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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

  • #123,781
  • Mar 13, 2013 6:25pm Mar 13, 2013 6:25pm
Not too keen on the close of the Daily NZD/USD bar.

Makes the target too close.
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  • #123,782
  • Edited 7:43pm Mar 13, 2013 7:31pm | Edited 7:43pm
Quoting long2339
HI Pinbar

What do you thing about this one? If close above....

Yes long2339 . .that's correct.

Don't know if you saw this post . . .

Quoting jarroo
I like the EurCad too , Meshka . .

Triple Action level . . three LCS levels lining up. .nice.

To bad that BEOB didn't Close (below) stronger . .still a great level to watch this week ..

Jim

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #123,783
  • Mar 13, 2013 7:39pm Mar 13, 2013 7:39pm
Quoting Pinbar
Not too keen on the close of the Daily NZD/USD bar.

Makes the target too close.
That's not a bad buffer to enter the setup, Steve . .on your chart

Also, these levels in blue have not been tested since PBT&CB them . .they have the potential of being hit. ..but I do like the .8193-.8200 level for this setup.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #123,784
  • Mar 13, 2013 7:49pm Mar 13, 2013 7:49pm
Hey Mike,
I`m looking at this one:
GBPNZD H4.Can I have your opinion ,please?Thank you very much!
http://img515.imageshack.us/img515/1286/1gbpnzdh4.gif
  • #123,785
  • Mar 13, 2013 7:51pm Mar 13, 2013 7:51pm
Quoting meshka
no I am just moved my stop loss closer to my entry... waiting for something to happen tommorow with chf .... I bought USDCHF and EURCHF... and short in kiwi. closed all my other EUR positions ...

Nice meshka . .understandable. .
Indicators show the past. Price Action "Indicates" the future.
  • #123,786
  • Mar 13, 2013 8:02pm Mar 13, 2013 8:02pm
Quoting long2339
Hi

What do you think about this ..?

Quoting jarroo
I like it, long2339 . . . . .Nice Space too. Great level at the LCS level . .if it retraces. With all that Space it may not retrace. An entry on the Close is a valid entry option. . .I prefer a retrace but we can watch it . .



Jim
There's that Space doing its thing again ..

Entry on the Close working out very well ..also there was a small retrace to a Daily bar Low . .not a bad early enter with a setup with this much Space.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #123,787
  • Mar 13, 2013 8:44pm Mar 13, 2013 8:44pm
First Daily Target hit.
Moved to BE and will see if this first daily target acts as resistance for a Bham.
Could be too tight but, we shall see.
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  • #123,788
  • Mar 13, 2013 9:02pm Mar 13, 2013 9:02pm
Stopped out at BE after 1st target hit.

We may get more convincing PA on the retest.
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  • #123,789
  • Mar 13, 2013 10:02pm Mar 13, 2013 10:02pm
Quoting mbqb11
Hey Kenny

Trading a beob and DBLHC at swing highs is how James introduces this material in the thread. You wan to start by looking for them at clear swing points. I just posted an example bar above this post

As for you chart you are correct that is the traffic or FTA

I would be more likely to watch the BRN of 1.25 and the descending TL(it's a more accurate more used TL). for longs I want to see price get above this TL

Best
Mike
Hi Mike,

Opps, sorry for my mistake. I was posting late at night yesterday.

Is there any different criteria that you look at when you trade BUOB at swing high (as a continuance bar) ?

Thank you
  • #123,790
  • Mar 13, 2013 11:30pm Mar 13, 2013 11:30pm
Quoting jarroo
I would keep it simple Kay Kay ..just these two maybe three levels on the Daily . .

Jim
Hello Sir,
I have three confusions, please help me to resolve it.

1) Please see The picture A, the price break through it but very weak, Should we consider this break as valid or it is just fake-out and stop hunting.
2) Picture A shows a sell setup but If I draw second level as in second picture, then it would be buy setup. How we can decide which level is good or which direction is more favourable?
3) Should I use MA or trend line to judge the main trend? And suppose if I see some trend based on MA or lower lows and lower highs etc, that trend is down but market is on weekly support, should I buy against the trend? and If I buy then what should be the difference of my thinking, execution and managaing when I trade in the trend and against the trend?

Not sure I asked correctly or made more confusions...

Thank you very much, you are very kind and helpful no doubt... you are nice and great person, I wish you best luck in every aspect of your life..
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  • #123,791
  • Mar 13, 2013 11:57pm Mar 13, 2013 11:57pm
EU - Last week was a doji in a downtrend.It has got more significance since it formed at BRN 3000.

Below charts goes to show how weekly fib work to perfection and indicates the movement ahead. I treat monthy and weekly fibs as holygrail combined with price action and price pivot zones!

Here I go and draw the fib on weekly chart and keep watching the price action at each levels. It is understood that in a crawling trend like the present one, the price retraces deeper - most of the time to 61% if not 50%.

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I scale down to 4 hour to see the reaction to these levels. Point marked as A is a reaction and B is a retest.My ideal set up.

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I missed this one and and shorted at 2970 only to end up being stopped out at breakeven. After all here is what Jim has to say about breakeven trades " All breakeven trades goes in to winners column".

Thank you Jim 1 and Jim2
Regards Inditrader
  • #123,792
  • Mar 14, 2013 12:27am Mar 14, 2013 12:27am
Hello, good people!

Can you advise me?
Today I went a long USDCHF
Since I'm still new, surely something was wrong, but I would be delighted if you look at my chart and tell me.
Reasons for my trade:

 

  1. Price break and close above 0.9484
  2. Daily confirmation above this resistance
  3. BUOVB
  4. Trend is up
  5. There is room for upwards
  6. There is Round number - 0.9500.


