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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

  • #70,201
  • Edited 1:27am Jul 30, 2010 1:15am | Edited 1:27am
Quoting six gun
Well this is my thinking.
The trend is UP.
I assume you are short following the swing high pin bar.
The last time price go up to this level it retreated to 0.6600.
Now that would be some profit!
My trend line is not sitting perfectly on the up trend but in the previous retracements it does get down to the trend line.

In the previous uptrend price broke the trend line and went down quite hard.
There then appears to have been a gap up.
The gap was closed as would be expected and then price hammered on down.

The key to suspecting the down move was...
Yes, I agree, but it may move to 7150 before bouncing as that first support TL seems to be breaking down.

I'm thinking cash in for now or wait for 7150, then cash in and wait for the next pull back.

You could see what happens today/monday on the pullback to 7240 before deciding.

When both trends line up (as well as PA) i.e. Weekly down trend and Daily becomes a down trend once that up trend(s) are broken that is most likely when it will run.

We may get a H&S pattern form, so if you can pick an entry on the RH shoulder that would be great.....but we will see what happens.
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In retrospect we learn. In perspective we earn.
  • #70,202
  • Jul 30, 2010 1:20am Jul 30, 2010 1:20am
Quoting aserbfx
there is something brewing on usd/cad.
some inside bars waiting for a break...

Yes, I was just watching this as you posted.

I had learned that the long consecutive wicks underneath suggest a bullish breakout. Not so sure if this is factual or not though?
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  • #70,203
  • Jul 30, 2010 2:09am Jul 30, 2010 2:09am
Pinbar,
based on your chart & aserbfx's, the lower wicks are not too long. compare the wicks here (chart on #70059). the longer the wick, the better.

having said that, if price cant drop to 1.0300-50 or below, this chart looks bullish to me. towards 1.0400, & perhaps 1.0500.
Let's see
  • #70,204
  • Jul 30, 2010 2:56am Jul 30, 2010 2:56am
Morning all,
I just wanted to share my short gj short trade, I missed 2 x Pin bars on the 4 hour !! but managed to hop on board following an inside bar. I'm so please with the j16 material. it's given me a lot more confidence all be it on a micro account . I attach chart for comments & criticism.

ta

revstar
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  • #70,205
  • Jul 30, 2010 3:44am Jul 30, 2010 3:44am
Quoting supremeChaos
Pinbar,
based on your chart & aserbfx's, the lower wicks are not too long. compare the wicks here (chart on #70059). the longer the wick, the better.

having said that, if price cant drop to 1.0300-50 or below, this chart looks bullish to me. towards 1.0400, & perhaps 1.0500.
Let's see

Looks like it faked us out SC.
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  • #70,206
  • Edited 4:04am Jul 30, 2010 3:53am | Edited 4:04am
Pinbar,
not really.
if u read back, i mentioned "if price cant drop to 1.0300-50 or below, this chart looks bullish to me". i see weakness, but essentially price is in a 1.0300 - 1.0400 range right now. further weakness below 1.0300, is possible.

EDIT (removed, see below)
  • #70,207
  • Jul 30, 2010 3:57am Jul 30, 2010 3:57am
Quoting Pinbar
Looks like it faked us out SC.
I don't think it faked you out. Looks like it's just heading for the bottom of the pennant it's forming, and will bounce back up.
  • #70,208
  • Jul 30, 2010 4:49am Jul 30, 2010 4:49am
Quoting fx_heaven
Yes, I agree, but it may move to 7150 before bouncing as that first support TL seems to be breaking down.

I'm thinking cash in for now or wait for 7150, then cash in and wait for the next pull back.

You could see what happens today/monday on the pullback to 7240 before deciding.

When both trends line up (as well as PA) i.e. Weekly down trend and Daily becomes a down trend once that up trend(s) are broken that is most likely when it will run.

We may get a H&S pattern form, so if you can pick an entry on the RH shoulder that would be great.....but...
I often cash in and then come back.

