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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

  • #102,861
  • Oct 10, 2011 6:26am Oct 10, 2011 6:26am
Having a look at the AUDUSD Daily chart. Looking at the up move the last few days. I'd say for now that price is still in the down trend until it breaks the previous swing high. But some potential things I'm looking at with a view to a short entry.

Details on the chart...

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  • #102,862
  • Oct 10, 2011 6:30am Oct 10, 2011 6:30am
Hi P ,
also claimed a small present from eurusd, been looking at it all weekend and waiting for market to open, didnt trade the EJ as I felt that I was putting tooo much on one idea. went in at brake and close above (4H) of the high of the H4 bar of midday friday, had to stay up a it late to enter,, I'm in South Africa,.
closed 3rd at 10 pips and have now closed the lot ,, rather some pips,than all at effective BE.
maybe conservative mmmmmmmmmm
Mike
  • #102,863
  • Oct 10, 2011 6:44am Oct 10, 2011 6:44am
Hey Pinbar, I'm trying to get a handle on the Jarroo method you have talked about. Reading through some of the previous posts about it, and specifically the one you posted way back when, am I correct in saying that in it's most basic form, it's looking at areas of congestion/consolidation, and marking out the extreme boundaries of those areas?

If so I have had an attempt on the GBPAUD Daily. Have a see what you think. The blue boxes are the areas I was looking at, and purple lines are the high and lows of those bars

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  • #102,864
  • Oct 10, 2011 6:47am Oct 10, 2011 6:47am
Quoting Donkey
Moved stop to 9110 after Friday close, taken out over night. Trade was about .3R win, but I left some on the table....still having to put in work on exits.

Hey D

I thought you were already in USD/CHF from 0.78200
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  • #102,865
  • Oct 10, 2011 7:18am Oct 10, 2011 7:18am
demo account for testing my method .the high price of the last 10 days is @ 0.78313. here is the 365ema and i shorted it and sl above 10 days high .
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A chart helps those who can read it.
  • #102,866
  • Oct 10, 2011 7:30am Oct 10, 2011 7:30am
1st target achieved on my GBPAUD short trade.

I took the entry below the inside @65 with 1st target @15 which was just above the low and RND as mentioned further up the thread.

Next area to look out for is 5670, which lines up quite nicely with a 50% retrace, and S2 pivot level. Stops moved to entry on the last part of my trade. Hopefully with the US bank holiday we can see some follow through moves this afternoon to push this lower.

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  • #102,867
  • Oct 10, 2011 7:39am Oct 10, 2011 7:39am
Locked in more profit behind the daily HCR

Let's see how far it can go.
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  • #102,868
  • Oct 10, 2011 7:41am Oct 10, 2011 7:41am
Quoting Pinbar
Locked in more profit behind the daily HCR

Let's see how far it can go.
Think it could move quite nicely today with the US being on holiday and not able to push things around in the UK afternoon session. Should see some follow through movement. Although it's pretty much done it daily ATR so there may be a pause or sideways for a bit till later on tonight would be my guess.
  • #102,869
  • Oct 10, 2011 8:04am Oct 10, 2011 8:04am
Quoting Pinbar
Hey D

I thought you were already in USD/CHF from 0.78200
I'm still in the weekly Pinbar, Pinbar. To borrow a term from Bemac, I added cargo via the daily continuation bar that formed a couple of weeks ago. My second position was stopped out for small profit.
  • #102,870
  • Oct 10, 2011 8:08am Oct 10, 2011 8:08am
Quoting picon1
Hey Pinbar, I'm trying to get a handle on the Jarroo method you have talked about. Reading through some of the previous posts about it, and specifically the one you posted way back when, am I correct in saying that in it's most basic form, it's looking at areas of congestion/consolidation, and marking out the extreme boundaries of those areas?

If so I have had an attempt on the GBPAUD Daily. Have a see what you think. The blue boxes are the areas I was looking at, and purple lines are the high and lows of those bars

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Better let Sir Jarooo answer that as I do not want to confuse you, and I have wrecked my brains at trying to work out how not to do that.
Basically we are looking for a former support area where price has previously had a strong reaction, to flip to resistance and visa vi.

