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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

  • #120,961
  • Nov 18, 2012 4:38am Nov 18, 2012 4:38am
AU
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A chart helps those who can read it.
  • #120,962
  • Nov 18, 2012 4:47am Nov 18, 2012 4:47am
Mike
Hello

We would be glad to receive your reviews



Sorry for my bad English
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  • #120,963
  • Nov 18, 2012 9:01am Nov 18, 2012 9:01am
Hi Guys,

I don't get why did this pin bar failed, it did touch 50% of entrancement from weekly fib level which i draw and broke the bottom of the pin bar. Would glad to receive some insights. Thank you in advance!
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  • #120,964
  • Nov 18, 2012 9:14am Nov 18, 2012 9:14am
Quoting giggles
Mike, here is a chart of YESBANK listed on the NSE (INDIA) that I am currently interested in.
Price has been in an uptrend from mid September onward after government of India announced its decision to allow foreign direct investment. There has been a pullback in October and then there is resumption of uptrend. Price has reached all time high and it seems to me that there is going to be a significant pullback.

I see plenty of confluence in the weekly and daily charts as shown in the charts.
beob has formed in weekly charts and a pinbar on the...

I am no expert , but my analysis of YesBank. I would not go short. Watch PA @ 400 before you make any decision. Good luck.
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  • #120,965
  • Nov 18, 2012 9:38am Nov 18, 2012 9:38am
Quoting geniusztc
here we go
that is some pivot there
  • #120,966
  • Nov 18, 2012 9:45am Nov 18, 2012 9:45am
Quoting geniusztc
here we go
Yes. wanna see some plunge
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  • #120,967
  • Nov 18, 2012 9:46am Nov 18, 2012 9:46am
Quoting giggles
Mike, here is a chart of YESBANK listed on the NSE (INDIA) that I am currently interested in.
Price has been in an uptrend from mid September onward after government of India announced its decision to allow foreign direct investment. There has been a pullback in October and then there is resumption of uptrend. Price has reached all time high and it seems to me that there is going to be a significant pullback.

I see plenty of confluence in the weekly and daily charts as shown in the charts.
beob has formed in weekly charts and a pinbar on...
Hey G

While I won't comment on what you should position size or how(financial advice is not legal to give and that can be constituted as that). I will say a weekly chart of YES is quite smooth. Being properly position sized(If one can't be based on a setup then one shouldn't be trading that setup or security) would not worry me on a chart like this as gaps are very rare, and very small when they occur.

As for the actual chart I see a very small beob on the weekly. I would want to see a more substantial size beob coming up off such a strong up move. A BRN alone is not enough for me. Price is squeezing but would have a long way to go for me before a setup. I marked a bigger size beob I would like to see.

Your space on the weekly chart is right but space on the daily chart is not. Being that the daily beob is at a swing low it can't be trading into space really. More so trading into trouble as space is what is to the left of price.In fact we could be trading right back into the rising TL and this is where people get into trouble with continuation bars if they play a break. I notice you want a retrace which makes sense(it's a good level of small resistance right now. But again also tricky as there is just not a ton of info. A tight stop would be ok if anything but I would say it's a decently aggressive trade compared to what I am used to.

I think we can find more clear trades out there, but overall this market looks more then fine to watch and trade. Even the daily chart from what you snapshot is pretty smooth.

Best
Mike
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  • #120,968
  • Nov 18, 2012 10:06am Nov 18, 2012 10:06am
Quoting mbqb11
that is some pivot there
yes! i prefer to see some weakness.
A chart helps those who can read it.
  • #120,969
  • Nov 18, 2012 11:08am Nov 18, 2012 11:08am
nvda on weekly.
close below the support.
weak friday (even weaker compared to the overall market).
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meine augen sind die sterne
  • #120,970
  • Nov 18, 2012 12:31pm Nov 18, 2012 12:31pm
Let's see what happens
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  • #120,971
  • Nov 18, 2012 12:39pm Nov 18, 2012 12:39pm
Hi guys,

I had a pending sellorder for CAD/JPY sideways market. It was triggered on friday. Everything is ok for now, but I don't like the fridays bar.


Any comments would be appreciated. If I translated the market wrong or did I oversaw some obstacles.
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  • #120,972
  • Nov 18, 2012 1:03pm Nov 18, 2012 1:03pm
Mike/Jim,

What is your opinion on the AUD/NZD?.

Looks like a good short for at least 500 Pips.
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  • #120,973
  • Nov 18, 2012 1:11pm Nov 18, 2012 1:11pm
Quoting annu333
Hi guys,

I had a pending sellorder for CAD/JPY sideways market. It was triggered on friday. Everything is ok for now, but I don't like the fridays bar.


Any comments would be appreciated. If I translated the market wrong or did I oversaw some obstacles.
Hey Annu

Pretty aggressive trade. I would prefer to see some PA to indicate what price wants to do here. If you follow Jarroo stuff price is now closing above the HCR which according to J would indicated bullish potential. I would prefer to watch when price breaks above the box or back below personally

Best
Mike
  • #120,974
  • Nov 18, 2012 1:13pm Nov 18, 2012 1:13pm
Quoting zamfir
Mike/Jim,

What is your opinion on the AUD/NZD?.

Looks like a good short for at least 500 Pips.
Hey Z

Very small pin in a very sideways market with little space. I assume that was a type and you meant 50 pips towards FTA

Best
Mike
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  • #120,975
  • Nov 18, 2012 1:20pm Nov 18, 2012 1:20pm
H4 view with H/S pattern and projection.
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  • #120,976
  • Nov 18, 2012 1:25pm Nov 18, 2012 1:25pm
Quoting mbqb11
Hey Z

Very small pin in a very sideways market with little space. I assume that was a type and you meant 50 pips towards FTA

Best
Mike
I did mean 500 pips. But i can see the support now @ 2650, if we get a close below this , it will be wonderful..
  • #120,977
  • Nov 18, 2012 1:33pm Nov 18, 2012 1:33pm
Quoting zamfir
I did mean 500 pips. But i can see the support now @ 2650, if we get a close below this , it will be wonderful..
500 pips would bring us to 1.22 area. Don't forget if you have an extra digit (a pipette) that is 1/10 of a pip. A pip would be from 1.2717 to 1.2716


just making sure as you said it looks good for at least 500 pips when there is a lot in the way all the way down in such a sideways enviornment

Best
mike
  • #120,978
  • Nov 18, 2012 1:35pm Nov 18, 2012 1:35pm
Quoting mbqb11
500 pips would bring us to 1.22 area. Don't forget if you have an extra digit (a pipette) that is 1/10 of a pip. A pip would be from 1.2717 to 1.2716

Best
mike
Those 5th digits sometimes confuse me
  • #120,979
  • Nov 18, 2012 1:44pm Nov 18, 2012 1:44pm
Quoting mbqb11
500 pips would bring us to 1.22 area. Don't forget if you have an extra digit (a pipette) that is 1/10 of a pip. A pip would be from 1.2717 to 1.2716


just making sure as you said it looks good for at least 500 pips when there is a lot in the way all the way down in such a sideways enviornment

Best
mike
i know there is a lot in the way.Three good levels to be exact, but there could be more.

Will wait and watch PA at the marked levels.

At the very least i should get breakeven.
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  • #120,980
  • Nov 18, 2012 1:47pm Nov 18, 2012 1:47pm
Quoting zamfir
i know there is a lot in the way.Three good levels to be exact, but there could be more.

Will wait and watch PA at the marked levels.

At the very least i should get breakeven.
that swap on audnzd short... will eat you alive...
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