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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

  • #9,561
  • Mar 15, 2008 11:32am Mar 15, 2008 11:32am
Quoting kptMisiu
In my opinion there is a possibility to go up (beginner opinion). If you take the 2 bars on your daily chart, so you get a 2 bar pinbar, which has never been broken to the downside. The price right now is to high for the pinbar to work, in my opinion. the weekly shows no reversal sign. The only resistance seems the trendline. I am not saying, we are going up, but just to be careful. There seems to be a strong support around 1.6500.

kpt
sorry my friend i dont see any PB i see a confluence, TH in the daily TF +trendline+ ema 365 on weekly TF.....SHOWS DOWN.....
  • #9,562
  • Mar 15, 2008 12:09pm Mar 15, 2008 12:09pm
Quoting shayb
sorry my friend i dont see any PB i see a confluence, TH in the daily TF +trendline+ ema 365 on weekly TF.....SHOWS DOWN.....
No problem, I have no platform here, so I modified your chart. I hope, you can see now, what I mean. For me we need to break this 1.650 zone first to go lower. Do you see the range phase between ~december 2007 abd february 2008? Your TH, I would like to see the close a little bit lower for a sign to go lower, instead we landed at the top of the weekly range with w bulish bar on weekly.
Again, I didnt say, we are going up, just to be careful here.
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  • #9,563
  • Mar 15, 2008 12:28pm Mar 15, 2008 12:28pm
Quoting kptMisiu
No problem, I have no platform here, so I modified your chart. I hope, you can see now, what I mean. For me we need to break this 1.650 zone first to go lower. Do you see the range phase between ~december 2007 abd february 2008? Your TH, I would like to see the close a little bit lower for a sign to go lower, instead we landed at the top of the weekly range with w bulish bar on weekly.
Again, I didnt say, we are going up, just to be careful here.
You right it may go up but i dont uderstand what are you trying say....i see in chart the first PB the second is not PB or i am blind my TH is TH not DBHLC.....abreak out of this TH will confirm the up trend but for now the chart says down.....i am being careful thats why i asked for confirmation.

Thanks
Shay
  • #9,564
  • Mar 15, 2008 12:37pm Mar 15, 2008 12:37pm
Quoting shayb
You right it may go up but i dont uderstand what are you trying say....i see in chart the first PB the second is not PB or i am blind my TH is TH not DBHLC.....abreak out of this TH will confirm the up trend but for now the chart says down.....i am being careful thats why i asked for confirmation.

Thanks
Shay

I see what you mean. The first Pinbar(2-day) has on each day the close like an ordinary daily Pinbar. The second one(2-day) has the close between the days at the top. I see it like this: It does not matter, where the price is between the open and the close as long as we have the close near to the open with a long nose. So, for the 2-day pin you do not look at the close on each day, only at the close after 2 days. It is simply another timeframe. If your broker would offer a 2 day-timeframe, you would see the same pinbar on this two exmaples(of course if both match these 2 days, but its another story).

kpt
  • #9,565
  • Mar 15, 2008 1:07pm Mar 15, 2008 1:07pm
Quoting kptMisiu
I see what you mean. The first Pinbar(2-day) has on each day the close like an ordinary daily Pinbar. The second one(2-day) has the close between the days at the top. I see it like this: It does not matter, where the price is between the open and the close as long as we have the close near to the open with a long nose. So, for the 2-day pin you do not look at the close on each day, only at the close after 2 days. It is simply another timeframe. If your broker would offer a 2 day-timeframe, you would see the same pinbar on this two exmaples(of course if both match these 2 days, but its another story).

kpt
now i understand what you mean....2 day PB...if i am not wrong your short confirmation will be only if the price hit 1.6450 what is your TR...?

Thanks
Shay
  • #9,566
  • Mar 15, 2008 1:18pm Mar 15, 2008 1:18pm
Quoting shayb
now i understand what you mean....2 day PB...if i am not wrong your short confirmation will be only if the price hit 1.6450 what is your TR...?

Thanks
Shay
oh no, I am not trading this pair, just wanted to give you my thoughts on this one, as you asked. This is a good location for right price action, and this is exactly the point with price action, I think. You found the right location and watched for price action. Your TH was a nearly DBHLC, but only nearly. So, let it go. If this 2-Day pinbar broke down, it could be a good trade, in my opinion. If the price goes down, no problem, there will be more trades like this. This setup is simply not perfect, so I would let it go, but it is onle an opinion of a beginner.

Take care
kpt
  • #9,567
  • Mar 15, 2008 1:27pm Mar 15, 2008 1:27pm
Quoting kptMisiu
oh no, I am not trading this pair, just wanted to give you my thoughts on this one, as you asked. This is a good location for right price action, and this is exactly the point with price action, I think. You found the right location and watched for price action. Your TH was a nearly DBHLC, but only nearly. So, let it go. If this 2-Day pinbar broke down, it could be a good trade, in my opinion. If the price goes down, no problem, there will be more trades like this. This setup is simply not perfect, so I would let it go, but it is onle an opinion of a beginner.

