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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

  • #135,061
  • May 22, 2015 3:57am May 22, 2015 3:57am
Quoting habeeb
S&P500 Since making the new high 3 days ago, price has been making lower highs and lower lows. The yellow trendline is also showing good resistance...no daily close above it yet. A daily close below the 2120 level will confirm my short bias, even though I'm short already. {image}
Very nice, on my chart I don't see any clear PA to short, I will check it. I hope to see some PA short signal around the current price or around 2120.

Thanks.
Had to be me. Someone else might have gotten it wrong.
  • #135,062
  • May 22, 2015 4:15am May 22, 2015 4:15am
Hey guys,

I took a pretty big hit on my last USD/PLN short.
I'm looking at the pair still, since there looks to be a DBLHC developing on the weekly.
I'll post it's chart and the way I'll consider trading it, over the weekend.

For now I'm looking at USD/CAD confluence area for PA.
Some interesting lines there, on the H4, Daily and weekly.

Since I couldn't neatly get it into one chart, I'll throw in the *.tpl too.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD H4.jpg Size: 93 KB

Attached File(s)
File Type: tpl usdcad tpl.tpl   3 KB | 376 downloads


Happy trading all!
It's a sport, an artform and a science.
  • #135,063
  • May 22, 2015 4:43am May 22, 2015 4:43am
AUDSGD H4 / Daily

Been watching and waiting for this to breakout for a while. Good confluence. Lets see if we can get a break through.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB
Click to Enlarge Name: Screenshot2.png Size: 67 KB
  • #135,064
  • Edited 6:18am May 22, 2015 6:03am | Edited 6:18am
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H4 BEOB.jpg Size: 71 KB


{Edit: This chart is where the fibs and Pivot-area are taken from.}
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Daily.jpg Size: 74 KB


Sell on a retrace, then close if it breaks above the magenta area.
TP is quite far, but I think this one can make it, considering the overall trend.
It's a sport, an artform and a science.
  • #135,065
  • May 22, 2015 6:17am May 22, 2015 6:17am
Sold EUR-GBP at PPZ.
Stop is right above yesterdays high and
target is a new all time low, Iam not sure about the exact location yet.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 34 KB
  • #135,066
  • May 22, 2015 6:29am May 22, 2015 6:29am
Quoting Kershey
Sold EUR-GBP at PPZ. Stop is right above yesterdays high and target is a new all time low, Iam not sure about the exact location yet. {image}
Hey Kershey,

Seeing as you are in the trade, do you consider moving the stop?
I see this pair as possibly trapped in a wedge, although I think it's imperfect at best.

The pin seems to have done a great job breaking lower, but that's about the time we move the stop.
How do you plan to trade this one?

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP H4.jpg Size: 62 KB
It's a sport, an artform and a science.
  • #135,067
  • May 22, 2015 6:32am May 22, 2015 6:32am
XAU/USD Gold DBHLC H4

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSDH422515B.png Size: 34 KB
'Fail to plan, plan to fail'
  • #135,068
  • May 22, 2015 6:52am May 22, 2015 6:52am
Quoting Donaciello
{quote} Hey Kershey, Seeing as you are in the trade, do you consider moving the stop? I see this pair as possibly trapped in a wedge, although I think it's imperfect at best. The pin seems to have done a great job breaking lower, but that's about the time we move the stop. How do you plan to trade this one? {image}

Hi Donaciello,

when we get a new low today, I will TP around the 2014 low of 0.7050 (see chart) and move SL to BE.
If there is no new low i will walk away with small loss or profit before Yellen speaks.
TP at the wedge 4H TL and walk away with a nice profit for the weekend would be also an option.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily2.png Size: 35 KB
  • #135,069
  • May 22, 2015 6:57am May 22, 2015 6:57am
Quoting Kershey
{quote} Hi Donaciello, when we get a new low today, I will TP around the 2014 low of 0.7050 (see chart) and move SL to BE. If there is no new low i will walk away with small loss or profit before Yellen speaks. TP at the wedge 4H TL and walk away with a nice profit for the weekend would be also an option. {image}
If I were in the position with you, I suppose 0.71 is where I'd want to bail.
The lower bound of the wedge is not much further down, so if I were to attempt that, I'd want my SL at or beyond BE at this point.
It's a sport, an artform and a science.
  • #135,070
  • May 22, 2015 9:12am May 22, 2015 9:12am
Quoting Guitarbloke
XAU/USD Gold DBHLC H4 {image}
You trading into a support area. Hopefully it breaks.
Keeping it Simple
  • #135,071
  • May 22, 2015 12:59pm May 22, 2015 12:59pm
Quoting Donaciello
{quote} If I were in the position with you, I suppose 0.71 is where I'd want to bail. The lower bound of the wedge is not much further down, so if I were to attempt that, I'd want my SL at or beyond BE at this point.

