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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

  • #108,081
  • Feb 27, 2012 3:51pm Feb 27, 2012 3:51pm
http://my.jetscreenshot.com/11256/m_...-peii-88kb.jpg

Hey Dean, just wanted to check. This set-up is a no no, because close it not near the bottom for a beob, is this correct?
  • #108,082
  • Feb 27, 2012 4:04pm Feb 27, 2012 4:04pm
Daily managed to close above .84000

http://my.jetscreenshot.com/11256/m_...-uz91-92kb.jpg
  • #108,083
  • Feb 27, 2012 4:12pm Feb 27, 2012 4:12pm
These Daily bars jumped out at me I was checking my charts. CAD/JPY looks like a great setup, and the s/r / pivot below AUD/CHF Outside bar is strong. Just a heads up. Cheers.
  • #108,084
  • Feb 27, 2012 4:15pm Feb 27, 2012 4:15pm
Quoting mbqb11
hey badger welcome to the thread!

I would be careful here. This is a pinbar but very tiny and not at a good swing high. Because of that we are stuck in a very tight area. It looks like a bullish flag forming if anything to. This actually puts our FTA very close. We are also trading back into a bigger BUOB here too.

Here is my chart

Again welcome to this thread love to see new folks posting

Mike
here is that updated chart

This proves how strong this information can be no matter how you want to use it(styles)
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  • #108,085
  • Feb 27, 2012 5:02pm Feb 27, 2012 5:02pm
hmm... well, unclear daily closes on all my JPY toys ... will stay aside.
these "wicked" BEOB'ars still have potency to move prices down... but better without me this time
all is eternal - this is good news for people who loves bad news
  • #108,086
  • Feb 27, 2012 5:06pm Feb 27, 2012 5:06pm
Quoting FocusedonFX
These Daily bars jumped out at me I was checking my charts. CAD/JPY looks like a great setup, and the s/r / pivot below AUD/CHF Outside bar is strong. Just a heads up. Cheers.
The bar may jump out but please study, notice the PPZ at 79.70ish area, this is where the bar finished, couldnt break through, notice all the bar lows, and thats not even including the 365ema holding it up too, Possibly as far from A+ as u can get apart from the bar formation.
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  • #108,087
  • Feb 27, 2012 5:29pm Feb 27, 2012 5:29pm
Quoting deankenny21
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.
Offcourse, thanks!!
  • #108,088
  • Feb 27, 2012 5:33pm Feb 27, 2012 5:33pm
Quoting riandouma
Offcourse, thanks!!
No problem, remember keeping it simple makes it easy, so looking for buob and beob we want that bar to break a PPZ and close past it, then its definately on radar for a trade, if it falls back and closes back within the ppz then sit aside.
  • #108,089
  • Feb 27, 2012 5:43pm Feb 27, 2012 5:43pm
Think I got excited cause price has made "never before lows" and a W formation. Think i have the first feeling of " what I want price to do" than follow the price!
  • #108,090
  • Feb 27, 2012 5:50pm Feb 27, 2012 5:50pm
As I anticipated on Feb 21, price did not break support and is still on the same bullish flag.

On the weekly chart it's possible to see a bullish PB taking liquidity at the same level of a past other PB.

On the daily chart I have drawn some possible price paths: in red the bearish solution with monthly support 286.49 (purple) turning in resistance plus retracement to it. We are in a bullish flag for now, so this scenario might have less probability to happen.

Then there are 2 possible bullish outcomes: one where price hits the dynamic resistance TL, retraces and breaks up (light green), and one where price breaks through the same TL, retests it, then goes up (dark green).
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  • #108,091
  • Feb 27, 2012 9:20pm Feb 27, 2012 9:20pm
Hi all,

There looks like a potential "BEOC" off a confluence of Fib 50, Resistance level of 1.5950 and 365 EMA. Could this be a good trade if the candle closed below 1.5800 with 1.5725 (blue rectangle) as the FTA.

