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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

  • #102,941
  • Oct 12, 2011 3:28am Oct 12, 2011 3:28am
closed one trade, will take action on the second when price closes in on the 1.38 rn

dollar taking a nice bashing today
  • #102,942
  • Oct 12, 2011 3:31am Oct 12, 2011 3:31am
1st taregt met on NZDUSD long trade for +35. Next area I see coming up on the daily and weekly chart is 7950 as an area of past S&R. Keeping watching.

Thinking the run up on EU will drag the NZD up with it.
  • #102,943
  • Oct 12, 2011 3:38am Oct 12, 2011 3:38am
Quoting picon1
1st taregt met on NZDUSD long trade for +35. Next area I see coming up on the daily and weekly chart is 7950 as an area of past S&R. Keeping watching.

Thinking the run up on EU will drag the NZD up with it.
Best if you could post a chart with the comments.
I have no idea what trade you are talking about.

What PA was there, the H4 PB?
  • #102,944
  • Oct 12, 2011 3:42am Oct 12, 2011 3:42am
Quoting Pinbar
Best if you could post a chart with the comments.
I have no idea what trade you are talking about.

What PA was there, the H4 PB?
Yeah I will do, although I posted it yesterday as well. Maybe a link back to that comment on the thread.
It was a daily DBLHC entry for me, with some weekly long confirmation.

This is how things looked yesterday on the dailies when I commented on it.

Attached Image (click to enlarge)
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note: is there any way of adding previous images posted into new threads without uploading them again?

Link to yesterdays post here
  • #102,945
  • Oct 12, 2011 3:48am Oct 12, 2011 3:48am
Quoting picon1
Yeah I will do, although I posted it yesterday as well. Maybe a link back to that comment on the thread.
It was a daily DBLHC entry for me, with some weekly long confirmation.

This is how things looked yesterday on the dailies when I commented on it.

Attachment

note: is there any way of adding previous images posted into new threads without uploading them again?

Link to yesterdays post here

What PA setup was there, I don't see a valid one.
That bar looks like a DBLHC but I think the lows have more than 3 pips difference, 3 pips is the limit in either a DBLHC or DBHLC

EDIT: Yeah, just go back and click on the image to expand and copy the URL, then use the button in this pic to link the URL to the image. It will display the image.
  • #102,946
  • Oct 12, 2011 3:58am Oct 12, 2011 3:58am
Quoting Pinbar
What PA setup was there, I don't see a valid one.
That bar looks like a DBLHC but I think the lows have more than 3 pips difference, 3 pips is the limit in either a DBLHC or DBHLC

EDIT: Yeah, just go back and click on the image to expand and copy the URL, then use the button in this pic to link the URL to the image. It will display the image.
On my data the difference was only 2 tenths of a pip 76733 on the first bar, and 76735 on the second bar.

That's why I always say to people that ask me to use the data you have in front of you. No central FX market, so every body is going to have slightly different data based on numerous factors. I even know people using the same platform with the same broker that have slightly different data simply because the platform is connected to different servers with the broker.

So moral to the story. Use the data you have in front of you.

And thanks for the tip on the image thing
  • #102,947
  • Oct 12, 2011 4:10am Oct 12, 2011 4:10am
Quoting picon1
On my data the difference was only 2 tenths of a pip 76733 on the first bar, and 76735 on the second bar.

That's why I always say to people that ask me to use the data you have in front of you. No central FX market, so every body is going to have slightly different data based on numerous factors. I even know people using the same platform with the same broker that have slightly different data simply because the platform is connected to different servers with the broker.

So moral to the story. Use the data you have in front of you.

And thanks...
I see, images can deceive us.

Good job

Might want to watch out for the HCR on the weekly.
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  • #102,948
  • Oct 12, 2011 4:16am Oct 12, 2011 4:16am
Quoting Pinbar
I see, images can deceive us.

Good job

Might want to watch out for the HCR on the weekly.
Yeah I was doing. That's where my 2nd target area was/is. Was thinking about trying to hold this one a bit longer than my previous trades.

