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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

  • #103,241
  • Oct 19, 2011 4:24am Oct 19, 2011 4:24am
Quoting Pinbar
EJ has got my attention.
Yeah I have been looking at a short opp on EJ this morning, but admittedly it is off the daily charts, not the monthly. Your monthly looks interesting. Price sat between 2 PPZ areas.

Daily starting to offer up an entry on a 50% retrace of yesterdays BEOB. Just needs to get to 106.50 first.
  • #103,242
  • Oct 19, 2011 4:39am Oct 19, 2011 4:39am
Quoting picon1
Yeah I have been looking at a short opp on EJ this morning, but admittedly it is off the daily charts, not the monthly. Your monthly looks interesting. Price sat between 2 PPZ areas.

Daily starting to offer up an entry on a 50% retrace of yesterdays BEOB. Just needs to get to 106.50 first.

Yeah, I just fine tuned it. LOL

Now this M30 candle has closed above this area, it may act as support but, IBFX connection just got severed. NB: This is not a trade recommendation, just an exercise.
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  • #103,243
  • Oct 19, 2011 5:02am Oct 19, 2011 5:02am
Quoting Kalbar
Hi Guys

Just wondering if anyone took the AJ et al BEOBs and still holding them after the strong retrace? I am having a difficult month with 3 losers on the trot so have to wait for the next A++ trade to hopefully stop the bleeding!

Markets are testing me at the moment so will have to show a lot of discipline and patience in waiting for the next really good setup.

Good trading to all,

Kal
I took a loss on that one Kalbar. It hit the first FTA and i didn't put my SL to BE and today i just cut my losses. I ain't confident about its movement anymore when it breached the 61.8 ret.

some traders here may put their SL at the top of that bar but i don't want to take a full bar loss and considering its movement it might very well continue upwards.

guess its just poor trade management on my part. i had wanted to shift my SL to BE when i have a 30 pip profit, but i should see it from the point if the nearest FTA which is just 20 pips (77.60) from my entry at 77.80 and shifted to BE.

very disappointing.
  • #103,244
  • Edited 5:29am Oct 19, 2011 5:16am | Edited 5:29am
See, how price showed us the flip even on this M30 TF.

That is not to say, it won't come crashing back down.

Edit: Almost uncanny, how the two monthly areas show us this daily HCR and the PBT&CB with the retest.
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  • #103,245
  • Oct 19, 2011 5:37am Oct 19, 2011 5:37am
Quoting Pinbar
See, how price showed us the flip even on this M30 TF.

That is not to say, it won't come crashing back down.

Edit: Almost uncanny, how the two monthly areas show us this daily HCR and the PBT&CB with the retest.
I'm still not feeling overly excited at these jpy retraces. After a couple of days off with no net connection, I'm finding myself not eager to get in to a trade.

So far I've got 3 pairs I'm keeping an eye on. EJ, CADJPY, and AJ. All offering similar type entry setups, but they aren't lighting my fire.
  • #103,246
  • Oct 19, 2011 5:40am Oct 19, 2011 5:40am
Quoting picon1
I'm still not feeling overly excited at these jpy retraces. After a couple of days off with no net connection, I'm finding myself not eager to get in to a trade.

So far I've got 3 pairs I'm keeping an eye on. EJ, CADJPY, and AJ. All offering similar type entry setups, but they aren't lighting my fire.

Good, we should not feel excited with any trade and neither is that the point of what I am doing here.

I am just seeing how fractal this methodology is.



Here comes the RT.
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  • #103,247
  • Oct 19, 2011 5:43am Oct 19, 2011 5:43am
Here is an example of ret entry by James. I am trying to compare this action with whats going on currently. the price action of EJ - the balence from bulls to bears wasnt swung as strongly as it did in the example below.


http://www.forexfactory.com/showthre...78#post4689178
Trading is a test match not a Twenty20.
  • #103,248
  • Oct 19, 2011 5:49am Oct 19, 2011 5:49am
Quoting fascist
I took a loss on that one...
very disappointing.
don't be *very* disappointed.
that's just one trade. learn & move on.

u will trade several hundred or thousand trades in the future. (if u are really serious about trading)
one win/loss is not a good measurement of your competence/incompetence.

Quoting decentchap
Here is an example of ret entry by James. I am trying to compare this action with whats going on currently. the price action of EJ - the balence from bulls to bears wasnt swung as strongly as it did in the example below.
http://www.forexfactory.com/showthre...78#post4689178
nice observation.

which timeframe are u comparing this with?
it looks pretty similar on eurjpy's 4H (on Oanda, at least)
if u are trying to compare this with eurjpy's current Daily chart, it's vastly different. (compare james16 daily chart with 2 shaded areas vs current eurjpy's daily chart from Sept.12-ish onwards)
  • #103,249
  • Oct 19, 2011 6:01am Oct 19, 2011 6:01am
M30 opposing PBs, are we going up to test the 106.612?
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  • #103,250
  • Oct 19, 2011 6:06am Oct 19, 2011 6:06am
Quoting Pinbar
M30 opposing PBs, are we going up to test the 106.612?
i think so. later, if not, tomorrow.
i believe we are headed towards 108 to 113/114 area again.
just my view
  • #103,251
  • Oct 19, 2011 6:07am Oct 19, 2011 6:07am
Quoting supremeChaos
i think so. later, if not, tomorrow.
i believe we are headed towards 108 to 113/114 area again.
just my view

Thanks SC...Certainly is an interesting exercise in S&R.

