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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

  • #109,581
  • Mar 29, 2012 8:13pm Mar 29, 2012 8:13pm
Quoting mbqb11
Hey Heeb

I would be very cautious trading back into the pivot around 82.50. Coming of a pretty strong bearish move I would need more confluence and a stronger bar and/or close to be pushing back into this. Keep your stops tight if you are going to fight that at the least

Best
Mike
Updated chart. Look where price went. IF that pin closed as a BUOB just above that area then think about that scenario.

Mike
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  • #109,582
  • Mar 29, 2012 8:34pm Mar 29, 2012 8:34pm
Quoting mbqb11
a bunch of us are watching this. Things are getting heavy at the 85 BRN. Talk about a nice support line(for now) if price gets under very good area to watch, as is it right now as well.

Let's see what happens here
http://www.forexfactory.com/attachme...7&d=1333025483

Hi Mike,
Was watching AUDJPY as well but it broke during my sleep zone. Did u guys entered this on break (which seems to be a fake out for now)? If yes, how did u manage it? Thks
  • #109,583
  • Mar 29, 2012 8:40pm Mar 29, 2012 8:40pm
Quoting Fx7877
http://www.forexfactory.com/attachme...7&d=1333025483

Hi Mike,
Was watching AUDJPY as well but it broke during my sleep zone. Did u guys entered this on break (which seems to be a fake out for now)? If yes, how did u manage it? Thks
Hey FX

Nope there were no PA signals. I never just enter on a break of an area without more information or reason to do so. Mostly in the form of price action bars.

Best
Mike
  • #109,584
  • Mar 29, 2012 9:07pm Mar 29, 2012 9:07pm
Quoting mbqb11
Hey FX

Nope there were no PA signals. I never just enter on a break of an area without more information or reason to do so. Mostly in the form of price action bars.

Best
Mike
Thks MIke. Waiting for PA signal saved the day!
  • #109,585
  • Mar 29, 2012 9:12pm Mar 29, 2012 9:12pm
Hey Mike!

Really like this middle of the box stuff! I had noticed this before but couldn't really put my finger on it till I saw it from you. Now it all came together.

Thanks again. What would we do without you bro?

Good Trading
Mike (the other one) lol
  • #109,586
  • Mar 29, 2012 9:25pm Mar 29, 2012 9:25pm
AU is at the support area ,too .there are the pin bars on daily chart and h4 chart .1.0423 is a resistance line on my chart .
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A chart helps those who can read it.
  • #109,587
  • Mar 29, 2012 10:00pm Mar 29, 2012 10:00pm
Quoting Pinbar
Had my eye on this for a while but, it looks like it is time to go back to sitting on our hands till we break out of the box, or at lease wait till we get to the bottom where price has a chance of a good run at the PPZ.

I am finding inertia to be interesting, how price sometimes makes a strong move and actually pierces our PPZ only to reverse.
I suppose, price acts like it is on a trampoline sometimes, it makes a a move up, pulls back, bends the canvas of the trampoline before taking off in the other direction. This used to confuse me.
Hey Pinbar

I am finding inertia interesting too, trying to find how WHY and what causes price to pierce PPZ in the first place, seeing that PPZ are often areas of heavy resistance/support, and sometimes after it breaks through, logically it should be in a home stretch to carry on its trend (after passing PPZ as troubled areas). But often it reverse back to the PPZ. Therefore trying to figure out the situations where price will reverse back or carry on its trend in regards to PPZ. I guess im still confused

Duckie
  • #109,588
  • Mar 29, 2012 11:53pm Mar 29, 2012 11:53pm
Quoting Pinbar
For Jarroo

H1 Posted for educational purposes only. Not something any new people should even bother looking at.


This 130.714 area is interesting.
Hey Steve . .The 130.71, is that a higher TF level?

I've been waiting for Price to come down to the 129.50 to show Support from previous Resistance. Bullish PB would be nice.

