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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

  • #20,621
  • Feb 5, 2009 3:25pm Feb 5, 2009 3:25pm
Quoting jarroo
Mr. Mike. How's going buddy. That pretty girl keeping you busy. lol

Should be interesting how the News tomorrow will play out with the Beast. I'm liking that 130.00-131.00 as well.

Jim
Oh it's goin great my man! I'll shoot you a PM sometime soon to catch up, but yeah she is too. lol Have a good one brother.
I dream, therefore I become.
  • #20,622
  • Feb 5, 2009 3:53pm Feb 5, 2009 3:53pm
great spot to look for price action

you seriously don't need anything else on your charts, sure if you want to have some fibs or MAs for some confluence


Mike
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  • #20,623
  • Feb 5, 2009 4:00pm Feb 5, 2009 4:00pm
Quoting mike w
Oh it's goin great my man! I'll shoot you a PM sometime soon to catch up, but yeah she is too. lol Have a good one brother.

Mike W,
What does the small writing say on your Avatar?

Potential...

Josh
  • #20,624
  • Feb 5, 2009 4:17pm Feb 5, 2009 4:17pm
Quoting mbqb11
great spot to look for price action

you seriously don't need anything else on your charts, sure if you want to have some fibs or MAs for some confluence


Mike
Question on the Chart (got that software now ) PA confirmation of a Breakout of the 125 ?
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  • #20,625
  • Feb 5, 2009 4:20pm Feb 5, 2009 4:20pm
Quoting Jigsaw
Question on the Chart (got that software now ) PA confirmation of a Breakout of the 125 ?
sorry that was from an old post of a 1hr arrow BUOB off 125 ppz zone flip

here was that trade


ps Jig waiting for that PM
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  • #20,626
  • Feb 5, 2009 4:22pm Feb 5, 2009 4:22pm
Hi guys

Anyone thinking of taking this pin on G/J?

1. Off ppz at 135
2. Swing High
3. Loads of space

Seems like good set up to me. Any comments most welcome!
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PA is where its at!!
  • #20,627
  • Feb 5, 2009 4:25pm Feb 5, 2009 4:25pm
Quoting Jduester
Mike W,
What does the small writing say on your Avatar?

Potential...

Josh
Hey Josh, it says "not everyone gets to be an astronaut when they grow up". haha I think they are pretty funny. I got it from a site called www.despair.com. They sell the demotivators in different formats, but you can find them anywhere on the net.

(That's not a promo, I was just answering the question. Besides I think they are highly overpriced when you could just make the stuff yourself for free if you have a good printer).
I dream, therefore I become.
  • #20,628
  • Feb 5, 2009 4:28pm Feb 5, 2009 4:28pm
Quoting mbqb11
great spot to look for price action

you seriously don't need anything else on your charts, sure if you want to have some fibs or MAs for some confluence


Mike
Nice
  • #20,629
  • Feb 5, 2009 4:30pm Feb 5, 2009 4:30pm
Quoting mbqb11
sorry that was from an old post of a 1hr arrow BUOB off 125 ppz zone flip

here was that trade


ps Jig waiting for that PM
Damn, got sidetracked. Sent !
  • #20,630
  • Feb 5, 2009 4:31pm Feb 5, 2009 4:31pm
Quoting mike w
Hey Josh, it says "not everyone gets to be an astronaut when they grow up". haha I think they are pretty funny. I got it from a site called www.despair.com. They sell the demotivators in different formats, but you can find them anywhere on the net.

(That's not a promo, I was just answering the question. Besides I think they are highly overpriced when you could just make the stuff yourself for free if you have a good printer).
LOL they sell the demotivators ? Thats madness . . .

http://liveallout.com/of_the_week/de.../potential.jpg
  • #20,631
  • Feb 5, 2009 4:32pm Feb 5, 2009 4:32pm
After the break higher of 125 this buob off the 125 round number is a retest of that area.
we then moved up to 130 back again with another pin off 125. it happens alot at the round numbers.
now we have broken convincingly the 130, look for a retest. & repeat..
  • #20,632
  • Feb 5, 2009 4:34pm Feb 5, 2009 4:34pm
Hi guys,

I got few questions to ask. Basically this kind of situation confused me a lot.
Before that, the chart that I show is 4H charts but I look at daily and then find PA on daily PPZ. Don't look below H4.

Chart #1 (NZDUSD)

What do you guys think about the BUOB? If it breaks, would you guys take it as there is congestion areas marked with blue.

Chart #2 (USDCHF)

The trade I'm currently in. Entered on BUOB on H4. Any comments about the pros and cons of this trade. I noticed the round number 1.800 (daily PPZ), my first target.

Chart #3 (CADCHF)

PB on H4, off daily PPZ. Though the size is small but I think the location is good. Triple top, divergence, off daily PPZ. Any pros and cons?

