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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

  • #16,261
  • Dec 6, 2008 11:43am Dec 6, 2008 11:43am
Quoting Angel65
Hi Raczekfx,

Thanks a lot for your reply !!

You have been sharing your knowledge a lot with the community and it's very kind of you...............

My best to you

Have a great week end all

Cheers

Angel65
Welcome Angel..
You see, I 'know' that the more you give away or share with others, the more comes back to you. Why do you think J16 is a wealthy and happy man?
Because he's got a big and sincere heart, and helps others less fortunate, even though he could be silent. It's people like him, who make this world a better place. The Universe is full of live and intelligent energy.. what goes around, comes around...(and folks, who started this crisis, know that)
  • #16,262
  • Dec 6, 2008 12:08pm Dec 6, 2008 12:08pm
Raczekfx,

I have NOTHING to add to your statement.

My sincere wishes to you

Take care and god bless you all

Cheers

Angel65
  • #16,263
  • Dec 6, 2008 12:27pm Dec 6, 2008 12:27pm
Quoting Angel65
Hi again,

I better understand now but :

1) Please, what do you mean exactly by 'Yes I do and always, but in this case I trade the other way round I pay more attention on the PPZ coz I see to get confirmation from higher TF will be too late' ?

2) Regarding the PPZ, MONTHLY and WEEKLY PPZ are much more reliable than daily and intraday PPZ ? Am I right ?

3) Regarding reliable PA, less than 1 hour tf is not recommended ?

Thanks

Cheers
Angel65
Hehehehe, again I make things complicated with my English. Trading strictly PA is my priority. I don't abandon PA in this trade infact I used it.
1)I just change the approach. It's same thing but sligthly different.
Rather than using PA 1st then PPZ for trade signal as normal practice I twisted it by using PPZ instead then followed by PA. Hopefully this will not make thing more complicated.

2)Regarding PPZ I suggest u check out raczekfx post just a few page backward. He did explain about this. He is the master of trading PPZ.

3) As I understand from my reading on this thread, Yes! 1 hr is the lowest infact trading 1 hr is tough for me. I used it just for entry purposes ( we do love tight S/L. lol).
Go figure.. Simplicity work
  • #16,264
  • Dec 6, 2008 12:47pm Dec 6, 2008 12:47pm
Tell me this doesn't look good on a break. Triple top in my opinion. My first target would be 1.24s.
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I dream, therefore I become.
  • #16,265
  • Dec 6, 2008 12:52pm Dec 6, 2008 12:52pm
Quoting mike w
Tell me this doesn't look good on a break. Triple top in my opinion. My first target would be 1.24s.
Yo Mike. How are you doing bro?

Looking good on the PB CAD. I think everyone and their sister will watching that next week.

I agree 3 tops.
Indicators show the past. Price Action "Indicates" the future.
  • #16,266
  • Dec 6, 2008 1:00pm Dec 6, 2008 1:00pm
Quoting mike w
Tell me this doesn't look good on a break. Triple top in my opinion. My first target would be 1.24s.
We do have same target area sir!
Attached Image
Go figure.. Simplicity work
  • #16,267
  • Dec 6, 2008 1:37pm Dec 6, 2008 1:37pm
We all know what an I4B is right? If not refer here:
(Thanks Mike):http://www.forexfactory.com/showpost...ostcount=15851

Aud/Usd Weekly has an I15B. Also the Daily perspective.
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Indicators show the past. Price Action "Indicates" the future.
  • #16,268
  • Dec 6, 2008 1:55pm Dec 6, 2008 1:55pm
Quoting jarroo
We all know what an I4B is right? If not refer here:
(Thanks Mike):http://www.forexfactory.com/showpost...ostcount=15851

Aud/Usd Weekly has an I15B. Also the Daily perspective.
God I hate IBs...
Mr. Trend
  • #16,269
  • Dec 6, 2008 1:58pm Dec 6, 2008 1:58pm
Quoting Mr Trend
God I hate IBs...
lol . . . I agree. But some are better then others. Finding the "better" ones is the fun part.
Indicators show the past. Price Action "Indicates" the future.
  • #16,270
  • Dec 6, 2008 1:58pm Dec 6, 2008 1:58pm
Quoting jarroo
Yo Mike. How are you doing bro?

Looking good on the PB CAD. I think everyone and their sister will watching that next week.

I agree 3 tops.

Hey Jim, Im doing great man! How about yourself? I hope everything is good for ya brother! I'll be sendin a PM your way just to chat and see how life is treating you. Ttys.

Your right on that too about the pin. I can't wait for a solid trade to come about off the daily. Other than the IBs a few days ago, I haven't seen a solid daily trade in a while.
I dream, therefore I become.
  • #16,271
  • Edited 2:59pm Dec 6, 2008 2:08pm | Edited 2:59pm
Quoting mike w
Hey Jim, Im doing great man! How about yourself? I hope everything is good for ya brother! I'll be sendin a PM your way just to chat and see how life is treating you. Ttys.

