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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

  • #117,581
  • Sep 6, 2012 10:07am Sep 6, 2012 10:07am
EURAUD is looking pretty juicy here to me...


the pin isnt all that big, but it altogether it looks pretty strong on the weekly
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  • #117,582
  • Sep 6, 2012 10:08am Sep 6, 2012 10:08am
Hey guys.

Today i got 2 losses with the PBT on EURAUD and GBPAUD ( which are so highly correlated that i basically doubled my risk on one of them ).

Yesterday PBT CA, and i put a buy limit on both. Could this have been avoided without a Daily Close Confirmation of Support?

Thanks

Btw, when it works , its great...I got 4 High/Lows of the Day in 1 week of studying PBT.
I don't need easy. I just need possible.
  • #117,583
  • Sep 6, 2012 10:14am Sep 6, 2012 10:14am
Quoting DaGrizlyBull
Hey guys.

Today i got 2 losses with the PBT on EURAUD and GBPAUD ( which are so highly correlated that i basically doubled my risk on one of them ).

Yesterday PBT CA, and i put a buy limit on both. Could this have been avoided without a Daily Close Confirmation of Support?

Thanks
look at my post right above...I think when identifying those levels you need to always look at the bigger picture. If you went long there you were trading right into a whole lot of trouble right above...

I know it had broken through a lot as well, (fib, and RN) but I think all that was negated by the other trouble areas.

After waiting to see what happened you can now trade confidently with ALL of those factors going for you:

1. TL
2. FIB
3. RN
4. weekly pin (although small)
5. MA right above
  • #117,584
  • Edited 10:29am Sep 6, 2012 10:17am | Edited 10:29am
Quoting DaGrizlyBull
Hey guys.

Today i got 2 losses with the PBT on EURAUD and GBPAUD ( which are so highly correlated that i basically doubled my risk on one of them ).

Yesterday PBT CA, and i put a buy limit on both. Could this have been avoided without a Daily Close Confirmation of Support?

Thanks
Yep - here this same...I didn't even notice, that I took this same trade twice, until morning...then a little panic ...closed one (don't remember which) nearly be, and tighten stop of second - In the end I lost maybe 1/4 of my normal risk...so not bad...almost be you can say

I'm also long in eurcad...stupid pair - didn't even notice my hcr/lcs
But stopped this fast short move finally (at other minor lcs - few pips above my sl) - now situation is a little better (still loss though)...we will see...maybe it was a mistake to take trade in this consolidation...
I hope, that I finally get used to this - a little less emotions and caring would be nice... But hey, what does not kill you - makes you stronger
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  • #117,585
  • Sep 6, 2012 10:25am Sep 6, 2012 10:25am
Quoting ritesh_fx
Hi,

I am looking for some pullback price action at the white line support. Howz it looking, any comments ?
In terms of the closes your level looks pretty well defined on the daily. But I personally would be hesitant to take a J16 trade here. First of all it wouldn't be at a real deep swing low. Second, price just hit the VBRN 2.0000 which also lines up with a prominent weekly PPZ and a recent daily 50 % fib. This all would stand against a possible continuation pattern at your level.

BTW, you don't need to upload images via ImageShack. Just click on "Manage Attachements" below the text editor and upload the image(s) to the FF server. That also makes it easier for us to look at them.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #117,586
  • Sep 6, 2012 10:27am Sep 6, 2012 10:27am
Quoting trc
This is nice
I think this is j16 classic + jarroo pbt&cb mixed together

Attachment
yeah, nice one my friend
  • #117,587
  • Sep 6, 2012 10:34am Sep 6, 2012 10:34am
this is a late post. was to post earlier before the breakout of the TBL.
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"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #117,588
  • Sep 6, 2012 10:50am Sep 6, 2012 10:50am
Can anybody tell me how to attach a Chart or an image in the private message ???
Human
  • #117,589
  • Sep 6, 2012 10:56am Sep 6, 2012 10:56am
Quoting Chanya
Can anybody tell me how to attach a Chart or an image in the private message ???
I'm not sure but I think using some other hosting (like imeageshack) is necessary...
  • #117,590
  • Sep 6, 2012 11:16am Sep 6, 2012 11:16am
Interested to see how this one ends up closing... Lets see if it can close below the 1.55, 365 ema and the Weekly HCR
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  • #117,591
  • Sep 6, 2012 11:17am Sep 6, 2012 11:17am
Could this be the start of a big move? Price seemed to spring off that PPZ almost perfectly? If so, how do you manage this sort of trade? For some reason, I find the big trend trades really stressful to manage because I don't know how or when to lock in profits, move to BE, etc.
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  • #117,592
  • Sep 6, 2012 11:18am Sep 6, 2012 11:18am
Quoting trc
This is nice
I think this is j16 classic + jarroo pbt&cb mixed together

Attachment
good one TRC! Good use of confluence there well done

Best

Mike
  • #117,593
  • Sep 6, 2012 11:19am Sep 6, 2012 11:19am
Quoting ritesh_fx
Hi,

I am new to forex and recently joined ff.

