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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

  • #120,601
  • Nov 8, 2012 10:38pm Nov 8, 2012 10:38pm
Quoting mbqb11
Happy Bday to the one and only James16!!! That man has given so much to so many for so many years. I can only wish him the very best of another great year



love ya buddy
Is it that time again . .that was quick . .

Happy BDay big guy . . .
Indicators show the past. Price Action "Indicates" the future.
  • #120,602
  • Nov 9, 2012 1:46am Nov 9, 2012 1:46am
Quoting jarroo
That's not bad Steve . .looking at Monthly or even Weekly levels on the 4 Hour TF or even the hourly . .

What I have found is that when different TF HCR/LCS levels line up can be very strong. . .like this Daily /Weekly HCR on the Euro . .

Price returrns and prints a Daily Close Confirmation of Resistance . meaning Price could not Close above the Daily /Weekly HCR level
. Confirmation that the level is still Resistance and . .. Bam!! . .

Look for these HCR/LCS levels when they line up on higher TFs . . they can be very powerful .. ....

Yes Jim, I hear you and, am also watching the EU on the way back down.

Thanks Jim
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  • #120,603
  • Nov 9, 2012 3:22am Nov 9, 2012 3:22am
Quoting Bones
im still in usd try ,im thinking not a lot of selling at all today ,mind you with such a swop I can see why ,ill be honest I thought higher tfs looked bearish near term too ,but im willing to go for weekly ,range play
It broke the last couple of days' range to the upside. Bad sign for the sellers (like me). Now it's up to damage reduction.
  • #120,604
  • Nov 9, 2012 3:46am Nov 9, 2012 3:46am
Yea rust in all honesty I couldnt say how far it would go ,im not keen on the spread or the swap ,or the pair lol ,
never traded it or opened it before


Quoting Rust
It broke the last couple of days' range to the upside. Bad sign for the sellers (like me). Now it's up to damage reduction.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,605
  • Nov 9, 2012 3:57am Nov 9, 2012 3:57am
Quoting Bones
Yea rust in all honesty I couldnt say how far it would go ,im not keen on the spread or the swap ,or the pair lol ,
never traded it or opened it before
Well it's my second time trading it. And i already hate it, due to it's choppiness and spread widening. First time i took a full loss, because i was unable to reduce risk because spread was going crazy through the night. I dig a picture for you if you wanna look what i mean - pretty nasty eh ? I played the BEOB pointed by the arrow.
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Don't pay attention to my notes in Bulgarian It's from my archive i keep.
  • #120,606
  • Nov 9, 2012 4:18am Nov 9, 2012 4:18am
lol ,its not easy this trading lark is it ,im not going to trade try again


Quoting Rust
Well it's my second time trading it. And i already hate it, due to it's choppiness and spread widening. First time i took a full loss, because i was unable to reduce risk because spread was going crazy through the night. I dig a picture for you if you wanna look what i mean - pretty nasty eh ? I played the BEOB pointed by the arrow.
Attachment

Don't pay attention to my notes in Bulgarian It's from my archive i keep.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,607
  • Nov 9, 2012 4:25am Nov 9, 2012 4:25am
What I mean here is im reading price ,im looking at what it is doing to judge bullish or bearish ,you can have moves for just a test its very important ,if that happens you can feel safer






Quoting Bones
Hi Vitor

Its the story of what it did and location ,
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,608
  • Nov 9, 2012 4:58am Nov 9, 2012 4:58am
Bull this is how I see gold ,see how week closes
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,609
  • Nov 9, 2012 5:16am Nov 9, 2012 5:16am
Quoting Bones
What I mean here is im reading price ,im looking at what it is doing to judge bullish or bearish ,you can have moves for just a test its very important ,if that happens you can feel safer
AudJpy was very good by what i look for as well. Very clear divergence for bigger picture and a head and shoulders for entry. A pity that i was sleeping when it tested back the former support.
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  • #120,610
  • Nov 9, 2012 5:19am Nov 9, 2012 5:19am
Happy Birthday James16!

Glad you have some heat now Mike, hope the cleanup operation is going well!

I've got a couple of charts on a possible breakout trade on EURCAD Daily, I'm currently waiting for a bearish PA signal on the H4...

Any/all comments are welcome... Thanks,

Munk.
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  • #120,611
  • Nov 9, 2012 5:39am Nov 9, 2012 5:39am
Quoting MUNkeyRO
Happy Birthday James16!

Glad you have some heat now Mike, hope the cleanup operation is going well!

