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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

  • #115,541
  • Aug 14, 2012 5:36pm Aug 14, 2012 5:36pm
Quoting Magestic
Mike, what your rewiew on AUD/CHF? Do u see a possible reversal signal here if we have good bearish PA protruding below 1.02 area?
(BEOB on my chart means gipothetical)
Hey Magestic

Yep price is showing signs of turning over already. the 1.0200 being crucial. Not sure what rust's pitka is, but I see loss of momentum and the turning over or rounding effect of price. Good area to watch bud

Best
Mike
  • #115,542
  • Aug 14, 2012 5:36pm Aug 14, 2012 5:36pm
Quoting jarroo
Are you using the "Manage Attachments" when you post your charts?
no, i'm using "insert image". and get link from a tinypic...
  • #115,543
  • Aug 14, 2012 5:42pm Aug 14, 2012 5:42pm
Quoting 0421
no, i'm using "insert image". and get link from a tinypic...
Ah, . . that's the problem . .could you use the "Manage Attachments".


If you’re a meta trader user just right click on the meta trader chart and go to “Save As Picture”.
Then “Select the image you would like to save:” Pick "Active chart (as is)" then click “OK”

Save anywhere you want i.e. Desktop.

Then when you enter to post comments go down to “Manage Attachments” click that.
Then click “Browse” to find your pic you want to attach, i.e. Desktop.
Click the pic you want and hit “Open”, Then hit “Upload”.
Wait for it to upload then close the “Manage Attachments” window. Then make sure you hit the “Submit Reply” button that is under the “Manage Attachments” button.
Done.
Indicators show the past. Price Action "Indicates" the future.
  • #115,544
  • Aug 14, 2012 5:44pm Aug 14, 2012 5:44pm
Quoting jarroo
Ah, . . that's the problem . .could you use the "Manage Attachments".


If you’re a meta trader user just right click on the meta trader chart and go to “Save As Picture”.
Then “Select the image you would like to save:” Pick "Active chart (as is)" then click “OK”

Save anywhere you want i.e. Desktop.

Then when you enter to post comments go down to “Manage Attachments” click that.
Then click “Browse” to find your pic you want to attach, i.e. Desktop.
Click the pic you want and hit “Open”, Then hit “Upload”....
oki, no problem...

THX.
  • #115,545
  • Aug 14, 2012 6:09pm Aug 14, 2012 6:09pm
Quoting haircut
Lots of traffic for sure but first target hit majority closed rest break even and see what happens and...Its gone my way yahoooooo!!!
Nice one, HC . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,546
  • Aug 14, 2012 6:17pm Aug 14, 2012 6:17pm
Quoting rafstraszek
I'm waiting for sth like this on cadchf...
break trendline + PBT&CB + retest
That Daily HCR level is still showing stength.

Nice chart, rafstraszek . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,547
  • Aug 14, 2012 6:31pm Aug 14, 2012 6:31pm
Quoting mbqb11
updated chart
Great trade....really enjoying watching it play out.

I got in this morning 4H BEOB. Would have liked a deeper retrace, but felt there was enough story annd places to reduce risk to get in: the bar had momentum via strong close and engulfed numerous previous bars, and it closed above the BRN (which happens to be a weekly HCR).

I'm currently trailing out with your 3 bar stop. Rectangles are my profit targets and not FTA (already hit FTA).
Attached Image(s) (click to enlarge)
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  • #115,548
  • Edited 7:43pm Aug 14, 2012 6:53pm | Edited 7:43pm
Quoting haircut
High Jarroo

I know you liked my trade on the nzd/usd i posted earlier, would you say its over trading to trade straight away off of that level as I have demo'd today as shown in the chart attached. I bought on a touch of the level as posted previously, then when the HCR level failed to hold as support I then sold on the touch when the level was retested.
What I loved about your post on the NzdUsd was that you took profits and covered your risk, beautiful . .what a concept . .taking profits at targets. The NzdUsd HCR level that you took wasn't the strongest but predictable.


Keep demoing, my friend . .you're doing great.

Nice job HC ..
Indicators show the past. Price Action "Indicates" the future.
  • #115,549
  • Aug 14, 2012 7:08pm Aug 14, 2012 7:08pm
Quoting Donkey
Great trade....really enjoying watching it play out.

I got in this morning 4H BEOB. Would have liked a deeper retrace, but felt there was enough story annd places to reduce risk to get in: the bar had momentum via strong close and engulfed numerous previous bars, and it closed above the BRN (which happens to be a weekly HCR).

I'm currently trailing out with your 3 bar stop. Rectangles are my profit targets and not FTA (already hit FTA).
yep I think the 1.3050 is the key here. Like to see us get above that see if can hold as support for an even longer term trade based on the breakout. I can hope for it

Mike
  • #115,550
  • Aug 14, 2012 10:26pm Aug 14, 2012 10:26pm
Quoting mbqb11
Hey Kenny

You would want to sell under the pinbar itself. The pinbar would be our signal to short(in the proper location). Buying a "break" of the bar is one of the ways to enter. So that would be selling under the low of the pinbar, or buying above the high of a pinbar

Attached is an example

Hope it helps
Mike
Thank you Mike! It helps a lot. There's still a long way to go for me, currently still at page 20.