Caesar
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"Nature's law" is called "Reason". When perfectly understood by human it is
  • #108,092
  • Feb 27, 2012 10:13pm Feb 27, 2012 10:13pm
Quoting deankenny21
The bar may jump out but please study, notice the PPZ at 79.70ish area, this is where the bar finished, couldnt break through, notice all the bar lows, and thats not even including the 365ema holding it up too, Possibly as far from A+ as u can get apart from the bar formation.
You're absolutely right about the close and the PPZ. Something to possibly hold up or reverse the trade right off the bat
That was a pretty ordinary call- and thanks for your input.
  • #108,093
  • Feb 27, 2012 10:23pm Feb 27, 2012 10:23pm
I wish I knew how to post markets. USDCAD gave me some good feelings. It started ranging and then created a triangle, then broke out with a pin that suggested that the main down trend could be about to resume. It's not that I want to take the trade based solely on that, but that I actually noticed that much in the chart. I know there is still plenty to look at, if I want to follow this course. But I feel like PA is actually sinking in and truly making sense. Just a personal milestone that I felt like sharing.

And another thing. I have been reading the forums and I notice this trend in here where people help people, then those people help newer people, etc. and I just wanted to say to everyone, thanks to everyone from James all the way to this page. Thanks for keeping this going for so long and still making it possible to find in 2012. Everything I learn and try here gives me more and more confidence as a trader. Prior to this, I realize now that I had the trading grace and poise of a crackhead rhinoceros stamping on a keyboard. (Turns out you can accidentally blow over 20,000 in 2-3 weeks. Thank God, it was a demo!) It's because of you guys that so far, this is my first non-losing week. So thank you all. Every one of you. It's more monumental that you know.
Currency is a joke. And that's precisely why I trade it.
  • #108,094
  • Feb 27, 2012 11:09pm Feb 27, 2012 11:09pm
Quoting MtDarkness
I wish I knew how to post markets. USDCAD gave me some good feelings. It started ranging and then created a triangle, then broke out with a pin that suggested that the main down trend could be about to resume. It's not that I want to take the trade based solely on that, but that I actually noticed that much in the chart. I know there is still plenty to look at, if I want to follow this course. But I feel like PA is actually sinking in and truly making sense. Just a personal milestone that I felt like sharing.

And another thing. I have been reading...
cool brotha! Keep it up
  • #108,095
  • Feb 27, 2012 11:50pm Feb 27, 2012 11:50pm
Hi guys..

From my observations, I see that PA is more effective at BRN's and most price pivot levels occur at BRNs..

e.g. look at the eur/gbp @ 0.9000, 0.8900,0.8800..and so on..PA has always confirmed the moves at these levels and also you see solid S/R at these BRNs..

I mean you can easily catch a 100-200 pip move with atleast 20 pip risk if we wait and watch the PA setups @ BRNs.

somehow the BRNs are key S/R and pivots and PA works just beautifully.

Would you say that BRN should be a must for a A+ setup or atleast a BRN is very much required for a good Setup?

What has your experience been with BRNs?
  • #108,096
  • Feb 28, 2012 1:48am Feb 28, 2012 1:48am
Hi Guys!

Break above 13000 DJ might be the catalyst for Usd selloff. If that happens then Silver will probably get bid.
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  • #108,097
  • Feb 28, 2012 2:01am Feb 28, 2012 2:01am
Maybe we shall see some bullish PA here.
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  • #108,098
  • Feb 28, 2012 2:10am Feb 28, 2012 2:10am
Quoting Pinbar
Maybe we shall see some bullish PA here.

AUD/*** definitelly looks bullish across the board. All we need is some risk appetite
  • #108,099
  • Feb 28, 2012 2:40am Feb 28, 2012 2:40am
I think we are about to get a retest of this daily + Weekly LCS.
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  • #108,100
  • Edited 3:55am Feb 28, 2012 3:24am | Edited 3:55am
I have a pending sell order open from last night.
We had a BEOB, we touched 1.26, but the fibos and MA dont really contribute to the confluence.
There is also a tight range area beneath it.

Would this be a legitimate entry or not?
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Thoughts are things
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