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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

  • #134,501
  • Apr 21, 2015 5:36am Apr 21, 2015 5:36am
Quoting Guitarbloke
USD/CHF M30. Surely it can't be this simple?! PB rejecting BRN 0.9600 level and 365 ema. See how she goes. {image}
Be carefull price has engulfed a major PPZ around the 9600, also on the 20m-TF there a nice minor PPZ around the 9581 which you're selling into, for a safe sell I would prefer this minor PPZ to be engulfed south 1st. My take is that price wants to go higher if that minor PPZ holds
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Pipcrawler
  • #134,502
  • Apr 21, 2015 6:03am Apr 21, 2015 6:03am
Quoting FrenchPips
Looking at weakness in the PA on NZDUSD around 0.7700. Its made a return to this level but I'm seeing a kind of daily pin formation at a (possibly inexistant) PPZ {image}
My sell trade has almost retraced to BE, luckily banked a few pips at least earlier. Either way i'll be watching this area around 0.77000 ish for bearish PA to get in again short.
'Fail to plan, plan to fail'
  • #134,503
  • Apr 21, 2015 6:05am Apr 21, 2015 6:05am
Also seeing a bit of a struggle between 97.30 - 97.80 on CADJPY - unfortunately the location isn't great but we have a pin bar on the 4 hr and daily, and the 1 hr is winding up tight for what looks like a break out with momentum either side.

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Ignore the red lines - just my alerts and not a PPZ I've drawn in or anything.
  • #134,504
  • Apr 21, 2015 6:10am Apr 21, 2015 6:10am
Quoting xmzhang
{quote} Be carefull price has engulfed a major PPZ around the 9600, also on the 20m-TF there a nice minor PPZ around the 9581 which you're selling into, for a safe sell I would prefer this minor PPZ to be engulfed south 1st. My take is that price wants to go higher if that minor PPZ holds {image}
Hey Zhang. Thanks for going to the trouble to post your chart. Much appreciated mate. I see what you mean about that level. I note that price has stalled there also on the H1. I'm not too worried, but will keep an eye on it though. See how we go! Thanks again. G
'Fail to plan, plan to fail'
  • #134,505
  • Apr 21, 2015 6:29am Apr 21, 2015 6:29am
Quoting FrenchPips
Also seeing a bit of a struggle between 97.30 - 97.80 on CADJPY - unfortunately the location isn't great but we have a pin bar on the 4 hr and daily, and the 1 hr is winding up tight for what looks like a break out with momentum either side. {image} Ignore the red lines - just my alerts and not a PPZ I've drawn in or anything.
FP. This is my CAD/JPY H4 chart below. It's very different to yours. No pin bar on mine, although if i were to blend that bearish engulfing bar with the bar before it, we have a bearish pin bar which leads me to ask, is there some kind of blended candle software enabled on your chart? My charts are 'New york close' i.e. last candle/bar closes 5.00p.m. NY time, which is what Mike and Jim use i'm sure, for a more complete picture. I'm just trying to work out why our charts are different. Anybody else seeing a different chart? Mike?

Anyway, no trade for me at the moment on this pair. But I will wait like a crocodile in the shallows.

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'Fail to plan, plan to fail'
  • #134,506
  • Apr 21, 2015 6:51am Apr 21, 2015 6:51am
USD/CHF. (1 hour chart) 1st. target hit. profit taken. free trade from here.

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'Fail to plan, plan to fail'
  • #134,507
  • Apr 21, 2015 7:07am Apr 21, 2015 7:07am
Quoting Guitarbloke
{quote} FP. This is my CAD/JPY H4 chart below. It's very different to yours. No pin bar on mine, although if i were to blend that bearish engulfing bar with the bar before it, we have a bearish pin bar which leads me to ask, is there some kind of blended candle software enabled on your chart? My charts are 'New york close' i.e. last candle/bar closes 5.00p.m. NY time, which is what Mike and Jim use i'm sure, for a more complete picture. I'm just trying to work out why our charts are different. Anybody else seeing a different chart? Mike? Anyway,...
Oh yeah, that's normal. Some of us use different brokers and chart packages which have different times - guess its all down to the data feed and my daily closes at midnight London GMT. The 4 hr bar would start then too and it all flows from there. At least the hourlies are the same !

