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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

  • #119,581
  • Oct 8, 2012 3:40pm Oct 8, 2012 3:40pm
mike thank you for your replay and thanks for the heads up on the simple number. the points you noted on the chart is what i looked at except the trend line! thanks for the charts it is great help. i will reconsider this trade.
Thank you J16 & Trader Dante
  • #119,582
  • Oct 8, 2012 4:12pm Oct 8, 2012 4:12pm
Rising wedge with MACD divergence on this pair. It will be interesting to see 1. What happens if there is a 50-61.8% retrace of the daily BEOB which is also a DBHLC (a sell at that time reduces risk).

2. Or wait and see if the low of the previous BEOB breaks (a move below gives more confidence to further downside).

Previous points made definitely must be considered. Safest to wait for PA through or below the rising TL.
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  • #119,583
  • Oct 8, 2012 6:23pm Oct 8, 2012 6:23pm
Quoting Winston Reed
Rising wedge with MACD divergence on this pair. It will be interesting to see 1. What happens if there is a 50-61.8% retrace of the daily BEOB which is also a DBHLC (a sell at that time reduces risk).
Exactly, waiting for the break and then a retrace. If that happens then a sell at the 50 or 61.8 retrace.
  • #119,584
  • Oct 8, 2012 9:19pm Oct 8, 2012 9:19pm
Quoting Pinbar
Yes, I did see that.
I took the H4 BUEOB off the Daily LCS at the major SL.

Took plenty off at the FTA and, got stopped out at BE+ on the remaining position.

Nice one Steve . .I like that target you chose too . .
Indicators show the past. Price Action "Indicates" the future.
  • #119,585
  • Oct 8, 2012 9:43pm Oct 8, 2012 9:43pm
Quoting trc
I'm glad you like it Jim - It was fun to watch EURGBP this week, it behaved really nice so I decided to squeeze it to the max this is how it looks right now:


Regards,
Peter

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Great chart Peter . . .

Price sure looks like its itching to go higher . . on the EurGbp.

I'm surprised that Price hasn't Bammed!! down from there yet. .those are Weekly / Daily HCR levels . .Strength . .

. .well it did on the Open of the week forming the "damn gap" . .lol . .that makes sense . .

It looks like Price likes the weather up here and may go much higher . . .Some Daily Closes Above those HCR levels would convince me . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #119,586
  • Oct 8, 2012 10:50pm Oct 8, 2012 10:50pm
Quoting Winston Reed
I sold on a retrace to the red daily line. It has gone through this and retraced 61.8% of the previous daily candle which was a DBHLC/BEOB. Not fun taking this kind of heat but you have to have faith in your method. Anyway we'll see how it goes.
Hey Winston,

I can understand why you wanted to short the pull back to the LCS but it still isn't always as simple as that. A lot depends on the ongoing story.

I see the DBHLC/BEOB and the double top but what I am also looking at, and which I exclusively look out for is that the low of the BEOB is infact a fake out of the major prior swing low. Look at it another way the BEOB has a very weak close that Mike would tell you to stay away from.

Remember the picky mantra?

EVERYTHING MUST LINE UP

g.
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I believe . . .
  • #119,587
  • Oct 9, 2012 1:58am Oct 9, 2012 1:58am
Mr. Ghous!
Can we say it also a fake out from 1.30?
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Price Is The Best Indicator Itself.
  • #119,588
  • Oct 9, 2012 2:28am Oct 9, 2012 2:28am
Quoting bullzeye
GBP/USD

BAMM!!! Now this is a Mike bar

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GBP/USD

took profits yesterday (i get impatient ) still running another position, a lot of space down there...

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  • #119,589
  • Oct 9, 2012 2:31am Oct 9, 2012 2:31am
EUR/GBP

important area here, resistance, BRN 0.8100 and TL...look for PA

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  • #119,590
  • Oct 9, 2012 2:41am Oct 9, 2012 2:41am
Quoting bullzeye
GBP/CHF

i still loving it...FTA ahead, i will add another...

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GBP/CHF

this was though... took me 3 weeks to get there, hit almost my first SL but then turn around

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  • #119,591
  • Oct 9, 2012 2:55am Oct 9, 2012 2:55am
Quoting Thierry
I want to join the PF very soon, but i have no visa, so wait for answer from James to pay with other paymethod.
Hi Thierry, I´m also thinking about joining PF someday, but don´t have visa or mastercard (never really needed them so far). Could you please send me PM when James sends you answer?

Mav
  • #119,592
  • Oct 9, 2012 3:12am Oct 9, 2012 3:12am
Quoting ghous
Hey Winston,

I can understand why you wanted to short the pull back to the LCS but it still isn't always as simple as that. A lot depends on the ongoing story.

