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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

  • #127,321
  • Aug 15, 2013 2:50pm Aug 15, 2013 2:50pm
caught the BRN

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  • #127,322
  • Aug 15, 2013 3:13pm Aug 15, 2013 3:13pm
Hey guys, just doing some backtesting, replaying charts history in MT4...
I need your opinion on something. Where would you enter into this trade? I think, that below the trendline there is still a space where price could retrace. Would you consider placing a sell limit order at the 50% of the pin bar or placing a sell stop order at the break of the pin bar's low?
Thanks
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Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #127,323
  • Aug 15, 2013 3:44pm Aug 15, 2013 3:44pm
Quoting mbqb11
caught the BRN {image}
i don't see much resistance...
  • #127,324
  • Aug 15, 2013 4:08pm Aug 15, 2013 4:08pm
Quoting dan89
{quote} yup the midpoint I was actually going to draw that line on in the first attatchment but i couldnt get a 'clean' enough midpoint line .. so left it out here is an updated chart of where price went {image}
  • #127,325
  • Aug 15, 2013 5:51pm Aug 15, 2013 5:51pm
good consolidation to watch
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  • #127,326
  • Aug 15, 2013 6:58pm Aug 15, 2013 6:58pm
nice pinbars GBPCHF and EurNZD
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  • #127,327
  • Aug 15, 2013 8:40pm Aug 15, 2013 8:40pm
Quoting albus999
nice pinbars GBPCHF and EurNZD {image} {image}
I don't like either of them.
No space and going into ppz.
I was hoping the EU bar would have pierced the level more and closed just above it to give us space to the FTA.
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  • #127,328
  • Aug 16, 2013 1:02am Aug 16, 2013 1:02am
This where I would like to short GBP/CHF
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  • #127,329
  • Aug 16, 2013 1:02am Aug 16, 2013 1:02am
Quoting albus999
nice pinbars GBPCHF and EurNZD {image} {image}
In my opinion GBP/CHF is not the best pin. The PPZ is not clear, so its hard to define accurate resistance zone. It can be here, it can be higher also. And in the weekly perspective we now are in the box. I prefere The top ot it to watch.

EUR/NZD is to small and we had a break don the box already earlier. I mean were the price formed 2 days PB. Now it also not defined box for me.
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If not up, then down, otherwise sideways :-)
  • #127,330
  • Aug 16, 2013 1:03am Aug 16, 2013 1:03am
Anyone know what has happened to Jarroo?
Must be a month now, without a post.
  • #127,331
  • Edited 1:25am Aug 16, 2013 1:06am | Edited 1:25am
Quoting Magestic
{quote} In my opinion GBP/CHF is not the best pin. The PPZ is not clear, so its hard to define accurate resistance zone. It can be here, it can be higher also. And in the weekly perspective we now are in the box. I prefere The top ot it to watch. EUR/NZD is to small and we had a break don the box already earlier. I mean were the price formed 2 days PB. Now it also not defined box for me. {image}

Yeah, that breakout to the upside of the weekly downward pennant is what got my attention.
Edit, it is not really a pennant, not really sure what we call it, not a flag or a wedge but, it is a chart pattern, all the same.
The flagpole projection puts right around the 1.48500 area.
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  • #127,332
  • Aug 16, 2013 2:53am Aug 16, 2013 2:53am
Quoting mbqb11
good consolidation to watch {image}
Hey Mike,
the confluence with the TL was my TP
  • #127,333
  • Aug 16, 2013 3:20am Aug 16, 2013 3:20am
Quoting Magestic
{quote} In my opinion GBP/CHF is not the best pin. The PPZ is not clear, so its hard to define accurate resistance zone. It can be here, it can be higher also. And in the weekly perspective we now are in the box. I prefere The top ot it to watch. EUR/NZD is to small and we had a break don the box already earlier. I mean were the price formed 2 days PB. Now it also not defined box for me.
i agree with you that the pin on the EURNZD looks too small and would resistance soon although its at a box bottom but i still like the gbpchf much better and i think the FTA would soon meet price. Going to demo the gbpchf though to see if i would be right.
  • #127,334
  • Aug 16, 2013 3:23am Aug 16, 2013 3:23am
Quoting dan89
{quote} yup the midpoint I was actually going to draw that line on in the first attatchment but i couldnt get a 'clean' enough midpoint line .. so left it out here is an updated chart of where price went {image}
Updated chart ...

Looks like it will reach the top of the box ... persoanlly I would like it to drop from the top to the bottom of the box for a breakout play to the downside

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  • #127,335
  • Aug 16, 2013 3:24am Aug 16, 2013 3:24am
Quoting mbqb11
{quote} great Mak look at what happens at the heavy confluenced area {image}
I know shocking to know that I didn't see that, lol! Lesson learnt
  • #127,336
  • Aug 16, 2013 3:25am Aug 16, 2013 3:25am
Quoting Pinbar
{quote} I don't like either of them. No space and going into ppz. I was hoping the EU bar would have pierced the level more and closed just above it to give us space to the FTA.
i get your point but looking at the close below the BRN from the bar just before it and it included. However decided to demo it with tp at the FTA shown on my earlier chart. thanks for the comments.
  • #127,337
  • Aug 16, 2013 5:01am Aug 16, 2013 5:01am
Quoting dan89
{quote} Updated chart ... Looks like it will reach the top of the box ... persoanlly I would like it to drop from the top to the bottom of the box for a breakout play to the downside {image}
Did you play the PB from the bottom earlier? I just notice it was beautiful.
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If not up, then down, otherwise sideways :-)
  • #127,338
  • Aug 16, 2013 5:37am Aug 16, 2013 5:37am
CADCHF
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  • #127,339
  • Aug 16, 2013 5:55am Aug 16, 2013 5:55am
Jumping on the CADCHF band wagon ...
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  • #127,340
  • Aug 16, 2013 5:56am Aug 16, 2013 5:56am
Quoting giggles
CADCHF {image}
Your trenline is not accurate. What makes you think it should be drawn that way. Price doesnt touch it at all.
If not up, then down, otherwise sideways :-)
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