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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

  • #113,801
  • Jun 28, 2012 11:47am Jun 28, 2012 11:47am
EUR/AUD

nice DBLHC on H4

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  • #113,802
  • Jun 28, 2012 12:57pm Jun 28, 2012 12:57pm
im in here...
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  • #113,803
  • Jun 28, 2012 1:57pm Jun 28, 2012 1:57pm
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.

Honestly, this is the first time i heard of the term parity. The aussie is down to 1.0000 just like you guys said it would. I am glad I did not enter that trade earlier this morning. Thanks.
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Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #113,804
  • Jun 28, 2012 2:25pm Jun 28, 2012 2:25pm
Quoting mbqb11
Cool DGB hopefully helpful

I'd stick to just page one and work my way through if it were me. I'd spend at least a few months doing that.

Some summaries like this one
http://www.forexfactory.com/showthre...99#post2585699

May help some reference points. Again I think a lot gets missed, but it can be a good way to begin to grasp the things we speak about


Best
Mike
Thanks! Again, you re the man!
Thank you too pinbar. I had already gone through your signature links

GL
I don't need easy. I just need possible.
  • #113,805
  • Jun 28, 2012 2:29pm Jun 28, 2012 2:29pm
Quoting Hotwinter
im in here...
I see something more in the lines of a retest of the 9360 area.
I don't need easy. I just need possible.
  • #113,806
  • Jun 28, 2012 4:20pm Jun 28, 2012 4:20pm
Anyone looking to eur/jpy??
  • #113,807
  • Jun 28, 2012 5:25pm Jun 28, 2012 5:25pm
Hey guys.... I was wondering if any of you utilize harmonic patterns in your trading along with these techniques? Perhaps complimentary of things you are already looking at as conformation?

I know this is not the Harmonic thread I was just curious really


Thanks
"Greed is good,greed is right,greed works"
  • #113,808
  • Jun 28, 2012 5:34pm Jun 28, 2012 5:34pm
Quoting Gekko78
Hey guys.... I was wondering if any of you utilize harmonic patterns in your trading along with these techniques? Perhaps complimentary of things you are already looking at as conformation?

I know this is not the Harmonic thread I was just curious really


Thanks
I used to expeiment, but its on the sidetrack again.
Thoughts are things
  • #113,809
  • Jun 28, 2012 7:39pm Jun 28, 2012 7:39pm
Quoting mbqb11
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
Hi Mike, thanks for pointing it out. I think I should start waiting for the candlestick patterns to emerge than to anticipate that the pattern will form.
  • #113,810
  • Jun 28, 2012 8:43pm Jun 28, 2012 8:43pm
Quoting forextrini1
Honestly, this is the first time i heard of the term parity. The aussie is down to 1.0000 just like you guys said it would. I am glad I did not enter that trade earlier this morning. Thanks.
That "could" have been a good trade if you used 1.000 to manage it. There was high probability that price would test 1.000 - could have taken profit, or gone to BE...a lot of ways to skin the cat with PA.

Here is what I wouldn't mind seeing AUDUSD. Break of 1.000 , with 365 ema and TL (maybe not cleanest) conflunce. Looks like a lot of space to fall if 1.000 can flip form support to resistance.
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  • #113,811
  • Jun 28, 2012 8:44pm Jun 28, 2012 8:44pm
Quoting jerbersoftfx
Hi Mike, thanks for pointing it out. I think I should start waiting for the candlestick patterns to emerge than to anticipate that the pattern will form.
No prob J. I think learning to use the price action bars first is the easiest way. Look for those stand out killer bars like natural gas chart a few pages back. That's a great starting place. With time your toolbox will expand

Best
Mike
  • #113,812
  • Jun 28, 2012 9:57pm Jun 28, 2012 9:57pm
Changed my charts to white, easier to see when posting.

Lets see if I got this right:

Pros: Triangle, BEOVB, PPZ 1.604, Bullish Trend
Cons: near FTA

BuyStop at 1.606 and S/L just under 1.6

Makes sense?

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  • #113,813
  • Jun 28, 2012 10:28pm Jun 28, 2012 10:28pm
Quoting Donkey
That "could" have been a good trade if you used 1.000 to manage it. There was high probability that price would test 1.000 - could have taken profit, or gone to BE...a lot of ways to skin the cat with PA.

Here is what I wouldn't mind seeing AUDUSD. Break of 1.000 , with 365 ema and TL (maybe not cleanest) conflunce. Looks like a lot of space to fall if 1.000 can flip form support to resistance.

looks like 1.000 remained support for now. I was of the thought it would be heading to 1.200 resistance. I just watched how this one played out, didnt even demo trade it but whoever entered made a nice 150 plus pips..."Holy haberdashery, Batman!" The daily is about to end, forming a BUOB? bullish engulfing? looks like more PA is ahead for this pair.
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Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #113,814
  • Jun 28, 2012 11:03pm Jun 28, 2012 11:03pm
I'm looking at dblhc and dbhlc on the daily tf for USDCHF right now and most of them seem to be pointing in the opposite way they are "supposed to be trade"

for the DBLHC am i waiting for a retraction? b/c I found one and the bar after the formation went the firect opposite (a sell)

What about the wicks of the candles? am I looking for no wicks or are wicks ok? Or is part of this not the close, but rather the actual low ?
  • #113,815
  • Jun 28, 2012 11:05pm Jun 28, 2012 11:05pm
Bank Intervention?
  • #113,816
  • Jun 28, 2012 11:18pm Jun 28, 2012 11:18pm
Quoting don perry
Bank Intervention?
Spain.
When you have to shoot, shoot. Dont talk.
  • #113,817
  • Jun 29, 2012 12:16am Jun 29, 2012 12:16am
Quoting DaGrizlyBull
I see something more in the lines of a retest of the 9360 area.

DaGrizlyBull..

check the chart now I wish I had left the TP opened.
  • #113,818
  • Edited 3:15am Jun 29, 2012 2:59am | Edited 3:15am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Hi,

Took this trade after 3 bar lows lined up on the 25ema and the 3rd bar closed higher through resistance (TBLHC) @ 1.03000, looked to take the retrace at that level hoping resistance would turn support...maybe the 3 bar lows will hold? I wasn't going to wait to find out due to the manner in which price fell, got out for 1.9% loss

Critical views on the trade are welcome

Kind Regards
Sanil
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  • #113,819
  • Edited 4:03am Jun 29, 2012 3:43am | Edited 4:03am
Just got an alert trigger at a nice level on GBPAUD. Was looking for a pin to form on H4 but the candlestick closed ugly. Buy stop cancelled.
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  • #113,820
  • Jun 29, 2012 4:00am Jun 29, 2012 4:00am
Nice off the tl on GBPUSD. Money off the table already and stop moved down. If we get to 1.56 then that stop moves to BE. Pretty much a free trade now.
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