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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

  • #50,401
  • Dec 28, 2009 10:23am Dec 28, 2009 10:23am
Quoting marcelnyo
Well I didn't read your previous post so my bad G.

What are u doing this holiday season?
Wondering if I will be seeing my grand children or for that matter my own children some day or not?

http://www.dawn.com/wps/wcm/connect/...-karachi-qs-09
I believe . . .
  • #50,402
  • Dec 28, 2009 12:40pm Dec 28, 2009 12:40pm
blue area is where a very serious hunt for PA will commence.
Attached Image
Many choose unhappiness over uncertainty.
  • #50,403
  • Dec 28, 2009 12:46pm Dec 28, 2009 12:46pm
Quoting Dan Gilbert
blue area is where a very serious hunt for PA will commence.
On a zoomed out 1H chart I'd say the PPZ is around 0.8950. That's the area I'll be watching, so give or take a pip or two, I agree with your view.
  • #50,404
  • Dec 28, 2009 12:48pm Dec 28, 2009 12:48pm
Quoting o990l6mh
On a zoomed out 1H chart I'd say the PPZ is around 0.8950. That's the area I'll be watching, so give or take a pip or two, I agree with your view.
I dunno man... that yellow trendline is incredibly valid in my opinion....
Many choose unhappiness over uncertainty.
  • #50,405
  • Dec 28, 2009 12:55pm Dec 28, 2009 12:55pm
Quoting Dan Gilbert
I dunno man... that yellow trendline is incredibly valid in my opinion....
I'm fond of horizontal lines, nothing wrong with your trendline. Different strokes...
Attached Image (click to enlarge)
Click to Enlarge Name: 091228 audusd h1 ppz.jpg Size: 81 KB
  • #50,406
  • Dec 28, 2009 2:15pm Dec 28, 2009 2:15pm
Quoting Dan Gilbert
blue area is where a very serious hunt for PA will commence.
I am watching the white trend line and the 618. (as usual) I'll get an email when we get to 8997.

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 51 KB
  • #50,407
  • Dec 28, 2009 2:24pm Dec 28, 2009 2:24pm
Quoting KissFan
I am watching the white trend line and the 618. (as usual) I'll get an email when we get to 8997.

K.I.S.S.
more confluence!
Many choose unhappiness over uncertainty.
  • #50,408
  • Dec 28, 2009 2:30pm Dec 28, 2009 2:30pm
Quoting KissFan
I am watching the white trend line and the 618. (as usual) I'll get an email when we get to 8997.

K.I.S.S.
Wouldn't price have to break through the white trendline in order to reach 0.8997?

Not trying to be smart, just curious how you plan to manage this (potential) setup?
  • #50,409
  • Dec 28, 2009 2:47pm Dec 28, 2009 2:47pm
Quoting ghous
Wondering if I will be seeing my grand children or for that matter my own children some day or not?

http://www.dawn.com/wps/wcm/connect/...-karachi-qs-09

man that is the same city as where you live, i hope everything will be ok, i don't see a bright future for pakistan, i hope am wrong, those god damn terrorists are all over pakistan


sohail
  • #50,410
  • Dec 28, 2009 2:51pm Dec 28, 2009 2:51pm
Quoting o990l6mh
Wouldn't price have to break through the white trendline in order to reach 0.8997?

Not trying to be smart, just curious how you plan to manage this (potential) setup?
Don't mean to jump in for KISSFAN, but I am assuming he is expecting a rejection of the trendline/61.8 fib. In other words price may break through the trendline but close below it, i.e. a pin bar or other type price action at that level.

With my own pivot zones many times price will pierce the area but close back well below (or above) the area.

Nathan
  • #50,411
  • Dec 28, 2009 2:52pm Dec 28, 2009 2:52pm
Quoting o990l6mh
Wouldn't price have to break through the white trendline in order to reach 0.8997?

Not trying to be smart, just curious how you plan to manage this (potential) setup?
One must decide if they are going to trade the touch (for more potential reward) or if they are going to wait for bar confirmation. I'll be looking for some divergence as well. I like the round number of 9000 in this area. We use the term "area" instead of an exact retracement number or price because nobody knows where or if we will get a continuation or retracement. I could even envision a reversal as soon as 8913 because of a bar low that I see in that spot. Look for PA and look for it on lower TF's for entry where ever you feel comfortable. Chances are if you do not get an entry signal, you didn't want to be in a short position yet anyway. Remember, watch your charts and what price does in different areas. Do this as often as you can. When price stalls, reverses or bounces look at the bars around the current one and try to reason why price did what it did.

K.I.S.S.
  • #50,412
  • Dec 28, 2009 2:56pm Dec 28, 2009 2:56pm
Quoting dobe_r_man
Don't mean to jump in for KISSFAN, but I am assuming he is expecting a rejection of the trendline/61.8 fib. In other words price may break through the trendline but close below it, i.e. a pin bar or other type price action at that level.

With my own pivot zones many times price will pierce the area but close back well below (or above) the area.

