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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

  • #13,061
  • Aug 24, 2008 2:19pm Aug 24, 2008 2:19pm
Quoting jarroo
Huge PPZ at 1.8500ish.
this short is definitely worth watching ... price has already closed below a key area of historical support at 8528 and as you said, is fighting this round number support area here at 8500; i'm going to wait for a further test and breach here and jump on board (at 8470-ish) ... (and w/ my MM firmly in place) ... if it works, the RR is really nice.
"Believe nothing you hear and half of what you see." Proverb
  • #13,062
  • Aug 24, 2008 2:22pm Aug 24, 2008 2:22pm
Quoting fxgrinder
this short is definitely worth watching ... price has already closed below a key area of historical support at 8528 and as you said, is fighting this round number support area here at 8500; i'm going to wait for a further test and breach here and jump on board (at 8470-ish) ... (and w/ my MM firmly in place) ... if it works, the RR is really nice.
8470 sounds good. I thinking a retrace to 8600 1st.
Indicators show the past. Price Action "Indicates" the future.
  • #13,063
  • Aug 24, 2008 2:26pm Aug 24, 2008 2:26pm
Quoting jarroo
8470 sounds good. I thinking a retrace to 8600 1st.
are you thinking about retrace first or after the break at some level?
"Believe nothing you hear and half of what you see." Proverb
  • #13,064
  • Aug 24, 2008 2:27pm Aug 24, 2008 2:27pm
Quoting fxgrinder
are you thinking about retrace first or after the break at some level?
Both.
Indicators show the past. Price Action "Indicates" the future.
  • #13,065
  • Aug 24, 2008 2:33pm Aug 24, 2008 2:33pm
8600ish
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Indicators show the past. Price Action "Indicates" the future.
  • #13,066
  • Edited 3:11pm Aug 24, 2008 2:35pm | Edited 3:11pm
I was reading the discussion the past few pages about which direction price might move. The thing to keep in mind is that smart buyers (big money) buy after a decline in price and at support. Sellers sell after a rise in price and at resistance. So you need to ask yourself would the smart money be buying or selling at this point and are we at a point of support or resistance?
  • #13,067
  • Aug 24, 2008 4:23pm Aug 24, 2008 4:23pm
What do you guys say about daily pin ?it's almost extreme low, and it's swing low. 263.00 is historical low from 1.6.2006. Low of this pin is 266.00

http://img299.imageshack.us/img299/7890/palary9.png
  • #13,068
  • Aug 24, 2008 5:09pm Aug 24, 2008 5:09pm
Quoting jarroo
8470 sounds good. I thinking a retrace to 8600 1st.
So much for the retrace.
Indicators show the past. Price Action "Indicates" the future.
  • #13,069
  • Aug 24, 2008 5:28pm Aug 24, 2008 5:28pm
Quoting jarroo
So much for the retrace.
it might still happen ... did you get in at the break tho?
"Believe nothing you hear and half of what you see." Proverb
  • #13,070
  • Aug 24, 2008 5:34pm Aug 24, 2008 5:34pm
Do you see guys what happened now? I cant believe and dont know what is it! wonderfull ! What's the trigger...
  • #13,071
  • Aug 24, 2008 5:35pm Aug 24, 2008 5:35pm
Quoting fxgrinder
it might still happen ... did you get in at the break tho?
Yeah, sell stop at 8485
Indicators show the past. Price Action "Indicates" the future.
  • #13,072
  • Aug 24, 2008 7:52pm Aug 24, 2008 7:52pm
Quoting Jankone
Do you see guys what happened now? I cant believe and dont know what is it! wonderfull ! What's the trigger...

Do u really care WHAT caused it


All we care about is $$$
  • #13,073
  • Aug 24, 2008 8:33pm Aug 24, 2008 8:33pm
this is a trade that i just placed

its a blind one (NO PBs or anyother PA )

well there is a Doji ..which to me doesnt mean much

the reason i took it is

1)BIg divergence
2)Nice ressistance line @ weekly,daily,u name it
3)the ressistance number is @ a round number(anything that ends with .00)
1.1000
4)there is a double top

so i palced my sell stop @1.0985

what do u think guys?

does anyone knows anyother program that i can play(insert circles/words/lines) with my chats than paint brush(coz it sucks )
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  • #13,074
  • Aug 24, 2008 8:34pm Aug 24, 2008 8:34pm
I only cought 3 trades last week and they all won just seems like it's a lot slower then the norm. Anyone else seeing the same thing? This is on the 4hr time.
Keep taking CT trades, I need more money
  • #13,075
  • Aug 24, 2008 8:39pm Aug 24, 2008 8:39pm
Quoting ezz
this is a trade that i just placed

its a blind one (NO PBs or anyother PA )

well there is a Doji ..which to me doesnt mean much

the reason i took it is

1)BIg divergence
2)Nice ressistance line @ weekly,daily,u name it
3)the ressistance number is @ a round number(anything that ends with .00)
1.1000
4)there is a double top

so i palced my sell stop @1.0985

what do u think guys?

does anyone knows anyother program that i can play(insert circles/words/lines) with my chats than paint brush(coz it sucks )

raczekfx would be proud.
Indicators show the past. Price Action "Indicates" the future.
  • #13,076
  • Aug 24, 2008 8:50pm Aug 24, 2008 8:50pm
Looks like that's a major PPZ as well on the USD/CHF chart.

FWIW There's the same sort of action on the Usd/Jpy major PPZ that price is butting up against now, I was long but closed it and will wait for price to tell me whether we're going to break thru or bounce off. Anyone else seeing that as well?
Patience + Humility + Study = Success
  • #13,077
  • Aug 24, 2008 8:56pm Aug 24, 2008 8:56pm
sorry!, real rookie question here.... whats is a PPZ?
  • #13,078
  • Aug 24, 2008 8:58pm Aug 24, 2008 8:58pm
[quote=DutchTrader;2181829]Looks like that's a major PPZ as well on the USD/CHF chart.

If you look at daily there's not much resistance until 1.11, that might be good place to look for reversal.
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  • #13,079
  • Aug 24, 2008 9:00pm Aug 24, 2008 9:00pm
Quoting rosssurf
sorry!, real rookie question here.... whats is a PPZ?
PPZ stands for price pivot zone

It is the flip b/w support and resistance.

Start with this post and scroll down

http://www.forexfactory.com/showthre...ne#post1840240

Enjoy it is powerful tool


Mike
  • #13,080
  • Aug 24, 2008 9:02pm Aug 24, 2008 9:02pm
[quote=Betard;2181839]
Quoting DutchTrader
Looks like that's a major PPZ as well on the USD/CHF chart.

If you look at daily there's not much resistance until 1.11, that might be good place to look for reversal.
I agree Bet. Could go long too. Let's let Price Action show us the way.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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