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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

  • #137,981
  • Edited Dec 27, 2015 8:21am Dec 26, 2015 5:11pm | Edited Dec 27, 2015 8:21am
usdchf d1 setup
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  • #137,982
  • Dec 27, 2015 12:05pm Dec 27, 2015 12:05pm
Wheat on weekly support
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  • #137,983
  • Dec 28, 2015 11:03am Dec 28, 2015 11:03am
GBPJPY intraday trade , profits locked.

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  • #137,984
  • Dec 28, 2015 2:00pm Dec 28, 2015 2:00pm
Same to you Inco and Mike, thanks, and seasons greetings to all.

GBP/USD H4 DBHLC. looking for profit near the weekly lows around 1.46520.

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'Fail to plan, plan to fail'
  • #137,985
  • Dec 28, 2015 10:04pm Dec 28, 2015 10:04pm
Just back from a small break and going on another one shortly but i just can't stay away from this thread for tooooo long. Thanks Mike and Inc for the kind wishes.

Quoting Guitarbloke
Same to you Inco and Mike, thanks, and seasons greetings to all. GBP/USD H4 DBHLC. looking for profit near the weekly lows around 1.46520. {image}
GB, my feed shows this pair in a general downward trend but coming up off of the "support" line. To get to the 46's it would have to have a solid breakout south or with time probably get there eventually anyway. Good luck! Bill
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  • #137,986
  • Dec 29, 2015 1:06am Dec 29, 2015 1:06am
Quoting CapitalInves
Natgas on daily resistance {image}
Hello. On the monthly timeframe formed Pin Bar of a good resistance. What do you think?
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  • #137,987
  • Dec 29, 2015 3:30am Dec 29, 2015 3:30am
Quoting incognito517
Merry Christmas to all my friends on the private and public forum; have a fabulous day you guys. James, firstly thank you! .... Bottoms up...{image}{image}
Looking for more pictures ))
  • #137,988
  • Dec 29, 2015 3:20pm Dec 29, 2015 3:20pm
Today on intraday AUDUSD. Profits locked.

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  • #137,989
  • Dec 29, 2015 4:56pm Dec 29, 2015 4:56pm
Quoting Bill618
Just back from a small break and going on another one shortly but i just can't stay away from this thread for tooooo long. Thanks Mike and Inc for the kind wishes. {quote} GB, my feed shows this pair in a general downward trend but coming up off of the "support" line. To get to the 46's it would have to have a solid breakout south or with time probably get there eventually anyway. Good luck! Bill {image}
Right on Bill. I would usually set my TP at the first TA or where price would likely reverse for a bit (which would've given 100 odd pips in this case), but I can be a little ambitious. In profit and at BE now, and will look to TP around the 1.4800 zone and get in again later if it heads lower. I look for around 100 pip trades and where possible let them run. This sometimes means being stopped out with a locked in profit of 50 pips or so and that's fine.

GBP/USD H4 DBHLC.

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EUR/USD D1. DBHLC. Looking to move SL tighter if/when trade moves down.

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'Fail to plan, plan to fail'
  • #137,990
  • Dec 29, 2015 6:32pm Dec 29, 2015 6:32pm
selling a bearish bar in the middle of nowhere?
  • #137,991
  • Edited Dec 30, 2015 12:21am Dec 29, 2015 6:44pm | Edited Dec 30, 2015 12:21am
I didn't think I would trade this week....
....just one!

D1 CAD/CHF DBLHC coming off support/TL. Now a BUOB has formed also.
Will trail my stop up if possible. At BE now and hoping to reach the 90pip target.

@GB, that's nice profit at 1.48000, great trading.

UPDATE: Sold this one for 45pip profit because i'm expecting a retrace of the newly formed BUOB and I may buy back in then.
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  • #137,992
  • Dec 29, 2015 7:11pm Dec 29, 2015 7:11pm
Quoting balloontree
selling a bearish bar in the middle of nowhere?
It appears that way Balloon. But upon closer inspection I note price rejecting 1.10000 BRN, near a swing high, and previous bearish event area in long term downtrend. Price is also trading in a box, so I'm looking to TP at bottom of it. Price may well keep moving sideways but I thought it worth a crack. Look forward to seeing some trades from you in the new year friend. All the best, GB.

