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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

  • #15,141
  • Nov 9, 2008 1:12pm Nov 9, 2008 1:12pm
Quoting PeterFM
Just a quick point, as Mike says Price can react at various points within a Support/Resistance (SR) area.

So, some like to draw a band that encompasses a range of highs (Resistance) or lows (Support) and some, like me, prefer a more precise approach. My original image was just a quick and dirty pic to show the broad concept not to suggest that lines were best.

So here's another with a couple PPZ Zones drawn. The same thing applies though, old Support becoming new Resistance when price comes back to that area (and vice versa). Again, it doesn't always happen that the roles get switched but it happens often enough to wait for PA to guide you in your trading.

[b][color=Green]Support arrows in...
Hi ya Peter,

Thanking you for your great clear chart example to help with my learning ..

Much appreciated!

Adrian
  • #15,142
  • Nov 9, 2008 1:43pm Nov 9, 2008 1:43pm
this thread #1000 as round number failed, there was no S/R and we are #1010 lol, i work too much
  • #15,143
  • Nov 9, 2008 1:50pm Nov 9, 2008 1:50pm
Quoting boyeros
I would like to learn your system .Could you explain me how it works.

Don't be lazy, read the posts. How many lazy people do well in life?
Keep taking CT trades, I need more money
  • #15,144
  • Nov 9, 2008 3:52pm Nov 9, 2008 3:52pm
Quoting Jankone
this thread #1000 as round number failed, there was no S/R and we are #1010 lol, i work too much

yeap .....This is a trending thread.
  • #15,145
  • Nov 9, 2008 8:49pm Nov 9, 2008 8:49pm
[quote=Ryanmcd;2336571]Don't be lazy, read the posts. How many lazy peopl
thank you for everything .
I will get it.
reward
  • #15,146
  • Nov 9, 2008 9:45pm Nov 9, 2008 9:45pm
Gold weekly just finished an I4B, which sits on the EMA(150). In addition, there is a daily MACD divergence there. If it breaks to the upside, it may go visit the 850 resistance.

Ken
Attached Image
  • #15,147
  • Nov 9, 2008 9:54pm Nov 9, 2008 9:54pm
Quoting goodtiding5
Gold weekly just finished an I4B, which sits on the EMA(150). In addition, there is a daily MACD divergence there. If it breaks to the upside, it may go visit the 850 resistance.

Ken
I don't trade gold but looks like setup for a short to me. Right now there's a triangle pattern forming on the 4hr and daily, which is usually a trend continuation pattern. Also sitting on 38.2 fib line and prior support turned resistance.
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Click to Enlarge Name: gold.gif Size: 16 KB
  • #15,148
  • Nov 9, 2008 10:06pm Nov 9, 2008 10:06pm
Quoting Betard
I don't trade gold but looks like setup for a short to me. Right now there's a triangle pattern forming on the 4hr and daily, which is usually a trend continuation pattern. Also sitting on 38.2 fib line and prior support turned resistance.
The best is to do nothing in this kinda of triangle moment...but if u ask me to take side...I am freaking Long for GOLD...

Sonic
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  • #15,149
  • Nov 9, 2008 10:10pm Nov 9, 2008 10:10pm
Not the best looking Pin Bar on the 4 hour Gbp/Jpy, but I like its location. (a longer nose would have been nice.)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,150
  • Nov 9, 2008 10:19pm Nov 9, 2008 10:19pm
A better look. Doesn't hurt that the PB is point toward the gap.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,151
  • Nov 10, 2008 12:14am Nov 10, 2008 12:14am
Pin Bar break.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,152
  • Nov 10, 2008 12:31am Nov 10, 2008 12:31am
Quoting jarroo
Pin Bar break.
Potential target green line. Closing the gap would be nice.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,153
  • Nov 10, 2008 1:51am Nov 10, 2008 1:51am
Quoting jarroo
A better look. Doesn't hurt that the PB is point toward the gap.
Hi Jim, You can actually zoom out and find the trendline it is bouncing off there too.

