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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

  • #130,401
  • Apr 2, 2014 2:15am Apr 2, 2014 2:15am
[quote=mbqb11;7377277]Look at this picture perfect boxing on aud/nzd ...quote]

i was able to enter at the bottom of that range (http://www.forexfactory.com/showthre...22#post7359322), but i got out when price will not break that mid point line to my satisfaction.
there were also some range plays in the lower timeframe of this pair that i played.
but my target is to re-enter on a break of that range which coincides with the break of some pin bar... 2 months ago.

Dinta
  • #130,402
  • Apr 2, 2014 2:21am Apr 2, 2014 2:21am
chart tells it all

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Hero calls followed by margin calls...
  • #130,403
  • Apr 2, 2014 3:11am Apr 2, 2014 3:11am
Quoting PhAnTi'
{quote} did you lock in some? dont get greedy, 60 pips within hours on kiwi is a good result, believe me J
Took 65 profit , although it could go even further on momentum.


I would love to see a bounce on AUDNZD.
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“A year from now you will wish you had started today.” -Karen Lamb
  • #130,404
  • Apr 2, 2014 3:30am Apr 2, 2014 3:30am
Quoting PhAnTi'
chart tells it all {image}
I won't say that this wouldn't go lower, but I would not go short looking at 1.4900

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“A year from now you will wish you had started today.” -Karen Lamb
  • #130,405
  • Apr 2, 2014 3:33am Apr 2, 2014 3:33am
Quoting bogdan89
{quote} Took 65 profit , although it could go even further on momentum. I would love to see a bounce on AUDNZD. {image}
Im still in... but I entered much lower so I could lock the profit.
Lose small, win BIG
  • #130,406
  • Apr 2, 2014 5:27am Apr 2, 2014 5:27am
Let's see how far this can go
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  • #130,407
  • Apr 2, 2014 5:28am Apr 2, 2014 5:28am
Pls,Any take on Gu?
  • #130,408
  • Apr 2, 2014 7:49am Apr 2, 2014 7:49am
Quoting mbqb11
lot of pairs are boxing or consolidating. Won't be long before the markets "break" again. Stay patient though Look at this picture perfect boxing on aud/nzd Midpoint of a box is almost ALWAYS a PPZ as well. I just wait till the tops and bottoms of these boxes most time. Prime areas for PA {image}
Mike, when you look for a break of the box do you trade inside bars when no outside bar forms? If price closes outside of the box and forms a bar with a strong close but it's not an outside bar and the next bar forms an inside bar with close also outside of the box do you trade it? I'm thinking inside bars can have 2 advantages: the bar didn't close inside the box again and didn't form something like a 2 day pin (it's confirmation that the break isn't a fake break) and because it's an inside bar the bar didn't break the high of the first break bar and didn't retrace immediately after the break (usually it's a bad thing if price breaks and then retraces).

Do you only look for patterns (boxes, wedges) or PPZ when looking for trading a breakout or do you also look for important swing points (with big swing in and swing out) but which aren't PPZ? Thank you in advance.
  • #130,409
  • Apr 2, 2014 9:30am Apr 2, 2014 9:30am
Quoting PhAnTi'
eurjpy at major supply. Good for cheap shorts here with stops above top. If conference provides euro shorts tomorrow this will be a runner runner {image} J
did someone trade it?

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I did...

best,
J
Hero calls followed by margin calls...
  • #130,410
  • Apr 2, 2014 9:31am Apr 2, 2014 9:31am
Quoting PhAnTi'
chart tells it all {image}
#2

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Best,
J
Hero calls followed by margin calls...
  • #130,411
  • Apr 2, 2014 9:35am Apr 2, 2014 9:35am
Quoting str8
{quote} Mike, when you look for a break of the box do you trade inside bars when no outside bar forms? If price closes outside of the box and forms a bar with a strong close but it's not an outside bar and the next bar forms an inside bar with close also outside of the box do you trade it? I'm thinking inside bars can have 2 advantages: the bar didn't close inside the box again and didn't form something like a 2 day pin (it's confirmation that the break isn't a fake break) and because it's an inside bar the bar didn't break the high of the first...
Hey Str8

You can trade inside bars that way. Probably the easiest way to spot them is at good areas like that(since they will appear all over your charts). I don't trade many inside bars, maybe one a year or something. But that's a logical and sound way to try to play them.

