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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

  • #66,001
  • Jun 11, 2010 5:03am Jun 11, 2010 5:03am
Quoting Pinbar
Many thanks...

Yes, I am looking at the 1.4680 area will hold and save my SL.
Now, it doesn't matter what it does.

How's that 1.4680 area holding up Pb? Looks like your reading Price like a book.
Indicators show the past. Price Action "Indicates" the future.
  • #66,002
  • Jun 11, 2010 5:12am Jun 11, 2010 5:12am
Quoting jarroo
How's that 1.4680 area holding up Pb? Looks like your reading Price like a book.

Not at all Jarroo.
I was stopped out for Be+4 pips at 1.4686
Forgot to figure in the spread.

Just as well I took 33 pips off at FTA.
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  • #66,003
  • Jun 11, 2010 5:15am Jun 11, 2010 5:15am
BEOB on the 4h GBPUSD. Trade Plan:

short @ break of BEOB (1.4648)
S/L @ 50% ret of BEOB (1.4705)
TP#1 2/3 of position @ 1.4600 (beige area) setting rest to BE
TP#2 1/3 letting run

Comments appreciated
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"Put your shoulder to the wheel!"
  • #66,004
  • Jun 11, 2010 5:17am Jun 11, 2010 5:17am
Quoting Pinbar
Not at all Jarroo.
I was stopped out for Be+4 pips at 1.4686
Forgot to figure in the spread.

Just as well I took 33 pips off at FTA.

Pb that's fanastic . .you don't know how fanastic that is. Great job.

Now I will reference this trade if I see a little PB or little Outside bar from any of your charts from now on. lol

Great job again.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #66,005
  • Jun 11, 2010 5:19am Jun 11, 2010 5:19am
Quoting proletary
BEOB on the 4h GBPUSD. Trade Plan:

short @ break of BEOB (1.4648)
S/L @ 50% ret of BEOB (1.4705)
TP#1 2/3 of position @ 1.4600 (beige area) setting rest to BE
TP#2 1/3 letting run

Comments appreciated

I was thinking the same thing earlier, but now I see the 150 EMA and the 50 fibo just above the monthly PPZ.
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  • #66,006
  • Edited 5:32am Jun 11, 2010 5:21am | Edited 5:32am
Quoting jarroo
Pb that's fanastic . .you don't know how fanastic that is. Great job.

Now I will reference this trade if I see a little PB or little Outside bar from any of your charts from now on. lol

Great job again.


Jim

Haaaa. Thanks Jarroooooooo

Still, it was not a loser and anything that is not a loser must be a winner.

I am back to the Weekly & Daily from Monday. Honest.


Yes, I shall write this up in my journal.


Here it is.
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  • #66,007
  • Jun 11, 2010 5:22am Jun 11, 2010 5:22am
Quoting proletary
BEOB on the 4h GBPUSD. Trade Plan:

short @ break of BEOB (1.4648)
S/L @ 50% ret of BEOB (1.4705)
TP#1 2/3 of position @ 1.4600 (beige area) setting rest to BE
TP#2 1/3 letting run

Comments appreciated

Looks good prole.

Be aware of the PPZ at the 1.4631
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Indicators show the past. Price Action "Indicates" the future.
  • #66,008
  • Jun 11, 2010 5:29am Jun 11, 2010 5:29am
Quoting Pinbar
Haaaa. Thanks Jarroooooooo

Still, it was not a loser and anything that is not a loser must be a winner.

I am back to the Weekly & Daily from Monday. Honest.


Yes, I shall write this up in my journal.

That's the spirit. Just apply this Hourly trade to the Daily and Weekly.

You read the trade great.
Indicators show the past. Price Action "Indicates" the future.
  • #66,009
  • Jun 11, 2010 5:53am Jun 11, 2010 5:53am
Nice work to all ....keep up the great posts...your work has been fantastic ...catching up on posts now ...awesome stuff
  • #66,010
  • Jun 11, 2010 6:05am Jun 11, 2010 6:05am
Thanks Atc.

Later guys ( I'm all ready late . . )

trades locked and loaded.

Nice end to a great week.

Later.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #66,011
  • Jun 11, 2010 6:08am Jun 11, 2010 6:08am
Quoting Pinbar
I was thinking the same thing earlier, but now I see the 150 EMA and the 50 fibo just above the monthly PPZ.
Now you got me thinking and planted the seed of doubt. I got in the trade before your post, demoing. Up to now I didn't think of the wave you have drawn your fib ret on as still valid. For me the last serious down move would be the one that started on 2nd july. The 2nd july wave is where i place ma fibs so no conflence for me there.
BUT! I placed the 150 EMA on the chart, and it turned outthat it confluences with the minor PPZ I have on my chart 1.4625. Moved my TP#1 there.
Well it got hit as I write. Moving rest to BE, just in case. This will be an ultraconservative trade.

