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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

  • #19,601
  • Jan 26, 2009 6:20pm Jan 26, 2009 6:20pm
Yeah, I got it on the breakout of the pinbar going down at 1.1490. Took some off with nice profit and holding remainder... Would like to see a test of 1.13 into that congestion zone. Stop to basically B/E.

Josh
  • #19,602
  • Jan 26, 2009 6:31pm Jan 26, 2009 6:31pm
Anybody watching this? 4H chart (closed at 00h00 GMT)


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  • #19,603
  • Jan 26, 2009 6:36pm Jan 26, 2009 6:36pm
I think the USD/CHF has leveled off and waiting for the big news release on Tuesday. Here's a head and shoulders on the h4 that went to the projected price almost to the pip. The pattern took a week to complete, so it isn't that strong.
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  • #19,604
  • Jan 26, 2009 7:10pm Jan 26, 2009 7:10pm
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...
It's a lovely setup ofcaorse...

My only concern was MM which is non technical, i find nothing wrong the setup whatsoever...A+

Took some off GU at 1.4 so i guess I now have the liscence...

Regards,
Ghous.
I believe . . .
  • #19,605
  • Jan 26, 2009 7:11pm Jan 26, 2009 7:11pm
Quoting trujillo1980
les't see how it goes....

Update...
Took 50% profit at 1.1414 move S/L to around BE. I'm watting price brake 1.13 then I'll decide closing remaining 50% position.

Cheers...
  • #19,606
  • Jan 26, 2009 7:12pm Jan 26, 2009 7:12pm
welcome tic.

tic has some experience in the futures markets and is just beginning to get his feet wet in the forex markets. post away and ask anything tic your in a friendly place to learn.

jim

Quoting tic
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
  • #19,607
  • Jan 26, 2009 7:17pm Jan 26, 2009 7:17pm
very nice. perfect entry and a sound knowledge of what price is likely to do

HAS ANYONE NOTICED THE MINOR PRICE FLIP AT 1400?

its just two bars but certainly a place to watch. i believe it is being tested right now.

jim




Quoting trujillo1980
les't see how it goes....
  • #19,608
  • Jan 26, 2009 7:22pm Jan 26, 2009 7:22pm
Quoting james16
very nice. perfect entry and a sound knowledge of what price is likely to do

HAS ANYONE NOTICED THE MINOR PRICE FLIP AT 1400?

its just two bars but certainly a place to watch. i believe it is being tested right now.

jim
Yeah, I'm watching that now too, as we sit near 1.14. Would like to see it fall back a bit. New to this PA stuff though, so taking it all in.

Up to post 4095 so far...Demo trading for a while yet, reading through this thread, look into PF, and am confident I can make this a career.

Thanks to James16, and also Bones, who directed me to this thread. Also, all the other regular posters.

Josh
  • #19,609
  • Jan 26, 2009 7:30pm Jan 26, 2009 7:30pm
Quoting james16
very nice. perfect entry and a sound knowledge of what price is likely to do

HAS ANYONE NOTICED THE MINOR PRICE FLIP AT 1400?

its just two bars but certainly a place to watch. i believe it is being tested right now.

jim
Yeah I noticed that as well at 1.14
Patience + Humility + Study = Success
  • #19,610
  • Jan 26, 2009 7:39pm Jan 26, 2009 7:39pm
perhaps new jd but you will never find anything easier. take your time here before considering joining. spending a month or two here first really helps in my opinion.

welcome,

jim

Quoting Jduester
Yeah, I'm watching that now too, as we sit near 1.14. Would like to see it fall back a bit. New to this PA stuff though, so taking it all in.

Up to post 4095 so far...Demo trading for a while yet, reading through this thread, look into PF, and am confident I can make this a career.

Thanks to James16, and also Bones, who directed me to this thread. Also, all the other regular posters.

Josh
  • #19,611
  • Jan 26, 2009 7:40pm Jan 26, 2009 7:40pm
great dutch,

not surprised you noticed it.

everyone go look at it on 4 hour and you will see how two bars are really more important than you think. it jumps out at you on 4 hour.

Quoting DutchTrader
Yeah I noticed that as well at 1.14
  • #19,612
  • Jan 26, 2009 8:04pm Jan 26, 2009 8:04pm
Quoting james16
very nice. perfect entry and a sound knowledge of what price is likely to do

HAS ANYONE NOTICED THE MINOR PRICE FLIP AT 1400?

its just two bars but certainly a place to watch. i believe it is being tested right now.

jim

thank you Jim, all I know I learned from you and other valuable people here at this wonderful thread.

