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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

  • #75,141
  • Sep 19, 2010 6:51pm Sep 19, 2010 6:51pm
I would not trade either. The FTA is just below the low of the bar on the GBP/CHF. And the location on USD/CAD is not good. Below is the USD/CAD chart for a visual. The blue shaded area is where to look for bullish PA. Notice the confluence?

Scott

Quoting Dan Gilbert
Both the USDCAD BUOB off dbl bottom/last years low price and the GBPCHF bearish pin off the 1.6 look fantastic to me.
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  • #75,142
  • Sep 19, 2010 7:45pm Sep 19, 2010 7:45pm
Quoting phpscott
I would not trade either. The FTA is just below the low of the bar on the GBP/CHF. And the location on USD/CAD is not good. Below is the USD/CAD chart for a visual. The blue shaded area is where to look for bullish PA. Notice the confluence?

Scott
if u ask me, if price doesnt get to previous lows....it cld as well be showing bullish strength
vice versa for previous highs
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Simplicity is the key to success
  • #75,143
  • Sep 19, 2010 7:57pm Sep 19, 2010 7:57pm
Hey guys, can anyone tell me if today is Japan's Bank Holiday?
Thanks.

CY
  • #75,144
  • Sep 19, 2010 7:58pm Sep 19, 2010 7:58pm
Quoting ertorque
Hey guys, can anyone tell me if today is Japan's Bank Holiday?
Thanks.

CY
All Day JPY Bank Holiday
http://cdn.forexfactory.com/images/m...dar_detail.gif
Yep you can check this on the calendar here at FF which is great

http://www.forexfactory.com/calendar.php
  • #75,145
  • Sep 19, 2010 8:02pm Sep 19, 2010 8:02pm
Quoting mbqb11
All Day JPY Bank Holiday
http://cdn.forexfactory.com/images/m...dar_detail.gif
Yep you can check this on the calendar here at FF which is great

http://www.forexfactory.com/calendar.php
Thanks Mike. Should have known better before asking
  • #75,146
  • Sep 19, 2010 8:20pm Sep 19, 2010 8:20pm
You are correct. We try to only take trades that give us a great chance of success. If price does go up from here, no big deal... the next trade will be right around the corner.

A PA setup is nothing more than a trigger. They mean almost nothing alone.

Scott

Quoting squeezy
if u ask me, if price doesnt get to previous lows....it cld as well be showing bullish strength
vice versa for previous highs
  • #75,147
  • Sep 20, 2010 1:59am Sep 20, 2010 1:59am
Quoting Pinbar
Jarroo, I am up late drinking beer and watching SL's videos and reading his journal. Must have put in 15 hours solid today. It is interesting and confirms that we must swim with the big fish on large TF and seek confirmation and entries on lower TF.

Hello,
Where can I find these videos?

Thanks
  • #75,148
  • Sep 20, 2010 2:32am Sep 20, 2010 2:32am
Hello bee24,
i think the videos are from the J16 PF.
  • #75,149
  • Sep 20, 2010 4:35am Sep 20, 2010 4:35am
Quoting bee24
Hello,
Where can I find these videos?

Thanks

Yes, as Supreme mentioned, they are part of the educational materials in the J16 PF.
  • #75,150
  • Sep 20, 2010 4:51am Sep 20, 2010 4:51am
Hi all

I think my qn got lost earlier

Can you s/one point out where they would enter on the PA setup of 2 consecutive matching lows?

Thanks
  • #75,151
  • Sep 20, 2010 5:05am Sep 20, 2010 5:05am
Quoting jarroo
Wow . .what a great post

. . .not just for your continuous contributions of putting these posts together in an orderly fashion (no idea how you do that) .

. . .but for the content you have here in this post . ."learn as much as you can, then simplify as much as you can". . .great stuff . .

I should just but quotes on the whole post and repost it.

Rant on, brother . . .rant on . . 1st post material, for sure.


Jim


5000 . . .Rules
Woah. Thanks Jim, BIG compliment coming from you. =)

My biggest epiphany is that I DON'T KNOW what's going to happen. So just trust the PA when I can intuitively understand (aka "feel") what the market is doing.

I am also beginning to understand James' "It's dirt simple folks!"
One Mind, Any Market
  • #75,152
  • Sep 20, 2010 5:40am Sep 20, 2010 5:40am
Hey,

I didnīt take this trade because i hesitated to trade towards that messy area. Size and location are great, a lot of good in this though, congrats if you got it

Happy trading, Nuc
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  • #75,153
  • Sep 20, 2010 8:35am Sep 20, 2010 8:35am
Quoting nuclear62
Hey,

I didnīt take this trade because i hesitated to trade towards that messy area. Size and location are great, a lot of good in this though, congrats if you got it

Happy trading, Nuc
I got it ! Good start to my holiday.

