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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

  • #59,781
  • Apr 1, 2010 5:01am Apr 1, 2010 5:01am
Quoting lovejoy80
Here is the chart (thanks Pmn100 - downloaded the Forex Ltd platform to get this)...
Us lurkers have our uses!
  • #59,782
  • Apr 1, 2010 5:07am Apr 1, 2010 5:07am
Quoting supremeChaos
Hey Chris!
it's been a while
Yes it has been buddy. You know me, I stay pretty quiet most of the time.
Ghost Rider - WWTBMD?
  • #59,783
  • Apr 1, 2010 5:08am Apr 1, 2010 5:08am
Quoting lovejoy80
Here is the chart (thanks Pmn100 - downloaded the Forex Ltd platform to get this)...think I'm being stupid but I dont really see anything in relation to the BEOB on Fiber than Dan was talking about?
Both of us are looking at the same chart and we see different things,thats because each of us is incline and was thought to look at it differently due to our differently personality.

you must be very careful how you would drawn your TL, they are very subjective tough,others may use the extreme points others will look for the close points(as I mentioned in my previous post).


I'll explain with a chart it will be more relevant

We are definitely in a up trend price is making clear HH and HL.Near the 80 zone price was playing in a narrow range for several days,befor it decided in wich direction it will go.She finally break upwards in the direction of the trend, now we would expect that on the way down price to be rejected(in a perfect world),remember old resistance becoming new support. This zone is filled now with a lot of confluence, all we want to do is to watch how price will react at this point

hope it helps

PS: this are just my pure judgments,so I may be wrong

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  • #59,784
  • Apr 1, 2010 5:11am Apr 1, 2010 5:11am
Quoting supremeChaos
Hello triger,
i have a broker list but i have been using a different PC.
if u can, search through my posts, i surely have mentioned 1-3brokers with USDX (i think mid-2009 posts).
Forex Ltd, then check Alpari RU (Russia), Sig MT4 (this one may have the LFX index instead of the USDX).
i'll PM u once i remember the correct ones.
thanks buddy!

I just check out ForexLtd by someone else recommendation

all the best!!
  • #59,785
  • Apr 1, 2010 5:31am Apr 1, 2010 5:31am
Quoting triger88990
Both of us are looking at the same chart and we see different things,thats because each of us is incline and was thought to look at it differently due to our differently personality.

you must be very careful how you would drawn your TL, they are very subjective tough,others may use the extreme points others will look for the close points(as I mentioned in my previous post).


I'll explain with a chart it will be more relevant

We are definitely in a up trend price is making clear HH and HL.Near the 80 zone price was playing in a narrow...
Triger - thanks for taking the time to go through your analysis.

You are definitely right about TL's...personally I think the longer you play with a TL the more you get it to fit what you want to see. You ignored those bars closes around 79.40 in your TL whereas I included them in my TL - I prefer not to miss out bars unless there is some some clear 'freak' whipsaw (mostly caused by news) which is away from the reaminder of the trend (not sure if that makes sense).

I prefer to have parrallel lines in a clear trend like as I think it gives a clearer direction of the extreme points.

So you were basically working on the basis that the USDX was heading back to the upper breakout area as a retest etc and thus the USD should weaken.

Once again thanks for your analysis...now I have an extra tool to bear in mind when trading USD crosses
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  • #59,786
  • Apr 1, 2010 5:50am Apr 1, 2010 5:50am
Quoting supremeChaos
pin by proxy
Hey nasir,
here's an example.
proxy = substitute; pin by substitue (left eye)
Quoting mbqb11
a proxy bar is a bar that uses not the previous bar but some other bar to be contained within. So a true pinbar has the open and close within the prior bar, but a proxy pin may have its open and close within a bar that is 20 bars back, or 3 etc. The idea is that proxy bar is containing the pin and going to act as important piece to price making its way higher or lower

Mike
Thanks.
.
  • #59,787
  • Apr 1, 2010 6:46am Apr 1, 2010 6:46am
Quoting joelcf
I'm going to go ahead and assume - based on screenname and location - that your family runs Bundaberg Rum, and propose that *I* know you and therefore should get a job testing beverages for their potency.
lol. The ol' "Queensland diesel". No. That'd be a little too convenient if it were the case.
Bundy's status today: "Waiting..."
  • #59,788
  • Apr 1, 2010 7:34am Apr 1, 2010 7:34am
Quoting Bryan
Anyone liking the usdjpy monthly buob?
i do http://www.forexfactory.com/showpost...ostcount=59685
  • #59,789
  • Apr 1, 2010 7:48am Apr 1, 2010 7:48am
Quoting triger88990
hey lyra

if you may me to chime in with some thoughts

First of all you spot it right the setup,thats what we look for.I look at this kind of setups like a breakout pullback pattern.And when on the way down price is aligned at strong confluence zones thats a good sign.

