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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

  • #60,461
  • Apr 9, 2010 1:31pm Apr 9, 2010 1:31pm
Quoting antgal23
Hi Ghous

you just saved my sanity!

im still in beginner mode , had spotted your cherries and saved the pics for the folder but was wondering why nobody had them mentioned here

what is your take on trading pbs not at a swh or swl?

cheers
Anthony
If not at swing highs and swing lows I like them at highly confluenced zones defined by moving averages, fibs and BRNs/PPZs.

Shoot any specific questions you might have.

g.
I believe . . .
  • #60,462
  • Apr 9, 2010 1:34pm Apr 9, 2010 1:34pm
hmmmm! audcad breaks upwards in line with the trend
next week shld be promising, hopefully get to see 9500
spotted a discount entry on a lower tf, ill update this later, been following this closely, just hope ill be on my system when it explodes
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Simplicity is the key to success
  • #60,463
  • Apr 9, 2010 1:38pm Apr 9, 2010 1:38pm
Quoting The Captain
Taking it before the weekend?
i havnt decided wether to trade it or not yet, a lot depends on the close. i will probably wait untill sunday eve to set any orders(after the spread have settled down on oanda) but i would have no problem setting orders this eve if i thought it would be the better option, e.g. if i was expecting a hard break after some tight consolidation or somwthing like that...??

jon
PATIENCE... DISCIPLINE
  • #60,464
  • Apr 9, 2010 1:40pm Apr 9, 2010 1:40pm
Quoting jspeakman
Hi

Passed on EU/USD because I thought bar lows/highs around 13400 might be a problem. Not sufficient to worry about I guess,

Thanks

J
Your concern was legitimate. I was watching that level like a hawk, was ready to kill the trade for a small loss/profit if price found trouble breaking it. But then as you might have noticed price never looked back once it broke the PB high, which kept me in the trade.

Another important reason I took this one was that it had a clear trouble area of 1.35 it could have expected to be heading for. It might not appear so but a clear target close by a valid setup is as good a point to be considered as any confluence factor.


g.
I believe . . .
  • #60,465
  • Apr 9, 2010 1:45pm Apr 9, 2010 1:45pm
Hi Ghous

how do use ma s to help you decide if the pb is worth taking on?

Anthony
  • #60,466
  • Apr 9, 2010 1:46pm Apr 9, 2010 1:46pm
Quoting ghous
Your concern was legitimate. I was watching that level like a hawk, was ready to kill the trade for a small loss/profit if price found trouble breaking it. But then as you might have noticed price never looked back once it broke the PB high, which kept me in the trade.

Another important reason I took this one was that it had a clear trouble area of 1.35 it could have expected to be heading for. It might not appear so but a clear target close by a valid setup is as good a point to be considered as any confluence factor.


g.
Nice one ghous - filed that in the memory bank!

Thanks again

J
  • #60,467
  • Apr 9, 2010 1:53pm Apr 9, 2010 1:53pm
Quoting Fxnumen
The daily pin on USD/CHF I posted yesterday broke as expected. And It broke well. If you entered as James advocates (at the break) u r still in good pips. If u traded as seeking advocates (.618RET) though risky, u r in better pips.

Anyway I hope somebody caught this trade. I played the .618RET. Am 84pips up, moved SL to open of the day's bar. It probably will move further down. Maybe testing the 150ema.

Happy weekend to ya'll. Nothing beats PA. Thanks J16.
Hiya doing mate?

sorry for the silly qn , but where did you get the 618 retreacement from?

cheers

Ant
  • #60,468
  • Apr 9, 2010 2:31pm Apr 9, 2010 2:31pm
Quoting NosferatuMan
Past through the first trouble area and now stop at BE (87.10).

Was waiting for a retrace to 125.00 on eurjpy but it never happened. Not the end of the world, anyway.

Nos
Same here. So far not retraces to 125.00 .. came all the way upto 125.10 then zoomed back on FXCM trade station. Waiting for the next opportunity..
  • #60,469
  • Apr 9, 2010 3:22pm Apr 9, 2010 3:22pm
Quoting antgal23
Hi Ghous

you just saved my sanity!

im still in beginner mode , had spotted your cherries and saved the pics for the folder but was wondering why nobody had them mentioned here

what is your take on trading pbs not at a swh or swl?

cheers
Anthony
The fool with a foolish grin mentioned them long before they were born.

