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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

  • #108,501
  • Mar 6, 2012 10:07pm Mar 6, 2012 10:07pm
Quoting Pinbar
Jarroo, would you be kind enough to share your thoughts on NZD/USD.

This goes to show that we should not really expect price to do what we consider it should do. We need to watch what it shows us and in this case it is clearly showing us, it does not agree with my expectations. LOL

Yes that level failed miserably as Support . .so what does that tell you about the levels as acting as Resistance? . .the setup was right there on your Daily chart . Bam!! . .


These levels usuallly act as we expect them to do . .getting PA that agrees with these levels confims this expectation.

If we got a Bullish PB at the expected Support level, it would have been an easy trade. But Price smashed right through it. When that happens, the level doesn't go away . .its a good chance that this level will "flip" to Resistance . .and this is a geat example that it did just that . .


Price is now coming back to potentially retest this new Resistance . .lets watch and see how it reacts or if there is Bearish PA at this level..

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #108,502
  • Mar 6, 2012 10:34pm Mar 6, 2012 10:34pm
chart
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  • #108,503
  • Mar 6, 2012 10:34pm Mar 6, 2012 10:34pm
Quoting Pumlitch
Thanks for your view Jim and thanks for the answer regarding TT's.
I didn't dare to enter on touch as the move up was pretty strong. Watching, waiting.

have to work now, auch
Nice day to all.
Hey Pumlitch . .some followup charts . .
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Indicators show the past. Price Action "Indicates" the future.
  • #108,504
  • Mar 6, 2012 10:36pm Mar 6, 2012 10:36pm
Quoting james16
chart

Looks like a Pitbull PB to me . .
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Indicators show the past. Price Action "Indicates" the future.
  • #108,505
  • Mar 6, 2012 11:09pm Mar 6, 2012 11:09pm
Quoting jarroo
Looks like a Pitbull PB to me . .
Yes definately an A class setup all day, Not an A+ as EMAS were only a tad away, but definately an amazing setup with high probability to predict where its going. Unfortunately i wasnt at the screen to take the break

but i am in this AUDUSD i mentioned last week, marked with blue rectangle, there is a pinbar closing back in the box area, it didnt break for the next 2 bars BUT the next 2 bars also created its own 2day pinbar in its own right, and over 150 pips up right now, with SL in the profit aiming for the rising trendline i have marked
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  • #108,506
  • Mar 6, 2012 11:18pm Mar 6, 2012 11:18pm
Quoting deankenny21
Yes definately an A class setup all day, Not an A+ as EMAS were only a tad away, but definately an amazing setup with high probability to predict where its going. Unfortunately i wasnt at the screen to take the break

but i am in this AUDUSD i mentioned last week, marked with blue rectangle, there is a pinbar closing back in the box area, it didnt break for the next 2 bars BUT the next 2 bars also created its own 2day pinbar in its own right, and over 150 pips up right now, with SL in the profit aiming for the rising trendline i have marked...
Nice one Dean .. .Interesting where Price retraced to after that pin bar looking BEOB was formed . .right at the HCR level.


A retrace to the LCS level is very possible.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #108,507
  • Mar 6, 2012 11:22pm Mar 6, 2012 11:22pm
Quoting jarroo
Nice one Dean .. .Interesting where Price retraced to after that pin bar looking BEOB was formed . .right at the HCR level.


A retrace to the LCS level is very possible.

Jim
yes, area of interest now, i have my stop loss hidden just behind it
  • #108,508
  • Mar 6, 2012 11:29pm Mar 6, 2012 11:29pm
Quoting deankenny21
yes, area of interest now, i have my stop loss hidden just behind it

This LCS level (in green) that's lining up with a Low is also a good level to watch . .If that level acts a Resistance by Price . .not a bad place to move your stop to lock in even more . .
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Indicators show the past. Price Action "Indicates" the future.
  • #108,509
  • Mar 6, 2012 11:47pm Mar 6, 2012 11:47pm
http://i1171.photobucket.com/albums/...6-19CHgold.png
  • #108,510
  • Mar 6, 2012 11:49pm Mar 6, 2012 11:49pm
http://i1171.photobucket.com/albums/...0-24SAgnzd.png
  • #108,511
  • Mar 7, 2012 1:03am Mar 7, 2012 1:03am
Quoting jarroo
Looks like a Pitbull PB to me . .
Lol , jaroo i love these kind of charts..

Can someone put flowers/chocolates near to 2800 level.

Thanks..
  • #108,512
  • Mar 7, 2012 1:28am Mar 7, 2012 1:28am
Just becouse of strong equities correlation its worth to note the strong resistance on Dow @12865 which might have high impact on USD & JPY pairs.

1.0655 is a strong resistance on AU which offer an entry with very tight stop and possibly no DD.
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  • #108,513
  • Mar 7, 2012 1:57am Mar 7, 2012 1:57am
Quoting deankenny21
Yes definately an A class setup all day, Not an A+ as EMAS were only a tad away, but definately an amazing setup with high probability to predict where its going. Unfortunately i wasnt at the screen to take the break

but i am in this AUDUSD i mentioned last week, marked with blue rectangle, there is a pinbar closing back in the box area, it didnt break for the next 2 bars BUT the next 2 bars also created its own 2day pinbar in its own right, and over 150 pips up right now, with SL in the profit aiming for the rising trendline i have marked...
Me neither.... how annoying. Oh well, plenty more setups around. Just not quite as pretty as that for a while.
  • #108,514
  • Mar 7, 2012 4:12am Mar 7, 2012 4:12am
Quoting jarroo
Yes that level failed miserably as Support . .so what does that tell you about the levels as acting as Resistance? . .the setup was right there on your Daily chart . Bam!! . .


These levels usuallly act as we expect them to do . .getting PA that agrees with these levels confims this expectation.

If we got a Bullish PB at the expected Support level, it would have been an easy trade. But Price smashed right through it. When that happens, the level doesn't go away . .its a good chance that this level will "flip" to Resistance . .and this...
Thanks Jim

Yes there was a good TT opportunity at 0.822 & Indeed looks like 0.81725 is acting as support.
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  • #108,515
  • Mar 7, 2012 4:31am Mar 7, 2012 4:31am
anybody short on Gbpusd?
  • #108,516
  • Mar 7, 2012 4:50am Mar 7, 2012 4:50am
Quoting fascist
anybody short on Gbpusd?
I look forward to 1.58000.
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  • #108,517
  • Mar 7, 2012 4:55am Mar 7, 2012 4:55am
GBP-CHF anyone?
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  • #108,518
  • Mar 7, 2012 5:12am Mar 7, 2012 5:12am
Quoting Brixton
GBP-CHF anyone?
I m watching this Brixton, i have my limit order set past 1.4400.

good retracement after the BEOB..too bad i m n office..
  • #108,519
  • Mar 7, 2012 5:13am Mar 7, 2012 5:13am
Quoting brzvadeg
I look forward to 1.58000.
Attachment
your short order over there? doubt it will reach there...
  • #108,520
  • Mar 7, 2012 5:19am Mar 7, 2012 5:19am
Quoting fascist
your short order over there? doubt it will reach there...
Previously, will not open.
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