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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

  • #118,021
  • Sep 10, 2012 11:56am Sep 10, 2012 11:56am
Hi,

I see USD/CHF at a nice daily support.

PBT&CB on friday in daily timeframe and today in 4hr timeframe see price hovering around the support but below it.

Looking this and looking at current view of daily chart pin bar setup does it looks to be a Jaroo trade.

One thing though that because of the retracement, the stop loss in this trade doesn't looks to be favoured one > 40 pips.

Attached daily and 4hr chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd_chf_pbtcb_lcs_d1_20120910.gif Size: 25 KB
Click to Enlarge Name: usd_chf_pbtcb_lcs_h4_20120910.gif Size: 23 KB
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,022
  • Sep 10, 2012 11:58am Sep 10, 2012 11:58am
Quoting HanSolo
LOL. Mike, after the topic of this thread has obviously changed I hope you don't mind me asking some silly trading question.

I just got your email analysis of GBPAUD. My question is: do you take those longer-term outlooks into account when evaluating a J16 setup like the weekly pinbar on this pair? Say confluence-wise this was an A+ pinbar, would the bottoming out of GBPAUD influence your trading decision?
Han, such offtopic - shame on you

Quoting dan89
Hmm ..Seem to be getting alot of failed setups

USD CHF Daily & H1 Charts below explains it.
But look - you have more than one hcr/lcs there...like Chanya said - they create something like ppz...I don't like this kinds of trades...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 25 KB
Click to Enlarge Name: usdchf2.gif Size: 26 KB
  • #118,023
  • Sep 10, 2012 12:13pm Sep 10, 2012 12:13pm
Hi,

USD/JPY - looks at good support and PBT&CA on friday ( Daily). How do we trade this one as Jaroo setup. I would expect price to retest the support but not sure how we trade the bounce back from support.

if it bounces back from this support what do we expect to see.. to find it as a valid setup. Is it a retest of LCS and then buy above the bar testing LCS or anything different.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy_pbtca_lcs_d1_20120910.gif Size: 24 KB
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,024
  • Sep 10, 2012 12:15pm Sep 10, 2012 12:15pm
Quoting extremerrage
sorry mike if i made u look like carlos tevez
Awesome
Human
  • #118,025
  • Sep 10, 2012 12:21pm Sep 10, 2012 12:21pm
chanya u know that we r in trouble
  • #118,026
  • Sep 10, 2012 12:29pm Sep 10, 2012 12:29pm
Quoting rafstraszek
Han, such offtopic - shame on you


Totally agree, Han , Please don't do stuff like this ...
Human
  • #118,027
  • Sep 10, 2012 12:30pm Sep 10, 2012 12:30pm
Quoting extremerrage
chanya u know that we r in trouble
Seriously , I am having that kind of feeling too ... Lets get back to trading now before we are kicked out !!!
Human
  • #118,028
  • Sep 10, 2012 12:46pm Sep 10, 2012 12:46pm
chanya , ur opinion is higly regarded
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  • #118,029
  • Sep 10, 2012 12:53pm Sep 10, 2012 12:53pm
Quoting extremerrage
chanya , ur opinion is higly regarded
I don't have this cross so I can't make my chart available ...

The level you marked with red color is no longer valid for me or for Jarroo I think because see how price has gathered around it , making it ineffective ... I would not base a trade upon is ...

Wait for the consolidation box to break out which ever way and then trade I would suggest ...

That was ur question ???
Human
  • #118,030
  • Sep 10, 2012 1:03pm Sep 10, 2012 1:03pm
Quoting Chanya
I don't have this cross so I can't make my chart available ...

The level you marked with red color is no longer valid for me or for Jarroo I think because see how price has gathered around it , making it ineffective ... I would not base a trade upon is ...

Wait for the consolidation box to break out which ever way and then trade I would suggest ...

That was ur question ???
Haha - I have cadchf now - When I asked support guys about this pair, they said that they are thinking about it - 2 weeks later pair appeared, and some others too

Mike we're sorry...please come back to us
  • #118,031
  • Sep 10, 2012 2:05pm Sep 10, 2012 2:05pm
Quoting mbqb11
locked and loaded

Highly recommended
scary ,exciting and adventurous .. must b mix of feelings ..

sry for extending this but wat was the altitude mike?

nice pic..
  • #118,032
  • Edited 3:00pm Sep 10, 2012 2:46pm | Edited 3:00pm
indeed, very slow market today. A lot of inside bars on so many pairs, the market take a breath to come back with strong moves. In such a times many traders fail and losing money because they are addictive to trading.

On these days not to trade is the best decision that we can make...:nerd:

P.S very nice shape Mike
  • #118,033
  • Sep 10, 2012 2:50pm Sep 10, 2012 2:50pm
GOLD/SILVER

this two got my full attention now

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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  • #118,034
  • Sep 10, 2012 3:09pm Sep 10, 2012 3:09pm
Quoting extremerrage
appologies mike but i cannot resist these muscles


yeaahh it seems Mike is working with only significant amounts of money...contracts not less than 150 kg ... :-)
all is eternal - this is good news for people who loves bad news
  • #118,035
  • Sep 10, 2012 3:14pm Sep 10, 2012 3:14pm
Quoting rafstraszek
Han, such offtopic - shame on you



But look - you have more than one hcr/lcs there...like Chanya said - they create something like ppz...I don't like this kinds of trades...
Not just just particular setup ... had a number of failed setups on other pairs that had nice clean swing points/hcr/lcs levels
  • #118,036
  • Sep 10, 2012 3:27pm Sep 10, 2012 3:27pm
Quoting HanSolo
LOL. Mike, after the topic of this thread has obviously changed I hope you don't mind me asking some silly trading question.

I just got your email analysis of GBPAUD. My question is: do you take those longer-term outlooks into account when evaluating a J16 setup like the weekly pinbar on this pair? Say confluence-wise this was an A+ pinbar, would the bottoming out of GBPAUD influence your trading decision?
OMG you guys are hilarious. I was cracking up for 5mins.

I generally have my outlooks separate but it also all blends together Han. For example the weekly pin on its on is very small sort of in the middle of no where, has a gap (potential support) right under us. So by itself we can evaluate it.

The longer term look I spoke about in the PF has the potential for CRITICAL areas on this pair

Hope that helps
Mike
  • #118,037
  • Sep 10, 2012 3:28pm Sep 10, 2012 3:28pm
Quoting AvanishDemo
scary ,exciting and adventurous .. must b mix of feelings ..

sry for extending this but wat was the altitude mike?

nice pic..
Was a little over 10000 feet. Cool stuff really was

Glad you guys got a kick out of it lol

Mike
  • #118,038
  • Sep 10, 2012 4:08pm Sep 10, 2012 4:08pm
Hello,

Close it or not ?.
Attached Image (click to enlarge)
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  • #118,039
  • Sep 10, 2012 4:10pm Sep 10, 2012 4:10pm
Quoting mbqb11
Was a little over 10000 feet. Cool stuff really was

Glad you guys got a kick out of it lol

Mike
You're close to that on posts!

Nice guns

T
  • #118,040
  • Sep 10, 2012 4:15pm Sep 10, 2012 4:15pm
Quoting Rosa
Hello,

Close it or not ?.
Close it ... Mine was closed at BE this morning ... Why have you held it till now ???
Human
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