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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

  • #139,341
  • Jul 5, 2016 2:43am Jul 5, 2016 2:43am
Quoting Scharlotte
{quote} looking at the weekly chart seems the market has been doing nice low and lower lows this would mean that its moving in a down trend but i can see a divergence forming which indicates the end of the down trend, looking at the 4h and the 5min such a nice pattern that has formed i see a head and shoulder pattern there my advice would be to wait for the hook and the sell in this case try using fibs to see the reversal points
Thanks Scharlotte for your response, I reallt appreciate it. Actually the senerio is that I am trading this based on the fact that I have spotted the W1 pinbar, that means that the H4 BEOB you referred to is within the week of the pinbar.Also look at what price did at the 0.97000 I was referring to as in the chart here.
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  • #139,342
  • Jul 5, 2016 3:23am Jul 5, 2016 3:23am
Another clarification I had wanted to ask for yesterday is regarding the two H1 bars I have indicated with an arrow in the chart below. Can one consider them to make up a H2 pinbar (i.e when combined?). The open of the bullish bar is 0.97440 while the close of the bearich candle is 0.97445 meaning there is a 5pips difference.So can I take that to be a pinbar? I asked because that kind of provided another opportunity to have enterred the trade if it were indeed a pinbar (or so I think).
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  • #139,343
  • Edited 4:39am Jul 5, 2016 4:20am | Edited 4:39am
Quoting jeffokes
Another clarification I had wanted to ask for yesterday is regarding the two H1 bars I have indicated with an arrow in the chart below. Can one consider them to make up a H2 pinbar (i.e when combined?). The open of the bullish bar is 0.97440 while the close of the bearich candle is 0.97445 meaning there is a 5pips difference.So can I take that to be a pinbar? I asked because that kind of provided another opportunity to have enterred the trade if it were indeed a pinbar (or so I think). {image}
Yes Jeff. In fact i took just that trade/set up yesterday.
Edit: Oops, I mean same trade set up on AUD/NZD H1 not U/C, but pretty much identical.
'Fail to plan, plan to fail'
  • #139,344
  • Jul 5, 2016 6:45am Jul 5, 2016 6:45am
Hello guys,

I am a new here, and i would thank you all for your help and contributions.
I have a question here please, can we consider the following trade as a valid one (last one) ?
TF = 12 hours on AUDUSD , i can see that the price is bouncing from a Resistance area with a DBHLC ? also you can see where I am adding my SL and TP (i am getting my TP in a stages not all on one)

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  • #139,345
  • Jul 5, 2016 8:16am Jul 5, 2016 8:16am
Quoting mjadid
Hello guys, I am a new here, and i would thank you all for your help and contributions. I have a question here please, can we consider the following trade as a valid one (last one) ? TF = 12 hours on AUDUSD , i can see that the price is bouncing from a Resistance area with a DBHLC ? also you can see where I am adding my SL and TP (i am getting my TP in a stages not all on one) {image}
Looks promising Mjadid. DBHLC is correct. Did u enter on the red dash line? I am short this pair too. Good luck. GB.
'Fail to plan, plan to fail'
  • #139,346
  • Jul 5, 2016 9:10am Jul 5, 2016 9:10am
Quoting Guitarbloke
{quote} Looks promising Mjadid. DBHLC is correct. Did u enter on the red dash line? I am short this pair too. Good luck. GB.
Hello Guitarbloke, thanks for the reply, actually i have waited for a confirmation, so i have entered when the price broke the 1 previous candle low.
  • #139,347
  • Jul 6, 2016 8:02am Jul 6, 2016 8:02am
Hello guys,

I believe that we have a new opportunity on USDCHF TF:4-6-8-12 & Daily.
We have a nice Resistance area + engulfment bar on 4-6-8-12 hours and if we checked the daily then we are getting a nice pin bar.
What do you think ? is a valid trade?

This is a 12hours chart:

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You can also check lower TF and we will have the same. maybe if we can enter on the retracement then we can achieve a 2 Risk reward ratio.
  • #139,348
  • Jul 6, 2016 11:11am Jul 6, 2016 11:11am
Quoting mjadid
Hello guys, I believe that we have a new opportunity on USDCHF TF:4-6-8-12 & Daily. We have a nice Resistance area + engulfment bar on 4-6-8-12 hours and if we checked the daily then we are getting a nice pin bar. What do you think ? is a valid trade? This is a 12hours chart: {image} You can also check lower TF and we will have the same. maybe if we can enter on the retracement then we can achieve a 2 Risk reward ratio.
How would u trade it? Retracement to where?
'Fail to plan, plan to fail'
  • #139,349
  • Jul 6, 2016 3:40pm Jul 6, 2016 3:40pm
UsdChf Daily

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  • #139,350
  • Jul 6, 2016 8:35pm Jul 6, 2016 8:35pm
Only trade i'm in at the moment. Haven't really had a chance to add to it as it's quite indecisive!
This trade based on a breakout of the TL and then retrace and bounce down off of same TL. Despite the general sideways-ness, upward TL and some support, the BIG bearish bar(s) from a week or so ago indicate to me bearish sentiment over the coming weeks.

