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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

  • #25,641
  • Mar 31, 2009 11:17pm Mar 31, 2009 11:17pm
Quoting scott087
This one looked interesting to me. Eur/Nzd Daily BUOB.

Nice fib confluence, off a well defined ppz and at a swing low. I'd wait to enter after the break of those bar lows at 2.3750 if I decide to take it.
Be careful Scott,

we have three almost matching lows just beside the BUOB/DBLHC high, maybe enter above the blue ppz on my chart? or at least you should be quick to book some profits if you're taking a pure break...

Cheers!

Ghous.
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I believe . . .
  • #25,642
  • Apr 1, 2009 1:10am Apr 1, 2009 1:10am
Quoting ghous
Be careful Scott,

we have three almost matching lows just beside the BUOB/DBLHC high, maybe enter above the blue ppz on my chart? or at least you should be quick to book some profits if you're taking a pure break...

Cheers!

Ghous.
Talking of the power of ppzs...

Here's a chart of the Eur/cad weekly
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I believe . . .
  • #25,643
  • Apr 1, 2009 1:14am Apr 1, 2009 1:14am
Quoting ghous
Talking of the power of ppzs...

Here's a chart of the Eur/cad weekly
Raczek would be proud of your analysis ghous.
Indicators show the past. Price Action "Indicates" the future.
  • #25,644
  • Apr 1, 2009 1:17am Apr 1, 2009 1:17am
Hello guys, I would give my small contribution to the forum with this little check list found on the net.Some of you will already have it, but many beginners like me will find it useful ... I hope.

See you soon.
Attached File(s)
File Type: pdf PA Decision Checklist v2.pdf   303 KB | 1,918 downloads
Patience is essential
  • #25,645
  • Apr 1, 2009 1:26am Apr 1, 2009 1:26am
Quoting benem
Hello guys, I would give my small contribution to the forum with this little check list found on the net.Some of you will already have it, but many beginners like me will find it useful ... I hope.

See you soon.
I don't think I've see that before. I like it.
Indicators show the past. Price Action "Indicates" the future.
  • #25,646
  • Apr 1, 2009 1:29am Apr 1, 2009 1:29am
Quoting benem
Hello guys, I would give my small contribution to the forum with this little check list found on the net.Some of you will already have it, but many beginners like me will find it useful ... I hope.

See you soon.
Glad you found it helpful
  • #25,647
  • Apr 1, 2009 2:15am Apr 1, 2009 2:15am
Quoting ghous
Be careful Scott,

we have three almost matching lows just beside the BUOB/DBLHC high, maybe enter above the blue ppz on my chart? or at least you should be quick to book some profits if you're taking a pure break...

Cheers!

Ghous.
Thanks for checking out this setup. I'm glad you saw the same thing as me, I noted when I posted the chart that if I decided to take it I would wait for a break of those bar lows in that area. I passed on this trade, and now that I look price did exactly what we would have expected at those bar lows. Price was pushed down hard as it approached that area.

As James said it is crucial to locate these areas of S/R beyond our PA if they exist and be prepared to react.
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  • #25,648
  • Apr 1, 2009 2:27am Apr 1, 2009 2:27am
Quoting simoncs
the retrace pin forming after test of the neckline.
boy if Mike misses this, he'll be pissed

hehe it was my little brothers 21st bday today and he had just came home from Barcelona so I went out to celebrate with him. I see this gave some pips. Although I wouldn't have taken it being so late in the day, but the setup was a pretty clean looking one.

were headed back towards my favorite areas
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  • #25,649
  • Apr 1, 2009 2:31am Apr 1, 2009 2:31am
Hi Rac / Jarroo

Thanks for taking an interest in my question, you are both very helpful,and sorry i cant post a chart.

Gerard
  • #25,650
  • Edited 4:09am Apr 1, 2009 2:52am | Edited 4:09am
Quoting Gerard212
Hi Rac / Jarroo

Thanks for taking an interest in my question, you are both very helpful,and sorry i cant post a chart.

Gerard
Not sure what hammer or Pin bar you were talking about on the 4 hour Usd/Jpy.

(On posting charts) No problem with this, right?
http://www.forexfactory.com/showpost...ostcount=20665


.
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Indicators show the past. Price Action "Indicates" the future.
  • #25,651
  • Apr 1, 2009 3:12am Apr 1, 2009 3:12am
This one took it's time...

At the end of the day PA still rules

Regards,
Ghous.
Attached Image
I believe . . .
  • #25,652
  • Apr 1, 2009 3:22am Apr 1, 2009 3:22am
Quoting ghous
This one took it's time...

At the end of the day PA still rules

Regards,
Ghous.
Ghous why did you take this OB? To me it does not appear to be at swing H/L, or at PPZ, and does appear to be in traffic.
  • #25,653
  • Edited 4:41pm Apr 1, 2009 3:54am | Edited 4:41pm
Quoting KissFan
I agree that this is a high probability trade. I am placing a long position at 1.4312. Here is my reasoning.
1. Pin Bar off 1.4200 area.
2. Pin Bar is of similar range as previous candles.
3. [font=Calibri][size=3]Body of pin bar is off 50% fib area. Nose is off of the golden...
I know this was a 35 pip/ break even trade for you KissFan. You managed the trade perfectly in my book.

