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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

  • #11,001
  • May 29, 2008 12:29pm May 29, 2008 12:29pm
looking to ...., well you know what....
just watch the daily dj chart for clues...
.
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  • #11,002
  • May 29, 2008 2:35pm May 29, 2008 2:35pm
longer term view...
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  • #11,003
  • May 29, 2008 2:36pm May 29, 2008 2:36pm
... and short term view..
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  • #11,004
  • May 29, 2008 2:40pm May 29, 2008 2:40pm
plenty of opportunities everywhere...
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  • #11,005
  • May 29, 2008 3:29pm May 29, 2008 3:29pm
You guys...the minute I decide to keep my fingers mostly off of the hot stove that is the carry madness mess you folks jump in with both feet

I'm just glad that I have a hunch you two could trade exactly opposing directions and both at the same time come out net +++

Let the games begin!


Edit: Hmmm, just been looking at the daily ranges...something big is going to happen, isn't it.
This should be interesting.
Trust price. Know yourself.
  • #11,006
  • May 29, 2008 3:31pm May 29, 2008 3:31pm
Quoting cosgrove
Bummed that I missed this killer 4h pin on EURJPY, I was home all day! I might still take the daily pin. Thoughts?
Hi cosgrove,

For what it's worth, I think this trade may still show some PA.
On the EURYEN there is potential for an IB to form against the longterm trendline, although a subsequent downside break would need to clear the ppz of 162.90-163.15.

Also of note is the double PB, or you could combine them to form one, on CHFYEN. This was triggered today but also needs to break a ppz at 100.40-45 to accelerate weakness.
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Click to Enlarge Name: CHFYEN.jpg Size: 63 KB
  • #11,007
  • May 29, 2008 6:47pm May 29, 2008 6:47pm
Sorry, I said I'd post this trade when it happened, but I've been too busy to construct charts.

Excuse the mess, haven't really got time now either. LOL

The current action happening right now looks like it may be about to turn up, so I've pulled the stop a bit closer now that the move looks to be taking a reprieve. Otherwise would normally give even more room.

I only have to check the charts daily. A lot of these trades don't even need the hourly entry, like I have here.

15 point original stop loss. 100 points up at one point. Current stop at locked-in 4:1 RR .

,Bundy
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Click to Enlarge Name: eurgbp update 1 hour.gif Size: 26 KB
Bundy's status today: "Waiting..."
  • #11,008
  • May 29, 2008 7:10pm May 29, 2008 7:10pm
BEOB or DBHLC ?
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  • #11,009
  • Edited 7:56pm May 29, 2008 7:39pm | Edited 7:56pm
Hello Everyone

I wanted to thank you for this thread and the PF. I am learning so much but I am a beginner and I still have to learn and practice

I have found this pinbar on the USDCAD.

There is confluence of the Fibonacci and the price pivot. (if I am using them correctly)

Any advice would be really appreciated
http://img78.imageshack.us/img78/8193/usdcadbc6.th.jpg
  • #11,010
  • May 29, 2008 8:00pm May 29, 2008 8:00pm
CHART
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  • #11,011
  • May 29, 2008 8:04pm May 29, 2008 8:04pm
Quoting phil90
Hello Everyone

I wanted to thank you for this thread and the PF. I am learning so much but I am a beginner and I still have to learn and practice

I have found this pinbar on the USDCAD.

There is confluence of the Fibonacci and the price pivot. (if I am using them correctly)

Any advice would be really appreciated
The nose on the pin does not created a new swing low. I think if you look at the bars preceding it they call that traffic. Ideally you want the nose sticking out into the open. What I see on this chart is a double bottom. Price may very well rise. May also come back and test that bottom again. Either way, somehow this pair seems as if it has an invisible hand keeping it mighty close to pairity.
  • #11,012
  • May 29, 2008 8:10pm May 29, 2008 8:10pm
Thank you for your quick reply Joebryce.

