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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

  • #102,501
  • Oct 1, 2011 5:18am Oct 1, 2011 5:18am
gbp cad weekly
two strong bars. ready for a breakout...
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meine augen sind die sterne
  • #102,502
  • Edited 6:53am Oct 1, 2011 6:38am | Edited 6:53am
Quoting mikeb
http://www.pictureshoster.com/thumbn...u8tp_thumb.gif

The 0,8680-0,8650 acted as a great support for a long long time. Now the price has broken through and closed below. I'm looking for a retrace to that support level, and it lines up beutifully with the 50%-61,8% fib. So the yelowish zone (previous support) should act as resistance now.

Could possibly bounce when it hits the fibo and these PPZ area between these consolidation boxes. Interesting to watch.
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  • #102,503
  • Oct 1, 2011 7:58am Oct 1, 2011 7:58am
UJ looking really heavy at the moment...
strong break of this congestion in either ways can give us direction where will price lead...i will be watching with curiosity.
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  • #102,504
  • Oct 1, 2011 8:19am Oct 1, 2011 8:19am
Quoting AvanishDemo
UJ looking really heavy at the moment...
strong break of this congestion in either ways can give us direction where will price lead...i will be watching with curiosity.
I may end up getting long on this based purely on the extreme support were building. This is a bit abnormal action which makes me think there is a large large order resting here(be it bank or other sov). These can make for some interesting plays.

Best
Mike
  • #102,505
  • Oct 1, 2011 8:20am Oct 1, 2011 8:20am
update on usd/chf, still holding here, really can't say there is much to do but ride the ride. Retrace isn't going to scare me but looking for the next bit of market information
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  • #102,506
  • Oct 1, 2011 10:38am Oct 1, 2011 10:38am
Quoting extremerrage
good day troops fire in the hall ... euro cad daily chart . beob on 61.8 fib and possible head and shoulders pattern ,,,, any advice ???? and have anice week end
Which broker chart it is ? Is it the way, it is showing at the end of day/week ?

It is technically a BEOB.. but NOT something considered for trading.. it is more of doji.. see how it looks in FXDD and Oanda.
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  • #102,507
  • Oct 1, 2011 10:44am Oct 1, 2011 10:44am
three large bearish bars on corn. will see lower lows. break of the support-area is very likely.
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meine augen sind die sterne
  • #102,508
  • Oct 1, 2011 11:01am Oct 1, 2011 11:01am
Quoting aserbfx
just checked some commodities and found this nice chart.
soybean oil future. weekly chart showing a longtime rectangle. with a close above 60 usd i would pull the trigger.
finally a break to the downside. coming into a ppz now. if it falls below, the next support is at 40 usd.
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meine augen sind die sterne
  • #102,509
  • Oct 1, 2011 11:13am Oct 1, 2011 11:13am
Quoting mbqb11
I may end up getting long on this based purely on the extreme support were building. This is a bit abnormal action which makes me think there is a large large order resting here(be it bank or other sov). These can make for some interesting plays.

Best
Mike
Mike, Can you please provide little bit more insight on this setup ? What made you think that there is an extreme support here ?
  • #102,510
  • Oct 1, 2011 2:17pm Oct 1, 2011 2:17pm
damn euro chf got me on that last spike down by 8 pips thought i was out of the way there
  • #102,511
  • Oct 1, 2011 5:22pm Oct 1, 2011 5:22pm
Quoting mbqb11
I must say it

Let's go yankees

ok ok and the rangers for James

Go Tigers!! . . .
Indicators show the past. Price Action "Indicates" the future.
  • #102,512
  • Oct 1, 2011 6:02pm Oct 1, 2011 6:02pm
Quoting jarroo
Go Tigers!! . . .
hahahah JIM!!!

  • #102,513
  • Edited 8:18pm Oct 1, 2011 6:06pm | Edited 8:18pm
Quoting Pinbar
Possibly, a faint 5 watt light bulb is starting to glow concerning Jarroo's methodology.

I think the main point I was missing was the Major SH-SL and minor SH-SL


Let's see if Jarroo can tweak me in the right direction a bit more.

In the meantime, I am hammering it out.
Looking good Pb . .

I'm not concerned with when the Swing points start or when they end. Just as long as they are there.

Major and minor Swing points are important . .its where we find our levels and wait for Price to break through and either close above or below. This tells us if the level is acting as Resistance or Support.

I like the Major swing points better because Price tends to run longer when they are broken. But minor swing points can be very effective as well.
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Indicators show the past. Price Action "Indicates" the future.
  • #102,514
  • Oct 1, 2011 6:09pm Oct 1, 2011 6:09pm
Quoting mbqb11
hahahah JIM!!!

I have Al Kaline's autograph . .
Indicators show the past. Price Action "Indicates" the future.
  • #102,515
  • Oct 1, 2011 6:17pm Oct 1, 2011 6:17pm
Quoting jarroo
I have Al Kaline's autograph . .
I have a signed card of his somewhere too, love al kaline

A few of my babies

cano, jeter, rivera

call me superstitious, i turned down tickets to the game, cause last time I went to game 1 vs the tigers we won that game , then they sweeped us. Refused to go to the first game this time lol
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  • #102,516
  • Oct 1, 2011 6:20pm Oct 1, 2011 6:20pm
Quoting mbqb11
I have a signed card of his somewhere too, love al kaline

A few of my babies

cano, jeter, rivera

call me superstitious, i turned down tickets to the game, cause last time I went to game 1 vs the tigers we won that game , then they sweeped us. Refused to go to the first game this time lol
Damn Mike . .nice.

I'm really just a fair weather fan when it comes to baseball . .Go Lions!!. .
Indicators show the past. Price Action "Indicates" the future.
  • #102,517
  • Oct 1, 2011 6:21pm Oct 1, 2011 6:21pm
Quoting jarroo
Damn Mike . .nice.

I'm really just a fair weather fan when it comes to baseball . .Go Lions!!. .
haha lions are sick this year man

I am a vikings fan. Let's not go there
  • #102,518
  • Oct 1, 2011 6:24pm Oct 1, 2011 6:24pm
Quoting mbqb11
haha lions are sick this year man

I am a vikings fan. Let's not go there
Lions have been a heartbreak for many of us over the years. We are hoping this year will be different . .but we will not get are hopes up too high . .they have burned us too many times . .like Chaile Brown and Lucy's football. . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #102,519
  • Oct 1, 2011 6:28pm Oct 1, 2011 6:28pm
Quoting Pinbar
Perhaps.
Higher time frames levels on the lower time frames . .add multiple confluences with that level and . .BAM! . .nice charts Pinbar . .
Indicators show the past. Price Action "Indicates" the future.
  • #102,520
  • Oct 1, 2011 6:40pm Oct 1, 2011 6:40pm
Quoting jarroo
Higher time frames levels on the lower time frames . .add multiple confluences with that level and . .BAM! . .nice charts Pinbar . .
Many thanks Jim...You are the man.

I shall be bashing it out today, looking for a great area.

Will post one if I find a really Good one.
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