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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

  • #17,421
  • Dec 22, 2008 5:18pm Dec 22, 2008 5:18pm
Quoting djambazov84
Good evening all,

Any thoughts about the daily pin on EU ?
Hi djambazov84

Are you talking about todays bar? If you are then it is an inside bar.

cheers

FXP
  • #17,422
  • Dec 22, 2008 6:11pm Dec 22, 2008 6:11pm
Quoting jarroo
Bars or Candles just a personal preference. PF is always going strong. Not sure on the stats.
Thanks for the quick reply jarroo. Reason I asked is I am considering joining the PF to learn primarily PA trading longer time frames. I work a full time+ career job and just don't have the time required to sit and watch the smaller time frames. Daily's and weekly's sound a bit more my pace for now. The M5 is killing me for time. On top of that I live on the east coast so most of the action is flat when I do get a chance to look. I have tried getting up at 3:00 AM to study the action and when I do, it's short lived because I have to be at work early as well. I just don't see any way of getting into any kind of rhythm trying to learn like this.

Bob
  • #17,423
  • Dec 22, 2008 7:24pm Dec 22, 2008 7:24pm
Quoting Digger48
I work a full time+ career job and just don't have the time required to sit and watch the smaller time frames.
The same circumstance confined me to daily and forced me to only take the best setups (which I learned in public and private) not out of self restraint but out of my own lack of idle time suddenly when things got busy for me.
When you only have a few seconds per day to glance and you know what to look for, and you have bigger things to worry about and can't sit looking for something in the clouds, the charts become unmuddied and things start working out finally.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #17,424
  • Dec 22, 2008 8:28pm Dec 22, 2008 8:28pm
Quoting djambazov84
Good evening all,

Any thoughts about the daily pin on EU ?
Gotta chart??
Indicators show the past. Price Action "Indicates" the future.
  • #17,425
  • Dec 22, 2008 8:49pm Dec 22, 2008 8:49pm
Quoting jarroo
Gotta chart??
Yes. Wait until after Non-Farm Payroll Friday to place any new trades. It's the holidays, and nobody is out there trading.

Leave it be until then.
  • #17,426
  • Dec 22, 2008 9:19pm Dec 22, 2008 9:19pm
Quoting clockwork71
Yes. Wait until after Non-Farm Payroll Friday to place any new trades. It's the holidays, and nobody is out there trading.

Leave it be until then.
Doesn't mean we're trading, just studying. The more we see, the more we understand. The more we understand the better we get.

Just practising my friend. That's all.
Indicators show the past. Price Action "Indicates" the future.
  • #17,427
  • Dec 22, 2008 9:28pm Dec 22, 2008 9:28pm
Jarroo,

Here's the chart Djam was talking about. Inside bar that is shaped like a pinbar.
Attached Image(s) (click to enlarge)
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  • #17,428
  • Dec 22, 2008 9:30pm Dec 22, 2008 9:30pm
Jarroo...
Attached Image (click to enlarge)
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  • #17,429
  • Dec 22, 2008 9:36pm Dec 22, 2008 9:36pm
Guys,

I smell confusing for EU. Its look alike a clear PB on yesterday candle. Any commentS?
  • #17,430
  • Dec 22, 2008 9:43pm Dec 22, 2008 9:43pm
John,

If you ignore sunday's bar, monday was an inside day. Monday's high was lower than friday's high and monday's low was higher than friday's low. Therefor monday's range was inside friday's range. I hope this helps.
  • #17,431
  • Dec 22, 2008 9:52pm Dec 22, 2008 9:52pm
Quoting davema
John,

If you ignore sunday's bar, monday was an inside day. Monday's high was lower than friday's high and monday's low was higher than friday's low. Therefor monday's range was inside friday's range. I hope this helps.
Davema,

Thanks but i can you show better explanation in charts??? Thanks much!!!
  • #17,432
  • Dec 22, 2008 9:56pm Dec 22, 2008 9:56pm
Quoting jarroo
Doesn't mean we're trading, just studying. The more we see, the more we understand. The more we understand the better we get.

Just practising my friend. That's all.

Thousands apologies !!

Was watching a show with my gf....

Here is the chart I am referring to:
Attached Image (click to enlarge)
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #17,433
  • Dec 22, 2008 10:08pm Dec 22, 2008 10:08pm
My SELL limit on EJ...
Any advice?

I had my EJ long on 50% retracement yesterday..(see arow)

Sonic

http://www.forexfactory.com/attachme...1&d=1230004937
  • #17,434
  • Dec 22, 2008 10:37pm Dec 22, 2008 10:37pm
Quoting sonicdeejay
My SELL limit on EJ...
Any advice?

I had my EJ long on 50% retracement yesterday..(see arow)
Sell? without PA...and before Christmas...

.
How's 134 looking on your charts, or better yet 146?
.
Attached Image
  • #17,435
  • Dec 23, 2008 12:34am Dec 23, 2008 12:34am
CHF/JPY...
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I believe . . .
  • #17,436
  • Dec 23, 2008 12:43am Dec 23, 2008 12:43am
Quoting raczekfx
Sell? without PA...and before Christmas...

.
How's 134 looking on your charts, or better yet 146?
.
thx...

Sonic
  • #17,437
  • Edited 6:31pm Dec 23, 2008 12:45am | Edited 6:31pm
Quoting djambazov84
Thousands apologies !!

Was watching a show with my gf....

Here is the chart I am referring to:
No apologies necessary djam. We here at the James16 Chart Thread are always studying and learning the ins and outs of Price Action. What better way to illustrate our questions than with a chart.

As others have said, this is an Inside Bar (orange candle). (Sunday Bars are ignored).
IBs are a Price Action formation and there are diferent ways to play them.

One way is to take the break of the Low in a down trend and the break of the High in an up trend. Which could be risky if we don't have supporting confluences of Location, PPZ levels, Fib levels, Round Numbers, Price Action on higher time frames, etc.

The Pin Bar in blue meets all the required confluences of a Price Action trade. And you can see how well it worked.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #17,438
  • Dec 23, 2008 1:01am Dec 23, 2008 1:01am
Quoting ghous
CHF/JPY...
Tough trade ghous. I like everything about it except the one important confluence that everyone talks about . . . . Location.

If this was at a Swing High/Low then we're talking about a higher probability trade.

Funny thing . . I thought Location, Location, Location was just in Real Estate. lol
Indicators show the past. Price Action "Indicates" the future.
  • #17,439
  • Dec 23, 2008 1:14am Dec 23, 2008 1:14am
Quoting jarroo
Tough trade ghous. I like everything about it except the one important confluence that everyone talks about . . . . Location.

If this was at a Swing High/Low then we're talking about a higher probability trade.

Funny thing . . I thought Location, Location, Location was just in Real Estate. lol
LOL! Yeah it was'nt at a swing high/low, let's see how this fans out, I am in with less than usual trade volume and ready to lock in profits quickly.

Regards,
Ghous.
I believe . . .
  • #17,440
  • Dec 23, 2008 1:19am Dec 23, 2008 1:19am
Quoting ghous
LOL! Yeah it was'nt at a swing high/low, let's see how this fans out, I am in with less than usual trade volume and ready to lock in profits quickly.

Regards,
Ghous.
Nothing wrong with a little practise ghous.

Clockwork71 has given some sound advise which I will probably take.
Indicators show the past. Price Action "Indicates" the future.
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