If I understand right because it does not go lower the the previous bars it is not a pin bar or a good pin bar is that right?
  • #11,013
  • May 29, 2008 9:02pm May 29, 2008 9:02pm
Not sure that I'm really qualified here but you have taken my meaning correct. Look at a daily chart of Gbp/Usd. the candle on 5/14 is perfect the best on I've ever traded.
  • #11,014
  • May 30, 2008 1:51pm May 30, 2008 1:51pm
We're ending this week with a nice, FAT TBHLC or if you look closely, we can say it's Beovb (by 4ps on my charts). Are we going to 1.4950 area next? In my mind there is no doubt and with a burst of oil bubble coming, we shall see it rather sooner than later... until then... have a great weekend folks.
trade responsibly!

R
.
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  • #11,015
  • May 30, 2008 2:51pm May 30, 2008 2:51pm
Btw raczekfx,

try seeing (or merge them together) the last two weekly bars on eurusd, you get a nice pin bar.
Can anyone of more experienced traders here tell us if that's of some value?
  • #11,016
  • May 30, 2008 3:44pm May 30, 2008 3:44pm
Quoting raczekfx
We're ending this week with a nice, FAT TBHLC or if you look closely, we can say it's Beovb (by 4ps on my charts). Are we going to 1.4950 area next? In my mind there is no doubt and with a burst of oil bubble coming, we shall see it rather sooner than later... until then... have a great weekend folks.
trade responsibly!

R
.

may I ?

differen´t people, same view:

http://www.forexfactory.com/showpost...&postcount=979
  • #11,017
  • Edited 11:35pm May 30, 2008 10:43pm | Edited 11:35pm
Quoting bee24
Btw raczekfx,

try seeing (or merge them together) the last two weekly bars on eurusd, you get a nice pin bar.
Can anyone of more experienced traders here tell us if that's of some value?
Absolutely. Combining Bars (candles) especially on higher times frames can give you a look at Price Action that others (the market) may not see.

More importantly, the rules (guidelines) still apply when looking for tradable Price Action set-ups on combination Bars.

Is this two week Pin Bar (chart 1) in a good location? Well not really. It's in traffic. It has no 'space" due to the previous bars but it is off new highs.
How about the nose. Looks pretty good. It's 2/3 nose. Good. Open and Close within previous Bar. Good.

Uptrend is real strong. Look at the 2 week Pin Bar in the green area. Great looking PB with space and everything and it did fall 200 pips. Yet it fail to deliver out of all it's splender.
How about the BEVOB in the blue area, talk about good looking. Yet it broke the bottom just a lttle and failed to deliver.

So this 2wk PB in mid traffic is not looking good. But Price Action is a powerful thing and this could prove worthy. Maybe this 2 wk PB with the 2 wk BEVOB will provide the strength it needs to cause the fall. Hard to say.

Or maybe we should wait until the 3 week BEVOB breaks (chart 2) .
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Indicators show the past. Price Action "Indicates" the future.
  • #11,018
  • May 31, 2008 8:42am May 31, 2008 8:42am
Hi Jarroo!

May i ask which indicator u use, to show you those custom timeframes in Mt4 ?

thank you very much in advance!
  • #11,019
  • May 31, 2008 8:53am May 31, 2008 8:53am
Quoting AidanPryde
Hi Jarroo!

May i ask which indicator u use, to show you those custom timeframes in Mt4 ?

thank you very much in advance!

Sure.
Attached File(s)
File Type: ex4 periodcon.ex4   10 KB | 812 downloads
File Type: mq4 periodcon.mq4   16 KB | 954 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #11,020
  • May 31, 2008 9:21am May 31, 2008 9:21am
Quoting jarroo
Luck: When preparation and opportunity meet.

Or You get lucky sometimes when as bundy says . . "coupled with patience and self protection. ...You wait for the trades that give you the best chance of success, and you enter them with a position size that takes into account that NOTHING IS EVER a sure thing, even the best setup ever!"
Well...here I am again . .one week later.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
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