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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

  • #132,161
  • Sep 8, 2014 3:12pm Sep 8, 2014 3:12pm
Quoting Alehandro
{quote} Hi Mike, What about our first & second support levels? {image}
Hey Ale

Those levels are certainly something to watch but i'm using the gap plus the larger resistance point to help keep me in this trade. While gaps don't HAVE to close these is a great area with great PA to suggest that price certainly wants to try. My goal is more so to get under the 8000 BRN(closing) and then try to reduce my risk as we get closer towards the gap open. Again of course this is the discretion part, price has already gone to where we expect(fta) and given a nice profit, but I think the larger story is there for another move and i'll be aiming for that

Best
Mike
  • #132,162
  • Sep 8, 2014 4:29pm Sep 8, 2014 4:29pm
Hey mates,

USD/JPY broke a strong resistance & doesn't seem to have any problem till 500 pips above around 110.5 except for some round numbers!
Planning to buy? So far EUR & GBP didn't give any pullback opportunity, will JPY give it to us?
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  • #132,163
  • Sep 9, 2014 12:48am Sep 9, 2014 12:48am
Quoting mbqb11
{quote} Hey Ale Those levels are certainly something to watch but i'm using the gap plus the larger resistance point to help keep me in this trade. While gaps don't HAVE to close these is a great area with great PA to suggest that price certainly wants to try. My goal is more so to get under the 8000 BRN(closing) and then try to reduce my risk as we get closer towards the gap open. Again of course this is the discretion part, price has already gone to where we expect(fta) and given a nice profit, but I think the larger story is there for another...
Thank you Mike
  • #132,164
  • Sep 9, 2014 12:51am Sep 9, 2014 12:51am
Quoting Kouroushi
Hey mates, USD/JPY broke a strong resistance & doesn't seem to have any problem till 500 pips above around 110.5 except for some round numbers! Planning to buy? So far EUR & GBP didn't give any pullback opportunity, will JPY give it to us? {image}
I think there should be any retest at 105.24 (where will be better to find any price action pattern) and then go to 106.45-(50) with a stop loss at 104.90.
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  • #132,165
  • Sep 9, 2014 3:26am Sep 9, 2014 3:26am
Quoting mbqb11
i can't resist this one with this huge gap open, resistance top of box, nice beautiful pinbar, nice volatility Let's see if this thing can take us down {image} {image}
reduced some risk here as we approach the gap opening
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  • #132,167
  • Sep 9, 2014 5:49am Sep 9, 2014 5:49am
Quoting jarroo
{quote} On page 6, Post 111; Jim shows a chart of a DBLHC on the Daily Eur/Jpy which doesn't prove successful (let's just say it was delay a few days). On this chart, he refers back to the chart on Post 58, page 3. The actual chart is on Post 59. Trust me on that, I archived that chart and noted the page and post number. ("archived" is such a better word then "copied". ) Anyways, Jim made an error on referring "everyone go back and look at post 58", he meant to say post "68" , which is now post 69. It was post 68 back then, again confirming...

Where are u jarroo?...

Sonic
  • #132,168
  • Sep 9, 2014 6:28am Sep 9, 2014 6:28am
Quoting mbqb11
looks like FX is exciting again Here is my favorite chart to start the week. {image}
I bet you are in now
If not up, then down, otherwise sideways :-)
  • #132,169
  • Sep 9, 2014 7:05am Sep 9, 2014 7:05am
Quoting sonicdeejay
{quote} Where are u jarroo?... Sonic
haven't seen him for more than 15 months now or so...
It's all psychology...
  • #132,170
  • Sep 9, 2014 8:00am Sep 9, 2014 8:00am
USDCHF is losing demand momentum and prices are almost 2 std deviations above the mean. I would consider the possibility of a reversal before they retake the current bullish trend and follow the ongoing price action.
  • #132,171
  • Edited 11:23am Sep 9, 2014 11:06am | Edited 11:23am
Quoting Magestic
{quote} Do you think it worth trading looking on the bigger picture ? I think not. {image}
Quoting doerpn
{quote} Regarding USDJPY: And its in harmony with the monthly and weekly chart beeing at 105 RN working as resist ! Though its against the major trend....
Hello fri! glad that dont took this pin. Really it was strong uptrend. Although price reached FTA.

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  • #132,172
  • Sep 9, 2014 11:11am Sep 9, 2014 11:11am
how about audjpy? good swing high
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  • #132,173
  • Sep 9, 2014 3:56pm Sep 9, 2014 3:56pm
Quoting mbqb11
{quote} reduced some risk here as we approach the gap opening {image}
well the gap area held as support again and this thing turned quick. I was watching for closes back above the BRN, but what I actually did was set an alarm at my entry point in case the initial gap open became the new selling point. So I did take a bit of a loss on this one. Disappointing in this case cause it was quite a gain I was in and the potential was huge. I'll still be open to gap closes as always. In this case I'd watch for another failure like we just had(ie a false breakout of the bigger channel I posted) or a breakout and the next time we can CLOSE back in the channel.
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  • #132,174
  • Sep 9, 2014 3:58pm Sep 9, 2014 3:58pm
Quoting Magestic
{quote} I bet you are in now
I actually didn't M, there was a 4hr buob but it was VERY small, and those make me uncomfortable. It certainly go to the FTA and now we're hanging back around. It's still an area worth watching at this point. Aud/jpy suggest some lower action but i'm going to just wait for some stronger PA either way

Hope you caught that move though M

Mike
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  • #132,175
  • Sep 9, 2014 4:02pm Sep 9, 2014 4:02pm
here is a fun one though finally lol

Caught the buob and just sat on it. Buy out battle has occurred which is making for an interesting situation(could be cash value lower then where we are). New territory for me

here is my original chart
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updated
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  • #132,176
  • Sep 9, 2014 4:03pm Sep 9, 2014 4:03pm
Quoting dvimix
how about audjpy? good swing high {image}
nice trade plan DVI, i can't see selling this anyway else but a tight stop on a retrace to your level. Get to b/e say at the low of the beob and see if it can rip down. makes good sense to me


Mike
  • #132,177
  • Sep 9, 2014 4:16pm Sep 9, 2014 4:16pm
Hey ...Check out the Aussie , we're at the Bottom of the Box , I see no Rebound or even slight action near the Previous Strong support .
I would love to see how would this one work out. Any opinions ?!!
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  • #132,178
  • Sep 9, 2014 9:38pm Sep 9, 2014 9:38pm
Quoting mbqb11
{quote} nice trade plan DVI, i can't see selling this anyway else but a tight stop on a retrace to your level. Get to b/e say at the low of the beob and see if it can rip down. makes good sense to me Mike
Thanks Mike, your opinion is important. Really sell on break in this case is uncomfortable, big stop and less space to FTA, but also price can go bottom without retrace, so be it.
another interesting view
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  • #132,179
  • Sep 9, 2014 9:56pm Sep 9, 2014 9:56pm
Quoting Riskee
Hey ...Check out the Aussie , we're at the Bottom of the Box , I see no Rebound or even slight action near the Previous Strong support . I would love to see how would this one work out. Any opinions ?!! {image}
Hi Riskee. Yes, it broke support. I think, it is necessary to observe more. Now I dont see entry point.
  • #132,180
  • Sep 10, 2014 12:40am Sep 10, 2014 12:40am
Quoting Riskee
Hey ...Check out the Aussie , we're at the Bottom of the Box , I see no Rebound or even slight action near the Previous Strong support . I would love to see how would this one work out. Any opinions ?!! {image}
Hi,

Wait for a retest (the red zone) and look for a price action pattern.
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