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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

  • #74,361
  • Sep 9, 2010 12:46am Sep 9, 2010 12:46am
Quoting PenguinTrade
I skipped this pin because it wasn't that big, and wasn't at a BRN. It was close to .8400 but not touching. It worked out really well though, is there something I'm missing?
I'm thinking I didn't take into account how much space to the left. (That's space right?
Hello PenguinTrade,
sure, that's space.
like i said a few posts back.. a small pin works sometimes, just as big PBs/PA setups fail sometimes

what's great about this pin, is the location + trend (zoom out daily chart).
plot a PPZ at 0.8390, check daily & weekly chart with it. i have that line since July/August. u can see, price has respected & bounced off of that area, creating that pin.

just my views..hope that helps
  • #74,362
  • Sep 9, 2010 12:49am Sep 9, 2010 12:49am
Quoting supremeChaos
Hello PenguinTrade,
sure, that's space.
like i said a few posts back.. a small pin works sometimes, just as big PBs/PA setups fail sometimes

what's great about this pin, is the location + trend (zoom out daily chart).
plot a PPZ at 0.8390, check daily & weekly chart with it. i have that line since July/August. u can see, price has respected & bounced off of that area, creating that pin.

just my views..hope that helps

Sorry sChaos but your chart didn't appear in your post . . . I hope my computer is not messing up again . .
Indicators show the past. Price Action "Indicates" the future.
  • #74,363
  • Sep 9, 2010 12:51am Sep 9, 2010 12:51am
Quoting Pinbar
....
They have a saying here in Japan about 8 blind men each holding on to a piece of an elephant...
ah i remember that story
en.wikipedia.org/wiki/Blind_men_and_an_elephant
  • #74,364
  • Sep 9, 2010 12:53am Sep 9, 2010 12:53am
Quoting jarroo
Sorry sChaos but your chart didn't appear in your post . . . I hope my computer is not messing up again . .
hahah...
i did not include a chart Sir.
your PC is doing fine...so far.
  • #74,365
  • Sep 9, 2010 12:56am Sep 9, 2010 12:56am
Quoting supremeChaos
hahah...
i did not include a chart Sir.
your PC is doing fine...so far.

lol just messing with ya SC lol
Indicators show the past. Price Action "Indicates" the future.
  • #74,366
  • Sep 9, 2010 1:05am Sep 9, 2010 1:05am
Quoting mbqb11
hahaha are u kidding me. I must be pure NY b/c what the heck do you do with that thing.
i found 'better' links within that page.
thanks jarroo, LOL
  • #74,367
  • Sep 9, 2010 1:44am Sep 9, 2010 1:44am
Quoting jarroo
Ok . .I threw in the 8 Hour time frame on the GU . .just to see if you're paying attention.
1st target hit and then some.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,368
  • Sep 9, 2010 1:52am Sep 9, 2010 1:52am
Quoting jarroo
1st target hit and then some.
Yes, the 4 Hour PB on the FXCM feed was better, having all the characteristics of a high quality setup.

Edit: When I say "better" I mean only in the sense of an earlier entry. Both the 4 hour and the 8 Hour have high quality characteristics.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #74,369
  • Sep 9, 2010 2:01am Sep 9, 2010 2:01am
Quoting jarroo
Yes, the 4 Hour PB on the FXCM feed was better, having all the characteristics of a high quality setup.

Edit: When I say "better" I mean only in the sense of an earlier entry. Both the 4 hour and the 8 Hour have high quality characteristics.
With different feeds, there are different look and feel on the charts. Had that occured in Fxpro feed, I would have taken that setup. But no pin there.
  • #74,370
  • Sep 9, 2010 2:04am Sep 9, 2010 2:04am
Here's a trade I took on the GBP/CHF yesterday. Recorded it for the folks here

Inserted Video


(don't forget the 720p button)

g.
I believe . . .
  • #74,371
  • Sep 9, 2010 2:04am Sep 9, 2010 2:04am
Quoting The Lord
With different feeds, there are different look and feel on the charts. Had that occured in Fxpro feed, I would have taken that setup. But no pin there.

