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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

  • #9,961
  • Apr 10, 2008 6:11pm Apr 10, 2008 6:11pm
Quoting gagiul
thanx for the info, i got Northfinance now, but I have only gold and cant find the Dow. whats the code for the DOW, something like # something....?
DJI

Regards

Matt
  • #9,962
  • Edited 7:18pm Apr 10, 2008 6:37pm | Edited 7:18pm
I noticed some folks from other threads were eager to jump long on gj after daily pb formed.
There is nothing wrong with that, as long as you know what's ahead of you. Always check where is the next ppz.
There is a good reason why that pin ended where it ended....
When I closed short xx/jpy trades early moning and thought of reversing (never did), that area would be my TP

edit:
I went long g/j (just before 8pm est) @ 200.60 with 30ps stop.

.
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  • #9,963
  • Apr 10, 2008 7:14pm Apr 10, 2008 7:14pm
Quoting gagiul
what do you think about all the PBs on yen crosses today? Are they good setups? My fear is that this was an artificial move and tomorrow the market will resume its normal trend, which is down.
Many different setups when a Pin Bar presents itself. Retrace on Fib Levels (50%, 61.8%) are one way. A break of the top of the Pin Bar, in this case 201.39 which is at a S/R level. I like the Fib retrace myself.

The market does not have artifical moves. (Whatever that is.)
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Indicators show the past. Price Action "Indicates" the future.
  • #9,964
  • Apr 10, 2008 7:22pm Apr 10, 2008 7:22pm
Quoting gagiul
thanx a lot raczek. Can u pls tell me which broker with metatrader features DOW charts too?
FxPro.com also offers all of that and then some, but I would only use them to demo...
  • #9,965
  • Apr 10, 2008 7:44pm Apr 10, 2008 7:44pm
Quoting raczekfx
I went long g/j (just before 8pm est) @ 200.60 with 30ps stop.

.
And, of course, taking trade at the open with a tight s/l after the Pin Bar is another option. Nice, raczekfx.
Indicators show the past. Price Action "Indicates" the future.
  • #9,966
  • Apr 10, 2008 7:57pm Apr 10, 2008 7:57pm
Hi,

I have an order to sell @ 201.36. I think theres too much S/R for it to go much further than that today.
  • #9,967
  • Apr 10, 2008 8:01pm Apr 10, 2008 8:01pm
for north finance click on market watch to get symbols up then click around on symbols to get show all hope this help
john
  • #9,968
  • Apr 10, 2008 8:01pm Apr 10, 2008 8:01pm
Quoting Siam
Hi,

I have an order to sell @ 201.36. I think theres too much S/R for it to go much further than that today.
Never underestimate the Power of the Forc . . . wait . . . I mean . . . Price Action. The Pin Bar may prove to have more strength then the S/R level.
Indicators show the past. Price Action "Indicates" the future.
  • #9,969
  • Apr 10, 2008 8:05pm Apr 10, 2008 8:05pm
Cheers jaroo still learning from people like you. Its all pretty new this price action to me I'm trying to look out for those A trades that Jim always talks about. one step at a time, but up untill now so far so good.
  • #9,970
  • Apr 10, 2008 8:06pm Apr 10, 2008 8:06pm
Quoting jarroo
The Pin Bar may prove to have more strength then the S/R level.
Time will tell I guess.
  • #9,971
  • Apr 10, 2008 8:10pm Apr 10, 2008 8:10pm
Quoting Siam
Cheers jaroo still learning from people like you. Its all pretty new this price action to me I'm trying to look out for those A trades that Jim always talks about. one step at a time, but up untill now so far so good.
Practise and Patience and then more Practise. You'll get there.
Indicators show the past. Price Action "Indicates" the future.
  • #9,972
  • Apr 10, 2008 8:54pm Apr 10, 2008 8:54pm
Quoting forexmoments
Time will tell I guess.
I would like to see a confirmation of my 201.00 and 201.39 entries by Price breaking and then
supporting the 201.78ish S/R Level.
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Indicators show the past. Price Action "Indicates" the future.
  • #9,973
  • Apr 10, 2008 9:00pm Apr 10, 2008 9:00pm
Quoting jarroo
And, of course, taking trade at the open with a tight s/l after the Pin Bar is another option. Nice, raczekfx.
and another area to watch for (price slowing down?)... and so on...
.
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  • #9,974
  • Apr 10, 2008 9:17pm Apr 10, 2008 9:17pm
Weekly Inside Bar (candle) is still in play, gentlemen.

(Or it could be considered a TBH formation)
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Indicators show the past. Price Action "Indicates" the future.
  • #9,975
  • Apr 11, 2008 12:53am Apr 11, 2008 12:53am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi,Mike, Swami, Matiafx. I am so grateful for all your encourage. people says traders are lonely, but, I never feel alone since coming here.
Best wishes to your great weekend
  • #9,976
  • Apr 11, 2008 2:21am Apr 11, 2008 2:21am
Quoting dustmop
for north finance click on market watch to get symbols up then click around on symbols to get show all hope this help
john
thanx a lot, this is what I needed.
We leave no soldier behind.
  • #9,977
  • Apr 11, 2008 7:11am Apr 11, 2008 7:11am
Quoting jarroo
I would like to see a confirmation of my 201.00 and 201.39 entries by Price breaking and then
supporting the 201.78ish S/R Level.
I woke up to find my half positions close out.

How they played out;
200.00 entry - half for 66 pips the other half closed at B/E.

201.39 entry - half at 22 pips the other half closed at B/E.

My 1st target was 201.78 S/R Level.
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Indicators show the past. Price Action "Indicates" the future.
  • #9,978
  • Apr 11, 2008 7:14am Apr 11, 2008 7:14am
Current trade: entry at 199.32 (61.8% off the Pin Bar)
S/L tight at 198.85
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Indicators show the past. Price Action "Indicates" the future.
  • #9,979
  • Apr 11, 2008 8:10am Apr 11, 2008 8:10am
Quoting jarroo
Current trade: entry at 199.32 (61.8% off the Pin Bar)
S/L tight at 198.85
Stopped out at 198.85.
Indicators show the past. Price Action "Indicates" the future.
  • #9,980
  • Apr 11, 2008 8:12am Apr 11, 2008 8:12am
Quoting jarroo
Stopped out at 198.85.
It seems that is a pin bar in traffic. Got burnt also
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