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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

  • #121,801
  • Dec 16, 2012 7:31am Dec 16, 2012 7:31am
Greetings to all! It's my first post.

Hey Mike, what you think of this breakout?
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Sorry for my bad English
  • #121,802
  • Edited 8:09am Dec 16, 2012 7:48am | Edited 8:09am
Hey guys. Whats the more likely direction in your opinion?

On one hand , we had a daily close above some HCRs in that big resistance zone.
On the other hand, this could be a false breakout + end of year...

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I don't need easy. I just need possible.
  • #121,803
  • Dec 16, 2012 11:05am Dec 16, 2012 11:05am
Quoting DaGrizlyBull
Hey guys. Whats the more likely direction in your opinion?

On one hand , we had a daily close above some HCRs in that big resistance zone.
On the other hand, this could be a false breakout + end of year...

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interested in too
Don't give up
  • #121,804
  • Dec 16, 2012 11:06am Dec 16, 2012 11:06am
Quoting Pinbar
Sorry, but I made no mention of any trades nor was I suggesting anyone make any.

This is just a level, we are talking about.
hi pinbar

i thought...

i see in EUR/JPY some level of interest

110.05ish
110.90ish

and i see early next week supp level around 109.20ish , i will be selling only ny closes below 109.20ish

EUR/USD

upside i see level of interest as 3180ish, 3275ish
downside i see level 3151/52, 3110ish and 3080ish
i will be a seller if ny closes below 3152ish, i will add to long around 3110ish


in both charts grey and black lines are weekly/monthly tf and red and pink lines are daily/weekly tf


good luck!
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Wolves don't lose any sleep over the opinion of the sheep.
  • #121,805
  • Dec 16, 2012 11:40am Dec 16, 2012 11:40am
Quoting Rust
Hey Mike,
having we are pretty close to the end of the year, what's your opinion? Pull the trigger or pass ?


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absolutely dude just posted about this one in the PF

I am already in from the 8hr beob and multi bar low break. The daily now shows continuation

hope everyone had a great weekend
Mike
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  • #121,806
  • Dec 16, 2012 11:52am Dec 16, 2012 11:52am
Quoting Sergeant88
Greetings to all! It's my first post.

Hey Mike, what you think of this breakout?
Hey Sergeant

I was watching this on the 4hr as the pattern is more substantial in size in comparison to the bars we need for a trigger. So I wouldn't be wanting to play that from a daily perspective as the bar is nearly the size of the pattern itself.

So I am actually watching pullbacks to the 1.0400 but your pattern is good!

And welcome! Glad you are posting
Mike
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  • #121,807
  • Dec 16, 2012 2:20pm Dec 16, 2012 2:20pm
jpy pairs gap +100 (+130) pips...
  • #121,808
  • Dec 16, 2012 3:00pm Dec 16, 2012 3:00pm
waiting for pullback to the 160 usd.
crm on weekly.
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meine augen sind die sterne
  • #121,809
  • Dec 16, 2012 3:27pm Dec 16, 2012 3:27pm
gis on weekly.
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meine augen sind die sterne
  • #121,810
  • Dec 16, 2012 3:52pm Dec 16, 2012 3:52pm
Quoting DaGrizlyBull
Hey guys. Whats the more likely direction in your opinion?

On one hand , we had a daily close above some HCRs in that big resistance zone.
On the other hand, this could be a false breakout + end of year...

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I like the close above the HCR's you mention. If Friday's high is broken there are couple of resistance zones pretty close by. That said, I have a pending long order at 1.3138.....
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  • #121,811
  • Dec 16, 2012 4:35pm Dec 16, 2012 4:35pm
some large gaps on then yen pairs. I like selling into a gap move like this. Such a major area, is the market really gonna post through this major swing high going back to multip tops in 2011? Or likely fill the gap. I like the idea we should fill the gap first
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  • #121,812
  • Edited 6:41pm Dec 16, 2012 5:46pm | Edited 6:41pm
Quoting mbqb11
some large gaps on then yen pairs. I like selling into a gap move like this. Such a major area, is the market really gonna post through this major swing high going back to multip tops in 2011? Or likely fill the gap. I like the idea we should fill the gap first

Hey Mike

Exactly what I was just thinking after opening the charts for the week.
Although, I was thinking CJ may test the 85.88 ish area, before it fills the gap.
Any thoughts on this?

