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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

  • #138,341
  • Jan 21, 2016 3:51pm Jan 21, 2016 3:51pm
Quoting Bill618
GB, Adhav and swTrue, thank you for the feedback, very much appreciated! I see the damn thing did bounce down to near my original target whilst i slept. If only i had placed my S/L at the top of the bar. Only a few days ago i watched a Video of Jims about PB's and some of them were only small wicks, some bearish ones didn't even close bearish (and vice versa) but they worked seemingly because of the location. swTrue, i see exactly what you are saying and your analysis has really helped me. I need to be more careful about the exact location! Bill...
Glad to be of help Bill, keep at it!

Just a thought, something that helps me personally, draw your important areas, PPZs, TLs, BRN etc BEFORE you start looking for a trade. It really helps me remain objective. I find that if I scan my charts for price action I'm more tempted to mark a PPZ that matches the price action so I can look to trade it whereas if I draw my important levels FIRST and then WAIT for price to come to me I'm planning my trade out.
  • #138,342
  • Jan 21, 2016 4:37pm Jan 21, 2016 4:37pm
Short in stocks,
but feel not confident with a short position in the overall situation in equities.
Small profit, should have let the other half run,
maybe reentry.
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  • #138,343
  • Jan 21, 2016 4:43pm Jan 21, 2016 4:43pm
Quoting swTrue
{quote} Glad to be of help Bill, keep at it! Just a thought, something that helps me personally, draw your important areas, PPZs, TLs, BRN etc BEFORE you start looking for a trade. It really helps me remain objective. I find that if I scan my charts for price action I'm more tempted to mark a PPZ that matches the price action so I can look to trade it whereas if I draw my important levels FIRST and then WAIT for price to come to me I'm planning my trade out.
Funny you should say that because since the start of 2016 i have noticed myself doing just that more and more, like unconsciously. Perhaps that is why it has been a good start to the year for me. I will be more conscious of it now too.
Cheers big ears
  • #138,344
  • Jan 22, 2016 2:37am Jan 22, 2016 2:37am
Quoting alphac
{quote} Certainly worth keeping an eye on the top line, the 2.20 BRN is in there to. It's in a longer term down trend, there is divergence on the weekly though.
i will
  • #138,345
  • Jan 22, 2016 1:56pm Jan 22, 2016 1:56pm
He guys,

Hope you had a good week!

Here's some possible action in the CAD for next week, to keep an eye on.

USD/CAD:
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I'm looking PA to confirm a bullish continuation off of the confluence area around 1.375

EUR/CAD:
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Beautiful BEOB @ swing high, which I can hopefully sell at a retrace and TP at the monthly open (1.50136).


Still 2h to the weekly close, so I just hope it stays tradeble.

Have a nice weekend!
It's a sport, an artform and a science.
  • #138,346
  • Jan 22, 2016 11:57pm Jan 22, 2016 11:57pm
Still lurking after all of these years..... Its been so long since I posted I can't remember how to post a new thread so I'm replying to the most recent post with a recent CAD JPY trade. Long as of the break of the daily pin off a BRN. I've gotten better in holding trades over the years and whilst I sold twice at resistance (and a bit more just before the CAD news yesterday) I'm still in this trade. Been moving the stop up.

Anyway thanks all to for this awesome site and learnt a lot in my early days, particularly being patient (almost there now) and sticking to dailys.

Cheers all.
G-man.
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  • #138,347
  • Edited 1:52am Jan 23, 2016 1:30am | Edited 1:52am
Could we be seeing EUR strength and YEN weakness next week .. Time Will tell ..
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  • #138,348
  • Jan 23, 2016 3:22am Jan 23, 2016 3:22am
Quoting Danku
Could we be seeing EUR strength and YEN weakness next week .. Time Will tell .. {image}
i think so too, good luck
  • #138,349
  • Jan 24, 2016 2:26pm Jan 24, 2016 2:26pm
Quoting Grousman
Still lurking after all of these years..... Its been so long since I posted I can't remember how to post a new thread so I'm replying to the most recent post with a recent CAD JPY trade. Long as of the break of the daily pin off a BRN. I've gotten better in holding trades over the years and whilst I sold twice at resistance (and a bit more just before the CAD news yesterday) I'm still in this trade. Been moving the stop up. Anyway thanks all to for this awesome site and learnt a lot in my early days, particularly being patient (almost there now)...
Great trade G-man, 300+ pips and counting. Unless there is some negative fundamental news, i don't see anything in the way until it hits the yellow line either? Sweet

So you only trade the D1 charts but do you look at other T/F's for confluence or entry signal or any reason?
Bill
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  • #138,350
  • Jan 24, 2016 3:21pm Jan 24, 2016 3:21pm
I don't post every chart/trade i'm interested in but in the interest of variety i thought this long term trade idea might be of interest.
Have i said the word 'interest' enough for you? Or are you just not interested...

