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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

  • #103,581
  • Oct 26, 2011 9:23am Oct 26, 2011 9:23am
Seeing an awful lot of this recently.
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  • #103,582
  • Oct 26, 2011 9:24am Oct 26, 2011 9:24am
Quoting Pinbar
Seeing an awful lot of this recently.
Tell me bout it
  • #103,583
  • Oct 26, 2011 9:24am Oct 26, 2011 9:24am
Quoting picon1
I'm good thanks lol

Just triggered on $CAD on a 50% retrace entry. Set my entry 20 pips above the RN at 1.0120. Stops below the low of the current 4H bar, so that's 1.0070 for me. Hope my timing isn't off on this one.

Got my first target at 0170 which is around a little pocket of resistance looking across the 1H and 4H chart.
You could try posting a chart!

I mean, we really have no idea what you are talking about, no time frame mentioned.
  • #103,584
  • Oct 26, 2011 9:35am Oct 26, 2011 9:35am
BAM!! Baby . .1.3975 . .150 confluence . .Daily LCS level, Lows lining up.
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Indicators show the past. Price Action "Indicates" the future.
  • #103,585
  • Oct 26, 2011 9:41am Oct 26, 2011 9:41am
Quoting jarroo
BAM!! Baby . .1.3975 . .150 confluence . .Daily LCS level, Lows lining up.
nice J!


Entries a plenty


Does this chart remind anyone of another chart I just posted. Same thing different pair, slightly different entry.
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  • #103,586
  • Oct 26, 2011 9:44am Oct 26, 2011 9:44am
Quoting Pinbar
You could try posting a chart!

I mean, we really have no idea what you are talking about, no time frame mentioned.
I've been trying to. I keep getting server overload though

DAILY
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4H
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1H
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  • #103,587
  • Oct 26, 2011 9:48am Oct 26, 2011 9:48am
There's also a rising wedge on the 4H, and a rising wedge on the weekly that still needs to complete downwards. where some have a target of way south
Mike
  • #103,588
  • Oct 26, 2011 9:49am Oct 26, 2011 9:49am
Quoting mbqb11
nice J!


Entries a plenty


Does this chart remind anyone of another chart I just posted. Same thing different pair, slightly different entry.
Deja Vu all over again. .

I did like this big Hourly BEOB on the Euro as an intra day trade. . one of the biggest (if not thee biggest) bars of recent price action, engulfing many bars. .

Your words come to mind . ."This has no other place to go but down" . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,589
  • Oct 26, 2011 9:53am Oct 26, 2011 9:53am
Quoting mbqb11
Entries a plenty
Mike, sorry, I am not following you. Could you explain the trade, please? Why did you go short on that particular bar? After moving out of the wedge, there were others that touched on 1.60. There were also two bars before that went below the sell limit. Has this to do with being a strong move (=huge candle body?)?

Thanks!
dkc
  • #103,590
  • Oct 26, 2011 9:56am Oct 26, 2011 9:56am
Quoting jarroo
Deja Vu all over again. .
I find it quite funny how often people are commenting like that and I myself have not the slightest idea of what's going on, no kidding, makes me smile every time
  • #103,591
  • Oct 26, 2011 9:59am Oct 26, 2011 9:59am
Quoting dropkick-cat
Mike, sorry, I am not following you. Could you explain the trade, please? Why did you go short on that particular bar? After moving out of the wedge, there were others that touched on 1.60. There were also two bars before that went below the sell limit. Has this to do with being a strong move (=huge candle body?)?

Thanks!
dkc
Hey DK

THis is a pinbar I am shorting off

Same situation as this trade I have been posting

http://www.forexfactory.com/showthre...35#post5053735


And here is a chart for you.



And a general note to all because I know people go crazy when things are moving these are INTRADAY charts I am posting

Please remember guys if you are not following post 1 about james16 min requirements you are doing yourselves a big disfavor
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  • #103,592
  • Edited 10:20am Oct 26, 2011 10:03am | Edited 10:20am
Quoting dropkick-cat
I find it quite funny how often people are commenting like that and I myself have not the slightest idea of what's going on, no kidding, makes me smile every time
You will find out soon enough as you continue to read and study this Thread . .and you will continue to smile . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,593
  • Oct 26, 2011 10:04am Oct 26, 2011 10:04am
Quoting jarroo
Deja Vu all over again. .

