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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

  • #112,481
  • May 30, 2012 5:41pm May 30, 2012 5:41pm
What do you's think of this XAG Pin bar? I'm still learning and wouln't mind some input. cheers.
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  • #112,482
  • May 30, 2012 5:44pm May 30, 2012 5:44pm
These Monthly Double Barrels, have got my attention.
As much as I would like to see JPY continue to get stronger for personal reasons.
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  • #112,483
  • May 30, 2012 6:04pm May 30, 2012 6:04pm
Quoting Pinbar
These Monthly Double Barrels, have got my attention.
As much as I would like to see JPY continue to get stronger for personal reasons.
That's a great level Pinbar on the AudJpy . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,484
  • May 30, 2012 6:23pm May 30, 2012 6:23pm
Personally, I do not trade silver.

But we can see that it is winding up for something on the monthly.

The Monthly & Weekly LCS looks strong but, we did not see much of a reaction here yet.

Flagging also on the daily.

I am leaning more towards a retest of the wedge upper area.
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  • #112,485
  • Edited 7:54pm May 30, 2012 6:24pm | Edited 7:54pm
Quoting jarroo
That's a great level Pinbar on the AudJpy . .
Yes, it even got my attention. LOL

Thanks Jim

EDIT:

I like the WLCS confluencing with the MLCS at 74.41
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  • #112,486
  • May 30, 2012 8:56pm May 30, 2012 8:56pm
Quoting mbqb11
Hey Yehuda

Everything is still the same, notice the bottom of the consolidation box holding. A break of the top of the box should get us to the next boxed area.

Best
Mike
Hi Mike,

Need your advise, Euro has been break out the SHS formation on The weekly TF,
The target set up is about 1.18xx area and 1.12xx area, what is your view mike on this EU and please advise, your opinion is very much appreciated to me

Cheer,
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  • #112,487
  • May 30, 2012 9:14pm May 30, 2012 9:14pm
Quoting mrhb30jr
Hi Mike,

Need your advise, Euro has been break out the SHS formation on The weekly TF,
The target set up is about 1.18xx area and 1.12xx area, what is your view mike on this EU and please advise, your opinion is very much appreciated to me

Cheer,
Hey MR

Could be. The market looks like it wants to retest that major swing low from 2010

Best
Mike
  • #112,488
  • May 30, 2012 9:20pm May 30, 2012 9:20pm
Quoting mbqb11
Hey MR

Could be. The market looks like it wants to retest that major swing low from 2010

Best
Mike
Hi Mike,

Noted with thanks ...

Cheers
  • #112,489
  • May 31, 2012 5:04am May 31, 2012 5:04am
GBP/CAD

BRN 1.5900 has held, 38,2% Fib ret. and pin on H4

what do you think guys?

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  • #112,490
  • Edited 6:21am May 31, 2012 6:09am | Edited 6:21am
Quoting mbqb11
yep still holding, likely lock in some more profit end of this month

Best
Mike
Hey Mike , How are you ?

As far as I know , the common way of managing the trade here at J16 ( To the best of my knowledge ) is to trail the stop at the break of a PPZ . So , in reference to your USD CHF weekly pin trade , look at the chart below and plz tell me , why did you not move your stops at the break of the PPZ I marked as blue zone ..?? Because if you had moved your stops when price broke through , you would have been stops out by now but you are still in ... How are you managing it ?


And also , another question , you are almost 2000 pips up only with this trade , so , TREAT ?
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Human
  • #112,491
  • May 31, 2012 7:04am May 31, 2012 7:04am
Quoting Chanya
Hey Mike , How are you ?

As far as I know , the common way of managing the trade here at J16 ( To the best of my knowledge ) is to trail the stop at the break of a PPZ . So , in reference to your USD CHF weekly pin trade , look at the chart below and plz tell me , why did you not move your stops at the break of the PPZ I marked as blue zone ..?? Because if you had moved your stops when price broke through , you would have been stops out by now but you are still in ... How are you managing it ?


