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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

  • #71,221
  • Aug 10, 2010 11:55pm Aug 10, 2010 11:55pm
Crude oil is in a very interesting position. Its just gone below 80 and if today's bar becomes a pin bar, tomorrow is going to be a great trade. Excellent PPZ in weekly and daily charts. Also, today is 'crude oil inventories' report. A big fluctuation is possible.
  • #71,222
  • Aug 11, 2010 12:02am Aug 11, 2010 12:02am
speechless now


jeurre

Quoting supremeChaos
high probability setup would be an A+ setup that YOU trade. (it may not exactly be the A+ setups shown here)
if u find that setup u mentioned in that post as an A+ setup, then by all means go ahead & trade it.
u have to remember that each of us is unique & has different comfort levels when it comes to trading... & an A+ setup to u may not necessarily be A+ to me or to others & vice versa.
that's what i meant by "trade what u are comfortable trading & has a...
  • #71,223
  • Edited 12:14am Aug 11, 2010 12:04am | Edited 12:14am
Quoting jeurre
yeah, high likely it will move around like what you drew,
...
right now, i see a bigger chance for 1.0550 to get hit first than 1.0450 (PB low is 1.0459; FXDD). in other words, i see the PB's chance of breaking is lower than the chance of the PB's nose getting broken.
i see 1.0480 - 1.0500 as a PPZ which price needs to go through convincingly if it wants to break downwards. even if it does, it does have a lot of trees to chop towards 1.0400

of course, the market will soon show what it wants to do. let's see
  • #71,224
  • Aug 11, 2010 12:14am Aug 11, 2010 12:14am
nobody says anything, so, jumped into the mess,lucky though, still need some patience to see if the little trouble could be sorted out as expected

jeurre

Quoting jeurre
Hi, Guys, anyone of you may want to help with this? EJ broke an important trendline, and looks like pullback and retested. now, we have inside bar as setup, where would you place your short stop order ?

jeurre
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  • #71,225
  • Aug 11, 2010 12:24am Aug 11, 2010 12:24am
Quoting jeurre
nobody says anything, so, jumped into the mess,lucky though, still need some patience to see if the little trouble could be sorted out as expected

jeurre


Bank Of Japan News in on JPY in just over 30 mins.
the government has been hinting at measures to prevent JPY rising so much recently.


Might be an idea to watch out for it.
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  • #71,226
  • Aug 11, 2010 12:32am Aug 11, 2010 12:32am
I went short just now.

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  • #71,227
  • Aug 11, 2010 1:09am Aug 11, 2010 1:09am
what about this buob?
con: not at a swing high.
pro:broke upper triangle.
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meine augen sind die sterne
  • #71,228
  • Aug 11, 2010 1:10am Aug 11, 2010 1:10am
Quoting The Lord
I went short just now.

Attachment
in my opinion there is much traffic, with FTA @ 0,8275
PB not a swing high
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  • #71,229
  • Aug 11, 2010 1:13am Aug 11, 2010 1:13am
Quoting aserbfx
what about this buob?
con: not at a swing high.
pro:broke upper triangle.
You have identified on your own chart that the price is in a congestion ... PA means nothing here
  • #71,230
  • Aug 11, 2010 1:23am Aug 11, 2010 1:23am
okey, i set stoploss BE in case reversal

jeurre

Quoting Pinbar
Bank Of Japan News in on JPY in just over 30 mins.
the government has been hinting at measures to prevent JPY rising so much recently.


Might be an idea to watch out for it.
  • #71,231
  • Aug 11, 2010 1:31am Aug 11, 2010 1:31am
"The Bank of Japan kept its assessment of the economy unchanged for a third month, maintaining its view the nation will keep expanding even as the yen advances against the dollar. “Japan’s economy shows further signs of a moderate recovery, induced by improvement in overseas conditions,” the central bank said in a monthly report released the central bank said in a monthly report released today in Tokyo, using the same language as yesterday’s policy statement. “Japan’s economy is likely to recover at a moderate pace,” the central bank said in today’s report. The bank said growth in production and exports “is likely to moderate,” removing the word “gradually” used in July. The bank’s..."
  • #71,232
  • Aug 11, 2010 1:51am Aug 11, 2010 1:51am
Quoting s2659
in MY opinion, 1% and less should suffice. What I have learned is that protecting your capital, and good risk management should always be a priority in a trade.
EDIT: the more you risk, the more you risk to lose it sounds so simple, yet so many fail to understand that.

I have 3 steps.

1. Being patient and waiting for a high probability trade, being a trade with good confluence and at good locations. Remember, the more confluence you have, the more likely your trade will succeed.

2. Risk management, after entering a given trade, I now focus...

V, my thinking is similar to yours. However I find it most difficult ( step 1) - really choosing a good high probability setup. I think if I could master this, teach myself to be picky I would really improve.
Thanks for your post.
  • #71,233
  • Aug 11, 2010 2:21am Aug 11, 2010 2:21am
Quoting chowur
"The Bank of Japan kept its assessment of the economy unchanged for a third month, maintaining its view the nation will keep expanding even as the yen advances against the dollar. “Japan’s economy shows further signs of a moderate recovery, induced by improvement in overseas conditions,” the central bank said in a monthly report released the central bank said in a monthly report released today in Tokyo, using the same language as yesterday’s policy statement. “Japan’s economy is likely to recover at a moderate pace,” the central bank said in today’s...

Obviously some believed it.
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  • #71,234
  • Edited 2:37am Aug 11, 2010 2:37am | Edited 2:37am
Quoting benji533
Here is an interesting setup.

Bouncing off all times low support, BRN, and engulfing 4 prior bars with a good close.
you nailed it (again!)
It went right to 1.36 to the pip.
Now what can we say?
Dirt simple?
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  • #71,235
  • Aug 11, 2010 2:52am Aug 11, 2010 2:52am
sugar no 11 october..
short opportunity (down channel +ipb H1)
  • #71,236
  • Aug 11, 2010 2:57am Aug 11, 2010 2:57am
high grade copper september: long opportunity .. good location + kinda pb
  • #71,237
  • Aug 11, 2010 3:27am Aug 11, 2010 3:27am
I've apparently absentmindedly left out Bundy's summaries for the past few hundred pages.

My bad mate!

I can't seem to find the recent one's, but for those requesting, here's Bundy's posts from pg 1 to 4000 for now.
Attached File(s)
File Type: zip Bundyraider.zip   570 KB | 720 downloads
One Mind, Any Market
  • #71,238
  • Aug 11, 2010 3:32am Aug 11, 2010 3:32am
Quoting mistersimple
high grade copper september: long opportunity .. good location + kinda pb
do you mind posting a chart?
so that the readers can see what you mean...
thanks!
meine augen sind die sterne
  • #71,239
  • Aug 11, 2010 3:46am Aug 11, 2010 3:46am
thanks, Cyrus, he is indeed one of the best traders on this thread that I would like to pay full attention to learn from.

jeurre

Quoting Cyrus
I've apparently absentmindedly left out Bundy's summaries for the past few hundred pages.

My bad mate!

I can't seem to find the recent one's, but for those requesting, here's Bundy's posts from pg 1 to 4000 for now.
  • #71,240
  • Aug 11, 2010 3:47am Aug 11, 2010 3:47am
Quoting aserbfx
do you mind posting a chart?
so that the readers can see what you mean...
thanks!
sure ..
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