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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

  • #46,021
  • Oct 14, 2009 6:25am Oct 14, 2009 6:25am
Quoting supremeChaos
nothing wrong in considering it (the pink box)
Sir jarroo must've concentrated on pointing out main areas on those 2 charts.
if u noticed, on the 2nd chart, price bumped on this pink box area.
Yea just take a look now every time price touches it BANG. But i did not mentioned cause it's after the fact.
  • #46,022
  • Oct 14, 2009 6:59am Oct 14, 2009 6:59am
I wont do these.

No confluence other then Div.

AU is well above the RN and EU is well Below.

Any thoughts.
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  • #46,023
  • Oct 14, 2009 7:46am Oct 14, 2009 7:46am
Quoting nasir.khan
I was going through some old posts and got stuck on this.

http://www.forexfactory.com/showpost...ostcount=45206

He did not draw a PPZ here. (pink box)

Jarroo is not online so if anyone else??


Thanks.
hi guys, for what its worth i agree with SC, i think you have identified an important level and one to be aware of and im sure Jarroo was also, at the point of posting his chart it had only two touches and so i think he just probably prefers to keep a clean chart?? Well done for noticing this area though and im sure many people will benefit from your observations.
jon
PATIENCE... DISCIPLINE
  • #46,024
  • Oct 14, 2009 8:17am Oct 14, 2009 8:17am
I have no clue as to how I missed this amazing post by Aaron.

Post number 24,631. Go and read it and then read it again, especially you newcomers that don't already know this. The real lesson is patience. And backtesting is really honing yourself. That's good stuff my man. Thanks for that post Aaron.

You wanted to look and see how far you've come from that post to now, and IMO you've come sooooo far. I'm proud and happy of you/for you for that brother.
I dream, therefore I become.
  • #46,025
  • Oct 14, 2009 8:36am Oct 14, 2009 8:36am
Quoting mike w
I have no clue as to how I missed this amazing post by Aaron.

Post number 24,631. Go and read it and then read it again, especially you newcomers that don't already know this. The real lesson is patience. And backtesting is really honing yourself. That's good stuff my man. Thanks for that post Aaron.

You wanted to look and see how far you've come from that post to now, and IMO you've come sooooo far. I'm proud and happy of you/for you for that brother.
could please post a link I am on my cell and that's one hell of task to get there. THANKS.
  • #46,026
  • Oct 14, 2009 8:55am Oct 14, 2009 8:55am
Quoting nasir.khan
could please post a link I am on my cell and that's one hell of task to get there. THANKS.
Here you are http://www.forexfactory.com/showpost...ostcount=24631 it sure was a great post
  • #46,027
  • Oct 14, 2009 9:04am Oct 14, 2009 9:04am
Quoting mike w
I have no clue as to how I missed this amazing post by Aaron.

Post number 24,631. Go and read it and then read it again, especially you newcomers that don't already know this. The real lesson is patience. And backtesting is really honing yourself. That's good stuff my man. Thanks for that post Aaron.

You wanted to look and see how far you've come from that post to now, and IMO you've come sooooo far. I'm proud and happy of you/for you for that brother.
Wow, that was a walk down memory lane. Was it really only March.

I really appreciate your warm words Mike, and am grateful for all the help you've given me along the way. Reading your post history was a great learning tool for me and I recommend everyone does it.

Great group of people here...
  • #46,028
  • Oct 14, 2009 9:07am Oct 14, 2009 9:07am
Just thought i would share how i play B type trades, not for the faint of heart LOL but after practice they are easy.

Note, chart is only zoomed in to show a closer look, normaly the chart is zoomed out to have a better look at the PPZ (1st gray marked area)

Another screen dump to add to my successful trades folder


sohail

oh one more thing, i also have a loosing trades folder where i screen dump and anotate my loosing trades, this has helped me alot to show me where and why the trade was a looser, so i can reflect back on it and not make the same mistake again
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  • #46,029
  • Oct 14, 2009 9:13am Oct 14, 2009 9:13am
We're heading for the retracement on the gbp/'usd from yesterday's BUOVB. I'll be watching intently for any 4 hour sign of exhaustion to the downside for another rally up. If nothing comes, then I'll be trading this down again tomorrow most likely.
I dream, therefore I become.
  • #46,030
  • Oct 14, 2009 10:20am Oct 14, 2009 10:20am
Aaron, nice to read again your post.

By the way, witch backtest program have you used for training?
  • #46,031
  • Oct 14, 2009 10:31am Oct 14, 2009 10:31am
C setups are my enemy and I believe they spawn from impatience. Dwelling on patience.

Quoting TiaForex
Everyone morning I wake up and read the thread.

This was the maddest morning ever.

Jim's live touch trades, Texan self defence law, snakes and what rats to feed them....Mikey's friends....

I haven't laughed or nodded so much in a while. Thanks guys. Feels like old times.

Agree with you totally about protecting your family Jim. I think that's what lifetime pf membership is for. The kind of crazy that's going to risk 50% a trade and then come after you when he strikes out, is not the kind of crazy that's going to stick around 12 months patiently...
  • #46,032
  • Oct 14, 2009 10:32am Oct 14, 2009 10:32am
Quoting Sohail786
Just thought i would share how i play B type trades, not for the faint of heart LOL but after practice they are easy.

