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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

  • #71,341
  • Aug 11, 2010 8:53pm Aug 11, 2010 8:53pm
Quoting Pinbar
Thanks for the encouragement jarroo.
Not so sure at this rate, though.

Anyway, not to be put off by ones lack of progress, I am looking at ranges and am just watching USD/CHF to see how these work.

Maybe we will have a breakout.

Your progressing very well Pb, you just don't know it yet.

Yes we may breakout but we may also continue with the consolidation. Being now that we are at the top of this consolidation, some nice Bearish PA off the 1.0600 could tells we are heading down.
Indicators show the past. Price Action "Indicates" the future.
  • #71,342
  • Aug 11, 2010 8:56pm Aug 11, 2010 8:56pm
Quoting jarroo
Your progressing very well Pb, you just don't know it yet.

Yes we may breakout but we may also continue with the consolidation. Being now that we are at the top of this consolidation, some nice Bearish PA off the 1.0600 could tells we are heading down.


Yes, I am keeping that option open also and trying to learn to, trade what I see rather than what I think.

Thanks Jarroo

EDIT:

Noticed a small amount of div on the RSI which may suggest a move back down to the bottom of the range, is more likely.
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  • #71,343
  • Aug 11, 2010 9:07pm Aug 11, 2010 9:07pm
Quoting Pinbar
Yes, I am keeping that option open also and trying to learn to, trade what I see rather than what I think.

Thanks Jarroo

EDIT:

Noticed a small amount of div on the RSI which may suggest a move back down to the bottom of the range, is more likely.
The market is kind of thin right now . .Price may move around the 1.0600 until we get closer to London. we shall see . . . but the divergence looks good.
Indicators show the past. Price Action "Indicates" the future.
  • #71,344
  • Aug 11, 2010 9:09pm Aug 11, 2010 9:09pm
Quoting jarroo
The market is kind of thin right now . .Price may move around the 1.0600 until we get closer to London. we shall see . . .

My thoughts exactly, I think ranges need LO or NYO to move them.
  • #71,345
  • Aug 11, 2010 10:01pm Aug 11, 2010 10:01pm
Quoting mbqb11
how about?
Just curious, did you have a feeling 3500 was near the 50 before you drew it?
  • #71,346
  • Aug 11, 2010 10:01pm Aug 11, 2010 10:01pm
Quoting spookie94
Just curious, did you have a feeling 3500 was near the 50 before you drew it?
ya I don't really draw them much, only for you guys
  • #71,347
  • Aug 11, 2010 10:07pm Aug 11, 2010 10:07pm
Comments?

Rejected off 85.00BRN
Divergence
Swing low

However, pinbar is pretty small and lots of traffic ahead of it..
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  • #71,348
  • Aug 11, 2010 10:07pm Aug 11, 2010 10:07pm
Quoting mbqb11
ya I don't really draw them much, only for you guys
My idol the WAbbit hunter. LOL
  • #71,349
  • Aug 11, 2010 10:12pm Aug 11, 2010 10:12pm
Quoting Autumm
Comments?

Rejected off 85.00BRN
Divergence
Swing low

However, pinbar is pretty small and lots of traffic ahead of it..
Insituations like this would it be safer to wait to enter after th PB is broken?
  • #71,350
  • Aug 11, 2010 10:33pm Aug 11, 2010 10:33pm
AUDUSD has several nice looking areas to look for long positions. I'd really like to see it push down to the 8500 area over the next week or two.
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  • #71,351
  • Aug 11, 2010 10:38pm Aug 11, 2010 10:38pm
Quoting spookie94
My idol the WAbbit hunter. LOL
i havent seen that Wabbit cartoon in a LONG time
  • #71,352
  • Aug 11, 2010 10:53pm Aug 11, 2010 10:53pm
Quoting Pinbar
....
...if you can't pull the trigger you are not ready and need more practice.
....
on the other hand, when u are hesitating, it may also mean u are not comfortable/familiar with the trade setup at hand. if this is the case, your 'intuition' is correct & warning you &/or giving u second thoughts.

to help others grasp (the quoted concept) much quicker, think of crossing the street.
if it's your first time to cross a street (or if u are like many women; no disrespect, just my observation), it will take u several tries (feet stopping, moving back & forth, as if u are doing our tinikling dance) before u'll be able to cross the street successfully. the crossing may take u hundreds of seconds or even several minutes.
but if u are an experienced street crosser (or jaywalker), it will only take u 5-30seconds to cross the street, regardless of how heavy the traffic is, how fast the cars go by, or even how far the other end of the street is.

u can also think of any stuff u are an 'expert' on. u do stuff on 'auto-pilot', without much thinking or 'even with your eyes closed'.
  • #71,353
  • Aug 11, 2010 10:57pm Aug 11, 2010 10:57pm
Quoting Donkey
AUDUSD has several nice looking areas to look for long positions. I'd really like to see it push down to the 8500..
(based on your chart) 0.8500 is about 400pips away...
why not look for shorting opportunities on the way to 0.8500? (if it's your cup of tea)
that way, we become 'time efficient'.
  • #71,354
  • Aug 11, 2010 11:02pm Aug 11, 2010 11:02pm
Hello all, hope this trading day finds you well.

Im still trying to learn to draw the PPZ levels correctly, would someone care to comment on the following Gold chart...
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  • #71,355
  • Aug 11, 2010 11:05pm Aug 11, 2010 11:05pm
Quoting Pipologist99
Hello all, hope this trading day finds you well.

Im still trying to learn to draw the PPZ levels correctly, would someone care to comment on the following Gold chart...
yep well done pip, that 1200 area is a nice strong PPZ area for sure
  • #71,356
  • Aug 11, 2010 11:08pm Aug 11, 2010 11:08pm
Quoting Autumm
Comments?
Rejected off 85.00BRN.....
on FXDD demo, that small PB's high is aroud 85.45.
i see a minor PPZ right above it at 85.60 - 85.70 area. if it can break that area convincingly... then we yeah we have more traffic
86.00, 86.20-50, 87.00, 88.00.
if price is to move upward, i think it may chop around mid-85.00
Let's see..
  • #71,357
  • Aug 11, 2010 11:18pm Aug 11, 2010 11:18pm
Another perspective I would like to add about potential. The daily is in a bearish channel. This looks similar to what the AU was just in on the 4h. Remember when that broke a few days ago? So this channel breaking to the upside might coincide with the bullish PA just right. Good luck!


Sorry for the black chart. I already had it saved.
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  • #71,358
  • Aug 11, 2010 11:22pm Aug 11, 2010 11:22pm
Mike, so would an entry trigger be a break of yesterday's lows with stop loss above yesterday's high. If not, how would you play this?
  • #71,359
  • Aug 11, 2010 11:24pm Aug 11, 2010 11:24pm
Quoting Atc
What other confluences did you use to support your decision?
I think 1.29500 is too strong to just break through and go all the way. It must respect that zone, I have a feel for it. At least a retrace to this level is expected. And, I have placed my order totally based on 4-h. I haven't used daily or weekly to filter this one.

Certainly, the area provides a lot of resistance to just fall straight away.
  • #71,360
  • Aug 12, 2010 12:16am Aug 12, 2010 12:16am
anybody considering taking this pinbar on h4 nzd/usd?

edit: just noticed that it is right above the 50% fib of the last upmove...
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meine augen sind die sterne
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