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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

  • #103,721
  • Oct 28, 2011 1:37pm Oct 28, 2011 1:37pm
Quoting Pinbar
Interesting close on GU

Looks like we have a great area for a some bullish PA at the pullback.
Are you talking about the 1.6132 (FxPro feed)?

Great place to take a touch for a bounce or look for some strong bearish PA ..

A Close Above this level looks good for longs, bullish PA would be nice . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,722
  • Oct 28, 2011 1:42pm Oct 28, 2011 1:42pm
Quoting Pinbar
Great stuff Jarroo.
That was Donkey's eye that saw that one . . I just followed along . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,723
  • Edited 2:47pm Oct 28, 2011 1:45pm | Edited 2:47pm
Quoting Fx7877
Jarroo,
-With this example, there are 2 trades to be taken here,both with the bars highlighted in light blue right?

-Someone asked you abt SL earlier. My question abt SL is how tight do u typically keep it at? Is it always no more than 25-30pips regardless of the TF?

-On entry: Do u buy at the EXACT HCR or when it comes close to say 5-10pips within HCR as price sometimes comes close by dont touch before turning. What's your buffer?

-Do u set a buy stop/ sell stop for such entries?
Quoting decentchap
In terms of entry you should wait for PA bar and dont have to take touch entry at 1.74 but at the break of pin on 1 hour and use 1.74 to hide your stop as The pin confirms 1.74 role as support.
Apart from PA if you have other confluences, it will add to probability of trade working out.
For profit taking, you need to define your own FTA and take one of the steps when it hits as per James's this is critical..
If the trade is still going in your direction.I guess you can use LCS..HCR levels and/or two bar highs/lows etc..
this is my understanding...

I couldn't have answered that any better, decentchap. thanks . .
Indicators show the past. Price Action "Indicates" the future.
  • #103,724
  • Oct 28, 2011 2:01pm Oct 28, 2011 2:01pm
Quoting Fx7877
Jarroo,
Just want to clarify that you use a CLOSE instead of a BREAK to determine whether u stay in the trade or not? However, sometimes a bar can be huge, wouldn't waiting for the close means a bigger loss? Sorry I've been asking you alot of questions, hope u don't mind
Well yes the S/L amounts can be bigger put they still will be 1% to 2% of my account . .meaning if I have a 25 pip S/L or a 50 pip S/L they both represent 2% of my account.

Take the Aud/Usd example. A long and a short. I will place my S/L Above or Below these previous HCR/LCS levels for my hard S/L.

The magenta lines represent the Swing High/Low and their HCR/LCS level. These are secondary HCR/LCS for my S/L placements. The magenta "X" is where I would place my S/L.

The S/L placements may be 25 to 50 Pips away but they all represent 2% of my account. Now if I get a Hourly or 4 Hour close Above or Below my entry (short or long, respectively) I may be out for a much smaller loss, percentage wise.
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Indicators show the past. Price Action "Indicates" the future.
  • #103,725
  • Oct 28, 2011 2:07pm Oct 28, 2011 2:07pm
Quoting Fx7877
Jarroo,
In the AUDUSD eg that u gave here http://www.forexfactory.com/attachme...2&d=1319730211 where the 2 HCR lines and the bars high line (green one) are quite close, u will wait for the bar to PBT & CA the HIGHEST line?

Probably I would wait for a strong Close above those two levels. But as long as there is a Close above the HCR level, its valid.
Indicators show the past. Price Action "Indicates" the future.
  • #103,726
  • Oct 28, 2011 2:29pm Oct 28, 2011 2:29pm
Quoting ydaudw
Hi Guys, been reading this thread for a while
This is my first chart about LCS, HCR and PPZ.
Price likely will rectrace to previous LCS at 1.0428 and 1.03253, before continue its next run to next HCR at 1.0934?

Is this how I should play it?

Attachment
Looks good, ydaudw . .and welcome to the thread (officially)

Yes I would look for some bullish PA at that level.

Looks like you missed this one the Weekly. .chart.

Price almost retraced to that weekly HCR level but hit the minor Daily HCR instead . .I know my feed is different than yours ..
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Indicators show the past. Price Action "Indicates" the future.
  • #103,727
  • Oct 28, 2011 5:18pm Oct 28, 2011 5:18pm
Quoting Greenhaze
Some pattern freaks might love it
http://www.youtube.com/watch?v=hWGUnrIiOoI
I think I saw some fibs in there GH . . .




http://www.wimp.com/naturenumbers/




Jim
Indicators show the past. Price Action "Indicates" the future.
  • #103,728
  • Oct 28, 2011 6:29pm Oct 28, 2011 6:29pm
Quoting jarroo
Are you talking about the 1.6132 (FxPro feed)?

Great place to take a touch for a bounce or look for some strong bearish PA ..

A Close Above this level looks good for longs, bullish PA would be nice . .
Yes, that is the rough area I was thinking about.

