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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

  • #116,821
  • Aug 30, 2012 1:58am Aug 30, 2012 1:58am
Hello Traders!

I`m new to the trading world so, I would have some dummy questions now. If this is not the forum for that please excuse me, and direct to the “newbie” section.
1)Even if I followed the thread for days there were several abbreviation that I wasn’t able to understand. Could you give me some details on the followings? HCR, (Daily) LCS, PBT&CB and PA. (PA = price action?)
2)As a newbie trader I opened a demo account at Alpari. I got my charts as well, but my MACD isn’t set correctly – I have only 1 red line, (and the sticks of course). Could someone help me please?
3)A user on this forum, named Pinbar uses little red/green arrows above his MACD sticks. My question is – what does he indicate with these, and how does he determine these positions.

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Thank you.
It's all psychology...
  • #116,822
  • Aug 30, 2012 1:59am Aug 30, 2012 1:59am
Quoting HanSolo
All my trades are still in play. EURAUD worked out as expected (or should I say wished). It broke my former final target on the 4hr. With some resistance above we might be in for some bigger retrace sooner or later. I don't want to give back that extra profit. I moved my SL to 1.2098.


AUDUSD also move down a bit and close below my next TA on the daily. My stop is now at 1.0363.


AUDCHF closed beyond my 2nd TA. I moved my stop to 0.9924.
Great charts, Hans . .nice work . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,823
  • Aug 30, 2012 2:00am Aug 30, 2012 2:00am
Hello Jarroo,

Jarroo, I am also sitting at this trade, but don't be sure of it . Please take a look at chart.
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  • #116,824
  • Aug 30, 2012 2:01am Aug 30, 2012 2:01am
http://i1171.photobucket.com/albums/...22-00-15CH.png
  • #116,825
  • Aug 30, 2012 2:03am Aug 30, 2012 2:03am
http://i1171.photobucket.com/albums/...22-03-02CH.png
  • #116,826
  • Aug 30, 2012 2:06am Aug 30, 2012 2:06am
Quoting Rosa
Hello,

My trade from yesterday, but I did not have time to post it .

I see false braek at d-channel, then possible double top, pin on weekly chart (blue line) and of course position was taken on hcr level as touch trade, now in BE and waiting for TP on blue line orange box (weekly LCS and range from double top formation). best, Rosa.

This was nice for a Daily Close Confirmation play off the LCS and HCR levels . .picking the High of the Day is fun . .

The uptrend is looking strong . .that's "ok" . .we'll be ready for it when PBT&CA. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #116,827
  • Edited 2:26am Aug 30, 2012 2:11am | Edited 2:26am
Quoting Rosa
Hello Jarroo

I know, nice and easy , so when it goes BAAMMMMM ?.
There's a little Bam! right now. . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #116,828
  • Aug 30, 2012 2:16am Aug 30, 2012 2:16am
Quoting phixuanthi
.
Very nice phix . .
Indicators show the past. Price Action "Indicates" the future.
  • #116,829
  • Aug 30, 2012 2:25am Aug 30, 2012 2:25am
GBP/AUD

50 Fib retrace seems a good area to me...

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  • #116,830
  • Aug 30, 2012 2:27am Aug 30, 2012 2:27am
EUR/NZD

waiting for PA pattern here...

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  • #116,831
  • Aug 30, 2012 2:38am Aug 30, 2012 2:38am
Quoting Rosa
Hello, Yarroo

I still in it but there is nothing going on . Set Be at orange line and waiting for TP (line with orange box). We will see .
"Nothings going on..."? Are you kidding? Price going nicely downwards to our targets and beyond that ...Look at the monthly chart, there is a lot of potential. ...

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  • #116,832
  • Aug 30, 2012 2:39am Aug 30, 2012 2:39am
Quoting phixuanthi
http://i1171.photobucket.com/albums/...22-03-02CH.png
nice trading buddy
  • #116,833
  • Aug 30, 2012 2:40am Aug 30, 2012 2:40am
Quoting Rosa
Hello Jarroo,

Jarroo, I am also sitting at this trade, but don't be sure of it . Please take a look at chart.