I did like this big Hourly BEOB on the Euro as an intra day trade. . one of the biggest (if not thee biggest) bars of recent price action, engulfing many bars. .

Your words come to mind . ."This has no other place to go but down" . .
yep it was pick your poison with this.

Just remember guys like my above post, PLEASE PLEASE stick to daily/weekly before moving to these intraday charts. I know things can get exciting but that is not what we do this for we do this to be smart and learn in the right way. This thread is HUGE but it will always be a safe haven for new traders first followed by "extras" that many of us share here.

A good day for reminders to treat this as a business

Mike
  • #103,594
  • Oct 26, 2011 10:10am Oct 26, 2011 10:10am
Jaroo, PB, Donkey..

Is one way of finding HCR and LCS by downloading all the (Daily..weekly depending on what you are looking at) data in excel and finding number of times a value occurs in three columns?
We might want to first round up/down all the numbers to nearest 10th pip.
Values with highest counts would be the areas to watch. Highest count would indicate that the given price is often likely to be the high,low,close of the day?
Trading is a test match not a Twenty20.
  • #103,595
  • Oct 26, 2011 10:11am Oct 26, 2011 10:11am
Quoting mbqb11
yep it was pick your poison with this.

Just remember guys like my above post, PLEASE PLEASE stick to daily/weekly before moving to these intraday charts. I know things can get exciting but that is not what we do this for we do this to be smart and learn in the right way. This thread is HUGE but it will always be a safe haven for new traders first followed by "extras" that many of us share here.

A good day for reminders to treat this as a business

Mike
Good comments Mike. Even if you are not a new trader like myself, but new to this way of trading. The breathing room that the daily and weekly allows you is invaluable.
  • #103,596
  • Oct 26, 2011 10:13am Oct 26, 2011 10:13am
Quoting decentchap
Jaroo, PB, Donkey..

Is one way of finding HCR and LCS by downloading all the (Daily..weekly depending on what you are looking at) data in excel and finding number of times a value occurs in three columns?
We might want to first round up/down all the numbers to nearest 10th pip.
Values with highest counts would be the areas to watch.
No, I wouldn't do it that way . . I would just pull up a chart . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,597
  • Oct 26, 2011 10:18am Oct 26, 2011 10:18am
Quoting mbqb11
Hey DK

THis is a pinbar I am shorting off

Same situation as this trade I have been posting

http://www.forexfactory.com/showthre...35#post5053735


And here is a chart for you.
Thanks a ton, Mike! That is very helpful, much appreciated! I see the PB + touching of the trendline now in the post before.

I am willing to stick to daily and weekly TF indefinitely, not in a hurry
  • #103,598
  • Oct 26, 2011 10:23am Oct 26, 2011 10:23am
Quoting jarroo
No, I wouldn't do it that way . . I would just pull up a chart . .
Thanks

I will do some exercises on this tonight and get back with some charts... I am really incouraged by PB's progress on this.

I am sure once i get proficient with drawing these levels, I will be able to incorpoate this in my daily-weekly bars trading.
Trading is a test match not a Twenty20.
  • #103,599
  • Oct 26, 2011 10:24am Oct 26, 2011 10:24am
GBPUSD we have a BEOB off 150 and 365 EMA off BRN of 1.6. Looking good for a short entry.

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  • #103,600
  • Oct 26, 2011 10:25am Oct 26, 2011 10:25am
Quoting decentchap
Thanks

I will do some exercises on this tonight and get back with some charts... I am really incouraged by PB's progress on this.

I am sure once i get proficient with drawing these levels, I will be able to incorpoate this in my daily-weekly bars trading.
Sure thing decentchap . .

Post a chart or two with a Daily and/or Weekly HCR/LCS levels and we can go over them . .they are very easy to spot . .
Indicators show the past. Price Action "Indicates" the future.
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