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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

  • #18,721
  • Jan 15, 2009 4:11pm Jan 15, 2009 4:11pm
Quoting sertio
day is finished here and usdcad daily is a bit short of a nice pinbar. is anybody having a pinbar? i am willing to pretend im in a different timezone
Play'em as you see them.
If its not fitting your criterior for a trade then thats your answer. dont force it
  • #18,722
  • Jan 15, 2009 4:25pm Jan 15, 2009 4:25pm
Quoting G550
Question for ya, Rac. A bullish outside bar has already formed on dollar/yen. Given the pin on the dow, a break of the pin higher would typically yield strength in the dollar/yen. Would you consider going long on the next daily candle to be risky? Or would you wait for what will be today's high to form then go long above that?

Also, where do you get your dow charts?
well, I'm already in g/j, g/u, e/j and u/j from the bottom of today's swing low (recorded in the pf), but I will consider adding more when proper PA forms.
fxpro - strictly for charting on FF
  • #18,723
  • Jan 15, 2009 4:38pm Jan 15, 2009 4:38pm
Quoting G550

Also, where do you get your dow charts?
Water House Capital has a crap-ton of currency, commodity, and stock capabilities (including the indexes). They are MT4 capable, and their demo option makes for good charting abilities.

Just FYI.
PipMasterFlex
  • #18,724
  • Jan 15, 2009 4:38pm Jan 15, 2009 4:38pm
Quoting raczekfx
well, I'm already in g/j, g/u, e/j and u/j from the bottom of today's swing low (recorded in the pf), but I will consider adding more when proper PA forms.
fxpro - strictly for charting on FF
Would you not consider the BUOB as proper PA?
  • #18,725
  • Jan 15, 2009 4:39pm Jan 15, 2009 4:39pm
NZDJPY
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  • #18,726
  • Jan 15, 2009 4:44pm Jan 15, 2009 4:44pm
Quoting isufreak24
Water House Capital has a crap-ton of currency, commodity, and stock capabilities (including the indexes). They are MT4 capable, and their demo option makes for good charting abilities.

Just FYI.
Thanks for the info!
  • #18,727
  • Jan 15, 2009 4:53pm Jan 15, 2009 4:53pm
Quoting G550
Would you not consider the BUOB as proper PA?
not until it break to the upside. And this one could be tricky, price is sitting right on ppz, so I might wait for break and pullback.
Attached Image
  • #18,728
  • Jan 15, 2009 5:27pm Jan 15, 2009 5:27pm
After seeing quite a few setups, I eventually ended up only taking two live trades. I have three trades in demo and passed on the rest, took a while to sort through but I am pretty confident in the trades I decided to take and have feeling of 'missing out' on some of those I passed but I know I did the right thing by passing. EU pin, Gold pin, and ECHF IB are on my demo right now.

Live Nzd/U: pin at bottom ppz, clear swing, minor divergence. Don't like that its against trend, will be managing much tighter.
U/Cad: pin at swing off ppz, with clearer divergence and looks to be with the trend. Don't like the bit of traffic at 1.2300 (will get to BE).
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  • #18,729
  • Jan 15, 2009 5:29pm Jan 15, 2009 5:29pm
Quoting raczekfx
not until it break to the upside. And this one could be tricky, price is sitting right on ppz, so I might wait for break and pullback.
I see. Thanks for the explanation.
  • #18,730
  • Jan 15, 2009 6:12pm Jan 15, 2009 6:12pm
Quoting fxprocessor
NZDJPY
Hey fxproc,
You beat me to it, was exporting and about to post, and saw u already spotted it.

REgards Mr Smith
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  • #18,731
  • Jan 15, 2009 6:17pm Jan 15, 2009 6:17pm
NZDUSD IBFX DATAFEED PIN TRADE

CONFLUENCE OF REASONZ

1. Good Pin size
2. Good location
3. PPZ
4. Possible Right hand of crown formation
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  • #18,732
  • Jan 15, 2009 6:24pm Jan 15, 2009 6:24pm
Quoting Naijafx
NZDUSD IBFX DATAFEED PIN TRADE

CONFLUENCE OF REASONZ

1. Good Pin size
2. Good location
3. PPZ
4. Possible Right hand of crown formation
nice setup, im playing this as well.
  • #18,733
  • Jan 15, 2009 6:35pm Jan 15, 2009 6:35pm
Quoting ghous
PA (location + shape) + with the trend + supp/res confluence =

It's great to be back!

Regards,
Ghous.

A silly question.

How do you define the PPZ?
use some indicator or draw your own? I don't think it is just link the highs and lows that simple? Different people may draw different ppz, that makes a whole difference.
  • #18,734
  • Jan 15, 2009 7:00pm Jan 15, 2009 7:00pm
Quoting RedA
A silly question.

How do you define the PPZ?
use some indicator or draw your own? I don't think it is just link the highs and lows that simple? Different people may draw different ppz, that makes a whole difference.
Hey Red,

Look for price flips....sometimes when you are starting out it is easier to see them on a line chart and draw them in.

Area's where support turns to resistance....you'll find price will react at the areas.
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  • #18,735
  • Jan 15, 2009 7:37pm Jan 15, 2009 7:37pm
Quoting RedA
A silly question.

How do you define the PPZ?
use some indicator or draw your own? I don't think it is just link the highs and lows that simple? Different people may draw different ppz, that makes a whole difference.
To add to T. I usually have both some price levels and zones. My zones are usually made up of an area of multiple price levels that price has respected vs a level is a little more obvious. Note, click on the image to magnify it.
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  • #18,736
  • Jan 15, 2009 7:43pm Jan 15, 2009 7:43pm
Quoting stoli7188
After seeing quite a few setups, I eventually ended up only taking two live trades....

I not an expert, but IMO is not a PB as we learn here...but it is in a good place to trade, to be honest I din't take it just because price didn't close lower to form a good PB for me. (I was praying to close lower and form a good PB )
  • #18,737
  • Jan 15, 2009 7:45pm Jan 15, 2009 7:45pm
Quoting Mr Smith
Hey fxproc,
You beat me to it, was exporting and about to post, and saw u already spotted it.

REgards Mr Smith
Have you set a S/L for this one? I can't see it on the chart...

Regards...
  • #18,738
  • Jan 15, 2009 7:49pm Jan 15, 2009 7:49pm
Quoting trujillo1980
Have you set a S/L for this one? I can't see it on the chart...

Regards...
no stop needed, haha, just jking,

stop is at 4685, I had not placed stop at time of posting. No rush to get my stop in place with these daily setups.
  • #18,739
  • Jan 15, 2009 7:58pm Jan 15, 2009 7:58pm
Quoting Mr Smith
no stop needed, haha, just jking,

stop is at 4685, I had not placed stop at time of posting. No rush to get my stop in place with these daily setups.
...I see...can you post a reason why you set your S/L at 46.85???

I set at 47.50 30 pips lower than the low of the left eye and just lower than 61 fib. of the PB itselft.

Regards
  • #18,740
  • Jan 15, 2009 8:11pm Jan 15, 2009 8:11pm
Hipster

Re your comment in not entering off this pinbar.Is this because of the support at around 12125?Appreciate your advice.

Gerard
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