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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

  • #24,481
  • Mar 23, 2009 7:06am Mar 23, 2009 7:06am
Quoting ghous
waiting with for prey to make some sound from behind the bushes, Sniper's ready

Ghous

Keep the good advice coming.....a lot of us listen to it! I'm hoping to turn into a sniper myself!
PA is where its at!!
  • #24,482
  • Mar 23, 2009 7:08am Mar 23, 2009 7:08am
Here's an update on the Eur/Nzd weekly BEOB i took last week,

TP 1 which was at 2.4 got nicely hit, the next one's waiting at 2.36.

Would just like to mention that at a time the trade was -300 as price after breaking the BEOB pulled to test the 2.48 ppz.

Any wonder why Jim recommends the higher tfs for all newbies??

Regards,
Ghous.
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I believe . . .
  • #24,483
  • Mar 23, 2009 7:10am Mar 23, 2009 7:10am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I think I treat this setup first time seriously by studying its strict form. probably this setup is supposed to be traded upon close of the break out bar (looking into the PA documentation, it seems IB setup is defined once the 3rd bar close above the high of 1st bar, the trigger could be on the open of the 4th bar, or upon retracement from the close of 3rd bar??? correct me if I am wrong)

I jumped in the market already, I guess this is too agressive? This is for sure my problem, if one think this is a problem, coz I am really a person lack of patience, and also have the impetus of anticipating price move. there is still a risk that the 3rd bar may close below the high of the 1st bar. we will see

anyone has this trade too? would appreciate if could share your view, and provide your drawing of PPZ if any.
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  • #24,484
  • Mar 23, 2009 7:10am Mar 23, 2009 7:10am
Quoting ghous

the weekend gap on the AUD/CAD is below the current price level and it won't be a bad idea to anticipate some bear intervention to fill the gap and then probably a further move down south. Ofcoarse it may not happen atall, but it certainly is an odd that we can count on as one favoring short



Regards,
Ghous.
When you intend on 'filling the gap' as you put it, are you looking for PA at where the gap occured?

I know Im asking a lot of questions but hey what can I say, I seek enlightenment :nerd:

Your always a help Ghous, even if you dont realize it

BTW congrats on your EUR/NZD trade. I was watching that also but I missed the break, oh well, on to the next setup ...
  • #24,485
  • Mar 23, 2009 7:12am Mar 23, 2009 7:12am
Quoting alter
Thank you ghous for your opinion. It was just 1% of my account. I trade H4 as I don't see any good setups on daily. In fact I had only 2 daily trades this month. This kind of trades don't help my confidence
alter
If it honestly was just 1% of your account this was the smart thing. the dialogue you read above in my post wasn't from any Tom Dick or Harry....

It was me 6 months ago

And if you're already smart enough to make sure you're not over trading nor risking anything ridiculous imagine where you will be 6 months from now

Regards,
Ghous.
I believe . . .
  • #24,486
  • Mar 23, 2009 7:17am Mar 23, 2009 7:17am
Quoting BWise
When you intend on 'filling the gap' as you put it, are you looking for PA at where the gap occured?

I know Im asking a lot of questions but hey what can I say, I seek enlightenment :nerd:

Your always a help Ghous, even if you dont realize it

BTW congrats on your EUR/NZD trade. I was watching that also but I missed the break, oh well, on to the next setup ...
Yeah that's right. some PA is always great, basically the gaps never actuate me to jump into pure gap-trading I've never tried them as such, but I know Mike (mbqb11) trades them,

I only collect them as pieces which qualify to be added into the bag titled "odds in favor of the trade" just like I did earlier today on the Aus/Cad.

Cheers!

Ghous.
I believe . . .
  • #24,487
  • Mar 23, 2009 7:21am Mar 23, 2009 7:21am
Quoting seboileroom
Hi everyone;

As you may know that i have embarked some time ago on compiling this thread. i spent many weeks almost lost in this huge document and not sure where or how to begin. As the days passed, i have come across many posts of other fellow traders of this thread, some veterans and some new followers, and in their posts they have referred to or compiled the locations/posts concerning certain issues. I opened each and every link and edited its contents and added it to my compilation. At last i succeeded in uploading part one, so here it is....
Seb,
This is awesome. Great idea! -Josh
  • #24,488
  • Mar 23, 2009 7:29am Mar 23, 2009 7:29am
Nice rally to the strong 141.70 resistance area. I think we may see a bounce here. If I am wrong, there's always the chance to recover the SL (if taken) on the break upwards.
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  • #24,489
  • Mar 23, 2009 7:41am Mar 23, 2009 7:41am
Quoting seboileroom
Hi everyone;


