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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

  • #115,641
  • Aug 16, 2012 11:12am Aug 16, 2012 11:12am
Quoting Rosa
Hello,

Everything on my charts, waiting for comments. Best.
Very nice Rosa . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,642
  • Aug 16, 2012 11:12am Aug 16, 2012 11:12am
Quoting Rosa
PBT&CA/CB - price break through and close above / below
HCR - highest close resistance
LCS - lowest close support

best.

and thanks for your help . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,643
  • Aug 16, 2012 11:18am Aug 16, 2012 11:18am
Quoting utiq
EURCAD
i like it

Attachment
There you are . .nice . ..
Indicators show the past. Price Action "Indicates" the future.
  • #115,644
  • Edited 11:44am Aug 16, 2012 11:25am | Edited 11:44am
I'll try this again :-)

I wasn't clear last time. The BEOB was on the weekly. I posted the daily with a Fib indicating entry on retrace of BEOB. Here I have both the weekly (post-trade) and daily (pre-trade). EDIT: replaced with correct daily chart.

Hello wonderful J16ers!

I would very much appreciate your thoughts on this set-up.

The chart attached is a view of the EURCAD daily on Monday after I set my sell limit order.

The Fib represents last week's BEOB, which was the trend continuation PA signal I was interested in.

I set the sell limit on the 38.2 Fib ret of the BEOB, which coincided with daily lows during the week prior to the BEOB.

I took quick profit on one half of my position on Monday and have just been stopped out on the other half for an average 61-pip gain for the whole trade.

I would appreciate any thoughts/advice on my trade management, which I describe on my trading journal here: http://moneyblogpost.com/2012/08/16/...6-eurcad-pips/

Thank you!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: 120813 eurcad short entry.gif Size: 19 KB
  • #115,645
  • Aug 16, 2012 11:27am Aug 16, 2012 11:27am
Quoting meshka
possible trade - loonie
Great chart meshka . .here's some other S/L placement levels . .chart. .
Attached Image (click to enlarge)
Click to Enlarge Name: cad16a.gif Size: 26 KB
Indicators show the past. Price Action "Indicates" the future.
  • #115,646
  • Aug 16, 2012 11:31am Aug 16, 2012 11:31am
Quoting dabbledave
I'll try this again :-)

I wasn't clear last time. The BEOB was on the weekly. I posted the daily with a Fib indicating entry on retrace of BEOB. Here I have both the weekly (post-trade) and daily (pre-trade).

Hello wonderful J16ers!

I would very much appreciate your thoughts on this set-up.

The chart attached is a view of the EURCAD daily on Monday after I set my sell limit order.

The Fib represents last week's BEOB, which was the trend continuation PA signal I was interested in.

I set the sell limit on the 38.2 Fib ret of the...
You have the Daily UsdChf chart . .do you have the Daily EurCad chart?
Indicators show the past. Price Action "Indicates" the future.
  • #115,647
  • Aug 16, 2012 11:32am Aug 16, 2012 11:32am
Quoting dabbledave
I'll try this again :-)

I wasn't clear last time. The BEOB was on the weekly. I posted the daily with a Fib indicating entry on retrace of BEOB. Here I have both the weekly (post-trade) and daily (pre-trade).

Hello wonderful J16ers!

I would very much appreciate your thoughts on this set-up.

The chart attached is a view of the EURCAD daily on Monday after I set my sell limit order.

The Fib represents last week's BEOB, which was the trend continuation PA signal I was interested in.

I set the sell limit on the 38.2 Fib ret...
Hey Dave

Be careful here

Remember we want to look for BEOBs up at swing highs. This is at a deep deep swing low. This gets a lot of newer traders into trouble. Be sure to learn them in the proper swing high place first and over time you may begin to add continuation bars but they are more tricky in my view

Best
Mike
  • #115,648
  • Aug 16, 2012 11:40am Aug 16, 2012 11:40am
Let's see where the daily closes on the EurJpy . .
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy16a.gif Size: 29 KB
Indicators show the past. Price Action "Indicates" the future.
  • #115,649
  • Aug 16, 2012 11:42am Aug 16, 2012 11:42am
Quoting meshka
at last...

Indicators show the past. Price Action "Indicates" the future.
  • #115,650
  • Aug 16, 2012 11:43am Aug 16, 2012 11:43am
Quoting meshka
and we have strong close.

Youa are on a roll, my friend . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,651
  • Aug 16, 2012 11:45am Aug 16, 2012 11:45am
Quoting jarroo
You have the Daily UsdChf chart . .do you have the Daily EurCad chart?
Oops. Yes, just replaced the offending chart :-)
  • #115,652
  • Aug 16, 2012 11:47am Aug 16, 2012 11:47am
Quoting mbqb11
Hey Dave

Be careful here

Remember we want to look for BEOBs up at swing highs. This is at a deep deep swing low. This gets a lot of newer traders into trouble. Be sure to learn them in the proper swing high place first and over time you may begin to add continuation bars but they are more tricky in my view

Best
Mike
Thanks Mike.

