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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

  • #109,701
  • Apr 2, 2012 8:18am Apr 2, 2012 8:18am
Quoting mrhb30jr
hi Mike,

USDNOK - D1 looks like find the support reversal at 61.% fibo.., 4hr tf Inside PB.....

what is your opinion mike.... BRN 1.6 area....

cheers
Hey M

This pair is pretty crazy choppy, it's one of those that I am pretty much just skipping over. Remember BRN are every 500 pips so that would actually place them at 5.5 and 6 which is where we are trapped b/w right now.

Tough pair to trade right now just be cautious with any mgmt in these environments

Best
Mike
  • #109,702
  • Apr 2, 2012 8:34am Apr 2, 2012 8:34am
Quoting mbqb11
Hey M

This pair is pretty crazy choppy, it's one of those that I am pretty much just skipping over. Remember BRN are every 500 pips so that would actually place them at 5.5 and 6 which is where we are trapped b/w right now.

Tough pair to trade right now just be cautious with any mgmt in these environments

Best
Mike
hi mike,

noted with thanks mike,...

cheers
  • #109,703
  • Apr 2, 2012 9:18am Apr 2, 2012 9:18am
Quoting jarroo
Let's see where the Daily closes today and see if the 1664.10 level has flipped back to Support . .by not closing below it at day's end. . .
Its not at day's end but no surprise here . .right Haircut . .
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Indicators show the past. Price Action "Indicates" the future.
  • #109,704
  • Apr 2, 2012 9:20am Apr 2, 2012 9:20am
Quoting Rust
First trade for Q2
Here I am :

- fading momentum - divergence !
- broken trendline
- DBHLC
- enough information to manage our trade and reduce stop

Wish me a good start for the month
First major trouble area of 1.3250 broke pretty hard and nice , which is lovely as now i can use it as expected resistance if price pulls back
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  • #109,705
  • Apr 2, 2012 9:50am Apr 2, 2012 9:50am
Quoting mbqb11
Hey M

This pair is pretty crazy choppy, it's one of those that I am pretty much just skipping over. Remember BRN are every 500 pips so that would actually place them at 5.5 and 6 which is where we are trapped b/w right now.

Tough pair to trade right now just be cautious with any mgmt in these environments

Best
Mike
Hey, I'v noticed people watching a few exoitic pairs here like this one and am tempted to check them out. I'm already watching 28 majors and this would add another 39 charts to the platform. I'v noticed they can be very expensive so I don't really understand why anyone would trade them. Is there a few I should watch and disregard the rest? I think my mind might be trying to over complicate things!)

thanks
  • #109,706
  • Apr 2, 2012 10:05am Apr 2, 2012 10:05am
Quoting equivestor12
Hey, I'v noticed people watching a few exoitic pairs here like this one and am tempted to check them out. I'm already watching 28 majors and this would add another 39 charts to the platform. I'v noticed they can be very expensive so I don't really understand why anyone would trade them. Is there a few I should watch and disregard the rest? I think my mind might be trying to over complicate things!)

thanks
Hey Equi

I watch and trade around 80 FX pairs. Most are not really that expensive it's just people are used to seeing a 1pip spread on the euro and assume that if a spread is 20 pips that it means its expensive. Often times it's all relative to how the currency is priced as well as how big it moves. Of course that's with all things considered and any decent broker.

If it moves I watch it pretty much

Best
Mike
  • #109,707
  • Apr 2, 2012 10:16am Apr 2, 2012 10:16am
This 90.46 area got an interesting response from price.

But there is a strong looking daily BEOB in the making.
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  • #109,708
  • Apr 2, 2012 10:25am Apr 2, 2012 10:25am
Quoting equivestor12
Hey, I'v noticed people watching a few exoitic pairs here like this one and am tempted to check them out. I'm already watching 28 majors and this would add another 39 charts to the platform. I'v noticed they can be very expensive so I don't really understand why anyone would trade them. Is there a few I should watch and disregard the rest? I think my mind might be trying to over complicate things!)

thanks
Not at all . I am trading them the last month , after Mike's advice to check em out. SOME are more expensive and spread widens at some times , but overall exotics are pretty much the same in that manner
  • #109,709
  • Apr 2, 2012 10:29am Apr 2, 2012 10:29am
Quoting Pinbar
This 90.46 area got an interesting response from price.

But there is a strong looking daily BEOB in the making.