I just closed it at 0.7110 after the 1H pinbar was forming at the 0.7100 level.
Healthy profit for the weekend & maybe there is another entry around the corner next week.
Would have taken it over the weekend with SL at BE, but the pair moved not enough for my taste
and minimizing risk (gap or imponderabilities over the weekend) is important.
Attached Image
  • #135,072
  • May 22, 2015 1:42pm May 22, 2015 1:42pm
Quoting habeeb
{quote} You trading into a support area. Hopefully it breaks.
Yeah, correct Habeeb. Gold had me under it's spell with a strong bearish surge on the H1 which sucked me into thinking I'd better jump in quick or I'd miss the train south. I am also trading into the 365 ema acting as support on my H4 chart too. This is where I need to learn patience! I think price will still move further down, but I could've been more selective with my entry point. I'm just flapping in the breeze at the moment. Gold can be a fickle and unforgiving temptress/tempter, or rather, my impatience can be.

Good job Kershey.
'Fail to plan, plan to fail'
  • #135,073
  • May 23, 2015 8:27am May 23, 2015 8:27am
Hi,

Here's USD/PLN with a huge DBLHC (Weekly).
The bar engulfs the BEOB I entered last week, which ended in a painful loss.

Attached Image (click to enlarge)
Click to Enlarge Name: USDPLN Weekly DBLHC.jpg Size: 102 KB


My plan for this is to buy on a retrace to 3.7, and TP near 3.8.
SL is going under the bar initially (3.5250); once filled it moves up to 3.6550.

I'm Doubtful whether my order is likely to be filled, given the momentum on display here.
It's a sport, an artform and a science.
  • #135,074
  • May 23, 2015 10:06am May 23, 2015 10:06am
Attached Image (click to enlarge)
Click to Enlarge Name: j16 10th anniversary.PNG Size: 20 KB


i have a feeling the new site would be on June 17th!
  • #135,075
  • May 24, 2015 5:30am May 24, 2015 5:30am
i'm back

Sorry to disappear on you all , if my girlfriends eye the last few months wasn't enough my father went into heart failure last week and it was a whirlwind week leading to him nearly passing on us to open heart surgery and release from the hospital 5 days later.

Thrilled to be back and i'll be catching up with everything this week

Mike
  • #135,076
  • May 24, 2015 5:37am May 24, 2015 5:37am
My prayers and thoughts with you Mike, I hope you get to be with them as much as possible. Family is everything!
  • #135,077
  • May 24, 2015 10:43am May 24, 2015 10:43am
Quoting mbqb11
i'm back Sorry to disappear on you all , if my girlfriends eye the last few months wasn't enough my father went into heart failure last week and it was a whirlwind week leading to him nearly passing on us to open heart surgery and release from the hospital 5 days later. Thrilled to be back and i'll be catching up with everything this week Mike

If you put as much effort into your immediate family as you do this family they are in good hands.

Brandon
  • #135,078
  • May 24, 2015 11:40am May 24, 2015 11:40am
Quoting mbqb11
i'm back Sorry to disappear on you all , if my girlfriends eye the last few months wasn't enough my father went into heart failure last week and it was a whirlwind week leading to him nearly passing on us to open heart surgery and release from the hospital 5 days later. Thrilled to be back and i'll be catching up with everything this week Mike
Hi Mike,

Some bad news... I really hope you, you're father and rest of your family will be well!
You have karma on your side!
It's a sport, an artform and a science.
  • #135,079
  • May 24, 2015 12:35pm May 24, 2015 12:35pm
I intend to get into this trade to short EUR. If it gaps down, I'll pass, but it's looking like a downtrend ret although would be nice to see it closer to the TL.

EUR is weak and after cross currency check, looks like EURCAD on weekly chart has the best looking setup, but I came across this EURNZD on the weekly. IMO NZD looks> CAD

Attached Image (click to enlarge)
Click to Enlarge Name: EURCADWeekly 05242015.png Size: 144 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDWeekly.png Size: 94 KB
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDWeekly1.png Size: 93 KB
  • #135,080
  • May 24, 2015 3:06pm May 24, 2015 3:06pm
Wishing you and your family all the very best Mike.

Greg
'Fail to plan, plan to fail'
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