Seb
Spectacular ! Well done and thanks
  • #24,490
  • Mar 23, 2009 7:43am Mar 23, 2009 7:43am
Contributors: Jduester (Main contributor, thank you very much), SeekingLight, mbqb11 (AKA Mike) and many others;

Thank you all;

Seb



Attached File(s)
File Type: zip James16 Part Two.zip   1.4 MB | 2,573 downloads
  • #24,491
  • Mar 23, 2009 7:46am Mar 23, 2009 7:46am
Quoting seboileroom
Hi everyone;

As you may know that i have embarked some time ago on compiling this thread. i spent many weeks almost lost in this huge document and not sure where or how to begin. As the days passed, i have come across many posts of other fellow traders of this thread, some veterans and some new followers, and in their posts they have referred to or compiled the locations/posts concerning certain issues. I opened each and every link and edited its contents and added it to my compilation. At last i succeeded in uploading part one, so here it is....
I'd second Josh's words

This is Lustrous stuff Seb,

It's ppl like you that have lifted this thread and taken it to another level.

I am sure Jame will be extremely proud of you guys.

Regards,
Ghous.
I believe . . .
  • #24,492
  • Mar 23, 2009 7:54am Mar 23, 2009 7:54am
Quoting alter
78 was nice daily PPZ, on CAD/JPY. I took H4 PIN short from this level, but was stopped out again. It looks they are not very reliable lately.
Although that location is a good place to look, that pin is was too small in relation to previous bars.
  • #24,493
  • Mar 23, 2009 7:57am Mar 23, 2009 7:57am
An IB I caught on the Eur/Gbp...
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I believe . . .
  • #24,494
  • Mar 23, 2009 7:57am Mar 23, 2009 7:57am
Here is a 4hr that I'm in. Nice size pin which led to a break of the 2-day pin.
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  • #24,495
  • Mar 23, 2009 8:06am Mar 23, 2009 8:06am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting ghous
An IB I caught on the Eur/Gbp...
Hi Ghous or anyone with a better Pa understanding than me
no chart, but i see and IB on the daily for Eur/Usd, it's at an important area, for me - 50% fib on retracement, down TL, last 3 days have hung out in this zone.
one of the issues i have is the weekly bar from last week was huge and long, it went straight to the weekly pivot point and were still sitting there.

regards

MPP
  • #24,496
  • Mar 23, 2009 8:15am Mar 23, 2009 8:15am
well the EUR coming off resistance where expected. EUR/JPY daily pin forming but long way to go till close
  • #24,497
  • Mar 23, 2009 8:41am Mar 23, 2009 8:41am
Quoting joebryce
Here is a 4hr that I'm in. Nice size pin which led to a break of the 2-day pin.
Glad it worked out for you Joe.
  • #24,498
  • Mar 23, 2009 8:43am Mar 23, 2009 8:43am
Still a little time left but Gold just might make it over the next hurdle.....and on to those daily highs.. or if you are biased short, break of daily quasi IB.
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  • #24,499
  • Mar 23, 2009 8:49am Mar 23, 2009 8:49am
Quoting HipsterPipster
Glad it worked out for you Joe.
Can't say it's worked out yet. Took awhile to take off, hopefully it stays up there.

Gotta like those precious metals. My IRA's had been in mostly cash until October-ish, then I loaded up on leveraged gold and silver....cha-ching
  • #24,500
  • Mar 23, 2009 8:56am Mar 23, 2009 8:56am
Quoting krue
I think I treat this setup first time seriously by studying its strict form. probably this setup is supposed to be traded upon close of the break out bar (looking into the PA documentation, it seems IB setup is defined once the 3rd bar close above the high of 1st bar, the trigger could be on the open of the 4th bar, or upon retracement from the close of 3rd bar??? correct me if I am wrong)

I jumped in the market already, I guess this is too agressive? This is for sure my problem, if one think this is a problem, coz I am really a person lack of...
Wow Krue, you must have forgotten your cad/Jpy loss already

(Dunno where is Jarroo today, I can bet we would have seen some 10 white "trademark" treats from him by now. He took the Uj too...SHOW UP DUDE!)
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I believe . . .
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