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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

  • #105,641
  • Jan 6, 2012 8:13pm Jan 6, 2012 8:13pm
Quoting mbqb11
Hey Rian

We have another member who works on yachts! Funny enough to me that's a cool job

I think the best way is to take things slow. Conquer demo, move to a SMALL real live account and slowly build that account and gain confidence. I think to many go from demo to a big account and blow out their emotions(and or skip over demo which is even worse).

Slow and steady and simple are the best things I know of after a decade

Have a great weekend and welcome to the thread
Mike
I am new here but I actually took the aud/usd trade yesterday on the inside bar I saw on the daily. Worked out so far + 60 pips so far

Any feedback will be appreciated

Thanks!!
"Greed is good,greed is right,greed works"
  • #105,642
  • Jan 6, 2012 9:23pm Jan 6, 2012 9:23pm
Quote
hawaii5000
Member

http://www.forexfactory.com/images/icons/icon1.gif NU - possible short for next week?
Looks to be rolling over on Daily and Weekly - will see how PA reacts below support?
Edit - I mean AUD/NZD
Nice Chart Hawaii5000.
I also like the fact, that there is 50% Fib confluence @ the support area 1.3050
  • #105,643
  • Jan 6, 2012 9:36pm Jan 6, 2012 9:36pm
There is s DBHLC on weekly EUR/USDwith a 6 pip difference, which I believe is ok for a weekly chart.

Last week high - 1.3082
This Week High - 1.3076

I like this DBHLC bar, the reason being it broke the lows formed on 04/24/09, 01/14/11, 12/30/11
Other than that what I am really concerned about is the very near FTA's formed by the lows on 09/10, 09/03, 08/27.

I will be watching these areas as the price could be testing these levels next week

Any comments are welcome

Thanks
vyky
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD WEEKLY 01062011.GIF Size: 63 KB
  • #105,644
  • Jan 6, 2012 9:49pm Jan 6, 2012 9:49pm
Here is the chart for the Daily AUD/NZD.

Also want to mention that the price is in a range between 38.2% and 50% fib. So possible scenarios could be that price could breakout on either side.

Thanks Hawai for showing this setup.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD DAILY 01062011.GIF Size: 61 KB
  • #105,645
  • Jan 6, 2012 10:02pm Jan 6, 2012 10:02pm
I like the EURCHF Daily Chart which has formed a 4BH around 1.2195~1.2197 area for the last 4 days.
If it breaks to the upside, what I don't like is the nearby FTA's @ 1.2221, 1.2235, 1.2241
I will be watching how price behaves in these area. Any comments are welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF DAILY 01062011.GIF Size: 59 KB
  • #105,646
  • Jan 6, 2012 10:24pm Jan 6, 2012 10:24pm
Hi J16ers,

The AUDCAD has made a BUOB on the daily chart and closed above 1.5000 and this area is a very good resistance for a long period of time. Eventhough the BUOB looks very tempting and there is a lot of space above for the price to play around, I am really concerned about the bar highs formed during the period from 10/24 to 11/08. Because of these bars, I have a feeling that the price might be going into traffic.

I would like to get some comments from the seniors on this thread regarding this setup. Also if you plan to take this one, how would you manage it.

Thanks
vyky
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD DAILY 01062011.GIF Size: 62 KB
  • #105,647
  • Jan 6, 2012 10:41pm Jan 6, 2012 10:41pm
I like the 4HR box formed on the GBPAUD.
But there is an immediate FTA @ 1.5029 and also on the daily chart there is a strong support @ 1.5000 (VBRN).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPAUD 4HR 01062011.GIF Size: 41 KB
Click to Enlarge Name: GBPAUD DAILY 01062011.GIF Size: 57 KB
  • #105,648
  • Jan 6, 2012 11:02pm Jan 6, 2012 11:02pm
On the other hand looking at the Weekly chart for GBPAUD, if the price breaks below 1.5000, there could be a very good possibility that price could be testing the lows @ 1.4760
In that case, we need to look for a PA in the downward direction around 1.5000

