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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

  • #68,961
  • Jul 17, 2010 3:12am Jul 17, 2010 3:12am
Phew, it worked out almost as we expected.

Price broke out of that area and tested it again which we could see on the daily. But, what we couldn't see was how it tested on H4 and what occured there.

Now we can see that, price broke out, tested the area as support, broke through it, retested the area as resistance and gave us a DBLHC before breaking out and going on its way.

What fun this is. Actually, it is not supposed to be fun but mental jogging over the weekend to keep me on track. Don't want to make 1 step forward then 3 steps back.
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  • #68,962
  • Jul 17, 2010 3:36am Jul 17, 2010 3:36am
Hi,

Just looking at my charts and found this pin on the weekly.
Al little bit longer was better, but however it take my attention when market will open.

Its off the 50 fib (little bit lower was better)
Its off a ppz in my book
its off the trendline
Its with the overal trend on long term
Look at the RSI

FTA is quite close, but can be a nice ride for lets say 150 pips.


I am still learning, is this a little bit ok guys?

Thanks.
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  • #68,963
  • Jul 17, 2010 3:37am Jul 17, 2010 3:37am
In this chart you can see the 50 fib
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  • #68,964
  • Jul 17, 2010 4:26am Jul 17, 2010 4:26am
Pinbar
I don't post due to a lack of time but follow this thread religiously and think you are making a supreme effort to learn this stuff but I think you need to slow down a bit.In the last few days you've gone from daily and weekly charts to 4hr and 1hr then back again,you have changed the colours of your charts as often as you change time frames! Just pace yourself and stick to those daily and weekly charts until you have nailed it,don't take offense it's just an observation.
  • #68,965
  • Jul 17, 2010 4:26am Jul 17, 2010 4:26am
This IPB is whispering to me.
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Trading: the skill of avoiding trades
  • #68,966
  • Jul 17, 2010 4:28am Jul 17, 2010 4:28am
Quoting Thierry
In this chart you can see the 50 fib

Nice looking PB you found there.

Might want to watch out for the confluence though, IMHO.
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  • #68,967
  • Jul 17, 2010 4:29am Jul 17, 2010 4:29am
Quoting edge540
Pinbar
I don't post due to a lack of time but follow this thread religiously and think you are making a supreme effort to learn this stuff but I think you need to slow down a bit.In the last few days you've gone from daily and weekly charts to 4hr and 1hr then back again,you have changed the colours of your charts as often as you change time frames! Just pace yourself and stick to those daily and weekly charts until you have nailed it,don't take offense it's just an observation.

Yes, good idea EDGE..thanks for the concern.

The colors are changed just because I am on my laptop.

Yeah, I am about to burst in flames.

I hear you though, just trying to get it stuck in my head. Maybe, I am doing too much.
  • #68,968
  • Edited 6:32am Jul 17, 2010 4:37am | Edited 6:32am
I did't see that set up discussed here.
50% closed @1:1, moved to BE remaining position (already 20 pips to TP).
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Trading: the skill of avoiding trades
  • #68,969
  • Jul 17, 2010 6:20am Jul 17, 2010 6:20am
Hello Traders!

I know this is a little off topic, but maybe someone knows how to do it on MT4.
I have about 20 charts I follow. 4hr/Daily/Weekly.

Each time I have to manually change periodicity of a chart and so I do for each chart one after another...

Is there a way to "SELECT ALL CHARTS" so I can single-click to change the periodicity on all of my open charts???
  • #68,970
  • Jul 17, 2010 6:20am Jul 17, 2010 6:20am
Quoting eswap0
I did't see that set up discussed here.
50% closed @BE, remaining position is already 20 pips to TP.
Hey Eswap, I think that was a spectacular setup you caught!
  • #68,971
  • Jul 17, 2010 6:25am Jul 17, 2010 6:25am
Hello Adilius07,
i think that is not possible.
what u can do, though, is save profiles the way u like them.
if u want 20 pairs in H4 TF... have all 20 pairs in H4, then save a "H4 profile". to do that, once u have the 20 charts all on H4, go to
File > Profiles > save as ... then name it appropriately (example, "H4 charts)"

repeat this process to make a Daily & weekly profile.

