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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

  • #103,141
  • Oct 17, 2011 8:12am Oct 17, 2011 8:12am
USDCAD daily..interesting to watch, bounce off lower uptrend line and off 365 EMA. but the nose is less than a 100 pips long. Somehow i am not convinced of this "PB" It more like tested the 365 EMA and not rejected from that level. I'll pass.

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  • #103,142
  • Oct 17, 2011 8:28am Oct 17, 2011 8:28am
Hmm, perhaps we shall see some PA around this area.
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  • #103,143
  • Oct 17, 2011 9:06am Oct 17, 2011 9:06am
i was already in a TT here @ 77...
but hey look @ the beutiful BEOB developed on H4..
its amazing to see the magic of PA.
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  • #103,144
  • Oct 17, 2011 9:25am Oct 17, 2011 9:25am
Quoting AvanishDemo
also UC approaching parity..
abt UC,i like the "regional" confluence of 365ema,50fib n parity..

interesting this week
i did not take this UC as i was already in another trade..but worked out sweet

(though it did not touch parity but we get the picture,right off from 365ema,50 fib)
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  • #103,145
  • Oct 17, 2011 9:34am Oct 17, 2011 9:34am
Quoting Confluence
Hello everyone,

Thank you to all of you who share your setup chart in this forum, that make me learn a lot from all of you about analyze the chart before entry any currency pair. I'm just study price pattern and candlestick formation and want to share my setup chart and need all off your opinion about my chart especially from Mike, Pinbar, and other member.

now I monitoring CHFJPY daily TF in my opinion the price is turning they bias from downtrend to uptrend.

reason for my opinion is the price several days ago is breaking the outer trendline...
Hey C

I would be cautious to simply buy based on a steep trendline like this. If you zoom out your chart a bit you can see how steep this down move has been and how your TL has only 2 points that are confirming the TL. A line like this almost has to be broken, but doesn't necessarily mean a trend is changing. It's just a matter of how steep the pullback might be(which in this case it could be shallow. It's much easier in my view to use PA to confirm your thoughts, instead of buying a new high(where sellers in a trend will love to come in a lot of the times). An easier way is to wait for a solid swing high to be put in. Then wait for that swing high to break to the upside and confirmation that it turns to a support level.

Sorry if that is confusing

Mike
  • #103,146
  • Edited 2:06pm Oct 17, 2011 1:47pm | Edited 2:06pm
Hello everybody,
I am relatively new here, so please tell me if my logic is correct... The S/R is drawn on the weekly chart. In fact the 2nd candle is a Sunday candle, so I shouldn't count it. My broker is Oanda.
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  • #103,147
  • Oct 17, 2011 2:41pm Oct 17, 2011 2:41pm
Quoting mordre
Hello everybody,
I am relatively new here, so please tell me if my logic is correct... The S/R is drawn on the weekly chart. In fact the 2nd candle is a Sunday candle, so I shouldn't count it. My broker is Oanda.
Hey M

Welcome to the thread, your logic is perfectly fine based on your chart.

Mine hasn't closed yet and doesn't quite look like it will close as a BEOB(which would be more ideal in my view). Watch out for the 1.0100 area as your FTA(first trouble area).

What is more important in my view is that if we do break down again, that the area hold marked on my chart(blue PPZ area). So we want to see price break down and never have to get to far above this area to confirm our thought process

Again welcome to the thread and hope to see you post often

Mike
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  • #103,148
  • Oct 17, 2011 3:03pm Oct 17, 2011 3:03pm
@mbqb11,

Thank you for the warm welcome,

So you are saying I should wait for a retest before entering short...
  • #103,149
  • Oct 17, 2011 3:07pm Oct 17, 2011 3:07pm
Quoting mordre
@mbqb11,

Thank you for the warm welcome,

So you are saying I should wait for a retest before entering short...
Hey Mordre

What I meant is that when it "breaks" where your entry would be(say below your 2day pinbar, or on some feeds maybe a BEOB) I would want to see a pretty strong break and that if it does pullback(after you are already in) I would look to use the blue area to help manage the trade. I like to do this for most my trades. SO even if I start with mys top above a bar(in this case your 2 day pinbar) then I would still be looking to jump ship if it pulls back on me too far(above the blue area, which also intersects with a descending TL).

