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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

  • #70,601
  • Aug 5, 2010 12:39am Aug 5, 2010 12:39am
Check this GBP/CAD chart. Long lasting resistance @ 1,6200 finally broken and retested. Will the resistance turn into support? Is it worth going long now even though there's a huge macd divergence. Thanks.
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  • #70,602
  • Aug 5, 2010 12:47am Aug 5, 2010 12:47am
James16 chat post

M5 PB
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  • #70,603
  • Aug 5, 2010 1:21am Aug 5, 2010 1:21am
I'm looking for a break and/or break & retest of this 2 Day PB on the Daily GU.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,604
  • Aug 5, 2010 1:25am Aug 5, 2010 1:25am
Quoting jarroo
I'm looking for a break and/or break & retest of this 2 Day PB on the Daily GU.
Its a bit small and a rejection up and through and then down the 1.6000 would have been nice but I like its location.
Indicators show the past. Price Action "Indicates" the future.
  • #70,605
  • Aug 5, 2010 1:32am Aug 5, 2010 1:32am
Quoting jarroo
So a free trade target on the Eur/Aud Daily small PB would be taken at the FTA, 1.4500. Depending on your buffer and spread . .between 40-50 pips or as high as 70+pips, target beyond the 1.4500.

Trades like these are fun to watch when you have nothing to lose and everything to gain . . especially if they start to run. But be prepared for more net zero trades than runners. Again, depending on your profit taking targets.

Result: Net zero trade. That was fun.

I like trades that you don't have to babysit because in a free trade like these you have nothing to lose and everything to gain . . .the runners will come. . . .they always do.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,606
  • Aug 5, 2010 1:40am Aug 5, 2010 1:40am
Jarroo

What is your opinion as to how far this BEOB may go on NZD/USD

the A or B mark?
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  • #70,607
  • Aug 5, 2010 1:41am Aug 5, 2010 1:41am
Quoting jarroo
I'm looking for a break and/or break & retest of this 2 Day PB on the Daily GU.
here we go . . .
Indicators show the past. Price Action "Indicates" the future.
  • #70,608
  • Aug 5, 2010 1:43am Aug 5, 2010 1:43am
Quoting jarroo
Its a bit small and a rejection up and through and then down the 1.6000 would have been nice but I like its location.
Yep with ya J ... there is actually a double fib cluster there too so either it gets to 1.60 after a nice retrace or it doesnt ..

i drew the grey box early in the week looking for something in the box and lo-and-behold

A break of the parabolic TL will be niiiice
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  • #70,609
  • Aug 5, 2010 1:43am Aug 5, 2010 1:43am
I'm not sure if this one has been discussed already (i'm a bit behind with posts)

U/J is in a downtrend and has moved back up to retest previous lows at the 61.8% fib and 86.5 RN. Theres a BEOB that formed. The trade looks quite good to me but the 86.00 BRN is just below the BEOB and price has already been rejected from it once in the last few hours. Would a short order below 86.00 be a wise move or should I just wait for another setup?
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  • #70,610
  • Aug 5, 2010 1:44am Aug 5, 2010 1:44am
Quoting Pinbar
Jarroo

What is your opinion as to how far this BEOB may go on NZD/USD

the A or B mark?
Where's the Daily PPZ level?
Indicators show the past. Price Action "Indicates" the future.
  • #70,611
  • Aug 5, 2010 1:45am Aug 5, 2010 1:45am
Quoting pipmyride
Yep with ya J ... there is actually a double fib cluster there too so either it gets to 1.60 after a nice retrace or it doesnt ..

i drew the grey box early in the week looking for something in the box and lo-and-behold

A break of the parabolic TL will be niiiice

Nice pmr . .I like the Space on this too.
Indicators show the past. Price Action "Indicates" the future.
  • #70,612
  • Aug 5, 2010 1:49am Aug 5, 2010 1:49am
Quoting jarroo
here we go . . .
Previous bar low and 365 ema target, 5700ish.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,613
  • Aug 5, 2010 1:58am Aug 5, 2010 1:58am
Quoting Pinbar
Jarroo

What is your opinion as to how far this BEOB may go on NZD/USD

the A or B mark?
If we can get below the .7270 PPZ level we're looking good, Pb.
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Indicators show the past. Price Action "Indicates" the future.
  • #70,614
  • Aug 5, 2010 2:01am Aug 5, 2010 2:01am
Quoting jarroo
Where's the Daily PPZ level?

Right around the 0.7250 area, I think.

So A is the choice of the two of them?
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  • #70,615
  • Aug 5, 2010 2:01am Aug 5, 2010 2:01am
Quoting jarroo
If we can get below the .7270 PPZ level we're looking good, Pb.

James16's "This is Critical" . . .
Indicators show the past. Price Action "Indicates" the future.
  • #70,616
  • Aug 5, 2010 2:05am Aug 5, 2010 2:05am
Quoting Pinbar
Right around the 0.7250 area, I think.

So A is the choice of the two of them?
Yes Pb . .looks good.
Indicators show the past. Price Action "Indicates" the future.
  • #70,617
  • Aug 5, 2010 2:05am Aug 5, 2010 2:05am
Quoting jarroo
Previous bar low and 365 ema target, 5700ish.
Couldn't help but notice a H&S like pattern on the 1H (looks more like the head of Bart Simpson though)................
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  • #70,618
  • Aug 5, 2010 2:05am Aug 5, 2010 2:05am
Pinbar which MA's are you using in your charts?
  • #70,619
  • Aug 5, 2010 2:06am Aug 5, 2010 2:06am
Quoting ertorque
Couldn't help but notice a H&S like pattern on the 1H (looks more like the head of Bart Simpson though)................
lol . . nice ertorque. . .
Indicators show the past. Price Action "Indicates" the future.
  • #70,620
  • Aug 5, 2010 2:12am Aug 5, 2010 2:12am
Quoting Atc
Even though I have seen this many times...thx for taking the time to drill it into my skull....this is a fantastic explanation...hits home
Thanks Atc.


Looks like the Support level on the Eur/Cad is weak . .this dog won't hunt (like the chf/jpy). . looks like were going the other way. Probably will act as a stronger Resistance level.
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Indicators show the past. Price Action "Indicates" the future.
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