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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

  • #113,781
  • Jun 28, 2012 5:29am Jun 28, 2012 5:29am
Quoting forextrini1
anyone following the aussie? I need a more indebt analysis. Double high lower close just completed on the 8 hour chart, but there a small sorta pinbar that formed around the 25th on the 8 hour and daily charts.
1.0000 looks a good number.
  • #113,782
  • Jun 28, 2012 5:36am Jun 28, 2012 5:36am
Quoting 5.25
It's effectively a false breakout, which is why I never trade a pure breakout. Nial Fuller just branded it differently.

Pure breakout traders are on the back foot and puke their orders when they see price moving away. That's when you can get a nice Pin Bar or a BEOB/BUOB to lead you the way, usually after some consolidation. It's all here, only in simplified terminology
Got it, thx :-)
  • #113,783
  • Jun 28, 2012 5:36am Jun 28, 2012 5:36am
Quoting forextrini1
anyone following the aussie? I need a more indebt analysis. Double high lower close just completed on the 8 hour chart, but there a small sorta pinbar that formed around the 25th on the 8 hour and daily charts.
I'm watching this pair as well. Notice the pinbar you noticed, while small formed at parity....one of the best locations to watch for PA on any chart. There's also a rising trend lined. The DBHLC could be an indicator of a move back down for another test of 1.000. I'm personally going to wait and see if price does comeback to 1.000. On a 4H chart the ppz at 1.000 looks very clean to me.
  • #113,784
  • Jun 28, 2012 5:39am Jun 28, 2012 5:39am
Quoting Greenhaze

Anybody got that EG short on H4/D1 pullback?
Yeah im watching EG and AU. Missed the pullbacks but i think even a nice BEOB whould be nice. A close below 1.000 on AU would be nice.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #113,785
  • Jun 28, 2012 5:59am Jun 28, 2012 5:59am
Quoting Donkey
I'm watching this pair as well. Notice the pinbar you noticed, while small formed at parity....one of the best locations to watch for PA on any chart. There's also a rising trend lined. The DBHLC could be an indicator of a move back down for another test of 1.000. I'm personally going to wait and see if price does comeback to 1.000. On a 4H chart the ppz at 1.000 looks very clean to me.
Is parity the same as BRN?
  • #113,786
  • Edited 6:14am Jun 28, 2012 6:03am | Edited 6:14am
Not really, it simply means for example that 1USD=1CAD
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  • #113,787
  • Jun 28, 2012 6:40am Jun 28, 2012 6:40am
Quoting jerbersoftfx
Hi guys, I have been reading the contents of this thread (has not read all unfortunately). I have gained a lot from the discussions. Thanks to Jim and the senior members of this thread. Thanks also for those who are contributing. I want to share what I see from the USDNOK pair.

if you see the daily chart of USDNOK (see attachment), you can see clearly that it is forming a Head-and-Shoulder pattern. We also have a resistance at the 6.0500 level which was touched yesterday.

If the price continues to go down today, we might have a bearish IB....
Hey Jer

Welcome to the thread, hope it helps you out

I'd be cautious in this area. I basically see us in one big box. I think it's a bit of a stretch to call it a H&S. I am pretty picky about my breakout type patterns though especially H&S. I do agree that it is a potential resistance point and glad you were waiting for some confirmation. That's great and what you should do.

Here is how I see it in terms of Boxing.

Again welcome!

Mike
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  • #113,788
  • Jun 28, 2012 6:44am Jun 28, 2012 6:44am
Quoting ricosta
Yes but somehow the notification doesn't work in my MT4 so I only get the sound alarm and I don't know which chart it is on. There is another alarm indicator which shows notification but doesn't show me which chart it is on duh. To date I have set the interesting charts to be daily and kept the not interesting to weekly. This way I can see in the tabs which ones to look at. Its a crutch though.