But I go a step further with my entry point and try to nail down a better price so I can keep it tight. On eurgbp for example I'll look at .8835 to see how price will react at it. why .8835? it is because here in the past we did have a great imbalance between supply and demand,...
Thanks a lot for your comment. My order on EURGBP has been triggered at 0.8845(demo), and my stoploss was placed at 0.8790. Let see how it goes.
  • #59,790
  • Apr 1, 2010 8:56am Apr 1, 2010 8:56am
Heres a nice solid ppz with a pin+buob
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  • #59,791
  • Apr 1, 2010 9:15am Apr 1, 2010 9:15am
Quoting NosferatuMan
Well, this one has been mentioned a few times lately. I'm long since that bullish pin and at present I have my full TP just below 127.00.

I decided to take a look at the monthly chart and I could find a possible 2 months pin forming at an interesting location.

Anyway, just some thoughts about what we could be facing next (not guessing ).

Nos
TP achieved.
Best trade I had so far (still demo)
  • #59,792
  • Apr 1, 2010 9:37am Apr 1, 2010 9:37am
Quoting NosferatuMan
TP achieved.
Best trade I had so far (still demo)
Great Job NOS!!

Nathan
  • #59,793
  • Apr 1, 2010 9:40am Apr 1, 2010 9:40am
Quoting albchr
Good day everyone

How's everyone doing in one of my all time favorite threads?
hey stranger!! hows trick bro !?

hope everything is good with you. Hows the trading going these days?

hope you are gonna stick around for a while!?!?!

jon
PATIENCE... DISCIPLINE
  • #59,794
  • Apr 1, 2010 9:45am Apr 1, 2010 9:45am
Quoting dobe_r_man
Great Job NOS!!

Nathan
Thanks for all your support, Nathan
  • #59,795
  • Apr 1, 2010 9:52am Apr 1, 2010 9:52am
An IloadsabarsB on the eu/nz 4h TF that i think is worth watching. not the greatest location but price has reacted there pretty convincingly in the recent past. if it breaks north i will wait for a new high before entering with my stop at 1.9080, targeting 1.9200 then 9300.Although i will be watching closley with that long downtrend we are in.

jon


EDIT: ahha, the right chart!! hehe
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PATIENCE... DISCIPLINE
  • #59,796
  • Apr 1, 2010 9:58am Apr 1, 2010 9:58am
Dear traders and friends,

I have been a silent reader of this thread from many months and successfully trading the setups,

But today, i want to share a very powerful setup Trade with you which just completed a while back

GBP CHF

on H4 it was a clear down trend
Price reacted to upper channel line voilently

On H1

We had a 61.8 % fib retracement and H1 price was not willing to close above this level
We had a nice BEOB and soon following it after 2 bars was a pin bar

And finally we had a red candle closing at it's lower area + taking the BEOB lows


So in summary , we had

PA on imp Fib with the Trend
what else you need?

i will update more such setups ......

seeya
Winston
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #59,797
  • Apr 1, 2010 10:04am Apr 1, 2010 10:04am
Chf/Jpy weekly...

chart.
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I believe . . .
  • #59,798
  • Apr 1, 2010 10:31am Apr 1, 2010 10:31am
confluence.

g.
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I believe . . .
  • #59,799
  • Apr 1, 2010 10:32am Apr 1, 2010 10:32am
Quoting Dan Gilbert
that has got to be the most confluenced area I have seen since I have started studying J16.

there's a descending trendline there too that lines up with the PPZ/61.8/150EMA. If price doesn't bounce off this area (143.20), I will sh!t bricks.
Here we are in the zone. Touch traders take note.

Waiting for some nice Bearish PA is what we do.

Now what if Price cuts up and through this area? How strong of an indication would that tell us that the uptrend will continue?

Price maybe eyeballing the 145.00. No worries, we'll let PA show us the way.
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Indicators show the past. Price Action "Indicates" the future.
  • #59,800
  • Apr 1, 2010 10:34am Apr 1, 2010 10:34am
Quoting ghous
confluence.

g.

Hey Rac . . . . you changed your username. We already have a ghous.




Indicators show the past. Price Action "Indicates" the future.
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