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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

  • #51,981
  • Jan 19, 2010 1:22pm Jan 19, 2010 1:22pm
Quoting djmanu
The EURUSD 4h Pin have a very nice shape at a strong PPZ, do you like it ?
the area of this pb is okay, but im a little concerned about about the giant BEOB forming on the daily ...
just my 2 cents
  • #51,982
  • Jan 19, 2010 1:26pm Jan 19, 2010 1:26pm
Quoting djmanu
The EURUSD 4h Pin have a very nice shape at a strong PPZ, do you like it ?
It does have a nice shape on my feed too. But it pierced deeper into that strong ppz off an expanding range/triangle. It's not a very convincing recovery for a New York session in my opinion, maybe just profit taking, and not likely to struggle higher than the next ppz (grey rectangle)

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Gone to a better place
  • #51,983
  • Jan 19, 2010 1:29pm Jan 19, 2010 1:29pm
Quoting ppfx
the area of this pb is okay, but im a little concerned about about the giant BEOB forming on the daily ...
just my 2 cents
If eurusd closes below 143 good chance it could head to 140.60 . Sorry cant post a chart , cheers , Gary
  • #51,984
  • Jan 19, 2010 1:32pm Jan 19, 2010 1:32pm
Quoting djmanu
The EURUSD 4h Pin have a very nice shape at a strong PPZ, do you like it ?
oh and look what happened recently on a similar situation on EU ... it is normal a small retracement after the BEOB has formed but the main trend is still down, so be careful
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  • #51,985
  • Jan 19, 2010 1:33pm Jan 19, 2010 1:33pm
see 4hr chart on IBFX.... hopefully it closes nicely???
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Many choose unhappiness over uncertainty.
  • #51,986
  • Jan 19, 2010 1:44pm Jan 19, 2010 1:44pm
i think that is about time that the gold goes down http://www.forexfactory.com/showpost.php?p=3372613&postcount=51796 it has retraced a little and now it should go

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  • #51,987
  • Jan 19, 2010 2:00pm Jan 19, 2010 2:00pm
chart ....
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Simplicity is the key to success
  • #51,988
  • Jan 19, 2010 2:19pm Jan 19, 2010 2:19pm
Morning from Melbourne...

What do you guys make of the 4h pin on eur/aud, nose could be longer but with 1.5400 being such a pivotal level it adds a bit more weight, imho.

Looking like a nice daily pin forming on the GU aswel.
Learning to be rigid in my rules & flexible in my expectations
  • #51,989
  • Jan 19, 2010 2:50pm Jan 19, 2010 2:50pm
Do I have green light on that one!?
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  • #51,990
  • Jan 19, 2010 2:58pm Jan 19, 2010 2:58pm
Quoting gasgas
Do I have green light on that one!?
haha, I dunno... I didn't trade it. the 4hr bar didn't close as a big BEOB so I'm not doing anything about it. if it does bounce down a bit, I may look for some break patterns to get in later.
Many choose unhappiness over uncertainty.
  • #51,991
  • Jan 19, 2010 3:11pm Jan 19, 2010 3:11pm
Quoting gasgas
Do I have green light on that one!?
Gas,

I like where it sits (descending TL and S/R level at 16900, round number) but i have concerns over the size of the pin bar. The move up is in the range of 550 pips but the pin that you'ed be looking to reverse it is only 50 pps

Just my observations. It will probably tank now i've said that
  • #51,992
  • Jan 19, 2010 3:25pm Jan 19, 2010 3:25pm
Quoting squeezy
chart ....
Squeezy, yeah i have been watching this one too. The thing i like about it is the fact that the eyes are practically at identical levels. Might be a good sign of a rejection of price to the south.
  • #51,993
  • Jan 19, 2010 3:33pm Jan 19, 2010 3:33pm
Thanks for your thoughts and I agree with you both, this is to small pin to be traded by it self...I just like where it is, +div, TL, PPZ. Very small risk anyway, but huge TP... I hope it will get there before christmas haha....
  • #51,994
  • Jan 19, 2010 3:59pm Jan 19, 2010 3:59pm
GBPUSD closing as a daily pin bar.

Fib and 365 EMA confluence as well as MACD divergence.

Thoughts?
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  • #51,995
  • Jan 19, 2010 4:03pm Jan 19, 2010 4:03pm
Quoting Dan Gilbert
see 4hr chart on IBFX.... hopefully it closes nicely???
Saw this. I am showing an IB on the IBFX 4hr and divergence on MACD. I'll look at this further when I get back home to my screens. Geeze! This pair's rise is almost parabolic. I see the trendline the 150 and the horizontal resistance confluence but would not rule out a touch of 170 before heading back down. I'm just trying to keep an open mind.

K.I.S.S.
  • #51,996
  • Jan 19, 2010 4:18pm Jan 19, 2010 4:18pm
Quoting Glenborrell
Squeezy, yeah i have been watching this one too. The thing i like about it is the fact that the eyes are practically at identical levels. Might be a good sign of a rejection of price to the south.
I consider long move on daily. DBLHC is forming.

http://picnac.com/images/246uc1.gif
  • #51,997
  • Jan 19, 2010 4:35pm Jan 19, 2010 4:35pm
Quoting o990l6mh
GBPUSD closing as a daily pin bar.

Fib and 365 EMA confluence as well as MACD divergence.

Thoughts?
Location is one of the best i've seen in a while - im tempted to lower risk by taking it on some retracement, but safest as always is to wait for break ..
  • #51,998
  • Jan 19, 2010 4:40pm Jan 19, 2010 4:40pm
Quoting strateg119
I consider long move on daily. DBLHC is forming.

http://picnac.com/images/246uc1.gif

Hi,

Feel the same too. Also daily close is DBLHC, and close above the 1.03 level.

Better stay out for this 4hr candle even it look nice in terms of size and shape.


There is always good trade around.

Anyone look at the USDJPY, BUOB bar?
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  • #51,999
  • Jan 19, 2010 4:59pm Jan 19, 2010 4:59pm
Quoting pipmyride
Location is one of the best i've seen in a while - im tempted to lower risk by taking it on some retracement, but safest as always is to wait for break ..

Hi Pip,

Looks like 61.8% retracement align with 6400 round number. It will certain be a good area for early entry.

I am thinking if take the break entry for this one, the resistence below is too close and easily get stop out.

I like the location so far and the confluences, bar size and shape. I will take the early entry with 50 pips stop.

PM
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  • #52,000
  • Jan 19, 2010 5:09pm Jan 19, 2010 5:09pm
Quoting o990l6mh
GBPUSD closing as a daily pin bar.

Fib and 365 EMA confluence as well as MACD divergence.

Thoughts?
This is my first trade in 2 weeks. The only decent daily PB setup I've noticed in that time. At swing high, nice pin, off 50% Fib. First possible trouble area I see is PPZ at 1.6250 and then at PPZ and round number 1.6200. Have placed sell stop below PB, just under RN 1.6300.
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