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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

  • #134,881
  • May 13, 2015 6:28am May 13, 2015 6:28am
AUDNZD pinbar by proxy
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1st order TP on FTA 2nd order BE at FTA. Also on W1 we touched TL(support became resistance
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)
  • #134,882
  • May 13, 2015 6:31am May 13, 2015 6:31am
Quoting Donaciello
{quote} In retrospect I would have done best to wait for the H4 bar. Ultimately, I'm glad I walked away from this one with just under 1/6th R loss. I'm still interested in the area for tonight's Daily close. Here's an AUD/JPY I entered, without PA, but the 6 touches of the upper bound, just under RN 96; price breaking through it all, was enough for me. {image}
nice break, i like it too. i would be interested in a pull back to the 96.00 level for a long position...??

jon
PATIENCE... DISCIPLINE
  • #134,883
  • May 13, 2015 6:34am May 13, 2015 6:34am
Quoting g_j_hook@yah
{quote} nice break, i like it too. i would be interested in a pull back to the 96.00 level for a long position...?? jon
As I've moved the Stop, that would get me out .
It's a sport, an artform and a science.
  • #134,884
  • May 13, 2015 6:38am May 13, 2015 6:38am
Quoting Donaciello
{quote} As I've moved the Stop, that would get me out .

you caught the break nicely, i wouldn't be surprised at all if it retraces back to the 96.00 level though.

happy hunting

jon
PATIENCE... DISCIPLINE
  • #134,885
  • May 13, 2015 7:34am May 13, 2015 7:34am
Quoting g_j_hook@yah
{quote} you caught the break nicely, i wouldn't be surprised at all if it retraces back to the 96.00 level though. happy hunting jon
Hi Jon,

I think you're right.
I saw price losing steam and adjusted the TP (96.35); just got hit.

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It's a sport, an artform and a science.
  • #134,886
  • May 13, 2015 8:30am May 13, 2015 8:30am
EURNZD H1 - touch trade off the trend line. Humming nicely so far.
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  • #134,887
  • May 13, 2015 8:33am May 13, 2015 8:33am
Eurcad - Entered long at 1.35 RN, 1 hr Buob with divergence. Let's see how this one goes.
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  • #134,888
  • May 13, 2015 9:28am May 13, 2015 9:28am
have been busy with futures lately...

GBPAUD - a little late on the entry, but BE now.

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  • #134,889
  • May 13, 2015 10:18am May 13, 2015 10:18am
EURGBP H4 pin from support. 1st target hit takr some profit, 2nd order in BE now.
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Thanks GB )
  • #134,890
  • May 13, 2015 10:51am May 13, 2015 10:51am
AUD/USD monthly BUOB anyone?
of 50% & 61% fib
Now break 365 EMA and 15 pips above 0.8100 BRN
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  • #134,891
  • May 13, 2015 11:24am May 13, 2015 11:24am
GbpAud
Retest entry after breakout.
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Keeping it Simple
  • #134,892
  • May 13, 2015 11:28am May 13, 2015 11:28am
Some nice confluence at the trendline with BuOB on the 1HR.
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Keeping it Simple
  • #134,893
  • May 13, 2015 11:29am May 13, 2015 11:29am
Weekly chart showing zoomed out view of centre trendline, monthly and weekly pivot points.
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Keeping it Simple
  • #134,894
  • May 13, 2015 11:43am May 13, 2015 11:43am
Quoting habeeb
GbpAud Retest entry after breakout. {image}
Actually that's not a BUOB. the close didn't close above last bar high. but i'm already in. will close if it get under 0.7900
  • #134,895
  • May 13, 2015 11:52am May 13, 2015 11:52am
Quoting Reza.glm
{quote} Actually that's not a BUOB. the close didn't close above last bar high. but i'm already in. will close if it get under 0.7900
sorry habeeb, meant to quote my self by the way i'm happy to see you are still here.
  • #134,896
  • May 13, 2015 12:11pm May 13, 2015 12:11pm
Quoting Reza.glm
{quote} sorry habeeb, meant to quote my self by the way i'm happy to see you are still here.
Different brokers different time zones. These things happen.
Keeping it Simple
  • #134,897
  • May 13, 2015 12:13pm May 13, 2015 12:13pm
Another chance to go long ... 4hr pin joining the PA party.
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Keeping it Simple
  • #134,898
  • May 13, 2015 12:32pm May 13, 2015 12:32pm
Hello,

I have some questions about PA occurred today.

In this chart, the highlighted pinbar, indicated to go short, but I didn't take it because below are the 100EMA, 200EMA and a resistance. Is there any reason why it went down so quickly? I thought it was going to hold. Perhaps I should drop down to H1 when in doubt? (I don't look H1, because I can only trade H4 and higher)

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​In this another chart, the highlighted pinbar again indicated to go short, below only 200EMA. It had a good confluence, and yet it failed to go down (I took a loss here, perhaps SL too short?)
Why in this case did hold?

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Thank you very much in advance
Had to be me. Someone else might have gotten it wrong.
  • #134,899
  • May 13, 2015 12:52pm May 13, 2015 12:52pm
Quoting mordin
Hello, I have some questions about PA occurred today. In this chart, the highlighted pinbar, indicated to go short, but I didn't take it because below are the 100EMA, 200EMA and a resistance. Is there any reason why it went down so quickly? I thought it was going to hold. Perhaps I should drop down to H1 when in doubt? (I don't look H1, because I can only trade H4 and higher) {image} ​In this another chart, the highlighted pinbar again indicated to go short, below only 200EMA. It had a good confluence, and yet it failed to go down (I took...
Hi Mordin,
sometimes things don't work out as we want them to. That's just the market. But you have to believe in the methods you're using. With PA, you trade-what-you-see. Your EA pin (not showing on my chart) was off a resistance area around the 1.4100 round number. As for the moving averages, don't rely too much on them. They're great for confluence and some touch trades.

I've attached your edited chart below.
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Keeping it Simple
  • #134,900
  • May 13, 2015 12:58pm May 13, 2015 12:58pm
Quoting habeeb
{quote} Hi Mordin, sometimes things don't work out as we want them to. That's just the market. But you have to believe in the methods you're using. With PA, you trade-what-you-see. Your EA pin (not showing on my chart) was off a resistance area around the 1.4100 round number. As for the moving averages, don't rely too much on them. They're great for confluence and some touch trades. I've attached your edited chart below. {image}

Thank you very much for your answer. I rely a little on the MA, because I learned watching some J16 charts and he used them. Perhaps I should give them less priority and more to trend lines and S/R, but here I was in doubt because of the good confluence.

And yes, I also have to build more confidence, nearly everyday I let pass some good trades because I lack of confidence.

Thanks again!
Had to be me. Someone else might have gotten it wrong.
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