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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

  • #108,061
  • Feb 27, 2012 11:56am Feb 27, 2012 11:56am
Quoting Chanya
I am going to dare and disagree with you here , in my very next post , I will tell you why !!!
But it hasnt created the BEOB yet, and is very unlikely now with 80 the new support to be confirmed. Nice big round number there
  • #108,062
  • Edited 12:12pm Feb 27, 2012 12:00pm | Edited 12:12pm
Quoting BadgerPips
I've been reading the posts on this thread for about a month....great stuff! I thought I would jump in with my first post and ask for your thoughts on the AUDUSD. I'm looking at a daily PB at a weekly resistance. Looking to short @ 1.06576 with a target at 1.02558 for about 400 pips. Expect FTA at target 1 - 1.05259 (132 pips). I would love to hear your thoughts to see if I'm anywhere close to being on the same page as the J16 teachings!

Thank you!
hi Badger, i mentioned to you, not a good idea to sell where you mentioned, because of the BUOB, you wanted to sell from the bar after which you seen as a pin, my reply was this retracement is no more than a retracement to the new support and the BUOB is the master here and still well in control.

Now im not trying to be big headed here, just showing how accurate you can predict price to go once you have J16 down, just as I said retracement, back to support and back up we go in direction of my BUOB all positions at BE on this one and profits going to be taken soon.

Biggest thing i can advise here, is to do what i did when i first started, is go through ur charts quickly at the end of the daily candle, and only stop when the current bar jumps out at you straight away, this is an excellent way to find those good A+ bars, i still do it now. So this bar you mention in Audusd does not stand out at all, look at the pinbar bottom right of my screenshot now thats a bar that would jump out at me through a scan through all the pairs.
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  • #108,063
  • Edited 12:36pm Feb 27, 2012 12:23pm | Edited 12:36pm
EUR/CAD is painting a nice BEOB (engulfing the Sunday bar if that counts, there are strong reversals across the board though..)off a weekly 50% ret. Off th daily 150 EMA and nearish to RN 1.35 (didn't touch it but got close...)
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Anything can happen.
  • #108,064
  • Feb 27, 2012 12:31pm Feb 27, 2012 12:31pm
Quoting Chanya
Looking at USD JPY Daily chart below , we see that Yesterday , we broke through the PPZ area that I marked in yellow color !!! Today , that area which was previously resistance , will probably act as support as we are retesting that !!! I see it doing that !!!

Now down on USD JPY 4 Hour chart , We are forming a pin bar on exactly the same area which we are retesting on daily !!!! I see it going north ( IF THAT PINBAR ON H4 Forms nicely !!! )

That's just how I see it !!! I might be wrong !!!
Lets wait and see how the Daily candles will close.
I will play LONG trend game on all JPY pairs this Year. And this game includes countertrade entries with half position size and full position size entries in trend direction on retracements. I suspect that this week could be retracement week... but we should be patient and look how things will develop.
I see my AUDJPY and CADJPY pictures are changed few hours later also. Sure BRN 80.00 on USDJPY... it is quite obvious level and it may act as psychosupport. if this 79.80 -80.40 zone will be rejected clearly I will enter long tomorrow with You Chanya .
all is eternal - this is good news for people who loves bad news
  • #108,065
  • Feb 27, 2012 12:38pm Feb 27, 2012 12:38pm
This was not my scenario I want rejection and establishment of this support not a break under waiting for some signs ... from above
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all is eternal - this is good news for people who loves bad news
  • #108,066
  • Feb 27, 2012 12:45pm Feb 27, 2012 12:45pm
eurusd decided not to buy from the trend line. will wait for a return to a broken 1.32800. eurcad wait to returning to 1.32400

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  • #108,067
  • Feb 27, 2012 1:19pm Feb 27, 2012 1:19pm
Quoting brzvadeg
Euro goes to the trend line, the rebound buy. Pound returned to the previous trend line, if so, then buy on the rebound from 1.58000

Attachment

Attachment
Cable went to 1.58080 last I looked. I am working today and have seen no PA and can't babysit my trade, so I'm not getting in, but I have seen the Cable over/under react to everything. Made enough on GBP/JPY to make me happy for the week, so if it takes off like I thought it would and I'm not in, it won't hurt my feelings. Looks like it might still come down anyways. I'm headed back out. Happy trading guys!
Currency is a joke. And that's precisely why I trade it.
  • #108,068
  • Feb 27, 2012 1:24pm Feb 27, 2012 1:24pm
Watching this BUOB as a continuation trade, hoping for it to close above marked pivot zone
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  • #108,069
  • Feb 27, 2012 1:32pm Feb 27, 2012 1:32pm
Just trying to be patient about this setup, offcourse if it happens. I've got a nice BUOB on the weekly. On the daily I hope that price is just testing the support level before it goes up again. Any comments would be appreciated.
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  • #108,070
  • Feb 27, 2012 1:37pm Feb 27, 2012 1:37pm
Quoting riandouma
Just trying to be patient about this setup, offcourse if it happens. I've got a nice BUOB on the weekly. On the daily I hope that price is just testing the support level before it goes up again. Any comments would be appreciated.
The weekly is not a BUOB the low must be "lower" than the bar its engulfing, same for the high. In this case it does not engulf the lower.
  • #108,071
  • Feb 27, 2012 1:44pm Feb 27, 2012 1:44pm
Quoting Chanya
Looking at USD JPY Daily chart below , we see that Yesterday , we broke through the PPZ area that I marked in yellow color !!! Today , that area which was previously resistance , will probably act as support as we are retesting that !!! I see it doing that !!!

