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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

  • #130,041
  • Feb 21, 2014 4:06am Feb 21, 2014 4:06am
Quoting Neytiri
{quote} Brilliant. I have a long, long way to go. N
Don't we all?

Learning is a life long process

g.
I believe . . .
  • #130,042
  • Feb 21, 2014 4:10am Feb 21, 2014 4:10am
Quoting ghous
{quote} {image} g.
How to know the down move was a "massive fakeout" when it happens? Or don't you and label it like a "massive fakeout" after the up move?

thanks,

FP
Posting Demo charts, mirroring some of them live.
  • #130,043
  • Feb 21, 2014 4:34am Feb 21, 2014 4:34am
Quoting forexpiet
{quote} How to know the down move was a "massive fakeout" when it happens? Or don't you and label it like a "massive fakeout" after the up move? thanks, FP
These charts should help.

Let me know if its still unclear.

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g.
I believe . . .
  • #130,044
  • Feb 21, 2014 4:41am Feb 21, 2014 4:41am
I think the retracement is over and the uptrend might resume now.

N
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  • #130,045
  • Feb 21, 2014 12:10pm Feb 21, 2014 12:10pm
Quoting ghous
{quote} Hey Ken, Yes exactly, the fake out occurs when support fails to become resistance on the pull back and flips back to support when price makes its way back up (and vice versa too). Just like you can combine multiple bars to form a pin bar or an outside bar, likewise you can combine multiple bars to create your fake out too. g.
Thanks Ghous!
  • #130,046
  • Feb 21, 2014 9:16pm Feb 21, 2014 9:16pm
Quoting Neytiri
I think the retracement is over and the uptrend might resume now. N {image}
.
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  • #130,047
  • Feb 22, 2014 6:25am Feb 22, 2014 6:25am
Hello Guys!
What do you think about gbp/cad? Is it good possibility? I doubt that will be trade into traffic.

Cheers
D
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  • #130,048
  • Feb 22, 2014 6:26am Feb 22, 2014 6:26am
pinbar off vbrn 9.0 which is a key ppz.

Neytiri
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  • #130,049
  • Feb 22, 2014 5:03pm Feb 22, 2014 5:03pm
Quoting Neytiri
pinbar off vbrn 9.0 which is a key ppz. Neytiri {image}
Watch yourself on this, its more of a potential right shoulder then off a nice ppz. It's also technically still a bullish bar without much space below before price runs into structure, such as you indicate with your lower red line. If I traded this, I'd be taking quick profit.
  • #130,050
  • Feb 22, 2014 11:53pm Feb 22, 2014 11:53pm
Quoting HipsterPipster
{quote}Watch yourself on this, its more of a potential right shoulder then off a nice ppz. It's also technically still a bullish bar without much space below before price runs into structure, such as you indicate with your lower red line. If I traded this, I'd be taking quick profit.
Thanks for pointing it out.

N
  • #130,051
  • Feb 23, 2014 1:59am Feb 23, 2014 1:59am
.
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  • #130,052
  • Feb 23, 2014 2:28pm Feb 23, 2014 2:28pm
Quoting Dariusek
Hello Guys! What do you think about gbp/cad? Is it good possibility? I doubt that will be trade into traffic. Cheers D {image}
I'll be taking this one if it doesn gap too much to the downside. It's beautiful pin bar at strong PPZ and strong confluence of BRN 1.8500 and Divergence. It's also double top.
There is minor S/R at 1.8350 but first significant level is 1.8225 and I think there is good change of price getting to next BRN of 1.8000.
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  • #130,053
  • Edited 3:16pm Feb 23, 2014 2:52pm | Edited 3:16pm
Quoting michal7
{quote} I'll be taking this one if it doesn gap too much to the downside. It's beautiful pin bar at strong PPZ and strong confluence of BRN 1.8500 and Divergence. It's also double top. There is minor S/R at 1.8350 but first significant level is 1.8225 and I think there is good change of price getting to next BRN of 1.8000. {image}
The one thing that gives me pause on that trade is the wickedly strong trend -- parabolic on the weekly and monthly charts. I trade within the parameters of a single chart (e.g., daily chart for daily trade), with one exception. I always check the weekly and monthly charts for the trend.

Even taking that into account, however, it appears to be an excellent CT trade. One of my favorite posts on this thread, from James (post no. 11,699):

Quote
spotting these price action set ups at double or triple bottoms/tops and finding divergence with cci,macd,stoch,rsi etc is about as sure a money making set up as your going to find in this business if your a chart trader. spend some screen time and go look to confirm. a strong case can be made to just be patient and trade nothing but these set ups. they are not rare and can give any new or struggling trader a very good chance of success if they learn to use good MM/risk perameters and follow my mantra of treating it as a business. This is a very large thread with a ton of great posts by a lot of great people but trust me when i say this. If you will take this one post seriously it might be the single most "valuable" one in the thread.
Forex is for the lifestyle.
  • #130,054
  • Feb 23, 2014 2:59pm Feb 23, 2014 2:59pm
Quoting michal7
{quote} I'll be taking this one if it doesn gap too much to the downside. It's beautiful pin bar at strong PPZ and strong confluence of BRN 1.8500 and Divergence. It's also double top. There is minor S/R at 1.8350 but first significant level is 1.8225 and I think there is good change of price getting to next BRN of 1.8000. {image}

at the top of a long trend up though.
I'll consider it if the .80 BRN / .85 RN + previous bar highs holds as a resistance.

take care
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Slow & steady
  • #130,055
  • Feb 23, 2014 4:17pm Feb 23, 2014 4:17pm
I like this but its a big SL and CAD has been trashed recently. Looking at other CAD pairs as well like CADCHF daily another PB off S2 (like the GBPCAD also bounced off R2 pivot) but would I buy it....

All CAD pairs finished the same, end of day PB. Sell off across the board so I'm going to wait for best entry I can and go with a CAD pair that swap favours direction of the trade. USDCAD for example, smaller spread and swap favours shorts.

PG
  • #130,056
  • Feb 23, 2014 4:35pm Feb 23, 2014 4:35pm
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  • #130,057
  • Feb 23, 2014 5:11pm Feb 23, 2014 5:11pm
nice one, my broker doesn't offer NZD CAD but I looked for that pair.
  • #130,058
  • Feb 23, 2014 5:47pm Feb 23, 2014 5:47pm
sir,,
plz for usdcad and euraud ?
can u plz give idea they are going up or not?
as i got long in both
3nx
  • #130,059
  • Feb 23, 2014 6:25pm Feb 23, 2014 6:25pm
Quoting forexer11
sir,, plz for usdcad and euraud ? can u plz give idea they are going up or not? as i got long in both 3nx
Hey FX

Can you show us your entries? Usd/cad had a couple nice entries that worked out well. Here was mine I posted last week

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eur/aud is stuck in a pretty choppy box
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  • #130,060
  • Feb 24, 2014 1:33am Feb 24, 2014 1:33am
Hi guys,

USDCAD - I see possible entry on d1 chart,

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We have

  1. nice pin
  2. good level
  3. double top
  4. MACD divergency

One thing that is telling me to not take this trade is - trend. On d1 and w1 there is an up trend.


Please share your point of view about my perspective

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