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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

  • #74,261
  • Sep 8, 2010 5:34am Sep 8, 2010 5:34am
Quoting supremeChaos
thanks for the heads up!
DBHLC from which broker?
Oanda has a daily PB (Sept.7 bar).
FxPro Feed.
  • #74,262
  • Sep 8, 2010 5:37am Sep 8, 2010 5:37am
Quick 20 pips on USDCAD H1 chart.
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  • #74,263
  • Sep 8, 2010 5:58am Sep 8, 2010 5:58am
Wall street is finding serious support off a weekly PPZ at the 10300-ish, this means a increased appetite for risk and this would be advantageous for the higher yielding currencies for today. FTA would be the daily PPZ at the 10400-ish.
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Pipcrawler
  • #74,264
  • Sep 8, 2010 6:37am Sep 8, 2010 6:37am
Quoting xmzhang
Speaking about small PB's, on the 4H-TF of the U-J a small PB at the all time low did its job great....
small PBs work sometimes.... just like big PB's fail sometimes.

if u look closely...& compare usdjpy with usdchf...
usdjpy has less traffic.
usdchf was right below/right at a RN, usdjpy is not.
of course momentum helped too.

Quoting pipmyride
Yes..:
  • #74,265
  • Sep 8, 2010 6:44am Sep 8, 2010 6:44am
Long time lurker, but first time posting. Sorry if this is highjacking, but trying to find a broker to go with. I've been reading this thread for some time and demoing the setups. I really appreciate all the knowledge everyone has provided. That's why I want to ask here.

I've read a lot of the "broker discussion" forum posts and the recommended brokers. However, seems every broker has it's good and bad points.

Again, I don't want to derail the thread by any means. I just trust the opinions of posters in this thread more, especially since I'm trying to learn the J16 method.

So, the question, hopefully without getting too many responses and getting away from the real purpose of this thread, what's the best broker for a small "starting" account, or a mini I guess?
  • #74,266
  • Sep 8, 2010 6:48am Sep 8, 2010 6:48am
Quoting supremeChaos
small PBs work sometimes.... just like big PB's fail sometimes.

if u look closely...& compare usdjpy with usdchf...
usdjpy has less traffic.
usdchf was right below/right at a RN, usdjpy is not.
of course momentum helped too.
Another advantage of the U-J was that price was at an all time low which usually act (although temporarely) as strong support.
Pipcrawler
  • #74,267
  • Sep 8, 2010 6:56am Sep 8, 2010 6:56am
This could maybe be of help to some that sees a pinbar like this and jumps in the trade because it looks like a good setup, we have support from the 150 and 365 ema, it is off a ppz, it is a perfect fib .38 level retracement on the wave. All good right?

Well yes, but then look at some other factors, FTA is very close, we have the 60.00 BRN working against us around the FTA I highlight on the chart, Spread is around 4-5pips for me on this pair.. All factors making this a risky trade even if it would trigger. Hope this helps some in showing you how one should analyze every setup..
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Thank you j16!
  • #74,268
  • Sep 8, 2010 7:15am Sep 8, 2010 7:15am
Quoting anderou
This could maybe be of help to some that sees a pinbar like this and jumps in the trade because it looks like a good setup, we have support from the 150 and 365 ema, it is off a ppz, it is a perfect fib .38 level retracement on the wave. All good right?

Well yes, but then look at some other factors, FTA is very close, we have the 60.00 BRN working against us around the FTA I highlight on the chart, Spread is around 4-5pips for me on this pair.. All factors making this a risky trade even if it would trigger. Hope this helps some in showing you...
Nice you mentioned this pair, on the 4H-TF price generated a PB at a swing low, off a weekly PPZ (blue), price closed above BRN 6000 and fib confluence. FTA would be the daily PPZ @ 6040-ish.
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Pipcrawler
  • #74,269
  • Sep 8, 2010 7:19am Sep 8, 2010 7:19am
the pin is rejected off BRN and also at swing high. next bar again made an attempt at BRN and failed. can we go short ? i see some consolidation bars around this level (seen behind that big bar). may be we wait to take out those bars also before taking short ?
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  • #74,270
  • Sep 8, 2010 7:20am Sep 8, 2010 7:20am
Quoting floridays
Long time lurker, but first time posting. Sorry if this is highjacking, but trying to find a broker to go with. I've been reading this thread for some time and demoing the setups. I really appreciate all the knowledge everyone has provided. That's why I want to ask here.

I've read a lot of the "broker discussion" forum posts and the recommended brokers. However, seems every broker has it's good and bad points.