So BE/BU OBs aren't useful for trend continuation?

I got very lucky then :-)
  • #115,653
  • Aug 16, 2012 11:49am Aug 16, 2012 11:49am
Quoting dabbledave
Thanks Mike.

So BE/BU OBs aren't useful for trend continuation?

I got very lucky then :-)
They can be Dave

But they are more tricky. The spot James teaches us to take them is at swing highs(beobs) and swing lows(buobs). This is also easier in my opinion to learn as opposed to a lot people try to buy a BUOB at the very top of a trend assuming that trend will continue and then price reverse strongly. It's ultimately about story and confluence, but we always suggest to learn them proper swing points first.

Best
Mike
  • #115,654
  • Aug 16, 2012 11:53am Aug 16, 2012 11:53am
Quoting dabbledave
I'll try this again :-)

I wasn't clear last time. The BEOB was on the weekly. I posted the daily with a Fib indicating entry on retrace of BEOB. Here I have both the weekly (post-trade) and daily (pre-trade). EDIT: replaced with correct daily chart.

Hello wonderful J16ers!

I would very much appreciate your thoughts on this set-up.

The chart attached is a view of the EURCAD daily on Monday after I set my sell limit order.

The Fib represents last week's BEOB, which was the trend continuation PA signal I was interested in.

I set...
Mike said it better than I ever could , friend . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,655
  • Aug 16, 2012 12:01pm Aug 16, 2012 12:01pm
Quoting Chanya
Suffered three minor losses this week ( 12 pip average ) ... Happens ....

I hope they were not my fault ... Lets see what Jarroo has to say about em ...

One of em would have been a BE but I decided not to go there as I was a little high on adrenaline ... Paid for it ...
On the EurGbp . .charts . .
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #115,656
  • Aug 16, 2012 12:18pm Aug 16, 2012 12:18pm
Fucking hell I am so pissed off today. This must have been a conspiracy against me. So pissed off that this shit happens only to me. Just look at that stupid chart!! CAD/CHF daily with a nice divergence just as we are getting closer to the monthly pp R1 which happened to be on a significant resistance from ages ago (look at a weekly). I set my stupid short pending order there, the price misses it by 1 FUCKING PIP and then heads south 80 pips or so! I should have been 80 pips in green, instead I am 30 pips down on a different trade. WTF guys?

Sorry guys, just needed to get this off my chest, it's unbelievably frustrating.

People, do you think I should jump on it anyway? Do you reckon it will keep going south?

Thank you,
good luck
Attached Image (click to enlarge)
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  • #115,657
  • Aug 16, 2012 12:18pm Aug 16, 2012 12:18pm
Quoting Chanya
Suffered three minor losses this week ( 12 pip average ) ... Happens ....

I hope they were not my fault ... Lets see what Jarroo has to say about em ...

One of em would have been a BE but I decided not to go there as I was a little high on adrenaline ... Paid for it ...
Same with UsdChf . .as traffic gathers, after the initial retrace, it loses strength.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #115,658
  • Aug 16, 2012 12:18pm Aug 16, 2012 12:18pm
Quoting jarroo
Let's see where the daily closes on the EurJpy . .
Hi Jarroo.Tell me if I'm wrong, but you are expecting price to retrace to the former higher daily close on EURJPY (97.44 area) before going further north. Do you wait for today's daily close to place your buy stop or not ? Thanks.
  • #115,659
  • Aug 16, 2012 12:18pm Aug 16, 2012 12:18pm
Attached Image (click to enlarge)
Click to Enlarge Name: loonie.gif Size: 20 KB


Isn't this a little dangarous with the USD/CAD? Just trying to understand why this shouldn't conquer to much support there...
  • #115,660
  • Aug 16, 2012 12:27pm Aug 16, 2012 12:27pm
Quoting jsvihla
Fucking hell I am so pissed off today. This must have been a conspiracy against me. So pissed off that this shit happens only to me. Just look at that stupid chart!! CAD/CHF daily with a nice divergence just as we are getting closer to the monthly pp R1 which happened to be on a significant resistance from ages ago (look at a weekly). I set my stupid short pending order there, the price misses it by 1 FUCKING PIP and then heads south 80 pips or so! I should have been 80 pips in green, instead I am 30 pips down on a different trade. WTF guys?

Sorry...
Here's how I was the CadChf . .got to go for now

Later.

Jim
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
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