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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

  • #118,461
  • Sep 14, 2012 4:18pm Sep 14, 2012 4:18pm
Quoting nwo-trader
GBPUSD has treated me really well these past two weeks :-) Added into my position with the Monday daily IB on the 1.60 BRN. Trailing my stops up now, don't want to give much of this back at all. Lower lows made on the weekly/monthly charts, weekly descending TL breached, more upside is possible. Honestly think we may eventually make higher highs on the weekly/monthly charts.
well done bro! shows us a chart, a chart speak more words then anything else...
  • #118,462
  • Sep 14, 2012 5:01pm Sep 14, 2012 5:01pm
Quoting bullzeye
very nice Rusty
Eh, i'm still not good as i want at trade management, but at least a profit. I am working on maximizing the potential of the setups i take.
  • #118,463
  • Sep 14, 2012 5:23pm Sep 14, 2012 5:23pm
Quoting bullzeye
well done bro! shows us a chart, a chart speak more words then anything else...
Sure, some of the other trades were entered with lower time frame PA. Kind of embarrassed to show today's trade and the fact that I didn't get all my stops moved up before market close.

I've only got until Sept 29th until IBFX closes out my account - was notified a few weeks ago that they are no longer servicing residents of Ontario, Canada. Kind of bummed, this accounts 1 year anniversary is coming up, and it has grown considerably. :-) Oh well onto the next broker(s).
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Price is beautiful. A repetitive method is a competitive method.
  • #118,464
  • Sep 14, 2012 5:38pm Sep 14, 2012 5:38pm
Today's set up and results Took position about 1:00 EST stopped out with modest profits on 7 .01 microlots upon awakening I reexamined my trade plan still in zone so long 8 min lots small micro short to test supply then reentry long and close There is so much to learn but so much joy as we grow.
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Trading Consultants Inc JJG
  • #118,465
  • Sep 14, 2012 7:02pm Sep 14, 2012 7:02pm
Mike, I need your opinion on this PB setup. It looks like a nice PB with a long nose at a swing high. You mentioned looking for Pa that jumps off the screen, this one does to me. What do you think

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  • #118,466
  • Sep 14, 2012 9:10pm Sep 14, 2012 9:10pm
Quoting dan89
Mike, I need your opinion on this PB setup. It looks like a nice PB with a long nose at a swing high. You mentioned looking for Pa that jumps off the screen, this one does to me. What do you think

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Hey Dan

I like this one too...BUT what is the first thing that you think would jump out at me ?


Mike
  • #118,467
  • Sep 15, 2012 12:51am Sep 15, 2012 12:51am
Just pop by to say hi to everyone here, just started reading
  • #118,468
  • Sep 15, 2012 1:19am Sep 15, 2012 1:19am
Quoting mbqb11
Hey Dan

I like this one too...BUT what is the first thing that you think would jump out at me ?


Mike
Size of the Pinbar in comparison to the previous upwards move ?
Human
  • #118,469
  • Sep 15, 2012 1:21am Sep 15, 2012 1:21am
Quoting Chanya
Size of the Pinbar in comparison to the previous upwards move ?
The PB looks of a decent size to me. Maybe its the consolidation area to the left that might cause some problems ?
  • #118,470
  • Sep 15, 2012 1:27am Sep 15, 2012 1:27am
Quoting dan89
The PB looks of a decent size to me. Maybe its the consolidation area to the left that might cause some problems ?
It's the close. Weak close. Closed above previous bars close.
That depends what feed you use. Mine closed barely red.
  • #118,471
  • Edited 2:01am Sep 15, 2012 1:43am | Edited 2:01am
Quoting Gogolak
Guys!
What do you do if the PBT&CA/CB but only a few pips distance from the HCR/LCS or almost at the same level. Do you open a position at the market price or just ignore that signal? Often not so clean the signal.
What do you do in this case?
In such a case I would look out for two things: space to the left and maybe some continuation pattern below like a PB or BUOB at the bottom of the breakout range. If both show up I'm more likely to take the trade. That said I'm only trading Jarroo's method for about 2-3 weeks now. But breakouts in general have a higher probability when trading into space and maybe a strong PA before the breakout.

