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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

  • #37,841
  • Jul 17, 2009 3:31am Jul 17, 2009 3:31am
Quoting mbqb11
for what it is worth. James does not even use trendlines. Just horizontal support and resistance. I only personally use Extremely clear trendlines for breakouts.


Mike
yes,

It's funny how they can mislead, specially when drawn on the higher time frames. You mis draw them by a millimeter and it turns out you miss an entire breakout and retest trade on the 4h because all the time price was above your trend line.

They work best when like Mike said they are obvious to the pip.

Ghous.
I believe . . .
  • #37,842
  • Jul 17, 2009 3:36am Jul 17, 2009 3:36am
Quoting ghous
Jon's right Tac,

The trend line you drew was just not valid.

trend lines are drawn on more than 2 touches not 2 or more touches.

It is pretty ok to be wrong at times, after all we're all here to correct and be corrected.
I don't want to continue the argument (Pring actually says 2 touches or more) but clearly price reacted to that area so I guess price has decided who is right , just kidding, I admit the trendline was kinda half assed, but the are in general is one to note. Im still learning so thanks for the pointers, sorry if I came across as stubborn.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,843
  • Jul 17, 2009 3:39am Jul 17, 2009 3:39am
Quoting ghous
yes,

It's funny how they can mislead, specially when drawn on the higher time frames. You mis draw them by a millimeter and it turns out you miss an entire breakout and retest trade on the 4h because all the time price was above your trend line.

They work best when like Mike said they are obvious to the pip.

Ghous.
I agree and with Mt4 they kinda move around when you switch time frames. PPZ's especially and round numbers are much easier to see and everyone can see them. As you and Mike say only the obvious trendlines just so you can be aware of them, not necessarily using them to trade off.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,844
  • Jul 17, 2009 3:40am Jul 17, 2009 3:40am
Quoting tac
I agree and with Mt4 they kinda move around when you switch time frames. PPZ's especially and round numbers are much easier to see and everyone can see them. As you and Mike say only the obvious trendlines just so you can be aware of them, not necessarily using them to trade off.
.
I believe . . .
  • #37,845
  • Jul 17, 2009 4:08am Jul 17, 2009 4:08am
Eur/Aud:

3rd touch of the 1765 ppz.

Not a completely blind folded trade though, the trigger was a 1h indecision bar.

AND NO THIS IS NOT A 1H PIN BAR TRADE.

Just scalping around pure (not necessarily textbook) PA.

First lot's off at 50 points (half off the position) rest at BE in hopes of hitting 17540

Ghous.
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I believe . . .
  • #37,846
  • Jul 17, 2009 4:25am Jul 17, 2009 4:25am
Quoting ghous
Eur/Aud:

3rd touch of the 1765 ppz.

Not a completely blind folded trade though, the trigger was a 1h indecision bar.

AND NO THIS IS NOT A 1H PIN BAR TRADE.

Just scalping around pure (not necessarily textbook) PA.

First lot's off at 50 points (half off the position) rest at BE in hopes of hitting 17540

Ghous.
Excellent charts, thanks Ghous. Goes to show this stuff works just takes time and practice. I'm so happy I found this place.

Tac
I hear and I forget. I see and I remember. I do and I understand.
  • #37,847
  • Jul 17, 2009 4:30am Jul 17, 2009 4:30am
Hallo folks

It`s interesting what happen on the usd/cad H4.
Waiting for a PA Signal, the yesterdays PB was to small and the price didn´t break the 1.1200.

We´ll see if it would be a pullback up or stay in trend down and
make the way to the 1.0900 or 1.0800.

Waiting and patience.


Trade well,

Martin
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: AUD-USD_H4_16july.jpg Size: 80 KB
Trade well and many pips to all. Martin
  • #37,848
  • Jul 17, 2009 4:42am Jul 17, 2009 4:42am
Quote
Just scalping around pure (not necessarily textbook) PA.
First lot's off at 50 points (half off the position) rest at BE in hopes of hitting 17540

Ghous,
Nice range trade 'scalp'.
knowing correct & strong PPZs & S/Rs helps even in times of consolidation/range.
Leave a few positions for a possible range break towards
+/- 0.72 - 0.74 area



Quote
...Waiting and patience....

Martin,
Excellent attitude. Keep it up, Sir
  • #37,849
  • Jul 17, 2009 5:20am Jul 17, 2009 5:20am
Quoting g_j_hook@yah
hey tac mate, i feel you were a bit defensive with your responce to eswapO's posts. they were trying to help. the only point they were trying to make is that the point at which you have used for the second touch for ur TL is not a good 1. think about it price nust keep falling to make that TL valid. the fact you were talking about it as a confluence gave us reason to be concerned as it wouldnt be.(untill price dropped AT LEAST and for me a third reaction to validate the line.) just dont want you to waste any money old bean,
good luck
jon
p.s....
I too like to use trendlines, but one has to be careful to choose the right ones. For example: take a look at the 1st chart (my software platform calculates the trendlines and S&R lines automatically)....wow! looks like spahgetti when it considers all the possible TL's. Then I start whittling down all the extraneous TL's to come up with what I'm happy with....Still is subjective though...

