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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

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  • Post #55,761
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  • Feb 23, 2010 4:08am Feb 23, 2010 4:08am
  •  nasir.khan
  • Joined Apr 2009 | Status: Member | 2,888 Posts
Quoting bundyraider
Disliked

That pair you chose doesn't have super clear levels like some others do at times, so don't stress that you're seeing so many messy ones in it. The best examples of PPZs are by Raczekfx ...someone compiled all his posts somewhere last year in here. Go through them and check them out. You may even pick up on other tricks he uses to choose great levels (Such as bar lows on the monthly chart etc)
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Ignored
Ohh yea he is.

Here are the thread summaries thanks to Cyrus and i think this should be in post one.

Summaries from seniors from page 3000-3500.

James16, Mike and Raczekfx from page 1 to 2500.

Summaries from seniors from page 2500-3000.

J16; Jarroo; Tiaforex; StoragePro; Ryanmcd; SeekingLight; gjhookyah; Matiasfx
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  • Post #55,762
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  • Feb 23, 2010 4:23am Feb 23, 2010 4:23am
  •  triger88990
  • Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Quoting Nustra
Disliked
Trigger, thanks for the response,
where do you put your SL and how do you recognise the false move in the opposite direction?
what i have noticed is that if i put the SL at the high of the "tallest" bar, mosttimes price move to hit it and then go my direction (boy i hate it when that happens)


thanks again, i appreciate.
Ignored
you can recognise a false break, when price move above(which is our case on fiber) that congestion area and retrace back in and close below the higher boundary that define the congestion area.

After retrace she give us a PB(not a A+) but enough for me to pull the trigger because of other supported confluence,and your SL can be just above that PB,and if you look back you would see that after the break price never look back.

don't forget you must wait for that false break to occur first befor she goes in the "right" direction.

Quoting Nustra
Disliked
during demo trading, sometimes i don't put SL, just monitor the trade, but since i have a day job, that might be a bit of a stretch..
Ignored
I do this all the time,but I won't recommend to anybody to to this because is not the right way....

With your day job and without having the possibility to look for your trades I definitely recommend you to use them,because price can move unexpected way in any given time

all the best!
  • Post #55,763
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  • Feb 23, 2010 4:29am Feb 23, 2010 4:29am
  •  chatzi
  • | Joined Feb 2010 | Status: Member | 205 Posts
Quoting triger88990
Disliked
you can recognise a false break, when price move above(which is our case on fiber) that congestion area and retrace back in and close below the higher boundary that define the congestion area.

After retrace she give us a PB(not a A+) but enough for me to pull the trigger because of other supported confluence,and your SL can be just above that PB,and if you look back you would see that after the break price never look back.

don't forget you must wait for that false break to occur first befor she goes in the "right" direction....
Ignored

The EA I use is great (Multi purpose trade manager) if you can be at the charts all day, it does the following things automatically.

Set to breakeven on n pips.
Jump stop (stop jumps every n pips in profit).
Trailing stop.
Missing stop loss - this set your stop loss for n pips if you dont set one on entering.
Missing take profit - as above.

It can manage a all pairs or you can set it to manage just the chart it is on.

mark
  • Post #55,764
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  • Feb 23, 2010 4:47am Feb 23, 2010 4:47am
  •  triger88990
  • Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Quoting chatzi
Disliked
The EA I use is great (Multi purpose trade manager) if you can be at the charts all day, it does the following things automatically.

Set to breakeven on n pips.
Jump stop (stop jumps every n pips in profit).
Trailing stop.
Missing stop loss - this set your stop loss for n pips if you dont set one on entering.
Missing take profit - as above.

It can manage a all pairs or you can set it to manage just the chart it is on.

mark
Ignored

Thanks for that!

I know that are several here who use this kind of EA to manage their position,but I like to monitoring all the way a setup, this is very helpful for me bc is giving me the opportunity to see how price behave in certain areas, how bars are giving shapes.......and I think that I like look at charts

At the end it all comes from your personality

all the best!
  • Post #55,765
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  • Feb 23, 2010 4:49am Feb 23, 2010 4:49am
  •  lovejoy80
  • | Commercial Member | Joined Feb 2008 | 4,633 Posts
Haven't got a chart to hand...but EUR/GBP is currently at 0.8840 level which is a clear PPZ area on the daily...watching to see if we get any PA on the 4H / 1H time frame or if we get a breakout higher and pull back
  • Post #55,766
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  • Feb 23, 2010 4:50am Feb 23, 2010 4:50am
  •  nasir.khan
  • Joined Apr 2009 | Status: Member | 2,888 Posts
Quoting Cherry
Disliked
Couldn't resist...