Quoting mbqb11
I know the govt basically gave a free pass to the markets yesterday but that's still a bit unrealistic. When markets get this hot this fast something usually has to give. At least to reset things. SO let's see where we can watch for trade ideas. Same spots as the previous eur/usd chart I sent out. And as well we can look for both longs and shorts since these areas are highly confluenced. Of course long's seem more logical since we are now above major support at least in the short term.
I was thinking why so many pairs took off without me yesterday. That's probably the reason.

Quoting gudras
I'm closing EUR/CAD
Very nice, Gudras. I moved my stop to BE pretty early and was stopped out before it took off.
Thanks J16, Sam Seiden, Udine and Jacko
  • #118,472
  • Sep 15, 2012 2:03am Sep 15, 2012 2:03am
Quoting Chanya
Some one please PLEASE ask me what has become of my Platinum trade ???
Great one, Chanya!
Thanks J16, Sam Seiden, Udine and Jacko
  • #118,473
  • Sep 15, 2012 2:40am Sep 15, 2012 2:40am
Some trades for next week which are on my radar, based on engulfing candles bullish or bearish.
EUR.NZD - bearish engulfing candle, but we trading into the 50% fib and some HCR levels.
AUD.CHF - bearish engulfing candle, but is in a box with 200 ema below and LCS.
NZD.CHF - bearish engulfing candle, but 200 ema below and LCS. But more room for movement before running into FTA.
CAD.CHF - bearish engulfing candle, but 200 ema below and LCS. FTA 0.94200 area. Already in this one, retrace to LCR would be a better entry.
Please comment?
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  • #118,474
  • Sep 15, 2012 2:45am Sep 15, 2012 2:45am
Quoting dan89
Mike, I need your opinion on this PB setup. It looks like a nice PB with a long nose at a swing high. You mentioned looking for Pa that jumps off the screen, this one does to me. What do you think

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My 2 cents.
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If not up, then down, otherwise sideways :-)
  • #118,475
  • Sep 15, 2012 3:13am Sep 15, 2012 3:13am
Quoting Magestic
My 2 cents.
You are getting good, man! Seems you start to incorporate loss of momentum in your favor Have you seen Mike's webinars from the PF ?
  • #118,476
  • Edited 8:51am Sep 15, 2012 3:33am | Edited 8:51am
Originally Posted by dan89
Mike, I need your opinion on this PB setup. It looks like a nice PB with a long nose at a swing high. You mentioned looking for Pa that jumps off the screen, this one does to me. What do you think

Attachment 1039195

The observation I have is there is quite a strong HCR as the FTA just below the low of the PB. You would want to get to BE fairly quick, if price does not break through this level it could be heading back up.
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  • #118,477
  • Sep 15, 2012 4:28am Sep 15, 2012 4:28am
Quoting moneyrunner
Some trades for next week which are on my radar, based on engulfing candles bullish or bearish.
EUR.NZD - bearish engulfing candle, but we trading into the 50% fib and some HCR levels.
AUD.CHF - bearish engulfing candle, but is in a box with 200 ema below and LCS.
NZD.CHF - bearish engulfing candle, but 200 ema below and LCS. But more room for movement before running into FTA.
CAD.CHF - bearish engulfing candle, but 200 ema below and LCS. FTA 0.94200 area. Already in this one, retrace to LCR would be a better entry.
Please comment?
eur ,nzd is a buob not a beob patter running into supply zone so better to wait for a breakout above that level
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  • #118,478
  • Sep 15, 2012 4:52am Sep 15, 2012 4:52am
any one is familiar with rocco pattern , nice bull trap comin from demand area
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  • #118,479
  • Sep 15, 2012 4:54am Sep 15, 2012 4:54am
USDCAD D1


COT and retail positiong is at extremes. That D1 PB might be sign of profit taking and there is over net 100000 contracts to be liquidated on the short side in Futures market. Retail on the other hand is on the other side with large amount of losing positions on the long side. While EU / GU were rising UC was going in opposite direction on friday which tells a lot about the supply/demand state on this pair.
Will it end up as a common "sell the fact, buy the rumor" event? time will tell but next week will be interesting for sure.

Cheers & have a great weekend all
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  • #118,480
  • Sep 15, 2012 5:00am Sep 15, 2012 5:00am
High probability (in my book ) trade opportunity on UJ.
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