What's the Daily and Weekly HCR level, (Feb. 24th) ? ..yeah I know, damn gaps!! . .lol

If the daily can close below this level I like the Daily BEOB ..if it can't close below this level, we could be going up from here . .

sorry gotta go . .(post and run)


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #109,710
  • Apr 2, 2012 12:41pm Apr 2, 2012 12:41pm
Quoting Pinbar
This 90.46 area got an interesting response from price.

But there is a strong looking daily BEOB in the making.

Not worth it imo if it cant go past 90. Also, all chf pairs are basically eur pairs, because of swiss bank move, so I would check eurjpy instead
  • #109,711
  • Apr 2, 2012 3:24pm Apr 2, 2012 3:24pm
Quoting Rust
First trade for Q2
Here I am :

- fading momentum - divergence !
- broken trendline
- DBHLC
- enough information to manage our trade and reduce stop

Wish me a good start for the month
It's like christmas
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  • #109,712
  • Apr 2, 2012 3:27pm Apr 2, 2012 3:27pm
Quoting jarroo
Your level wasn't bad, HC . .but look for these stronger levels with some Space and the move can be more rewarding ..
Thanks Jarroo
  • #109,713
  • Apr 2, 2012 3:31pm Apr 2, 2012 3:31pm
Quoting jarroo
Its not at day's end but no surprise here . .right Haircut . .

This really is simple Jarroo but i am beginning to be confident in the method and trying to pick these areas myself

thanks so much
Haircut
  • #109,714
  • Apr 2, 2012 4:31pm Apr 2, 2012 4:31pm
Mike
Good evening

There is a pair gbp/cad buob

Would love to get your opinion

Thank you very much

Sorry for my bad English
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  • #109,715
  • Apr 2, 2012 4:33pm Apr 2, 2012 4:33pm
Quoting Yehuda Sh
Mike
Good evening

There is a pair gbp/cad buob

Would love to get your opinion

Thank you very much

Sorry for my bad English
Hey Yehuda

How are ya bud?

This pair is just a mess for me. Stuck in a HUGE range, and remember the midpoints of these ranges are often PPZs as well. S o this one would be sitting right on that PPZ area. I don't like trading in the middle of these boxes. This is pretty much a hands off pair for me right now

Hope that helps
Mike
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  • #109,716
  • Apr 2, 2012 4:38pm Apr 2, 2012 4:38pm
Mike


Thanks a lot for fast feedback
  • #109,717
  • Apr 2, 2012 5:38pm Apr 2, 2012 5:38pm
Quoting mbqb11
Hey Yehuda

How are ya bud?

This pair is just a mess for me. Stuck in a HUGE range, and remember the midpoints of these ranges are often PPZs as well. S o this one would be sitting right on that PPZ area. I don't like trading in the middle of these boxes. This is pretty much a hands off pair for me right now

Hope that helps
Mike

Even with the size of that bar?
Many choose unhappiness over uncertainty.
  • #109,718
  • Apr 2, 2012 5:44pm Apr 2, 2012 5:44pm
Quoting Dan Gilbert
Even with the size of that bar?
Hey Dan

yep, there is just way too much mess here for me. Certainly doesn't mean price can't or won't go down. But the likelihood of continued chop has proven itself for a long time now. If you are one to babysit, then I would say it's ok you watch your FTA which is mighty close, but such a tough environment is not worth it for me. gbp/cad is layers of consolidation with in larger layers of consolidation. Or an easier way I think of something like this, is what is the story here? Is this worth my actual $ ? Can I find a better one then this?


Best
Mike
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  • #109,719
  • Apr 2, 2012 9:25pm Apr 2, 2012 9:25pm
Quoting mrv
Not worth it imo if it cant go past 90. Also, all chf pairs are basically eur pairs, because of swiss bank move, so I would check eurjpy instead

We were not talking about shorting it just yet, we were talking about the 90.46 area acting as support and possible showing us some bullish PA.

Agree though, the 90 area has got to go first, before shorting it.
  • #109,720
  • Apr 2, 2012 11:10pm Apr 2, 2012 11:10pm
Quoting mbqb11
Hey Dan

yep, there is just way too much mess here for me. Certainly doesn't mean price can't or won't go down. But the likelihood of continued chop has proven itself for a long time now. If you are one to babysit, then I would say it's ok you watch your FTA which is mighty close, but such a tough environment is not worth it for me. gbp/cad is layers of consolidation with in larger layers of consolidation. Or an easier way I think of something like this, is what is the story here? Is this worth my actual $ ? Can I find a better one then this?...

yeah? well what do you know?






EDIT: I think my real reason for liking this one is just how much price respects the BRN's on this particular pair. seems like a very minor pair yet the price keeps bouncing on the big rounds.
Many choose unhappiness over uncertainty.
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