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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

  • #126,241
  • Jun 18, 2013 9:17pm Jun 18, 2013 9:17pm
Quoting 4xjoema
{quote} Thankyou, I haven't taken the trade due to this I was thinking with the previous high not far off it might make an attempt at it.

Looks like its working out . .hitting some FTAs . .Nothing wrong with taking a valid SFP just as long as your expectations are to the targets (FTAs).

Price starts closing below our targets/FTAs is a great way to manage the trade.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #126,242
  • Jun 18, 2013 9:20pm Jun 18, 2013 9:20pm
heres one i took a small loss on...
1H BUOB on a nice swing low but closes above res. bailed after negative pa. May turn out to be a good trade, support seems to be holding, but wanted a better break.


jon
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PATIENCE... DISCIPLINE
  • #126,243
  • Jun 18, 2013 9:29pm Jun 18, 2013 9:29pm
one im still in...

BEOB on a retest of good level. bad time of day though, but not a bad break all considering. SL tightend up and waiting the outcome...maybe it will hit my TP this time..??


jon
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PATIENCE... DISCIPLINE
  • #126,244
  • Jun 18, 2013 9:33pm Jun 18, 2013 9:33pm
Quoting g_j_hook@yah
heres one i took a small loss on... 1H BUOB on a nice swing low but closes above res. bailed after negative pa. May turn out to be a good trade, support seems to be holding, but wanted a better break. jon {image}
I've been looking at this past Consolidation on the AudNzd . .bottom LCS levels on the Weekly and Daily . . the open Space between them and current price give them strength again. . .no surprise how current Price is reacting to them . .nice lower TF bullish Signatures.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #126,245
  • Jun 18, 2013 9:41pm Jun 18, 2013 9:41pm
Been trying to make sense of NZD/USD on the weekly.
It is a bit confusing but, I think I may have it worked out.
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  • #126,246
  • Jun 18, 2013 9:48pm Jun 18, 2013 9:48pm
Quoting jarroo
{quote} I've been looking at this past Consolidation on the AudNzd . .bottom LCS levels on the Weekly and Daily . . the open Space between them and current price give them strength again. . .no surprise how current Price is reacting to them . .nice lower TF bullish Signatures. Jim {image} {image} {image}
WOW, was wondering if we were on the same pair untill i noticed the dates!
my dailies dont go back that far, though i see from your charts wot you mean.
cheers for the heads up, i suppose we can expect some choppy PA also.....?? glad im out for now..unless it bounces straight up of course...lol
the memory of price....:nerd:

jon
PATIENCE... DISCIPLINE
  • #126,247
  • Jun 18, 2013 10:11pm Jun 18, 2013 10:11pm
Quoting Pinbar
Been trying to make sense of NZD/USD on the weekly. It is a bit confusing but, I think I may have it worked out. {image}
I'm sure that's part of it Steve but I believe Price is more reactive to the near term levels that are in Space. .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #126,248
  • Jun 18, 2013 10:16pm Jun 18, 2013 10:16pm
Quoting g_j_hook@yah
{quote} WOW, was wondering if we were on the same pair untill i noticed the dates! my dailies dont go back that far, though i see from your charts wot you mean. cheers for the heads up, i suppose we can expect some choppy PA also.....?? glad im out for now..unless it bounces straight up of course...lol the memory of price....:nerd: jon
Space is a wonderful thing . . on so many levels (no pun intended. ) . . . .just ask Mike (mbqb11) . .

Strong levels . like the ones on the Top and Bottom of Consolidation . .do tend to show there strength in Space . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #126,249
  • Jun 18, 2013 10:44pm Jun 18, 2013 10:44pm
Quoting jarroo
{quote} I'm sure that's part of it Steve but I believe Price is more reactive to the near term levels that are in Space. . Jim {image}

Thanks Jim.
Yes, that space and the two old PPZ below it are probably what is giving us the bounce.
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  • #126,250
  • Jun 18, 2013 11:09pm Jun 18, 2013 11:09pm
USD/CHF could possibly show us a nice SFP.
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  • #126,251
  • Jun 18, 2013 11:13pm Jun 18, 2013 11:13pm
hi jaroo, pinbar,

just to clarify about signatures....so as an example if i locate a HCR on a daily or weekly chart i then can go check the hourly or 4hr chart to see if price has closed below that resistance right? if it has then i could say that it is acting as a good resistance level, right?? and visa versa for LCS??