Cheers
"Put your shoulder to the wheel!"
  • #66,012
  • Jun 11, 2010 6:20am Jun 11, 2010 6:20am
Quoting proletary
Now you got me thinking and planted the seed of doubt. I got in the trade before your post, demoing. Up to now I didn't think of the wave you have drawn your fib ret on as still valid. For me the last serious down move would be the one that started on 2nd july. The 2nd july wave is where i place ma fibs so no conflence for me there.
BUT! I placed the 150 EMA on the chart, and it turned outthat it confluences with the minor PPZ I have on my chart 1.4625. Moved my TP#1 there.
Well it got hit as...

Good job...

And thanks Jarroo

Hoping you have a great weekend and drink lots of beer in good company.
  • #66,013
  • Jun 11, 2010 6:23am Jun 11, 2010 6:23am
Quoting jarroo
Looks good prole.

Be aware of the PPZ at the 1.4631
Thank's jarroo. Missed out your post, scratching my head over Pb's suggestion of 150 EMA conf.
Well the rest 1/3 hit BE as I moved it quicker than planned, leaving me with 19 pips pocketmoney. But as stated this was ultraconservative behaviour on my side. This movement just as well may play out the way it was planned.

Thank's again PB for hinting to the 150 EMA. Price really reacted there.

Cheers
"Put your shoulder to the wheel!"
  • #66,014
  • Jun 11, 2010 6:46am Jun 11, 2010 6:46am
As well as it reacting to Jims PPZ
on the 4H there was the 150 EMA ....I don't know how much weight this had?

And also I drew a a fib although not at the extreme low ....but hit the 50% FIB Long...where it seemed to bounce

These 3 factors seemed to be confluence for the bounce to go higher..at least for a small period of time

Let's watch ...However the pressure is still down IMO
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  • #66,015
  • Jun 11, 2010 7:17am Jun 11, 2010 7:17am
Quoting jarroo
Very nice ghous.

I want to take that 2nd chart, enlarge it, frame it and put on my wall.

It's a work of art.
You can go ahead and do that provided you mention who the artist is in a frame much bigger than the ones you use to frame the chart.

...
I believe . . .
  • #66,016
  • Jun 11, 2010 7:26am Jun 11, 2010 7:26am
Hi All,

I was looking at the GbpUsd trade as well on the H4 chart. Entered on the close of the 8am bar with stop above high. Moved stop to entry at +30 and took half off at 1.4620 before it got too close to 38.2 Fib. Would like to see 1.4550 next. Nice to see I'm on the same page as some of you guys.

Would you call the support and resistance around 1.46 a PPZ? Not clear on some of your terminology yet.

Thanks
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  • #66,017
  • Jun 11, 2010 7:39am Jun 11, 2010 7:39am
Quoting Atc
As well as it reacting to Jims PPZ
on the 4H there was the 150 EMA ....I don't know how much weight this had?

And also I drew a a fib although not at the extreme low ....but hit the 50% FIB Long...where it seemed to bounce

These 3 factors seemed to be confluence for the bounce to go higher..at least for a small period of time

Let's watch ...However the pressure is still down IMO
Hey Atc,

IMHO I find the setup pretty good.

An argument can still be made up though. price in the last week or so has lost quite a bit of it's bearish steam but given that the BEOB was a good sized one and off a good res zone, I feel it was worth a shot at least to the first trouble area, which it is just about kissing as I type.

g.
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I believe . . .
  • #66,018
  • Jun 11, 2010 7:45am Jun 11, 2010 7:45am
Quoting ghous
Hey Atc,

IMHO I find the setup pretty good.

An argument can still be made up though. price in the last week or so has lost quite a bit of it's bearish steam but given that the BEOB was a good sized one and off a good res zone, I feel it was worth a shot at least to the first trouble area, which it is just about kissing as I type.

g.

Ghous

What EMA are you using on that chart
  • #66,019
  • Jun 11, 2010 7:52am Jun 11, 2010 7:52am
Quoting Pinbar
Ghous

What EMA are you using on that chart
Ignore em'

I am using them for a system of my own,

FYI they are the 50 ema and the 21 ema.


(I am genuinely interested in helping new folks get the basic hang of the J16 core stuff and not get involved in "a system, it's dynamics, entry and exit methods" before getting the basics straight.)

g.
I believe . . .
  • #66,020
  • Jun 11, 2010 8:00am Jun 11, 2010 8:00am
Ok thanks Ghous your chart clears up what a PPZ is. Just taken another 50% off of remaining lots before 50% Fib and 1.4550. Leaving stop at entry for now and will let remainder of position run for the day
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