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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

  • #117,361
  • Sep 4, 2012 8:01pm Sep 4, 2012 8:01pm
Quoting jarroo
Hey Slider . .you may want to start with this post about the EurSek . .you may have missed the party on this one.

. .also I strongly suggest you get a New York Close feed (5:00PM EST) like FxPro. The NY Close is good because it is in line with the Close of other financial markets . .
Ahh I see. Thanks. Also, my feed is Alpari and it does close at 5 PM EST. Does your USDSEK look different?
  • #117,362
  • Sep 4, 2012 8:06pm Sep 4, 2012 8:06pm
Quoting jarroo
Oh darn it that's the UsdSek . .sorry . . hang on.
No prob. I gotta run out the door right now but will be back in a few hours. I'll be paying close attention to those levels. There's a lot of chaos in that area but there's some space just above if it breaks through.
  • #117,363
  • Sep 4, 2012 8:14pm Sep 4, 2012 8:14pm
Quoting Slider20
Ahh I see. Thanks. Also, my feed is Alpari and it does close at 5 PM EST. Does your USDSEK look different?
Sorry about that Slider . .If this pair is trending up it will start to respect the more near term HCR levels that PBT&CA . . like (HCR 1) on my chart. . .

but if its trending up strong it will start testing/respecting (HCR 2) or (HCR 3) and start moving up.

Then it will fool you and retrace all the way back down to (HCR 1) and then start moving up again . .

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #117,364
  • Sep 4, 2012 8:27pm Sep 4, 2012 8:27pm
Quoting brzvadeg
Attachment
Looks like Price Closed right on our level . . gee whiz, give me at least a pip or two in either way so the I can go long or short . lol

When this happens, who knows where Price can go . . . its neutral . . .flip a coin . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #117,365
  • Sep 4, 2012 8:36pm Sep 4, 2012 8:36pm
Quoting Pinbar
Did you actually take this one Jim?
I suppose that if those TBls broke, it could have run with the trend.
Perhaps, it still could.

Edit: Maybe not, with this daily divergence kicking in.
I would like to have seen this type a set up at a Swing High . .chart.

Where it is now is why I like to see it break and Close Above . .but there's some nice Space on both sides of this Swing Low Consolidation . .I'm not ruling out the potential of a break lower.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,366
  • Sep 4, 2012 8:42pm Sep 4, 2012 8:42pm
Quoting jarroo
Sorry about that Slider . .If this pair is trending up it will start to respect the more near term HCR levels that PBT&CA . . like (HCR 1) on my chart. . .

but if its trending up strong it will start testing/respecting (HCR 2) or (HCR 3) and start moving up.

Then it will fool you and retrace all the way back down to (HCR 1) and then start moving up again . .

Jim
Does near term mean nearest in time and not nearest in price? In this case they would be the same anyway but for future reference.
  • #117,367
  • Sep 4, 2012 8:48pm Sep 4, 2012 8:48pm
Quoting Slider20
Does near term mean nearest in time and not nearest in price? In this case they would be the same anyway but for future reference.
I see what you're saying . .good question. Nearest in time . .HCR 1 is the newest Level . .HCR 2 and HCR 3 were formed in the past. The trend (usually) will begin hitting HCR 1 and continue strong and even ignore HCR 2 and HCR 3 . .if that makes sense.
Indicators show the past. Price Action "Indicates" the future.
  • #117,368
  • Sep 4, 2012 8:51pm Sep 4, 2012 8:51pm
Quoting jarroo
I see what you're saying . .good question. Nearest in time . .HCR 1 is the newest Level . .HCR 2 and HCR 3 were formed in the past. The trend (usually) will begin hitting HCR 1 and continue strong and even ignore HCR 2 and HCR 3 . .if that makes sense.
Yep that makes sense. Makes it a clearer picture starting out. Thanks!
  • #117,369
  • Sep 4, 2012 8:55pm Sep 4, 2012 8:55pm
Quoting Slider20
Yep that makes sense. Makes it a clearer picture starting out. Thanks!

