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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

  • #111,881
  • May 17, 2012 9:31pm May 17, 2012 9:31pm
One of James' very first examples in this thread. demo'ing it.

what a crazy week.
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Many choose unhappiness over uncertainty.
  • #111,882
  • May 17, 2012 10:05pm May 17, 2012 10:05pm
Quoting trc
this one made my day

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Classic . .nice one Peter. . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #111,883
  • May 17, 2012 10:28pm May 17, 2012 10:28pm
Quoting trc
Thanks,
I love this too
This is my weekly view on this pair - what you guys think ?

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You're seeing it right, Peter . . I like the 76.81 Weekly HCR level too.

These are strong levels and Price has alot of downward momentum behind it. We should see a bit of a bounce there . .it not . .look out below.

If PBT&CB these levels look for the retrace entry at the same level. .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #111,884
  • May 17, 2012 10:39pm May 17, 2012 10:39pm
Quoting gadogado
Took this one on GBP/USD, price hit SL...
That was a strong level gado .. and Price smashes through it . .wow . .what does that tell you about the down trend or the momentum of the down trend? . .Its pretty freaking strong . .
Indicators show the past. Price Action "Indicates" the future.
  • #111,885
  • May 17, 2012 11:25pm May 17, 2012 11:25pm
Quoting morph
Hi ts - which broker do you use for this chart? I've got 4 hour feeds so that I can see a new 4 hr chart every hour except this one!

Many thanks
Hi Morph,
I use the Broco Demo feed (87.239.184.73:443).
As you can see, price hit the FTA.
Banked in 25 pips.
Sorry for the late reply.
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  • #111,886
  • May 17, 2012 11:40pm May 17, 2012 11:40pm
Im thinking that wont close like that jim

Quoting jarroo
Hey aserb.

These levels (HCR/LCS) can be very powerful when Price Breaks Through & Closes Above or Below them . . . .but also as an initial touch as your 4 Hour chart shows.

Many times these levels will cause Price to . .of course . .. Bam! but they will also be the High or Low of the Day or Week. . .I'll have to update this EurCad chart tomorrow and call the 1.2782 the Low of the Week . .may be even the Month Low . . only time will tell.


What does your 4 Hour chart and this Weekly chart have in common? Both are Deep Swing points...
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,887
  • May 18, 2012 12:01am May 18, 2012 12:01am
Quoting Bones
Im thinking that wont close like that jim
Close like what? . .I think the 1.2782 has a good chance of closing at the week's Low . .
Indicators show the past. Price Action "Indicates" the future.
  • #111,888
  • May 18, 2012 1:11am May 18, 2012 1:11am
Can somebody explain to me what happened on USD/JPY. Why this sudden move down?

It allready penetrated W level and BRN, but crawled back up, touching a previous daily swing low and boom - big move down through weekly level, BRN and all that traffic.
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Thoughts are things
  • #111,889
  • May 18, 2012 1:24am May 18, 2012 1:24am
I have never seen a pair more volatile that GC. It moves 50 pips up and down in a matter of seconds pretty much ever 30 mins or so. expert scalpers must love this pair.
  • #111,890
  • May 18, 2012 1:26am May 18, 2012 1:26am
Quoting Quezoy
Can somebody explain to me what happened on USD/JPY. Why this sudden move down?

It allready penetrated W level and BRN, but crawled back up, touching a previous daily swing low and boom - big move down through weekly level, BRN and all that traffic.
It's called Head & shoulder pattern. Once the neck line is broken and confirmed, price sink by the same height it went up (forming the head).
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  • #111,891
  • May 18, 2012 2:16am May 18, 2012 2:16am
I hope so Jim cause I added and there under water ha ha

Quoting jarroo
Close like what? . .I think the 1.2782 has a good chance of closing at the week's Low . .
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,892
  • May 18, 2012 2:41am May 18, 2012 2:41am
German DAX H4
Prepare your buy stops.
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  • #111,893
  • May 18, 2012 2:46am May 18, 2012 2:46am
Quoting Bones
I hope so Jim cause I added and there under water ha ha

Well, I had the High for the Week at the 1.2963-1.2941 Weekly LCS levels ..looks like the Daily LCS level 1.2954 was more accurate.

Did you add up there . .?
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Indicators show the past. Price Action "Indicates" the future.
  • #111,894
  • May 18, 2012 3:34am May 18, 2012 3:34am
Quoting trc
Thanks,
I love this too
This is my weekly view on this pair - what you guys think ?

Attachment

Quoting jarroo
You're seeing it right, Peter . . I like the 76.81 Weekly HCR level too.

These are strong levels and Price has alot of downward momentum behind it. We should see a bit of a bounce there . .it not . .look out below.

If PBT&CB these levels look for the retrace entry at the same level. .

Jim

We are not surprised . .are we Peter . .Bam!! . . 77.44 ( or your 77.46). . to the pip!!!

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #111,895
  • May 18, 2012 3:35am May 18, 2012 3:35am
Took this Bearish Outside bar at the break ...

1 ) Space

2 ) Absolute swing high

3 ) Good size

4 ) RN 1.02

5 ) Fib Extension Hundred !!!

Lets see
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Human
  • #111,896
  • May 18, 2012 3:52am May 18, 2012 3:52am
Quoting Chanya
Took this Bearish Outside bar at the break ...

1 ) Space

2 ) Absolute swing high

3 ) Good size

4 ) RN 1.02

5 ) Fib Extension Hundred !!!

Lets see
I was also observing this pair. You will be successful my dear. I am sure!
Price Is The Best Indicator Itself.
  • #111,897
  • May 18, 2012 3:56am May 18, 2012 3:56am
Quoting Chanya
Took this Bearish Outside bar at the break ...

1 ) Space

2 ) Absolute swing high

3 ) Good size

4 ) RN 1.02

5 ) Fib Extension Hundred !!!

Lets see
Looks very tempting but be careful. CAD has CPI number coming in a couple of hours. Might want to adjust your stop accordingly as it might move around alot.

Best,
-H
  • #111,898
  • May 18, 2012 4:26am May 18, 2012 4:26am
Quoting mbqb11
gone ahead and locked in more profit will just let it run now
trade now closed
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  • #111,899
  • May 18, 2012 4:27am May 18, 2012 4:27am
Quoting jarroo
Hey aserb.

These levels (HCR/LCS) can be very powerful when Price Breaks Through & Closes Above or Below them . . . .but also as an initial touch as your 4 Hour chart shows.

Many times these levels will cause Price to . .of course . .. Bam! but they will also be the High or Low of the Day or Week. . .I'll have to update this EurCad chart tomorrow and call the 1.2782 the Low of the Week . .may be even the Month Low . . only time will tell.


What does your 4 Hour chart and this Weekly chart have in common? Both are Deep Swing...
miss this one... Price react perfectly...
  • #111,900
  • May 18, 2012 4:32am May 18, 2012 4:32am
Quoting jarroo
That was a strong level gado .. and Price smashes through it . .wow . .what does that tell you about the down trend or the momentum of the down trend? . .Its pretty freaking strong . .
Yes, sir. It's very strong.

Price close below it and will flip to resistance. But it go down further without taking my entry on the retrace at that level. Canceled it. Now it just do perfect act as resistance and perfectly hit first target level.
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