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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

  • #53,161
  • Jan 28, 2010 9:27am Jan 28, 2010 9:27am
Quoting Dan Gilbert
is disappointing...
Sorry Dan, I saw that completely differently. Downtrend, swing high, weak bearish pin bar, bearish indecision bar, bearish engulfing bar. I can see how convincing your set up could be, though...
Gone to a better place
  • #53,162
  • Jan 28, 2010 9:28am Jan 28, 2010 9:28am
Quoting ehrek
Back in the wedge miss daisy!
Is it just my mind or should we immediately call the moderaters?
Gone to a better place
  • #53,163
  • Jan 28, 2010 9:29am Jan 28, 2010 9:29am
Taken profit on the 4HR EJ pin ... price at a strong PPZ and 50% fib area now.

Moved stop to BE on GJ pin, again at a PPz (much weaker) giving it room to move down further.
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  • #53,164
  • Jan 28, 2010 9:31am Jan 28, 2010 9:31am
Wasn't too keen on the (proxy) pin, but the confluence of a strong PPZ and 50% fib swayed it...glad I did, turning into a good day to choose to have off work!
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  • #53,165
  • Jan 28, 2010 9:44am Jan 28, 2010 9:44am
Quoting smikester
Is it just my mind or should we immediately call the moderaters?
Hehehe
lowest draw down possible please.
  • #53,166
  • Jan 28, 2010 9:44am Jan 28, 2010 9:44am
I'll trade this short if it closes correctly in 17 min. 1 Hr bars need to look real good for me to trade them. TP 1.0555.

K.I.S.S.
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  • #53,167
  • Jan 28, 2010 9:48am Jan 28, 2010 9:48am
Sometimes (or often ) LINE chart helps you to see SR levels. The principle works on almost any TFs. It helps to judge the dynamics and see where PA is to be expected.

No wonder Raczek likes Line charts too...
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One Chart is Worth Ten Thousand Words.
  • #53,168
  • Jan 28, 2010 9:51am Jan 28, 2010 9:51am
Quoting nasir.khan
I don't think so but i could be wrong.
.
.
I was wrong!!!!

but it does't take much time to admit it cause the way i trade i won't survive if i sit around to cry about them, I know that.

Bought UC also but killed it just now. Half gone rest at BE.
.
.
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  • #53,169
  • Jan 28, 2010 9:54am Jan 28, 2010 9:54am
the GBPCHF IBFX 4hr BEOB is so damn huge........
Many choose unhappiness over uncertainty.
  • #53,170
  • Jan 28, 2010 9:55am Jan 28, 2010 9:55am
Quoting Dan Gilbert
This one is on the live account, and I am losing faith in it... just a breakout pattern that is not going very fast, which defeats the purpose..... I have moved my stop up a bit, so I won't take a full 2% loss on it, but this one is disappointing...
Hey Dan , nzdusd looks like it may stall at the 7060 level . If so we need a little pa to reverse ! Your thoughts ? Cheers Gary
  • #53,171
  • Jan 28, 2010 9:55am Jan 28, 2010 9:55am
Eur/gbp 4 hours closes in 6 minutes. BUOB


Any thoughts?
  • #53,172
  • Jan 28, 2010 9:56am Jan 28, 2010 9:56am
Quoting Cbh123
This is what I'm watching for dailies today DJmanu.

Negatives:
1. Trading into PPZ at 146.5/147.00, would definitely move to B/E and take some off here if not earlier.

NOTE: THIS IS NOT A TRADE RECOMMENDATION, AND IS JUST FOR DISCUSSION.
If anyone else took the GBP/JPY daily pin, I hope it was a successful trade for you. If not, you should go over James16 videos in the guest section. Because of the things we learn here, we knew exactly where price was going.

Of course, we could hope that this move would turn into a big runner (I thought that was a small possibility so I left 1/4 of my position to run with the stop at B/E). But we CAN'T let trades like this turn into losers! This went exactly where it was supposed to go.

Thanks James16! You've taught us to look at the market in a whole new way.

Cory
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  • #53,173
  • Jan 28, 2010 9:57am Jan 28, 2010 9:57am
Quoting Dan Gilbert
the IBFX 4hr BEOB is so damn huge........
Which pair?

K.I.S.S.
  • #53,174
  • Jan 28, 2010 10:03am Jan 28, 2010 10:03am
Quoting KissFan
Which pair?

K.I.S.S.
gbpchf
Many choose unhappiness over uncertainty.
  • #53,175
  • Jan 28, 2010 10:05am Jan 28, 2010 10:05am
Quoting KissFan
I'll trade this short if it closes correctly in 17 min. 1 Hr bars need to look real good for me to trade them. TP 1.0555.

K.I.S.S.
No trade on 1hr USDCAD.

K.I.S.S.
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  • #53,176
  • Jan 28, 2010 10:06am Jan 28, 2010 10:06am
Quoting ertorque
Hi Cory,
However, I do not understand what PPZ is and how it should be used like you mentioned in the positives and negatives of your setup. Would appreciate it if you could elaborate?

CY
Hi Ertorque,

Thanks for your question. Feel free to ask anything, we are all here to help.

A PPZ is a "price pivot zone." It is an area where price flips from resistance to support. If you scroll back on GBP/JPY you can see that the 143.50 round number has acted as support and resistance in the past. This makes it more likely to act as support or resistance in the future. For me a PPZ is one of the strongest factors to look for when looking for confluence to find strong areas where price might react.

The more touches off an area the stronger the PPZ, so in this case it was a minor PPZ.

The blue areas on the attached chart show where price found support and resistance.

Cory
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  • #53,177
  • Jan 28, 2010 10:06am Jan 28, 2010 10:06am
Quoting Dan Gilbert
gbpchf

Thx bro!

K.I.S.S.
  • #53,178
  • Jan 28, 2010 10:07am Jan 28, 2010 10:07am
Quoting KissFan
No trade on 1hr USDCAD.

K.I.S.S.
I saw that pin close and felt sad for you
Many choose unhappiness over uncertainty.
  • #53,179
  • Jan 28, 2010 10:07am Jan 28, 2010 10:07am
USD/Japan-ee! (kinda rhymes!)
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lowest draw down possible please.
  • #53,180
  • Jan 28, 2010 10:09am Jan 28, 2010 10:09am
Quoting KissFan
Thx bro!

K.I.S.S.
I was especially pleased to see the GBPCHF 4hr bar close below the 1.7000
Many choose unhappiness over uncertainty.
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