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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

  • #107,381
  • Feb 15, 2012 10:24am Feb 15, 2012 10:24am
Quoting biDc
A few pinbars about to form across H4 charts of several pairs. This one is my favorite of those.
That was nice 4 Hour PB diDc . .I did like the higher time frame level (location) that it sat on . . Size could have been bigger . . good Space (Swing Low) . .and it hit your target nicely . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,382
  • Feb 15, 2012 10:30am Feb 15, 2012 10:30am
Quoting biDc
Look how much this pair offered the past week.

This stuff definitely works. That's why I'm learning it.
Wow . .this is how we practise . . . .reading Price like a book.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #107,383
  • Feb 15, 2012 10:33am Feb 15, 2012 10:33am
Quoting beebolbod
Nice 1 Jim..... amusingly/annoyingly for me i've been watching this grow for ages now, months in fact, and the day it decides to perform i'm on a short holiday with only my iphone to trade on a shoddy connection.

Needless to say that after all that watching and waiting i missed the best part of it. I actually re-entered and made my stop too small so got taken out for a loss on this, despite having it lined up to perform just as you show on your charts.... grrr.

I think there's many lessons to learn for me here but the one i'm taking as the most...

Nice post beebo . . .there are many many more just like this one just around the corner . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,384
  • Feb 15, 2012 10:38am Feb 15, 2012 10:38am
Quoting jarroo
Nice post beebo . . .there are many many more just like this one just around the corner . .
The PB forming short on CADJPY daily in the opposite direction being one of them perhaps.... if it closes a little more bearish than now i'd take it.
  • #107,385
  • Feb 15, 2012 10:44am Feb 15, 2012 10:44am
Quoting jarroo
Just remember . . . Patience Pays.

Patience is probabaly the number one characteristic a trader has to have . Jim
This is really hard to acquire. I'm battling with this at the moment. It'll come i'm sure, but for now i struggle on.
Really enjoy it though.... addicted somewhat
  • #107,386
  • Feb 15, 2012 10:49am Feb 15, 2012 10:49am
Quoting beebolbod
The PB forming short on CADJPY daily in the opposite direction being one of them perhaps.... if it closes a little more bearish than now i'd take it.
Hell ya . .beebo . . .The 79.00-78.82 is a great Monthly /Weekly level

Hit that 79.00 . . to the pip !! well almost 79.03 . . .but anyway . .Bam!!


If price gets some Closes above this level . .look out . .
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Indicators show the past. Price Action "Indicates" the future.
  • #107,387
  • Feb 15, 2012 10:52am Feb 15, 2012 10:52am
Quoting beebolbod
This is really hard to acquire. I'm battling with this at the moment. It'll come i'm sure, but for now i struggle on.
Really enjoy it though.... addicted somewhat

You just work at getting better at it . .I'm no different . .you practise at it and little by little you get better and better at it .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #107,388
  • Feb 15, 2012 11:01am Feb 15, 2012 11:01am
Quoting mbqb11
You will feel 'lucky' the more you do this

Good job Rust, nice clean charts, with logical clean areas

I like

Mike
Thanks Mike ,
I have researched some of your methods for the last few months . Starting to apply them here and there . They work great so far and i am very happy
  • #107,389
  • Feb 15, 2012 11:14am Feb 15, 2012 11:14am
This is doing something now... been watching this for some time.... the box should act as support if it closes above. The BRN is a little close but..... we shall see if anything worth looking at later....
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  • #107,390
  • Feb 15, 2012 11:27am Feb 15, 2012 11:27am
Quoting jarroo
That was nice 4 Hour PB diDc . .I did like the higher time frame level (location) that it sat on . . Size could have been bigger . . good Space (Swing Low) . .and it hit your target nicely . .
Took half profit and tightened stop when FTA was reached. Will see how this continue to play out.