Short term i think it's steady or upward, may even get to the TL again. Hope i'm wrong and it plummets...
Happy trading all
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  • #139,351
  • Jul 7, 2016 7:21pm Jul 7, 2016 7:21pm
So CAD/JPY from yesterday is trucking along ok.

Got into a new trade late Thursday.
AUD/NZD 2-week BEOB. Got quite a bit of the retrace.
Interesting that there is a possible PB forming on the weekly AND a 2-day BEOB on the daily (see charts below). This thing could be headed lower over the coming weeks but we'll see what Friday brings us. Looking at the D1, it seems logical there will be a retrace of that same BEOB, possibly even as far as my trailing SL
Regardless i will be looking to add-on or re-enter soon. All fun and games. Enjoy your weekend all.
Bill
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  • #139,352
  • Jul 8, 2016 2:49am Jul 8, 2016 2:49am
@Bill I have been looking for an entry there on the 4 hour for a good few weeks now, typically it came was I was sick! Identical TP as well by the look of it - I was after 1.0033 or so. Looking back at your posts it seems like I'm looking at similar opportunities as you, so I'm encouraged by that.

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When you mention adding to them how do you do this? Equity millipede style?

AUD/NZD is also at a interesting (long term) level - also starting to show weakness on the lower timeframes.
  • #139,353
  • Jul 8, 2016 6:49am Jul 8, 2016 6:49am
Quoting dave0
Looking back at your posts it seems like I'm looking at similar opportunities as you, so I'm encouraged by that.
Hey Dave. Trading in a similar way to me?... that could be your downfall !


Quoting dave0
When you mention adding to them how do you do this? Equity millipede style?
Adding-on is simply increasing my position in a trade. For example with AUD/NZD i am looking for more price action to show/confirm its further downward movement and if it does i'll short again. That's why i mentioned the W1 possible pinbar (not yet confirmed) as this is a signal of likely further downward-ness and a chance to short another 0.10 lots... then maybe another 0.10 lots etc.


Quoting dave0
AUD/NZD is also at a interesting (long term) level - also starting to show weakness on the lower timeframes.
Yes 1.03000 is interesting, it's support at the moment (see chart below). If it breaks that next week, then i will be looking to add-on possibly at a retrace back up to that 1.03000 area. It's late here and i've had a few Beers so i hope my explanations are making sense

Bill
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  • #139,354
  • Jul 11, 2016 4:44am Jul 11, 2016 4:44am
Morning Bill, I think I see what you are saying. You would need to see a break of 1.03 and retest to short again. Would an new entry of the bottom of this box be too close to the previous one?

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I made a mistake in the last post, I meant to say that NZD/USD (rather than AUD/NZD) was at a interesting long term level, eg 0.725 / 0.73 was support the first 3 months of 2015, before breaking lower in May. Then June this year being it's first time back to that level.
  • #139,355
  • Jul 11, 2016 6:09pm Jul 11, 2016 6:09pm
Quoting dave0
Would an new entry of the bottom of this box be too close to the previous one?
Absolutely not! In fact i am looking to short again around this area because it is a retrace of the newly formed W1 PB / BEOB.

Quoting dave0
I made a mistake in the last post, I meant to say that NZD/USD (rather than AUD/NZD) was at a interesting long term level, eg 0.725 / 0.73 was support the first 3 months of 2015, before breaking lower in May. Then June this year being it's first time back to that level.
Ok, interesting historical levels as you say for N/U. For me on my feed i see little to get excited about. Perhaps post a chart with your trade analysis/thoughts.

I am monitoring 3 other pairs very closely. When i get time later today i will post them, they might be of interest
  • #139,356
  • Jul 12, 2016 9:37pm Jul 12, 2016 9:37pm
Some possibles...
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  • #139,357
  • Jul 13, 2016 5:45am Jul 13, 2016 5:45am
NZD/CAD 1H the price is in a box situation i will wait for price action at the bottom or the top of the box

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  • #139,358
  • Jul 14, 2016 10:50am Jul 14, 2016 10:50am
Quoting florinellz
NZD/CAD 1H the price is in a box situation i will wait for price action at the bottom or the top of the box {image}
I have traded break out of that box. H4 BEOB did not close as low as I would like to though. Because of that, I have traded break out of the BEOB to avoid getting in a box again.
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  • #139,359
  • Jul 14, 2016 2:23pm Jul 14, 2016 2:23pm
Quoting Jsbs
{quote} I have traded break out of that box. H4 BEOB did not close as low as I would like to though. Because of that, I have traded break out of the BEOB to avoid getting in a box again. {image}
great trade Jsbs i took the BEOB from daily because i didn't have acces to platform when the 4H BEOB bar was formed

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  • #139,360
  • Jul 14, 2016 5:49pm Jul 14, 2016 5:49pm
yea this daily beob get a really nice momentum
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