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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

  • #106,501
  • Jan 28, 2012 10:21am Jan 28, 2012 10:21am
Quoting beebolbod
hehe - i also marked this one last night....

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Quoting jarroo
Nice line up of LCS levels, beebo.

Price doesn't Close below it, still Support. . .Price Closes below it , could easily filp over to Resistance at that level.
Just as we predicted . . .right beebolbod? . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #106,502
  • Jan 28, 2012 10:44am Jan 28, 2012 10:44am
Quoting jarroo
No, I don't use the Close of the break through bar as a entry point . .just as a qualifying indication of the "flip".

Take the GbpJpy example . .We'll wait and see where the Daily closes today . .

Update . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #106,503
  • Jan 28, 2012 3:21pm Jan 28, 2012 3:21pm
Quoting aserbfx
ericsson breakout.
My Apologies Sir.
I always thought I had tossed my hat in your ring. I know you already have 10+ votes; well; now you have 10 + '+'.

btw. Has anyone ever counted the Methods that Aser is following & Posting?
I will say that when he Posts an ICCE view, I Verry Very Seldom disagree, And, I read them all.

Nice Work Aser. On all fronts.

B
  • #106,504
  • Edited 7:01pm Jan 28, 2012 6:31pm | Edited 7:01pm
Quoting jarroo
This is great Pinbar, I like how you keep things tight on the Hourly. Instead of going back and forth, its best to just step back and either wait for presentable PA, the next Daily Close or just do nothing and give it a pass.

I like how you're looking at consolidation builds at this level. .excellent . . . not only that, but other Price Pattern formations can be implimented at these levels.

This is why what Mike teaches us is so valuable. I know Mike prefers this Price Patterns formation at BRNs , but they can be used at these Deep Swing Points...

Jim

Thanks for your take on this and indeed as always, it is as Mike said, great to see how you are fitting all these pieces of the puzzle together in your own methodology. What can I say but, Simply Amazing!

My mind was doing the Whatootsie while watching the Hourly TF on that setup. You know, Bearish, Bullish, bearish No, bullish, LOL.

But that strong trend kept me looking for a bullish setup, just too bad it took so long and then stalled out. I don't like chasing these things.
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  • #106,505
  • Edited 8:55pm Jan 28, 2012 8:35pm | Edited 8:55pm
Quoting Pinbar
Jim

Thanks for your take on this and indeed as always, it is as Mike said, great to see how you are fitting all these pieces of the puzzle together in your own methodology. What can I say but, Simply Amazing!
It great having a lot of tools in your arsenal when the market is at key levels . .


Quoting Pinbar
My mind was doing the Whatootsie while watching the Hourly TF on that setup. You know, Bearish, Bullish, bearish No, bullish, LOL.
Yeah, I know what you mean . .lol. You would be surprise (or maybe you wouldn't), how you can trade back and forth at these levels because Price can run either way . .the trades go something like this: . . breakeven, -11 pips, - 7 pips, breakeven, -20 pips, +15 pips, +5 pips, +385 pips .. . . . .but was this HCR level the Highesssst Close of Resistance?? No. But a valid HCR level, nonetheless.

Quoting Pinbar
Jim

But that strong trend kept me looking for a bullish setup, just too bad it took so long and then stalled out. I don't like chasing these things.
Good eye Pinbar . . notice that Price didn't BAM!! downward, many times they do at deep HCR levels, even if they're short lived. This alone tells me that more upward movement is in the cards.

Indicators show the past. Price Action "Indicates" the future.
  • #106,506
  • Edited 7:57am Jan 29, 2012 1:31am | Edited 7:57am
Good Afternoon Jim and Mike,

Just found a pitbull pin on the GBP/JPY 4HR.

I also found myself staring at the screen for half an hour while eating two apples, thinking "hmm.... something about this pitbull setup really makes me uncomfortable", so I went a couple of timeframes higher and started making stories about the daily looking like a U-turn and the weekly looking clearly like it wants to re-test the previous dominant green candle before exploding on the upside like a decent V-shaped MACDH divergence.

There appears (or it feels) to be something that my eyes and brain's detecting that I can't quite verbalize but some unconcious or nano pattern that I've detected before that my body is responding to that's telling me that this thing wants to go lower?

Very interested to hear what you guys think
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  • #106,507
  • Jan 29, 2012 3:09am Jan 29, 2012 3:09am
italian autogrill with a nice trendline.
price already formed an indecision bar on the weekly on decreasing volume.
good r:r for shorts. ~7.25 eur as a target.
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meine augen sind die sterne
  • #106,508
  • Jan 29, 2012 3:17am Jan 29, 2012 3:17am
telecom italia on weekly.
the stock couldn't benefit of the good overall stock-markets.
weekly close below the support-area. high volume.
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meine augen sind die sterne
  • #106,509
  • Jan 29, 2012 8:22am Jan 29, 2012 8:22am
msm on weekly.
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meine augen sind die sterne
  • #106,510
  • Jan 29, 2012 8:29am Jan 29, 2012 8:29am
man on weekly.
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meine augen sind die sterne
  • #106,511
  • Jan 29, 2012 9:29am Jan 29, 2012 9:29am
Quoting aserbfx
man on weekly.
Good to see you posting Bro.

Refreshing.

Enjoy the song:

Inserted Video
  • #106,512
  • Jan 29, 2012 1:13pm Jan 29, 2012 1:13pm
Quoting Variance
Good Afternoon Jim and Mike,

Just found a pitbull pin on the GBP/JPY 4HR.