Nathan
Yes, that's my thinking as well. Just seemed to me that price will have to rise pretty soon and pretty fast in order to break and fail at the trendline at a 0.8997-ish level.
  • #50,413
  • Dec 28, 2009 3:04pm Dec 28, 2009 3:04pm
Quoting KissFan
One must decide if they are going to trade the touch (for more potential reward) or if they are going to wait for bar confirmation....
Since I work a full time day job I stay with daily bars and try to enter either on the breaks or at retraces to minor S/R.

I wish I could do this full time, I plan to, but that's still some years into the future. It's an advantage being able to switch to a lower TF to watch for a good entry.

I agree that 0.9000 is a nice round number and a good place to watch for PA, although adjusting the PPZs to a best fit of recent PA, 0.8950 and 0.9020 would seem like good PPZs. (yes, I know they're zones, not lines, but we still need a line huh )

Thanks for your answer btw!
  • #50,414
  • Dec 28, 2009 3:17pm Dec 28, 2009 3:17pm
Between Xmas & Ainsley's Birthday Party, Rieley's young Sister{she's 2 today.} I have managed to squeeze in a moment or two to keep up with the Forum.

You guys that are Trading have Steel in the nether regions.

If you feel that you Must do this, can I suggest that Next Year, you Open a new Demo account to Trade The Holidays. I think it is the only answer you would consider to be true.

Trade for 47 weeks & Gamble for 5...
  • #50,415
  • Dec 28, 2009 3:32pm Dec 28, 2009 3:32pm
Quoting Bemac
Between Xmas & Ainsley's Birthday Party, Rieley's young Sister{she's 2 today.} I have managed to squeeze in a moment or two to keep up with the Forum.

You guys that are Trading have Steel in the nether regions.

If you feel that you Must do this, can I suggest that Next Year, you Open a new Demo account to Trade The Holidays. I think it is the only answer you would consider to be true.

Trade for 47 weeks & Gamble for 5...
Uh-oh! Maybe I just have ignorance in the upper regions. I have read some who say that they are not trading until the new year begins. I should perhaps follow suit however my risk is kept low and PA is behaving thus far. No many great set ups and as usual I only trade the good ones. I appreciate your intentions Mr Bemac that's for certain. On top of that I'm not one that enjoys gambling...seriously. I look forward to your guidance and mentorship in the new year as well.

Blessings to you and yours...

K.I.S.S.
  • #50,416
  • Dec 28, 2009 3:34pm Dec 28, 2009 3:34pm
Quoting o990l6mh
Since I work a full time day job I stay with daily bars and try to enter either on the breaks or at retraces to minor S/R.

I wish I could do this full time, I plan to, but that's still some years into the future. It's an advantage being able to switch to a lower TF to watch for a good entry.

I agree that 0.9000 is a nice round number and a good place to watch for PA, although adjusting the PPZs to a best fit of recent PA, 0.8950 and 0.9020 would seem like good PPZs. (yes, I know they're zones, not lines, but we still need a line huh )

Thanks...
I work full time too, and like you, wish I could do this instead. I keep hovering between 4 hour and daily trading.
I am finding that 4 hour gives me more stress as I want to watch the live charts more, and get a bit panicky if the trade appears to be moving away from me.
Any thoughts or help on this. Also, what confluence indicators do you look for, and how many for an A+ set up?

Many thanks.
"Fail to prepare, prepare to fail."
  • #50,417
  • Dec 28, 2009 3:41pm Dec 28, 2009 3:41pm
Quoting AnimalHungry
I entered on a retrace of Friday's EJ PB
Hey Simon, any update on this trade? It looks like it's approaching the down trend line from 10/26 and 12/04. It would be nice if more folks posted exits/trade management for others to follow.

Quoting bluetrader
Took this aud/jpy pin bar long...
I'm at BE on this long AUD/JPY pin from last week... will be looking to exit around 81.50

-- Danny
  • #50,418
  • Dec 28, 2009 4:15pm Dec 28, 2009 4:15pm
Quoting Bemac
Between Xmas & Ainsley's Birthday Party, Rieley's young Sister{she's 2 today.} I have managed to squeeze in a moment or two to keep up with the Forum.

You guys that are Trading have Steel in the nether regions.

If you feel that you Must do this, can I suggest that Next Year, you Open a new Demo account to Trade The Holidays. I think it is the only answer you would consider to be true.

Trade for 47 weeks & Gamble for 5...
Patience is essential
  • #50,419
  • Dec 28, 2009 4:19pm Dec 28, 2009 4:19pm
Quoting o990l6mh
Wouldn't price have to break through the white trendline in order to reach 0.8997?

Not trying to be smart, just curious how you plan to manage this (potential) setup?
Well price can break a trendline and still "work"... i attached a picture of NZDCHF where I found a nice 4hr pin to short in the highlighted area, based on the .7500 round number/PPZ, and yellow trendline. Did the yellow trendline break? Yes. Would I say the trade failed? Definitely not.
Attached Image
Many choose unhappiness over uncertainty.
  • #50,420
  • Dec 28, 2009 4:24pm Dec 28, 2009 4:24pm
Quoting benem
???
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