R
I've posted a good alarm indy here:
http://www.forexfactory.com/showthre...03#post5792203
Thoughts are things
  • #113,789
  • Jun 28, 2012 6:52am Jun 28, 2012 6:52am
Quoting Pinbar
Not really, it simply means for example that 1USD=1CAD
That has been an AHA moment right here. I finally figured out what those little numbers on the right actually mean. lol. Is parity always 1? If so it only happens on some pairs and not very often right?
  • #113,790
  • Jun 28, 2012 6:54am Jun 28, 2012 6:54am
Quoting ricosta
That has been an AHA moment right here. I finally figured out what those little numbers on the right actually mean. lol. Is parity always 1? If so it only happens on some pairs and not very often right?
yep parity is always when both currencies against each other equal 1.

Some pair is always usually near parity, but if a pair is far away from parity it can be very rare

Best
Mike
  • #113,791
  • Jun 28, 2012 6:55am Jun 28, 2012 6:55am
Quoting Quezoy
I've posted a good alarm indy here:
http://www.forexfactory.com/showthre...03#post5792203
  • #113,792
  • Jun 28, 2012 7:00am Jun 28, 2012 7:00am
I just started playing with Autochartist. It shows emerging patterns which then could be further analysed and checked for confluence.

What you guys think? Is there any consent about http://www.autochartist.com? Any of you using it as a tool to find possible setups? If yes how, if not why not?
  • #113,793
  • Jun 28, 2012 8:23am Jun 28, 2012 8:23am
Quoting aserbfx
oh yes...
Thanks for the heads up Aser. In on the retrace at 2.800ish, all out at FTA 2.650. It did it's thing, not relying on hope

T
  • #113,794
  • Jun 28, 2012 8:30am Jun 28, 2012 8:30am
Quoting 5.25
Thanks for the heads up Aser. In on the retrace at 2.800ish, all out at FTA 2.650. It did it's thing, not relying on hope

T
Right to where we would expect. I wonder who got in on the retrace that would have been nice. If price can close under the FTA , the next area is very likely


James16 stuff pretty cool
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  • #113,795
  • Jun 28, 2012 8:30am Jun 28, 2012 8:30am
Quoting ricosta
I just started playing with Autochartist. It shows emerging patterns which then could be further analysed and checked for confluence.

What you guys think? Is there any consent about http://www.autochartist.com? Any of you using it as a tool to find possible setups? If yes how, if not why not?
I just started to check it out a couple days ago... it's free with my forex.com account, but I can't comment on whether it works or not... it does show chart patters, but mostly on 4H and below.
  • #113,796
  • Jun 28, 2012 8:32am Jun 28, 2012 8:32am
Not sure if anyone looks at the swing high and low points, very useful in a trend. The GBPUSD is now in downtrend on the daily chart.
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  • #113,797
  • Jun 28, 2012 8:41am Jun 28, 2012 8:41am
Quoting mbqb11
Right to where we would expect. I wonder who got in on the retrace that would have been nice. If price can close under the FTA , the next area is very likely


James16 stuff pretty cool
Precisely why one trader's stats can be different to another's. Entry on bar close, retrace or break? All out at FTA, hold or scale out? No trade is the same, market conditions vary.

I second that Mike, James16 rocks
  • #113,798
  • Jun 28, 2012 9:29am Jun 28, 2012 9:29am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Hi,

Watching this chart, BUOB forming at the moment (obviously will wait for close but just putting it out there if it closes in a similar location) would probably look for entry maybe at retrace to 80.000, down to the area marked in red which i have identified as the FTA (either move stop to b/e or take full profit) if move stop to b/e would aim for final target at 78.000. Lets see how it plays out I guess

Kind Regards
Sanil
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  • #113,799
  • Jun 28, 2012 9:35am Jun 28, 2012 9:35am
Quoting ricosta
Is parity the same as BRN?
Parity is basically the BRN of 1.000....the point on the chart where the
Currencies have equal value.
  • #113,800
  • Jun 28, 2012 9:45am Jun 28, 2012 9:45am
Quoting C-12
On it like a tiger. Could be a longer term move down towards 0.72... A lot of empty space below 0.78!
EUR/GBP

i see a big support zone on your weekly chart, its gonna be hard to break that one... i am long for a few pips after a double bottom on H4, SL already to BE

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