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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

  • #111,061
  • May 1, 2012 4:08pm May 1, 2012 4:08pm
Quoting beebolbod


you beat me to it! I just submitted answers to it all!!! damn you're good Mike.
you shouldn't delete your posts B, multiple opinions are what this is all about. My way is not the right way, just my beliefs and a lot of years of experience. Your posts as is everyone's are just as valuable to me and everyone else


Mike
  • #111,062
  • May 1, 2012 5:11pm May 1, 2012 5:11pm
Quoting mbqb11
you shouldn't delete your posts B, multiple opinions are what this is all about. My way is not the right way, just my beliefs and a lot of years of experience. Your posts as is everyone's are just as valuable to me and everyone else


Mike
ah thanks m8, but i said largely the same as you really.
  • #111,063
  • May 1, 2012 8:22pm May 1, 2012 8:22pm
Quoting Magestic
First trade according to HCR/LCS terminalogy. Comments of pros of that style greatly appreciated. My HRC/LCS levels are on a dayly (1st chart), entry point on 4H (2nd chart).
No pro, but here's how I see it....your daily levels are fairly confluenced in the middle of 2 consolidation boxes.

What I see is a weekly level at current minor swing point, which did give a bounce in form of 4H Pin that it looks like you took. 4H PA off of a weely level is one of my favorites. However, I would prefer it a deeper swing point or at the top or bottom of a large consolidation area so I wouldn't grade the setup A+, but certainly a manageable position.

But you can see the weekly level at a round number did give a bounce and opportunity to cover the trade. How are you managing the trade?

Note I also put weekly target levels on the 4H chart as well. Targets are key for the HCR/LCS entries.
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  • #111,064
  • May 1, 2012 9:26pm May 1, 2012 9:26pm
Quoting beebolbod
Well m8, I've said it loads, too often probably, and i dont want to come over as a groupie or anything so i'll start a thread of my own, dedicated to you and the others who've enabled my trading to take off (new wings so care required) and i'll simply thank you all there, rather than regularly on the threads i visit.

Wasn't long ago that your methods were unfamiliar and new to me, now they are a part of an ever growing and thus far profitable arsenal of weapons aimed directly at the weakest points of the market.

thanks to you all - you know...
Thanks beebo . .


Its all about S/R, my friend . .when all is said and done . . . be they a Price Pattern or a strong James16 classic PA setup. . .Support and Resistance levels are where they all derive or birth from.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #111,065
  • May 1, 2012 9:35pm May 1, 2012 9:35pm
Quoting mbqb11
Hey P. I use a 5pm et close time. It has nothing really to do about a session regarding a daily chart. At 5pm each day(a bit before) I will scan all my daily charts. If I see a trade then I will place my orders and determine my game plan. Since FX is not a centralized market many brokers offer different closing times. I prefer a 5pm as this is sort of the unofficial official close time of the NY session and thus it is in my belief the close should be within this time. But many people us brokers that close up to even 7 hours later than mine....
Just curious Mike,

Which brokers offer a bar close at 5:00 pm EST?

Thanks,

Ender
  • #111,066
  • May 1, 2012 9:46pm May 1, 2012 9:46pm
Hey everyone, just wanted to stop by the current part of this thread and say hello real quick. I started reading the thread a few days ago and am slowly working my way through it (only on page 15 right now). I am having a blast learning and interacting with everyone. Thanks and talk soon.
  • #111,067
  • May 1, 2012 9:48pm May 1, 2012 9:48pm
Quoting Ender2492
Just curious Mike,

Which brokers offer a bar close at 5:00 pm EST?

Thanks,

Ender
Hey Ender

I use fxpro as my main charting(not for trading) they have a 5 et close

Best
Mike
  • #111,068
  • May 1, 2012 9:48pm May 1, 2012 9:48pm
Quoting mbarker22
Hey everyone, just wanted to stop by the current part of this thread and say hello real quick. I started reading the thread a few days ago and am slowly working my way through it (only on page 15 right now). I am having a blast learning and interacting with everyone. Thanks and talk soon.
Enjoy it crazy to think how big this thread has got lol

Mike
  • #111,069
  • May 1, 2012 10:20pm May 1, 2012 10:20pm
Quoting aserbfx
eur aud is breaking out of the triangle.
looking for price action at 1.3000.
Definitely a pair and area that's on the watch list. I actually like 1.2900 a little better than the BRN on this chrt. This one's the definition of a ppz.
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  • #111,070
  • May 1, 2012 11:04pm May 1, 2012 11:04pm
Quoting OffPiste
G'day Guys,

I've been following the post for a while and learnt a lot already.

My first post: on GU Daily

My thoughts would be to go short on retest of HCR rejected by yesterdays PIN(?) - around 1.6260

Confluence:
- 76.4% fib
- FTL Resistance
- BRN 1.63
- Previous HCR (D+W)

First profit target would be around 1.62

Appreciate any comments
Hey OffPiste . .sorry for the late reply .

