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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

  • #125,081
  • Apr 30, 2013 4:32pm Apr 30, 2013 4:32pm
nice trendline to watch
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  • #125,082
  • Apr 30, 2013 4:33pm Apr 30, 2013 4:33pm
Hi All,

I am sorry if this has already been asked in past few days. I have this trade in demo, its still away from my stop Loss. I wanted to confirm if there is something wrong with the trade or its just markets turned the other way. The below is EUR/USD Daily Chart. I took it on the break of BEEB marked in the chart.



Thanks
JJ
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  • #125,083
  • Apr 30, 2013 5:04pm Apr 30, 2013 5:04pm
Quoting JumanJi
Hi All, I am sorry if this has already been asked in past few days. I have this trade in demo, its still away from my stop Loss. I wanted to confirm if there is something wrong with the trade or its just markets turned the other way. The below is EUR/USD Daily Chart. I took it on the break of BEEB marked in the chart. Thanks JJ {image}
Hey J

Be careful here this is technically not a beob. Notice price doesn't have a higher high than the previous bar. This can be the first sign that not much is going on. But if we look price closed above the BRN which is sitting just below us. I wouldn't want to trade back into that BRN. If you see it took price 4 days to even break the low(remember a bar if it was one is not valid until that low breaks). This is a sign price is more consolidating(see red box), then wanting to make a move. Now it's not necessarily wrong to trade a break but we can see how lack luster it was and then price closes back above 1.3000. If I had to take that as a break of the BRN(which is trading back into a PPZ I would close out QUICK.

Overall this is a pretty accurate reflection of a lot of FX pairs just not really doing a whole lot

Hope that helps
Mike
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  • #125,084
  • Apr 30, 2013 5:07pm Apr 30, 2013 5:07pm
Quoting JumanJi
Hi All, I am sorry if this has already been asked in past few days. I have this trade in demo, its still away from my stop Loss. I wanted to confirm if there is something wrong with the trade or its just markets turned the other way. The below is EUR/USD Daily Chart. I took it on the break of BEEB marked in the chart. Thanks JJ {image}

Here you go.

Hope this helps

Mike beat me to it, and yes, I did not notice the high is not within the allowed range.
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  • #125,085
  • Apr 30, 2013 5:14pm Apr 30, 2013 5:14pm
Thanks Mike and Pinbar for Reply...
  • #125,086
  • Apr 30, 2013 5:23pm Apr 30, 2013 5:23pm
Quoting mbqb11
nice trendline to watch {image}
Thanks mike seen this one edging sideways back into that trendline. just now going through all the pairs for today. don't get home till 7, sucks.
  • #125,087
  • Apr 30, 2013 5:45pm Apr 30, 2013 5:45pm
I like the look of the 1.32006 area.
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  • #125,088
  • Apr 30, 2013 6:00pm Apr 30, 2013 6:00pm
Quoting Pinbar
I like the look of the 1.32006 area. {image} {image}
Hey steve, wondering what your thoughts are? pbt+ca hcr daily chart? or maybe H+S forming?
  • #125,089
  • Apr 30, 2013 7:29pm Apr 30, 2013 7:29pm
Quoting 4xjoema
{quote} Hey steve, wondering what your thoughts are? pbt+ca hcr daily chart? or maybe H+S forming?
With that Monthly BUEOB, that is possible also.
I am watching the HCR on the Daily TF, we can see that price already closed below it on the daily, which could be a short bias.
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  • #125,090
  • Apr 30, 2013 11:35pm Apr 30, 2013 11:35pm
EURAUD - Any comments?
I just noticed that support Tl. Seems interesting!
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It's all psychology...
  • #125,091
  • Apr 30, 2013 11:56pm Apr 30, 2013 11:56pm
Quoting LamerTrader
EURAUD - Any comments? I just noticed that support Tl. Seems interesting! {image}
Hey Stephen,

Its your support TL vs the big major RN PPZ.