P.S: Just wanted to share the song. It's the best one i can relate to trading.(A Beatles Fan)

P.Ss: It hurts my fingers to type the whole Swing high and Swing Low so i think SWL and SWH would be perfect.
.
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  • #60,470
  • Apr 9, 2010 3:29pm Apr 9, 2010 3:29pm
It's the weekend guys! Time to fire up forextester!
Many choose unhappiness over uncertainty.
  • #60,471
  • Apr 9, 2010 3:36pm Apr 9, 2010 3:36pm
Quoting Dan Gilbert
It's the weekend guys! Time to fire up forextester!
It's worth it.
.
  • #60,472
  • Apr 9, 2010 3:56pm Apr 9, 2010 3:56pm
Quoting Dan Gilbert
It's the weekend guys! Time to fire up forextester!
what is forextester?
  • #60,473
  • Apr 9, 2010 3:59pm Apr 9, 2010 3:59pm
Quoting antgal23
Hiya doing mate?

sorry for the silly qn , but where did you get the 618 retreacement from?

cheers

Ant

It's the 0.618 Fib Retracement of the PIN bar. "Seeking Light" likes placing his entry order there as the market usually rets to .618 or .50.

See the attached chart. Cheers
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SNR with Price Action...
BitCrossNG Return Today: na
  • #60,474
  • Apr 9, 2010 3:59pm Apr 9, 2010 3:59pm
Quoting ppfx
what is forextester?
http://www.forextester.com/

(no spam)
Many choose unhappiness over uncertainty.
  • #60,475
  • Apr 9, 2010 4:00pm Apr 9, 2010 4:00pm
Quoting ppfx
what is forextester?
Here ya go. http://tinyurl.com/y66yfn3

Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #60,476
  • Apr 9, 2010 4:18pm Apr 9, 2010 4:18pm
Quoting Dan Gilbert
lol, that one looks ok except for how that pair isn't on a VBRN either ....


If anyone wants to join in with me on shot-gun trading their demo accounts, feel free!

these are all demo trades.....
update, moved my stops up to 15-20 pips above/below the most recent bar (practicing that new technique of getting stop to B/E)

the only two I have scaled out of so far are AUDNZD, and GBPUSD (1/3 closed on each of those)
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Many choose unhappiness over uncertainty.
  • #60,477
  • Apr 9, 2010 4:29pm Apr 9, 2010 4:29pm
Quoting LasVahGoose
Here ya go. http://tinyurl.com/y66yfn3

lol

I think I'll use lmgtfy quite often
  • #60,478
  • Apr 9, 2010 4:32pm Apr 9, 2010 4:32pm
now i like it
nice confluanced area...fibs RN, TLs long term trend and a litle space.

let see what happens next week ?

have a good weekend everyone!!!!

jon
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PATIENCE... DISCIPLINE
  • #60,479
  • Apr 9, 2010 4:47pm Apr 9, 2010 4:47pm
I agree with everyones view on the GBP/CHF pin it's @ a good location and I fully expect it to go the the FTA....however, I defintely would have prefered it at the location marked with an arrow...this would then have been good for longer term move back down IMO...where we are now I expect the pin will be good for FTA or second area marked but then a jump back up to test the falling TL
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  • #60,480
  • Apr 9, 2010 5:05pm Apr 9, 2010 5:05pm
Quoting lovejoy80
I agree with everyones view on the GBP/CHF pin it's @ a good location and I fully expect it to go the the FTA....however, I defintely would have prefered it at the location marked with an arrow...this would then have been good for longer term move back down IMO...where we are now I expect the pin will be good for FTA or second area marked but then a jump back up to test the falling TL
I totally agree with you.
Your FTA is the blue area or the 1.6317 level? In my chart that is the FTA and the blue the second.

I usually don't play this pair but there is a nice looking pin on weekly audnzd. Lot's of traffic in the way, though.
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