Different pair, same gap.

Edit: I prefer the CJ as, it has weekly divergence.

I see your reasoning for the EJ gap fill.
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  • #121,813
  • Dec 16, 2012 6:58pm Dec 16, 2012 6:58pm
Quoting Pinbar
Hey Mike

Exactly what I was just thinking after opening the charts for the week.
Although, I was thinking CJ may test the 85.88 ish area, before it fills the gap.
Any thoughts on this?

Different pair, same gap.

Edit: I prefer the CJ as, it has weekly divergence.

I see your reasoning for the EJ gap fill.
Hey Steve

Like you said it's all very similar since they are xxx/jpy p airs. The eur/jpy just gives us a much clearer idea of where it's max should go for stop loss placement and what not. With cad/jpy for me that's the swing around 85 that the pinbar created. So above this area it's pretty wide open but they should all run pretty closely e/j just makes it easiest for me to game plan around

Hope all is well
Mike
  • #121,814
  • Dec 16, 2012 7:01pm Dec 16, 2012 7:01pm
I like this 5.6572 area confluence with the consolidation box.
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  • #121,815
  • Edited 7:49pm Dec 16, 2012 7:13pm | Edited 7:49pm
Quoting mbqb11
Hey Steve

Like you said it's all very similar since they are xxx/jpy p airs. The eur/jpy just gives us a much clearer idea of where it's max should go for stop loss placement and what not. With cad/jpy for me that's the swing around 85 that the pinbar created. So above this area it's pretty wide open but they should all run pretty closely e/j just makes it easiest for me to game plan around

Hope all is well
Mike
Yes, I thought it may be a management thing.
Thanks Mike

Yeah, the LDP got back in with a resounding victory in Japan, they plan on weakening the Yen further so, I think the market is trying to disseminate the results right now. So, where are the Japanese going to place their money to ensure it does not depreciate further? Gold or USD?
  • #121,816
  • Dec 16, 2012 8:07pm Dec 16, 2012 8:07pm
Bet Mike is watching this IB sat right on the 110.538
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  • #121,817
  • Dec 16, 2012 11:50pm Dec 16, 2012 11:50pm
hi mike

i would like to know how you would look at playing this situation, no pa has formed but, we are now well above resistance and above a BRN.

are more inclined to look for price to break through back below the BRN? i know it could retrace and go up but what im concerned about in that situation is buying at a high since 2009. price did break the 85.00 level before but came back down fairly quickly.

what fundamental issues if any would you bring into the decision granted that oil plays a big issue in this pair. ie Canada exports 100% excess of its supply and and Japan buys in 100% of its needs.


thanks in advance


Hilton
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Thank you J16 & Trader Dante
  • #121,818
  • Dec 17, 2012 4:15am Dec 17, 2012 4:15am
Quoting Donkey
I like the close above the HCR's you mention. If Friday's high is broken there are couple of resistance zones pretty close by. That said, I have a pending long order at 1.3138.....

hi D

i am looking two levels for consideration

3131ish and 3120ish for any continuation upwards!

3131 on lower tfs and 3120 on daily

what's your view senior?
Wolves don't lose any sleep over the opinion of the sheep.
  • #121,819
  • Dec 17, 2012 4:33am Dec 17, 2012 4:33am
Quoting FX Wolf
hi D

i am looking two levels for consideration

3131ish and 3120ish for any continuation upwards!

3131 on lower tfs and 3120 on daily

what's your view senior?
Hi, pretty wolf.
I will go shot @1.3333.
simply feeling.
bye.
  • #121,820
  • Dec 17, 2012 8:14am Dec 17, 2012 8:14am
Quoting mbqb11
some large gaps on then yen pairs. I like selling into a gap move like this. Such a major area, is the market really gonna post through this major swing high going back to multip tops in 2011? Or likely fill the gap. I like the idea we should fill the gap first
Pretty simple gap play for a nice gain , good tool to have

Mike
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