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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

  • #136,161
  • Edited 11:40am Jul 29, 2015 11:24am | Edited 11:40am
GBP/JPY H1. PB Rejecting BRN 194.000 level. Bar sticking out from price, bearish close. . Looks like a PB setting up on H4 in 20 mins. which would add confluence.

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'Fail to plan, plan to fail'
  • #136,162
  • Jul 29, 2015 12:01pm Jul 29, 2015 12:01pm
GBP/CAD with a big BEOB out of a sideways pyramid, coupled with divergence (H4):


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It's a sport, an artform and a science.
  • #136,163
  • Jul 29, 2015 2:41pm Jul 29, 2015 2:41pm
Quoting Donaciello
GBP/CAD with a big BEOB out of a sideways pyramid, coupled with divergence (H4): {image}
Hey D

Been awhile since I put anything up but I saw your post

I wanted to give you some help on this and I spoke about the gbp/cad in my webinar yesterday. Here is an excerpt on the gbp/cad that you may find useful to help prevent trading that situation here. Continuation bars can trip up traders so here is a pitfall that can get you here. We may still head down but we need to get and really close with some nice structure under that swing

Inserted Video


hope it helps a bit
Mike
  • #136,164
  • Edited 8:00pm Jul 29, 2015 4:37pm | Edited 8:00pm
EUR/USD H4 BEOVB. Breaking through support PPZ and closing below 1.1000 level. Nice bar. How would you play this?

Edit: Interesting chart and observations Donaciello and Mike.

On another note. The Forex factory calendar is a bewdy! http://www.forexfactory.com/calendar.php

Gr8 reference for upcoming major news which it has listed with a red marker so it's easy to see at a glance. Top joint this one. Thanks. GB.



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Edit: Trade triggered. EUR/AUD D1 break of BEOVB. Room to fall?

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'Fail to plan, plan to fail'
  • #136,165
  • Jul 29, 2015 6:06pm Jul 29, 2015 6:06pm
Quoting Guitarbloke
EUR/USD H4 BEOVB. Breaking through support PPZ and closing below 1.1000 level. Nice bar. How would you play this? Edit: Interesting chart and observations Donaciello and Mike. On another note. The Forex factory calendar is a bewdy! http://www.forexfactory.com/calendar.php Gr8 reference for upcoming major news which it has listed with a red marker so it's easy to see at a glance. Top joint this one. Thanks. GB. {image}
Hi G,

The E/U and E/J are very similar. In regards with E/U i'd play it on retracement to 38%Fib, in my opinion 1.100 level is to shallow of the retracement to act on it, but the fact that it managed to closed below give weight to the move.

Now the open question to everyone: which one would you play e/u or e/j? (I personally think that e/j presents clearer break out of recent congestion than e/u)
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  • #136,166
  • Jul 29, 2015 6:19pm Jul 29, 2015 6:19pm
Quoting aserbfx
{quote} yes, this one is nice. see how the g/u went down before the last swing up; gaining strength. this may potentially move higher, imho.
it looks even better now ... although not such a great R:R if i'm getting the FTA right (the best would be to aim at the last low i think)
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  • #136,167
  • Jul 29, 2015 6:20pm Jul 29, 2015 6:20pm
Quoting Guitarbloke
EUR/USD H4 BEOVB. Breaking through support PPZ and closing below 1.1000 level. Nice bar. How would you play this? Edit: Interesting chart and observations Donaciello and Mike. On another note. The Forex factory calendar is a bewdy! http://www.forexfactory.com/calendar.php Gr8 reference for upcoming major news which it has listed with a red marker so it's easy to see at a glance. Top joint this one. Thanks. GB. {image}
What red marker are you talking about, GB? Nothing here.
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I entered the EUR/USD live on the 8 hour chart:
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Wow it's late. Cya later!
  • #136,168
  • Jul 29, 2015 6:35pm Jul 29, 2015 6:35pm
Quoting ziven78
{quote} Hi G, The E/U and E/J are very similar. In regards with E/U i'd play it on retracement to 38%Fib, in my opinion 1.100 level is to shallow of the retracement to act on it, but the fact that it managed to closed below give weight to the move. Now the open question to everyone: which one would you play e/u or e/j? (I personally think that e/j presents clearer break out of recent congestion than e/u) {image}
Yo Ziven. Thanks for your charts. Either pair could take off, but I like the E/U mainly because it looks more active, i.e. bigger bars. Both amongst a bit of congestion. I also like the E/U weekly chart as it stands compared to E/J W1 for bearish behaviour. I am looking to short E/U on a retrace similar to what you mentioned. Bare in mind I am still a crazy novice. GB.
'Fail to plan, plan to fail'
  • #136,169
  • Edited 7:05pm Jul 29, 2015 6:46pm | Edited 7:05pm
Quoting incognito517
{quote} What red marker are you talking about, GB? Nothing here.{image} I entered the EUR/USD live on the 8 hour chart:{image} Wow it's late. Cya later!
Hey Inco. I took a similar trade from 1.1039 and TP at 1.09750. Now that H4 BEOVB has formed, I'm considering a retrace of this bar to get short. All the best with it.

Forex calendar: See the little boxes in red? High impact news in FF's opinion, so watch for possible price spikes either way around these times. Might not matter so much if you are trading D1 or W1, M, but can make a difference on intraday. P.S. I don't take notice of news at all, except for Non farm payroll, FOMC, and some announcements like RBA news, e.g. a speech from the bank governor in 25 minutes may have a spike impact on the Aussie if I'm trading it. Otherwise, the charts have all we need.