Take care
kpt
Thanks man.....
  • #9,568
  • Mar 16, 2008 1:10am Mar 16, 2008 1:10am
Hi guys.

On the 4 hr this pair failed to make a new lower low. (Check out the orange line below for starters.)

Either way. Nicely spotted Shay. There will most likely be a trade one way or the other from this eventually.
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Bundy's status today: "Waiting..."
  • #9,569
  • Mar 16, 2008 2:36am Mar 16, 2008 2:36am
Hi guys can somebody shed some light on Gu. it looks very very undecided. there was kind of a pin bar on the hourly just befoe the close of friday session, but there are talks going on that the pair is going to go bearish for sure...what do you guys think, in terms of PA trendlines PPZ's and general analysis??

here is my chart and my support levels for the downtrend,

http://i81.photobucket.com/albums/j209/ghous/lsk.gif

personally i would like to have faith in the pin bar as it is a very valid one (not all that developed on my charts yet but others on the Gu thread did show me a nice PB)

please share your thoughts...

regards,
Ghous
I believe . . .
  • #9,570
  • Mar 16, 2008 12:25pm Mar 16, 2008 12:25pm
Quoting bundyraider
Hi guys.

On the 4 hr this pair failed to make a new lower low. (Check out the orange line below for starters.)

Either way. Nicely spotted Shay. There will most likely be a trade one way or the other from this eventually.
What's your plan bundy ,trade the break out or wait for BO/PB with PA....?

Thanks
Shay
  • #9,571
  • Mar 16, 2008 7:21pm Mar 16, 2008 7:21pm
Quoting SeekingLight
I guess I could also post an updated CJ chart to show how things went and where the next big areas of s/r / potential breakdown targets are.
Humdeedumdeedum update
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Trust price. Know yourself.
  • #9,572
  • Mar 16, 2008 7:28pm Mar 16, 2008 7:28pm
EURAUD to me doesn't look that complicated - one just has to be aware of the "borders".

No real breakout, no real good r/r setups here. You can only go where price lets you when ranging.
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Trust price. Know yourself.
  • #9,573
  • Mar 16, 2008 10:27pm Mar 16, 2008 10:27pm
Quoting SeekingLight
Humdeedumdeedum update
Nice.. just closed all my positions: yen longs and $ shorts about half an hour ago. I never expected such a gift from feds on Sunday. I think, it's time to take few weeks of vacation now . Next couple weeks should be very volatile and I wouldn't be surprised to see yen weaken several hundred pips in just few short hours if we get boj step up to the plate...
  • #9,574
  • Mar 17, 2008 3:18am Mar 17, 2008 3:18am
Hi guys,

Like you know, I'm new here. Busy working through the thread.

On Inside Bars: How do you trade them? I understand that they indicate a possible "breakout" scenario.

Thanks

Werner
Phil419
  • #9,575
  • Mar 17, 2008 5:51am Mar 17, 2008 5:51am
Quoting raczekfx
Nice.. just closed all my positions: yen longs and $ shorts about half an hour ago.
Oh, but we've only just begun...even the BOJ can't wipe away these crucial breakdowns.
Attached Images
Trust price. Know yourself.
  • #9,576
  • Mar 17, 2008 5:52am Mar 17, 2008 5:52am
Quoting wernbrenk
Hi guys,

Like you know, I'm new here. Busy working through the thread.

On Inside Bars: How do you trade them? I understand that they indicate a possible "breakout" scenario.

Thanks

Werner

This can vary depending on the situation. The simple version is a straddle of the IB itself - pending orders and stops on both sides.
However some traders might give one side preference(I do almost always).


Also be aware that not all IBs are created equal and as always placement matters.
Trust price. Know yourself.
  • #9,577
  • Mar 17, 2008 6:16am Mar 17, 2008 6:16am
Not sure if I posted this here as well or only in my journal.

Bit of an update to GBPCHF(old chart is from Jan 3rd, 2008). I was expecting this type of thing a while ago

Sadly I was suckered out of the short I had going from 2.0555 as we opened as I believed we'd be influenced by the gap. Instead we fell 600 pips.

Oh well. Nonetheless, I have other trades to console me

Just wanted to post original chart and followup to illustrate what happened.
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Trust price. Know yourself.
  • #9,578
  • Mar 17, 2008 8:34am Mar 17, 2008 8:34am
Quoting SeekingLight
Oh, but we've only just begun...even the BOJ can't wipe away these crucial breakdowns.
nuh... enough is enough ...let's turn the wheel around...
  • #9,579
  • Mar 17, 2008 12:02pm Mar 17, 2008 12:02pm
perhaps some of you took advantage of this nice beovb (tbhlc..?)..
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  • #9,580
  • Mar 17, 2008 12:07pm Mar 17, 2008 12:07pm
Quoting raczekfx
perhaps some of you took advantage of this nice beovb (tbhlc)..
or this....?
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