Note, chart is only zoomed in to show a closer look, normaly the chart is zoomed out to have a better look at the PPZ (1st gray marked area)

Another screen dump to add to my successful trades folder


sohail

oh one more thing, i also have a loosing trades folder where i screen dump and anotate my loosing trades, this has helped me alot to show me where and why the trade was a looser, so i can reflect back on it and not...

One thing I found out is if you zoom WAY in you can make crap look good, I zoom out far so I don't fake myself out into a crap trade.
Keep taking CT trades, I need more money
  • #46,033
  • Oct 14, 2009 10:55am Oct 14, 2009 10:55am
Quoting NosferatuMan
Aaron, nice to read again your post.

By the way, witch backtest program have you used for training?
I used forextester (www.forextester.com) and had no complaints. Good piece of software IMO.

Another great way to research is to take your MT4, set up a profile, and then mark off every outside bar over the last few years on a pair with an arrow (I start with the four dollar majors, and then widen to every pair I trade). Then just spend a lot of time staring at the screen, looking at the ones that failed, the ones that succeeded, why and where they turned around. It's a great way to develop confidence and form a strategy and it doesn't take long.

Do the same for every type of bar you like to trade. Be vigilant though, because pins that reversed quick often get lost in the chop and you need to seek them out. Pins that shot off for 3R are instantly visible of course.
  • #46,034
  • Oct 14, 2009 10:58am Oct 14, 2009 10:58am
Quoting TiaForex
I used forextester (www.forextester.com) and had no complaints. Good piece of software IMO.

Another great way to research is to take your MT4, set up a profile, and then mark off every outside bar over the last few years on a pair with an arrow (I start with the four dollar majors, and then widen to every pair I trade). Then...
Great

Thanks you.
  • #46,035
  • Oct 14, 2009 11:25am Oct 14, 2009 11:25am
Quoting Ryanmcd
One thing I found out is if you zoom WAY in you can make crap look good, I zoom out far so I don't fake myself out into a crap trade.

exactly right, that is why i said in my earlier post to have the chart zoomed out, that chart was zoomed in to give a closer look.

another zoomed out chart, shows clear filps between S/R in December 2008, which is another reason why i took the trade
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  • #46,036
  • Oct 14, 2009 11:39am Oct 14, 2009 11:39am
Quoting raczekfx

I knew that the second after I posted it. lol
Indicators show the past. Price Action "Indicates" the future.
  • #46,037
  • Oct 14, 2009 11:45am Oct 14, 2009 11:45am
Quoting nasir.khan
I was going through some old posts and got stuck on this.

http://www.forexfactory.com/showpost...ostcount=45206

He did not draw a PPZ here. (pink box)

Jarroo is not online so if anyone else??

Thanks.
Quoting whitegoodman
its not a fib or round number
Quoting supremeChaos
nothing wrong in considering it (the pink box)
Sir jarroo must've concentrated on pointing out main areas on those 2 charts.
if u noticed, on the 2nd chart, price bumped on this pink box area.
That's right. They are the confluenced levels; Round numbers, PPZ and Fib levels. The Pink Box is not ignored, it just doesn't carry as much weight then the confluenced levels if PA develops.
Indicators show the past. Price Action "Indicates" the future.
  • #46,038
  • Oct 14, 2009 12:01pm Oct 14, 2009 12:01pm
Quoting nasir.khan
1-Price was in an uptrend hit it and came down.
2-Halted for a while.
3-Retraced back to this level and then back up.

Or are you sayin we can't draw until we hav a FIB or RN.
Yes. We want as many confluences supporting Price Action. We are a cheetah waiting in the bush for a sick baby elk, that's stuck in the mud, that's also blind. The pink box is a level that's definitely on the radar but I would rather see PA develop on a stronger level then a weaker one.

Now I'm not saying if PA develops on that level that it can't be traded, but a tighter trade management style must be required. But, then again, passing on the trade is not a bad decision either.
Indicators show the past. Price Action "Indicates" the future.
  • #46,039
  • Oct 14, 2009 12:03pm Oct 14, 2009 12:03pm
Quoting g_j_hook@yah
hi guys, for what its worth i agree with SC, i think you have identified an important level and one to be aware of and im sure Jarroo was also, at the point of posting his chart it had only two touches and so i think he just probably prefers to keep a clean chart?? Well done for noticing this area though and im sure many people will benefit from your observations.
jon
Well said jon.
Indicators show the past. Price Action "Indicates" the future.
  • #46,040
  • Oct 14, 2009 12:20pm Oct 14, 2009 12:20pm
Quoting Sohail786
Just thought i would share how i play B type trades, not for the faint of heart LOL but after practice they are easy.

Note, chart is only zoomed in to show a closer look, normaly the chart is zoomed out to have a better look at the PPZ (1st gray marked area)

Another screen dump to add to my successful trades folder


sohail

oh one more thing, i also have a loosing trades folder where i screen dump and anotate my loosing trades, this has helped me alot to show me where and why the trade was a looser, so i can reflect back on it and not...
Very nice sohail. Reading Price like a book.
Indicators show the past. Price Action "Indicates" the future.
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