I understand.. you're all sparked out

Still friends?

Have a look at the new chart, seems like most of the points that form the PPZ's are the big rubber band moves. This is part of what I used in previous method but I think Jim mentioned it.

Agree?
Ignored
Here is an example for a location to watch.

First take a look at Daily/Weekly and see how much the level is respected.

Then check 4H and we have Divergence + Double Top and 50-62 Fibs.
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  • Post #55,767
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  • Feb 23, 2010 4:51am Feb 23, 2010 4:51am
  •  nickypon
  • | Joined Jan 2009 | Status: Member | 21 Posts
Currently watching the Eur/Gbp which is at a daily PPZ. looking for PA on the 4 hour.
  • Post #55,768
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  • Feb 23, 2010 4:52am Feb 23, 2010 4:52am
  •  yarin
  • | Joined Nov 2009 | Status: Member | 39 Posts
short
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Wellcome to the good life! :)
  • Post #55,769
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  • Feb 23, 2010 4:55am Feb 23, 2010 4:55am
  •  nasir.khan
  • Joined Apr 2009 | Status: Member | 2,888 Posts
Quoting lovejoy80
Disliked
Haven't got a chart to hand...but EUR/GBP is currently at 0.8840 level which is a clear PPZ area on the daily...watching to see if we get any PA on the 4H / 1H time frame or if we get a breakout higher and pull back
Ignored
You got your chart (3 of em) in less then a minute.

Ohhhhh if you had wish for a ______ you would've got it.

be careful next time.
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  • Post #55,770
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  • Feb 23, 2010 5:07am Feb 23, 2010 5:07am
  •  chatzi
  • | Joined Feb 2010 | Status: Member | 205 Posts
Quoting triger88990
Disliked
Thanks for that!

I know that are several here who use this kind of EA to manage their position,but I like to monitoring all the way a setup, this is very helpful for me bc is giving me the opportunity to see how price behave in certain areas, how bars are giving shapes.......and I think that I like look at charts

At the end it all comes from your personality

all the best!
Ignored
Yeah I would do the same if I could watch the charts all day.
  • Post #55,771
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  • Feb 23, 2010 5:18am Feb 23, 2010 5:18am
  •  triger88990
  • Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Chart EurUsd

This move is result from a clasical 123 pattern break out.

This PB have come in shape after a rejection off of:

-a TL drawn using bar highs
-61.8 fib ret using recent swing high/low
-100% FE

We have setup with the main trend which is down.

The only problem would be those bar highs which we are trading in

PS. thanks bundy for your post,I had some A-HA moments, after going through your post this week, about 123 and FE. But I have just a question do you use it only for targets or you trade off of it.thanks

all the best!

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  • Post #55,772
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  • Feb 23, 2010 5:20am Feb 23, 2010 5:20am
  •  lovejoy80
  • | Commercial Member | Joined Feb 2008 | 4,633 Posts
Quoting nasir.khan
Disliked
You got your chart (3 of em) in less then a minute.

Ohhhhh if you had wish for a ______ you would've got it.

be careful next time.
.
Ignored
Haha...thanks - great analysis too.
  • Post #55,773
  • Quote
  • Feb 23, 2010 5:23am Feb 23, 2010 5:23am
  •  nasir.khan
  • Joined Apr 2009 | Status: Member | 2,888 Posts
BEOB is still valid and momentum is building.
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  • Post #55,774
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  • Feb 23, 2010 5:36am Feb 23, 2010 5:36am
  •  nasir.khan
  • Joined Apr 2009 | Status: Member | 2,888 Posts
Quoting triger88990
Disliked
Chart EurUsd

This move is result from a clasical 123 pattern break out.

This PB have come in shape after a rejection off of:

-a TL drawn using bar highs
-61.8 fib ret using recent swing high/low
-100% FE

We have setup with the main trend which is down.

The only problem would be those bar highs which we are trading in

PS. thanks bundy for your post,I had some A-HA moments, after going through your post this week, about 123 and FE. But I have just a question do you use it only for targets or you trade off of it.thanks...
Ignored
I don't know if it's a No Brainer but i it's a Brain Crusher for me.

