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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

  • #19,581
  • Jan 26, 2009 12:02pm Jan 26, 2009 12:02pm
Quoting raczekfx
Right, it's a third test so anything is possible, but if it was fourth, I would gamble on its holding up...

Observation, practice, repetition... That's how we learn and develop proper mind set...
It's time to sit back, relax and enjoy yen , getting weaker and weaker..... I wonder if we get any shakeout first
I always use a little shake n bake before I fry my fish. The way the daily chart looks on usd/jpy, my guess is it may get a little hot.
  • #19,582
  • Jan 26, 2009 12:06pm Jan 26, 2009 12:06pm
hope i drew the support/resistance well
cheers
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Simplicity is the key to success
  • #19,583
  • Jan 26, 2009 12:11pm Jan 26, 2009 12:11pm
Quoting squeezy
hope i drew the support/resistance well
cheers
yep your s/r looks good. Might see a pull back to 1.3 ppz first, or not. I might only make one recommendation as per James. You will do yourself a great thing if you start on the daily/weekly. Things are much easier to understand and it is the best thing those new to this material can do to benefit from.

Best
Mike
  • #19,584
  • Jan 26, 2009 12:21pm Jan 26, 2009 12:21pm
Quoting mbqb11
yep your s/r looks good. Might see a pull back to 1.3 ppz first, or not. I might only make one recommendation as per James. You will do yourself a great thing if you start on the daily/weekly. Things are much easier to understand and it is the best thing those new to this material can do to benefit from.

Best
Mike
thnx mike,
ur words r truly golden
ill switch them now to daily and redraw my s/r levels
ill repost the chart but itll be daily
pls wat else do u think i need to work on apart from pa, divergence and s/r levels or am i ok wit these
Simplicity is the key to success
  • #19,585
  • Jan 26, 2009 12:24pm Jan 26, 2009 12:24pm
Quoting squeezy
thnx mike,
ur words r truly golden
ill switch them now to daily and redraw my s/r levels
ill repost the chart but itll be daily
pls wat else do u think i need to work on apart from pa, divergence and s/r levels or am i ok wit these
If you practice just PA + S/R + PPZs(line up with rd numbers). That is all you need. You can use some confluence of properly drawn fibs/MAs if you prefer. But focus on learning to identify key s/r areas and how to read PA and if you take only the best looking trades. You will learn this business much faster. The rest is fighting your ego(discipline /greed/ patience etc). Of course proper MM should go without saying.

You sound like you are on the right path with a willingness to learn and that will take you a far way. Of course the finish line is up to you

Mike
  • #19,586
  • Jan 26, 2009 12:31pm Jan 26, 2009 12:31pm
Quoting mbqb11
If you practice just PA + S/R...
i thought s/r and ppz were the same thing
i know how to draw fibs pretty well
which mas do u use
yeah! i bliv im on the right path.....trying to turn trading to full time, with all the unemployment around, best way to be my own boss

thnx
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Simplicity is the key to success
  • #19,587
  • Jan 26, 2009 12:47pm Jan 26, 2009 12:47pm
Ghous - How could you not like the look of the CAD/CHF chart.

I've been watching it for a few hours now (in between test driving cars). Add a powerful bearish MACD divergance to your list of reasons to trade- whether or not it plays out well is anohter story, but you never know until after the fact.

i'll be playing this puppy. It has plenty of room to fall too...
  • #19,588
  • Jan 26, 2009 12:51pm Jan 26, 2009 12:51pm
Hi guys
What do u think about this PB (AUDJPY,H4)? PPZ and 50 fib retracement confluence.
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  • #19,589
  • Jan 26, 2009 1:05pm Jan 26, 2009 1:05pm
The thing that toubles me on this one is the daily chart, which is forming a bullish engulfing pattern on a deccent support line preceded by some pretty major rejections of the lower price. Longer time frame wins for me all the time unless you're really quick with your take profit. There's also quite a bit of noise on the way down on H4. I like to see plenty of open space for a big crash landing. Good luck if you're already in. I'm always happy to be proven wrong if it means you do ok out of it. Thanks for sharing
  • #19,590
  • Jan 26, 2009 1:28pm Jan 26, 2009 1:28pm
Quoting ghous
here's another nice looking setup i caught my eyes on, looks like they're poppin up anywhere you wanna hav em'

It's a lovely pin bar off great location IMO...

