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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

  • #31,701
  • Jun 1, 2009 3:53am Jun 1, 2009 3:53am
Quote
daily, weekly seem to be bearish though.
Alexandra, i think 94.50 breach is already priced in. 90-92 may come soon.

looking at the weekly chart, 88.50-92.50 sort of encompasses a "range" & double bottom
  • #31,702
  • Jun 1, 2009 3:55am Jun 1, 2009 3:55am
Quoting Alexandra
Yes, believe it or not, I am looking at the short side of the Yen as risk aversion flows desist. It's a matter of having a view and waiting for supportive PA. Besides, I don't want to chase the other markets at this stage. From a practical standpoint, I do see 94.50 as a rather critical area.
Nice job guys. 94.50 made a whole lot of sense.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #31,703
  • Jun 1, 2009 4:01am Jun 1, 2009 4:01am
Quote
From a practical standpoint, I do see 94.50 as a rather critical area.

Quote
94.50 made a whole lot of sense.

jarroo,
Noted 2x.
i love the look of that two huge reverse PBs.
  • #31,704
  • Jun 1, 2009 4:04am Jun 1, 2009 4:04am
Here is something I am looking for....

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 30 KB
  • #31,705
  • Jun 1, 2009 4:11am Jun 1, 2009 4:11am
just saw this....

H4 BEOB did form.

93.50 - 94 may be next. Alternatively, we may range between 93.50 - 94.50
  • #31,706
  • Jun 1, 2009 4:13am Jun 1, 2009 4:13am
Shermenator,
indeed, even gbpjpy formed a PB on M15 - H1 (2-bar H1 PB) [ XTB MT4 ]

i have an identical gbp$ chart (with plotted Fib) as with GodfreyH's. possible Fib resistance proximity reached..
  • #31,707
  • Jun 1, 2009 4:17am Jun 1, 2009 4:17am
Closed out half of my long for 300pips. Letting the rest ride.. i so love the daily TF, so much less stress trading and i can do other things





Quoting ephisi
Okay J. The daily candle didnt close where i expected. So no more bearish bias. My 4hr system also didnt signal short. What i see now is a Two bar high(not consecutive), a TBH(consecutive but 5pips apart)on the daily and a BUOVB on the weekly both seem to be breaking up. i am long off 152 wit stop at 149 where i have a confluence of supports like daily 150ema, ppz and round number 150. These gave a good entry long on the 4hr chart.

Im hoping todays daily dosnt end as a pinbar.
  • #31,708
  • Edited 4:04pm Jun 1, 2009 4:19am | Edited 4:04pm
Quoting Musanto
folks,
What about EUR/GBP ?
PPZ below (red rect)
I found, daily ib broke up, yesterday .
Is this worth to buy ?
I see you all search pin bar, what about BUB and BEB ?
If it's crossed PPZ in daily ru consider it too ? (eg. GU)

Thank you
We do look for Inside Bars (as with other PA formations) at swing Highs/Lows. But that is only part of the story. Do we have supportive confluence with the setup? What are we trading into i.e. support, resistence, PPZ levels, round numbers.

The Eur/Gbp IB was at swing low and off a strong PPZ level, .8650. All good. Now where are we heading that may gives us trouble? The .8800 sure was the level for us to . . . . .

James16:

THIS IS CRITICAL.

WE MUST LEARN TO:

Notice a strong s/r area just beyond our pa if it exists.
Know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.
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Indicators show the past. Price Action "Indicates" the future.
  • #31,709
  • Jun 1, 2009 4:23am Jun 1, 2009 4:23am
Ephisi,
Congratulations, doing really great

like i said j16 + Aus =
  • #31,710
  • Edited 4:36am Jun 1, 2009 4:25am | Edited 4:36am
Quote
We do look for Inside Bars (as with other PA formations) at swing Highs/Lows. But that is only part of the story. Do we have supportive confluence with the setup? What are we trading into i.e. support, resistence, PPZ levels, round numbers.

The Eur/Gbp IB was at swing low and off a strong PPZ level, .8650. All good. Now what are we heading that may gives us trouble? The .8800 sure was the level for us to . . . . .