You did not even waited for the break but If i would have played it i would enter at 605 after it had crossed through the Bar high's.
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Anyways just my views.
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  • Post #55,775
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  • Feb 23, 2010 6:03am Feb 23, 2010 6:03am
  •  Cherry
  • | Joined Dec 2008 | Status: Member | 79 Posts
Quoting nasir.khan
Disliked
Ohh yea he is.

Here are the thread summaries thanks to Cyrus and i think this should be in post one.

Summaries from seniors from page 3000-3500.

James16, Mike and Raczekfx from page 1 to 2500.

[url="http://www.forexfactory.com/attachment.php?attachmentid=326628&d=Oct%201,%202009%2012:40pm"]Summaries...
Ignored
Phew.. so glad I didn't have to search for these.
Thanks so much for listing them Nasir! I'm saving them where I can get at them easily.

Thanks for the PPZ posts also.

You guys are terrific in here.
  • Post #55,776
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  • Edited at 6:12am Feb 23, 2010 6:10am | Edited at 6:12am
  •  Cherry
  • | Joined Dec 2008 | Status: Member | 79 Posts
Quoting bundyraider
Disliked
OK ...but you're on probation.


Of course. Though, it's great when those Big rubber band moves happen at the same level consistently, THAT's what you really want. Many big bounces off the same level over the years.
Ignored
Oh help!... 3 months?!

Would be good if price would oblige!
  • Post #55,777
  • Quote
  • Feb 23, 2010 6:26am Feb 23, 2010 6:26am
  •  Cherry
  • | Joined Dec 2008 | Status: Member | 79 Posts
Quoting bundyraider
Disliked
Spot on.

A top notch trade would have very little resistance/support in the way of getting into a decent profit.


Keep asking away if I'm confusing you still.

That pair you chose doesn't have super clear levels like some others do at times, so don't stress that you're seeing so many messy ones in it. The best examples of PPZs are by Raczekfx ...someone compiled all his posts somewhere last year in here.

Keep in mind that some currency pairs have unclear levels and you'll blow a fuse trying to pick them out. Best to move on...
Ignored
Bundy that all makes sense. I think it is the fact some are not clear as you say and don't respect levels as consistantly.

I'll look into those examples, so glad Nasir posted the links.
This thread is a goldmine but finding the nuggets takes some diggin' !!
You mightn't see or hear from me for awhile... hey.. stop clapping....

Thanks heaps again.
  • Post #55,778
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  • Feb 23, 2010 6:26am Feb 23, 2010 6:26am
  •  benji533
  • Joined Jul 2009 | Status: THANK YOU JAMES AND MIKE!!! | 936 Posts
Quoting nasir.khan
Disliked
I don't know if it's a No Brainer but i it's a Brain Crusher for me.

You did not even waited for the break but If i would have played it i would enter at 605 after it had crossed through the Bar high's.
.

Anyways just my views.
.
Ignored
I spiked as well Nasir. Not to my liking.
But even B trades...managed with the James16's principals would avoid you from losing money almost every time.

You should be safe by now trig. If that bars closes below support, it's likely to act as resistance and you would be rewarded.

Anyway, also a full take profit on that level would worth a good bunch of money on a big enough account
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  • Post #55,779
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  • Feb 23, 2010 6:33am Feb 23, 2010 6:33am
  •  dobe_r_man
  • | Joined Sep 2009 | Status: Member | 352 Posts
Really curious to see what happens here............
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  • Post #55,780
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  • Feb 23, 2010 6:36am Feb 23, 2010 6:36am
  •  TiaForex
  • Joined Jun 2008 | Status: Grateful to Merlin, Jim and Fudd :) | 714 Posts
Quoting benji533
Disliked
I spiked as well Nasir. Not to my liking.
But even B trades...managed with the James16's principals would avoid you from losing money almost every time.

You should be safe by now trig. If that bars closes below support, it's likely to act as resistance and you would be rewarded.

Anyway, also a full take profit on that level would worth a good bunch of money on a big enough account
Ignored
Benji is right, as always.

For added confluence with that pin there is a descending trendline on that TF, and also...

...put a line at 3675 which is virtually the top of the pin, flip over to the monthly, zoom out, and see what level we're retesting....

I didn't take it because I preferred the GU BEOB and didn't want to get overexposed. I'll be out a lot today and two correlated trades with me away from my computer is too much like skydiving without a parachute for my conservative taste.
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