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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

  • #103,361
  • Oct 20, 2011 11:32pm Oct 20, 2011 11:32pm
Quoting mbqb11
I know a bunch of us are in this in the PF been following for awhile. I wonder if anyone here followed this one.


Nice big buob right where we want it.
Cool !! Mike, which broker is this ? I don't see such a BUOB on Oanda.
  • #103,362
  • Oct 21, 2011 1:37am Oct 21, 2011 1:37am
Quoting cprao
Cool !! Mike, which broker is this ? I don't see such a BUOB on Oanda.
his chart says Alpari UK

nice trade Sir Mike!
  • #103,363
  • Oct 21, 2011 3:45am Oct 21, 2011 3:45am
Quoting nikim
Weekly making lower highs.

Daily has a BEOB that closed below BRN.

Comments.

Chart is AUDCAD
I'll give my thoughts on this one nikim for what they are worth.

The first thing that jumps out at me is that price is consolidating i.e going sideways. While I agree that it is making lower highs on the weekly TF, and the daily setup you pointed out has closed below a RN, I just don't see any other supporting evidence to take this trade. No ema's in and around price, no fib confluences. I'm not the best at PPZs either, but the most obvious one for me is above current price at the 0500 area. So not even that going for it.

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I'd be patient and pass on this one, and wait for something better.

I'm still sat waiting for something to develop. Been a bit of a boring week so far. Things seem to be consolidating across the board from my view point.
  • #103,364
  • Oct 21, 2011 6:17am Oct 21, 2011 6:17am
This much is enough. Almost 50 pip.

Quoting Lanes110
I am in this with 50 pip stop. Lets see how it goes.
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  • #103,365
  • Oct 21, 2011 6:57am Oct 21, 2011 6:57am
GU is starting to look interesting.
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  • #103,366
  • Oct 21, 2011 7:04am Oct 21, 2011 7:04am
Quoting Pinbar
GU is starting to look interesting.
Yeah I've just been looking at this PB. Also looking at the other GBP crosses and the news to see if there was an explanation as to why the sudden action.

I can't find anything on the calendar to suggest anything. Any ideas?

Also I PM'd you yesterday PB. You get it?
  • #103,367
  • Oct 21, 2011 7:30am Oct 21, 2011 7:30am
Quoting Pinbar
Mike, had that the wedge not been there, would you have passed on that Bar?
Hey Pin

That's too hard for me to say as it would still depend what else was there. If we take the wedge away I would still possibly take the bar if there was still another story. So a bit of a tough question to answer if you know what I mean

Best
Mike
  • #103,368
  • Oct 21, 2011 7:31am Oct 21, 2011 7:31am
Quoting dmc
Absolutely awesome, you called that one. Too bad I wasn't watching this one intraday. Will be kicking myself in the ass

EDIT: I don't feel so bad now. I cant trade this pair on OANDA or IBFX :-) PHEW
You can trade this pair on Oanda, but don't kick yourself


Mike
  • #103,369
  • Oct 21, 2011 7:31am Oct 21, 2011 7:31am
Quoting cprao
Cool !! Mike, which broker is this ? I don't see such a BUOB on Oanda.
The charting is FXpro


Best
Mike
  • #103,370
  • Oct 21, 2011 7:38am Oct 21, 2011 7:38am
Quoting picon1
Yeah I've just been looking at this PB. Also looking at the other GBP crosses and the news to see if there was an explanation as to why the sudden action.

I can't find anything on the calendar to suggest anything. Any ideas?

Also I PM'd you yesterday PB. You get it?

Just consolidation, breakout , consolidation, retest & another breakout off the monthly PPZ.

Yeah, I got the PM. NP
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  • #103,371
  • Oct 21, 2011 7:39am Oct 21, 2011 7:39am
Quoting mbqb11
Hey Pin

That's too hard for me to say as it would still depend what else was there. If we take the wedge away I would still possibly take the bar if there was still another story. So a bit of a tough question to answer if you know what I mean

Best
Mike
Thanks Mike...I know what you mean, the wedge probably tipped the scales.
  • #103,372
  • Oct 21, 2011 7:55am Oct 21, 2011 7:55am
Quoting Pinbar
Just consolidation, breakout , consolidation, retest & another breakout off the monthly PPZ.

Yeah, I got the PM. NP
Nice one, PB. . Notice where Price retraced back to once PBT&CA of that Daily consolildation . .to the pip of the HCR levels. . .nice.


Currently . .possible shorting opps ..don't you think? Touch trade possible but some nice bearish PA would be the best confirmation.
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Indicators show the past. Price Action "Indicates" the future.
  • #103,373
  • Oct 21, 2011 8:03am Oct 21, 2011 8:03am
Quoting jarroo
Nice one, PB. . Notice where Price retraced back to once PBT&CA of that Daily consolildation . .to the pip of the HCR levels. . .nice.


Currently . .possible shorting opps ..don't you think? Touch trade possible but some nice bearish PA would be the best confirmation.

Hmmm, I have a feeling it is going all the way to the 365 on the daily.
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  • #103,374
  • Oct 21, 2011 8:05am Oct 21, 2011 8:05am
Quoting Pinbar
Hmmm, I have a feeling it is going all the way to the 365 on the daily.
That would line up nicely with the Weekly LCS level . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,375
  • Oct 21, 2011 8:07am Oct 21, 2011 8:07am
Quoting jarroo
That would line up nicely with the Weekly LCS level . .

Yeah, as I was drawing the daily consolidation box, I was thinking to myself, "I bet Jarroo is already in this" Were you? LOL
  • #103,376
  • Oct 21, 2011 8:08am Oct 21, 2011 8:08am
Quoting Pinbar
Yeah, as I was drawing the daily consolidation box, I was thinking to myself, "I bet Jarroo is already in this" Were you? LOL

No I didn't get into that one . .the consolidation build was to small, also limited Space too.
Indicators show the past. Price Action "Indicates" the future.
  • #103,377
  • Oct 21, 2011 8:12am Oct 21, 2011 8:12am
Quoting jarroo
No I didn't get into that one . .the consolidation build was to small, also limited Space too.

Oh, I see.

Hmm, now that is another can of worms you have just opened.
Too small a consolidation area


I like this monthly HCR and all the closes.
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  • #103,378
  • Oct 21, 2011 8:15am Oct 21, 2011 8:15am
Quoting Pinbar
Oh, I see.

Hmm, now that is another can of worms you have just opened.
Too small a consolidation area


I like this monthly HCR and all the closes.

Yes, very nice . .at the 1.6000 BRN . .no surprise there (right Mike? . .)
Indicators show the past. Price Action "Indicates" the future.
  • #103,379
  • Oct 21, 2011 8:19am Oct 21, 2011 8:19am
Just watching the consolidation buildup on M15.

Seems to suggest a higher rally.
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  • #103,380
  • Oct 21, 2011 8:30am Oct 21, 2011 8:30am
Quoting jarroo
That would line up nicely with the Weekly LCS level . .
Are you looking at 1.5962/3 area? I see a wkly hcr from Aug 2010 lining up almost to the pip with LCS from Jun 2011. Add in Pinbar's 365 and a 50 retracement that's there.....I think you guys are onto something.
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