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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

  • #21,461
  • Feb 15, 2009 3:16pm Feb 15, 2009 3:16pm
FX Genius....well done on the results mate.... keep it going!
  • #21,462
  • Feb 15, 2009 3:17pm Feb 15, 2009 3:17pm
Quoting Fx_Genius
Jim & all J16er's,

The question.
GBPUSD seems to have 2 trends running, one in inside the other for upper part and last pin hit inner and dropped. The last 2 pins the are almost identical mirror images (up/down). Other than a weekend interrupting, would this be a good short indicator depending on next pin?

I have also been watching the cable... and has drawn some S/R levels.
IŽm waiting for price to brake the 30min range and H4 going up or down to the S&R. Tomorrow is US Bank Holiday, so weŽll see.
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"White collar crime deserves a blue collar beating!" - 8fingers
  • #21,463
  • Feb 15, 2009 4:04pm Feb 15, 2009 4:04pm
Quoting joebryce
Eur/Nok weekly pinbar...little small compared to previous bars, nose could be longer. Location good...61.8 fib and ppz.

Any thoughts?
IMO is not a good one, the body and the nose is almost the same (no desition bar) it's another wating day...

Just my thoughts....
  • #21,464
  • Feb 15, 2009 4:21pm Feb 15, 2009 4:21pm
GBPJPY


Price gapped down tonight to the PPZ and daily pin entry point from last week.

A small but extremely well placed 1 hour pin off the 130.00 level was easy money in the bank :-)
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  • #21,465
  • Feb 15, 2009 4:36pm Feb 15, 2009 4:36pm
Quoting fxprocessor
GBPJPY


Price gapped down tonight to the PPZ and daily pin entry point from last week.

A small but extremely well placed 1 hour pin off the 130.00 level was easy money in the bank :-)
You still holding?
  • #21,466
  • Feb 15, 2009 4:59pm Feb 15, 2009 4:59pm
Quoting forextine
You still holding?

Hi Forextine,


Closed just below next round number @131. As I said it was easy money in the bank.

As this was a lower time frame entry I was not going to be greedy and go for the full gap close.
  • #21,467
  • Feb 15, 2009 5:06pm Feb 15, 2009 5:06pm
Quoting fxprocessor
Hi Forextine,


Closed just below next round number @131. As I said it was easy money in the bank.

As this was a lower time frame entry I was not going to be greedy and go for the full gap close.
It's a very large gap, I would think it's going to take a while to close it, if ever. For whatever reason that 127 price looks to be coming. I could be way off, but time will tell.
  • #21,468
  • Feb 15, 2009 5:11pm Feb 15, 2009 5:11pm
Quoting forextine
It's a very large gap, I would think it's going to take a while to close it, if ever. For whatever reason that 127 price looks to be coming. I could be way off, but time will tell.
I would expect the stops to be taken out below 130 (retrace bus I thinks Seeking Light called it) but the daily pin is still very valid.

Nothing would suprise me though.....
  • #21,469
  • Feb 15, 2009 5:14pm Feb 15, 2009 5:14pm
Quoting fxprocessor
I would expect the stops to be taken out below 130 (retrace bus I thinks Seeking Light called it) but the daily pin is still very valid.

Nothing would suprise me though.....
Sorry what you mean lol, you're expecting a retrace? or you expect the stops to get hit and tank it.
  • #21,470
  • Feb 15, 2009 5:29pm Feb 15, 2009 5:29pm
Quoting forextine
Sorry what you mean lol, you're expecting a retrace? or you expect the stops to get hit and tank it.
Last weeks daily pinbar held above the strong PPZ at approx 130.

Friday also closed above this PPZ.

The daily pin bar has not been invalidated until the low is taken out.

All I was saying was that the market feeds off orders and there will no doubt be a cluster of orders berlow 130. Whether price continues to drop if it hits these orders or moves up to close the gap is an unknown but nice pins like this daily one one can usually be good for a decent move.
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  • #21,471
  • Feb 15, 2009 5:31pm Feb 15, 2009 5:31pm
Understood. Thanks

Quoting fxprocessor
Last weeks daily pinbar held above the strong PPZ at approx 130.

Friday also closed above this PPZ.

The daily pin bar has not been invalidated until the low is taken out.

All I was saying was that the market feeds off orders and there will no doubt be a cluster of orders berlow 130. Whether price continues to drop if it hits these orders or moves up to close the gap is an unknown but nice pins like this daily one one can usually be good for a decent move.
  • #21,472
  • Feb 15, 2009 5:38pm Feb 15, 2009 5:38pm
Quoting forextine
Understood. Thanks
No problem
  • #21,473
  • Feb 15, 2009 6:28pm Feb 15, 2009 6:28pm
interesting pin on the gbp/cad had gapped below the 50 fib but stopped at 1.7609 PPZ.
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  • #21,474
  • Feb 15, 2009 7:39pm Feb 15, 2009 7:39pm
Hi Guys

Can someone direct me to video that Jim referred to recently.

Thanks Gerard
  • #21,475
  • Feb 15, 2009 7:42pm Feb 15, 2009 7:42pm
Quoting Gerard212
Hi Guys

Can someone direct me to video that Jim referred to recently.

Thanks Gerard

http://www.james16group.us/Guests/guestmaterial.html

Here you go mate...enjoy it!!!
  • #21,476
  • Feb 15, 2009 7:44pm Feb 15, 2009 7:44pm
Quoting trujillo1980
http://www.james16group.us/Guests/guestmaterial.html

Here you go mate...enjoy it!!!
I would suggest you view the Guest Material at least 20 times. No, I'm not joking.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #21,477
  • Feb 15, 2009 8:16pm Feb 15, 2009 8:16pm
Quoting jarroo
I would suggest you view the Guest Material at least 20 times. No, I'm not joking.

Jim
4th. time and counting....

Every time I see them I learn something new... Those stuffs are gold!!!
  • #21,478
  • Feb 15, 2009 8:17pm Feb 15, 2009 8:17pm
Quoting trujillo1980
4th. time and counting....

Every time I see them I learn something new... Those stuffs are gold!!!

Indicators show the past. Price Action "Indicates" the future.
  • #21,479
  • Feb 15, 2009 8:47pm Feb 15, 2009 8:47pm
This last weekly bar on USDCAD has a higher high and lower low than the last bar, but does it qualify as a BUOB? I would like to see the close much closer to the high in order to play it as such. Thoughts/advice?
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  • #21,480
  • Feb 15, 2009 8:54pm Feb 15, 2009 8:54pm
thx for all answer, it's really helpfull for me newbie to understand what wrong and good from my trade.
Unfortunetly i'm still not BE yet.

About this gap in 4h how you guys treated it? waiting for more candle form, or just trade it as usual if u have signal?.
Is the signal candle in friday can be trusted? because i think that in friday many people taking profit, some not trade, etc.
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