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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

  • #18,821
  • Jan 16, 2009 5:25am Jan 16, 2009 5:25am
Hello everyone, long time no post here so heres my euro and swissey charts.

Confirmed bullish divergence on euro with a minimum must reach target of 1.3800 which is a resistance level by itself. Euro is just below resistance @ 1.3300 so my simple take is buy above it and watch the descending TL once/if the price approches it for reversal signs.

Swissey just above support @ 1.11320 in a 150 pip range ascending channel. As euro and swissey move opposite one from another so i will be selling below support with a target @ 1.0836
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  • #18,822
  • Jan 16, 2009 5:26am Jan 16, 2009 5:26am
Good morning y'all.
I'm looking at a 4h EUR/GBP, and rather than concentrating on the pinbar which may be forming, I'm trying to get a feel on whether the location would be good. Has anybody got any observations on this one?
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  • #18,823
  • Jan 16, 2009 5:35am Jan 16, 2009 5:35am
Quoting Shermenator
Here is one of my current short at resistance

Attachment
I hope you were quick with your stop. I am wondering if you read the thread because that didn't look like a trade we take here. Am I missing something or did you have some pa setup on a lower tf?
  • #18,824
  • Jan 16, 2009 5:38am Jan 16, 2009 5:38am
Quoting HipsterPipster
I hope you were quick with your stop. I am wondering if you read the thread because that didn't look like a trade we take here. Am I missing something or did you have some pa setup on a lower tf?
yep took a small hit ...and I trade primerely support and resistance
  • #18,825
  • Jan 16, 2009 5:38am Jan 16, 2009 5:38am
Quoting Interceptor
Good morning y'all.
I'm looking at a 4h EUR/GBP, and rather than concentrating on the pinbar which may be forming, I'm trying to get a feel on whether the location would be good. Has anybody got any observations on this one?
All that I have is the pair of daily bar lows from 11 - 12 Jan. Not enough confluence IMO to be going against such a strong downtrend...

Regards,
Ghous.
I believe . . .
  • #18,826
  • Jan 16, 2009 5:40am Jan 16, 2009 5:40am
Quoting RedA
Thanks for the answer Ghous.
You make me much clear now. Before, I was searching the PA patterns for an entry. As far as I understand, you always first search for the ppz, r/s level in the big tf. And waiting for the PA around that levle to confirm a trend where the price may head north or south. Am I right?
You got it, you got it...

Regards,
Ghous.
I believe . . .
  • #18,827
  • Jan 16, 2009 5:43am Jan 16, 2009 5:43am
Quoting ghous
All that I have is the pair of daily bar lows from 11 - 12 Jan. Not enough confluence IMO to be going against such a strong downtrend...

Regards,
Ghous.
Theres also a lower ascending TL that is the last line of defense. Last low and TL taken out and we drop again. But we have bullish HD divergence on dayly that needs to play out.
  • #18,828
  • Jan 16, 2009 5:45am Jan 16, 2009 5:45am
Quoting belekas
Theres also a lower ascending TL that is the last line of defense. Last low and TL taken out and we drop again. But we have bullish HD divergence on dayly that needs to play out.
I'll watch it on the sidelines, the trade for me is just very far from tradable, not to say it can't work out...

I am looking at your setup on the 4H, if it develops into a pin bar on the daily that would be something totally differnet, in short a new chart to look at
I believe . . .
  • #18,829
  • Jan 16, 2009 5:47am Jan 16, 2009 5:47am
Quoting ghous
I'll watch it on the sidelines, the trade for me is just very far from tradable, not to say it can't work out...
Yep. All eyez on fiber and swissey right now
  • #18,830
  • Jan 16, 2009 5:52am Jan 16, 2009 5:52am
Thanks for that.
It's a bit like the 'finger pointing at the moon' analogy this.
I keep staring at the wrong things!
  • #18,831
  • Jan 16, 2009 5:54am Jan 16, 2009 5:54am
Quoting belekas
Yep. All eyez on fiber and swissey right now
My descision or for that matter anybody's descision (may it be James16) should never be the dirving force for antry or exit into a trade, if you find the confluence location etc good enogh "for your criteria" go for it...

The biggest mistake that you're vulnerable to is that before you read my post you were perhaps looking forward to the trade but after you read that I was'nt taking it you wanted to pass it too. Now replace me with Jarroo, Rac or james16 and you could have absoluetly busted your thought no matter how valid your thinking was...

Learn to trust yourelf, and you'll do good

Regards,
Ghous.
I believe . . .
  • #18,832
  • Jan 16, 2009 5:57am Jan 16, 2009 5:57am
Quoting jarroo
PB on the Euro. 1.3300 1st target. Like to see Price pass that level and turn into support.
1st target hit, good for 56 pips. Moved to break even. Not the best looking PB but Location and PPZ made up the indifference.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #18,833
  • Jan 16, 2009 6:00am Jan 16, 2009 6:00am
Quoting jarroo
1st target hit, good for 56 pips. Moved to break even. Not the best looking PB but Location and PPZ made up the indifference.
Hi jaroo. Looking good If 1.3300 gives way what is the next resistance area on your chart? Should be a decent run up i think if its taken out.
  • #18,834
  • Jan 16, 2009 6:09am Jan 16, 2009 6:09am
Quoting ghous
Hi Cap,

I've seen you around Malaysia thread...welcome aboard

Let's start dealing with any of the questions you have? have you gone through the thread as yet?

PS is that you in your avator??

Regards,
Ghous.
ya.. I started knowing everything basic from there....

i just get ucad today n... after see somebody mention here it make me more confident with my position...http://www.forexfactory.com/images/icons/icon14.gif

p/s that avatar si me... handsome or not http://www.forexfactory.com/images/icons/icon10.gif
  • #18,835
  • Jan 16, 2009 6:12am Jan 16, 2009 6:12am
Quoting belekas
Hi jaroo. Looking good If 1.3300 gives way what is the next resistance area on your chart? Should be a decent run up i think if its taken out.
I'm looking at the 1.3400, but I would like to see the 1.3300 act as support.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #18,836
  • Jan 16, 2009 6:21am Jan 16, 2009 6:21am
Quoting jarroo
I'm looking at the 1.3400, but I would like to see the 1.3300 act as support.
I see. Whats the minimal TF you drill down to confirm the entry if i may ask? As i see your posts in 4hr and dayly, but as i was here long time ago, so i might be wrong.
  • #18,837
  • Jan 16, 2009 6:22am Jan 16, 2009 6:22am
Ghous,

Another entry, focusing on this way of trade. Im more relax now..



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CHF/JPY

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GBP/CHF
  • #18,838
  • Jan 16, 2009 6:24am Jan 16, 2009 6:24am
Quoting belekas
I see. Whats the minimal TF you drill down to confirm the entry if i may ask? As i see your posts in 4hr and dayly, but as i was here long time ago, so i might be wrong.
I'll go down to the hourly sometimes but mainly 4 hour, Daily and Weekly.
Indicators show the past. Price Action "Indicates" the future.
  • #18,839
  • Jan 16, 2009 6:29am Jan 16, 2009 6:29am
Quoting jarroo
I'll go down to the hourly sometimes but mainly 4 hour, Daily and Weekly.
Thanks for your answer mate
  • #18,840
  • Edited 7:26am Jan 16, 2009 6:38am | Edited 7:26am
4hr pinbar forming on geppy right of the descending TL and 50% fibo. Might be interesting it it closes like this Anyone else observing the same view?
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