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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

  • #111,421
  • May 8, 2012 5:24am May 8, 2012 5:24am
Quoting jarroo
Hey Caesar,

Let me see if I understand your question correctly . .

Whenever a Daily PBT&CA/B a HCR/LCS level setup appears...you will move down to H4, H1 charts or trade straight off that Daily level. Yes, that's correct.

There isn't much difference with the Hourly, 4 Hour or Daily PA confirmation because I'm trading off the Daily level on a lower TF.

The advantages are that I'm trading off the actual level that the Daily PA formed from . .meaning by the time a Daily PA setup is formed . .if one forms at all . . I could already...
Same with the UsdChf . . .(sorry for the messy chart)
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Indicators show the past. Price Action "Indicates" the future.
  • #111,422
  • May 8, 2012 5:29am May 8, 2012 5:29am
Quoting Magestic
I think it doesn't engulf previous candle body.So its not a BUOB
Hi guys - I'd like to clarify this as well, does a BUOB have to engulf the prior bar's high's and low's with its own high's and low's, or is it just the engulfing of opens and close levels only (in which case, then the GU BUOB is valid, otherwise its not)?

There another 'buob lookalike' on AUDCAD - would this be a valid BUOB? I'm not sure it is as its close is below the prior bar's open/close levels...

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  • #111,423
  • May 8, 2012 5:32am May 8, 2012 5:32am
Yes Jim im thinking that pin ,its not real



Quoting jarroo
Hey Caesar,

Let me see if I understand your question correctly . .

Whenever a Daily PBT&CA/B a HCR/LCS level setup appears...you will move down to H4, H1 charts or trade straight off that Daily level. Yes, that's correct.

There isn't much difference with the Hourly, 4 Hour or Daily PA confirmation because I'm trading off the Daily level on a lower TF.

The advantages are that I'm trading off the actual level that the Daily PA formed from . .meaning by the time a Daily PA setup is formed . .if one forms at all . . I could already...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,424
  • May 8, 2012 5:33am May 8, 2012 5:33am
Quoting Donkey
Yes the bar is still valid until the high is taken out. The pin looked "weak" on my feed without much space (more space higher in my opinion)...price seems to stalling after breaking consolidation, maybe profit taking on Friday.

Charts below are how i'm currently watching this pair. I see the weekly close above two important weekly HCR/LCS (jarroo) levels and the RN 1.6300. I'd personally like to see price drop down to 1.628-1.6300 before making another run at 1.6500 and maybe higher.

All that to say, I think you played that one correctly...
You NAILED it, D . . .

That's what caused the Daily PB to stall and reverse . . .The Weekly LCS level, 1.6362. I don't think Price even felt those Daily PB targets . .lol.

PBT&CA these Weekly levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #111,425
  • May 8, 2012 5:39am May 8, 2012 5:39am
Quoting Bones
Yes Jim im thinking that pin ,its not real

(UsdChf)


A stronger close below that Highsest Close of Resistance level would have made it work.

But it couldn't Close below that previous Resistance level . . . Why? . .because PBT&CA turning it into Support. .
Indicators show the past. Price Action "Indicates" the future.
  • #111,426
  • May 8, 2012 5:41am May 8, 2012 5:41am
Quoting jarroo
(UsdChf)


A stronger close below that Highsest Close of Resistance level would have made it work.

But it couldn't Close below that previous Resistance level . . . Why? . .because PBT&CA turning it into Support. .
Oh . .Yes . .the EurUsd too (Bullish PB). .
Indicators show the past. Price Action "Indicates" the future.
  • #111,427
  • May 8, 2012 5:46am May 8, 2012 5:46am
Hope you guys weren't playing the gaps on those pairs . .(damn you gaps . .)
Indicators show the past. Price Action "Indicates" the future.
  • #111,428
  • May 8, 2012 5:49am May 8, 2012 5:49am
im short till it breaks ,res
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  • #111,429
  • May 8, 2012 5:55am May 8, 2012 5:55am
Quoting Bones
im short till it breaks ,res
A Daily Close below the 1.3029 Lowest Close of Support level could bring some more downward movement indeed.

If Price Closes above this level on the Daily . could definitely see Price going up.
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Indicators show the past. Price Action "Indicates" the future.
  • #111,430
  • May 8, 2012 5:58am May 8, 2012 5:58am
NZD is bearish I feel
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  • #111,431
  • May 8, 2012 6:06am May 8, 2012 6:06am
Quoting Bones
Support in danger ,cad tricky currency

EudCad is working nicely, Bones . .I still don't know why you think the cad is "tricky" and "hard work".
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Indicators show the past. Price Action "Indicates" the future.
  • #111,432
  • May 8, 2012 6:10am May 8, 2012 6:10am
call me tony jim much respect for you
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  • #111,433
  • May 8, 2012 6:15am May 8, 2012 6:15am
Just dont like cad Jim ,difficult for me cheeky ,bit like me
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  • #111,434
  • May 8, 2012 6:15am May 8, 2012 6:15am
Quoting Bones
call me tony jim much respect for you

Ok Tony . .I like your charts too . . . .we have the same ideas, just different levels. .
Indicators show the past. Price Action "Indicates" the future.
  • #111,435
  • May 8, 2012 6:20am May 8, 2012 6:20am
Quoting Bones
Just dont like cad Jim ,difficult for me cheeky ,bit like me

I understand . . very choppy now . .just have to take those profits quick . .
Indicators show the past. Price Action "Indicates" the future.
  • #111,436
  • May 8, 2012 6:21am May 8, 2012 6:21am
Quoting Magestic
I think it doesn't engulf previous candle body.So its not a BUOB
How not, white candle clearly engulfs the red one. I drew lines.
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Thoughts are things
  • #111,437
  • May 8, 2012 6:26am May 8, 2012 6:26am
Quoting Bones
NZD is bearish I feel
I like those levels too, Tony . .1.6600ish

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #111,438
  • May 8, 2012 6:27am May 8, 2012 6:27am
Quoting Quezoy
How not, white candle clearly engulfs the red one. I drew lines.

You forgot that these candle has to engulf previous candle totally (from bottom to the top) and it has to be closed above the previous candle high.

Quoting james16
New Chart
And also
http://www.forexfactory.com/attachme...9&d=1236359390
If not up, then down, otherwise sideways :-)
  • #111,439
  • May 8, 2012 6:31am May 8, 2012 6:31am
Jim im not trading ,but I think weekly is bearish set up ,I totally see support and upper target
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  • #111,440
  • May 8, 2012 6:38am May 8, 2012 6:38am
Yes NZD and AUD are sell

Quoting jarroo
I like those levels too, Tony . .1.6600ish

Jim
On-site guru & also FF member's' psychiatrist, when not drinking tea
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