As I remember, yesterday Jarroo thought EUR/USD had not finished with 1.30.
It just turned around and shook hands with 1.30 again.
  • #70,209
  • Jul 30, 2010 4:52am Jul 30, 2010 4:52am
Welcome The Hare,
Keep posting, Sir!


for those who just woke up.
J16 now has a chatroom.
hang out & just chill. it's Friday, guys
  • #70,210
  • Jul 30, 2010 5:07am Jul 30, 2010 5:07am
Quoting supremeChaos
Pinbar,
not really.
if u read back, i mentioned "if price cant drop to 1.0300-50 or below, this chart looks bullish to me". i see weakness, but essentially price is in a 1.0300 - 1.0400 range right now. further weakness below 1.0300, is possible.

EDIT (removed, see below)

I hear you people.

So, we would treat this more of a breakout with PA confirmation rather than just a PA setup at the low or high.
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  • #70,211
  • Jul 30, 2010 5:34am Jul 30, 2010 5:34am
Pinbar,
yes breakout with PA, ideally.
breakout & pullback +PA to be safer.
  • #70,212
  • Jul 30, 2010 5:44am Jul 30, 2010 5:44am
Hi,

2 weeks back, from this very thread, I had downloaded a indicator that showed pip spread, daily average as well as how far price was from opening.

My hard disk crashed last week and I lost all data. Can someone help me locate this indicator?

Thanks
  • #70,213
  • Jul 30, 2010 5:49am Jul 30, 2010 5:49am
Quoting supremeChaos
Pinbar,
yes breakout with PA, ideally.
breakout & pullback +PA to be safer.

Thanks SC, I was thinking this is a Mike style play.
  • #70,214
  • Jul 30, 2010 5:52am Jul 30, 2010 5:52am
everydayguid,
try this & this?

wow, bad experience. my hard disk (other PC) probably crashed too. i havent confirmed yet.
  • #70,215
  • Jul 30, 2010 6:09am Jul 30, 2010 6:09am
Thanks a lot. Yep, thats exactly the one.

Please back up before anything happens.

Quoting supremeChaos
everydayguid,
try this & this?

wow, bad experience. my hard disk (other PC) probably crashed too. i havent confirmed yet.
  • #70,216
  • Jul 30, 2010 6:12am Jul 30, 2010 6:12am
i've had blue screens already (BSOD).
i havent opened that PC since then.
hopefully it's not a hard drive crash.
Thanks, Sir!
  • #70,217
  • Jul 30, 2010 6:22am Jul 30, 2010 6:22am
Small chances to have big changes today so...let's see what happens next week
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  • #70,218
  • Jul 30, 2010 6:54am Jul 30, 2010 6:54am
I demo traded a small, bearish daily IPB last night off of the 1.6200 . Sold at 1.6175 with a s/l at 1.6210. Set a T/P of 1.6105. This was only the second IPB, I've demo'd and it worked out. For those of you who play these regularly was this a valid bar, or maybe some beginners luck?
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  • #70,219
  • Jul 30, 2010 6:58am Jul 30, 2010 6:58am
I just read this on a forum.
It is for the UK but you can put US and change the numbers I'm sure.


The UK is in DEEP trouble...

The population of this country is approximately 60 million.

32 million are retired.

That leaves 28 million to do the work..

There are 17 million in school or at Universities.

Which leaves 11 million to do the work.

Of this there are 8 million employed by the UK government.

Leaving 3 million to do the work.

1.2 million are in the armed forces preoccupied with killing Osama Bin-Laden,
and fighting in Afghanistan .

Which leaves 1.8 million to do the work.

Take from that total the 0.8 million people who work for Local County Councils. And that leaves 1 million to do the work.

At any given time there are 488,000 people in hospitals or claiming Invalidity Benefit.

Leaving 512,000 to do the work.

Now, there are 511,998 people in prisons.

That leaves just two people to do the work.

You and me.

And there you are,

Sitting on your a r s e,

At your computer, reading jokes.



Is it any wonder that we are in such a mess and that I am stressed out through trying to cope on my own?
  • #70,220
  • Jul 30, 2010 7:10am Jul 30, 2010 7:10am
anybody considering this pinbar on e/u.
to much traffic to the left and a down-bar, imho.
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meine augen sind die sterne
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