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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

  • #63,941
  • May 17, 2010 2:32am May 17, 2010 2:32am
what a bigass ....... to run a newbie learner over in a ......



Quoting joelcf
An 'exhaustion' bar is typically a huge range bar (it needs to be a significantly larger range than recent bars) with a weak close in the reverse direction, usually following a gap in the trend direction. Essentially, its a big pinbar after a gap.

(for anyone wondering wtf we are talking about, Pring covers them pretty thoroughly in MPoPP. edit: p278! http://books.google.com.au/books?id=...ed=0CDMQ6AEwBg#...
  • #63,942
  • May 17, 2010 5:04am May 17, 2010 5:04am
Nice one, short on GOLD with a bar that have a strong potential.

BEOB on the 5H TF.

Went right to FTA.

Yaniv
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  • #63,943
  • May 17, 2010 6:06am May 17, 2010 6:06am
Quoting (Yaniv)
Nice one, short on GOLD with a bar that have a strong potential.

BEOB on the 5H TF.

Went right to FTA.
Is that a short on the break of the BEOB?
When you have to shoot, shoot. Dont talk.
  • #63,944
  • May 17, 2010 6:26am May 17, 2010 6:26am
Quoting joelcf
Is that a short on the break of the BEOB?
Oh sorry, Yes it was short
  • #63,945
  • May 17, 2010 6:30am May 17, 2010 6:30am
I dont play IB's that often so this might be considered a poor setup by people that trade these more often...but 4HR IB @ round number and daily PPZ...buy order was placed few pips above the round number and just been triggered.
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  • #63,946
  • Edited 7:17am May 17, 2010 6:55am | Edited 7:17am
Quoting jarroo
Yes, above the 84.00 or less, meaning if it didn't behave properly I may just cut it even quicker. But it did break hard and respected or retested the break nicely. Again if I would have decided to take it despite its size.



Jarroo

I have been thinking about your comment about PA behaving properly. could you explain a little more what "Behaving properly" means in terms of a PB or other PA.

All kinds of things have been going through my head about this over the weekend and I am wondering if you are breaking down the bar into a smaller TF and also looking at how PA acted in that TF?

Maybe my mind is just over active.


GBP/JPY BEOB H4.
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  • #63,947
  • May 17, 2010 7:14am May 17, 2010 7:14am
Quoting jarroo
Yes, above the 84.00 or less, meaning if it didn't behave properly I may just cut it even quicker. But it did break hard and respected or retested the break nicely. Again if I would have decided to take it despite its size.
Quoting Pinbar
Jarroo
I have been thinking about your comment about PA behaving properly. could you explain a little more what "Behaving properly" means in terms of a PB or other PA.....
Pinbar,
if i may....
i think with 'behave properly' he means price retesting the PA setup break area (in this case the PB's break area) & (right afterwards) moving in the direction of the trade (in this case, bearish PB, so trade direction is down).
'not behaving properly' in the above trade's context may mean price moving above the PB's break price (83.80ish to 84.10 or higher), stalling there or even moving/zigzagging higher.

Hope this helps
  • #63,948
  • May 17, 2010 7:18am May 17, 2010 7:18am
Quoting supremeChaos
Pinbar,
if i may....
i think with 'behave properly' he means price retesting the PA setup break area (in this case the PB's break area) & (right afterwards) moving in the direction of the trade (in this case, bearish PB, so trade direction is down).
'not behaving properly' in the above trade's context may mean price moving above the PB's break price (83.80ish to 84.10 or higher), stalling there or even moving/zigzagging higher.

Hope this helps

Thanks SC.

Yes, that was my first impression then my imagination took over.
  • #63,949
  • May 17, 2010 8:19am May 17, 2010 8:19am
Hey Pb, you can refer to below posts for detail explanations by Jarroo.


Quoting jarroo
The 2 Day PB (Nov. 17-18) looks strong in structure (Close in lower then the Open). . big bars off a BRN, 1.7000. A bit more traffic than we would like but tradable in my book...
Quoting jarroo
Jan. PB again same nice features as the other one but a bit of traffic...
  • #63,950
  • Edited 8:58am May 17, 2010 8:26am | Edited 8:58am
Apart from a not so long nose I found this PB on the daily AUDCAD working out nicely:

Pro
* Retrace to PPZ after range breakout
* The former range was delimited by the EMAs on daily chart. So it is an EMA break as well
* Price got back under the weekly TL after what seems like a false breakout above
* Round number 0.9200
* Price broke 61.8%-Fib of last upmove on weekly
* With daily trend

Contra
* Price above EMAs and 38.2%-Fib on weekly
* Not much space to the left and no swing-low exactly (I guess that is not what we're looking for at a breakout trade anyway).

I took this trade but again was stopped out at BE.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #63,951
  • May 17, 2010 8:29am May 17, 2010 8:29am
@Pinbar: It's great to follow your posts in this thread. I learn a lot from your progress and questions. Keep up the good work!
Thanks J16, Sam Seiden, Udine and Jacko
  • #63,952
  • May 17, 2010 8:41am May 17, 2010 8:41am
Quoting HanSolo
@Pinbar: It's great to follow your posts in this thread. I learn a lot from your progress and questions. Keep up the good work!

Got to cool this wild imagination though.

Thanks HS and good trading to you also.
  • #63,953
  • May 17, 2010 8:44am May 17, 2010 8:44am
Quoting esbatu
Hey Pb, you can refer to below posts for detail explanations by Jarroo.

Yes, I read them of course.
I just did not associate those comments with behaving properly.

I am learning so much, I am trying to get my head together and not get too stuck on any particular aspect.

That seems to be the hard bit.
  • #63,954
  • May 17, 2010 8:49am May 17, 2010 8:49am
Hey guys found this simulator (in RR's profile) on the weekend. I don't know if it's mentioned before but here it is.

http://www.forexfactory.com/attachme...02008%208:18pm

Now you can practice hundreds of daily/weekly bars in just an hour. (and free lol),.... (or you can send me donations if you like too)*




*i am not kidding**




**yeah i am
  • #63,955
  • May 17, 2010 9:00am May 17, 2010 9:00am
Imagine if EURUSD actually gets back to 1.25 and makes a pin on 4hr...
Many choose unhappiness over uncertainty.
  • #63,956
  • May 17, 2010 9:08am May 17, 2010 9:08am
Quoting Dan Gilbert
Imagine if EURUSD actually gets back to 1.25 and makes a pin on 4hr...
Cable is pretty much there.
.
  • #63,957
  • May 17, 2010 9:20am May 17, 2010 9:20am
Quoting nasir.khan
Cable is pretty much there.
.
I saw that... PA required now
Many choose unhappiness over uncertainty.
  • #63,958
  • May 17, 2010 9:29am May 17, 2010 9:29am
Quoting Dan Gilbert
I saw that... PA required now
Daily shows a PB, but H4 is telling another story if a bearish PA forms on 1.45.
  • #63,959
  • May 17, 2010 9:52am May 17, 2010 9:52am
USD/CAD =Buying more on retest of 1.0324..... confirmed with a nice 1 hr hammer. Im planning to hold on this for awhile with daily targets.
Dr. C
  • #63,960
  • May 17, 2010 9:58am May 17, 2010 9:58am
Quoting fxeturn
Daily shows a PB, but H4 is telling another story if a bearish PA forms on 1.45.
So far, daily candle stick is not closed. they story is not completed.
Dancing with Candlesticks
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