GregB
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Click to Enlarge Name: EUR_CAD2 Spot.png Size: 63 KB
  • #37,850
  • Jul 17, 2009 5:36am Jul 17, 2009 5:36am
Or....Perhaps These TL's will hold

Oh....But those S&R's....They are etched in stone....love those S&R's

GregB
Attached Image (click to enlarge)
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  • #37,851
  • Jul 17, 2009 5:43am Jul 17, 2009 5:43am
There is a hanging man (Ghous' IPB) formation on the daily NZD/USD. Notice that it's right below the rising trendline. It feels bearish.

Short from 4HR inside bar on the top PPZ.

Ken
Attached Image
  • #37,852
  • Jul 17, 2009 5:56am Jul 17, 2009 5:56am
Quoting goodtiding5
There is a hanging man (Ghous' IPB) formation on the daily NZD/USD. Notice that it's right below the rising trendline. It feels bearish.

Short from 4HR inside bar on the top PPZ.

Ken
Yup!

One of the better looking IPBs.
Attached Image
I believe . . .
  • #37,853
  • Jul 17, 2009 5:56am Jul 17, 2009 5:56am
Just came across the first mention of price pivot on the public thread page 59 http://www.forexfactory.com/showpost...&postcount=994.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,854
  • Jul 17, 2009 6:01am Jul 17, 2009 6:01am
Quoting supremeChaos
Ghous,
Nice range trade 'scalp'.
knowing correct & strong PPZs & S/Rs helps even in times of consolidation/range.
Leave a few positions for a possible range break towards
+/- 0.72 - 0.74 area
A range breakout will be treated with respect.

A new order on a retest of 1.754 if this level breaks.
I believe . . .
  • #37,855
  • Jul 17, 2009 8:23am Jul 17, 2009 8:23am
Quoting ghous
Yup!

One of the better looking IPBs.

I took this one too Ghous IPB rules
Do you think it could go down more than the nose of the IPB?
  • #37,856
  • Jul 17, 2009 8:33am Jul 17, 2009 8:33am
Home from work now till Monday, other half is at her folks for a few weeks. So I will be spending the whole weekend reading the thread!!!
I hear and I forget. I see and I remember. I do and I understand.
  • #37,857
  • Jul 17, 2009 9:25am Jul 17, 2009 9:25am
Hello all,


Nice looking pin off a 50 fib and 1.0800 resistance. A bit of traffic on the way down. Perhaps this will be ok for a few quick pips.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 16 KB
  • #37,858
  • Jul 17, 2009 9:48am Jul 17, 2009 9:48am
Quoting mbqb11
for what it is worth. James does not even use trendlines. Just horizontal support and resistance. I only personally use Extremely clear trendlines for breakouts.


Mike

I am starting to use the support and resistance, the thing is I am a gun slinger, I take trades that look like crap to everyone else but make me money and to me each indicator that will make me close a trade out too fast such as resistance and support I dont really mess with. The BB and RSI show me if it's over-extended or not, if it goes over extended I CT it on the 5min as a hedge.
Keep taking CT trades, I need more money
  • #37,859
  • Jul 17, 2009 10:02am Jul 17, 2009 10:02am
Quoting Ghettobuddha
Hello all,


Nice looking pin off a 50 fib and 1.0800 resistance. A bit of traffic on the way down. Perhaps this will be ok for a few quick pips.
Yes, perhaps a 20 pip scalp to major support at 1.0746

Good luck........on a Friday afternoon...

GregB
Attached Image (click to enlarge)
Click to Enlarge Name: USD_CHF Spot.png Size: 87 KB
  • #37,860
  • Jul 17, 2009 10:17am Jul 17, 2009 10:17am
Hi ghous,

I had Q(s) about this kind of trading style. Do you still take the trigger bar (the indecision bar, IPB) if it high is lower than the previous bar or in other word, it formed inside the previous bar given it formed in good PPZ with confluences.

Thanks bud.

Quoting ghous
Eur/Aud:

3rd touch of the 1765 ppz.

Not a completely blind folded trade though, the trigger was a 1h indecision bar.

AND NO THIS IS NOT A 1H PIN BAR TRADE.

Just scalping around pure (not necessarily textbook) PA.

First lot's off at 50 points (half off the position) rest at BE in hopes of hitting 17540

Ghous.
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