Yes I notice that flip at 1.1400, it was one of the reason a partially took profit at that area. Also there is some kind of price consolidation on the 4H around the blue box of the cart bellow...

Regards...
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  • #19,613
  • Jan 26, 2009 8:13pm Jan 26, 2009 8:13pm
Hi,

Just a quick question for you guys. How do you consider a pin that has taken out a strong ppz level like on this 4hr with cable is that level weaker now that the price has overshot it so much or does the retracement just add to the strength of the level?

cheers
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  • #19,614
  • Jan 26, 2009 10:21pm Jan 26, 2009 10:21pm
Look like we have serious resistance @ 119.3x lvl
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  • #19,615
  • Jan 26, 2009 11:50pm Jan 26, 2009 11:50pm
Quoting Siam
Hi,

Just a quick question for you guys. How do you consider a pin that has taken out a strong ppz level like on this 4hr with cable is that level weaker now that the price has overshot it so much or does the retracement just add to the strength of the level?

cheers
What do I consider when Price moves through a PPZ level and comes back down to form a Pin Bar, at a swing high? I consider it a tradable opportunity.

A few problems with this PA setup: the 1.4050 is actually a Resistence level not a PPZ and Pin Bar's nose is much to short. I do like the level of resistence which could turn into support and strengthen the 1.4050 level. Also, the swing high could be higher. Just my thoughts.

Now watch it fall like a stone. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #19,616
  • Jan 27, 2009 12:16am Jan 27, 2009 12:16am
Quoting jarroo
What do I consider when Price moves through a PPZ level and comes back down to form a Pin Bar, at a swing high? I consider it a tradable opportunity.

A few problems with this PA setup: the 1.4050 is actually a Resistence level not a PPZ and Pin Bar's nose is much to short. I do like the level of resistence which could turn into support and strengthen the 1.4050 level. Also, the swing high could be higher. Just my thoughts.

Now watch it fall like a stone. lol
Thank's for the heads up. Things certainly seem to be going crazy around 4050 level we shall see.
  • #19,617
  • Jan 27, 2009 12:21am Jan 27, 2009 12:21am
Hey everyone! Am new to forex, and hoping I can learn as much as possible asap! Will be following this thread as it seems to have helped a lot of people. Hope to learn as much as I can here, and hopefully will be able to contribute soon as well Gl all.
  • #19,618
  • Jan 27, 2009 12:27am Jan 27, 2009 12:27am
WELCOME JL,

jim

Quoting Jlr
Hey everyone! Am new to forex, and hoping I can learn as much as possible asap! Will be following this thread as it seems to have helped a lot of people. Hope to learn as much as I can here, and hopefully will be able to contribute soon as well Gl all.
  • #19,619
  • Jan 27, 2009 12:30am Jan 27, 2009 12:30am
Quoting Siam
Hi,

Just a quick question for you guys. How do you consider a pin that has taken out a strong ppz level like on this 4hr with cable is that level weaker now that the price has overshot it so much or does the retracement just add to the strength of the level?

cheers
Hey,

To me personally I like it better when pins have PPZ running through their noses, In my eyes thats going to hold as support/resistance and help protect my stop. But i don't differentiate if say . . The nose has bounced and not even touched the PPZ or a pin bar like the one you have on your chart.

I didn't get that on my feed, I highlighted the bar that I think it is , but even if it was any of the other bars I still wouldn't have been taking it.

1) It's sitting on the support (See Chart)
2) I didn't like the form of the bar on your feed whatsoever. (Nose could be longer, I didn't like the close of it either)
3) I have long bias on cable (Look at the daily PA) and I am currenly long anyway.

Just my 2pips bro, actually someone better than me will probably answer it for you lol

EDIT: Lol , Jarroo got there before me
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  • #19,620
  • Jan 27, 2009 12:39am Jan 27, 2009 12:39am
Quoting Jigsaw
Hey,

To me personally I like it better when pins have PPZ running through their noses, In my eyes thats going to hold as support/resistance and help protect my stop. But i don't differentiate if say . . The nose has bounced and not even touched the PPZ or a pin bar like the one you have on your chart.

I didn't get that on my feed, I highlighted the bar that I think it is , but even if it was any of the other bars I still wouldn't have been taking it.

1) It's sitting on the support (See Chart)
2) I didn't like the form of the bar on your feed...

I like the 1.4000 as resistence then turning into support better then the 1.4050 as well, Jig.
Indicators show the past. Price Action "Indicates" the future.
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