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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

  • #27,461
  • Apr 20, 2009 9:12am Apr 20, 2009 9:12am
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Got to love PA
  • #27,462
  • Apr 20, 2009 9:13am Apr 20, 2009 9:13am
Quoting Jlr
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Got to love PA
and 3 day charts!
Money & Pain Respect the market, protect your capital, be patient
  • #27,463
  • Apr 20, 2009 9:20am Apr 20, 2009 9:20am
Quoting toyboy tramp
and 3 day charts!
Ya and its pretty fun doing the periodcon thing too
  • #27,464
  • Apr 20, 2009 9:24am Apr 20, 2009 9:24am
Quoting simoncs
based on the gbp weakness i mentioned earlier, i took the 4hr IB on break of previous lows.
not the greatest entry so set target for 150 ema - out at +110pips

however still feel this will fall - it is retesting the 150 then down to the nice confluence of TL +365ema + 141ppz

(very tempted to go short again)
Nice short on the Gj SImon

hmmm....important times for the pair...
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I believe . . .
  • #27,465
  • Apr 20, 2009 9:28am Apr 20, 2009 9:28am
I have been thinking about this for awhile. I believe H&S, DHLC, DLHC, IB, and OB etc. at times can all be a PB from a combined timeframe point of view. I think these "patterns" help us identify some underlying PA without really understanding it.

Quoting Forex007
When you come to think of it, H&S is nothing else but a... pinbar
  • #27,466
  • Apr 20, 2009 9:30am Apr 20, 2009 9:30am
first short tp is being hit...
.
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  • #27,467
  • Apr 20, 2009 9:43am Apr 20, 2009 9:43am
Quoting Aliassmith
I have been thinking about this for awhile. I believe H&S, DHLC, DLHC, IB, and OB etc. at times can all be a PB from a combined timeframe point of view. I think these "patterns" help us identify some underlying PA without really understanding it.
yep and this is why location trumps everything. PA is simply the reaction of the area that we believe is going to create interest. This is why when we aggregate price via our brokers or combining timeframes we all can see something different. But what happened is the same, just how we see it and then react to it. Be it a BUOB on my broker, and you have a pin on yours etc


Happy Monday
Mike
  • #27,468
  • Apr 20, 2009 9:43am Apr 20, 2009 9:43am
Quoting raczekfx
first short tp is being hit...
.
Don't You expect 140,70 a strong res.?


Peter
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Jesus Christ is my only Lord !
  • #27,469
  • Apr 20, 2009 9:45am Apr 20, 2009 9:45am
Got To Love PA + S/R + Fib + confluences. Anyways, +30 pips on first half and second at BE +10 up 140 pips. Since this range is getting narrow I will think about taking more profit out.


Quoting Jlr
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Got to love PA
  • #27,470
  • Apr 20, 2009 9:46am Apr 20, 2009 9:46am
Quoting hipcio
Don't You expect 140,70 a strong res.?


Peter
I think 3750/3800 looks better. I only took half off the table. More to come when tokyo opens...
  • #27,471
  • Apr 20, 2009 9:49am Apr 20, 2009 9:49am
Quoting ghous
Nice short on the Gj SImon

hmmm....important times for the pair...
thanks

yup for sure. and if you have your fibs as per rac below it is approaching the 61.

bit of day dreaming for you...

Interestingly although the gbp weakness today has supported my initial thoughts, I have read a number of articles and there have been some leaked stuff about the budget - all which suggest the chancellor will paint a rosier picture than is the truth come Wednesday.
So in terms of timing it might just mean that we get a bounce off that TL/61fib/365ema (the technicals) at the same time as the chancellor decides to lie to the world thus causing a rally in GBP.

I find it fascinating how the charts lead the way and then some fundamental news comes out later to support the move.
  • #27,472
  • Apr 20, 2009 9:49am Apr 20, 2009 9:49am
Quoting Aliassmith
Got To Love PA + S/R + Fib + confluences. Anyways, +30 pips on first half and second at BE +10 up 140 pips. Since this range is getting narrow I will think about taking more profit out.
Ya, very nice indeed I took off 2/3rds off near the high of this recent swing. A few different fib confluences and some decent PPZ, I'm happy to bank Holding the rest for some further out profit targets, should be fun to watch stress free
  • #27,473
  • Apr 20, 2009 9:52am Apr 20, 2009 9:52am
Quoting raczekfx
I think 3750/3800 looks better. I only took half off the table. More to come when tokyo opens...
Thank You,
and if I could ask one more question
where would You expect TP on UJ short?

Peter
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Jesus Christ is my only Lord !
  • #27,474
  • Apr 20, 2009 10:11am Apr 20, 2009 10:11am
Is anyone looking at this pinbar?
Looks like a good location?
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  • #27,475
  • Apr 20, 2009 10:30am Apr 20, 2009 10:30am
Quoting hipcio
Thank You,
and if I could ask one more question
where would You expect TP on UJ short?

Peter
i don't have any position in uj, but if I was short...

i'd be out on half around 96.20 and then would watch equities and risk aversion for a chance to see uj at 93.50.
I doubt we'll see uj past that level, but who knows.
If they prove obama wasn't born in US, things might get really, really ugly....
I wouldn't be surprised to see Yellowstone super volcano eruption....
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  • #27,476
  • Apr 20, 2009 10:31am Apr 20, 2009 10:31am
Quoting Nanook438
Is anyone looking at this pinbar?
Looks like a good location?
My problem with this pin: look what has happened from about last Monday (April 13th)
And also the previous bar. And it's a 1H TF.

I would move SL to BE asap. (that's a lot of abbreviations)
You might see a bit of a retrace upwards, but trying to catch a falling knife... you know how that goes.

Tom
  • #27,477
  • Apr 20, 2009 10:35am Apr 20, 2009 10:35am
Quoting Nanook438
Is anyone looking at this pinbar?
Looks like a good location?
against the trend with a 1hr pin bar - not adviseable

the pin is also small in relation to the previous bar and it would be straight up into resistence.


not worth it in my opinion - plus I am short
  • #27,478
  • Apr 20, 2009 10:42am Apr 20, 2009 10:42am
Quoting moneybags
My problem with this pin: look what has happened from about last Monday (April 13th)
And also the previous bar. And it's a 1H TF.

I would move SL to BE asap. (that's a lot of abbreviations)
You might see a bit of a retrace upwards, but trying to catch a falling knife... you know how that goes.

Tom
yep this is why starting on the higher timeframes is so extremely important. Catching a falling knife on the hourly with a small pinbar is never worth it IMO. The ones on the hourly are going to be at prime spots, and the PA will be large in comparison to such a huge move down.

Mike
  • #27,479
  • Apr 20, 2009 10:45am Apr 20, 2009 10:45am
Quoting raczekfx
i don't have any position in uj, but if I was short...

i'd be out on half around 96.20 and then would watch equities and risk aversion for a chance to see uj at 93.50.
I doubt we'll see uj past that level, but who knows.
If they prove obama wasn't born in US, things might get really, really ugly....
I wouldn't be surprised to see Yellowstone super volcano eruption....
Thank You very much,
my position is only one mikro, so
I will try to be very picky around 9620

Peter
Jesus Christ is my only Lord !
  • #27,480
  • Apr 20, 2009 11:04am Apr 20, 2009 11:04am
Quoting hipcio
Thank You very much,
my position is only one mikro, so
I will try to be very picky around 9620

Peter
Anytime Piotrek,

Just watch the equities. We're getting something that looks like a 38day pinbar on dow futures...
When it breaks upwards... we might get quick bounce on yen crosses.
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