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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

  • #69,681
  • Jul 26, 2010 6:48am Jul 26, 2010 6:48am
Yes, supremeChaos thanks a lot!!!!
  • #69,682
  • Jul 26, 2010 6:53am Jul 26, 2010 6:53am
Quoting FibbinArchie
....
If by PPZ you mean pivots...
I take it that a trigger would have been a break of the low of the third bar?
...
Jon,
i meant PPZ as in Price Pivot Zone(price flip areas)
u are free to use pivots if u are comfortable using them.

the first & third bar's lows seem similar, price-wise.
the rule is a trade is triggered a few pips below the low (whichever is the lowest, in this case) of the Pinbar.
  • #69,683
  • Jul 26, 2010 6:54am Jul 26, 2010 6:54am
Hmm GBP is still pushing up, last week I was looking at a potential top to come in at around 5530, it will be interesting to see how it pans out.
  • #69,684
  • Jul 26, 2010 6:56am Jul 26, 2010 6:56am
Quoting supremeChaos
Jon,
i meant PPZ as in Price Pivot Zone(price flip areas)
u are free to use pivots if u are comfortable using them.

the first & third bar's lows seem similar, price-wise.
the rule is a trade is triggered a few pips below the low (whichever is the lowest, in this case) of the Pinbar.
Thanks for the pointers, am still finding my way around FF...
  • #69,685
  • Jul 26, 2010 6:58am Jul 26, 2010 6:58am
Quoting fx13new
what do you think abouth this 4 hour pin on gbp/chf?
CHF has been falling this morning and as a resulting there are a few pin-like candles on the charts.
The wick is not too bad.
It is coming off the 365 ema for the 4H.
Depending where you draw the fibs from it is at the 138%.
most importantly price has rejected the BRN 1.63.
Also very importantly on the 4H the overall trend is down

The trend is down on the daily
A fib from the swing high of June shows price rejecting the 38.2% fib.

The body of the bar is butting against a PPZ.
There is a pin bar (small) on the daily at the moment.

Where is price likely to go?
1.62 seems a likely target which is enough pippage to consider.

Not grade A but not bad and worth considering IMO
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  • #69,686
  • Jul 26, 2010 7:04am Jul 26, 2010 7:04am
Quoting FibbinArchie
Thanks for the pointers, am still finding my way around FF...
u are already on 'the way'.... here.
avoid veering away, it's detrimental; just keep treading on this path. all of us here are just steps away from each other
  • #69,687
  • Jul 26, 2010 7:12am Jul 26, 2010 7:12am
Quoting supremeChaos
u are already on 'the way'.... here.
avoid veering away, it's detrimental; just keep treading on this path. all of us here are just steps away from each other
Will do, I just wish I'd found this thread 6 months ago...
  • #69,688
  • Jul 26, 2010 7:16am Jul 26, 2010 7:16am
Quoting six gun
CHF has been falling this morning and as a resulting there are a few pin-like candles on the charts.
The wick is not too bad.
It is coming off the 365 ema for the 4H.
Depending where you draw the fibs from it is at the 138%.
most importantly price has rejected the BRN 1.63.
Also very importantly on the 4H the overall trend is down
Thank you!
  • #69,689
  • Edited 8:20am Jul 26, 2010 8:03am | Edited 8:20am
just browsing around the members list 'down there',
i see CFII, member since May2006.
Caesar, Dec.2005.
& fire580 Jan.2006.
WOW!

u havent posted in a long while Sirs (Caesar made a few this year; unless some/all of u had many posts 'stripped away' too)
  • #69,690
  • Jul 26, 2010 8:31am Jul 26, 2010 8:31am
Quoting supremeChaos
u are already on 'the way'.... here.
avoid veering away, it's detrimental; just keep treading on this path. all of us here are just steps away from each other
Absolute and total truth. I can't emphasize just how much all the new people should take this to heart.

I've veered off course so many times in the year and a half since I found this thread, and have been burned just as many times.

