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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

  • #103,401
  • Oct 22, 2011 5:44am Oct 22, 2011 5:44am
possible shs-formation on ads.
weekly chart. bullish bar showing strength.
i don't expect it to retrace here.
further rise more likely.
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meine augen sind die sterne
  • #103,402
  • Oct 22, 2011 5:53am Oct 22, 2011 5:53am
Quoting mbqb11
update before the weekend

Price used our first area as support when it broke through. Bounced at area 2(second blue line), now approached top of the pattern and it would be more then fine closing this out now. Gonna see how it develops though myself


Have a nice weekend all

Mike
nice trade mike !
Hero calls followed by margin calls...
  • #103,403
  • Oct 22, 2011 5:56am Oct 22, 2011 5:56am
fmc on daily with a nice triangle.
volume increasing which is important for a breakout.
i expect a test of the upper zone at 53 eur. you can go long at the possible breakout or wait for a drop down to the triangle to go long there.
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meine augen sind die sterne
  • #103,404
  • Oct 22, 2011 7:17am Oct 22, 2011 7:17am
kbc on daily and weekly.
good downtrend. price already crossed the 5 eur to the downside. a next fall below this ppz would be a good setup for shorts.
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meine augen sind die sterne
  • #103,405
  • Oct 22, 2011 11:09am Oct 22, 2011 11:09am
lse-listed bats on weekly. breakout on good volume.
friday's daily bar was very strong.
showing excellent relative strength to the stock market.
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meine augen sind die sterne
  • #103,406
  • Oct 22, 2011 11:45am Oct 22, 2011 11:45am
hi guys,
I had a question on the retrace entries. Is is best to put the limit order after the PA bar breaks or as soon as the pa bar closes?
Also what would promt you to take retrace entry instead of simple break aside from your risk appetite?
Many thanks
DC
Trading is a test match not a Twenty20.
  • #103,407
  • Oct 22, 2011 12:30pm Oct 22, 2011 12:30pm
italian medionlaum with a bearish engulfing (previuos weekly high was just 0.01 eur higher).
right at the 50% and the rn 3.00 eur. a good warning sign was the falling volume during the upmove.
could see new lows in the next weeks.
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meine augen sind die sterne
  • #103,408
  • Oct 22, 2011 7:46pm Oct 22, 2011 7:46pm
- 4h pin bar on usdjpy. Could be a case of Friday profit taking. Curious to see how price will move come sunday open.

- 76.660 might be good for a quick touch trade short.
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  • #103,409
  • Oct 22, 2011 9:42pm Oct 22, 2011 9:42pm
Quoting jarroo
Here's one for you Pb, . . Eur/Chf Weekly /Monthly LCS . .PBT&CB . .Bam!! . .(KaBoom!, is already taken . .)

I can just see you taking the H1 pullback, with a 13 pip stop above the H1 HCR, which also gets you into the weekly BEOB with a 13 pip stop? Makes going to BE+ pretty easy. LOL

Very nice, another piece of the puzzle falls into place.
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  • #103,410
  • Oct 23, 2011 3:23am Oct 23, 2011 3:23am
Quoting Pinbar
Yeah, that one gave me a bit of trouble as I could not find a monthly level around there, then I found the weekly level. I like the TL also.
However, my feed is slightly different and it was at 1.24478.

Whats a tenth of a pip between friends. LOL

EDIT: Has price found itself back in the channel and behaving itself, or is it going to go down to the mid area and breakout?
How did I forget the confluences , . .Thanks Pb.

IBFX was right there too . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,411
  • Oct 23, 2011 3:28am Oct 23, 2011 3:28am
Quoting baz
Hi Mike..
for about 2 or 3 seconds..the sentence you wrote,

"Nice big buob right where we want it."

i read as " Nice big boob right ....."

Yes i was reading without my glasses.... !!
BUT
and getting old to boot as well..
just a bit of fun

take care and have a great w/e

baz
LOL . .