Any feedback is appreciated.

vyky
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD WEEKLY 01062011.GIF Size: 52 KB
  • #105,649
  • Jan 6, 2012 11:09pm Jan 6, 2012 11:09pm
Quoting AvanishDemo
Long way to swim..but i see it coming..


most probably my next hunt will be @ 0.94..

lets see if we reach that coast!
finally it arrives..but it missed my entry.
sell limit was set @ 0.9385 but it never got ticked..

a tiny tiny BEOB on Daily..can suggest that it can give a bearish retrace before making a move up.
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  • #105,650
  • Jan 7, 2012 12:05am Jan 7, 2012 12:05am
Quoting riandouma
Thanks Mike

I always tell myself if I can´t look after a $1000 account, I can´t look after a million. It´s just a bit daunting!
Guess you have to crawl first before you can walk!!
You are dead on, but it's just something we learn to deal with. I am still very much growing as a trader. But I think the fact that I am focused on slow and steady and not trying to push my comfort zones to far that it gives me time to slowly adjust over time. I would also say my past experiences in other similar type business has helped curb that emotional attachment, but I think that most people can learn to over come it. It's just not something that happens over night.

crawl before we walk is a great way to look at it

Keep us posted!
Mike
  • #105,651
  • Jan 7, 2012 12:19am Jan 7, 2012 12:19am
Quoting Gekko78
I am new here but I actually took the aud/usd trade yesterday on the inside bar I saw on the daily. Worked out so far + 60 pips so far

Any feedback will be appreciated

Thanks!!
Hey G

Inside bars are tricky. I personally think they are the more difficult bars to learn when starting out. I don't trade many myself these days. In this case this inside bar could potentially be straddled(a buy or a sell) BUT there isn't a ton of info(or confluence/story). So for that reason we should be looking towards our FTA(first trouble areas) if we want to play such a bar. IN this case to the downside would be the previous bar low. After that, it's sort of in the markets hands. I prefer to play inside bars of VERY clear support and resistance areas. Especially on top of "boxes" or former breakout areas playing them AWAY from that area. Here are a few charts(first one is to show how the aud/usd is sort of in no mans land. The others are just some basic examples of inside bars that I prefer to look at). A good place to look is start looking for "boxes" They can be small or big. I used a bigger box to make it more obvious. We always want to look for stories. That's my focus

Hope this helps
Mike
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  • #105,652
  • Jan 7, 2012 2:01am Jan 7, 2012 2:01am
Quoting vyky
There is s DBHLC on weekly EUR/USDwith a 6 pip difference, which I believe is ok for a weekly chart.

Last week high - 1.3082
This Week High - 1.3076

I like this DBHLC bar, the reason being it broke the lows formed on 04/24/09, 01/14/11, 12/30/11
Other than that what I am really concerned about is the very near FTA's formed by the lows on 09/10, 09/03, 08/27.

I will be watching these areas as the price could be testing these levels next week

Any comments are welcome

Thanks
vyky
hi vyky,
please be aware that we need these bars at a certain location.
a dbhlc has to be in a major downtrend at a swing high.

eur/usd is in a downtrend and near a ppz. please be carefull.
meine augen sind die sterne
  • #105,653
  • Jan 7, 2012 2:12am Jan 7, 2012 2:12am
Quoting aserbfx
hi vyky,
please be aware that we need these bars at a certain location.
a dbhlc has to be in a major downtrend at a swing high.

eur/usd is in a downtrend and near a ppz. please be carefull.
here we got verizon on weekly.

a beob in an uptrend (bad) at a ppz (good) :-)

a week ago it crossed the ppz on ultra-low volume (not shown on the chart because gci volume is sh*t). a really strong signal that these breakout will fail.
this beob has high volume meaning that sellers stepped in.
i will never trade this beob because it is right near the ppz at about 38 usd.