I got a flashback to the 60's LSD days man when I saw your chart!
'Fail to plan, plan to fail'
  • #136,170
  • Jul 29, 2015 8:31pm Jul 29, 2015 8:31pm
GB I have the same thought on EUR/AUD as well. I don't know if you've done this already, but stick a monthly fib on this thing. That outside bar is sitting at a BIG 38.2 and it's right above 1.5000 . Daily divergence doesn't hurt either. AND potential weekly pinbar.
  • #136,171
  • Jul 29, 2015 9:41pm Jul 29, 2015 9:41pm
Quoting comptonfx
GB I have the same thought on EUR/AUD as well. I don't know if you've done this already, but stick a monthly fib on this thing. That outside bar is sitting at a BIG 38.2 and it's right above 1.5000 . Daily divergence doesn't hurt either. AND potential weekly pinbar.
Indeed Compton. Yes, the .38 fib on M is close to PPZ where price is rejecting. If we can close below 1.50000 BRN where price is at now, and I don't see why not, it may well be off to the races!
'Fail to plan, plan to fail'
  • #136,172
  • Jul 30, 2015 2:46am Jul 30, 2015 2:46am
Quoting ziven78
{quote} it looks even better now ... although not such a great R:R if i'm getting the FTA right (the best would be to aim at the last low i think) {image}
Hi Z.
i was going to take GU, but the only thing that bothers me was 1.5550 as you put a line on that. i'll wait for break of trend line and 1.55 for safer entry. take care
  • #136,173
  • Jul 30, 2015 3:14am Jul 30, 2015 3:14am
Quoting Reza.glm
{quote} Hi Z. i was going to take GU, but the only thing that bothers me was 1.5550 as you put a line on that. i'll wait for break of trend line and 1.55 for safer entry. take care
Hi Reza,

I was thinking to get down to H1 and play it for smaller profits:

1. short on retrace (kind a right shoulder H1 = left eye of the PB on D1)
2. wait for D1 PB break and short on retrace on H1

hope it make sense
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  • #136,174
  • Jul 30, 2015 4:19am Jul 30, 2015 4:19am
Sold D1 kiwi with 4H outside bar entry.
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  • #136,175
  • Edited 6:59am Jul 30, 2015 5:31am | Edited 6:59am
Nice Kershey. You would be in profit.

Edit: GBP/JPY Stopped out for a loss.


I was doing some reading and found this, so thought I'd share it. It can relate to trading and inner freedom and peace. Not sure of the original source, FF Merlin or the storybook/movies.

The best thing for being sad," replied Merlin, beginning to puff and blow, "is to learn something. That's the only thing that never fails. You may grow old and trembling in your anatomies, you may lie awake at night listening to the disorder of your veins, you may miss your only love, you may see the world about you devastated by evil lunatics, or know your honour trampled in the sewers of baser minds. There is only one thing for it then to learn. Learn why the world wags and what wags it. That is the only thing which the mind can never exhaust, never alienate, never be tortured by, never fear or distrust, and never dream of regretting. Learning is the only thing for you. Look what a lot of things there are to learn.
'Fail to plan, plan to fail'
  • #136,176
  • Jul 30, 2015 6:30am Jul 30, 2015 6:30am
Quoting Guitarbloke
Nice Kershey. You would be in profit...
Yeah, indeed. It may move further but did cut it out at BRN 0.6600 before US GDP release.
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  • #136,177
  • Edited 8:19am Jul 30, 2015 7:31am | Edited 8:19am
Quoting mbqb11
{quote} Hey D Been awhile since I put anything up but I saw your post I wanted to give you some help on this and I spoke about the gbp/cad in my webinar yesterday. Here is an excerpt on the gbp/cad that you may find useful to help prevent trading that situation here. Continuation bars can trip up traders so here is a pitfall that can get you here. We may still head down but we need to get and really close with some nice structure under that swing https://youtu.be/BI_eRFaudKc hope it helps a bit Mike

He Mike,

I replied to your post by PM yesterday, but I've been thinking about what you said in that webinar, about the imperfect support-zones being good area's to watch for fake-outs.

I was going over the H4 charts just now, seeing how that G/C play turned out and it's a good thing I got out.
Moving on, a chart you put up lately (NZD/CHF) cought my eye, especially given what you spoke about in your webinar.

Would this indeed be a similar situation as the GBP/CAD setup?
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As I was just typing this post, a wick pierced the (imperfect) support zone; I'm looking for the H1 to paint a bulish PB.
> UPDATE: Not the kind of H1 PB I'd like to trade, perhaps something develops later-on; I'll keep watching.
It's a sport, an artform and a science.
  • #136,178
  • Jul 30, 2015 8:40am Jul 30, 2015 8:40am
Quoting Guitarbloke
EUR/USD H4 BEOVB. Tight stop low risk. Moving down nicely. {image}
well done, nice reaction off 136.50 on e/j as well.
  • #136,179
  • Edited 9:51am Jul 30, 2015 9:50am | Edited 9:51am
Hey guys,


Here's a setup I'm looking at (AUD/CAD H1)
The broader location has been posted here numerous times, but I'm going to do it once more.

Daily:
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H4 perspective:
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H1 aggregated H4 BUOB:
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I'm looking for a strong bullish close here, to buy at a retrace back to the purple line.
It's a sport, an artform and a science.
  • #136,180
  • Jul 30, 2015 9:53am Jul 30, 2015 9:53am
Quoting Donaciello
Hey guys, Here's a setup I'm looking at (AUD/CAD H1) The broader location has been posted here numerous times, but I'm going to do it once more. Daily: {image} H4 perspective: {image} H1 aggregated H4 BUOB: {image} I'm looking for a strong bullish close here, to buy at a retrace back to the purple line.

I'm eyeing this one too. If you pull up a monthly fib, a 38.2 aligns with .94000 almost to the pip. Waiting for confirmation.
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