I set my stoploss under the 50% Fibo of BUOVB (that's good?)
Here's the chart, i probably wrote little incomprehensible this my post (my english is bad as my trade) because I went a little early May?

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Your best teacher is your last mistake ...
  • #123,793
  • Mar 14, 2013 12:29am Mar 14, 2013 12:29am
Quoting fxkaka
Hello Sir,
I have three confusions, please help me to resolve it.

1) Please see The picture A, the price break through it but very weak, Should we consider this break as valid or it is just fake-out and stop hunting.
2) Picture A shows a sell setup but If I draw second level as in second picture, then it would be buy setup. How we can decide which level is good or which direction is more favourable?
3) Should I use MA or trend line to judge the main trend? And suppose if I see some trend based on MA or lower lows and lower highs etc, that...
Hey Kay Kay ..

Yes, that was a weak PBT&CB but its technically correct.

Let be start with your #3. first. There is a nice consolidation here (a bit small) and we really don't care if this consolidation is with a trend or not. Just that it exists. This Break Out of this consolidation is with the current down trend with is good but its really not mandatory. (Chart 1)

Part of the make up of this consolidation is a Swing Low and its Lowest Close of Support level. (Chart 2)

In Chart 3, you are showing just a Daily Low and a Daily Close. I view a Swing Point as a strong location in the market. . . and to add to that, I look at the Close of that Swing Point as an even stronger location of the market. Its a level in the market where Price just could not Close below . . .a strong area of Support.

I see the Swing Low and its Lowest Close of Support level much strong than a Daily Low and a Daily Close. So when PBT&CB the Support level (LCS) its got a good chance of flipping to Resistance at that previous Support level. (Chart 4)

Does this help Kay Kay?

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #123,794
  • Edited 12:58am Mar 14, 2013 12:48am | Edited 12:58am
Quoting Pinbar
Stopped out at BE after 1st target hit.

We may get more convincing PA on the retest.
Good eye on the first target, Steve. That's playing it pretty tight. ..which is not a bad thing too . .not at all.

You could have greatly reduced your risk by moving you S/L to just above the Lower TF Signature above the .8200 RN, once that 1st target was hit. . .avoiding a full position loss. . .but that's another way of doing it. ..James16 plays tight like this too.
Indicators show the past. Price Action "Indicates" the future.
  • #123,795
  • Mar 14, 2013 12:51am Mar 14, 2013 12:51am
ibm is looking for a breakout.
daily and weekly charts.
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meine augen sind die sterne
  • #123,796
  • Mar 14, 2013 12:55am Mar 14, 2013 12:55am
Quoting aserbfx
ibm is looking for a breakout.
daily and weekly charts.

Hey abserbfx . .Gold is still having a hard time closing below these levels . .a few Lows of the Week there . .
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Indicators show the past. Price Action "Indicates" the future.
  • #123,797
  • Mar 14, 2013 1:01am Mar 14, 2013 1:01am
Quoting inditrader
EU - Last week was a doji in a downtrend.It has got more significance since it formed at BRN 3000.

Below charts goes to show how weekly fib work to perfection and indicates the movement ahead. I treat monthy and weekly fibs as holygrail combined with price action and price pivot zones!

Here I go and draw the fib on weekly chart and keep watching the price action at each levels. It is understood that in a crawling trend like the present one, the price retraces deeper - most of the time to 61% if not 50%.

Attachment

I...
Confluences at PPZ levels Rule, inditrader . . .
Indicators show the past. Price Action "Indicates" the future.
  • #123,798
  • Mar 14, 2013 1:02am Mar 14, 2013 1:02am
Quoting jarroo
Good eye on the first target, Steve. That's playing it pretty tight. ..which is not a bad thing too . .not at all.

You could have greatly reduced your risk by moving you S/L to just above the Lower TF Signature above the .8200 RN, once that 1st target was hit. . .avoiding a full position loss. . .but that's another way of doing it. ..James16 plays tight like this too.
Jim

I didn't take a loss, I took two thirds profit just below the first target, then moved to BE, because as you say, it was tight.

I also hear you on the tightness of this one, we really want a deeper close below or above a level, I am thinking.

Good idea you provided though.

Thanks Jim
  • #123,799
  • Mar 14, 2013 1:06am Mar 14, 2013 1:06am
Quoting Pinbar
Jim

I didn't take a loss, I took two thirds profit just below the first target, then moved to BE.

Good idea you provided though.

Thanks Jim
That's just how I roll . .

Let me tell you Steve . .just the fact that you . . .

#1. Saw the 1st target.

#2. Reacted to the 1st target once it was Hit . . . puts you miles ahead of the game, my friend . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #123,800
  • Mar 14, 2013 1:15am Mar 14, 2013 1:15am
Quoting b3g1nn3er
Hello, good people!

Can you advise me?
Today I went a long USDCHF
Since I'm still new, surely something was wrong, but I would be delighted if you look at my chart and tell me.
Reasons for my trade:

 

  1. Price break and close above 0.9484
  2. Daily confirmation above this resistance
  3. BUOVB
  4. Trend is up
  5. There is room for upwards
  6. There is Round number - 0.9500.


I set my stoploss under the 50% Fibo of BUOVB (that's good?)
Here's the chart, i probably wrote little incomprehensible this my post (my...

Hey b3g1nn3er . .everything you have done here is perfect . . . . . except one very important thing . .the location of the BUOB.

The BUOB is at a Swing High not where we like to trade them. If this BUOB was a Swing Low you could have caught the start of an uptrend . .

Everything looks great but its Location of the BUOB.

Jim
Indicators show the past. Price Action "Indicates" the future.
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