This uptrend on the NzdChf is a good example of a trend respecting near term levels . .although some of the past levels did played a role . .but some didn't.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #117,370
  • Sep 4, 2012 8:56pm Sep 4, 2012 8:56pm
Quoting jarroo
Looks like Price Closed right on our level . . gee whiz, give me at least a pip or two in either way so the I can go long or short . lol

When this happens, who knows where Price can go . . . its neutral . . .flip a coin . .
With all due respect , I don't think in this case we have to flip a coin ... If one time frame does not gives the answer , there are other time frames too ... Here is my chart below ...

Plus , even on daily , price has not taken out the most recent PPZ , so I am still holding my long ...
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Human
  • #117,371
  • Sep 4, 2012 9:02pm Sep 4, 2012 9:02pm
Quoting Chanya
With all due respect , I don't think in this case we have to flip a coin ... If one time frame does not gives the answer , there are other time frames too ... Here is my chart below ...

Plus , even on daily , price has not taken out the most recent PPZ , so I am still holding my long ...

It was sitting on those Weekly levels too . .(top one) . .damn gaps . .I look at both levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,372
  • Sep 4, 2012 9:09pm Sep 4, 2012 9:09pm
Quoting Chanya
Plus , even on daily , price has not taken out the most recent PPZ , so I am still holding my long ...
I will still watch that S/L placement and see if it gets taken out . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #117,373
  • Edited 9:41pm Sep 4, 2012 9:21pm | Edited 9:41pm
Quoting 0421
Jarroo i have a question about Daily Close Confirmation, please look at those two charts and explain: Is it necessary that cofirmation bar touch our hcr/lcs level or it's enough that close of the bar is above/below hcr/lcs level?

Charts:

On the Euro . .chart

Remember your chart . . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,374
  • Sep 4, 2012 9:38pm Sep 4, 2012 9:38pm
Quoting 0421
Jarroo i have a question about Daily Close Confirmation, please look at those two charts and explain: Is it necessary that cofirmation bar touch our hcr/lcs level or it's enough that close of the bar is above/below hcr/lcs level?

Charts:

UsdSgd . .Yes that's correct . .That's a Daily Close Confirmation of Resistance . . .meaning that Support level (LCS) has flipped to Resistance.

Let's see how it plays out . .
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #117,375
  • Sep 5, 2012 12:14am Sep 5, 2012 12:14am
Quoting DaGrizlyBull
Where did you get that information on the top left corner in Metatrader?
Hi,

Don't know where I get it from, but here it is... (hope there is no thread infrengement or whatsoever...)

I tried to change the time to next candle from xxx seconds to hh:min:sec, wihtout success - if anyone feels comfortable changing that...

enjoy
Attached File(s)
File Type: ex4 Market-Value.ex4   4 KB | 336 downloads
File Type: mq4 Market-Value.mq4   3 KB | 494 downloads
Slow & steady
  • #117,376
  • Sep 5, 2012 1:46am Sep 5, 2012 1:46am
Quoting jarroo
Looks like Price Closed right on our level . . gee whiz, give me at least a pip or two in either way so the I can go long or short . lol

When this happens, who knows where Price can go . . . its neutral . . .flip a coin . .
Price does not know where it goes!
  • #117,377
  • Sep 5, 2012 2:03am Sep 5, 2012 2:03am
Quoting brzvadeg
Price does not know where it goes!

I wouldn't be so blunt with that statement

She doesn't always know where she goes and she might have short memory but she definitely knows when she's there. lol
  • #117,378
  • Sep 5, 2012 2:36am Sep 5, 2012 2:36am
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some resemblance
  • #117,379
  • Sep 5, 2012 2:38am Sep 5, 2012 2:38am
Quoting brzvadeg
Price does not know where it goes!
That's how I would see it too . .it I had to pick, the BEOB would be my guess or clue ..but I 've seen BEOBs sitting on a newly formed flip level of Support move straight up.
Indicators show the past. Price Action "Indicates" the future.
  • #117,380
  • Sep 5, 2012 2:39am Sep 5, 2012 2:39am
Quoting Greenhaze
I wouldn't be so blunt with that statement

She doesn't always know where she goes and she might have short memory but she definitely knows when she's there. lol
Well said, GH .. lol . .well said.
Indicators show the past. Price Action "Indicates" the future.
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