Using the close price chart of course.

I'm skipping it though.
Bundy's status today: "Waiting..."
  • #15,154
  • Nov 10, 2008 1:54am Nov 10, 2008 1:54am
Quoting bundyraider
Hi Jim, You can actually zoom out and find the trendline it is bouncing off there too.

Using the close price chart of course.

I'm skipping it though.
The 4 hour time frame right?
Indicators show the past. Price Action "Indicates" the future.
  • #15,155
  • Nov 10, 2008 2:02am Nov 10, 2008 2:02am
Quoting bundyraider

I'm skipping it though.
I'm already in it.
Indicators show the past. Price Action "Indicates" the future.
  • #15,156
  • Nov 10, 2008 2:27am Nov 10, 2008 2:27am
Quoting jarroo
I'm already in it.
Yeah 4 hour. You can do the same with the daily close chart and that intersects at the same point. lol

Sorry, I didn't mean to make that sound like I'm belittling the set up. Example of my pickiness some times. lol

I'm thinking along the lines of a break to your upper channel line and some kind of direction decision after that. People just don't seem to like near misses of established patterns. ...I don't know. You've probably got an idea by now of how much I like everything like this to agree. This is just one of those examples.
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Bundy's status today: "Waiting..."
  • #15,157
  • Nov 10, 2008 2:28am Nov 10, 2008 2:28am
Personally I wasn't comfortable trading any of the gaps that were around on opening today...seemed a little risky looking through the timeframes. Sometimes you can tell if a gap is going to close quickly and I didn't get any of those signals this morning so I sat out.....plenty of time and I don't feel the need to be in the market straight away...better to sit back and take high probablity trades when they come up.
  • #15,158
  • Edited 2:42am Nov 10, 2008 2:39am | Edited 2:42am
Hey. While we're here, check out this inside pattern that's forming...


I've been watching these closely all year. If we now break the high of the previous bar we're going at least the same distance as you can measure from the bottom of the reversal to the top of the inside bar. ( in this case as an example the min target is 88 pips above the inside break). Most often goes a LOT further though. lol

I've also marked a previous example.

The inside bar had a false break the other way and retraced to 61.8 or 76 area. (fib drawn from the low of the previous bar to the high of the IB). And then broke into a reversal.

Happens a lot on the smaller time frames as trendline bounces.
Attached Image (click to enlarge)
Click to Enlarge Name: gj 1 hour inside patterns.gif Size: 23 KB
Bundy's status today: "Waiting..."
  • #15,159
  • Nov 10, 2008 2:40am Nov 10, 2008 2:40am
Quoting bundyraider
Yeah 4 hour. You can do the same with the daily close chart and that intersects at the same point. lol

Sorry, I didn't mean to make that sound like I'm belittling the set up. Example of my pickiness some times. lol

I'm thinking along the lines of a break to your upper channel line and some kind of direction decision after that. People just don't seem to like near misses of established patterns. ...I don't know. You've probably got an idea by now of how much I like everything like this to agree. This is just one of those examples.
No belittling taken my friend. Your comments and insight are most welcomed as always.

I would like to see a bounce back down at my entry. I management to take off half 72 pips and moved my stop loss above the left eye.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,160
  • Nov 10, 2008 2:45am Nov 10, 2008 2:45am
Quoting tehuringa
Personally I wasn't comfortable trading any of the gaps that were around on opening today...seemed a little risky looking through the timeframes. Sometimes you can tell if a gap is going to close quickly and I didn't get any of those signals this morning so I sat out.....plenty of time and I don't feel the need to be in the market straight away...better to sit back and take high probablity trades when they come up.
Same here tehuringa. It's kind of messy at the moment.

Maybe later in the week. Just when you think there won't be any set ups they can come out of nowhere.
Bundy's status today: "Waiting..."
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