AUD/SGD Weekly. A big strong 2-week BEOB. Downtrend currently in a 'resting' phase. Blue line representing the retrace area before possibly the move down (of course it could bounce around in the box for a while instead). The smart play most likely would be to wait for a confirmation BO of support line.
Isn't the SGD linked to Oil?.... and if Oil has a solid run upward over the next 12 months like some are predicting (even doubling as they say), i can see this pair moving down 1500/2000 pips from here. Yeah maybe that's not a lot of pips over 12 months but i'm tempted to invest a small amount and stick it in the drawer and forget about it for a long while, let it do its thing, for interests sake. .
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  • #138,351
  • Jan 24, 2016 4:34pm Jan 24, 2016 4:34pm
Any thoughts on how to trade this possible pin in stocks (SP500) ?
The W1 close is also above 1900.
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  • #138,352
  • Jan 25, 2016 12:52am Jan 25, 2016 12:52am
Quoting Bill618
{quote} Great trade G-man, 300+ pips and counting. Unless there is some negative fundamental news, i don't see anything in the way until it hits the yellow line either? Sweet So you only trade the D1 charts but do you look at other T/F's for confluence or entry signal or any reason? Bill {image}
Thanks Bill. Barring news I think 85 is the next hurdle. Pull up a weekly and look at c March 2012 and you'll see what I mean. After that its your yellow line.

I trade good setups on 4H & D. A 1H has to be truly awesome for me to look at it. I made the mistake of overtrading early as I wanted to be a "trader". My most consistent trades have been the 4H & D. Obviously with the D you generally need a bigger stop. What really works for me now is to open my charts in the morning and have a quick (roughly 3 seconds) look at each chart. I find good bars generally "leap out at me". If they do (like this one and the EURCAD D last week & the USDJPY a couple weeks ago ) I flag them, finish a quick scan of the rest and go back for more analysis. I do this on the D and 4H. If I'd listened more to people on here and traders I know I would have made more money over the years. Let alone saved a lot of angst and emotion! I'm sure people on here have made the comment around patience a million times and I swear that's the number one thing that's worked for me for the last few years. Lastly, once I find something I like I give the trade "room to breathe" (I think Mike on here taught me that) and when considering a trade I now think of why I should not take the trade as opposed to convincing myself as to why I should.

Anyway, sorry for the long-winded answer but I'd like to contribute on here a bit more given how much this site (and practice) has helped over the years. All the best for now & let me know if I need to clarify anything.
  • #138,353
  • Edited 4:59am Jan 25, 2016 2:34am | Edited 4:59am
GBP/JPY H1 PB. Late entry, missed damn retrace. But making some pips so ok. TP target 150 ema/168.000 area.

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GBP/CHF H1 IB cluster. Price breaks away for a few pips. Entry below BRN 1.45000

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GBP/USD H4 DBHLC

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'Fail to plan, plan to fail'
  • #138,354
  • Jan 25, 2016 7:05am Jan 25, 2016 7:05am
Quoting Guitarbloke
GBP/JPY H1 PB. Late entry, missed damn retrace. But making some pips so ok. TP target 150 ema/168.000 area. {image}
Hello GB,
Did you enter on breakout of the short consolidation ?

Cheers.
  • #138,355
  • Jan 25, 2016 2:23pm Jan 25, 2016 2:23pm
Quoting Grousman
{quote} Thanks Bill. Barring news I think 85 is the next hurdle. Pull up a weekly and look at c March 2012 and you'll see what I mean. After that its your yellow line. I trade good setups on 4H & D. A 1H has to be truly awesome for me to look at it. I made the mistake of overtrading early as I wanted to be a "trader". My most consistent trades have been the 4H & D. Obviously with the D you generally need a bigger stop. What really works for me now is to open my charts in the morning and have a quick (roughly 3 seconds) look at each chart. I find...
Cheers Gman. I believe your cad/jpy will very soon move north again, after finishing its retrace of the nice weekly buob coming off a clear support area which i'm sure you are aware of (see chart below - ignore blue areas as they relate to lower T/F's). I have an alert in place myself Have a good one!
Bill
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  • #138,356
  • Edited 3:08pm Jan 25, 2016 2:32pm | Edited 3:08pm
AUD/CHF 4H PB off of PPZ and top of channel.
Come on fella, you can breakthrough that little support area

