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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

  • #129,721
  • Jan 29, 2014 5:41am Jan 29, 2014 5:41am
Quoting patapouer
{quote} It sure is! But both are the same, aren't they? I mean, we both trade CFDs on Dupont stocks… so we both have the same chart of CFD for #DD don't we?... I had a glance at Investopedia's pages on stock/shares and CFDs. From what I understand, CFDs are just a way to trade shares, futures or metals… The #DD stock chart is: {image} (from Market Watch) which is definitly similar to our CFDs charts... Or did I mixed everything up once again?? Anyway, let's see how it unfolds
Thank you. I tried to find a chart also, but found just too big size chart, so they were unrecognazable. You didnt mix everything, I understood it quite right.

I thinl this trade is very good, beautiful setup, and lot of confluence. By the way squeezing triangle is my favourite. It is the highest probability setup in my trading history.
If not up, then down, otherwise sideways :-)
  • #129,722
  • Jan 29, 2014 8:32am Jan 29, 2014 8:32am
Quoting ghous
{quote} A break of the box could lead to some selling come in, I agree with you, but I would not discount the box or the 90 BRN PPZ straight underneath. g. {image}
Right buddy, it's a tricky one. Thanks G
  • #129,723
  • Jan 29, 2014 3:06pm Jan 29, 2014 3:06pm
BEOB on S&P500, also a false break of the inside bar, likely to close below the PPZ (maybe even below the lowest close of support)
Problem: does this blue box indicate traffic and no space? Trendline up seems still valid.

This makes me think it is not a good setup for a short trade, but I'd like to ask becasue it maybe that I got it all wrong ;-)
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Michal9
  • #129,724
  • Jan 29, 2014 3:16pm Jan 29, 2014 3:16pm
What do you think of long EURAUD idea?
I think I see a key level (grey box), at a BRN 1.55, and last two days, while they are not proper pinbars, they look like a somewhat bullish price action to me.
FTA is probably the last high, or recent highest close, but then sky is the limit ;-) And shorting AUD seems compatible with shorting SPX, which shown a BEOB.

May I ask for an opinion for learning please? Thank you!
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Michal9
  • #129,725
  • Jan 29, 2014 7:59pm Jan 29, 2014 7:59pm
Hey guys!, I'm not really new to these price action bar formations, but I have to re-train my eyes to see good setups when they occur.

In hindsight, I noticed on the EUR/USD, the pinbar that formed on Jan 24th.

Firstly, I plotted the weekly PPZ ( dashed white line ) and daily PPZ ( 2 solid pink lines ). Next I plotted a fib ret from the previous swing high and noticed confluence of the Fib 50% and daily PPZ. Analyzing the pinbar, it has a long tail in relation to the body and has a decent amount of space to run.

I would have put a buy at 1.36602 ( the break of the pin ), a stop at the top of the pinbar, and looked to take profit at 1.36200 because of the ppz trouble area.


Any input is appreciated, thanks!
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  • #129,726
  • Jan 30, 2014 10:36am Jan 30, 2014 10:36am
yes I also revisited this one this morning, it was a pin but it didn't have much confluence going for it, think the fib was the only thing, no 365ma, it was its own swing point, trend doesn't really jump out at you. Would have been good if you had taken it but I'd also understand many reasons why someone wouldn't.

The more I read the more I take on board "take the trades that jump out at you", this one didn't.
PG
  • #129,727
  • Jan 30, 2014 6:02pm Jan 30, 2014 6:02pm
Hey all,

Results this month ....0%
...at least I didnt loose any money ...i guess

Take care all
Dan
  • #129,728
  • Jan 30, 2014 10:49pm Jan 30, 2014 10:49pm
Hello everyone:

My first post here. I began trading about four years ago, blew out an account over the course of a year or so, and then took an extended leave of absence. Every six months or so, I would surf the web in search of a method that might work. I purposely waited until I found something worthy.

I then found the james16 chart thread about seven months ago. I was impressed by the experience of the thread members and their willingness to share their time and knowledge. I spent several weeks reading through the numerous summaries and posts of senior members -- and took copious notes. I opened a demo account (at FXDD) and I averaged five percent gains over five months, until I hit December (for a two percent loss).

Because of that loss, I postponed opening a live account for a month. But I now appear headed for a six percent gain in January. So, I just opened a modest live account this week. If my results stay consistent over the next three or four months, I will open a full-size account. I am trying to take things slow and exercise caution.

In hindsight, one of the things that I should have done (as part of treating my trading as a business) is reading this thread every day and participating in it, instead of simply relying on my notes from this thread. So, I am now rectifying that omission, especially now that I am once again trading live.

I am very appreciative of all the contributions to this thread, especially by the senior members. Thank you, everyone. I look forward to learning more -- and hopefully contributing something myself.