to access your profiles
File > Profiles.... u will see a list of profiles

Quoting Adilius07
...
Is there a way to "SELECT ALL CHARTS" so I can single-click to change the periodicity on all of my open charts???
  • #68,972
  • Jul 17, 2010 6:28am Jul 17, 2010 6:28am
Quoting supremeChaos
Hello Adilius07,
i think that is not possible.
what u can do, though, is save profiles the way u like them.
if u want 20 pairs in H4 TF... have all 20 pairs in H4, then save a "H4 profile". to do that, once u have the 20 charts all on H4, go to
File > Profiles > save as ... then name it appropriately (example, "H4 charts)"

repeat this process to make a Daily & weekly profile.
Supreme, oh yes that would be the way!
Thanks, I didn't think about that.
  • #68,973
  • Jul 17, 2010 6:33am Jul 17, 2010 6:33am
Quoting supremeChaos
Hello Adilius07,
i think that is not possible.
what u can do, though, is save profiles the way u like them.
if u want 20 pairs in H4 TF... have all 20 pairs in H4, then save a "H4 profile". to do that, once u have the 20 charts all on H4, go to
File > Profiles > save as ... then name it appropriately (example, "H4 charts)"

repeat this process to make a Daily & weekly profile.

to access your profiles
File > Profiles.... u will see a list of profiles
Just did it like you said. Easy and makes it much more effective to navigate my charts now! Cool thanks!
  • #68,974
  • Jul 17, 2010 7:46am Jul 17, 2010 7:46am
Quoting eswap0
This IPB is whispering to me.
I like this one alot also....but here are the cons I'm trying to work through....the 150 ema and the previous bar 9160-50 high and the 365ema below...which will require trade management imo....also I dislike the Sunday open trade and since it is best to place an execution on IPB according to Ghous Man immediately after the close that will count me out of this signal

The weekly shows some great R above to which I am very fond of.

"whispering caching" ???
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  • #68,975
  • Jul 17, 2010 8:41am Jul 17, 2010 8:41am
Quoting Thierry
Hi,

Just looking at my charts and found this pin on the weekly.
Al little bit longer was better, but however it take my attention when market will open.

Its off the 50 fib (little bit lower was better)
Its off a ppz in my book
its off the trendline
Its with the overal trend on long term
Look at the RSI

FTA is quite close, but can be a nice ride for lets say 150 pips.


I am still learning, is this a little bit ok guys?

Thanks.
I am also a learner.. so wait for seniors comments before taking my word.. but however, what I see is - PB's close is not below the open. I guess this is one of the rule to call this technically a PB.
  • #68,976
  • Jul 17, 2010 9:26am Jul 17, 2010 9:26am
Cons: Traffic
bar size is not great

Pros: With the trend
Triple top
Monthly PPZ

Comments ?
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  • #68,977
  • Jul 17, 2010 9:31am Jul 17, 2010 9:31am
Cons: very small PB
Weekly chart looks bullish


Pros: Good location.. Absolute swing high
Rejected at 1.3
61.8% retracement for major swing
no traffic
FTA is clear - 50% fib retracement


Would have been great.. if the wic is longer ..

Comments ?
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  • #68,978
  • Jul 17, 2010 10:01am Jul 17, 2010 10:01am
Quoting Thierry
Hi,

Just looking at my charts and found this pin on the weekly.
Al little bit longer was better, but however it take my attention when market will open.

Its off the 50 fib (little bit lower was better)
Its off a ppz in my book
its off the trendline
Its with the overal trend on long term
Look at the RSI

FTA is quite close, but can be a nice ride for lets say 150 pips.


I am still learning, is this a little bit ok guys?

Thanks.
Hey Thierry,

Agree with the your points. However FTA I see it is at VBRN 0.7 and therefore if you play the break of the PB, there is only about 50pips distance to FTA.
Is that large enough in comparison with the risk you put on this trade?


CY
  • #68,979
  • Jul 17, 2010 10:08am Jul 17, 2010 10:08am
Quoting cprao
Cons: very small PB
Weekly chart looks bullish


Pros: Good location.. Absolute swing high
Rejected at 1.3
61.8% retracement for major swing
no traffic
FTA is clear - 50% fib retracement


Would have been great.. if the wic is longer ..

Comments ?


I plan to short this pair come next week.
  • #68,980
  • Jul 17, 2010 10:08am Jul 17, 2010 10:08am
Quoting cprao
Cons: very small PB
Weekly chart looks bullish


Pros: Good location.. Absolute swing high
Rejected at 1.3
61.8% retracement for major swing
no traffic
FTA is clear - 50% fib retracement


Would have been great.. if the wic is longer ..

Comments ?
Hey Cprao,

Nothing I can say that you have not already said .
Except on my feed, the close is not lower than the open but it's wick seems a tad longer than yours.
Hmm........take or no take? Decision, decision, decision.........
Perhaps the location 'compensates' for the lack in size in this case making this a go-trade?

CY
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