Chart 1: Trendline and ppz confleunce.

Chart 2: Fib confluence.

combine the 2 and you're ponerding over your trade appetite, will see if mine will allow me to take this one...

Regards,
Ghous.
Talking about this?
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  • #19,591
  • Jan 26, 2009 1:35pm Jan 26, 2009 1:35pm
Quoting alter
Hi guys
What do u think about this PB (AUDJPY,H4)? PPZ and 50 fib retracement confluence.
I'll agree with Taxhaven.
This one is in a traffic area imo. I also see 58.00ish as support nearby.

Tom
  • #19,592
  • Jan 26, 2009 2:21pm Jan 26, 2009 2:21pm
Hi Guys

Struggling a bit to see any good setups today - has anyone got any good setups in their sights? Fairly often people post good setups here but on my feed they are slightly different! Anyone else using VT to trade? I use it because I am used to it but was wondering if I will benefit by switching to MT4? Any advice welcome,

berti
PA is where its at!!
  • #19,593
  • Jan 26, 2009 2:29pm Jan 26, 2009 2:29pm
Quoting squeezy
i thought s/r and ppz were the same thing
i know how to draw fibs pretty well
which mas do u use
yeah! i bliv im on the right path.....trying to turn trading to full time, with all the unemployment around, best way to be my own boss

thnx
Yes PPZ are just s/r when they flip and you have both. I don't use any MAs personally, you will find a lot of people here use the 150, 365 emas. They aren't magic but can help with confluence and getting a general sense of the market.

Take care
Mike
  • #19,594
  • Jan 26, 2009 2:29pm Jan 26, 2009 2:29pm
Here comes that 38.2% retrace and 1.1200.
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  • #19,595
  • Jan 26, 2009 2:39pm Jan 26, 2009 2:39pm
Quoting Taxhaven
Ghous - How could you not like the look of the CAD/CHF chart.

I've been watching it for a few hours now (in between test driving cars). Add a powerful bearish MACD divergance to your list of reasons to trade- whether or not it plays out well is anohter story, but you never know until after the fact.

i'll be playing this puppy. It has plenty of room to fall too...
i'm watching this one too . . .
"Don't trade to trade . . . trade to win." - James16
  • #19,596
  • Jan 26, 2009 2:53pm Jan 26, 2009 2:53pm
I caught that rip on usd/chf today BOOOH YA

Thanks to all at J16
  • #19,597
  • Jan 26, 2009 3:50pm Jan 26, 2009 3:50pm
I'm looking at the pin on CAD/CHF also. I'm not sure if this was mentioned before but it looks like this bar is going to close below the 31.8 and 50% fib confluence.

Also looks like it is going to close below the ppz. What do you guys think?
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  • #19,598
  • Jan 26, 2009 4:22pm Jan 26, 2009 4:22pm
chart
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  • #19,599
  • Jan 26, 2009 5:29pm Jan 26, 2009 5:29pm
Hi Jim, Thanks for the PM reply.

My first post in the Forum and the usual mega thanks for all those involved are passed accordingly :-)

I thought I would folow up my PM with some action - so here is one of my current positions - DLHC half already out at the first rejection of the upper blue bar (pls ignore the MAs), holding the rest until for either break long and review at 0.68(ish) or 0.6533 stop in profit.

Great work all - really impressed

Tic
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wash, rinse, spin . . . repeat
  • #19,600
  • Jan 26, 2009 6:13pm Jan 26, 2009 6:13pm
Quoting NoBread
I caught that rip on usd/chf today BOOOH YA

Thanks to all at J16

I knew it was going south when I saw those weird gap ups on Sunday That was just the icing, that setup had so much going for it. Congrats to all who got in.
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