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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

  • #107,721
  • Feb 21, 2012 2:30am Feb 21, 2012 2:30am
[quote=beebolbod;5403368]
Quote
This is wound up very tightly....

I think the monthly chart gives us a better clue about what the price is doing.
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Nothing personal,just business
  • #107,722
  • Feb 21, 2012 2:37am Feb 21, 2012 2:37am
Quoting 5.25
For all you Hasselhoff fans...

EurHuf at an interesting level

Take note: Monster BEOB ahead
I have looked at this market and I think it's still too early to know what it'll do.

On the monthly chart, there are two big range markets.
The blue one would provide very strong support, the green one (it encloses the blue one even if I did not make them overlap to avoid a color mess) is also quite decent.

On the daily chart there's a bullish flag. If it closes above the purple monthly (M) support 286.49, the first target is BRN 300. If it closes above the M support 282.81 the first target is the dynanic trend line shown just above the flag.

Price could indeed break the supports and go down but as of now it's not confirmed.
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  • #107,723
  • Feb 21, 2012 3:29am Feb 21, 2012 3:29am
Quoting fxgroup

I think the monthly chart gives us a better clue about what the price is doing.
If i look at it like that there's no trade since May 2010 as it's basically sideways....

Or maybe its like this?...
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Which if we look back to the previous wedge breaking on daily with a bullish pin gave us a few hundred pips....
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I'm watching for now. It's a tricky pair.
  • #107,724
  • Feb 21, 2012 3:53am Feb 21, 2012 3:53am
BEOUB at decent level didn't break. Now we've broken through the recent support and lets see where from here... if it closes below and pulls back i'll enter short. Might have missed it though. Small divergence on MACD too.

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  • #107,725
  • Feb 21, 2012 4:19am Feb 21, 2012 4:19am
Hi,
please comment on this one.
We can have a possible 1.28 PBT&CB. First FTA is at 1.27.

Regards,
Peter

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  • #107,726
  • Feb 21, 2012 4:38am Feb 21, 2012 4:38am
Quoting trc
Hi,
please comment on this one.
We can have a possible 1.28 PBT&CB. First FTA is at 1.27.

Regards,
Peter

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I'm looking here too....

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  • #107,727
  • Feb 21, 2012 5:38am Feb 21, 2012 5:38am
I'd watch out for this area on the weekly TF, weekly HCR, BOX, 150 EMA on the FTB with 61.8 fibo confluence.

That gap has been long filled.
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  • #107,728
  • Feb 21, 2012 6:49am Feb 21, 2012 6:49am
Quoting Pinbar
I'd watch out for this area on the weekly TF, weekly HCR, BOX, 150 EMA on the FTB with 61.8 fibo confluence.

That gap has been long filled.
Zoom out being the lesson here.

It may well be rejecting off the Sept highs anyway to form a pin back above 1.28.... we shall see where it goes!
  • #107,729
  • Feb 21, 2012 6:59am Feb 21, 2012 6:59am
Quoting beebolbod
Zoom out being the lesson here.

It may well be rejecting off the Sept highs anyway to form a pin back above 1.28.... we shall see where it goes!
Zooming out?

The weekly TF seems to be the key.
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  • #107,730
  • Feb 21, 2012 7:22am Feb 21, 2012 7:22am
Quoting beebolbod
If i look at it like that there's no trade since May 2010 as it's basically sideways....

Or maybe its like this?...
Attachment

Which if we look back to the previous wedge breaking on daily with a bullish pin gave us a few hundred pips....
Attachment

I'm watching for now. It's a tricky pair.
Hey B

Actually this is not a tricky pair cause you guys nailed it. We know in some form we are sideways or consolidating. That is probably the most important information you can recognize here and then things don't become so tricky

Tricky to trade only if you don't know what the environment is when trading, or when to avoid. But you got it perfect.

Here is my chart though on this consolidation.

Good job
Mike
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  • #107,731
  • Feb 21, 2012 7:31am Feb 21, 2012 7:31am
Quoting Pinbar
Zooming out?

The weekly TF seems to be the key.
sure is the key

http://www.forexfactory.com/attachme...0&d=1329331038
  • #107,732
  • Feb 21, 2012 7:36am Feb 21, 2012 7:36am
Touch trade on confluence of trendline and ppz .
Just practicing this little more aggressive point of view Inspired of James's charts few days ago
Nice !
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  • #107,733
  • Feb 21, 2012 7:58am Feb 21, 2012 7:58am
Quoting Rust
Touch trade on confluence of trendline and ppz .
Just practicing this little more aggressive point of view Inspired of James's charts few days ago
Nice !
i want to start trading like that....
  • #107,734
  • Feb 21, 2012 8:04am Feb 21, 2012 8:04am
Quoting Variance

I'd like to know if anybody can truly recommend a "reliable" CFD broke.r?
Hi Variance!
Have you heard about IG Markets? http://www.igmarkets.com/
I'm going to try them. No experience with them yet, but I read some reviews, they were good. And so far I like what I saw.
Also they've got demo
  • #107,735
  • Feb 21, 2012 8:05am Feb 21, 2012 8:05am
Quoting Variance
i want to start trading like that....
Me too
  • #107,736
  • Feb 21, 2012 8:17am Feb 21, 2012 8:17am
Quoting mbqb11
sure is the key

http://www.forexfactory.com/attachme...0&d=1329331038
How would you approach this Mike?

Look for a pattern on the lower tfs?
  • #107,737
  • Feb 21, 2012 8:19am Feb 21, 2012 8:19am
Quoting heebbyjeeby
How would you approach this Mike?

Look for a pattern on the lower tfs?
Hey Heebby

That chart above is how I would approach it.

We have price consolidating down with a PPZ running through the middle(blue area).

You can trade the midpoint PPZ(difficult because you are in a consolidating pattern and most people forget how important trouble areas become). You can also trade bounces away from the outside of the pattern(the orange trendlines). Or you can do my favorite which is look for breakouts away from the pattern. That's what I am watching for , from a weekly perspective.

Hope that helps
Mike
  • #107,738
  • Feb 21, 2012 8:19am Feb 21, 2012 8:19am
Quoting Rust
Touch trade on confluence of trendline and ppz .
Just practicing this little more aggressive point of view Inspired of James's charts few days ago
Nice !
that's great confluence James would smile
  • #107,739
  • Feb 21, 2012 8:23am Feb 21, 2012 8:23am
Quoting mbqb11
Hey Heebby

That chart above is how I would approach it.

We have price consolidating down with a PPZ running through the middle(blue area).

You can trade the midpoint PPZ(difficult because you are in a consolidating pattern and most people forget how important trouble areas become). You can also trade bounces away from the outside of the pattern(the orange trendlines). Or you can do my favorite which is look for breakouts away from the pattern. That's what I am watching for , from a weekly perspective.

Hope that helps
Mike
chart


*weird i keep having to go back to reupload charts
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  • #107,740
  • Feb 21, 2012 8:28am Feb 21, 2012 8:28am
Quoting mbqb11
sure is the key

http://www.forexfactory.com/attachme...0&d=1329331038
That's my mistake. I have the same drawn on my weekly chart (that's the red line on my posted daily chart) but i've drawn a line rather than a zone.

So with this in mind, we can look to play away from this zone depending on (as always) PA?

Or should it just be left well alone? The area has consistently had decent reactions one way or another.
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