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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

  • #112,441
  • Edited 7:21am May 30, 2012 7:04am | Edited 7:21am
Quoting Rust
I think the forum automatically converts pics to jpg , when they are bigger.

Hmm, that is interesting.

Thanks Rust.

Trying this image saved as Active Chart

I think this is the PB you mentioned on Gold.

EDIT: Yes, it is now uploaded as a GIF file.

Thanks folks.
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  • #112,442
  • May 30, 2012 7:25am May 30, 2012 7:25am
Quoting Pinbar
Hmm, that is interesting.

Thanks Rust.

Trying this image saved as Active Chart

I think this is the PB you mentioned on Gold.

EDIT: Yes, it is now uploaded as a GIF file.

Thanks folks.
Much clearer now

Yes that was the pin. caused some debate. hehe.
  • #112,443
  • May 30, 2012 7:30am May 30, 2012 7:30am
Quoting jarroo
Hey mbarker . .here's what we got . .


We have a nice build of Resistance on the Weekly and Daily.

We have a Weekly Highest Close of Resistance (HCR) level and a Triple Action HCR level (3 HCR level lining up at the same level . .pretty close) on the Daily.

Price has now Broke Through and Closed Above these levels on the Weekly and Daily TFs. . These strong Resistance levels and have good chance of "flpipping" to a strong Support level . .correct?

So a Touch Trade at these levels long is very possible . .Or . .we can get better...
And to add to this view.... another subject altogether is trend channels but briefly, quite often we get inner and outer lines (pitchfork etc). This one illustrates it wonderfully AND when we line up Jims HCR we can see that we MAY (i hope we do) get a retrace (in line with the channel following) to our centre line, which lines up SUPERBLY with Jims line.
So i've got with a small short down to there where we hope/expect to find resistance and then go long again. Have to watch the approach of course as it may drop to the outer line.... another story.

Lets see...

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  • #112,444
  • May 30, 2012 8:33am May 30, 2012 8:33am
Quoting beebolbod
And to add to this view.... another subject altogether is trend channels but briefly, quite often we get inner and outer lines (pitchfork etc). This one illustrates it wonderfully AND when we line up Jims HCR we can see that we MAY (i hope we do) get a retrace (in line with the channel following) to our centre line, which lines up SUPERBLY with Jims line.
So i've got with a small short down to there where we hope/expect to find resistance and then go long again. Have to watch the approach of course as it may drop to the outer line.... another story.

Lets...
I just realised i'm missing some lines from that chart (i usually have a separate chart for geometry) so i've added what i missed and added some shapes i love on this pair.
You can see the PA around this channel superbly. I think we may see another H&S type thing where we are now. And if price does come back to the major R we hope is now S (green line) then it might/should be slap bang in the middle of a sub channel, which is where i would look to set up a long.

But this is all conjecture and hypothesis of course

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  • #112,445
  • May 30, 2012 8:38am May 30, 2012 8:38am
Is this a valid breakout? Any comment on the trade please?
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" The fool who never traded Demo "
  • #112,446
  • May 30, 2012 8:48am May 30, 2012 8:48am
Quoting AmareX
Is this a valid breakout? Any comment on the trade please?
looks good to me. closing the gap.
  • #112,447
  • May 30, 2012 9:11am May 30, 2012 9:11am
Quoting AmareX
Is this a valid breakout? Any comment on the trade please?
Looks very good to me. It's a break of a box as well, if you could see it
You have a nice PPZ (the bottom of the box) to protect you now.

Good luck !
  • #112,448
  • May 30, 2012 9:14am May 30, 2012 9:14am
Quoting Rust
Looks very good to me. It's a break of a box as well, if you could see it
You have a nice PPZ (the bottom of the box) to protect you now.

Good luck !
Yeah now I see it, Thank you
" The fool who never traded Demo "
  • #112,449
  • May 30, 2012 9:28am May 30, 2012 9:28am
chart.
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Many choose unhappiness over uncertainty.
  • #112,450
  • May 30, 2012 9:31am May 30, 2012 9:31am
Quoting Dan Gilbert
chart.
oh ya baby been watching this for a LONG time. See if we bounce and wind up more or possible breakout coming

http://www.forexfactory.com/showthre...73#post5418573
  • #112,451
  • May 30, 2012 9:34am May 30, 2012 9:34am
bunch of stuff out there I am watching, and just waiting to see if they develop