very interesting chart btw.
Attached Image (click to enlarge)
Click to Enlarge Name: vz4.gif Size: 23 KB
meine augen sind die sterne
  • #105,654
  • Jan 7, 2012 4:04am Jan 7, 2012 4:04am
this may seem like an idiotic question. But how does one post charts? I would like to post an esignal chart. Is it just a question of expanding the image along all screens and doing a screen shot. Again many thanks
  • #105,655
  • Jan 7, 2012 5:22am Jan 7, 2012 5:22am
Quoting Bear_Bull
this may seem like an idiotic question. But how does one post charts? I would like to post an esignal chart. Is it just a question of expanding the image along all screens and doing a screen shot. Again many thanks
Check first if there is a way to capture the chart in esignal.

If not, take a screen shot as you said, edit it in some sort of graphics software if you can (paint, pain.net, photoshop, paint shop pro etc. plenty of free ones out there).

Then simply upload the image by clicking 'Manage Attachments' button underneath the text box, when replying to a thread.

Alternatively, you can host the image with an online host and add it to your post that way.
  • #105,656
  • Jan 7, 2012 6:29am Jan 7, 2012 6:29am
Thanks a lot.

I have downloaded photoshop. Once you do a screenshot do you need to save it as a picture or something? I have saved it in Word but I'm not sure that the program will recognise it

Quoting Sgrb1
Check first if there is a way to capture the chart in esignal.

If not, take a screen shot as you said, edit it in some sort of graphics software if you can (paint, pain.net, photoshop, paint shop pro etc. plenty of free ones out there).

Then simply upload the image by clicking 'Manage Attachments' button underneath the text box, when replying to a thread.

Alternatively, you can host the image with an online host and add it to your post that way.
  • #105,657
  • Jan 7, 2012 8:21am Jan 7, 2012 8:21am
Quoting Bear_Bull
Thanks a lot.

I have downloaded photoshop. Once you do a screenshot do you need to save it as a picture or something? I have saved it in Word but I'm not sure that the program will recognise it

I take it you are not using Metatrader 4?

What operating system are you using on your computer, if you are using windows, you can do it all in paint as I do.

Let me know the answer to these questions and I will post how to do these things.

And last but not least, welcome.
  • #105,658
  • Edited 9:43am Jan 7, 2012 9:21am | Edited 9:43am
swiss zurn on weekly may show some retracement here. volume is already drying up.

and for the "hcr lcs guys" :-) : lcs and the last weekly bar high were just 0,40 chf away.
Attached Image (click to enlarge)
Click to Enlarge Name: ZURICH FINANCIAL N.png Size: 13 KB
meine augen sind die sterne
  • #105,659
  • Jan 7, 2012 9:40am Jan 7, 2012 9:40am
Quoting Bear_Bull
Thanks a lot.

I have downloaded photoshop. Once you do a screenshot do you need to save it as a picture or something? I have saved it in Word but I'm not sure that the program will recognise it
1.You push printscreen button to copy desktop You want to share here.
2. In Photoshop You press File>New or Ctrl+N and it will open You new blank white document, in which You press Ctrl+V to paste Your caption.
3. After that You can edit, crop or add some text to Your image.
4. Now You go File>Save for web and Devices... and save Your image as jpg or gif (image size no bigger than 1500x1500 px) to Your desktop or wherever You choose.
5. Now You can attach it while posting in this forum... hope You know how.
all is eternal - this is good news for people who loves bad news
  • #105,660
  • Jan 7, 2012 10:11am Jan 7, 2012 10:11am
Quoting vyky
I like the EURCHF Daily Chart which has formed a 4BH around 1.2195~1.2197 area for the last 4 days.
If it breaks to the upside, what I don't like is the nearby FTA's @ 1.2221, 1.2235, 1.2241
I will be watching how price behaves in these area. Any comments are welcome.
Hi vyky
My thoughts are on the chart.
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Nothing personal,just business
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