Please do advice


regards

Dennis
  • #126,252
  • Jun 18, 2013 11:18pm Jun 18, 2013 11:18pm
Quoting dennis4u15
hi jaroo, pinbar, just to clarify about signatures....so as an example if i locate a HCR on a daily or weekly chart i then can go check the hourly or 4hr chart to see if price has closed below that resistance right? if it has then i could say that it is acting as a good resistance level, right?? and visa versa for LCS?? Please do advice regards Dennis
I need to see some charts from you dennis, in your example.
Indicators show the past. Price Action "Indicates" the future.
  • #126,253
  • Jun 18, 2013 11:53pm Jun 18, 2013 11:53pm
Quoting dennis4u15
hi jaroo, pinbar, just to clarify about signatures....so as an example if i locate a HCR on a daily or weekly chart i then can go check the hourly or 4hr chart to see if price has closed below that resistance right? if it has then i could say that it is acting as a good resistance level, right?? and visa versa for LCS?? Please do advice regards Dennis
As Jim said, you need to post examples of your questions, all questions.

But, as I said previously, the signature is not the trigger, the level itself is the trigger or small tf PA.

The close above or below just keeps you in the trade or tells you to get out.
  • #126,254
  • Jun 19, 2013 12:11am Jun 19, 2013 12:11am
hi jaroo. pinbar,

i will post charts as soon as i locate these HCR or LCS

Regards

Dennis
  • #126,255
  • Jun 19, 2013 5:09am Jun 19, 2013 5:09am
Watching EUR/GBP for a possible SFP at this weekly level.
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  • #126,256
  • Jun 19, 2013 5:13am Jun 19, 2013 5:13am
hi jaroo,pinbar
would the CHFJPY below hold as a signature. Also do we look for signatures on the 4hr or the 1hr. If so then would you have closed the trade if the 1 hr closed higher than the DLCS but the 4hr closed below. Another question is that what if the 4hr closed higher once but the 1hr closed below several times with only one close above then do we take it as the level has been respected or not????
help would be much appreciated.

AL
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  • #126,257
  • Jun 19, 2013 5:39am Jun 19, 2013 5:39am
Quoting albus999
hi jaroo,pinbar would the CHFJPY below hold as a signature. Also do we look for signatures on the 4hr or the 1hr. If so then would you have closed the trade if the 1 hr closed higher than the DLCS but the 4hr closed below. Another question is that what if the 4hr closed higher once but the 1hr closed below several times with only one close above then do we take it as the level has been respected or not???? help would be much appreciated. AL {image} {image} {image}
Hey Albus.

I know that weekly BEOB has got a lot of people's attention but, look where it closed at 102.11

Take a look at the weekly levels.
We can see that this is not a single level but a weekly Double Barrel Level as Jarroo calls them.
Also, if we really look closely at the level, we can see that after the Daily close above on April 04, we have not had a daily close below the level.
Without a Daily close below, I would not even consider shorting this level.

Just my personal opinion but, it is best to look for a weekly or daily close below these levels, then enter on the retest.
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  • #126,258
  • Jun 19, 2013 6:29am Jun 19, 2013 6:29am
Quoting g_j_hook@yah
{quote} one from today.....same kinda thing but lower TF. jon {image}
BRN support turning into resistance it doesn't get better than that. Nice one!
  • #126,259
  • Jun 19, 2013 6:30am Jun 19, 2013 6:30am
Quoting Pinbar
Watching EUR/GBP for a possible SFP at this weekly level. {image} {image}
Hey pinbar, got my eye on this pair myself, looks interesting...


jon
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PATIENCE... DISCIPLINE
  • #126,260
  • Jun 19, 2013 6:51am Jun 19, 2013 6:51am
Quoting Pinbar
{quote}.......Just my personal opinion but, it is best to look for a weekly or daily close below these levels, then enter on the retest.
thanks Pinbar, that answers other questions not even asked. However on the retest does it mean that a 4hr confirmation of a level is better than three straight 1hr close confirmation of a level. thanks once again

Al.
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