Been stopped out too early on the second part of previous traces on USDCAD and GBPAUD. On GBPAUD especially, I went short at what is looking like the perfect time on the daily PB from last week. Such is life I suppose.
  • #102,949
  • Oct 12, 2011 4:27am Oct 12, 2011 4:27am
Moved & locked the SL behind the weekly LCS that lines up with the HCR
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  • #102,950
  • Oct 12, 2011 4:32am Oct 12, 2011 4:32am
Quoting Pinbar
Moved & locked the SL behind the weekly LCS that lines up with the HCR
I'm thinking of moving the SL up to behind the 4H bar on my NZD trade. Showing that rejection on the 7950 area like we thought. Don't want to move the stop up too far though and get shaken out on any pull backs.
  • #102,951
  • Oct 12, 2011 4:36am Oct 12, 2011 4:36am
Just realised I made a sloppy mistake on my USDCAD trade as well. The entry size had defaulted to the platforms base lot size which is 1 micro lot. Damn it. Lesson for today. Check and double check entry orders. Grrrrr
  • #102,952
  • Oct 12, 2011 4:40am Oct 12, 2011 4:40am
Behind the 38.2 fibo could be interesting.
Maybe be in for a retracement at this area with the spike, the TL the 38.2 fibo and the BRN.

EDIT

It is a monthly HCR
I only looked at the weekly, but just checked it out.
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  • #102,953
  • Oct 12, 2011 4:45am Oct 12, 2011 4:45am
Quoting Pinbar
Behind the 38.2 fibo could be interesting.
Maybe be in for a retracement at this area with the spike, the TL the 38.2 fibo and the BRN.
One option. Essentially means moving stops to entry. My entry was 65.
Stop positioning is something I need a lot of work on. Missed a ton of pips on GBPAUD by not giving the trade room to run. Went short at 6125 and look at that baby now. Touch of 55. Bugger!
  • #102,954
  • Oct 12, 2011 4:49am Oct 12, 2011 4:49am
Quoting picon1
One option. Essentially means moving stops to entry. My entry was 65.
Stop positioning is something I need a lot of work on. Missed a ton of pips on GBPAUD by not giving the trade room to run. Went short at 6125 and look at that baby now. Touch of 55. Bugger!
I hear you, that is another reason I am working on Jarroo's methodology.
Gives us very logical areas to tuck our SL behind.
  • #102,955
  • Oct 12, 2011 4:55am Oct 12, 2011 4:55am
Quoting Pinbar
I hear you, that is another reason I am working on Jarroo's methodology.
Gives us very logical areas to tuck our SL behind.
Keep reading over that details for his stuff. Just trying to train my eye to spot the areas. I think I've got the basics of looking across the charts and spotting the S&R zones, just need to fine tune it and make sure I'm on the right track.
  • #102,956
  • Oct 12, 2011 4:58am Oct 12, 2011 4:58am
Quoting picon1
Keep reading over that details for his stuff. Just trying to train my eye to spot the areas. I think I've got the basics of looking across the charts and spotting the S&R zones, just need to fine tune it and make sure I'm on the right track.

Just keep your eyes on the SH & SL points on the higher TFs.

That is what I missed, the first time around.
  • #102,957
  • Oct 12, 2011 5:00am Oct 12, 2011 5:00am
Quoting Pinbar
Just keep your eyes on the SH & SL points on the higher TFs.

That is what I missed, the first time around.
It certainly makes it easier and less messy the higher up the TFs you go. That's what I'm finding by looking at the dailies and weeky charts. I can't believe I used to trade primarily off 1h and under charts with out looking at the higher stuff.
  • #102,958
  • Oct 12, 2011 5:06am Oct 12, 2011 5:06am
These are some of the areas I had marked off on NZDUSD as per the basic levels of S&R at what I see as SH and SLs.

Took off the weekly and daily charts.

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  • #102,959
  • Oct 12, 2011 5:26am Oct 12, 2011 5:26am
Quoting picon1
These are some of the areas I had marked off on NZDUSD as per the basic levels of S&R at what I see as SH and SLs.

Took off the weekly and daily charts.

Attachment

I like to put the main areas on the Monthly and then go down to the weekly and put in the ones that price either consolidated at or made a strong move away from. When, I move down to the daily there are still daily PPZ but we can generally see them without drawing them as price often reacts at these areas on the daily. But, note I am using the HCR LCS for the PPZ, not just the highs.
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  • #102,960
  • Oct 12, 2011 5:38am Oct 12, 2011 5:38am
Looks like we have a downward channel on NZD/USD, whereas EU & EJ are in an upward channel.
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