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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

  • #121,341
  • Dec 3, 2012 2:11am Dec 3, 2012 2:11am
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 ..
Here comes the RT, broke the TL with sideways movement though.
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  • #121,342
  • Dec 3, 2012 2:14am Dec 3, 2012 2:14am
Quoting itsam

Yeah, there is some VERY Serious wisdom in that post.
One that many people have paid a high price for and, many that will continue to pay the high price.
If they don't the 5% of those that make it in this business, would not make it.
  • #121,343
  • Dec 3, 2012 2:42am Dec 3, 2012 2:42am
Quoting surajkincity
ok so a pa is valid only if it breaks the pa bar well thn how wwill i enter at retracement?
This TL is going to get tested.
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  • #121,344
  • Dec 3, 2012 3:54am Dec 3, 2012 3:54am
Hit that daily LCS almost to the pip Jim! Way to go.
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  • #121,345
  • Edited 4:22am Dec 3, 2012 3:56am | Edited 4:22am
The GBP/JPY is starting to move in the direction of the Daily PB.
A 100 pip move off of an M15 PB from a monthly level, is not a bad deal.
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  • #121,346
  • Dec 3, 2012 4:42am Dec 3, 2012 4:42am
Just closed it out as, The H1 PB that is forming may also lead to an H4 PB off this TL and the consolidation area.

No point giving so much back to the market.
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  • #121,347
  • Dec 3, 2012 5:08am Dec 3, 2012 5:08am
Quoting Pinbar
Just closed it out as, The H1 PB that is forming may also lead to an H4 PB off this TL and the consolidation area.

No point giving so much back to the market.
I'm sticking with this a bit longer since the daily is quite constructive. Locked in 30 pips since if price gets above those 2 supply levels it will likely revisit the highs.
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  • #121,348
  • Dec 3, 2012 5:11am Dec 3, 2012 5:11am
Also UJ should hopefully be able to get to the 38.2%
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  • #121,349
  • Dec 3, 2012 5:13am Dec 3, 2012 5:13am
Quoting C-12
I'm sticking with this a bit longer since the daily is quite constructive. Locked in 30 pips since if price gets above those 2 supply levels it will likely revisit the highs.
Yeah, it seems possible.
I have an aversion to mirrored pa on multiple TFS.

Like that forming h1 pb and the H4 one.
  • #121,350
  • Dec 3, 2012 5:19am Dec 3, 2012 5:19am
Quoting Pinbar
No, you add a 10-15 pip buffer to the bar on a daily chart and enter at that point but that puts you almost at the FTA.

Just forget that BEOB and find a bigger bar, with a better location.
Forgetting not so good setups is a major part of the puzzle, or rather not even noticing them in the first place is.

Even tried the Bhang lassi ( भांग) did you? LOL

Yeah, -17 C is a bit much in the day but -25 or 30C at night is even worse.
Good job we have 24 hour central heating.
lol bhang lassi is alcahol i cant take well aftr graduating i ll not get more thn $600 Monthly aftr wrking 10hrs i hope i can do sumthing im fund managing before that
  • #121,351
  • Dec 3, 2012 5:22am Dec 3, 2012 5:22am
Quoting Pinbar
Yeah, it seems possible.
I have an aversion to mirrored pa on multiple TFS.

Like that forming h1 pb and the H4 one.
Gotta give them a chance but no harm locking in the profits, stuck these all at BE so lets see where they go. I'm heavily long Yen pairs on my swing account.
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  • #121,352
  • Edited 7:00am Dec 3, 2012 6:50am | Edited 7:00am
Quoting C-12
Gotta give them a chance but no harm locking in the profits, stuck these all at BE so lets see where they go. I'm heavily long Yen pairs on my swing account.
I hear you.
Took most profit early and just let the last third run but, it looks like it is going to test 133 before it drops.
No point throwing profit away and a hundred pip run is a decent enough run to bank, even on the last third.

I am cautions shorting the JP pairs right now, election next month and the when the LDP gets back in again, and they will, the head honcho Abe is saying he is going to get the BOJ to print endless amounts of money. That is not good for strengthening the Yen.
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  • #121,353
  • Dec 3, 2012 7:09am Dec 3, 2012 7:09am
Quoting Pinbar
I am cautions shorting the JP pairs right now, election next month and the when the LDP gets back in again, and they will, the head honcho Abe is saying he is going to get the BOJ to print endless amounts of money. That is not good for strengthening the Yen.
I agree so trying to stay risk free by keeping stops tight and getting to BE fast. I've just added to GBPJPY, entry was kind of low risk (10 pip stop)
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  • #121,354
  • Dec 3, 2012 7:46am Dec 3, 2012 7:46am
Quoting C-12
I agree so trying to stay risk free by keeping stops tight and getting to BE fast. I've just added to GBPJPY, entry was kind of low risk (10 pip stop)

Sorry, you have lost me there C12.
I have no idea why you would sell at the break of this consolidation area & in the face of that large H4 BUEOB in the making.
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  • #121,355
  • Dec 3, 2012 9:03am Dec 3, 2012 9:03am
Quoting Pinbar
Sorry, you have lost me there C12.
I have no idea why you would sell at the break of this consolidation area & in the face of that large H4 BUEOB in the making.
PB

I'll dig out the chart later since I'm at work. It was an untested supply level, not totally sure it will hold.

I still think the short off the daily is still in control so was looking for pullbacks to add, although that H4 BUOB looks pretty menacing. Guess we'll see if that was an good idea or not.
  • #121,356
  • Dec 3, 2012 10:56am Dec 3, 2012 10:56am
gold looks bearish possible break down here soon. first target 1678
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all is eternal - this is good news for people who loves bad news
  • #121,357
  • Dec 3, 2012 11:15am Dec 3, 2012 11:15am
Hello

Here we have a pending buy order that has been activated by Price Action today on GBPCHF,
more details about the entry printed straight on the chart.

http://mytradesontheblog.files.wordp...ily.gif?w=1176
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  • #121,358
  • Dec 3, 2012 11:17am Dec 3, 2012 11:17am
Quoting swissforex
Hello

Here we have a pending buy order that has been activated by Price Action today on GBPCHF,
more details about the entry printed straight on the chart.
I reckon this looks good.
  • #121,359
  • Dec 3, 2012 11:53am Dec 3, 2012 11:53am
Hey guys,

On the CAC some nice PA on the Daily which lines up with Weekly long term S/R....
Got a sell order in just below the pin @ 3555.

Anybody have reasons NOT to take this trade I'd love to hear from ya....Looks good to me but just want second opinion

cheers
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  • #121,360
  • Dec 3, 2012 12:21pm Dec 3, 2012 12:21pm
Quoting cupoftea2222
Hey guys,

On the CAC some nice PA on the Daily which lines up with Weekly long term S/R....
Got a sell order in just below the pin @ 3555.

Anybody have reasons NOT to take this trade I'd love to hear from ya....Looks good to me but just want second opinion

cheers
I like it
keep an eye at the first trouble area at 3520
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