James16:
THIS IS CRITICAL.
WE MUST LEARN TO:...........
jarroo,
i will never get enough of this post from u...
  • #31,711
  • Jun 1, 2009 4:28am Jun 1, 2009 4:28am
Quoting supremeChaos
jarroo,
i will never get enough of this post from u...
It applies to probably every PA setup.

A James16 Gem.
Indicators show the past. Price Action "Indicates" the future.
  • #31,712
  • Jun 1, 2009 4:29am Jun 1, 2009 4:29am
Quoting supremeChaos
Ephisi,
Congratulations, doing really great

like i said j16 + Aus =

Thanks bro. Watching out for a daily PA set up for short. We have lots of conflunces betewwn 156 and 160. Till then im still long. No one knows, we may go higher towards 160.
  • #31,713
  • Jun 1, 2009 4:33am Jun 1, 2009 4:33am
Quoting ephisi
Thanks bro. Watching out for a daily PA set up for short. We have lots of conflunces betewwn 156 and 160. Till then im still long. No one knows, we may go higher towards 160.
Very Nice ephisi. We may test the 61.8 at the PPZ level of 179.50.
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Indicators show the past. Price Action "Indicates" the future.
  • #31,714
  • Jun 1, 2009 4:39am Jun 1, 2009 4:39am
UK PMI beter than expected. Uk has been having serious of good reports. Should bost the GBP further
  • #31,715
  • Jun 1, 2009 4:41am Jun 1, 2009 4:41am
Quote
We may test the 61.8 at the PPZ level of 179.50.

  • #31,716
  • Jun 1, 2009 4:42am Jun 1, 2009 4:42am
Thanks buddy, its so much quiet in here compared to Auslancos thread. I feel at home. I have gotten all i need from the Aus thread. lol

ill go look up 179.50 ppz on my chart

Quoting jarroo
Very Nice ephisi. We may test the 61.8 at the PPZ level of 179.50.
  • #31,717
  • Jun 1, 2009 4:44am Jun 1, 2009 4:44am
Hi all,
after some days of rest and relax (i got burned on audusd few days ago) i think that now i'm ready to come back on the market. After my 3 profitable months on demo, i understood that going live is very different

Now..
GbpChf is at a critical level i think: 1.75 is a strong PPZ...i'm waiting for some PA that tells me what to do!

And AudUsd has literally burned the hystorical PPZ at 0.88, let's see if this level will turn into support or will do his job as resistance...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 11 KB
Click to Enlarge Name: audusd.gif Size: 14 KB
  • #31,718
  • Jun 1, 2009 4:46am Jun 1, 2009 4:46am
Quoting ephisi
Thanks buddy, its so much quiet in here compared to Auslancos thread. I feel at home. I have gotten all i need from the Aus thread. lol

ill go look up 179.50 ppz on my chart
Yeah lol. That can be a crazy thread at times. Some good people in there.
Indicators show the past. Price Action "Indicates" the future.
  • #31,719
  • Jun 1, 2009 4:52am Jun 1, 2009 4:52am
Quote
Thanks buddy, its so much quiet in here compared to Auslancos thread. I feel at home. I have gotten all i need from the Aus thread. lol

ephisi,
.....
quiet is very much an understatement.
People are much sane in here.

it's great that we have imported u from the Aus. thread.
  • #31,720
  • Jun 1, 2009 4:53am Jun 1, 2009 4:53am
Quoting bakko85
Hi all,
after some days of rest and relax (i got burned on audusd few days ago) i think that now i'm ready to come back on the market. After my 3 profitable months on demo, i understood that going live is very different

Now..
GbpChf is at a critical level i think: 1.75 is a strong PPZ...i'm waiting for some PA that tells me what to do!

And AudUsd has literally burned the hystorical PPZ at 0.88, let's see if this level will turn into support or will do his job as resistance...
That's it bakkos. Finding these critical, confuenced areas (location) and waiting for PA to tip its hand.
Indicators show the past. Price Action "Indicates" the future.
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