I wonder where's James16? Seems like he's missing.

Kenny
  • #115,551
  • Aug 14, 2012 11:49pm Aug 14, 2012 11:49pm
Quoting ken.b
Thank you Mike! It helps a lot. There's still a long way to go for me, currently still at page 20.

I wonder where's James16? Seems like he's missing.

Kenny
He's probably busy as he had a lot going on.
That said, his last post was March of 2012
  • #115,552
  • Aug 15, 2012 12:59am Aug 15, 2012 12:59am
Quoting mbqb11
Hey Magestic

Yep price is showing signs of turning over already. the 1.0200 being crucial. Not sure what rust's pitka is, but I see loss of momentum and the turning over or rounding effect of price. Good area to watch bud

Best
Mike
Here what Rust's pitka is. Rounding effect as u say.
Quoting Rust
I am very active these days
Usually i enter a lot rarely.
This is another example of what i call a pitka :
Attachment
If not up, then down, otherwise sideways :-)
  • #115,553
  • Aug 15, 2012 1:03am Aug 15, 2012 1:03am
Quoting mbqb11
updated chart

Mike, will you reconsider your TP level, as it goes hard down? I mean maybe you are going to look if it can be trailed down even lower. Or you don't move your targets after it's being plot?
If not up, then down, otherwise sideways :-)
  • #115,554
  • Edited 3:46am Aug 15, 2012 2:02am | Edited 3:46am
Hi everyone, what a fantastic thread we have here! Here is one for your charting pleasure, looked so beautiful on weekly!

Also a small, not so good Pin on daily a few candles back. Confluence of 61 Fibo and Sup/Res Line on weekly.

USD/CHF

Weekly:
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 14 KB

Daily:
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 12 KB
  • #115,555
  • Aug 15, 2012 3:43am Aug 15, 2012 3:43am
Quoting Magestic
Mike, what your rewiew on AUD/CHF? Do u see a possible reversal signal here if we have good bearish PA protruding below 1.02 area?
(BEOB on my chart means gipothetical)
Hey friend,

this is just a trend which seems like it's loosing it's momentum up there as Mike said. Not a pitka, but still the exact place you want to look for a breakout and possible trend reversal or correction. But even if you don't get a reversal, most of the time these are still good to squeeze some profit after the breakout .

The pitka is a pattern just like a flag. The thing i like more in it, is the pressure before the breakout. It's the important sign for me that the breakout it's gonna last and not retrace far back into the pattern.
Here is an example:
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  • #115,556
  • Aug 15, 2012 4:12am Aug 15, 2012 4:12am
Mike, what do u think about this kind of scenario?

Rust, thanks for your explanation
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If not up, then down, otherwise sideways :-)
  • #115,557
  • Aug 15, 2012 4:33am Aug 15, 2012 4:33am
Quoting mbqb11
yep I think the 1.3050 is the key here. Like to see us get above that see if can hold as support for an even longer term trade based on the breakout. I can hope for it

Mike
Hi Mike
I would agree that the 1.3050 level is important here and I also have it in a wedge on weekly. I'd be interested in hearing which of these - the S/R level or the wedge you would view as the more powerful pattern. I would have said the wedge seems to be playing a part on the daily tf.

Cheers
Ray
Attached Image (click to enlarge)
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  • #115,558
  • Aug 15, 2012 4:48am Aug 15, 2012 4:48am
Just had a question about divergence. I know what it looks like when the TL of price is going up but the MACD is going down, but what about when the MACD is going up and price is going down? (Example Below)

Would this be considered convergence? divergence? does it have the same implications of a possible price swing?
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  • #115,559
  • Aug 15, 2012 4:50am Aug 15, 2012 4:50am
Quoting deltaskelta
Just had a question about divergence. I know what it looks like when the TL of price is going up but the MACD is going down, but what about when the MACD is going up and price is going down? (Example Below)

Would this be considered convergence? divergence? does it have the same implications of a possible price swing?
this is a regular bullish divergence.
Price is likely to turn upwards is the indication.

I recommend not to trade divergences without any further confirmations of a possible reversal though.

Best,
Jonas
Hero calls followed by margin calls...
  • #115,560
  • Aug 15, 2012 5:02am Aug 15, 2012 5:02am
Quoting PhAnTi'
this is a regular bullish divergence.
Price is likely to turn upwards is the indication.

I recommend not to trade divergences without any further confirmations of a possible reversal though.

Best,
Jonas
yes I wasn't planning on trading it just because of that, just adding another factor to my list

Thanks
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