I always like to check the Weekly HCR/LCS levels and see how the line up with the Daily levels. The 1.6088-1.6080 was a classic long setup once PBT&CA on the Daily and Weekly.

Price is reacting well to the Resistance level at the Weekly LCS level. The uptrend looks pretty strong . .I would still look for strong bearish PA at the Weekly LCS level, 1.6273ish.
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Indicators show the past. Price Action "Indicates" the future.
  • #111,071
  • May 1, 2012 11:21pm May 1, 2012 11:21pm
Quoting Quezoy
Thank you

What about this situation, where price breaks the low from the lst motnhs and has a lot of space now.
Which levels would you pick, how far back would you go?

I've marked 3 levels. Which would you pick?

What do I think of this situation, Quezoy? . .freaking beautiful .

I like the 1.2413-1.231 first and foremost, respectively. The 1.2511 has already been tested so we may be done with that level for now.

Daily bearish PA at these levels would add to its confirmation as flipping to Resistance.

Check out the 4 Hour BEOB at these Weekly LCS levels . .nice. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #111,072
  • May 1, 2012 11:22pm May 1, 2012 11:22pm
Quoting james16
chart
I do realize this post is almost 4 years old, but I am studying and learning, so studying an old chart is just practice, right?

That being said, isnt there also a strong outside bullish bar above July 1?

Thanks for such an incredible and well thought out piece of teaching/learning experience!
100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,073
  • May 1, 2012 11:31pm May 1, 2012 11:31pm
EUR/GBP triggered at 0.8178...

Price pullback to LCS Weekly / LCS Monthly and go down... Hit the first TP level, SL to BE... This one got the runner...
Today, Price has hit the second TP level.. SL at BE or can move behind first TP Level..
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  • #111,074
  • May 1, 2012 11:36pm May 1, 2012 11:36pm
Quoting jarroo
What do I think of this situation, Quezoy? . .freaking beautiful .

I like the 1.2413-1.231 first and foremost, respectively. The 1.2511 has already been tested so we may be done with that level for now.

Daily bearish PA at these levels would add to its confirmation as flipping to Resistance.

Check out the 4 Hour BEOB at these Weekly LCS levels . .nice. . .
Here are my charts on this pair from earlier in week - was looking to go short at 1.2400. My order has expired, but I will probably put it back in.
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  • #111,075
  • May 1, 2012 11:38pm May 1, 2012 11:38pm
Quoting gadogado
EUR/GBP triggered at 0.8178...

Price pullback to LCS Weekly / LCS Monthly and go down... Hit the first TP level, SL to BE... This one got the runner...
Today, Price has hit the second TP level.. SL at BE or can move behind first TP Level..
Well done!!!!!
  • #111,076
  • May 1, 2012 11:39pm May 1, 2012 11:39pm
Quoting gadogado
EUR/GBP triggered at 0.8178...

Price pullback to LCS Weekly / LCS Monthly and go down... Hit the first TP level, SL to BE... This one got the runner...
Today, Price has hit the second TP level.. SL at BE or can move behind first TP Level..
Fantastic gado . . . .I would move my stop above the 1st target and even the 2nd target .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #111,077
  • May 1, 2012 11:41pm May 1, 2012 11:41pm
Quoting mbqb11
watch as many pairs as you can get your hands on. I watch roughly 70-80 FX pairs and 3000 weekly stock charts. Why? I can be as picky as I want cause their is always another pair to check. I see every single week in my inbox someone who watches only 5-10 pairs because they want to "feel the rhythm and learn how that pair breathes" As a newbie this is largely useless and leads to taking trades you normally wouldn't because patience gets highly tested. Again this doesn't mean watching only a handful is wrong but if we are trying to be super...
Damn that's allot of stocks! What platform do you use to watch them all? Are stocks basically the same as fx pairs?...I didn't even know you could buy stocks on leverage.
  • #111,078
  • May 1, 2012 11:41pm May 1, 2012 11:41pm
Quoting Donkey
Here are my charts on this pair from earlier in week - was looking to go short at 1.2400. My order has expired, but I will probably put it back in.
Absolutely D . . . .but if Price hits the 1.2413 . . to the pip!!! . .you'll know why . . lol . .
Indicators show the past. Price Action "Indicates" the future.
  • #111,079
  • May 1, 2012 11:46pm May 1, 2012 11:46pm
Quoting beebolbod
ah thanks m8, but i said largely the same as you really.
Thanks a lot Mike and Beebolbod,
as always your answers are very helpful
Slow & steady
  • #111,080
  • May 1, 2012 11:56pm May 1, 2012 11:56pm
Quoting Donkey
Well done!!!!!
thanks sir.. Your trade is much better than mine. I'm following and study your post and chart too.

Quoting jarroo
Fantastic gado . . . .I would move my stop above the 1st tartget and even the 2nd target .

Jim
Thank's sir.

Does you mean when it hit 2nd target level, I can move SL above 2nd target? if yes, I can imagine it, might you explain it sir?

My current thought for moving SL to 2nd target is when price close below the 2nd target level.
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