I've come to the conclusion that its all good and overall we get to see the same price action in a different way - I guess a 4hr pin on yours might look like a BEOB or BUOB on mine.
  • #134,508
  • Apr 21, 2015 7:09am Apr 21, 2015 7:09am
Sold EU Stocks 50 at 3730. I'm probably way too soon for a big move down in stock indices but on the weekly we have a BEOB, on the daily, a lot of red bars, and on the 4hr, this little pin with perhaps too big of a body.

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  • #134,509
  • Apr 21, 2015 7:21am Apr 21, 2015 7:21am
Quoting FrenchPips
{quote} Oh yeah, that's normal. Some of us use different brokers and chart packages which have different times - guess its all down to the data feed and my daily closes at midnight London GMT. The 4 hr bar would start then too and it all flows from there. At least the hourlies are the same ! I've come to the conclusion that its all good and overall we get to see the same price action in a different way - I guess a 4hr pin on yours might look like a BEOB or BUOB on mine.
Ah, ok. Thanks for that explanation FP. The EU stocks chart looks to have plenty of movement and opportunities.
'Fail to plan, plan to fail'
  • #134,510
  • Apr 21, 2015 8:07am Apr 21, 2015 8:07am
anyone watching this pair?
appears to be a nice wedge breakout.
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  • #134,511
  • Apr 21, 2015 8:27am Apr 21, 2015 8:27am
USD/CHF Stopped out at BE. Bagged 30 pips at least.

NZD/USD H4. Sell.

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'Fail to plan, plan to fail'
  • #134,512
  • Apr 21, 2015 8:35am Apr 21, 2015 8:35am
Quoting fxin
anyone watching this pair? appears to be a nice wedge breakout. {image}
I've got enough on my plate at the mo Fxin. Just scrolling through a few pairs to get to this one i see a few more opportunities, but how would you play this one? Looks like it might move back up too? All the best with it.
'Fail to plan, plan to fail'
  • #134,513
  • Apr 21, 2015 8:38am Apr 21, 2015 8:38am
Quoting fxin
anyone watching this pair? appears to be a nice wedge breakout. {image}
Daily Chart may make you think twice
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  • #134,514
  • Apr 21, 2015 8:51am Apr 21, 2015 8:51am
Quoting deankenny21
{quote} Daily Chart may make you think twice
I was just coming in to post the same chart. If anything, I think it is tempting as a buy, and looks like the 4hr chart could post a nice pin (plus I feel NZD is running in to some congestion after a strong run)
  • #134,515
  • Apr 21, 2015 9:07am Apr 21, 2015 9:07am
Been watching NU all day, got most of that move, seems to have slowed.
  • #134,516
  • Apr 21, 2015 10:03am Apr 21, 2015 10:03am
Sold NZDUSD at 0.77 as I missed it last time.
  • #134,517
  • Edited 5:47pm Apr 21, 2015 5:04pm | Edited 5:47pm
Thanks guys, No doubt GB, you sure can fill a plate Will watch more carefully next time on the daily charts, but always learning as I go for a demo newbie. The twheels are on for now
Cheers
John
  • #134,518
  • Apr 21, 2015 5:05pm Apr 21, 2015 5:05pm
NZD/USD H4. 1st target hit 30pips banked. BE. 2nd order free trade and running.

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'Fail to plan, plan to fail'
  • #134,519
  • Apr 21, 2015 5:30pm Apr 21, 2015 5:30pm
Quoting Guitarbloke
NZD/USD H4. 1st target hit 30pips banked. BE. 2nd order free trade and running. {image}
Hi GB,

Would you mind explaining a little bit of your analysis behind this trade please?

Many thanks
John
  • #134,520
  • Apr 21, 2015 5:34pm Apr 21, 2015 5:34pm
EUR/USD H1. Jumping back in short on this PB. Bearish close and bearish PA in the area. a bit late and not at the best price, but i think it's worth a crack.

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'Fail to plan, plan to fail'
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