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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

  • #115,461
  • Aug 13, 2012 8:53pm Aug 13, 2012 8:53pm
Quoting Chanya
First targets are usually so close , I don't understand how taking profits there suits in the long run unless we are trading a 64 million dollar account ....

Exactly Chanya . .and that's what James16 mentions all the time about having a large account. what does 30 pips mean to you? . .$30? $300? $1500? $8500?

Also, when we trade into Open Space only, the potential for those runners to come is increased.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #115,462
  • Aug 13, 2012 9:12pm Aug 13, 2012 9:12pm
Quoting 0421
Jarroo i have a one more question.

chart:



how long do we wait for reaction whenthe price make a PBT&(CA,CB).
it is some limit of time or pips??

THX

I don't believe there is a time limit for Price to have to test a strong level. Price could have easily broke down through this level and retested it downward. We just follow where it closes when it first got hit.

Notice now that we have a newly formed LCS level. This level will act as Support until Price can close below it.

A nice bullish Pin Bar there would be nice. .

Nice chart 0421, btw.


Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gc.jpg Size: 80 KB
Indicators show the past. Price Action "Indicates" the future.
  • #115,463
  • Aug 13, 2012 9:13pm Aug 13, 2012 9:13pm
Quoting jarroo
I like that 1.4890, Steve . .It sure worked out great in the past.

Let's see if it still has its magic since Price has now close above it on the Daily

I hear you Jim.
Computer problems.
Time for a full reformat.

BRB
  • #115,464
  • Aug 13, 2012 9:15pm Aug 13, 2012 9:15pm
Quoting Pinbar
I hear you Jim.
Computer problems.
Time for a full reformat.

BRB
I hate when that happens . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,465
  • Aug 13, 2012 9:19pm Aug 13, 2012 9:19pm
I was hoping I could get some feedback on this EUR-SEK Set-up.

Attached Image (click to enlarge)
Click to Enlarge Name: eur-sek-8-13-2012.gif Size: 13 KB


A nice sized BUOB at a swing low with a strong close and some space to move.
  • #115,466
  • Aug 13, 2012 9:22pm Aug 13, 2012 9:22pm
Quoting jarroo
I don't believe there is a time limit for Price to have to test a strong level. Price could have easily broke down through this level and retested it downward. We just follow where it closes when it first got hit.

Notice now that we have a newly formed LCS level. This level will act as Support until Price can close below it.

A nice bullish Pin Bar there would be nice. .

Nice chart 0421, btw.


Jim
THX a lot.

i have a one more chart:

http://i48.tinypic.com/2r75z0z.gif

what do You think about this PBT&CA above??
  • #115,467
  • Aug 13, 2012 9:28pm Aug 13, 2012 9:28pm
Quoting Rosco_P
I was hoping I could get some feedback on this EUR-SEK Set-up.

Attachment

A nice sized BUOB at a swing low with a strong close and some space to move.

I like a short at the 8.29 Lowest Close of Support level. If that BUOB can push Price to close above this level . .I like longs from there.
Attached Image (click to enlarge)
Click to Enlarge Name: sek.jpg Size: 70 KB
Indicators show the past. Price Action "Indicates" the future.
  • #115,468
  • Aug 13, 2012 9:28pm Aug 13, 2012 9:28pm
Quoting Rosco_P
I was hoping I could get some feedback on this EUR-SEK Set-up.

Attachment

A nice sized BUOB at a swing low with a strong close and some space to move.
Hey Rosco

It's a decent size buob but we have a few good and bad things.

Here is a chart


Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 34 KB
  • #115,469
  • Aug 13, 2012 9:32pm Aug 13, 2012 9:32pm
Quoting mbqb11
Hey Rosco

It's a decent size buob but we have a few good and bad things.

Here is a chart


Best
Mike
We need a nice big bullish Mike bar to show that market structural shift to the long side . . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,470
  • Aug 13, 2012 9:36pm Aug 13, 2012 9:36pm
Quoting 0421
THX a lot.

i have a one more chart:



what do You think about this PBT&CA above??
Yes . .Excellent . .0421


Where would your stop loss be located ?
Indicators show the past. Price Action "Indicates" the future.
  • #115,471
  • Aug 13, 2012 9:36pm Aug 13, 2012 9:36pm
Quoting jarroo
We need a nice big bullish Mike bar to show that market structural shift to the long side . . .
Yep it's all overlapping for that A+ trade. IF that BUOB closed above your LCS right at that TL, we got no where to go but up right buddy
  • #115,472
  • Aug 13, 2012 9:39pm Aug 13, 2012 9:39pm
Quoting mbqb11
Yep it's all overlapping for that A+ trade. IF that BUOB closed above your LCS right at that TL, we got no where to go but up right buddy
Potentially, my friend .. lol

You gotta love those big Mike Bars . .it tells the world that the market is changing here .. .
Indicators show the past. Price Action "Indicates" the future.
  • #115,473
  • Aug 13, 2012 9:42pm Aug 13, 2012 9:42pm
Thanks for all the feedback it is appreciated. Still learning
  • #115,474
  • Aug 13, 2012 9:45pm Aug 13, 2012 9:45pm
Quoting jarroo
Yes . .Excellent . .0421


Where would your stop loss be located ?
the lowest of previous bar. that is correctly?


THX
  • #115,475
  • Aug 13, 2012 9:55pm Aug 13, 2012 9:55pm
Quoting 0421
the lowest of previous bar. that is correctly?

or maybe it's to many pips? about 100?? it' not too much??

THX
Thanks correct, 0421.

S/L is below the Low of the Bar that PBT&CA.

Here are some targets ( previous bar Highs and Lows on the Daily) in blue.

I like how Price Close aboved both HCR levels and that LCS level.


Price is hitting tragets now you could reduce your risk alot right now . .

Nice work, 0421.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: 0421.jpg Size: 76 KB
Indicators show the past. Price Action "Indicates" the future.
  • #115,476
  • Aug 13, 2012 10:04pm Aug 13, 2012 10:04pm
Quoting jarroo
Thanks correct, 0421.

S/L is below the Low of the Bar that PBT&CA.

Here are some targets ( previous bar Highs and Lows on the Daily) in blue.

I like how Price Close aboved both HCR levels and that LCS level.


Price is hitting tragets now you could reduce your risk alot right now . .

Nice work, 0421.

Jim
This is very similar to this setup on the GbpAud. . .chart.

Notice on the GbpAud, that it had more Open Space to let it run . .
Attached Image (click to enlarge)
Click to Enlarge Name: 0421gbpaud.jpg Size: 102 KB
Indicators show the past. Price Action "Indicates" the future.
  • #115,477
  • Aug 13, 2012 10:06pm Aug 13, 2012 10:06pm
Quoting jarroo
I hate when that happens . .
That didn't take too long.
Yeah, but don't you just love that virgin installation & how snappy things are.
  • #115,478
  • Aug 13, 2012 10:07pm Aug 13, 2012 10:07pm
Quoting Pinbar
That didn't take too long.
Yeah, but don't you just love that virgin installation & how snappy things are.
lol . . yes that is sweet . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,479
  • Aug 13, 2012 10:12pm Aug 13, 2012 10:12pm
Quoting jarroo
This is very similar to this setup on the GbpAud. . .chart.

Notice on the GbpAud, that it had more Open Space to let it run . .
i'm thinking about this trade, and I am curious, its not a BE trade??
where was a first target?

THX
  • #115,480
  • Aug 13, 2012 10:23pm Aug 13, 2012 10:23pm
It's everything on my chart is correctly?

http://i49.tinypic.com/33cad1s.gif

THX.
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