I also found myself staring at the screen for half an hour while eating two apples, thinking "hmm.... something about this pitbull setup really makes me uncomfortable", so I went a couple of timeframes higher and started making stories about the daily looking like a U-turn and the weekly looking clearly like it wants to re-test the previous dominant green candle before exploding on the upside like a decent V-shaped MACDH divergence.

There appears (or it feels) to...
Hey V

My two biggest issues with this bar are the close and time of day. The bar barely closed within the previous bar and it still has more of a bearish look. I don't think of a tail as a reversal sign unless the overall bar setup is strong. In this case coming so late in the day it could just be some profit taking and having the BRN of 120 hit some buy orders. This isn't a super strong sign to me to buy necessarily. Especially on an intraday trade at the very end of the week. Now the next bar won't break the high so for me the momentum is gone. I don't trade intraday late like that as then you have to deal with the weekend as well as the new views coming out of the weekend. 120 is a nice pivot to watch, but I would need more information. A stronger sign would have been if it closed bullish

Best
Mike
  • #106,513
  • Jan 29, 2012 3:47pm Jan 29, 2012 3:47pm
Quoting 5.25
I took this one too and worked out perfectly, zero draw down on entry. For me, the story AND LEVEL was stronger than the PB itself.

- 82.41 D1HCR was a clearly respected level
- Price attempted to break out but failed to close above
- Resistance still intact
- Sell on the retest on the following day,
- All out at FTA 81.48 (Clear consolidation box in left)
- Pip perfect stuff
Freaking awesome T . . what else can be said . .
Indicators show the past. Price Action "Indicates" the future.
  • #106,514
  • Edited 4:59pm Jan 29, 2012 4:33pm | Edited 4:59pm
Euro Weekly Lowest Close of Support . .Price Breaks Through & Closes Below . .nice level in either direction. . . but for now short.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,515
  • Edited 5:05pm Jan 29, 2012 4:54pm | Edited 5:05pm
Quoting Pinbar
Yes, it was a good area but, that is not why I commented on it.
The reason I commented on it was that, in my eyes it was not "Great Pa" but simply a tiny bar much smaller than the previous bullish bar. We are all saying the same thing here.
A bigger "nose" on the PB would have made it ideal . .totally a locational trade . Its a Monthly HCR with Monthly 150ema confluence. and three Daily HCR levels lining up on the Daily . .Strength.

Now if Price can Close above the level . .up we go, potentially. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #106,516
  • Jan 29, 2012 5:02pm Jan 29, 2012 5:02pm
Quoting Greenhaze
EU is going down becouse of obvious reasons hence market is selling off. Near the bootom everybody knows that europe is in danger and media shouts about the S&P downgrades and all the stuff. The smart money are liquidating their positions to retail traders who are thinking that price must come down becouse fundamentals are bad and all. Price starts to go higher. Brokers inventory and smart money is shifting to the long side but retail players are still willing to sell becouse price is high (they perceive it as an opportunity) and fundamentals are...
Hello Greenhaze

So you think 1,33 - 1,35 is the pivot zone from long to short on eur usd?

Probably I am one of the weak (but i am starting to thing that non that uninformed) hands, but my expectation for a turnning level was 1,33 too.

Lets see, your view is kind of my confirmation!!!

Best wishes

Hector
  • #106,517
  • Jan 29, 2012 5:31pm Jan 29, 2012 5:31pm
AUDCAD should provide some nice entries in the next days.
Last week just closed above a weekly resistance 1.0663 (cyan, dating 1996!) and above we have a confluence of:

- trend line started May 2011
- monthly resistance 1.0745 (purple)
- possibly, a shorter term trend line started on Dec 25, 2011.
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  • #106,518
  • Jan 29, 2012 6:08pm Jan 29, 2012 6:08pm
hey guys,
I've been MIA for more than a month, feeling rusty! My fxpro acct even got disabled as I haven't login for more than 30days (which i was not aware of since its not stated on the web). Now have to go thru whole process of setting it up again, grrrr

Hope to gain some momentum in the next few days, see u all around!
  • #106,519
  • Jan 29, 2012 6:10pm Jan 29, 2012 6:10pm
Quoting mbqb11
Hey V

My two biggest issues with this bar are the close and time of day. The bar barely closed within the previous bar and it still has more of a bearish look. I don't think of a tail as a reversal sign unless the overall bar setup is strong. In this case coming so late in the day it could just be some profit taking and having the BRN of 120 hit some buy orders. This isn't a super strong sign to me to buy necessarily. Especially on an intraday trade at the very end of the week. Now the next bar won't break the high so for me the momentum is...


Thanks Mike,

That's a lot of wizdom there!

I'm just curious though, if the same scenario was to occur on a Wednesday at around 10:05AM Eastern Time with a strong close and a strong follow through like this retouched version, would you take it? Will there be anything stopping you from taking it?
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  • #106,520
  • Jan 29, 2012 7:35pm Jan 29, 2012 7:35pm
Quoting Fx7877
hey guys,
I've been MIA for more than a month, feeling rusty! My fxpro acct even got disabled as I haven't login for more than 30days (which i was not aware of since its not stated on the web). Now have to go thru whole process of setting it up again, grrrr

Hope to gain some momentum in the next few days, see u all around!
No, you don't. You can just choose FILE then OPEN ACCOUNT, and make a new account. No need to re install the program or lose your charts. May have to slightly change the email address but maybe not with fxpro.
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