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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

  • #121,301
  • Nov 30, 2012 7:33pm Nov 30, 2012 7:33pm
Quoting Pinbar
GBP/JPY also
Got my eye on that one too Steve . .nice . .

That's a Monthly, Weekly, and Daily Highest Close of Resistance level . .Strength . .

. . and we got the weekly 150 ema closing in for that additional confluence . .. .


Some nice size Bearish PA on the Daily or Weekly would be nice . .
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Indicators show the past. Price Action "Indicates" the future.
  • #121,302
  • Nov 30, 2012 7:37pm Nov 30, 2012 7:37pm
Quoting Pinbar
The M15 Pb off the monthly level, turned into an M30 PB, An H1 BEOB, an H4 BEOB (close was not so good) and a Daily PB with a not so good close on this feed but, I think this feed closes a little early.

Let's see what it does on Monday.

I like it Steve . .until we get a Daily Close above those levels (133.00-132.65) . .It Resistance all Day long . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,303
  • Nov 30, 2012 7:50pm Nov 30, 2012 7:50pm
Quoting jarroo
Got my eye on that one too Steve . .nice . .

That's a Monthly, Weekly, and Daily Highest Close of Resistance level . .Strength . .

. . and we got the weekly 150 ema closing in for that additional confluence . .. .


Some nice size Bearish PA on the Daily or Weekly would be nice . .

Yes Jim

The 132.648 area is nice with the zone up to 133.005.
I expect it to have another crack at this zone before it goes down, as I have already taken 2/3 off the table, it does not really matter.
The great value of this one is, I saw it clearly on the monthly and weekly TF while I was scanning pairs trying to keep focused on the main swing points and not distract myself with the inner working of it on the lower TF. I then closed all the other pairs that price is still a fair distance away from. This gave me about 6 pairs to concentrate on.

Great stuff Jim and it shows how strong these areas are and also, how they can tip us off on the lower tf with PA.

All due to your relentlessness efforts with my wandering brain.
I think you will also like NZD/JPY

Thanks again Jim
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  • #121,304
  • Edited 10:01pm Nov 30, 2012 8:06pm | Edited 10:01pm
Quoting Pinbar
Yes Jim

The 132.648 area is nice with the zone up to 133.005.
I expect it to have another crack at this zone before it goes down, as I have already taken 2/3 off the table, it does not really matter.
The great value of this one is, I saw it clearly on the monthly and weekly TF while I was scanning pairs trying to keep focused on the main swing points and not distract myself with the inner working of it on the lower TF. I then closed all the other pairs that price is still a fair distance away from. This gave me about 6 pairs to concentrate on....
Very nice Steve . . you may not get another crack at it . .it could just drop down to the ends of the earth . .

Although I would have liked for Price to have tasted the 133.00 . .we may still see that.


Multi TF HCR/LCS levels . .meaning when we have the same HCR/LCS level on Weekly and Daily . .or Monthly and Weekly HCR/LCS etc . .really shows the strength of the level . .You could just trade those levels and do very well.


A wandering and overly complicating brain can be a dangerous thing in trading . .trust me on that . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #121,305
  • Nov 30, 2012 8:16pm Nov 30, 2012 8:16pm
Quoting jarroo
Very nice Steve . . you may not get another crack at it . .it could just drop down to the ends of the earth . .

Although I would have liked for Price to have tasted the 133.00 . .we may still see that.


Multi TF HCR/LCS levels . .meaning when we have the same HCR/LCS level on Weekly and Daily . .or Monthly and Weekly HCR/LCS etc . .realy shows the strength of the level . .You could just trade those levels and do very well.


A wandering and overly complacating brain can be a dangerous thing in trading . .trust me on that . .lol ...
Are you talking from personal experience?

Seems terribly hard to even imagine.

EDIT: Yes, we still have these bumps in the road ahead and, opposing PBs.
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  • #121,306
  • Nov 30, 2012 8:18pm Nov 30, 2012 8:18pm
Quoting jarroo

A wandering and overly complacating brain can be a dangerous thing in trading . .trust me on that . .lol
the MOST dangerous thing I think I would make that statement read
  • #121,307
  • Nov 30, 2012 8:22pm Nov 30, 2012 8:22pm
Quoting mbqb11
the MOST dangerous thing I think I would make that statement read

The only thing that can possibly save us, is fear of the complications we create and, stopping trading till we get out head sorted out.

That is my experience.

Put the live account on a back burner and work it out.
  • #121,308
  • Nov 30, 2012 8:22pm Nov 30, 2012 8:22pm
Quoting Pinbar
Are you talking from personal experience?

Seems terribly hard to even imagine.
WE all go through the same things as traders . .me, you and even James16

Like Mike says, it a process that we all go through . .some people weather through it and some don't .

Some keep at it, figure out their style and what works for them . . . .while others just give up.
Indicators show the past. Price Action "Indicates" the future.
  • #121,309
  • Nov 30, 2012 8:42pm Nov 30, 2012 8:42pm
Quoting jarroo
WE all go through the same things as traders . .me, you and even James16

Like Mike says, it a process that we all go through . .some people weather through it and some don't .