Interesting . .Big BUOBs and Big BOOBs are important to me especially when they standout . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,412
  • Oct 23, 2011 3:51am Oct 23, 2011 3:51am
Quoting decentchap
hi guys,
I had a question on the retrace entries. Is is best to put the limit order after the PA bar breaks or as soon as the pa bar closes?
Also what would promt you to take retrace entry instead of simple break aside from your risk appetite?
Many thanks
DC
Hey decentchap,

I would usualy take the break of the PA formation and if the bar closes above the break all the better. Much of it depends on the Size and Location of the PA formation.

If a large PA formation is at its proper swing point (Bearish PA at Swing Highs/ Bullish PA at Swing Lows) it may never retrace. But we have seen many times that Price will retrace back to the entry of a properly located PA formation.

This alone may not be enough to take a limit at the retest of the entry unless there is other confluences or S/R levels that align with it. . .if that makes sense.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #103,413
  • Oct 23, 2011 4:10am Oct 23, 2011 4:10am
Quoting 5.25
- 4h pin bar on usdjpy. Could be a case of Friday profit taking. Curious to see how price will move come sunday open.

- 76.660 might be good for a quick touch trade short.
Interesting where your 76.66 lines up with, T.

TT short or bearish PA at that level looks good . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,414
  • Oct 23, 2011 4:14am Oct 23, 2011 4:14am
Quoting Pinbar
I can just see you taking the H1 pullback, with a 13 pip stop above the H1 HCR, which also gets you into the weekly BEOB with a 13 pip stop? Makes going to BE+ pretty easy. LOL

Very nice, another piece of the puzzle falls into place.
Alot of pieces of a puzzle . . .or of a story . . . . can come about at these levels . . . .be they lower time frame retracement levels or wedge pattern formations or good old PA . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,415
  • Oct 23, 2011 5:15am Oct 23, 2011 5:15am
Quoting jarroo
Interesting where your 76.66 lines up with, T.

TT short or bearish PA at that level looks good . . .
I might have to start putting "Jarroo" down for added confluence

Thanks for the feedback
  • #103,416
  • Oct 23, 2011 5:43am Oct 23, 2011 5:43am
Quoting AvanishDemo
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)
Another opportunity to go long? USD looking quick bearish at the moment though.
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  • #103,417
  • Oct 23, 2011 6:34am Oct 23, 2011 6:34am
Quoting Pinbar
Looking good.
A lot of people including myself, end up with a birdcage when first drawing PPZ, this prevents that.

DMC has good advice about not curve fitting a PPZ to a RN by force.
That is why I use the RN indicator, so I am still aware of the RN but do not have to force the PPZ to them.

Good Job

Hey Picon, where in the UK are you from, I am from Macclesfield, Oh so many moons ago.
Yeah I marked the line up based on my PA, then took a look at the price levels they were at. Some of them not quite lining up with RNs, but were pretty close. Some were a good 20-30 pips off a RN.

I'm from sunny Manchester, home of the scally...well just outside Manchester really. Nearer to Saddleworth.
  • #103,418
  • Oct 23, 2011 6:36am Oct 23, 2011 6:36am
Quoting Pinbar
Looks like GU is going to hit the 365 & 150 all bunched up there around the PPZ.

Looks like a powerful move up, are we going to get a PBT&CA?
Tell you what PB, if that little wish bar of yours forms on GU, I'll be all over it like snot on a kids sleeve
  • #103,419
  • Oct 23, 2011 7:13am Oct 23, 2011 7:13am
Quoting picon1
Tell you what PB, if that little wish bar of yours forms on GU, I'll be all over it like snot on a kids sleeve
Madchester eh. One of my favorite University Haunts.

Yeah, it should be interesting, I don't care if it breaks through and closes above or gets rejected. As long it tips its hand.
  • #103,420
  • Oct 23, 2011 7:50am Oct 23, 2011 7:50am
Quoting jarroo
How did I forget the confluences , . .Thanks Pb.

IBFX was right there too . .
I am sure you did not forget them but, just subconsciously recognized them for what they are.

I have noticed how you are using both the Monthly & weekly levels.

Looks like we may have a couple of weekly levels to watch out for on GU.
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