As a trader though I have traded equities/commodities market over more then few years but my journey has been no different then a average starter in this business. Lots of oops, ooh..burnt a/c

But, finally it looks now that this wonderful thread can help me get out of the troubled waters that otherwise I had myself immersed into. I have gone through complete first post and all the links and materials from it. It has gr8 value and above all with simplicity.

Gr8tly appreciate all the J16...

Welcome Ritesh

I would try to get a broker that closes at 5pm. I don't know any that close at 4pm although the change from 4-5 is generally not that big of a difference. I would still be careful as the true use of the candles we do not make any assumptions until they close.

Welcome to the thread best of luck

Mike
  • #117,594
  • Sep 6, 2012 11:22am Sep 6, 2012 11:22am
Quoting Winston Reed
Not in this but looks nice.
great bullish outside bar at swing low with gap to close. That's pretty good confluence there

Best
Mike
  • #117,595
  • Sep 6, 2012 11:24am Sep 6, 2012 11:24am
Quoting ritesh_fx
Hi,

I am looking for some pullback price action at the white line support. Howz it looking, any comments ?

http://img823.imageshack.us/img823/4...ly06092012.jpg

Uploaded with ImageShack.us
looks good ritesh there is a nice pivot level as well as a "gap" around 9750 a bit lower. These are "zones" though so don't forget that. I think down a bit further we could see a bounce.

Right now the BRN 2.000 shut price down, not a huge surprise

Best
mike
  • #117,596
  • Sep 6, 2012 11:42am Sep 6, 2012 11:42am
Quoting HanSolo
In terms of the closes your level looks pretty well defined on the daily. But I personally would be hesitant to take a J16 trade here. First of all it wouldn't be at a real deep swing low. Second, price just hit the VBRN 2.0000 which also lines up with a prominent weekly PPZ and a recent daily 50 % fib. This all would stand against a possible continuation pattern at your level.

BTW, you don't need to upload images via ImageShack. Just click on "Manage Attachements" below the text editor and upload the image(s) to the FF server. That also makes...
Many Thanks Hansolo for your detailed response to my posts. Nice to get such insights.

I wasn't sure of way to add images in ff, good that you provided the answer even before asking. Nice One !! Thank You.
Success is 1 % intelligence and 99% perseverance - Edison
  • #117,597
  • Sep 6, 2012 11:54am Sep 6, 2012 11:54am
Quoting slade1986
Interested to see how this one ends up closing... Lets see if it can close below the 1.55, 365 ema and the Weekly HCR
am watching the same thing..hope it closes below the 150 EMA and it even has room to go..perhaps closing the gap that was never revisited when it gapped up on monday.

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  • #117,598
  • Sep 6, 2012 11:55am Sep 6, 2012 11:55am
Quoting mbqb11
looks good ritesh there is a nice pivot level as well as a "gap" around 9750 a bit lower. These are "zones" though so don't forget that. I think down a bit further we could see a bounce.

Right now the BRN 2.000 shut price down, not a huge surprise

Best
mike
Thanks Mike. Its gr8 to have forum conversation with you directly. High regards to you, have been thru you PF videos, good learning for me. Really appreciate your prompt responses.

Will look for a 5 PM close daily bar broker.

Thanks,
Ritesh
Success is 1 % intelligence and 99% perseverance - Edison
  • #117,599
  • Sep 6, 2012 11:58am Sep 6, 2012 11:58am
What are your opinions about this setup? I took it on demo account. Itīs 61% Fibonacci retracement and retest of RN, but I am not sure if the location is strong enough. Thank you for answers.
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  • #117,600
  • Sep 6, 2012 12:01pm Sep 6, 2012 12:01pm
Quoting Martin600
What are your opinions about this setup? I took it on demo account. Itīs 61% Fibonacci retracement and retest of RN, but I am not sure if the location is strong enough. Thank you for answers.
Didn't get h4 signature so I'm gonna stay for now (got even h4 pinbar )
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