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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

  • #100,081
  • Aug 6, 2011 4:45pm Aug 6, 2011 4:45pm
Thanks Mike! A very helpful post (and accompanying charts too). It's clear to me that I need to get over my "small account syndrome" and gain a greater appreciation for risk when managing my trades.

Regards
JR

Quoting mbqb11
Hey JR

There are definitely a lot of ways to skin the cat here

see if this post might help you

http://www.forexfactory.com/showthre...83#post4777183

Take care
Mike
Be happy, be humble.
  • #100,082
  • Aug 6, 2011 4:53pm Aug 6, 2011 4:53pm
Quoting the_wizard
If I traded the crosses, I would look for shorts where you have marked it and then buy it at the yellow level I have marked on your chart.

Quoting Greenhaze
Euro is rising against Nzd in risk-off environment but if markets will cool off a little then this area might be a good opportunity to re-enter this strong downtrend. Good chance that weekly buob will make it.
I'm not a big fan of the "crazy crosses" either wizard (Tom) but I do like their Weekly levels on a lower TF (daily/4 Hour). I also like the previous bar Highs on that Weekly BUOB (previous Bar Lows on BEOB) . .

GH, that is a great level on the Weekly, it had a nice trendline confluence with it. . .

I do tend to look for Weekly levels on the 4 Hour . .the Hourly TF on crazy crosses sometimes looks like a 1min chart . .lol.
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Indicators show the past. Price Action "Indicates" the future.
  • #100,083
  • Aug 6, 2011 5:15pm Aug 6, 2011 5:15pm
Quoting Greenhaze
Euro is rising against Nzd in risk-off environment but if markets will cool off a little then this area might be a good opportunity to re-enter this strong downtrend. Good chance that weekly buob will make it.
http://www.zerohedge.com/news/it-jus...-euro-bailout-

US downgraded(ok, that's rather irrelevant, they can't be more broke than they currently are, but should shake things some more short term)

I'd say it'll be another interesting week.
  • #100,084
  • Aug 6, 2011 5:52pm Aug 6, 2011 5:52pm
Quoting 4xs
My understanding of trading was crazy and fun to do as I did not have any method to this madness. I was buying and selling at the same time without understanding the consequences; well may be "noob luck" was on my side and made a lot of money not to mention lost even more.
I came to realize this is a business and has to be treated as such to be consistently profitable. Little over a year ago one of friends introduced me to this thread (with some other thread) and ever since I am hooked. Read from page one to the last and trying to comprehend the...
congrats on your success, much continued and thanks for sharing

Mike
  • #100,085
  • Aug 6, 2011 5:58pm Aug 6, 2011 5:58pm
Quoting jarroo
I'm not a big fan of the "crazy crosses" either wizard (Tom) but I do like their Weekly levels on a lower TF (daily/4 Hour). I also like the previous bar Highs on that Weekly BUOB (previous Bar Lows on BEOB) . .

GH, that is a great level on the Weekly, it had a nice trendline confluence with it. . .

I do tend to look for Weekly levels on the 4 Hour . .the Hourly TF on crazy crosses sometimes looks like a 1min chart . .lol.
Clear level on weekly and below it. Those are the best if one want to pinpoint the entry ... Nice to see You Jarroo
  • #100,086
  • Aug 6, 2011 6:07pm Aug 6, 2011 6:07pm
Quoting snowly
http://www.zerohedge.com/news/it-jus...-euro-bailout-

US downgraded(ok, that's rather irrelevant, they can't be more broke than they currently are, but should shake things some more short term)

I'd say it'll be another interesting week.
When You think that everything is settling down then another bomb hits the market. I see there is a new trend of "lets pick the XXX/CHF bottom" on other threads. Good for adrenaline junkies
  • #100,087
  • Aug 6, 2011 6:10pm Aug 6, 2011 6:10pm
Quoting mbqb11
congrats on your success, much continued and thanks for sharing

Mike
Looking forward to live & learn
  • #100,088
  • Aug 6, 2011 6:24pm Aug 6, 2011 6:24pm
Quoting Greenhaze
When You think that everything is settling down then another bomb hits the market. I see there is a new trend of "lets pick the XXX/CHF bottom" on other threads. Good for adrenaline junkies
pff, rumours... chf has no top, it goes straight to nirvana...
  • #100,089
  • Aug 6, 2011 6:54pm Aug 6, 2011 6:54pm
Quoting Greenhaze
Clear level on weekly and below it. Those are the best if one want to pinpoint the entry ... Nice to see You Jarroo

Good to see you too, GH . .

"Those are the best if one want to pinpoint the entry . ." is there any other way to enter a trade?. .


Gotta go . .Fight Night, tonight . .UFC 133 . .


Later,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #100,090
  • Aug 6, 2011 7:21pm Aug 6, 2011 7:21pm
Hope everything is going well Jim.

What is your take on EUR/CAD?