g.
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I believe . . .
  • #125,092
  • May 1, 2013 12:24am May 1, 2013 12:24am
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Hero calls followed by margin calls...
  • #125,093
  • May 1, 2013 1:22am May 1, 2013 1:22am
I dont like to post a trade after the fact, but that one develops interesting. Maybe someone is also in it. AUD/CAD.
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If not up, then down, otherwise sideways :-)
  • #125,094
  • May 1, 2013 2:04am May 1, 2013 2:04am
Quoting mbqb11
{quote} Hey J Be careful here this is technically not a beob. Notice price doesn't have a higher high than the previous bar. This can be the first sign that not much is going on.
I didn't trade this because of the BRN but while it's not a beob the bar is a big pin bar on a 2 day chart.
  • #125,095
  • May 1, 2013 3:57am May 1, 2013 3:57am
Quoting Pinbar
{quote} With that Monthly BUEOB, that is possible also. I am watching the HCR on the Daily TF, we can see that price already closed below it on the daily, which could be a short bias. {image} {image}
Thank you Steve for sharing your knowledge greatly appreciated!!
  • #125,096
  • May 1, 2013 4:40am May 1, 2013 4:40am
I have a question for the experienced traders from this thread. Do you provide signals on zulutrade or offer trading services like trading for other people?
  • #125,097
  • May 1, 2013 7:05am May 1, 2013 7:05am
Quoting str8
{quote} I didn't trade this because of the BRN but while it's not a beob the bar is a big pin bar on a 2 day chart.
Hey str8

Actually technically it would be a beob since it has a lower low than the previous bars

Some more info on this one for those that got caught and how we can stay out

Now if we aggregate it we can even further see how price has NO space as I always talk about So we now would have the 1.3 + no space to run. Price runs into the traffic area and boom turns around

We always want to think what's the confluence here? If we look it's just a beob in traffic. That's one of the first danger signs for me personally

Here is an aggregated chart that hopefully helps some of you here see how price is still price and that's why it's amazing

Best
Mike
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  • #125,098
  • May 1, 2013 8:30am May 1, 2013 8:30am
Quoting Pinbar
{quote} With that Monthly BUEOB, that is possible also. I am watching the HCR on the Daily TF, we can see that price already closed below it on the daily, which could be a short bias. {image} {image}
I've been drawing my HCR and LCS from the close and not the wicks.
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“Every single day, ordinary people do extraordinary things"
  • #125,099
  • May 1, 2013 8:35am May 1, 2013 8:35am
Quoting str8
I have a question for the experienced traders from this thread. Do you provide signals on zulutrade or offer trading services like trading for other people?
We still believe in teaching people how to fish rather than tossing them a fish each time for something in return.

You won't find people in this thread campaigning for their commercial existence. We are here to help traders become better traders and eventually seasoned traders. There is no merit in following trading signals in the hopes that one day you'll pick a pattern and that too if you really do want to be independent at all. Finding a competent trader to trade for you is more meritorious if you still want to benefit from the returns that trading can get without actually getting directly involved yourself but then again this field is absolutely tainted with scammers and my advice would be to be very cautious in selecting the right fund manager for you.

If however you choose to actually learn to fish, i.e be an independent skillful trader, then this thread and the people that populate it will open a whole new world for you to benefit from.

g.
I believe . . .
  • #125,100
  • Edited 11:02am May 1, 2013 10:38am | Edited 11:02am
Quoting ghous
{quote} We still believe in teaching people how to fish rather than tossing them a fish each time for something in return. You won't find people in this thread campaigning for their commercial existence. We are here to help traders become better traders and eventually seasoned traders. There is no merit in following trading signals in the hopes that one day you'll pick a pattern and that too if you really do want to be independent at all. Finding a competent trader to trade for you is more meritorious if you still want to benefit from the returns that trading can get without actually getting directly involved yourself but then again this field is absolutely tainted with scammers and my advice would be to be very cautious in selecting the right fund manager for you. If however you choose to actually learn to fish, i.e be an independent skillful trader, then this thread and the people that populate it will open a whole new world for you to benefit from. g.
I want to learn to fish. I would only take a fund manager for learning how to trade not for him to make money for me. If I see what setups trades a competent trader, how he makes trade management I think I will learn faster. There are indeed many scammers but anyway I would only give to a fund manager the minimum amount required to trade because it would be only for learning purposes. I'm only interested in trading with price action though, not with indicators, so I'll stick to reading this thread.
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