EDIT: WIPG? - Target hit virtually to the pip before it bounced. Will keep an eye on this pair for more shorts from at or near resistance area.
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  • #138,357
  • Jan 25, 2016 3:27pm Jan 25, 2016 3:27pm
Quoting vanilla.sky
{quote} Hello GB, Did you enter on breakout of the short consolidation ? Cheers.
Hi VS. I entered purely on that bearish PB at a swing high after it closed below BRN 170.000 with overall down trend. I am out of trade now as price hit my SL for a 50 pip profit. Looks like it will move down a little more yet, but this is a crazy pair!

Good job Bill! I agree, that CAD/JPY W1 bar has got legs.

GB

NZD/USD H4 BEOVB. Moving down nicely so far. Will move s/l down soon.

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'Fail to plan, plan to fail'
  • #138,358
  • Edited Jan 26, 2016 3:02am Jan 25, 2016 8:24pm | Edited Jan 26, 2016 3:02am
Thanks GB. Yes it's been a very good start of the year, for you as well i think.
I'm also in on the Weekly NZD BEOB's downtrend but with CAD. I just believe the CAD is in for an upsurge.

I took a 60 pip profit from the AUD/CHF PB today and now i'm trying to do it again - but in reverse! Small stop, BUOB on H1 plus a support area = worth trading. If all goes well i will take half profit at green line (first trouble) and move S/L to BE.
See what happens....

EDIT: Soon after placing this trade i realized that the PB was really just too small especially compared to the bars all around but the big thing i missed earlier was the very nice DBHLC preceding it. DOH! After seeing the nice retrace i closed my PB order for a small loss and placed a sell order instead on a sizeable break of the (dbhlc) bar bottom (see bottom chart). So far so good but to be honest i'm all a bit confused now as to what this pair wants to do in the short term. It looks bearish to me!

EDIT 2: Out at BE. I moved S/L to BE very quickly as i was completely unsure as to what was happening short term with this pair. Now it is possible that a bigger bullish PB will develop on the 4h (see 3rd chart below). I seem to have gotten into a whirlpool with this pair so i think i will give it away for now hehe
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  • #138,359
  • Edited 10:17am Jan 26, 2016 12:20am | Edited 10:17am
Quoting Kershey
Any thoughts on how to trade this possible pin in stocks (SP500) ? The W1 close is also above 1900. {image}
Looks like it wants to go up Kershey. How u trade it is up to you of course. Retrace to low of previous bar which would give u a tighter SL? Enter on lower TF for tighter SL? All the best.

CAD/JPY H4 DBHLC. Yes Bill, good start to the year here too. I'm taking this pair short to appx. 50% level of W1 BUOVB then will look to buy from there if price wants to go up. That's my theory for now anyway! :nerd:

Update: closed trade for 40 pip profit as price stalled and may be turning north. If so i'll consider entering again long.

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AUD/JPY H1 IB. Price broke above weekly level. Target daily highs.

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Update: AUD/JPY H1 Bam! target hit. set and forget trading. Goodnight Irene.

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'Fail to plan, plan to fail'
  • #138,360
  • Edited 3:46pm Jan 26, 2016 11:02am | Edited 3:46pm
Quoting Guitarbloke
{quote} Looks like it wants to go up Kershey. How u trade it is up to you of course. Retrace to low of previous bar which would give u a tighter SL? Enter on lower TF for tighter SL? All the best. CAD/JPY H4 DBHLC. Yes Bill, good start to the year here too. I'm taking this pair short to appx. 50% level of W1 BUOVB then will look to buy from there if price wants to go up. That's my theory for now anyway! :nerd: Update: closed trade for 40 pip profit as price stalled and may be turning north. If so i'll consider entering again long. {image} AUD/JPY...

He GB,

I'm still in on AUDJPY, but with a weekly entry:

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Also, EUR/CAD:

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Update: Closed both for a combined .5% profit (about 1/3 risk), because EURCAD bounced off the weekly low and AUDJPY didn't break the high of the weekly BUOB. The week is ofcourse far from over, but with FOMC & Fed Funds Rate tomorrow, I want to be out of these 'Risk-on' trades
It's a sport, an artform and a science.
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