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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

  • #121,601
  • Dec 9, 2012 10:22am Dec 9, 2012 10:22am
Quoting mbqb11
yep at some point everyone's posts were basically cut in half. THe posts were not lost just not counted in the post numbers now. No idea why

Mike
Back when the PF moved, the posts from there were no longer counted here I believe. Hope you recovered from your birthday.
  • #121,602
  • Dec 9, 2012 10:24am Dec 9, 2012 10:24am
Quoting Sujith
Hi Mike,

I would like to know your thoughts on PA bars formed late on Fridays on the 4 hour charts. Would you consider taking a trade the next week or would you just ignore it as profit taking at the end of the week?
Hey Sujith

Generally I am a bit weary of late friday intraday bars. BUT if the location is fantastic and the bar formation if fantastic I have (although more rare) put on trades early sunday based on a 4hr chart. Generally speaking I tend to not though and wait to see how intraday shapes up into the new week

Hope that helps
Mike
  • #121,603
  • Dec 9, 2012 10:35am Dec 9, 2012 10:35am
Quoting MUNkeyRO
~Hi Mike, thanks for the chart. I always look forward to your chart posts...

When I draw TL's I use the 'top points', I notice yours seem fitted to encompass more touches (like your latest chart post). Do you have any tips/advice on this?

What do you think of this AUDUSD Daily Wedge?

Cheers, Munk.

Attachment
Hey Munk

Generally the best advice I can give with any tool is using the obvious. Now I know at the end of the day we will all have our own ways of doing things slightly but the more obvious something is the better. The more I find a chart can only be drawn one way the more confidence I have in those lines/patterns etc

As for aud/usd since you are zooming your daily out I prefer to just check the weekly. For me the descending TL on the weekly is the better TL to watch in confluence with the 1.05 BRN Now for the daily I think it makes more sense to look at the box(which does intersect with the longer term weekly TL. And the daily rising TL is something to watch on its own(but I wouldn't draw it from a weekly standpoint). Certainly the very choppy action is interesting as we have slowly moved higher but no big breakouts so we could see one coming very soon. I am watching this pair for more info

Hope this helps
Mike
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  • #121,604
  • Dec 9, 2012 10:42am Dec 9, 2012 10:42am
Quoting hunzul
Hi Mike

You said: 'Price gapped here so TL makes sense from the previous high before the gap'

Why does it make sense?

Thanks for your help.

Here is the reference: http://www.forexfactory.com/attachme...3&d=1354900855
Hey Hunz

What I wanted to point out is that even though price looks like it moves through the TL, the fact that price gapped there(area of interest, liquidity) makes it ok for me to have that TL start at that point where we can then see price reacting nicely afterwards. This to me is just a way to confirm that my TL is ok and because of that gap being there I understand better why. If there was no gap I would be more weary of the TL I drew

Hope that helps
Mike
  • #121,605
  • Dec 9, 2012 1:45pm Dec 9, 2012 1:45pm
Quoting mbqb11
yep at some point everyone's posts were basically cut in half. THe posts were not lost just not counted in the post numbers now. No idea why

Mike
Interesting... Thanks for answering.

Mike, you are on this thread from the beginning without any break. It is just amazing the time you spent here to help and answer to new people. What you´re doing is just great.
  • #121,606
  • Dec 9, 2012 3:38pm Dec 9, 2012 3:38pm
Quoting diggsnoob
Back when the PF moved, the posts from there were no longer counted here I believe. Hope you recovered from your birthday.
lol thanks buddy I am

I think that was a separate thing as well. Their was another site wide FF thing where everyone lost like half as well. But I am older now so maybe my memory is not as sharp
  • #121,607
  • Dec 9, 2012 3:45pm Dec 9, 2012 3:45pm
Quoting mbqb11
lol thanks buddy I am

I think that was a separate thing as well. Their was another site wide FF thing where everyone lost like half as well. But I am older now so maybe my memory is not as sharp
Happy Birthday Mike belated !!!!
  • #121,608
  • Dec 9, 2012 3:56pm Dec 9, 2012 3:56pm
USD/CHF
how about this PinBar with a good nose and the confluence area of 23% long term fib and short term 50% fib!
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  • #121,609
  • Dec 9, 2012 4:11pm Dec 9, 2012 4:11pm
Quoting Yehuda Sh
Mike
Hello

What is your opinion
Gold
A .PPZ
BRN
BUOB DAILY
PB 4 HR

We would be glad to receive your feedback

Sorry for my bad English
Hey Yehuda

I don't love this one for the lack of follow through but we could see the following situation that makes sense but it would be more important the mgmt aspect of it

Best
Mike
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  • #121,610
  • Dec 9, 2012 4:27pm Dec 9, 2012 4:27pm
Quoting mbqb11
Hey Sujith