I find it intersting that we have the HCR in this former consolidation area, lining up with the 61.8 fibo and the BRN
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  • #100,091
  • Aug 6, 2011 7:45pm Aug 6, 2011 7:45pm
Quoting bali2002
Thanks PhAnTi,
That's esactly the kind of examples that I'm looking for
well you're welcome
Hero calls followed by margin calls...
  • #100,092
  • Aug 7, 2011 12:01am Aug 7, 2011 12:01am
Quoting Pinbar
Hope everything is going well Jim.

What is your take on EUR/CAD?

I find it intersting that we have the HCR in this former consolidation area, lining up with the 61.8 fibo and the BRN
Absolutely Pinbar . .

This is a great Weekly level . .strong Locational Confluence. This could very well perform as it did in the past (in blue) . .probably even more so due to the additonal confluence.

Recently, Price has Closed below this level so this means that it is currenting acting as Resistance. I would be looking for bearish PA on the Daily or even the 4 Hour.

But Price could easily pop up through and Close Above turning this level into Support, thus bullish PA would be on the watch list.

Either way, this is a great level for a trading opportunity, for sure . ..


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #100,093
  • Aug 7, 2011 4:34am Aug 7, 2011 4:34am
hello,everyone . is this a A chance ?
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A chart helps those who can read it.
  • #100,094
  • Aug 7, 2011 4:39am Aug 7, 2011 4:39am
Quoting geniusztc
hello,everyone . is this a A chance ?
yo,but the question is where to place the trade, i think 8600 should act as support first,

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note that the last 7-8 daily bars made new Lower highs,
Hero calls followed by margin calls...
  • #100,095
  • Aug 7, 2011 5:32am Aug 7, 2011 5:32am
Quoting jarroo
I'm not a big fan of the "crazy crosses" either wizard (Tom) but I do like their Weekly levels on a lower TF (daily/4 Hour). I also like the previous bar Highs on that Weekly BUOB (previous Bar Lows on BEOB) . .

GH, that is a great level on the Weekly, it had a nice trendline confluence with it. . .

I do tend to look for Weekly levels on the 4 Hour . .the Hourly TF on crazy crosses sometimes looks like a 1min chart . .lol.

i was waiting for BUOB to CA Swing Point..i marked..so not an A+ Buob for me.
we are not speaking anything new right Jarroo? (1st chart)
nice to see u dropping by.


Quoting Greenhaze
Euro is rising against Nzd in risk-off environment but if markets will cool off a little then this area might be a good opportunity to re-enter this strong downtrend. Good chance that weekly buob will make it.
TOTALLY agree with u GH..
im also looking for the 1.74 level...nice Blue C-box..tons of support.
if price reach there..it would be good for blind sell TT confirmed with downtrend.(2nd chart)
i will be watching this area..no postions.
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  • #100,096
  • Aug 7, 2011 5:33am Aug 7, 2011 5:33am
Quoting PhAnTi'
yo,but the question is where to place the trade, i think 8600 should act as support first,

Attachment

note that the last 7-8 daily bars made new Lower highs,
yes ,there is new lower high ,but the 365EMA gives support ,and there is the pattern TWO DAYS PIN BAR ? i am not sure ,but i think we can open order now ,and stop loss @8630.
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A chart helps those who can read it.
  • #100,097
  • Aug 7, 2011 5:55am Aug 7, 2011 5:55am
Quoting geniusztc
yes ,there is new lower high ,but the 365EMA gives support ,and there is the pattern TWO DAYS PIN BAR ? i am not sure ,but i think we can open order now ,and stop loss @8630.
disagree.

i would wait to get a better price to increase the r:r ratio, all in all my stop would be below 8600.

....EMAs dont give any support...

supply and demand define prices.
Hero calls followed by margin calls...
  • #100,098
  • Aug 7, 2011 8:11am Aug 7, 2011 8:11am
Quoting PhAnTi'
disagree.

i would wait to get a better price to increase the r:r ratio, all in all my stop would be below 8600.

....EMAs dont give any support...

supply and demand define prices.

Another possibility would be a ret at the 0.86 level + BO??

http://clip2net.com/clip/m90097/thum...-clip-19kb.png
  • #100,099
  • Aug 7, 2011 8:33am Aug 7, 2011 8:33am
Quoting bali2002
Another possibility would be a ret at the 0.86 level + BO??

http://clip2net.com/clip/m90097/thum...-clip-19kb.png
yip, everything is possible

i like to buy low here at the demand level and place a sell stop to the downside, thats how i protect all of my orders
Hero calls followed by margin calls...
  • #100,100
  • Aug 7, 2011 8:42am Aug 7, 2011 8:42am
Quoting bali2002
Another possibility would be a ret at the 0.86 level + BO??

http://clip2net.com/clip/m90097/thum...-clip-19kb.png
agree with u baliu2002... s/r line to be confirm became new resistance...
here my view of this test to the 0.86xx...
monthly tf state PB two month candle.....
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