Price is consolidating at that HCR level . .that sure work out great when PBT&CA that previous consolidation. . .nice.

Price is just chopping around and your wedge formation is very telling. Price is wedging . .Price is squeezing . .Price is consolidating .. .make sense.

A Mike Price Pattern Breakout in the making . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #116,834
  • Aug 30, 2012 3:04am Aug 30, 2012 3:04am
Quoting Pinbar
Took enough off the table, that even if it comes back at me, I am at BE plus.

Tell me you're still in this one, Steve (EurSek) If not, lie to me and say you are . .lol ..
Indicators show the past. Price Action "Indicates" the future.
  • #116,835
  • Aug 30, 2012 3:06am Aug 30, 2012 3:06am
Quoting jarroo
Tell me you're still in this one, Steve (EurSek) If not, lie to me and say you are . .lol ..
"Lie to me" Haaaaaaaaaaaaa That cracked me up.
Yeah, I am still in it.
The reason being, it could turn into a monthly PB.

Just moved to BE. Looks like it is going for the 8.3973 area.
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  • #116,836
  • Aug 30, 2012 3:09am Aug 30, 2012 3:09am
Quoting Pinbar
Yeah, I am still in it.
The reason being, it could turn into a monthly PB.
Nice . .you could have caught the beginning of the up trend.

Good ol' James16 PA showed the way . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #116,837
  • Aug 30, 2012 3:12am Aug 30, 2012 3:12am
Quoting jarroo
Hey Chanya . .did you take it ?. . You would have picked the High of the Day.

I know you were thinking that since PBT&CA these Daily /Weekly HCR levels that they should at as Support. . .they didn't. Once the Daily Closed below this HCR it confirmed that the level was not acting as Support.

Does this mean the levels are no good or not strong . . . No. It means that the down trend is very strong and this level failed as Support. Good chance it will act as strong Resistance . .which it did.
No , i did not take it but I closed my previous long position for 13 pip loss when close below occurred ...

My friend asked me yesterday " Chanya , How in the hell do you pick up highs and lows of the day ??? "

I said " Uh I can't tell you ... Its a secret " ...

( Literally made that kind of face with the glasses on ) ....
Human
  • #116,838
  • Aug 30, 2012 3:13am Aug 30, 2012 3:13am
Quoting jarroo
Nice . .you could have caught the beginning of the up trend.

Good ol' James16 PA showed the way . .


Jim
Yes, J16 PA did show the way but, you showed the level and were clearly expecting it to show PA here.

Way to go Jim.
This is a perfect example showing, how you are actually doing the VERY same thing as J16, Mike, Ghous, SC and everyone else in this thread. It also shows that you are just qualifying the PPZ a little differently.
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  • #116,839
  • Aug 30, 2012 3:15am Aug 30, 2012 3:15am
Quoting Pinbar
"Lie to me" Haaaaaaaaaaaaa That cracked me up.
.

I heard Johnny Lang's song today . .

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Indicators show the past. Price Action "Indicates" the future.
  • #116,840
  • Aug 30, 2012 3:17am Aug 30, 2012 3:17am
Quoting LamerTrader
Hello Traders!

I`m new to the trading world so, I would have some dummy questions now. If this is not the forum for that please excuse me, and direct to the “newbie” section.
1) Even if I followed the thread for days there were several abbreviation that I wasn’t able to understand. Could you give me some details on the followings? HCR, (Daily) LCS, PBT&CB and PA. (PA = price action?)
2) As a newbie trader I opened a demo account at Alpari. I got my charts as well, but my MACD isn’t set correctly – I have only 1 red line, (and the sticks of...
This thread contains answer to all of your questions ... The only thing you need to do is go to Page 1 post 1 , and start reading the thread gradually from there ... If you ask questions right away , you will get confused with the answers .... Just start reading the thread gradually and doors will start opening ...
Human
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