Generally I am a bit weary of late friday intraday bars. BUT if the location is fantastic and the bar formation if fantastic I have (although more rare) put on trades early sunday based on a 4hr chart. Generally speaking I tend to not though and wait to see how intraday shapes up into the new week

Hope that helps
Mike
Thanks Mike
  • #121,611
  • Dec 9, 2012 6:08pm Dec 9, 2012 6:08pm
Quoting surajkincity
USD/CHF
how about this PinBar with a good nose and the confluence area of 23% long term fib and short term 50% fib!
any body?
  • #121,612
  • Dec 9, 2012 7:50pm Dec 9, 2012 7:50pm
Quoting surajkincity
any body?
Hey Suraj,

I would argue over the size of that bar. Notice how a longer nose would have given it a better look. Notice also that a longer nose would have gone on to hit the more important confluence area marked by the 150 ema + PPZ + 9400 RN + trend line. You can see how price sort of missed that more important interest area,

Additionally try and locate your bearish pin bars higher up into the pull back or preferably at swing highs. This one is tucked up pretty close to the prior swing low which kills it for space a bit...

Hope this helps.

g.
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I believe . . .
  • #121,613
  • Dec 9, 2012 10:12pm Dec 9, 2012 10:12pm
Monthly, Weekly & Daily zone, coming into play.
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  • #121,614
  • Dec 9, 2012 11:34pm Dec 9, 2012 11:34pm
Quoting surajkincity
USD/CHF
how about this PinBar with a good nose and the confluence area of 23% long term fib and short term 50% fib!

I can really sympathize with your situation, everyone does this at first.
You need a mental image of a good sized bar at a good location.
Here you go.
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  • #121,615
  • Dec 9, 2012 11:47pm Dec 9, 2012 11:47pm
Quoting ghous
Hey Suraj,

I would argue over the size of that bar. Notice how a longer nose would have given it a better look. Notice also that a longer nose would have gone on to hit the more important confluence area marked by the 150 ema + PPZ + 9400 RN + trend line. You can see how price sort of missed that more important interest area,

Additionally try and locate your bearish pin bars higher up into the pull back or preferably at swing highs. This one is tucked up pretty close to the prior swing low which kills it for space a bit...

Hope this helps.

g....
hey although 150EMA woz not hit but 200 and 50 are hit!
well i thot nose size would not be a problem here?
wel i entered at a very low lot size!
well i truily believe in that swing high swing low case!
thanks for reply!
  • #121,616
  • Dec 9, 2012 11:56pm Dec 9, 2012 11:56pm
Which is going to be stronger, the BEOB with no space or the weekly consolidation area TL, the 150 EMA with the 61.8 fibo?

I'd say the level around 1.2850 ish
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  • #121,617
  • Edited 12:13am Dec 10, 2012 12:01am | Edited 12:13am
Quoting surajkincity
hey although 150EMA woz not hit but 200 and 50 are hit!
well i thot nose size would not be a problem here?
wel i entered at a very low lot size!
well i truily believe in that swing high swing low case!
thanks for reply!
I'd take all that rubbish off the charts and just watch price for a while.
You may actually be able to find a good PB if you do.

Also, if I hear correctly, you entered short based on that poor PB that did not even get triggered?

All those emas and indicators on the chart is exactly the opposite of what this thread is about, your stochastic is giving a buy signal and there is no trigger but, you sold?

As they say, "you can lead a horse to water but can not make it drink".

You are well on the way to, the path to the slippery slope to, indicator hell.
Why not, we have all done it. We just wish we hadn't. LOL
  • #121,618
  • Dec 10, 2012 1:00am Dec 10, 2012 1:00am
Quoting surajkincity
USD/CHF
how about this PinBar with a good nose and the confluence area of 23% long term fib and short term 50% fib!
Hello Sailor nice. your charts are polite
  • #121,619
  • Dec 10, 2012 1:40am Dec 10, 2012 1:40am
Quoting Pinbar
I can really sympathize with your situation, everyone does this at first.
You need a mental image of a good sized bar at a good location.
Here you go.
thankx i gone through some previous pinbars and checkd this thing and its really help ful!
  • #121,620
  • Dec 10, 2012 1:43am Dec 10, 2012 1:43am
Quoting Pinbar
I'd take all that rubbish off the charts and just watch price for a while.
You may actually be able to find a good PB if you do.

Also, if I hear correctly, you entered short based on that poor PB that did not even get triggered?

All those emas and indicators on the chart is exactly the opposite of what this thread is about, your stochastic is giving a buy signal and there is no trigger but, you sold?

As they say, "you can lead a horse to water but can not make it drink".

You are well on the way to, the path to the slippery slope to,...
hey actually i was trying to spot divergence for some signal confirmation usinf MACD and stochastic! I thing i should remove stoch? right?
and shoulndt i use EMA? I heard it is good to see the confluence area!
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