No matter what else I find, I always come back to this thread.
  • #69,691
  • Jul 26, 2010 9:09am Jul 26, 2010 9:09am
Quoting Jey
If new traders are expected not to ask stuffs they dont know and required to filter thru the thread first, that is well and good. No problems with that. But at the same time what about idle chatter that serves no purpose as found much in this thread which ALSO lengthens the thread unnecessarily? Should that be encouraged or that's a NO-NO as well?
This thread is certainly about asking questions. Everyone that comes here has for the most part, just much bigger each time someone else finds it Yes often times someone will answer with a link to another past post b/c that just makes sense Unfortunately on one thread of this size there is only so much control you can have.

Please do ask questions all, and if it is something repeated someone will direct you to the appropriate place b/c we have the best people around here.


Mike
  • #69,692
  • Jul 26, 2010 9:12am Jul 26, 2010 9:12am
how can i miss that beautiful pinbar on uj?
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meine augen sind die sterne
  • #69,693
  • Jul 26, 2010 9:41am Jul 26, 2010 9:41am
Quoting aserbfx
how can i miss that beautiful pinbar on uj?
Just goes to show how different time zones make a difference.

This is my USD/JPY 4H chart.
There's a pin bar at a swing low at 86.50 but from last week.

Nothing in sight for this week so far.
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  • #69,694
  • Jul 26, 2010 9:44am Jul 26, 2010 9:44am
Quoting fx13new
Thank you!
Just had a look at the GBP/CHF 4H chart.
The first trouble level looks like it is 1.6210 and the wick got that far.

So if you took that trade be careful now and move your stop to break even at least.
  • #69,695
  • Jul 26, 2010 9:45am Jul 26, 2010 9:45am
Quoting six gun
Just goes to show how different time zones make a difference.

This is my USD/JPY 4H chart.
There's a pin bar at a swing low at 86.50 but from last week.

Nothing in sight for this week so far.
a good idea is it to open demo-account with several brokers and therefore get different closing times...
meine augen sind die sterne
  • #69,696
  • Jul 26, 2010 9:49am Jul 26, 2010 9:49am
Quoting six gun
Just had a look at the GBP/CHF 4H chart.
The first trouble level looks like it is 1.6210 and the wick got that far.

So if you took that trade be careful now and move your stop to break even at least.
Yes, I'm in, watching it carefully moved my stop already.
thanks
  • #69,697
  • Jul 26, 2010 10:05am Jul 26, 2010 10:05am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting mbqb11
This thread is certainly about asking questions. Everyone that comes here has for the most part, just much bigger each time someone else finds it Yes often times someone will answer with a link to another past post b/c that just makes sense Unfortunately on one thread of this size there is only so much control you can have.

Please do ask questions all, and if it is something repeated someone will direct you to the appropriate place b/c we have the best people around here.


Mike
Thanks Mike! Though I'm a noob I will try and filter my questions before posting here. From my short visit here to this thread what I noticed is this - You are a rare and a class act and I certainly cannot expect everyone here to be like you.
I have seen the enemy, and it is me.
  • #69,698
  • Jul 26, 2010 10:08am Jul 26, 2010 10:08am
Quoting Jey
Thanks Mike! Though I'm a noob I will try and filter my questions before posting here. From my short visit here to this thread what I noticed is this - You are a rare and a class act and I certainly cannot expect everyone here to be like you.
thanks nice of you to say but we have a great group of helpful people that hang out here. I couldn't be more happy with the bunch that do
  • #69,699
  • Jul 26, 2010 10:09am Jul 26, 2010 10:09am
This is the best thing I've seen today so far

GBP/CHF
8Hr timeframe
BEOB, not at a BRN unfortunatly, although the 1.62RN does look significant, in terms of being a price flip

Also I hate fibs, but in this case there is a clear Swing high and low point, and the 1.62 lines up perfectly with the 38.2 retrecement.

FTA is quite close, 1.6170, after that it's trading into a mess
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  • #69,700
  • Jul 26, 2010 10:09am Jul 26, 2010 10:09am
Quoting fx13new
Yes, I'm in, watching it carefully moved my stop already.
thanks
well done, it's up to the market now, any lower and we will hit some solid areas.
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