EDIT: Yeah, that was a pretty bullish weekly bar.
I am surmising the rest is the space?
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  • #103,252
  • Oct 19, 2011 6:07am Oct 19, 2011 6:07am
Quoting supremeChaos
don't be *very* disappointed.
that's just one trade. learn & move on.

u will trade several hundred or thousand trades in the future. (if u are really serious about trading)
one win/loss is not a good measurement of your competence/incompetence.


nice observation.

which timeframe are u comparing this with?
it looks pretty similar on eurjpy's 4H (on Oanda, at least)
if u are trying to compare this with eurjpy's current Daily chart, it's vastly different. (compare james16 daily chart with 2 shaded areas vs current eurjpy's daily...
hi SC,

I was just reading someone's post about retrace entry posts and comparing this

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Trading is a test match not a Twenty20.
  • #103,253
  • Oct 19, 2011 6:07am Oct 19, 2011 6:07am
Quoting fascist
I took a loss on that one Kalbar. It hit the first FTA and i didn't put my SL to BE and today i just cut my losses. I ain't confident about its movement anymore when it breached the 61.8 ret.

some traders here may put their SL at the top of that bar but i don't want to take a full bar loss and considering its movement it might very well continue upwards.

guess its just poor trade management on my part. i had wanted to shift my SL to BE when i have a 30 pip profit, but i should see it from the point if the nearest FTA which is just 20 pips...
yeah man..
Trading a Yen pair is never easy...
the minor PPZ(in blue)i wasn't really bothered abt it as i ws trying to look at the bigger picture..

the space we had was enough to make the price break the minor PPZ
but not everything will be hunky dory..

anyways,im still holding..though it doesn't look so good to hold...
i see many times..Yen pairs consolidate a lot(like price going thru heavy drawdowns) before price making the next move in our favour.

setup was decent.50fib,80BRN,4 touch of TL,downtrend.
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  • #103,254
  • Oct 19, 2011 6:10am Oct 19, 2011 6:10am
Quoting Pinbar
M30 opposing PBs, are we going up to test the 106.612?
Hey PB,

Thats a really nice area on m30 and since it broke i think we might aproach this area soon. Its confluencing nicely with the monthly resistance. I will probably touch trade it.
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  • #103,255
  • Oct 19, 2011 6:11am Oct 19, 2011 6:11am
Quoting supremeChaos
i think so. later, if not, tomorrow.
i believe we are headed towards 108 to 113/114 area again.
just my view
I Expect some resistance from the March PB low @ 45. It's been a pretty good reaction area the last few times it's reached there.

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  • #103,256
  • Oct 19, 2011 6:15am Oct 19, 2011 6:15am
Quoting Greenhaze
Hey PB,

Thats a really nice area on m30 and since it broke i think we might aproach this area soon. Its confluencing nicely with the monthly resistance. I will probably touch trade it.

I thought you might GH. LOL
  • #103,257
  • Oct 19, 2011 6:19am Oct 19, 2011 6:19am
This is what I'm looking at on the CADJPY. I've tidied up the chart a bit by removing the fib lines, but have placed a horizontal line at the area where the confluences occured.

Plenty of fib confluence areas make this a bit iffy for me. Looking at the chart there has been multi touches of the trend line, and price is currently above it. Looking at the fib conf areas, then the zones at 78.75 & 77.25-30 are looking like the best of the bunch. They pretty much line up with the consolidation boundaries as well.

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  • #103,258
  • Oct 19, 2011 6:22am Oct 19, 2011 6:22am
Quoting fascist
I took a loss on that one Kalbar. It hit the first FTA and i didn't put my SL to BE and today i just cut my losses. I ain't confident about its movement anymore when it breached the 61.8 ret.

some traders here may put their SL at the top of that bar but i don't want to take a full bar loss and considering its movement it might very well continue upwards.

guess its just poor trade management on my part. i had wanted to shift my SL to BE when i have a 30 pip profit, but i should see it from the point if the nearest FTA which is just 20 pips...
Anybody who bought JPY or USD is in deep DD or already lost. I have long USDNOK and i dont care much about the loss at the moment. If it happens ....it happens.... nothing you can do about it ... Next trade like that might be a runner.

Aud/jpy is a carry pair which means when the equities are going up this pair will follow and in case of crash, this pair will colapse like you can see on higher tf. This pair will lead all ***/jpy pair most of the time.
  • #103,259
  • Oct 19, 2011 6:24am Oct 19, 2011 6:24am
Quoting decentchap
...I was just reading someone's post about retrace entry posts and comparing this
i see..

looking at those 2 charts... yup, the left-hand side is vastly different, structure-wise.

Quoting Pinbar
...I am surmising the rest is the space?
im not sure that particular space will play a big role in the potential upmove.
im not sure with my analysis too, as i haven't traded since last week. i may not be in tune with the market right now, LOL

107 - 108 area is crucial to a continued upmove. (should act as support). if so, i can see a possibility we'll finish the month at the 109 area, more or less.

Quoting Greenhaze
... Its confluencing nicely with the monthly resistance. I will probably touch trade it.
Uh-oh. i knew it.
don't load up too much on those shorts, else 105.00 will break again, heheh

Quoting picon1
I Expect some resistance from the March PB low @ 45. It's been a pretty good reaction area the last few times it's reached there.
106.45? if so, yes it is acting as resistance as of this time. your chart clearly shows it
  • #103,260
  • Oct 19, 2011 6:37am Oct 19, 2011 6:37am
Thanks SC. I doubt not trading for a while will change that 6th sense.

Winding up on M30, I suspect those wicks mean a break out.
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