I see the DBHLC/BEOB and the double top but what I am also looking at, and which I exclusively look out for is that the low of the BEOB is infact a fake out of the major prior swing low. Look at it another way the BEOB has a very weak close that Mike would tell you to stay away from.

Remember the picky mantra?

EVERYTHING MUST LINE UP

g.
Thanks Ghous for your input

its indeed a difficult one, but on the weekly the picture seems clearer to me, so i took also a short on this one...

but to get picky is another lesson that i had to learn

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  • #119,593
  • Oct 9, 2012 4:10am Oct 9, 2012 4:10am
Quoting bullzeye
Thanks Ghous for your input

its indeed a difficult one, but on the weekly the picture seems clearer to me, so i took also a short on this one...

but to get picky is another lesson that i had to learn

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So what's the lesson here ? - Mind lows/highs!
A see a lot of you guys, i really don't know why, ignore lows for closes. Closes are important sure thing, but don't forget that FX is not a centralized market. It NEVER closes!!! What this means? It means that they are no REAL closes out there (except for hourly and lower). The closes you see are your broker chopping up the price movements in pieces for your convenience I am sure you know that already, but closes differ from one broker to another, whether the time they choose to close!
In other hand lows are equal to all people, who watch the market. Don't ignore them guys I know Jarroo executes on closes, but i know too he does NOT ignore lows/highs

P.S. Watch closely this guy Ghous. He pops out rarely, so load your rifle ready hehe! He has some serious aces in his sleeves I like him a lot. Pretty sad he doesn't update his blog a lot
  • #119,594
  • Oct 9, 2012 4:39am Oct 9, 2012 4:39am
Quoting Rust
So what's the lesson here ? - Mind lows/highs!
A see a lot of you guys, i really don't know why, ignore lows for closes. Closes are important sure thing, but don't forget that FX is not a centralized market. It NEVER closes!!! What this means? It means that they are no REAL closes out there (except for hourly and lower). The closes you see are your broker chopping up the price movements in pieces for your convenience I am sure you know that already, but closes differ from one broker to another, whether the time they choose to close!
In...
Thanks Rusty

Yes you right, the shape of the bar is always important. But it depends on your TF as well and in this case i see a strong close, isn't so?

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  • #119,595
  • Oct 9, 2012 7:08am Oct 9, 2012 7:08am
Quoting bullzeye
Thanks Rusty

Yes you right, the shape of the bar is always important. But it depends on your TF as well and in this case i see a strong close, isn't so?

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Hey bullz,
sorry but still not enough for me. Maybe i am just too picky, i don't know
As i said several posts ago, i even took this long and closed some quick profit.
  • #119,596
  • Oct 9, 2012 7:59am Oct 9, 2012 7:59am
Quoting Mav13
Hi Thierry, I´m also thinking about joining PF someday, but don´t have visa or mastercard (never really needed them so far). Could you please send me PM when James sends you answer?

Mav
Hey Mav

I know a bunch of you are waiting for instructions. James finds western union a pain so he's beginning to setup a paypal for those of you that don't have a Visa or MC

I will keep you guys posted should be soon

Best
Mike
  • #119,597
  • Oct 9, 2012 8:20am Oct 9, 2012 8:20am
Quoting mbqb11
Hey Mav

I know a bunch of you are waiting for instructions. James finds western union a pain so he's beginning to setup a paypal for those of you that don't have a Visa or MC

I will keep you guys posted should be soon

Best
Mike
Hi Mike, thanks for response. Paypal sounds good. Well, in the meantime I´ve got still some stuff from this thread to understand and backtest. But I look forward to check your videos on PF someday.
  • #119,598
  • Oct 9, 2012 8:20am Oct 9, 2012 8:20am
Quoting Rust
Hey bullz,
sorry but still not enough for me. Maybe i am just too picky, i don't know
As i said several posts ago, i even took this long and closed some quick profit.
What was your "picky" criteria for that long.
  • #119,599
  • Oct 9, 2012 8:30am Oct 9, 2012 8:30am
Quoting Mav13
Hi Mike, thanks for response. Paypal sounds good. Well, in the meantime I´ve got still some stuff from this thread to understand and backtest. But I look forward to check your videos on PF someday.
They ain't gonig anywhere

Shoot me a PM I know some of you have been very patient uploaded my last webinar so you could have something to occupy in the mean time

Best
Mike
  • #119,600
  • Oct 9, 2012 8:59am Oct 9, 2012 8:59am
Check out post #10 of this thread. James has a nice chart on continuation signals.
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