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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

  • #117,441
  • Sep 5, 2012 2:43pm Sep 5, 2012 2:43pm
Quoting DaGrizlyBull
We may have a situation where PBT CA. Next day what do you do when price retraces to the level? There may be a "H1 signature" as you call it, yet the day could close below that level.

Which one do you take? Is H1 rejection (touch and close above) enough to trump the Daily touch and close above??
Day hasn't ended yet . . you take the Hourly Signature . . if the Hourly closes below, you're out . . and wait for the Day to end . .that's one way.
Indicators show the past. Price Action "Indicates" the future.
  • #117,442
  • Sep 5, 2012 2:46pm Sep 5, 2012 2:46pm
Quoting mbqb11
chart I am watching here

usd/cad forming a nice pattern here, good areas to watch for price action

Good example how Mike and I are looking at the same thing but in a different way ..UsdCad.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,443
  • Sep 5, 2012 2:51pm Sep 5, 2012 2:51pm
Quoting jarroo
a chart would help
I was wrong, was watching the PBTCB en the next bar, but then i saw the HCR was made after this fact.
  • #117,444
  • Sep 5, 2012 2:54pm Sep 5, 2012 2:54pm
Quoting jarroo
Yes it is . .one's a confirmation of a setup . . the other is a entry method . .
But what is the best thing we can do.
Enter on the touch after de bar that break through en closes above (HCR). Or wait to see the next bar closes also above the HCR for more confirmation and then go long?
  • #117,445
  • Edited 3:14pm Sep 5, 2012 2:55pm | Edited 3:14pm
Quoting HanSolo
Good question. I don't know how Jarroo handles these levels but I personally take them into account. I would like to see at least a breach of that level (i.e. price getting above but not necessarily closing above it). That would be a sign for me that some of its strength is absorbed and price may break through next time it gets there.

Quoting Chanya
Its better to avoid these levels ...too minor ....
Yeah Hans . . I would look at these minor levels more as a target or FTA but not the best to play as a primary setup . .too minor.
Indicators show the past. Price Action "Indicates" the future.
  • #117,446
  • Sep 5, 2012 2:59pm Sep 5, 2012 2:59pm
Quoting Thierry
But what is the best thing we can do.
Enter on the touch after de bar that break through en closes above (HCR). Or wait to see the next bar closes also above the HCR for more confirmation and then go long?

Both.

Much of it has to do with how confluenced the level is for a Touch Trade or Hourly Signature. The Euro trade was heavy confluenced. . . also is it trading into Space, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #117,447
  • Sep 5, 2012 3:03pm Sep 5, 2012 3:03pm
Watching to see how the EURCAD closes. Nice BUOB today engulfing a range of bars before it, close above 1.25 would be ideal.
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Price is beautiful. A repetitive method is a competitive method.
  • #117,448
  • Sep 5, 2012 3:05pm Sep 5, 2012 3:05pm
Quoting nwo-trader
Watching to see how the EURCAD closes. Nice BUOB today engulfing a range of bars before it, close above 1.25 would be ideal.
Looks good nwo . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,449
  • Sep 5, 2012 3:06pm Sep 5, 2012 3:06pm
Quoting jarroo
The UsdCad is setting up just like the EurAud, EurNzd and EurSek . .
Quoting Chanya
I have no Idea what is meant by what you just said but I think its gonna be a triple bottom formation on USD CAD so I just placed a buy deal there with just 9 pip stop loss ... Minor Risk , Greater reward ...
Nice ... I am already in but will re-enter again as the opportunity will present it self ...
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Human
  • #117,450
  • Sep 5, 2012 3:10pm Sep 5, 2012 3:10pm
Quoting rafstraszek
I'm sure it's gonna be
http://i.chzbgr.com/completestore/20...9999398765.jpg

Can't wait
I love Barney ... ( As an actor , I am not Gay )
Human
  • #117,451
  • Sep 5, 2012 3:10pm Sep 5, 2012 3:10pm
Quoting brzvadeg
BAMM ! waiting for the closure of these pairs. Sold usd/sgd. if closed lower 1.2473 today then good. For me very interesting gbp/usd eur/nok and especially eur/nok.
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Nice charts brzvadeg . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,452
  • Sep 5, 2012 3:16pm Sep 5, 2012 3:16pm
If there are any Australian people out here , I am ecstatic to inform you that you Cricket team has been beaten BADLY by my national team , Pakistan ...
Human
  • #117,453
  • Sep 5, 2012 3:25pm Sep 5, 2012 3:25pm
Quoting jarroo
Yeah Hans . . I would look at these minor levels more as a target or FTA but not the best to play as a primary setup . .too minor.

However . . . Hans and Chanya . .in a strong trending market these minor levels can be very reactive . .

EurNzd ..
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Indicators show the past. Price Action "Indicates" the future.
  • #117,454
  • Sep 5, 2012 3:27pm Sep 5, 2012 3:27pm
Quoting jarroo
Nice charts brzvadeg . .
Let them be a good trades.
  • #117,455
  • Sep 5, 2012 3:31pm Sep 5, 2012 3:31pm
Quoting jarroo
However . . . Hans and Chanya . .in a strong trending market these minor levels can be very reactive . .

EurNzd ..
Do you often take trades long when pbt&ca a LCS level and vice versa ? I was under the impression that we should be looking for shorts when pbt&cb and longs when pbt&ca.
  • #117,456
  • Sep 5, 2012 3:32pm Sep 5, 2012 3:32pm
NZD CAD , Will it be a daily close confirmation ??? Lets see ...
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Human
  • #117,457
  • Sep 5, 2012 3:34pm Sep 5, 2012 3:34pm
Quoting Chanya
If there are any Australian people out here , I am ecstatic to inform you that you Cricket team has been beaten BADLY by my national team , Pakistan ...
Wow I didn't even know, that there are national teams in cricket I was always thinking that only English guys play cricket...I must try it some time...
  • #117,458
  • Sep 5, 2012 3:35pm Sep 5, 2012 3:35pm
Quoting rafstraszek
Wow I didn't even know, that there are national teams in cricket I was always thinking that only English guys plays cricket...
Come on man ... That's a Low blow ...
Human
  • #117,459
  • Sep 5, 2012 3:35pm Sep 5, 2012 3:35pm
Quoting dan89
Do you often take trades long when pbt&ca a LCS level and vice versa ? I was under the impression that we should be looking for shorts when pbt&cb and longs when pbt&ca.
Yes that's correct, dan. But there are situation where the other applies. . .Strong consolidation areas and when in a strong trending market.
Indicators show the past. Price Action "Indicates" the future.
  • #117,460
  • Sep 5, 2012 3:36pm Sep 5, 2012 3:36pm
Quoting Chanya
NZD CAD , Will it be a daily close confirmation ??? Lets see ...

Couldn't you go long if it closes Above??
Indicators show the past. Price Action "Indicates" the future.
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