #99,298
  • Edited 2:02pm Jul 26, 2011 1:50pm | Edited 2:02pm
Quoting jarroo
Hey 5.25 looks like the 40.00 (40.05 to be exact) is now a Support level from its previous Resisatance level . .Why? . . because PBT&CA. . .

I believe the SFP worked great, as expected . .all be it breifly to its newly formed Support level. . .Thanks Tom.


More closes above those Highs would be nice . .

Jim

Question? . .answer on chart
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Indicators show the past. Price Action "Indicates" the future.
  • #99,299
  • Edited 2:07pm Jul 26, 2011 1:53pm | Edited 2:07pm
Quoting fx trader-
hi guys,

The trade i have taken today , eurgbp double bar with the trend .
Not a good set up i would say i think wont even qualify for trading with some seniors rules but some facts really encouraged me to take this trade .

Close above the consolidation ( i think this wud help to clear FTA )

With the trend set up.


comments appreciated
regards,
kunal
Hey Kunal...
its a late NY session bar..
plus if u take a look at chart in 'totality'...the setup u posted is "still in its traffic"..plus that wld be buying against 0.8850 (Daily PPZ)..
u can take a "continuation" trade with break of patterns..as Mike takes it n if it meets A+ criteria(like space,CA/CB PPZ,visually appealing setups)..


js my 2pips
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  • #99,300
  • Jul 26, 2011 2:05pm Jul 26, 2011 2:05pm
Hey guys,
A possible short trade on CHFJPY Daily. Nice bearish pin bar, okish space (would have liked more), If it closes something like this, could be a good short. FTA is around 50 pips away so can move stop to BE there & wait for reaching next trouble area. What you guys think?

Thanks,
Vinay
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