Another trade I took this morning

Edit**BEOB not BUOB
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  • #107,391
  • Feb 15, 2012 11:48am Feb 15, 2012 11:48am
If you are new and struggling with location, start off easy. Look for clear tops and bottoms and watch price when it gets there

Here is a clear bottom off a nice BRN. It's a perfect area to watch for more clues

and yes trading does NOT have to be more complicated then this
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  • #107,392
  • Feb 15, 2012 12:30pm Feb 15, 2012 12:30pm
Nice level to watch, ideally for PBTCB on daily. Waiting....
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  • #107,393
  • Feb 15, 2012 12:37pm Feb 15, 2012 12:37pm
Quoting beebolbod
Nice level to watch, ideally for PBTCB on daily. Waiting....
Attachment

Attachment
I'll be watching the aud/nzd as well

Here is my chart. Notice the big old PPZ running through the middle of consolidation(where you are looking).

I'll be watching the BRNs on either side
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  • #107,394
  • Feb 15, 2012 12:45pm Feb 15, 2012 12:45pm
eurusd, could get a close below the RN of 1.31 and also close below this PPV, if this is the case i will be watching for a retrace back to the ppv turning into resistence
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  • #107,395
  • Feb 15, 2012 12:50pm Feb 15, 2012 12:50pm
well if you guys remember, i entered audjpy a while ago from the BUOB highlighted in blue, and what a ride ive had, i been moving my SL up everytime it broke a Trouble area, i could finally get taken out today for +210 pips or so, not bad at all
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  • #107,396
  • Feb 15, 2012 12:59pm Feb 15, 2012 12:59pm
if it closes as a pin, who'll take it?

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  • #107,397
  • Feb 15, 2012 1:20pm Feb 15, 2012 1:20pm
Hey guys,

Am trying to get the story behind bars right. Cos that would help me in understanding how price reacts to levels.

In the chart below; I reasoned Bar 1 broke thru the 123.0 BRN and retraced immediately(more than half its length) due to SLs triggered.

Bar 2 broke thru again triggering more SLs, retraced(but not like Bar 1) and closed just above the BRN. Hinting demand is waning around this area.

Bar 3 broke the BRN and closed a pipet below the BRN. Kinda signaling that most of the SL below the BRN has been hit and there is little or no more demand as indicated in the next bar.

**Am I interpreting this correctly guys?**

Thank you.
Attached Image (click to enlarge)
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SNR with Price Action...
BitCrossNG Return Today: na
  • #107,398
  • Feb 15, 2012 1:30pm Feb 15, 2012 1:30pm
Quoting deankenny21
well if you guys remember, i entered audjpy a while ago from the BUOB highlighted in blue, and what a ride ive had, i been moving my SL up everytime it broke a Trouble area, i could finally get taken out today for +210 pips or so, not bad at all
if this 4hr bar can stay above and close above this PPV on the 4hr and daily i will stay in this trade, if not then i will close out for a handsome profit.
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  • #107,399
  • Edited 1:34pm Feb 15, 2012 1:31pm | Edited 1:34pm
Quoting deankenny21
well if you guys remember, i entered audjpy a while ago from the BUOB highlighted in blue, and what a ride ive had, i been moving my SL up everytime it broke a Trouble area, i could finally get taken out today for +210 pips or so, not bad at all

Nice trade Dean...+210pips? That's gotta break a fat smile

Just to add BUOC formed at swing high on the AUD/JPY H4 already at FTA. Don't think it has the strength to go below 83.21 in that box.....

Tanks for the charts.
Attached Image (click to enlarge)
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SNR with Price Action...
BitCrossNG Return Today: na
  • #107,400
  • Feb 15, 2012 1:35pm Feb 15, 2012 1:35pm
Quoting Fxnumen
Nice trade Dean...+210pips? That's gotta break a fat smile

Just to add BUOC formed at swing high on the AUD/JPY H4 already at FTA. Don't think it has the strength to go below 83.21 in that box.....

Tanks for the charts.
yes there was a BEOB on the 4hr audjpy that did exactly as planned if you traded it. As expected it is at the FTA, now its just a matter of patience to see what price action tells us, there are buyers showing up down at that 83.70 area, but how strong they are we dont know, so we do what we do and wait for price action to guide us, in my case i hope it holds and moves further up
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