Intraday here, see if price can get above that BRN

Divergence, price squeezing. Could get a "pop" if we get above both the TL and BRN
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  • #112,452
  • May 30, 2012 12:59pm May 30, 2012 12:59pm
Hi Mike, what do think about AUD CHF? i took this setup (div, pin bar etc.) but what would you do next more in this case?
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thank you very very much for this post http://www.forexfactory.com/showthre...65#post5700865
my trade (on the attached picture) it's all your merit, i would have not been able to.
sorry my bad english.
  • #112,453
  • May 30, 2012 1:54pm May 30, 2012 1:54pm
Quoting fafarafa
Hi Mike, what do think about AUD CHF? i took this setup (div, pin bar etc.) but what would you do next more in this case?
Attachment

thank you very very much for this post http://www.forexfactory.com/showthre...65#post5700865
my trade (on the attached picture) it's all your merit, i would have not been able to.
sorry my bad english.
that looks great to me Fafar

I have my stop in the same place too, markets close to taking out but holding for now

Nice job

Mike
  • #112,454
  • May 30, 2012 2:13pm May 30, 2012 2:13pm
Quoting 5.25
5 pips!? You're getting sloppy Jim. Maybe it was the spread?
Quoting jarroo
lol . . .back at you , T . .
Here's one I took, bit of a Jarroo (Execution) and Mbqb11 (Story) hybrid.

1) Obvious trendline showing loss of momentum
2) Price consolidates with minor compression. Bar close below trendline (not enough to enter) showing signs of weakness.
3) Clear break and strong close below a recent HCR, consolidation area AND 1.600 BRN
4) Entry on retest at 1.6025 before the break to the down side
5) 18 pip draw down to an 84pip gain

T
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  • #112,455
  • May 30, 2012 2:43pm May 30, 2012 2:43pm
CADCHF is breaking through 0.9400... stp below DBLHC trgt ~0.9600.
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all is eternal - this is good news for people who loves bad news
  • #112,456
  • May 30, 2012 2:55pm May 30, 2012 2:55pm
EUR/CAD

breaking the important support down

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  • #112,457
  • May 30, 2012 2:59pm May 30, 2012 2:59pm
Quoting 5.25
Here's one I took, bit of a Jarroo (Execution) and Mbqb11 (Story) hybrid.

1) Obvious trendline showing loss of momentum
2) Price consolidates with minor compression. Bar close below trendline (not enough to enter) showing signs of weakness.
3) Clear break and strong close below a recent HCR, consolidation area AND 1.600 BRN
4) Entry on retest at 1.6025 before the break to the down side
5) 18 pip draw down to an 84pip gain

T
Wanted to ask such a question so many times, and your post is the perfect picture of what I would like to know. Help of any senior member in this one situation will be my best wish of all . The question is in the chart.
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If not up, then down, otherwise sideways :-)
  • #112,458
  • Edited 3:32pm May 30, 2012 3:19pm | Edited 3:32pm
Quoting Magestic
Wanted to ask such a question so many times, and your post is the perfect picture of what I would like to know. Help of any senior member in this one situation will be my best wish of all . The question is in the chart.

Quick answer . . The HCR level is a stronger level than those Lows once PBT&CB it.
Indicators show the past. Price Action "Indicates" the future.
  • #112,459
  • May 30, 2012 3:25pm May 30, 2012 3:25pm
Quoting 5.25
Here's one I took, bit of a Jarroo (Execution) and Mbqb11 (Story) hybrid.

1) Obvious trendline showing loss of momentum
2) Price consolidates with minor compression. Bar close below trendline (not enough to enter) showing signs of weakness.
3) Clear break and strong close below a recent HCR, consolidation area AND 1.600 BRN
4) Entry on retest at 1.6025 before the break to the down side
5) 18 pip draw down to an 84pip gain

T
awesome T, you are getting good at this stuff
  • #112,460
  • May 30, 2012 3:26pm May 30, 2012 3:26pm
Quoting 5.25
Here's one I took, bit of a Jarroo (Execution) and Mbqb11 (Story) hybrid.

1) Obvious trendline showing loss of momentum
2) Price consolidates with minor compression. Bar close below trendline (not enough to enter) showing signs of weakness.
3) Clear break and strong close below a recent HCR, consolidation area AND 1.600 BRN
4) Entry on retest at 1.6025 before the break to the down side
5) 18 pip draw down to an 84pip gain

T

Very nice Tomek . . .

This why Mike's stuff is so great . .I admit, I'm more of a James16 S/R trader (and a James16 PA trader too) but more so S/R trading.

Then you add Mike's stuff and the picture of the Bigger story starts looking clearer and more readable. . .

Here's my chart ..we could have caught it a bit earlier but the story is the same . .
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Indicators show the past. Price Action "Indicates" the future.
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