I think you have the basic idea. Can you find any PA setups at the areas you marked off?
  • #102,871
  • Oct 10, 2011 8:12am Oct 10, 2011 8:12am
Hi Pinbar,
i like the way you are trading uerusd,,
I am learning from your charts and trading pattern
Thanks for sharing.
Mike
  • #102,872
  • Oct 10, 2011 8:14am Oct 10, 2011 8:14am
Quoting Donkey
I'm still in the weekly Pinbar, Pinbar. To borrow a term from Bemac, I added cargo via the daily continuation bar that formed a couple of weeks ago. My second position was stopped out for small profit.
Nice one Donkey.

BMAC is missing in action,I think. LOL

Then again, perhaps not.
  • #102,873
  • Oct 10, 2011 8:30am Oct 10, 2011 8:30am
Quoting mmikemj
Hi Pinbar,
i like the way you are trading uerusd,,
I am learning from your charts and trading pattern
Thanks for sharing.
Mike

Thanks but remember, I am just a newbie.

You may find it interesting that this H1 BUEOB that closed above the pennant at an area I was watching with Jarroos methodology, set this move off.
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  • #102,874
  • Oct 10, 2011 9:38am Oct 10, 2011 9:38am
Quoting Pinbar
Do we have a Mike breakout on the cards?
eur/usd had a fantastic BUOB pre-emptive breakout out of the wedge and the BRN
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  • #102,875
  • Oct 10, 2011 9:56am Oct 10, 2011 9:56am
Quoting mbqb11
eur/usd had a fantastic BUOB pre-emptive breakout out of the wedge and the BRN
Yeah, now that you mention it. LOL

It was actually the weekly flip area that got my attention.
Now, I have to learn how not to strangle it.

Didn't happen on Friday here, that H1 BUEOB that broke out happened today Monday Oct 10th. Just depends on what time zone you are in.
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  • #102,876
  • Oct 10, 2011 10:05am Oct 10, 2011 10:05am
The recent moves was kinda hard to see coming on the daily chart. Instead there were a bearish pin bar at a decent location. USDCAD also shows a very nice pin bar at the daily level, but it also seems to break. How would you seniors act on these pin bars? Their location seems nice enough and they're with the trend.
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  • #102,877
  • Oct 10, 2011 10:12am Oct 10, 2011 10:12am
Quoting devcast
The recent moves was kinda hard to see coming on the daily chart. Instead there were a bearish pin bar at a decent location. USDCAD also shows a very nice pin bar at the daily level, but it also seems to break. How would you seniors act on these pin bars? Their location seems nice enough and they're with the trend.
Hey Dev

I had some notes on a chart. This pinbar never broke, but this is not an ideal location we want to see them on. Always look for strong confluence with these bars it makes it a lot easier to play them. A great level if we can pull back to would be the 1.0 pairty level to watch for some PA

Best
Mike
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  • #102,878
  • Oct 10, 2011 11:37am Oct 10, 2011 11:37am
Interesting looking £JPY daily chart. Price closed outside the decending trend line on Friday, and has made a nice strong move away today. There is some fib confluence around the RN of 122 also. The overall trend is still down on this pair, so I would be looking for potential short entries IF/WHEN price reaches the 122-122.50 area.

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  • #102,879
  • Oct 10, 2011 12:00pm Oct 10, 2011 12:00pm
Quoting picon1
Interesting looking £JPY daily chart. Price closed outside the decending trend line on Friday, and has made a nice strong move away today. There is some fib confluence around the RN of 122 also. The overall trend is still down on this pair, so I would be looking for potential short entries IF/WHEN price reaches the 122-122.50 area.

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and it will break the trend line and its gonna target 76.4 fib first target same as gbp usd ... so welcome to the giraffe pattern paicon ...http://www.forexstrategiesresources....ragon-pattern/
  • #102,880
  • Oct 10, 2011 12:15pm Oct 10, 2011 12:15pm
Quoting extremerrage
and it will break the trend line and its gonna target 76.4 fib first target same as gbp usd ... so welcome to the giraffe pattern paicon ...http://www.forexstrategiesresources....ragon-pattern/
lol you and your bloody giraffe patterns
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