Price is acting well to Support at the 130.56 Daily LCS level . .that looks interesting. I'll tell ya, these Yen pairs sure like their Highs and Lows ..
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Indicators show the past. Price Action "Indicates" the future.
  • #109,589
  • Mar 30, 2012 12:10am Mar 30, 2012 12:10am
Quoting haircut
Cheers Jarroo you are most definitely the man!

lol . .thanks HC . . . .glad I could help .
Indicators show the past. Price Action "Indicates" the future.
  • #109,590
  • Mar 30, 2012 1:34am Mar 30, 2012 1:34am
Quoting duckulapip
Hey Pinbar

I am finding inertia interesting too, trying to find how WHY and what causes price to pierce PPZ in the first place, seeing that PPZ are often areas of heavy resistance/support, and sometimes after it breaks through, logically it should be in a home stretch to carry on its trend (after passing PPZ as troubled areas). But often it reverse back to the PPZ. Therefore trying to figure out the situations where price will reverse back or carry on its trend in regards to PPZ. I guess im still confused

Duckie
I cannot take credit for this... Mitchworse is the author and it's superb. A little complex later on but this answers you both without analogies.

It's the Bid and Ask that give the direction.
When your chart stalls, buyers and sellers agree on the price.
Price then moves to a previous zone of agreement to start a new debate.

####
If sellers won the debate @ 1.50 and buyers win @ 1.00 it is most likely that buyers want to debate the 1.50 again. But since sellers had solid arguments before, they will be ready. 1.50 => Supply. 1.00 => Demand.
When Price climbs back to 1.50 it will most likely be Rejected. But if there is no rejection and price stalls just below supply and buyers have solid arguments to convince sellers => Consumption.
####

Price drops from Supply.
Price climbs from Demand.

A trend is the process of moving from zone to next zone.

Price Action(PA)
Supply(S)
Demand(D)

Price makes a high(H), a higher high(HH), a lower high(LH), a low(L),a lower low(LL), a higher low(HL)

####
Now one of the favorites: QuasiModo(QM)

Price is @ D and starts to react(PA)
It creates a low(1), a high(2), a lower low(3), a higher high(4) and then a new low @ 1.

What does it mean?
Sellers where in control, buyers stept in(1) until sellers had enough(2).
Buyers hasitate but really want this Demand zone and defend(3) and take price above (2)to create (4), sellers then want to check if buyers have a statement @ (1) and if there still is demand sellers will get back to their previous base.

Mirror for Supply...
####

The war continues, fought by many battles each day and each timeframe brings you closer to the front.
  • #109,591
  • Mar 30, 2012 1:38am Mar 30, 2012 1:38am
Quoting mbqb11
a bunch of us are watching this. Things are getting heavy at the 85 BRN. Talk about a nice support line(for now) if price gets under very good area to watch, as is it right now as well.

Let's see what happens here
watching this one very close, have my alarms set on a location like this

here is a small update
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  • #109,592
  • Mar 30, 2012 2:32am Mar 30, 2012 2:32am
Could someone comment on the management or general setup for this trade I took?

I've entered after pinbar on previous high/RN. Price went fast over 100 pips in my direction, came back, almost hit my moved SL, turned for another 100 pip plus and back again, hitting my SL for +12.

Price was in a range so I've expected it to continue down, especially after the first retrace towards my SL. My TP was at the previous low which is in line with 50 and 150 ema.
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Thoughts are things
  • #109,593
  • Mar 30, 2012 2:58am Mar 30, 2012 2:58am
Quoting Quezoy
Could someone comment on the management or general setup for this trade I took?

I've entered after pinbar on previous high/RN. Price went fast over 100 pips in my direction, came back, almost hit my moved SL, turned for another 100 pip plus and back again, hitting my SL for +12.

Price was in a range so I've expected it to continue down, especially after the first retrace towards my SL. My TP was at the previous low which is in line with 50 and 150 ema.
There is nothing wrong in "expecting" the setup to perform really well. Problem arises when you start "hoping" that it will perform well.

