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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

  • #113,881
  • Jul 3, 2012 4:15am Jul 3, 2012 4:15am
AUD/USD

took this one long, resistance turns support, a small retrace after the break of the resistance and then up...(hopefully )

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  • #113,882
  • Jul 3, 2012 4:16am Jul 3, 2012 4:16am
Quoting brzvadeg
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yeahh, nice level. also on my WL
  • #113,883
  • Jul 3, 2012 4:28am Jul 3, 2012 4:28am
AUD/CAD

PPZ , 61,8 Fib and falling TL...enough confluence for me

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  • #113,884
  • Jul 3, 2012 4:33am Jul 3, 2012 4:33am
Quoting 0421
http://www.forexfactory.com/showthre...es16&page=7579
Thats not Jarroo specific though
  • #113,885
  • Jul 3, 2012 4:45am Jul 3, 2012 4:45am
Quoting Greenhaze
Fakey is just a failed breakout. Most of the A+ pinbars in swing extremes have long wicks that penetrate recent highs/lows. Price breaks out of the consolidation taking out the sell/buy stop orders and quickly flops back to it leaving the breakout participants on offside. It might be PB or any other candle with wick sticking out clearly from consolidation channel.

Its very popular pattern and some call it fakey, headfake, sfp.... All in all its just a name on top of very logical order-flow scenario around S/R
Thanks for the explanation, I still don't totally get my head around the basic "order flow scenario". So basically there often are many orders placed beyond an s/r level. If the amount of those orders is about equal or more sellers (take profit etc) the price drops back. If there are more buyers (in total) beyond the level than price goes up. Is that about right?
  • #113,886
  • Jul 3, 2012 5:02am Jul 3, 2012 5:02am
Quoting tinny79
Thats a good way of assessing it overall of a fakey.. there is always so many names for all these types of candles.. fake break, forms a pin like look at a major support or resistance ( breaking it with the tail ).. These are generally always good trades.. and they happen a lot..

Nial fuller has heaps on these..

I trade mostly pin bars at the support or resistance areas lined up on the daily or h4 and i reckon half could be named a fakey as well.. Some people call them kangaroo tails as well..

Look up peter walters as well, like nial...
Thanks, that really helps me to better understand the movements of the market. Its not about fakeys or pins or buobs, these just describe the behavior of the market when price bumps into pockets of orders. Depending on distribution of sell and buy orders price discovers there, it goes either up or down. So those levels do actually provide artificial volume right?
  • #113,887
  • Jul 3, 2012 5:52am Jul 3, 2012 5:52am
Quoting bullzeye
AUD/CAD

PPZ , 61,8 Fib and falling TL...enough confluence for me

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I dont aggree with the bearish outlook. For me the trend is up and you are trading into resistance from a s/r and trendline. even the ema is about to turn up.

Then again, I might be wrong.

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  • #113,888
  • Jul 3, 2012 6:09am Jul 3, 2012 6:09am
Going short on NZDUSD

Daily chart shows nice a/r level and downward trendline

Break of bearish inside bar on 4hr chart
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  • #113,889
  • Jul 3, 2012 6:13am Jul 3, 2012 6:13am
i think hikkake is the true name of thz fakey. check this pdf
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  • #113,890
  • Jul 3, 2012 6:31am Jul 3, 2012 6:31am
Watching the .0849-.0942 area for PA.
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  • #113,891
  • Jul 3, 2012 6:45am Jul 3, 2012 6:45am
Quoting Brixton
Going short on NZDUSD

Daily chart shows nice a/r level and downward trendline

Break of bearish inside bar on 4hr chart
Nice level. today's high lining up with lows from Feb/Mar. Doesn't look like it's carrying last Friday's momentum higher. Will look for PA at today's close. Didn't see any 4HR BEIB on my feed though (FxPro). 61.8 Fib also close by. Are you waiting for PA or would you touch trade this?
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  • #113,892
  • Jul 3, 2012 6:54am Jul 3, 2012 6:54am
Strong level on the Daily. Middle of a the range on the weekly. Do you think this level is strong enough to play a touch trade at 82.67?
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  • #113,893
  • Jul 3, 2012 7:21am Jul 3, 2012 7:21am
Quoting Mebius
Strong level on the Daily. Middle of a the range on the weekly. Do you think this level is strong enough to play a touch trade at 82.67?
Im watching for that area also ~82.50.

I also like where its is or was sitting on right now too. 365ma & 150ma & 50Fib, also the 81/81.50 area.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #113,894
  • Jul 3, 2012 8:05am Jul 3, 2012 8:05am
Quoting Mebius
Strong level on the Daily. Middle of a the range on the weekly. Do you think this level is strong enough to play a touch trade at 82.67?
Good job mebius, some good areas you posted

Mike
  • #113,895
  • Jul 3, 2012 8:05am Jul 3, 2012 8:05am
Quoting Mebius
Nice level. today's high lining up with lows from Feb/Mar. Doesn't look like it's carrying last Friday's momentum higher. Will look for PA at today's close. Didn't see any 4HR BEIB on my feed though (FxPro). 61.8 Fib also close by. Are you waiting for PA or would you touch trade this?
I had the PA on the 4 hours chart. I use daily charts to watch everything else. Once in happy with the levels, I switch to the 4 hour chart for a PA signal.
  • #113,896
  • Jul 3, 2012 8:12am Jul 3, 2012 8:12am
Watching this. Approaching an area to maybe keep an eye on. Its all time low? 1.22 area.

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #113,897
  • Jul 3, 2012 8:14am Jul 3, 2012 8:14am
Quoting Brixton
I had the PA on the 4 hours chart. I use daily charts to watch everything else. Once in happy with the levels, I switch to the 4 hour chart for a PA signal.
Most likely, this should go down, but, I personally wanna see BRN 0.80 break, before entering.
Thoughts are things
  • #113,898
  • Jul 3, 2012 8:16am Jul 3, 2012 8:16am
Quoting rolo1128
Watching this. Approaching an area to maybe keep an eye on. Its all time low? 1.22 area.

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Yes.
Thoughts are things
  • #113,899
  • Jul 3, 2012 8:23am Jul 3, 2012 8:23am
0.77000
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  • #113,900
  • Jul 3, 2012 9:34am Jul 3, 2012 9:34am
Quoting mbqb11
another Chart, where I will be watching
Hi Mike thanks to your explanations

a little bit risky... but we see a corrective triangle. I hope that level 0.94 will hold the price and maybe it will go higher...
I'm not worries because i have to breakeven
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