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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

  • #24,721
  • Mar 24, 2009 7:31pm Mar 24, 2009 7:31pm
Quoting artov
My feed closed the day and gave a nice pinbar on the EUR/JPY, BUT... look at the conflicting pinbar on the 4hr chart.

Experts, what to look for in this situation?
Yes, bearish PB on weekly and bullish PB on 4h. Would it not be best to either not trade it, or trade only the break of the daily PB, since this would also mean the 4hr PB has just been invalidated?
  • #24,722
  • Mar 24, 2009 8:04pm Mar 24, 2009 8:04pm
This setup may present a higher probability trade for the JPY crosses with a past high at 56.30 now a double top and a PB on daily chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDJPY Weekly Mar. 25 11.56.jpg Size: 65 KB
Click to Enlarge Name: NZDJPY Daily Mar. 25 11.57.jpg Size: 71 KB
Without women, money would have no meaning - Aristotle Onassis
  • #24,723
  • Mar 24, 2009 9:50pm Mar 24, 2009 9:50pm
Quoting artov
My feed closed the day and gave a nice pinbar on the EUR/JPY, BUT... look at the conflicting pinbar on the 4hr chart.

Experts, what to look for in this situation?
Hey Artov,

i passed on this one for it's poor location and the lack of space. The 131 line ppz has been a very very strong source of resistance and can become equally good to serve as support, when there are so many setups available the wisest thing to do is to be as picky as you possibly can

Mike gave some more reasons to avoid this trade a few pages ago, here it is..

http://www.forexfactory.com/showpost...ostcount=24681

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 11 KB
I believe . . .
  • #24,724
  • Mar 24, 2009 9:54pm Mar 24, 2009 9:54pm
Quoting Chris P
Hey Ghous,

I'm always around matey, just lots on with work at the mo so not much time for posting. Managing to keep my eyes on the charts though

Done with your exams yet?
Not yet but they're hovering over me like dark clouds
I believe . . .
  • #24,725
  • Mar 24, 2009 9:55pm Mar 24, 2009 9:55pm
Quoting Jduester
What are the thoughts on this? Possible? Anything is possible. Will be waiting for PA off of the yellow regions, for that is what the plan tells me to do...

Josh
Could be a possibility Josh, but I just don't see enough support for it to make such a move as yet, if it really wants to go to the moon it should first see 133 IMO...

Regards,
Ghous.
I believe . . .
  • #24,726
  • Mar 24, 2009 9:59pm Mar 24, 2009 9:59pm
Hey ghous, were there any set ups you actually liked? My favorites right now are, AUD/JPY and NZD/JPY... wondering what are your thoughts? ty
  • #24,727
  • Mar 24, 2009 10:00pm Mar 24, 2009 10:00pm
Quoting mattfx
This setup may present a higher probability trade for the JPY crosses with a past high at 56.30 now a double top and a PB on daily chart
One of the few A setups we've had today

Notice how the pin bar forms just "below" the ppz zone while finding resistance from it

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.gif Size: 11 KB
I believe . . .
  • #24,728
  • Mar 24, 2009 10:02pm Mar 24, 2009 10:02pm
Quoting Jlr
Hey ghous, were there any set ups you actually liked? My favorites right now are, AUD/JPY and NZD/JPY... wondering what are your thoughts? ty
Nu and the 2 you mentioned
I believe . . .
  • #24,729
  • Mar 24, 2009 10:10pm Mar 24, 2009 10:10pm
Quoting ghous
Nu and the 2 you mentioned
Cool, glad you liked those, confidence really in the gutters lately. Entering orders, then pulling them, and end up missing the boats. Going to hold this one, hope it works, and gl to all that take any of these
  • #24,730
  • Mar 24, 2009 10:16pm Mar 24, 2009 10:16pm
Quoting Jlr
Cool, glad you liked those, confidence really in the gutters lately. Entering orders, then pulling them, and end up missing the boats. Going to hold this one, hope it works, and gl to all that take any of these
Doncha worry!

It's not the tripping over and falling down that should discourage you. The danger lies in loosing hope of making it again once you get back to your feet

You will make it...I know you will

Regards,
Ghous.
I believe . . .
  • #24,731
  • Mar 24, 2009 10:30pm Mar 24, 2009 10:30pm
My favorites for today are AUD/JPY, CAD/JPY and AUD/CAD BEOB.

But AUD/JPY Comes out as my pick today.

