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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

  • #63,621
  • May 13, 2010 4:48am May 13, 2010 4:48am
GBP/JPY stopped out at BE+.

certainly is nice to get stopped out at BE+ after taking more than 90% off the table. As jarroo mentioned, it wasn't a great area, apart from the PPZ the trigger BEOB came off.
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  • #63,622
  • May 13, 2010 4:48am May 13, 2010 4:48am
I spotted your FTA, but, didn't notice the second one when doing my own, I am so careless, this could explain the reason why I can not manage my trade wisely. reading your charts always discover insight, bro !

Quoting jarroo
It sure did, test the 138.00.

A lot a traffic in this one. Like you said, PA sideways or in a consolidation area. No at a swing high where we would like a BEOB to be.

Gotta go. Manage it wisely.
  • #63,623
  • May 13, 2010 4:54am May 13, 2010 4:54am
wow, 90% off the table already ? I've taken nothing so far from this trade, still in, see if could break the second trouble area

Quoting Pinbar
GBP/JPY stopped out at BE+.

certainly is nice to get stopped out at BE+ after taking more than 90% off the table. As jarroo mentioned, it wasn't a great area, apart from the PPZ the trigger BEOB came off.
  • #63,624
  • May 13, 2010 4:59am May 13, 2010 4:59am
GBPCHF looks moving on now, I may revisit it upon retest after break. the quality of TL and PPZ conflu looks promising
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  • #63,625
  • May 13, 2010 5:01am May 13, 2010 5:01am
Hi guys

I see a lot of people taking trades on 4h and 1h etc - anyone seeing any good setups on the dailies? Have not taken a trade for 2 weeks now although missed a good setup last week.

berti
PA is where its at!!
  • #63,626
  • May 13, 2010 5:04am May 13, 2010 5:04am
I am working on this one daily

Edit: oops, my bad, it's weekly
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  • #63,627
  • May 13, 2010 5:21am May 13, 2010 5:21am
Quoting jeurre
I am working on this one daily

Edit: oops, my bad, it's weekly
But the BEOB is not valid yet. Or do you have any other reason to take the trade???
  • #63,628
  • May 13, 2010 5:26am May 13, 2010 5:26am
beob on e/u. next stopp will be 1.25?
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meine augen sind die sterne
  • #63,629
  • May 13, 2010 5:32am May 13, 2010 5:32am
I'm now watching the CADJPY pair.

We have a range of ~75 bars which are marked with Gray (1H TF), the bar which is market with Red arrow is what i'm looking at.

I want this bar to start a sharp down move so we will close below that range and more importantly below the very BRN of 90.0.

So lets say it will take 10 hourly bars to cover all that range, that means that if i will aggregate 10 hourly bars i will get a 10H BEOB that will cover 7 prior bars (75 prior bars divided by 10).

PA is cool stuff

Yaniv
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  • #63,630
  • May 13, 2010 5:32am May 13, 2010 5:32am
what do you mean by BEOB not valid? it was last week's price bar,closed already.

reasons are 50 fib + ppz + BRN 87

I didn't check divergence, maybe there is one,lol



Quoting nasir.khan
But the BEOB is not valid yet. Or do you have any other reason to take the trade???
  • #63,631
  • May 13, 2010 5:35am May 13, 2010 5:35am
Quoting Jduester
2IB at 1.2500
Lots of space.
Quoting bertie123
Hi guys

I see a lot of people taking trades on 4h and 1h etc - anyone seeing any good setups on the dailies? Have not taken a trade for 2 weeks now although missed a good setup last week.

berti
Hit First Trouble Zone. Moved to b/e. Stopped at b/e.
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  • #63,632
  • May 13, 2010 5:35am May 13, 2010 5:35am
Quoting jeurre
what do you mean by BEOB not valid? it was last week's price bar,closed already.

reasons are 50 fib + ppz + BRN 87

I didn't check divergence, maybe there is one,lol
You cannot take the trade unless the low ( in this case 74.51) is not broken. So the any PA bar is not valid until the high/low is not broken.
.
  • #63,633
  • May 13, 2010 5:42am May 13, 2010 5:42am
anyone would consider this continuation setup? the test of daily bar high of earlier looks valid, visually bullish

bad point is a lot of trouble ahead. it is a no trade setup. but, just be interested in observing what might happen today
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  • #63,634
  • May 13, 2010 5:44am May 13, 2010 5:44am
I see, you are break style. thanks for the good point

Quoting nasir.khan
You cannot take the trade unless the low ( in this case 74.51) is not broken. So the any PA bar is not valid until the high/low is not broken.
.
  • #63,635
  • May 13, 2010 5:47am May 13, 2010 5:47am
ahhhh, me again, will you enter the break of the valley for now ? I learnt this from you, nasir, what's up?

Quoting nasir.khan
You cannot take the trade unless the low ( in this case 74.51) is not broken. So the any PA bar is not valid until the high/low is not broken.
.
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  • #63,636
  • May 13, 2010 5:52am May 13, 2010 5:52am
Quoting jeurre
wow, 90% off the table already ? I've taken nothing so far from this trade, still in, see if could break the second trouble area
Well, I think this one really needs to be traded on H4, it is not a great area, it is at the bottom of a downtrend and PA on higher TF is going sideways.

Also the 50 fibo is an area to watch out for as it could just as easily break through the 138 as go down right now.

You seemed to have entered this trade rather late, I and I think Jarroo entered right at the break of the BEOB.

I used to do that a lot and it caused me endless problems, of not being able to get the SL to BE near a decent PPZ area.
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  • #63,637
  • May 13, 2010 6:16am May 13, 2010 6:16am
Quoting jeurre
ahhhh, me again, will you enter the break of the valley for now ? I learnt this from you, nasir, what's up?
I am already in this trade but that's another story but yea i will enter another short @ 74.45.

I don't trade peaks and valleys inside the ranges.

After making a low at point A and high at point B, if price fells back in those two points i call it a ranging market. (Maybe too much simple approach but i like it that way)

This is a simple PA bar trade and nothing special ( but it could qualify as a PV trade too if you take a short at 74.45) and everyone here take their trades at break of the PA bar that's a Standard operating procedure. If the bar is not broken then no trade.
.
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  • #63,638
  • May 13, 2010 6:19am May 13, 2010 6:19am
Quoting jeurre
anyone would consider this continuation setup? the test of daily bar high of earlier looks valid, visually bullish

bad point is a lot of trouble ahead. it is a no trade setup. but, just be interested in observing what might happen today
Got to be quick here. On laptop battery, but that trouble area is exactly why you wouldn't enter a trade long at that time. ...In fact you can get some great shorts off of ones like that when they line up with a 61.8% fib too.
Bundy's status today: "Waiting..."
  • #63,639
  • May 13, 2010 6:20am May 13, 2010 6:20am
Quoting Dale
You guys are the best; I am enjoying the current volitility


Dale
Awesome eh? Luv it.
Bundy's status today: "Waiting..."
  • #63,640
  • May 13, 2010 6:21am May 13, 2010 6:21am
I see, PV trades are trend trades, not within range. nice to know it. thanks, nasir

Quoting nasir.khan
I am already in this trade but that's another story.

I don't trade peaks and valleys inside the ranges.

After making a low at point A and high at point B, if price fells back in those two points i call it a ranging market. (Maybe too much simple approach but i like it that way)

This is a simple PA bar trade and nothing special ( but it could qualify as a PV trade too if you take a short at 74.45) and everyone here take their trades at break of the PA bar that's a Standard operating procedure. If the bar is not broken then no trade.
.
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