Now down on USD JPY 4 Hour chart , We are forming a pin bar on exactly the same area which we are retesting on daily !!!! I see it going north ( IF THAT PINBAR ON H4 Forms nicely !!! )

That's just how I see it !!! I might be wrong !!!
The most crucial role in this scenario is being played by the 80 BRN. Obviously for it to be a BEOB and get Meshka (along with others) excited it will have to make it below 80 anyways which given the time of the day looks unlikely.

the 4H pin you pointed out, would have had a slightly better chance had it been off the 80 rather than just above it.

g.
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I believe . . .
  • #108,072
  • Feb 27, 2012 1:48pm Feb 27, 2012 1:48pm
Hi Mike, would like to show you this chart


http://my.jetscreenshot.com/11256/m_...-zjkw-81kb.jpg




Should it close as beob, is this a nice setup? got the 50ema for support, and its at the top of a run.
  • #108,073
  • Feb 27, 2012 1:52pm Feb 27, 2012 1:52pm
Quoting meshka
This was not my scenario I want rejection and establishment of this support not a break under waiting for some signs ... from above
your wish may still be on the cards . . . as long as we stay above 1.24

g.
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I believe . . .
  • #108,074
  • Feb 27, 2012 1:52pm Feb 27, 2012 1:52pm
Quoting ghous
The most crucial role in this scenario is being played by the 80 BRN. Obviously for it to be a BEOB and get Meshka (along with others) excited it will have to make it below 80 anyways which given the time of the day looks unlikely.

the 4H pin you pointed out, would have had a slightly better chance had it been off the 80 rather than just above it.

g.
Yes i was hoping for a move lower, if the pin had pierced 80, wouldve been a lovely setup, but for the simple reason it couldnt reach 80, i have skipped for now.
  • #108,075
  • Feb 27, 2012 1:55pm Feb 27, 2012 1:55pm
Quoting heebbyjeeby
Hi Mike, would like to show you this chart


http://my.jetscreenshot.com/11256/m_...-zjkw-81kb.jpg




Should it close as beob, is this a nice setup? got the 50ema for support, and its at the top of a run.
careful as this BEOB is going right into a pivot area at around 1.2415 area, to even think about it i would like a close below 1.2415 and RN of 1.24
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  • #108,076
  • Feb 27, 2012 2:16pm Feb 27, 2012 2:16pm
Quoting deankenny21
Watching this BUOB as a continuation trade, hoping for it to close above marked pivot zone
I like this also ! 2 hours left till close
  • #108,077
  • Feb 27, 2012 2:45pm Feb 27, 2012 2:45pm
I am very fresh to this thread but this setup seems a good one to me.

We have a confluence of 2 fibos; the one from where the upmove started ) at 23) and the one from the last ranging period (at 38). There is also the 21 EMA spot on (if you look at those).
It also broke through the supply area from begining of november yesterday and seems to bounce from it now.
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Thoughts are things
  • #108,078
  • Feb 27, 2012 2:47pm Feb 27, 2012 2:47pm
Quoting Quezoy
I am very fresh to this thread but this setup seems a good one to me.

We have a confluence of 2 fibos; the one from where the upmove started ) at 23) and the one from the last ranging period (at 38). There is also the 21 EMA spot on (if you look at those).
It also broke through the supply area from begining of november yesterday and seems to bounce from it now.
basically all pointing to 107 RN, similar scenario to USDJPY for me, i wouldve preffered and like the pin to have pierced the Round number, to make sure we picked up those buyers. For now due to this i sit aside.
  • #108,079
  • Feb 27, 2012 2:55pm Feb 27, 2012 2:55pm
Quoting deankenny21
basically all pointing to 107 RN, similar scenario to USDJPY for me, i wouldve preffered and like the pin to have pierced the Round number, to make sure we picked up those buyers. For now due to this i sit aside.
By "picked up those buyers at 107" you are refering to a bigger mass of pending buy orders at this RN?

Is this the norm, that we get a stronger move if we touch the RN levels?
Thoughts are things
  • #108,080
  • Feb 27, 2012 3:01pm Feb 27, 2012 3:01pm
Quoting Quezoy
By "picked up those buyers at 107" you are refering to a bigger mass of pending buy orders at this RN?

Is this the norm, that we get a stronger move if we touch the RN levels?
Well price usually retraces or is attracted to these number, not by coincidence but beause the big boys want thier orders filled so price will get moved to these areas more times than not, so the big boys can have thier trade filled at a good price, and yes 107 and 80 on ej and uj have been broken and are "UNTESTED" as resistence turned support, so this is why i would have liked the touch or piercing of these areas to be confident of going in, it may never go down there, thats no problem, just means i didnt lose anything, but while its unfilled the magnet affect is still going to be in my mind.
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