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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

  • #107,761
  • Edited 4:05am Feb 22, 2012 3:07am | Edited 4:05am
Quoting smozmo
This look interesting, lets see...
Hi Smozmo,
I don't believe that your trendline really matters. In such consolidation range I don't dare to take a touch trade on a top or bottom without a strong confluence....or a price confirmation.
Here is how I see it. Not for me to trade. (but, it's about a personal approach)
Good luck!
P.
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  • #107,762
  • Feb 22, 2012 3:22am Feb 22, 2012 3:22am
Quoting Pumlitch
Hi Smozmo,
I don't believe that trendline really matters. In such consolidation range I don't dare to take a touch trade on a top or bottom without a strong confluence....or a price confirmation.
Here is how I see it. Not for me to trade. (but, it's about a personal approach)
Good luck!
P.
Attachment
Hey Pumlitch thanks for comment, look at weekly tf is very strong resistance also at BRN who is 0.84 market respect that level there is fib confluence too and is at top of box
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #107,763
  • Feb 22, 2012 3:37am Feb 22, 2012 3:37am
Quoting smozmo
This look interesting, lets see...
Hey smozmo ,
I am also new to the touch trading concept . This scenario makes more sense to me . Not that yours is bad , but your trendline doesn't carry much weight in my view .
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  • #107,764
  • Feb 22, 2012 4:16am Feb 22, 2012 4:16am
Quoting Rust
Hey smozmo ,
I am also new to the touch trading concept . This scenario makes more sense to me . Not that yours is bad , but your trendline doesn't carry much weight in my view .
What I can recommend regarding my personal experience (if you want to trade on touch) is to wait for a clear breakout and a retest.
These zones/lines are interesting for me then.

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  • #107,765
  • Feb 22, 2012 4:30am Feb 22, 2012 4:30am
Quoting Pumlitch
What I can recommend regarding my personal experience (if you want to trade on touch) is to wait for a clear breakout and a retest.
These zones/lines are interesting for me then.

Attachment
This kind of breakouts i trade with a bar confirmation (Mike's style) .
I went through that , but daily is too choppy for my liking . Even though I like the very clear path to 0.8500 !
  • #107,766
  • Feb 22, 2012 4:43am Feb 22, 2012 4:43am
Quoting Rust
This kind of breakouts i trade with a bar confirmation (Mike's style) .
I prefer that too
Follow my trading on Twitter and FB: @pumlitch
  • #107,767
  • Feb 22, 2012 6:28am Feb 22, 2012 6:28am
Hey Mike ,
I have a question for you
I am looking at this very pretty flag and it's very tempting to play a long breakout from the upper line . A want to ask if this is good enough setup in your book ?
The main reason i am asking is because there isn't much more supporting confluence (or just I don't see any) . Share some thoughts please
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  • #107,768
  • Feb 22, 2012 6:43am Feb 22, 2012 6:43am
Quoting Rust
Hey Mike ,
I have a question for you
I am looking at this very pretty flag and it's very tempting to play a long breakout from the upper line . A want to ask if this is good enough setup in your book ?
The main reason i am asking is because there isn't much more supporting confluence (or just I don't see any) . Share some thoughts please
Hey Rust

With a breakout pattern I generally don't need more confluence if the pattern is strong enough. The above pattern is a fine one the main problem will be that because the angle of your TL any breakout of the TL will mostly put you very close to the major trouble areas on the pattern. It's just something I would be aware of for mgmt of any potential play on it myself

Best
Mike
  • #107,769
  • Feb 22, 2012 6:52am Feb 22, 2012 6:52am
Looks like this weekly HCR is still holding.
I seem to have gotten into liking the M30 PA at these areas.

Let's see what the NY open brings.
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  • #107,770
  • Feb 22, 2012 7:10am Feb 22, 2012 7:10am
Quoting mbqb11
Hey Rust

With a breakout pattern I generally don't need more confluence if the pattern is strong enough. The above pattern is a fine one the main problem will be that because the angle of your TL any breakout of the TL will mostly put you very close to the major trouble areas on the pattern. It's just something I would be aware of for mgmt of any potential play on it myself

Best
Mike
Thanks friend !
Appreciated every time !

I zoomed out to daily and in general the whole area around 127.00 (that's why marked) is a major ppz . I translate it to the reason this consolidation formed just there after the strong bullish move . So in terms of management (if we get a good entry) i will be aware of it , also . I really want to see the same momentum that lead us here ,but if not present this will be a sign to bail out .
  • #107,771
  • Feb 22, 2012 8:11am Feb 22, 2012 8:11am
We just got the hourly signature of the DBLHC with divergence.

Slowly moving the SL towards physical BE.

I would like to see the daily bar close as a PB.
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  • #107,772
  • Feb 22, 2012 9:24am Feb 22, 2012 9:24am
well this one should be on everyones radar now, we have had a pbt and ca on 4hr, hopefully daily will close above, then shall look for a retrace back to the PPV at 0.84 and will watch for PA on daily and 4hr for an entry
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  • #107,773
  • Feb 22, 2012 9:27am Feb 22, 2012 9:27am
classic... break and play retest for lower areas at brns or major support/demand levels/areas..

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Hero calls followed by margin calls...
  • #107,774
  • Feb 22, 2012 9:52am Feb 22, 2012 9:52am
I wonder if anyone would consider taking a long on the close of the 4hr candle, if it closes a nice pinbar.

http://my.jetscreenshot.com/11256/m_...-yqrl-85kb.jpg
  • #107,775
  • Feb 22, 2012 10:41am Feb 22, 2012 10:41am
Hi J16/Mike et al.

Been ages since i have posted in the thread. I felt compelled to since I saw this J16 post :-)
snap!
best
RS

Quoting james16
CHART
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  • #107,776
  • Feb 22, 2012 10:54am Feb 22, 2012 10:54am
Quoting Revstar
Hi J16/Mike et al.

Been ages since i have posted in the thread. I felt compelled to since I saw this J16 post :-)
snap!
best
RS
hey buddy

some nice trades there !

good too see you

Mike
  • #107,777
  • Feb 22, 2012 12:01pm Feb 22, 2012 12:01pm
I would like this break with retest and 500 pips approx for my bankroll
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all is eternal - this is good news for people who loves bad news
  • #107,778
  • Feb 22, 2012 12:22pm Feb 22, 2012 12:22pm
My feeling for gbpjpy.

http://my.jetscreenshot.com/11256/m_...-crvm-85kb.jpg
  • #107,779
  • Feb 22, 2012 12:44pm Feb 22, 2012 12:44pm
And a few more

EURJPY
http://my.jetscreenshot.com/11256/m_...-uevz-82kb.jpg


Unsure of which ppz to take. BRN no. or other?
USDJPY
http://my.jetscreenshot.com/11256/m_...-u1sl-85kb.jpg


GBPJPY
http://my.jetscreenshot.com/11256/m_...-cloh-81kb.jpg
  • #107,780
  • Feb 22, 2012 12:58pm Feb 22, 2012 12:58pm
Quoting deankenny21
well this one should be on everyones radar now, we have had a pbt and ca on 4hr, hopefully daily will close above, then shall look for a retrace back to the PPV at 0.84 and will watch for PA on daily and 4hr for an entry

Would Jim classify this as an A+ set-up Dean?
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