You initially analysis was, as it turns out, right on the mark. As it should be because it was top notch.

Your next one will go to the moon.
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Indicators show the past. Price Action "Indicates" the future.
  • #25,654
  • Apr 1, 2009 4:36am Apr 1, 2009 4:36am
Quoting markmm
Could be a pin bar on the NZDUSD, through the 150EMA and at a pivot zone and some fib confluence. I see though theres a pivot zone below so I would be looking to move stop to break even quickly.
I passed on this and it turned out to be a valid (40-50pips so far) trade. I don't mind this, I only want to learn and become confident that I can spot and take good trades, and be sure of what I am doing.

Even if I traded this I would have felt it was a gamble as I don't have the experience yet. I will also be working on my trade management, as I think spotting a trade means nothing if you cant take the pips properly.

Making money is at the bottom of my list at the moment and for the next 6-12 months I just want to learn, learn, learn, take demo trades and look at charts. I would much prefer to have a years worth of experience and skills and learning and not many pips, its an investment for my trading life.

I feel very relaxed this way it sets you free when you accept its not a race its a long term learning experience.
Economists have forecast 9 out of the last 5 recessions
  • #25,655
  • Apr 1, 2009 4:52am Apr 1, 2009 4:52am
Quoting benem
Hello guys, I would give my small contribution to the forum with this little check list found on the net.Some of you will already have it, but many beginners like me will find it useful ... I hope.

See you soon.
Wow, I really like the algorithmic thinking steps you've compiled, it's short, clear and thorough enough for any newbie to follow.

Since we have an algorithm... Now to write the Neural Network required... Just kidding
  • #25,656
  • Apr 1, 2009 4:56am Apr 1, 2009 4:56am
Quoting ghous
This one took it's time...

At the end of the day PA still rules

Regards,
Ghous.
I saw that one too when picking the trade for EUR/JPY weekly, but decided to delete my sell stop order due to the lack of momentum - jaroo discretion, and I've overtraded my risk profile with 2 trades already.

And for all it's worth, really, at the end of the day PA still rules.
  • #25,657
  • Apr 1, 2009 5:10am Apr 1, 2009 5:10am
Hello guys
How do you manage entry on retrace of the entry bar?
For example if we have PIN short, would you first wait till the bottom of the bar is taken out and then you enter on the pullback?
If you don't wait for the bottom of the PIN bar to be broken you can enter on 50ret but PIN might never go down again and you actually took invalid PIN.
How to do this, please?
Thank you
alter
  • #25,658
  • Apr 1, 2009 5:14am Apr 1, 2009 5:14am
Quoting ghous
This one took it's time...

At the end of the day PA still rules

Regards,
Ghous.
Good observation there ghous, lets see how it handles the major ppz around 9100 this is the area I have been patiently waiting for.....
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Without women, money would have no meaning - Aristotle Onassis
  • #25,659
  • Apr 1, 2009 5:19am Apr 1, 2009 5:19am
Quoting alter
Hello guys
How do you manage entry on retrace of the entry bar?
For example if we have PIN short, would you first wait till the bottom of the bar is taken out and then you enter on the pullback?
If you don't wait for the bottom of the PIN bar to be broken you can enter on 50ret but PIN might never go down again and you actually took invalid PIN.
How to do this, please?
Thank you
alter
Hi there alter,

I've found that seekinglight once stated that pin almost always retraced back to 61.8, others like rac might like to go down into very low timeframes, and IMO, if I would enter on retrace, I'd wait for a corresponding PA on H4, if I can't find one, I'll enter on break instead.

But that's just what I know, and they're not much. and I've never entered on retraced and don't intend to until a few years or so
One other thing I know, entry on retraces can be very risky whether the PA setup breaks first or not, and it is intended to lower the SL value thus increasing leverage, because due to our %Risk MM in J16, we have kind of an expression

Leverage = f(SL), in which leverage increases as SL decreases.

Why would you like to enter on a retrace anyway?
  • #25,660
  • Apr 1, 2009 5:30am Apr 1, 2009 5:30am
Quoting marcelnyo
Hi there alter,

I've found that seekinglight once stated that pin almost always retraced back to 61.8, others like rac might like to go down into very low timeframes, and IMO, if I would enter on retrace, I'd wait for a corresponding PA on H4, if I can't find one, I'll enter on break instead.

But that's just what I know, and they're not much. and I've never entered on retraced and don't intend to until a few years or so
One other thing I know, entry on retraces can be very risky whether the PA setup breaks first or not, and it is intended...

I think you know why. Lower SL and better RRR . If I enter on the break of the entry bar I usually get stop out for big loss, or take small profit.
If you enter on ret and you are stop out , you would be stop out on the other entry as well, but if you are right , profit potential is much bigger. That is just my opinion, so Im asking how you manage this kind of entries.
thank you
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