Your right on that too about the pin. I can't wait for a solid trade to come about off the daily. Other than the IBs a few days ago, I haven't seen a solid daily trade in a while.
Doing good as well Mike.

The patience game is in full play lately. Which is good because it usually pays off nicely. Trading is waiting as Bundy says.
Indicators show the past. Price Action "Indicates" the future.
  • #16,272
  • Edited 2:41pm Dec 6, 2008 2:17pm | Edited 2:41pm
Quoting tokwanden
We do have same target area sir!
I like mike w's 1.24s as well.


Edit: Pending a PB break, of course.
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Indicators show the past. Price Action "Indicates" the future.
  • #16,273
  • Dec 6, 2008 2:50pm Dec 6, 2008 2:50pm
Quoting jarroo
I like mike w's 1.24s as well.


Edit: Pending a PB break, of course.
Do you typically enter via sell a stop or retrace after the break?
I need to put up stop losses.
  • #16,274
  • Dec 6, 2008 2:56pm Dec 6, 2008 2:56pm
Quoting swap
Do you typically enter via sell a stop or retrace after the break?
I typically put a sell stop 10 to 15 pips below the break of the Pin Bar. If its sitting on S/R level and/or round number I'll place it below there.

Since its a Friday PB, Sunday nignt (EST) we may get a break and retrace so I'll be watching for that.
Indicators show the past. Price Action "Indicates" the future.
  • #16,275
  • Dec 6, 2008 3:13pm Dec 6, 2008 3:13pm
Quoting jarroo
I typically put a sell stop 10 to 15 pips below the break of the Pin Bar. If its sitting on S/R level and/or round number I'll place it below there.

Since its a Friday PB, Sunday nignt (EST) we may get a break and retrace so I'll be watching for that.
Sounds good, I do expect a retrace within the pin bar with the steep drop in the closing hours on friday and 1.2790 seems like a good place for a short if anyone's into more risky pinbar plays.

CAD rates out on tues though, hope that won't interfere with the charts too much.
I need to put up stop losses.
  • #16,276
  • Dec 6, 2008 3:39pm Dec 6, 2008 3:39pm
Quoting swap
Sounds good, I do expect a retrace within the pin bar with the steep drop in the closing hours on friday and 1.2790 seems like a good place for a short if anyone's into more risky pinbar plays.

CAD rates out on tues though, hope that won't interfere with the charts too much.
A left eye entry before the break can be very risky. As long as you have some other confluences supporting it. The left is a good area to look at after a break then retrace.

I would like to see it break and never look back.
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Indicators show the past. Price Action "Indicates" the future.
  • #16,277
  • Dec 6, 2008 9:39pm Dec 6, 2008 9:39pm
Quoting jarroo
A left eye entry before the break can be very risky. As long as you have some other confluences supporting it. The left is a good area to look at after a break then retrace.

I would like to see it break and never look back.
Dear Jarroo...

Can i get that teamplate??
I can't seem to find it in attachment...

Sonic
  • #16,278
  • Dec 6, 2008 9:41pm Dec 6, 2008 9:41pm
Quoting sonicdeejay
Dear Jarroo...

Can i get that teamplate??
I can't seem to find it in attachment...

Sonic
Sure thing.
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File Type: tpl Price.tpl   < 1 KB | 919 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #16,279
  • Dec 7, 2008 5:18am Dec 7, 2008 5:18am
Hi all,

Not much mention of the 61 & 50 fib that a break of the pb is heading into. This makes me a little nervous about entering on a pure break.

This is where my lack of experience has me 2nd guessing myself.

I'd love to know what the more experienced traders thoughts are on how much to factor the approaching fibs into this break. Perhaps the 50 fib is far enough away to get it to b/e but the 61 fib still bothers me...

I hope I've drawn my fibs in the correct location....!!!

Joe
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  • #16,280
  • Dec 7, 2008 5:55am Dec 7, 2008 5:55am
Hi

Firstly your fib is drawn upside down. Easily fixed.

How you deal with in trade management will depend on your written rules. Some will allow this room to move and not move stops too quickly and others will try capture a move to the first area of support.

cheers

FXP


Quoting drj6564
Hi all,

Not much mention of the 61 & 50 fib that a break of the pb is heading into. This makes me a little nervous about entering on a pure break.

This is where my lack of experience has me 2nd guessing myself.

I'd love to know what the more experienced traders thoughts are on how much to factor the approaching fibs into this break. Perhaps the 50 fib is far enough away to get it to b/e but the 61 fib still bothers me...

I hope I've drawn my fibs in the correct location....!!!

Joe
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