The NZD/JPY might run well too, mainly because the 2 day pin on NZD/USD I think, but the 54.00 level is just too near, I don't really like the pin too, the nose is too short.
  • #24,732
  • Mar 24, 2009 10:31pm Mar 24, 2009 10:31pm
Quoting ghous
Doncha worry!

It's not the tripping over and falling down that should discourage you. The danger lies in loosing hope of making it again once you get back to your feet

You will make it...I know you will

Regards,
Ghous.
What do you think of the nzd/usd 2 day pin setup? It looks like that pair is at a significant level on the weekly. I have a short order at .5590 on this one, targeting .5450. I would like to see a longer nose but I think the location is very good.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: pic.jpg Size: 110 KB
  • #24,733
  • Mar 24, 2009 10:38pm Mar 24, 2009 10:38pm
I want to see N/U break .5550, monthly resistance there.


Got short stops in on N/J and E/J
  • #24,734
  • Mar 24, 2009 10:39pm Mar 24, 2009 10:39pm
I got in on this due to the PA in the blue box. I don't know if it has a name but I liked the way the 2nd bar closed very near its low, and below the prior bar. I played it like a BEOB. I like the way the daily closed too. Kind of a bearish Harami pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: nu.4h.032309.gif Size: 36 KB
  • #24,735
  • Mar 24, 2009 10:46pm Mar 24, 2009 10:46pm
Anyone look at the AUDJPY. The daily formed a pinbar with it at a swing high and there is a resistance zone. Pls advise is this a A class trade?
Attached Image (click to enlarge)
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  • #24,736
  • Mar 24, 2009 11:05pm Mar 24, 2009 11:05pm
Quoting Ray_1
Anyone look at the AUDJPY. The daily formed a pinbar with it at a swing high and there is a resistance zone. Pls advise is this a A class trade?
Looking at the the AJ and NJ, both look nice and are at PPZ. If you are looking to short AJ or NJ, then some would want the one that is weakest, rather than take both. Under these circumstances, based on what I've learned here, you can look at the AUDNZD cross and see which one looks weakest vs. the other. My impression is that NZD has looked weaker than AUD on that chart. This would point to NZD as the best one to short. I picked this tip up from Clockwork71 over in his thread.
  • #24,737
  • Mar 24, 2009 11:39pm Mar 24, 2009 11:39pm
Quoting marcelnyo
My favorites for today are AUD/JPY, CAD/JPY and AUD/CAD BEOB.

But AUD/JPY Comes out as my pick today.

The NZD/JPY might run well too, mainly because the 2 day pin on NZD/USD I think, but the 54.00 level is just too near, I don't really like the pin too, the nose is too short.
If you don't like the Nu pin you shouldn't like the Aud/Cad BEOB either. It's sitting right on top of the 0.85 ppz and the 50 fib, both of which are of utmost importance to this pair...
Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 13 KB
I believe . . .
  • #24,738
  • Mar 24, 2009 11:41pm Mar 24, 2009 11:41pm
Quoting scott087
What do you think of the nzd/usd 2 day pin setup? It looks like that pair is at a significant level on the weekly. I have a short order at .5590 on this one, targeting .5450. I would like to see a longer nose but I think the location is very good.
Like I said it's on of the few setups that I liked today, it's also off the 61.8 fib...my guess is we're ready to set sail for the 5400 region.

Regards,
Ghous.
I believe . . .
  • #24,739
  • Mar 24, 2009 11:43pm Mar 24, 2009 11:43pm
Quoting ghous
If you don't like the Nu pin you shouldn't like the Aud/Cad BEOB either. It's sitting right on top of the 0.85 ppz and the 50 fib, both of which are of utmost importance to this pair...

Ghous if you dont mind me asking, what are your levels of importance/PPZ's on the AUD/JPY? I know sometimes everyone has their own levels that vary, but i just want a point of reference to see if im in the right areas.

Thanks
  • #24,740
  • Mar 24, 2009 11:47pm Mar 24, 2009 11:47pm
Quoting ghous
Like I said it's on of the few setups that I liked today, it's also off the 61.8 fib...my guess is we're ready to set sail for the 5400 region.

Regards,
Ghous.
Thanks, it helps to hear what others who are more experienced think about a setup after I plan the trade myself. I'm seeing and only trading the best setups and I know how to manage them, I just need to be more confident in myself and the strength of the setup to take price where we would expect it to go.
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