Again, I don't want to derail the thread by any means. I just trust the opinions of posters in this thread more, especially since...
Hey Floridays,

Yes not really our speciality here. But I would say demo on some of the big names (FXPRO, ALPARI, FXCM, OANDA, IBFX etc). If you have decided you like a particular one check and compare the services they offer. Starting with a mini account you would want nano lots so check that. One pointer, you will allways find horror stories about every broker from unhappy clients on the internet, in my view most of these are from customers who are sour about throwing away their money because of irresponsible/ over leveraged trading.

I trade with IBfx and I am a happy camper. that's all I can say, I have a friend who trades with Oanda and he is a happy camper aswell. Can't vouch or shoot down any other brokers. I do not think anyone of the top, big name brokers is out to steal your money, haha. So I guess you should test drive their services and decide what works for you.

hope this helps,
Thank you j16!
  • #74,271
  • Sep 8, 2010 7:24am Sep 8, 2010 7:24am
Quoting xmzhang
Nice you mentioned this pair, on the 4H-TF price generated a PB at a swing low, off a weekly PPZ (blue), price closed above BRN 6000 and fib confluence. FTA would be the daily PPZ @ 6040-ish.
Exactly, nice to see how smaller time frame pa gives small hints about what is going on in the big time frames like weekly etc.
Thank you j16!
  • #74,272
  • Sep 8, 2010 7:47am Sep 8, 2010 7:47am
Nice confluence on GBPCHF.

I have sold into the downtrend at the 62 fib/trendline area. Smaller (.25 r) position size as no PA yet. Give me some bearish PA here and I'm adding to it :-)
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  • #74,273
  • Sep 8, 2010 7:51am Sep 8, 2010 7:51am
Another view on 1 hour chart with additional lower trendline.
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  • #74,274
  • Sep 8, 2010 8:01am Sep 8, 2010 8:01am
Quoting roundrock
the pin is rejected off BRN and also at swing high. next bar again made an attempt at BRN and failed. can we go short ? i see some consolidation bars around this level (seen behind that big bar). may be we wait to take out those bars also before taking short ?
The problem with this trade would be the FTA/PPZ @ 21438 which is in this case very close to the close of the PB, price reacted of this daily PPZ. Technically speaking the PB has been validated because price broke the PB and has pulled back now. Unless you had a buffer of more than 5 pips, you would entered on the break and would now be facing a drawdown. Or you could in you case wondering to enter after the break at the pullback. Say price would eventually break the aforementioned PPZ, what would then be the next obstacle ? I think the next obstacle that might stall price would be the daily PPZ @ 21410 so we would have about a 28 pips move before we would manage our trade, that seems reasonable.

May the force be with you.
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Pipcrawler
  • #74,275
  • Sep 8, 2010 8:12am Sep 8, 2010 8:12am
Quoting roundrock
the pin is rejected off BRN and also at swing high. next bar again made an attempt at BRN and failed. can we go short ? i see some consolidation bars around this level (seen behind that big bar). may be we wait to take out those bars also before taking short ?
BTW, also take a look at the 1H-TF and see where price retraced after the break of the PB, exactly right towards the RNB 21500 (to the pip), price confirmed resistance via a 1H-PB.http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #74,276
  • Sep 8, 2010 8:14am Sep 8, 2010 8:14am
Been keeping an eye on stocks lately, I see an interesting looking Price Action setup on Daily HUBG (Hub Group Inc)

Breakdown and pullback to recent trading range, Bearish Pinbar forming, showing that price was rejected from the bottom of the range, and the $30 round number

Will be watching this one closely.

J
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  • #74,277
  • Sep 8, 2010 8:18am Sep 8, 2010 8:18am
Are you guys taking a trade on the Daily chart if for the next Day comes big news out which are red in the FF calender?
  • #74,278
  • Sep 8, 2010 8:29am Sep 8, 2010 8:29am
Quoting james16
closing in on 5000 pages folks.
Guess you're buying the drinks then Jim
every Saint has a past. Every Sinner has a Future
  • #74,279
  • Sep 8, 2010 8:36am Sep 8, 2010 8:36am
Quoting john225
Are you guys taking a trade on the Daily chart if for the next Day comes big news out which are red in the FF calender?
me, yes. because there are "red news" nearly every day and otherwise trading would be impossible.
meine augen sind die sterne
  • #74,280
  • Sep 8, 2010 8:39am Sep 8, 2010 8:39am
ok thanks
that makes sense ;-)
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