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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

  • #73,301
  • Aug 30, 2010 7:36am Aug 30, 2010 7:36am
Quoting benji533
Someone else cached this baby on eurjpy?
Look how deeply it tested that consolidation box and closed as a beob
.
Where was your FTA positioned, at the 10800 perhaps ?
Pipcrawler
  • #73,302
  • Aug 30, 2010 7:40am Aug 30, 2010 7:40am
Quoting Jonnyislost
For those interested in stocks and are very comfortable with the MT4 trading platform, I just found the GCI Financial Demo http://www.gcitrading.com/cfd-software.htm

They list literally hundreds of US and European Stocks as well as commodities including Treasuries

They even have Lehman Brothers???
I just noticed there was a nice BEOB right before the stock went to zero

Jonny
Haha! Nice one
  • #73,303
  • Aug 30, 2010 7:40am Aug 30, 2010 7:40am
Quoting mbqb11
Oh I guess I should let you all know, the only BRN I ignore is Zero


*cricket sounds*

But it provides pretty good support
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  • #73,304
  • Aug 30, 2010 7:47am Aug 30, 2010 7:47am
Quoting Jonnyislost
For those interested in stocks and are very comfortable with the MT4 trading platform, I just found the GCI Financial Demo http://www.gcitrading.com/cfd-software.htm

They list literally hundreds of US and European Stocks as well as commodities including Treasuries

They even have Lehman Brothers???
I just noticed there was a nice BEOB right before the stock went to zero

Jonny
Like Forexpeacearmy is the gcitrading broker a scam
http://www.forexpeacearmy.com/public...gcitrading.com
  • #73,305
  • Aug 30, 2010 7:50am Aug 30, 2010 7:50am
Quoting xmzhang
Hey PB,
I've asked some posts ago a question to one of the senior members about drawing these PPZ's after I saw a PA-pattern and not before a PA would pop up. His reply was this method would be vunerable to curve fitting. That is, identifying the PPZ would be influenced by the PA. I don't know if this would be the case, I think the only way to find out is to demo trade this mehod. My preference would be a step by step method, I start with a clean chart and when I see a PA-pattern I firstly determine the FTA, because this is the most important level...


Yeah, I can also agree with that...Maybe it is best to setup and leave them till PA shows itself.

My mind is all over the place with this heat.
  • #73,306
  • Aug 30, 2010 7:50am Aug 30, 2010 7:50am
Quoting john225
Like Forexpeacearmy is the gcitrading broker a scam
http://www.forexpeacearmy.com/public...gcitrading.com
Just to clarify I am in no way recommending them as a broker, I don't have any money with them. Literally just using their charts as a stock screener, as it's free and more user friendly than many of the Java/Web screeners out there

Jonny
  • #73,307
  • Aug 30, 2010 7:52am Aug 30, 2010 7:52am
Quoting mbqb11
Hey Imp

Price broke much higher, that I wouldn't think taking a retrace now makes the most sense. I think it's more favorable to get the retrace right away, as now this went on towards the first trouble areas before retracing. It still could pick up from a retracement and go higher, but I wouldn't want to mess with them now.

Best
Mike
If price retraces before breaking the PB high and you would then be planning to enter a trade when price retraces to a certain level, then in fact you do not wait for the confirmation of the PB. So chances are that price will not confirm the PA at all. Instead if you wait for price to retrace after having broken the high of the PB, you know that the PB has been confirmed, as you would say a bar is a PB when it is confirmed by price. If understood well this trade could be played in two ways depending how hard the break of the PB would be or no break at all initially.
Pipcrawler
  • #73,308
  • Aug 30, 2010 7:55am Aug 30, 2010 7:55am
Quoting supremeChaos
i believe ongoing full recovery.
Many thanks,Sir.



i think, with 'stronger close', he meant he wanted the close above the open (plus bigger nose)
Glad you're ok Sir I thought you were on vacation.
The thread was moving slower beacuse of your absence
  • #73,309
  • Aug 30, 2010 7:55am Aug 30, 2010 7:55am
Quoting xmzhang
If price retraces before breaking the PB high and you would then be planning to enter a trade when price retraces to a certain level, then in fact you do not wait for the confirmation of the PB. So chances are that price will not confirm the PA at all. Instead if you wait for price to retrace after having broken the high of the PB, you know that the PB has been confirmed, as you would say a bar is a PB when it is confirmed by price. If understood well this trade could be played in two ways depending how hard the break of the PB would be or no break...
Yes well it depends on how you are comfortable entering. I never do retrace entries, I am conservative, like to see price confirm the bar. Some people put an order on the break and one on the retrace and pull the other one when one gets hit. Really just comes back to the trader. They all have advantages/disadvantages. It all has to fit in line with your beliefs/personality etc.

Best
Mike
  • #73,310
  • Aug 30, 2010 7:56am Aug 30, 2010 7:56am
Quoting Bollocks
nice setups, easy trades
In both trades where was your FTA positioned ?
Pipcrawler
  • #73,311
  • Aug 30, 2010 7:56am Aug 30, 2010 7:56am
Quoting xmzhang
Where was your FTA positioned, at the 10800 perhaps ?
108.20 is where I moved my stop to BE
  • #73,312
  • Aug 30, 2010 8:13am Aug 30, 2010 8:13am
My first demo trade with Candlestick Pattern ;-)
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  • #73,313
  • Aug 30, 2010 8:14am Aug 30, 2010 8:14am
Quoting Jonnyislost
But it provides pretty good support
wow never saw a chart of a bankrupt company . Very interesting. And yes zero seems a very good support area.
  • #73,314
  • Edited 9:09am Aug 30, 2010 8:20am | Edited 9:09am
J16...in action forgot DBHLC
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  • #73,315
  • Aug 30, 2010 8:32am Aug 30, 2010 8:32am
Quoting ppfx
wow never saw a chart of a bankrupt company . Very interesting. And yes zero seems a very good support area.
im still waiting for it to bounce so i can short it, as i missed that last BEOB


Quoting supremeChaos
i believe ongoing full recovery.
....
btw, many thanks to ALL the well wishers & would-be's
  • #73,316
  • Aug 30, 2010 8:49am Aug 30, 2010 8:49am
Quoting Atc
J16...in action
I have to admit. You've got some pretty good artistic skills.
  • #73,317
  • Aug 30, 2010 8:54am Aug 30, 2010 8:54am
Quoting Ace284
I have to admit. You've got some pretty good artistic skills.
If I don't make it in the long run trading, then I'm going into Graphic Design
  • #73,318
  • Aug 30, 2010 9:25am Aug 30, 2010 9:25am
took these 2 quick guns on the Cad crosses.

g.
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I believe . . .
  • #73,319
  • Aug 30, 2010 9:52am Aug 30, 2010 9:52am
I have been finding the 8H TF to be very helpful or more reliable or just maybe suiting my style...using FXCM for 8H but other brokers for execution
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  • #73,320
  • Aug 30, 2010 10:07am Aug 30, 2010 10:07am
Now i see why my GBPCHF long from Friday is in loss coz u took the opposite side.............guyz/galz learn to control something called GREED......................am regretting why i left this long running esp when it had given me some 110pips earlier today...................GREED...........

Quoting Atc
I have been finding the 8H TF to be very helpful or more reliable or just maybe suiting my style...using FXCM for 8H but other brokers for execution
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