Your final TP is a logical area, but you ignored trouble areas before that. That is what 'hoping' is all about. Do you see the 1.59 on my chart? A round number that was a proven PPZ. Ignoring these areas specially in a sideways market can be very detrimental. Because price is weakly poised to trend it has a much greater chance of holding and possibly bouncing off areas that may appear as minor (although this wasn't a minor area). This is precisely why trading in a sideways market can be tricky.

Now there is nothing wrong, in having to take +12 pips on the trade and I believe that was a trade well managed. Additonally if you had been weary of 1.59 maybe a full profit could have been taken at the area? Or perhaps the stop could have been moved just above 1.59 after price closed below it on the daily? like I said a +12 trade wasn't a totally ill managed trade either, but just to comment on your being surprised why price never dropped like a stone.

g.
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I believe . . .
  • #109,594
  • Mar 30, 2012 3:10am Mar 30, 2012 3:10am
Quoting beebolbod
I cannot take credit for this... Mitchworse is the author and it's superb. A little complex later on but this answers you both without analogies.

It's the Bid and Ask that give the direction.
When your chart stalls, buyers and sellers agree on the price.
Price then moves to a previous zone of agreement to start a new debate.

####
If sellers won the debate @ 1.50 and buyers win @ 1.00 it is most likely that buyers want to debate the 1.50 again. But since sellers had solid arguments before, they will be ready. 1.50 => Supply. 1.00 => Demand.
When...
Hey beebolbod

thanks for the explaination, i can see better the reasonings behind movement of price

For me personally, i feel if i could see the order flows, perhaps it will give me an idea how strong the movements will be. As you mentioned, its a battle at each zone. If i could see the "calvary" = the pending orders, it will inject fresh movement towards whichever direction the price is going once triggered, and trend followers will add to the mass inertia, hopefully to break through any trouble areas

however, the idea is buyers or sellers have to reach a point where they can convince others to join their flow or direction of trend. I guess it will all depend on how the battle at each bars are fought. In addition, as you rightly put, the more zones that each party fought will give more evidence of repeated movements (like the PPZ).

Incidently, Price makes a high(H), a higher high(HH), a lower high(LH), a low(L),a lower low(LL), a higher low(HL), sounds a lot like an Elliot Wave (but then i have NO idea how elliot works sometimes)

Duckie
  • #109,595
  • Edited 3:37am Mar 30, 2012 3:12am | Edited 3:37am
Quoting Quezoy
Could someone comment on the management or general setup for this trade I took?

I've entered after pinbar on previous high/RN. Price went fast over 100 pips in my direction, came back, almost hit my moved SL, turned for another 100 pip plus and back again, hitting my SL for +12.

Price was in a range so I've expected it to continue down, especially after the first retrace towards my SL. My TP was at the previous low which is in line with 50 and 150 ema.
Ghous beat me to the D1 answer so i'll just add something that may help.
Sometimes it can help to drop a TF and see if any PA is forming which might signal trouble for you.

I dont want to add confusion but here's my take from 4H.

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BTW.... if that 4H PB closes like it is now.....

EDIT:- attached H8 chart for clarity.
  • #109,596
  • Mar 30, 2012 3:16am Mar 30, 2012 3:16am
Hi all

I take no credit for this, just something i saw today on the internet, have a good weekend all!
Attached Image
  • #109,597
  • Mar 30, 2012 3:36am Mar 30, 2012 3:36am
Thank you for the comments guys. Your points are well made and certainly shed light on the situation.
Thoughts are things
  • #109,598
  • Mar 30, 2012 3:48am Mar 30, 2012 3:48am
Quoting duckulapip
Hi all

I take no credit for this, just something i saw today on the internet, have a good weekend all!
Hahahahaha
  • #109,599
  • Mar 30, 2012 3:55am Mar 30, 2012 3:55am
Quoting ghous
Wow that calls for a good story either ways. We have some nice 'stories' across a bunch of pairs.

g.
lots of taps on that RTL... time to break?
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  • #109,600
  • Mar 30, 2012 4:29am Mar 30, 2012 4:29am
[quote=beebolbod;5526966]lots of taps on that RTL... time to break?

i'm waiting for it too. correct me if i'm wrong, but if it drops i'm thinking it should hit at least 1.01
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