Looks like you are in profit there Bill!
'Fail to plan, plan to fail'
  • #137,993
  • Dec 29, 2015 11:00pm Dec 29, 2015 11:00pm
Quoting Guitarbloke
{quote} It appears that way Balloon. But upon closer inspection I note price rejecting 1.10000 BRN, near a swing high, and previous bearish event area in long term downtrend. Price is also trading in a box, so I'm looking to TP at bottom of it. Price may well keep moving sideways but I thought it worth a crack. Look forward to seeing some trades from you in the new year friend. All the best, GB. Looks like you are in profit there Bill!

There's no space to move downwards. And maybe selling at 1.1? 150ema is around the corner.
  • #137,994
  • Edited 12:24am Dec 30, 2015 12:03am | Edited 12:24am
CHF/JPY box breakout. On the lower TF's, resistance has been tested a few times now so a Sell order placed on a retrace (a little late getting on this one so sell price not as high as i would have liked). My 1:4 RR may be a little ambitious but i'm always open for negotiation....
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  • #137,995
  • Dec 30, 2015 2:18am Dec 30, 2015 2:18am
Quoting Bill618
CHF/JPY box breakout. On the lower TF's, resistance has been tested a few times now so a Sell order placed on a retrace (a little late getting on this one so sell price not as high as i would have liked). My 1:4 RR may be a little ambitious but i'm always open for negotiation.... {image}

I don't get it, why is this consider an important level? 121.50

The previous bars suggested that there are 4 different levels, meaning the previous bars did not align themselves to such an extent where anyone could have seen that there's only one level that it broke?............
  • #137,996
  • Dec 30, 2015 2:28am Dec 30, 2015 2:28am
XAU/USD D1 DBHLC/IB Combo. If price can break through 1065.00 area we might be off to the races.

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'Fail to plan, plan to fail'
  • #137,997
  • Dec 30, 2015 2:33am Dec 30, 2015 2:33am
Quoting balloontree
{quote} There's no space to move downwards. And maybe selling at 1.1? 150ema is around the corner.
EUR/USD. Thanks friend. If we can break 1.09000 area I see space enough for profit. It may well rocket north too.
'Fail to plan, plan to fail'
  • #137,998
  • Dec 30, 2015 2:37am Dec 30, 2015 2:37am
Quoting Guitarbloke
{quote} EUR/USD. Thanks friend. If we can break 1.09000 area I see space enough for profit. It may well rocket north too.

but 1.09 is the mid level of the ppz? so that's why there's no room to move? no room for your stop loss to move to a profitable area?
  • #137,999
  • Dec 30, 2015 4:08am Dec 30, 2015 4:08am
Quoting balloontree
{quote} I don't get it, why is this consider an important level? 121.50 The previous bars suggested that there are 4 different levels, meaning the previous bars did not align themselves to such an extent where anyone could have seen that there's only one level that it broke?............

Hi balloon,

I believe that there is a resistance area around the 121.50 - 121.70. Are these significant numbers?.... Nope. Meaningless numbers where price is hitting a wall. I believe support has now turned into resistance around that area. Question is, how strong is that wall....

Not all price reversals or price accelerations occur at RN's or BRN's. With the 1hr chart below i have zoomed in to better see the resistance area (around the orange horizontal line). On the 4hr chart I posted earlier, there is not bar after bar hitting the same number within a few pips but for me when I observed some of the lower TF's (such as the 1hr) there was enough evidence of resistance.

I was simply observing price action however having said that, i may be wrong about my analysis. I've been wrong before - just ask my Wife
I am a relative novice at this and learn something new everyday. As of this moment, i'm expecting price to bounce off of this resistance and head south. But who knows....

I'm off to sleep now. Ni Nite all
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  • #138,000
  • Dec 30, 2015 5:02am Dec 30, 2015 5:02am
Quoting Bill618
{quote} Hi balloon, I believe that there is a resistance area around the 121.50 - 121.70. Are these significant numbers?.... Nope. Meaningless numbers where price is hitting a wall.

But hitting the wall is only one point. Better to gather more points to make a trade, I think.

1) in the 4 hour (or 1 hour) chart, it's not consider a strong SR line; only one recent bar has reacted to it
2) bearish outside bar; the upper wick of the bearish bar and the one before it are in line
3) if treating the bearish outside bar alone, maybe should sell at price retracement to the 50% of the bearish bar?
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