Certainly made a bold break of the 1.6000 which at some stage may be a great springboard area for the FTB to the EMAs.
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  • #103,729
  • Oct 29, 2011 12:05am Oct 29, 2011 12:05am
Quoting Greenhaze
Some pattern freaks might love it
nice video.

im a freak, not a pattern
btw, i cant trade it, too much whipsaw


happy weekend everyone
  • #103,730
  • Oct 29, 2011 2:04am Oct 29, 2011 2:04am
Quoting aserbfx
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.
very obeying...
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meine augen sind die sterne
  • #103,731
  • Edited 4:54pm Oct 29, 2011 4:09am | Edited 4:54pm
Quoting jarroo
I think I saw some fibs in there GH . . .

http://www.wimp.com/naturenumbers/

Jim
Are you suggesting that we are all in one way or another governed by fibs?

There is something in this methodology I like Jim. Gold is respecting the daily LCS. A TT at 1630.10 looks tempting.

I have opened a dedicated sub account to this approach, lets see what comes out of it...

Have a good weekend all

Edit: Correction, 1683.10 not 1630.10
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  • #103,732
  • Oct 29, 2011 4:17am Oct 29, 2011 4:17am
Quoting Greenhaze
Some pattern freaks might love it
http://www.youtube.com/watch?v=hWGUnrIiOoI
Try this one for repetitive, urban, patternology Fibs optional.

Inserted Video
  • #103,733
  • Oct 29, 2011 9:17am Oct 29, 2011 9:17am
Quoting supremeChaos
nice video.

im a freak, not a pattern
btw, i cant trade it, too much whipsaw


happy weekend everyone
I thought it would be a happy weekend too

Then someone brought a blizzard to NYC.......


PLEASE NOT SNOW YET
  • #103,734
  • Oct 29, 2011 10:04am Oct 29, 2011 10:04am
Quoting aserbfx
cri on weekly and monthly.
enter long above 35.40 usd.
ah, ok
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meine augen sind die sterne
  • #103,735
  • Oct 29, 2011 2:11pm Oct 29, 2011 2:11pm
Quoting Pinbar
Yes, that is the rough area I was thinking about.

Certainly made a bold break of the 1.6000 which at some stage may be a great springboard area for the FTB to the EMAs.
Yeah, I agree Pb. The 1.6 has some multi confluences there with a bit of a HCR level. Any retracement back down there is on my watch list . .
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Indicators show the past. Price Action "Indicates" the future.
  • #103,736
  • Oct 29, 2011 2:17pm Oct 29, 2011 2:17pm
Tinkering around... Is the weekly chart to daily chart transition correct?
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  • #103,737
  • Oct 29, 2011 2:28pm Oct 29, 2011 2:28pm
Quoting mbqb11
I thought it would be a happy weekend too

Then someone brought a blizzard to NYC.......


PLEASE NOT SNOW YET
I wont forget the last winter here in Sweden. It was almost 6 month long and snow was falling day after day making this thick layer of frozen white mass ... I see you've got battlefield 3 which i am planning to buy aswell..... It looks really good and it may be good for those cold snowy evenings.

gh
  • #103,738
  • Edited 2:49pm Oct 29, 2011 2:29pm | Edited 2:49pm
Quoting 5.25
Are you suggesting that we are all in one way or another governed by fibs?

There is something in this methodology I like Jim. Gold is respecting the daily LCS. A TT at 1630.10 looks tempting.

I have opened a dedicated sub account to this approach, lets see what comes out of it...

Have a good weekend all
Lol . .well I am in the intelligent design camp. . ..isn't survival of the fittest a design? . .I don't know if fibs are part of that . .lol . .maybe.


Anyway . .

The metals like the Highs and Lows exspecailly when their moving strong or trending . .

TT at the 1750.00 was good for a nice bounce. . .sometimes a bounce can lead to a jump. .that could lead to a trend change . . .

1630.10?? Do you mean the 1683.0. HCR level ..Yes I can see price returning to test that level that is now Support.
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Indicators show the past. Price Action "Indicates" the future.
  • #103,739
  • Oct 29, 2011 2:30pm Oct 29, 2011 2:30pm
Quoting 5.25
Try this one for repetitive, urban, patternology Fibs optional.

http://www.youtube.com/watch?v=5WaoImXPMtE

Cool video. Somehow reminds me of the Inception movie
  • #103,740
  • Oct 29, 2011 2:39pm Oct 29, 2011 2:39pm
Quoting 5.25
Are you suggesting that we are all in one way or another governed by fibs?

There is something in this methodology I like Jim. Gold is respecting the daily LCS. A TT at 1630.10 looks tempting.

I have opened a dedicated sub account to this approach, lets see what comes out of it...

Have a good weekend all

I do like taking these higher time levels down to the lower time frames for TT or for proper PA . .

Check out this Weekly Silver chart . .Looking at this blue area at the Weekly LCS level it doesn't look like there was any bearish movement since PBT&CB it.

But if you look on the lower TFs there was some points to be made on a TT (or PA) at that level . .
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Indicators show the past. Price Action "Indicates" the future.
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