Some keep at it, figure out their style and what works for them . . . .while others just give up.

Yeah, I was seriously concerned that I was in the latter group!
Kept at it though, and I am still keeping at it.
There are times when I felt like, I am never going to stop over complicating it.
Possibly there will be more times like this and this moment of a little clarity will fade.

Either way, we just have to keep at it while, staying safe.
  • #121,310
  • Nov 30, 2012 9:19pm Nov 30, 2012 9:19pm
Quoting Pinbar
Yeah, I was seriously concerned that I was in the latter group!
Kept at it though, and I am still keeping at it.
There are times when I felt like, I am never going to stop over complicating it.
Possibly there will be more times like this and this moment of a little clarity will fade.

Either way, we just have to keep at it while, staying safe.
Yeah I hear you . .the main thing is waiting for setup and not try to form or makeup one . .(been there done that).

. .and then once we see a potential setup we have to qualify it . .meaning is it trading into Space, does it have confluences that Support it.

A setup may look great but if it has zero confluences . .. it could be an easy pass.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #121,311
  • Nov 30, 2012 9:42pm Nov 30, 2012 9:42pm
Quoting Pinbar
Yeah, I was seriously concerned that I was in the latter group!
Kept at it though, and I am still keeping at it.
There are times when I felt like, I am never going to stop over complicating it.
Possibly there will be more times like this and this moment of a little clarity will fade.

Either way, we just have to keep at it while, staying safe.

This Triple Action LCS on the UsdCad at the .9920ish level with the trendline is a nice confluenced level.

A Daily Close below could setup a nice shorting opportunity ..
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Indicators show the past. Price Action "Indicates" the future.
  • #121,312
  • Edited 9:55pm Nov 30, 2012 9:43pm | Edited 9:55pm
Quoting jarroo
Cool exercise Steve . .


Yeah that's a Classic Mike ascending wedge pattern . .you can taste the divergence in that one . .

Jim
Yeah, it reminds of the times when we would do this with Ghous, SC and Hansolo at the weekends. Fond memories.

No more takers it seems so, here is the outcome.

Mike would probably not even have taken this trade as as a PA setup, it did not break on the next bar and price was going sideways.
GH had the best idea of trading the double top short. Plenty of time to go to BE by doing that and a pretty clear target area at the bottom of the consolidation.
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  • #121,313
  • Nov 30, 2012 9:51pm Nov 30, 2012 9:51pm
Quoting jarroo
This Triple Action LCS on the UsdCad at the .9920ish level with the trendline is a nice confluenced level.

A Daily Close below could setup a nice shorting opportunity ..
Yeah, the weekly looks good also.
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  • #121,314
  • Nov 30, 2012 9:57pm Nov 30, 2012 9:57pm
Quoting Pinbar
Yeah, it reminds of the times when we would do this with Ghous, SC and Hansolo at the weekends. Fond memories.

No more takers it seems so, here is the outcome.

Mike would probably not even have taken this trade as, it did not break on the next bar and price was going sideways.
Look like DGB got it right . .even the retrace . .

Quoting DaGrizlyBull
Attachment


Nice chart Steve. Price hit its target, a PPZ level . .take 100% full profit right there . .If Price closes below that PPZ . .we can always re-enter short . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,315
  • Nov 30, 2012 9:58pm Nov 30, 2012 9:58pm
Quoting Pinbar
Yeah, the weekly looks good also.

Yeah I wish that .9920 was also a Weekly LCS level too . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,316
  • Edited 11:47pm Nov 30, 2012 10:15pm | Edited 11:47pm
Quoting Sujith
This area?

Yeah Jim, he did.http://www.forexfactory.com/attachme...1&d=1354258521

Sujith did a good job of it also.

Edit: In fact everyone did good because it is not the answer being correct that is important, it is taking the time to think about it, that really matters! Like life. Haaaaaaa
  • #121,317
  • Dec 1, 2012 1:17am Dec 1, 2012 1:17am
Quoting mbqb11
Hey Sura

Keep digging this thread is filled with thousands of pages of great info

Best
Mike
thanks mike i will continue!
and well its "SURAJ"
  • #121,318
  • Dec 1, 2012 6:22am Dec 1, 2012 6:22am
Quoting surajkincity
thanks mike i will continue!
and well its "SURAJ"
Yeah, and his name is Michael, not Mike.

If you get what I mean.

What's a letter between friends?
  • #121,319
  • Dec 1, 2012 1:42pm Dec 1, 2012 1:42pm
Quoting Pinbar
Yeah, and his name is Michael, not Mike.

If you get what I mean.

What's a letter between friends?
haha truu!
  • #121,320
  • Dec 1, 2012 2:23pm Dec 1, 2012 2:23pm
Quoting ksganesh100
Another great point about this location is that this is a nice swing low.
Hi ksganesh100. If you don't mind me asking, how did you reach the conclusion that this would be a swing low? If anyone else wants to answer, please do. Thanks to everyone, love this thread!
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