You would have take it on the FxPro feed because of its Location; swing high, BRN; 1.5500, etc. . .correct?
Indicators show the past. Price Action "Indicates" the future.
  • #74,372
  • Sep 9, 2010 2:09am Sep 9, 2010 2:09am
Quoting jarroo
You would have take it on the FxPro feed because of its Location; swing high, BRN; 1.5500, etc. . .correct?
Without clear price action, always terrifying!
  • #74,373
  • Sep 9, 2010 2:11am Sep 9, 2010 2:11am
Quoting ghous
Here's a trade I took on the GBP/CHF yesterday. Recorded it for the folks here

http://www.youtube.com/watch?v=tRHt--wuH9M

(don't forget the 720p button)

g.
nice job G thanks for sharing !
  • #74,374
  • Sep 9, 2010 2:12am Sep 9, 2010 2:12am
Quoting fxprocessor
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 :-)

Update:

Risk covered now this is 60 pips in profit.
  • #74,375
  • Sep 9, 2010 2:14am Sep 9, 2010 2:14am
Quoting The Lord
Without clear price action, always terrifying!

Yes . .sorry . . since there was no clear, confirming PA it was a pass. I just wanted to point out that the location and other confluences were there other than PA.
Indicators show the past. Price Action "Indicates" the future.
  • #74,376
  • Sep 9, 2010 2:17am Sep 9, 2010 2:17am
Quoting Pinbar
....
Hmm, while the PPZ and BRNs will indeed be the same, what is not the same is that the PA is not as definitive. As Mike mentioned he does not trade IB, then my feed would not be a trade.
....
but what if u/he trades IB's? then, it would be immaterial if it's a PB or IB right, since he/u'll trade it anyway.
if u wear a different :nerd:slightly_frowning_face:& usingyour creative mind), u will notice that if u "add a part of the prior bar with that IB" (talking about your FXDD feed), it will form a PB.
it is a matter of perspective, as has been said already.
also, i checked your FXDD & Mike's chart, the low of the PB & IB seem to be quite similar.having said allthese, in essence,thePB & IB are both tradeable -- they just look different (due to varying broker time feeds).

looking at 2 or more feeds wont be 'too much'. in the beginning it might, it just takes getting used to. but actually, u wont be trading all the PAs u'll be seeing in 2 or more feeds, u only have to monitor/check the PA's (in time, u will become 'time efficient' when it comes to glancing at the charts),& pick the best PA setup u are comfortable trading.
i think u just feel overwhelmed right now ('oh man, im gonna have to look at that many feeds now?!?!'). that's understandable, & know that that feeling is fleeting.

hope this helps further
  • #74,377
  • Sep 9, 2010 2:20am Sep 9, 2010 2:20am
Quoting ghous
Here's a trade I took on the GBP/CHF yesterday. Recorded it for the folks here

http://www.youtube.com/watch?v=tRHt--wuH9M

(don't forget the 720p button)

g.

Great video G. Many important things covered in that one, nice job!


I couldn't help but notice the retracement before the break . . previous bar High. I love when that happens. Price is behaving correctly . .lol . .meaning like it was a swing low or showing its high quality.
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Indicators show the past. Price Action "Indicates" the future.
  • #74,378
  • Sep 9, 2010 2:21am Sep 9, 2010 2:21am
Quoting jarroo
Yes . .sorry . . since there was no clear, confirming PA it was a pass. I just wanted to point out that the location and other confluences were there other than PA.
No problem Sir. I think I will have to start using other feeds as well. But not sure. It will be more screen time as a major disadvantage.
  • #74,379
  • Sep 9, 2010 2:25am Sep 9, 2010 2:25am
Quoting supremeChaos

i think u just feel overwhelmed right now ('oh man, im gonna have to look at that many feeds now?!?!'). that's understandable, & know that that feeling is fleeting.
I felt the answer was for me.
  • #74,380
  • Sep 9, 2010 2:37am Sep 9, 2010 2:37am
back from holiday lads refreshed and ready for some action...
UJ is looking interesting, with the BOJ watching the yen closely i wouldnt be surprised to see intervention.
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