Sorry that might be a bit more heavy then you were looking for on your first post

Best
Mike
  • #103,150
  • Edited 3:34pm Oct 17, 2011 3:14pm | Edited 3:34pm
@mbqb11,

It makes sense, I got it. Thanks
I've got a lot more charts like the first one, so there will be a lot of trades for tomorrow.
AUD/CAD, AUD/JPY, EUR/JPY, EUR/USD, GBP/AUD, GBP/CHF, GBP/USD, these are the ones that pop out at a glance so far.
  • #103,151
  • Oct 17, 2011 4:10pm Oct 17, 2011 4:10pm
It looks like markets are set for inevitable. Will S&P make huge fall in next couple of days? ... Will the USDNOK D1 BUOB provide the long entry with huge potential into the monthly BUOB? Who knows ...but i would beat myself for not participating in this possible scenario. Cheers!
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  • #103,152
  • Oct 17, 2011 4:17pm Oct 17, 2011 4:17pm
Alluring setups today..but i choose one.
Sell order @ the break.
FTA as marked
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  • #103,153
  • Oct 17, 2011 5:12pm Oct 17, 2011 5:12pm
Quoting AvanishDemo
Alluring setups today..but i choose one.
Sell order @ the break.
FTA as marked
Hey Avanish, long time.

Thought about removing 'Demo' from your name?

Eeny, meeny, miny, moe... AUD is generally looking weak all round.

T
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  • #103,154
  • Oct 17, 2011 5:22pm Oct 17, 2011 5:22pm
Quoting Greenhaze
It looks like markets are set for inevitable. Will S&P make huge fall in next couple of days? ... Will the USDNOK D1 BUOB provide the long entry with huge potential into the monthly BUOB? Who knows ...but i would beat myself for not participating in this possible scenario. Cheers!
Hey K

I DO like that monthly chart Nice bit of PA confluence on the daily.

T
  • #103,155
  • Oct 17, 2011 5:27pm Oct 17, 2011 5:27pm
Quoting 5.25
Hey Avanish, long time.

Thought about removing 'Demo' from your name?

Eeny, meeny, miny, moe... AUD is generally looking weak all round.

T
yea lol..when i made profile on FF..i did not knew that username would remain permanent..
anyways,longtime brotha..hope alls fine around u...

real account next year...once im done with graduation.
  • #103,156
  • Oct 17, 2011 5:33pm Oct 17, 2011 5:33pm
Quoting AvanishDemo
yea lol..when i made profile on FF..i did not knew that the name would remain permanent..
anyways,longtime brotha..hope alls fine around u...

real account next year...once im done with graduation.
That level of sensibility will get you far AvanishPro.

I've got a years study coming up soon too. After that, I should be a registered architect, just enough time to retire from the profession, trade, then design and build my own house. A modest house, of course.
  • #103,157
  • Oct 17, 2011 5:39pm Oct 17, 2011 5:39pm
Quoting 5.25
That level of sensibility will get you far AvanishPro.

I've got a years study coming up soon too. After that, I should be a registered architect, just enough time to retire from the profession, trade, then design and build my own house. A modest house, of course.
wow thats great..all the best for future..
me planning to do MBA after completing Engineering..
its a rat-race here to get into elite institutes lol

thanks for the above comments..
keep posting bro,really njoy ur posts!!
black n white charts..clean,simple n self-explanatory..i like that.
  • #103,158
  • Oct 17, 2011 5:48pm Oct 17, 2011 5:48pm
Quoting AvanishDemo
Alluring setups today..but i choose one.
Sell order @ the break.
FTA as marked
I chose this one too. Most of the other pairs didn't close below a BRN. I would have liked to have seen this one engulf 2 days of bars, but the close on this one, location, and space to FTA make this a high probability set up in my opinion.
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  • #103,159
  • Oct 17, 2011 6:26pm Oct 17, 2011 6:26pm
Looking at CJ in a little more depth, it looks to be an interesting area.
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  • #103,160
  • Oct 17, 2011 6:26pm Oct 17, 2011 6:26pm
Quoting mbqb11
Hey C

I would be cautious to simply buy based on a steep trendline like this. If you zoom out your chart a bit you can see how steep this down move has been and how your TL has only 2 points that are confirming the TL. A line like this almost has to be broken, but doesn't necessarily mean a trend is changing. It's just a matter of how steep the pullback might be(which in this case it could be shallow. It's much easier in my view to use PA to confirm your thoughts, instead of buying a new high(where sellers in a trend will love to come in a...
Hello Mike

thank you for your explanation
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