Thanks. Sorry for too much question in 1 post. Just been able to look charts now.

p.s: sorry for the bad english lol in hurry to recheck.
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  • #20,633
  • Feb 5, 2009 4:39pm Feb 5, 2009 4:39pm
Quoting rustyjeff
After the break higher of 125 this buob off the 125 round number is a retest of that area.
we then moved up to 130 back again with another pin off 125. it happens alot at the round numbers.
now we have broken convincingly the 130, look for a retest. & repeat..
Jeff knows his stuff
  • #20,634
  • Feb 5, 2009 4:41pm Feb 5, 2009 4:41pm
Mike,

Can you tell me if the chart in post 20627 looks like a good setup?
PA is where its at!!
  • #20,635
  • Feb 5, 2009 4:50pm Feb 5, 2009 4:50pm
Quoting bertie123
Mike,

Can you tell me if the chart in post 20627 looks like a good setup?
Hey Bertie

While I don't have a pin on my chart here is my analysis

Gbp overall made big moves across the board today. So that pin could be nothing more then the pause before the next move. What i mean is that pin to me is not in a strong enough place to warrant a trade on my own. One might take a pin like that back to the strong PPZ area which like gbp/jpy is under us and in this case at the 1.4500 area as depicted on my chart. So where do I see the best opportunity? Again down at the PPZ flip of 1.4500

Just my take

Mike
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  • #20,636
  • Feb 5, 2009 5:02pm Feb 5, 2009 5:02pm
while Mike has been on the gbp. here's another to keep an eye on.
gbpchf has broken the 169 level. how high it goes i dont know but 175 looks good.
I'll be looking for pa around the 169 area for a retest
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  • #20,637
  • Feb 5, 2009 5:06pm Feb 5, 2009 5:06pm
Hey Arcus

My answers below in bold


Quoting arcus
Hi guys,

I got few questions to ask. Basically this kind of situation confused me a lot.
Before that, the chart that I show is 4H charts but I look at daily and then find PA on daily PPZ. Don't look below H4.

Chart #1 (NZDUSD)

What do you guys think about the BUOB? If it breaks, would you guys take it as there is congestion areas marked with blue.

Yep You marked off exactly what the problem would be trading into that. Generally these bars are to be played at swing lows. This is a swing high and trading into tough area.

Chart #2 (USDCHF)

The trade I'm currently in. Entered on BUOB on H4. Any comments about the pros and cons of this trade. I noticed the round number 1.800 (daily PPZ), my first target.

Again careful here, you are trading a BUOB at a swing high. It feels like you are trying to force a trade a bit more. Check out the daily what you are now trading into. Also the better BUOB was at 1.15 on the 4hr. See the difference?

Chart #3 (CADCHF)

PB on H4, off daily PPZ. Though the size is small but I think the location is good. Triple top, divergence, off daily PPZ. Any pros and cons?

I wouldn't really even call this much of a pin. Like you said very small in size. Body and nose are about the same. Trading right into a lot of highs and support. I would be careful here. Not an A trade, wait for something better.

Thanks. Sorry for too much question in 1 post. Just been able to look charts now.

Again these are just my views

p.s: sorry for the bad english lol in hurry to recheck.
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  • #20,638
  • Feb 5, 2009 5:26pm Feb 5, 2009 5:26pm
Quoting mbqb11
Hey Arcus

My answers below in bold
Thanks Mike. Appreciate that. BUOB - Swing low and vice versa, now I see the difference. Just another follow-up Q about the NZDUSD. Like in the chart, directly above the BUOB I marked is congestion area. So do you wait for price to break all those areas before looking for PA? Just want to know how you would look at those kind of areas, I mean your thought process (except leave it for later, then look it back).
  • #20,639
  • Feb 5, 2009 5:53pm Feb 5, 2009 5:53pm
Quoting arcus
Thanks Mike. Appreciate that. BUOB - Swing low and vice versa, now I see the difference. Just another follow-up Q about the NZDUSD. Like in the chart, directly above the BUOB I marked is congestion area. So do you wait for price to break all those areas before looking for PA? Just want to know how you would look at those kind of areas, I mean your thought process (except leave it for later, then look it back).

Well you can approach nzd/usd from a few ways. At least from my perspective. With this type of area, if we see the previous support of that congestion turn into resistance(where we are now). You might look to use this FLIP(ppz), to play off. So instead of trading into it, you want to try to trade away from it. I think the chart explains it better

I would personally prefer to wait to see a retest of .5000 and create a double bottom, or watch this area. But you could trade off the middle area(blue box ppz).

Just thought I would show a few things you could look for. Chart looks messier then it is


Mike
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  • #20,640
  • Feb 5, 2009 6:07pm Feb 5, 2009 6:07pm
The only pin I have on my dailys is chf/JPY...Take a look, I dont feel comfortable playing this bearish pin at a swing low against previous lows. Seems like it will not have room to run. Can anyone comment on this. I am going to stay away I think, nto sure at this swing low area.
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