I've got a couple of charts on a possible breakout trade on EURCAD Daily, I'm currently waiting for a bearish PA signal on the H4...

Any/all comments are welcome... Thanks,

Munk.
I find it great! Only thing left is to find an entry.
Maybe a nice pinbar from the 65.00 ?
  • #120,612
  • Nov 9, 2012 5:46am Nov 9, 2012 5:46am
Quoting MUNkeyRO
Happy Birthday James16!

Glad you have some heat now Mike, hope the cleanup operation is going well!

I've got a couple of charts on a possible breakout trade on EURCAD Daily, I'm currently waiting for a bearish PA signal on the H4...

Any/all comments are welcome... Thanks,

Munk.
Hello MunkeyRO!

I was looking this pair too. Here is my view on it, but I'm really new here. I'm also intrested in some opinion from an experienced trader.
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  • #120,613
  • Nov 9, 2012 5:56am Nov 9, 2012 5:56am
Quoting Rust
I find it great! Only thing left is to find an entry.
Maybe a nice pinbar from the 65.00 ?
I Haven't seen your comment before....The FTA isn't too close?

(I would like to say Happy birthday to James16. Best thread ever.)
  • #120,614
  • Nov 9, 2012 5:58am Nov 9, 2012 5:58am
Quoting mbqb11
Happy Bday to the one and only James16!!! That man has given so much to so many for so many years. I can only wish him the very best of another great year


love ya buddy
Happy Birthday James and thanks for this thread and PF.

Also I hope that all will be fine in New York, Mike hang in there buddy.

Mav
  • #120,615
  • Nov 9, 2012 6:02am Nov 9, 2012 6:02am
Took this morning CHF.YEN...nice break....YEN very strong.
Break of daily HCR
Closed below 200 ema and weekly HCR...
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  • #120,616
  • Nov 9, 2012 6:11am Nov 9, 2012 6:11am
Happy Birthday James16,
,best wishes and thank you for your work!
  • #120,617
  • Nov 9, 2012 6:24am Nov 9, 2012 6:24am
nzd jpy monthly


Quoting KarlfromHU
Hello MunkeyRO!

I was looking this pair too. Here is my view on it, but I'm really new here. I'm also intrested in some opinion from an experienced trader.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,618
  • Nov 9, 2012 6:27am Nov 9, 2012 6:27am
Hi Rust what your feeling usd cad im thinking looks very bullish
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,619
  • Edited 7:14am Nov 9, 2012 6:29am | Edited 7:14am
Quoting KarlfromHU
I Haven't seen your comment before....The FTA isn't too close?

(I would like to say Happy birthday to James16. Best thread ever.)
I don't think it's THAT close. Here is my plan:
You expect this FTA to bounce price. Very good. If life has given you a lemon, make a lemonade they say Trade has given you an FTA -> use it!
It's a good story, if you find your decent entry -> short it!
1 - let's say price has reached the FTA. What do we expect? A bounce right?! I should not sit and wait.... take full profit! It's a nice profit ! (ok, i know most of you will sit and hope for a break, EVEN if you KNOW it will bounce, you HAVE IT marked on your chart! I used to do this for a long time ... )
2 - price bounces- right as we expected. You still believe it's a good story ?
No -> enjoy your profit
Yes -> hammer it down again at a better price (on retrace)! This PPZ will have already 3 touches to it. If price comes to a zone again and again it's not cause it's just enjoying going up and down. It's because it wants to break it! Support/Resistance is mean to be broken!...they say
Price comes down for the 4th time now -> pretty high probability to break down having the great story behind you. What happens? :
- Price breaks lower -> you are happy because you are going to the next FTA. OR
- Price bounces back and takes you out -> you are still with highly reduced loss due to your first winner (sometimes even on the + depending which one is bigger)

And you will ask what happens if price cuts through the FTA right on the first attempt and make a unbelievable move in our direction. Well, you will miss the big move and you still end with a profit. Nevertheless this is more of a rare situation, because as we all know markets move in waves (even if we want to rally vertical the moment we are in ). So i don't think over the long run those big moves will recover what you lost while waiting for one.

Hope it makes some sense. English is not my mother language so sometimes i am not sure if i sound like i know what i talk hahaha

Of course that is just one view how you can approach things. Not to say it is the best, or flawless ... it's just how i see it.
  • #120,620
  • Nov 9, 2012 6:36am Nov 9, 2012 6:36am
Gold H6

Quoting Bones
Bull this is how I see gold ,see how week closes
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