Any Daily PB set ups please post on here so that I can pick them up whilst away from my home PC.

Thanks
"Fail to prepare, prepare to fail."
  • #75,154
  • Sep 20, 2010 8:56am Sep 20, 2010 8:56am
Quoting antgal23
...
Can you s/one point out where they would enter on the PA setup of 2 consecutive matching lows?...
Hey Ant, two matching lows are entered on the break of the lows. This post by James (the two bar high to the far right) illustrates it well.

http://www.forexfactory.com/showpost...14&postcount=5

Hope this helps,

-- Danny
  • #75,155
  • Sep 20, 2010 9:22am Sep 20, 2010 9:22am
Quoting antgal23
Hi all

I think my qn got lost earlier

Can you s/one point out where they would enter on the PA setup of 2 consecutive matching lows?

Thanks
Hey Ant

It would be on the break of the two lows. You can play matching lows/highs just as a pure breakout continuation trade. I personally do this but they must have multiple matching highs/lows they can be strong continuation breakouts

Best
Mike
  • #75,156
  • Edited 9:43am Sep 20, 2010 9:32am | Edited 9:43am
Quoting jarroo
No surprise where the Weekly DBLHC was going on the DJIA30 . . 1st target hit earlier this week.

The news guys always make me laugh, like to today . ."well Larry, looks like the market likes these numbers that came out today . ."

Why can't they say something like this . . ."Well Larry, that Weekly DBLHC hit its FTA now it looks like its going for those Highs at the 10700ish"
. . "That's right Bill we should be getting a reaction there . .if not we may find new Support . .back to you Larry . . "

lol
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Indicators show the past. Price Action "Indicates" the future.
  • #75,157
  • Sep 20, 2010 9:38am Sep 20, 2010 9:38am
Quoting bluetrader
Hey Ant, two matching lows are entered on the break of the lows. This post by James (the two bar high to the far right) illustrates it well.

http://www.forexfactory.com/showpost...14&postcount=5

Hope this helps,

-- Danny
Thanks Danny and Mike!
  • #75,158
  • Sep 20, 2010 10:01am Sep 20, 2010 10:01am
Quoting mbqb11
Hey Pack

You can use a program like logmein to access your computer if you leave it on

I think the gbp/chf is in a lot of traffic and we have a ton of bar highs under us here so I would be cautious of that area first.
Quoting packhorse
Thanks Mike. I will have a look at logmein.

I see the traffic, but I am always on the look out for fixed targets and if the trade gets there I am out and onto the next trade. Those FTAs you have marked are enough to make money out of this.

Thanks for your advice,

All the best.

Very understandable of the challenges in this setup.

But wow . .when the line is clear of the Support (in blue) turning into Resistance (in green) its fun to see where this big headed bearish PB retraced to, 1.5850. There is no doubt that the 1.6000 also played its role.
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Indicators show the past. Price Action "Indicates" the future.
  • #75,159
  • Sep 20, 2010 10:09am Sep 20, 2010 10:09am
Quoting raczekfx
It always has been...

It pays to be early on the trade.
0.9442 was ideal entry (based on smaller TF), I wish I was awake..

Below is one of my friend's early entry on usd/chf from a couple of days ago. It takes a bit of 'preparation' to know when and how to get in, but once you're in, you are not only listening to the music.... but also playing it..
Some might see a falling knife and run, other simply catch the knife and throw it back...
.
Any way you could have your friend say "Hello" over here at FF?
Indicators show the past. Price Action "Indicates" the future.
  • #75,160
  • Sep 20, 2010 10:19am Sep 20, 2010 10:19am
Quoting raczekfx
I don't think, I do it... and it's working well most of the times. The magic word here is: 'the location'.
If you do what every one does, you'll keep walking in circles. There is a good reason, why 9 people out of 10, who look at the same pinbar lose money...

With that thought, Enjoy the weekend!

There is only one Force...

If there is one word that sums up the Rac trade, it is this : Location.

For those of you who study Rac charts (like myself), one thing comes to mind . . Locational Confluence. I sure there is more to it, but that's the main theme . .imo.
Indicators show the past. Price Action "Indicates" the future.
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