When trading breakouts, those are of patterns. Boxes, wedges, flags , etc. A break of a PPZ is not a "breakout" to me as it's not of a pattern but rather of an equilibrium point in the market. So the dynamics are different. So I'd play areas like that different then say a wedge breakout. Of course sometimes a breakout pattern lines up with a PPZ and that's even better.

Yes I will trade major swing points without PPZs as well

Hope this helps
Mike
  • #130,412
  • Apr 2, 2014 10:28am Apr 2, 2014 10:28am
Quoting PhAnTi'
chart tells it all {image}
Is this a Heads and Shoulders pattern?
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  • #130,413
  • Apr 2, 2014 11:16am Apr 2, 2014 11:16am
Quoting PhAnTi'
{quote} did someone trade it? {image} I did... best, J
Phanti, do you enter trades before candle close?.
  • #130,414
  • Apr 2, 2014 12:20pm Apr 2, 2014 12:20pm
Hey guys,

Here's a trade that I took and got stop out few hours ago. Is my stop loss too tight and doesn't give price to move around much?

My thoughts are since price broke the trendline, there is high chance that price will reverse. Does this make sense?

Thank you

Ken
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  • #130,415
  • Apr 2, 2014 12:25pm Apr 2, 2014 12:25pm
Quoting sojmanie
{quote} Is this a Heads and Shoulders pattern? {image}

Yes it is Mike mentioned about this setup in his previous post. http://www.forexfactory.com/showthre...26#post7360226
  • #130,416
  • Apr 2, 2014 2:12pm Apr 2, 2014 2:12pm
New to the Thread. Enjoyed glancing over it the past few days. Will through a few ideas out there. Take it easy on me. Virgin Poster

I use NY close charts just an FYI

CPL Ideas I am glancing at

http://screencast.com/t/Pc1bLJ1u $CHFJPY

http://screencast.com/t/u3VsEqvj $EURJPY

http://screencast.com/t/hYQ4Jl3SX $EURAUD

http://screencast.com/t/jKj5QwHQ6 $EURTRY no Commentary just looks like it broker major support and headed lower big gap
  • #130,417
  • Apr 2, 2014 4:06pm Apr 2, 2014 4:06pm
Quoting njodogg
New to the Thread. Enjoyed glancing over it the past few days. Will through a few ideas out there. Take it easy on me. Virgin Poster I use NY close charts just an FYI CPL Ideas I am glancing at http://screencast.com/t/Pc1bLJ1u $CHFJPY http://screencast.com/t/u3VsEqvj $EURJPY http://screencast.com/t/hYQ4Jl3SX $EURAUD http://screencast.com/t/jKj5QwHQ6 $EURTRY no Commentary just looks like it broker major support and headed lower big gap

None of those closed NY like I Would have liked, but I did find one trade that might have potential a $GBPUSD pending short. Liked how we have a two day inside formation and it stayed below resistance.

http://screencast.com/t/RqdYgNn7
  • #130,418
  • Apr 2, 2014 5:22pm Apr 2, 2014 5:22pm
Quoting njodogg
{quote} None of those closed NY like I Would have liked, but I did find one trade that might have potential a $GBPUSD pending short. Liked how we have a two day inside formation and it stayed below resistance. http://screencast.com/t/RqdYgNn7
I would suggest watching this one closely....and be very wary of the bar lows marked in the attached.

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  • #130,419
  • Apr 2, 2014 5:40pm Apr 2, 2014 5:40pm
Good Call Donkey
  • #130,420
  • Apr 2, 2014 6:17pm Apr 2, 2014 6:17pm
Quoting PhAnTi'
{quote} did someone trade it? {image} I did... best, J

Hi, if you don't mind me asking, how do you determine major supply area?
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