My first question: My only monthly loss (for two percent) occurred during December. I suspect that December is a poor month for trading, perhaps because of thin trading activity. Should I expect that to occur every December? Do experienced traders walk away from their keyboards during December -- and certain other times of the year? If so, what times of the year are notoriously bad?
Forex is for the lifestyle.
  • #129,729
  • Jan 30, 2014 11:11pm Jan 30, 2014 11:11pm
classic pa at work
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  • #129,730
  • Jan 30, 2014 11:27pm Jan 30, 2014 11:27pm
CADJPY reaction to resistance. H1 engulf south.
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  • #129,731
  • Edited Feb 1, 2014 12:06am Jan 31, 2014 7:50am | Edited Feb 1, 2014 12:06am
Quoting Tail Gunner
Hello everyone: My first post here. I began trading about four years ago, blew out an account over the course of a year or so, and then took an extended leave of absence. Every six months or so, I would surf the web in search of a method that might work. I purposely waited until I found something worthy. I then found the james16 chart thread about seven months ago. I was impressed by the experience of the thread members and their willingness to share their time and knowledge. I spent several weeks reading through the numerous summaries and posts...
Hello TailGunner,
Holidays are always tricky. Low volume/high volatilty can create wierd price action. I tend not to trade on holidays but I do watch the market and update my charts. It's not a bad idea to step aside during holidays.
  • #129,732
  • Jan 31, 2014 7:53am Jan 31, 2014 7:53am
Closed it out. Have a nice weekend everyone! Go Denver!!!
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  • #129,733
  • Jan 31, 2014 10:20am Jan 31, 2014 10:20am
Quoting toti1981
Hi Guys, Hi Mike! I was discussing what will happen tonight with a friend of mine. My HTF analysis clearly say that if we get a break of 3800 (EURUSD), will be break of monthly and weekly levels, we are going into SPACE of 1000 pips. On weekly we had already big BUOB last week. One of the biggest bullish bars lately. My Daily analysis is on the chart. My assumtion is that big boy are waiting some big news event like FOMC or NFP to load their milion lots. Please let me know if it makes sense to you. {image}

Hey Toti

One important thing to me is keeping my timeframes separate for the most part. A timeframe like the daily vs the monthly is massively different in scope

From a monthly perspective the recent bounce confirms up a beautiful TL and wedge type pattern. The euro has been ranging and more so decreasing in range for a long time. THis is why the daily is a heaping mess

Based on the time you posted the daily chart price was very sideways and in a box. So while the big BUOB doesn't peek my interest same went for that pin. THat's why price chopped around. So yes we did fall too but it was a rough battle that is very difficult to manage if you don't stick to your convictions. Environments like this I don't find very conducive to my style

Hope these charts help!
Mike
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  • #129,734
  • Jan 31, 2014 1:13pm Jan 31, 2014 1:13pm
Uou
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  • #129,735
  • Jan 31, 2014 1:23pm Jan 31, 2014 1:23pm
Quoting mbqb11
{quote} Hey Toti One important thing to me is keeping my timeframes separate for the most part. A timeframe like the daily vs the monthly is massively different in scope From a monthly perspective the recent bounce confirms up a beautiful TL and wedge type pattern. The euro has been ranging and more so decreasing in range for a long time. THis is why the daily is a heaping mess Based on the time you posted the daily chart price was very sideways and in a box. So while the big BUOB doesn't peek my interest same went for that pin. THat's why price...
Hi Mike,

I was speculating about what could happen in case we get a spike on fomc. Some big story, which obviously didnt. Was very quiet news time... I liked the confluences and the big "Mike" bar :-) and i was expecting a flip to support after it. Unfortunately every bar after it closed below the previous so looked like the bulls lost it.
Now it looks like we have a break of the daily TL. thank you for your analysis.

Toti
  • #129,736
  • Jan 31, 2014 6:32pm Jan 31, 2014 6:32pm
Quoting hackmer
Uou {image}
the AUDNZD monthly is truly beautiful.
  • #129,737
  • Jan 31, 2014 9:19pm Jan 31, 2014 9:19pm
Quoting azizk20
Interesting beob forming on CAD/JPY monthly at a confluence of monthly pivot, ppz, 50% fib retracement on a long term downtrend. Break of box could possibilly be a good trade in the next month. Would love your comments. Regards, Aziz {image}

Have been looking at this setup as well, albeit not for a long run per sé.

As Ghous already pointed out, the 90 BRN is a stronghold of support.
For now I'll be on the sidelines, but if I can get in on a 50% ret (95.00-20) of this DBHLC, I'd be looking to TP @90.00.

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Keep us posted Aziz!
I'll give an update when the trade is finalized.
It's a sport, an artform and a science.
  • #129,738
  • Jan 31, 2014 10:52pm Jan 31, 2014 10:52pm
Quoting Tail Gunner
Hello everyone: My first post here. I began trading about four years ago, blew out an account over the course of a year or so, and then took an extended leave of absence. Every six months or so, I would surf the web in search of a method that might work. I purposely waited until I found something worthy. I then found the james16 chart thread about seven months ago. I was impressed by the experience of the thread members and their willingness to share their time and knowledge. I spent several weeks reading through the numerous summaries and posts...
Hey Tail Gunner,

Welcome the group and glad you decided to step out.

As for your question, I for one, sit out completely from the 20th of Dec till the First Monday after the NFP in January. Makes little sense to try and squeeze out pips during the low volume volatile trading activity during the holiday periods.

hope this helps.

g.
I believe . . .
  • #129,739
  • Feb 1, 2014 11:44am Feb 1, 2014 11:44am
How do you think about the NZD/JPY?

The're is PA against most xxx/JPY instruments on monthly charts and/or lower.

I also would like to hear your opinion on the occurrence of a Monthly Close coinciding with Weekly Close.
Would this add strength to a PA-setup?

Here's my charts:

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It's a sport, an artform and a science.
  • #129,740
  • Feb 1, 2014 11:58am Feb 1, 2014 11:58am
Quoting Donaciello
{quote} Have been looking at this setup as well, albeit not for a long run per sé. As Ghous already pointed out, the 90 BRN is a stronghold of support. For now I'll be on the sidelines, but if I can get in on a 50% ret (95.00-20) of this DBHLC, I'd be looking to TP @90.00. {image} {image} {image} Keep us posted Aziz! I'll give an update when the trade is finalized.
Sure Donaciello,will keep a watch and discuss if some interesting PA develop on the LTF.
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