And also , another question , you are...
Hey Chanya

There is not one way to manage a trade. I use a variety of methods from managing my trades. Mostly just using the same type of information and logic we apply to our exits. This is part of the learning process just like we learn for our entries what works. I have to run but i'll come back and explain deeper most likely early next week as I have some personal stuff to attend to

Best
Mike
  • #112,492
  • May 31, 2012 7:05am May 31, 2012 7:05am
Quoting mbqb11
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
updated chart, pretty textbook
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  • #112,493
  • May 31, 2012 7:25am May 31, 2012 7:25am
Broke out of box on downside with a beob.Counts down to 74.55 with trouble areas at 75.74,74.95,74.44
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Conquer the beast with disciplined determination and intellegent control.
  • #112,494
  • May 31, 2012 8:37am May 31, 2012 8:37am
Hi Guys
I set my orders last night and then came home from work to find the results below
I had a sell order on Gold at the HCR level of 1572 and as it has traded sideways for a few days with a strong support level building I took full profits at the FTA which was 1557.
As you can see by the hourly signature chart in the words of JIm it was to the pip bam.

The second trade i set orders for was on the Aud/usd the daily candle closed below the LCS and I set my orders to sell at that level, strong down trend think its going lower. I had the FTA marked at the low of the candle of the LCS level at 9690 where I closed 50% of the trade and will let 50% ride.

However when you check the hourly signature on this trade it would have been a small loser as had I not been at work would have closed the trade for a 15 point loss when the hourly bar closed above the the entry level.

really enjoying learning this Jim
Thank you.
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  • #112,495
  • May 31, 2012 10:32am May 31, 2012 10:32am
I believe we'll get daily BUOB before todays closure on audchf...nice ppz + fib + monthly close + small monthly pin...FTA is 0.9500(round, high, 50% fib) lvl, so very close - i'm gonna be very careful...
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  • #112,496
  • May 31, 2012 1:38pm May 31, 2012 1:38pm
Quoting bullzeye
GBP/CAD

BRN 1.5900 has held, 38,2% Fib ret. and pin on H4

what do you think guys?

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Hi bullzeye
I think that you should be very carefully with that kind of pin bar...it cames right after a strong bearish reaction that broke directly through BRN 1.60 and compare with that BEOB it is a really tiny pin bar !
Nothing personal,just business
  • #112,497
  • May 31, 2012 1:40pm May 31, 2012 1:40pm
AUDNZD- Daily or 2D

continues trend? ( Long )
Round Number, Fibo , Pb.
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  • #112,498
  • May 31, 2012 1:43pm May 31, 2012 1:43pm
My first 2 demo trades have taken off as I would have liked. Views would be appreciated on next steps. Here are my views:-

USDJPY
TP now moved behind the trendline locking in 70 pips profit. Price initially rejected off 77.3 (no surprise with all those bar highs). I see 76 being my ultimate target with this trade (a nice healthy 400 pips). If I can get a close below 77.3 I will move stop just behind that area and lock in more profit. Another option would be to trail the bars or the trendline down- would like some views.

CADJPY
Day 1 done exactly as I hoped, 75 was my target with this trade and price nearly got there today and is now slightly retracing. My stop is at be anyway so a free trade. I am a bit more unsure about managing this one. Thinking of trailing the bars with an ultimate get out at 75. Again, thoughts appreciated.

Overall 300 pips up (70 locked in) in my first week of demo. Either Im very lucky or the hours of reading and reading this great forum are starting to pay-off.

Many thanks
M
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  • #112,499
  • May 31, 2012 2:16pm May 31, 2012 2:16pm
Quoting millions
My first 2 demo trades have taken off as I would have liked. Views would be appreciated on next steps. Here are my views:-

USDJPY
TP now moved behind the trendline locking in 70 pips profit. Price initially rejected off 77.3 (no surprise with all those bar highs). I see 76 being my ultimate target with this trade (a nice healthy 400 pips). If I can get a close below 77.3 I will move stop just behind that area and lock in more profit. Another option would be to trail the bars or the trendline down- would like some views.

CADJPY
Day 1 done exactly...
Very nice Buddy , Little advice , Remove the grid from your charts , it would make them alot easier to look at ... Instead , if you prefer , use grid indicator to show round numbers ....
Human
  • #112,500
  • May 31, 2012 2:20pm May 31, 2012 2:20pm
Quoting millions
My first 2 demo trades have taken off as I would have liked. Views would be appreciated on next steps. Here are my views:-

USDJPY
TP now moved behind the trendline locking in 70 pips profit. Price initially rejected off 77.3 (no surprise with all those bar highs). I see 76 being my ultimate target with this trade (a nice healthy 400 pips). If I can get a close below 77.3 I will move stop just behind that area and lock in more profit. Another option would be to trail the bars or the trendline down- would like some views.

CADJPY
Day 1 done exactly...
What are your entries based on ? I cant quite figure it out !!
Human
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