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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

  • #75,441
  • Sep 23, 2010 1:46pm Sep 23, 2010 1:46pm
anyone thinkin goin long on this one?
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  • #75,442
  • Sep 23, 2010 1:52pm Sep 23, 2010 1:52pm
[quote=podgy;4044631]anyone thinkin goin long on this one?
oops wrong fibs
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  • #75,443
  • Sep 23, 2010 1:54pm Sep 23, 2010 1:54pm
Quoting Chelski
Would anyone commenton this?

80 BRN has held and also formed a DBLHC above this level.
Stopping close to resistance. A break of this bar could see 80.90 or as FTA?
On FXCM feed we also had a small pin closing over 80.
Hey Chelski

Yeah I think the setups are so small and didn't create enough space away from previous run meaing were trading right into a boxed area and another PPZ. Makes it more difficult to manage and trade. I think of all the aud action we saw today there were better ones(like the eur/aud) to be waiting to get involved with. With this one you have nothing more then really a bullish bar in an uptrend, no real confluence.

Just how I see it
Mike
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  • #75,444
  • Sep 23, 2010 1:57pm Sep 23, 2010 1:57pm
Quoting podgy
anyone thinkin goin long on this one?
Hey Podgy

As of right now we have a very weak looking pin and only because the tail is there and open and close are in the prior bar do we consider it one. But we want to see the nose stick out far from the previous low, and personally I want more conviction in the close. Look at the 82 PPZ level and if price could close strongly above it , then the look would be much stronger in my eyes

Best
Mike
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  • #75,445
  • Sep 23, 2010 2:00pm Sep 23, 2010 2:00pm
oops wrong fibs
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  • #75,446
  • Sep 23, 2010 2:04pm Sep 23, 2010 2:04pm
Quoting mbqb11
Hey Podgy

As of right now we have a very weak looking pin and only because the tail is there and open and close are in the prior bar do we consider it one. But we want to see the nose stick out far from the previous low, and personally I want more conviction in the close. Look at the 82 PPZ level and if price could close strongly above it , then the look would be much stronger in my eyes

Best
Mike
thanks Mike
  • #75,447
  • Sep 23, 2010 2:13pm Sep 23, 2010 2:13pm
Hi...want to throw up this daily chart of AUD/NZD. Wondering if this is a PB and if anyone would consider trading it? I'm guessing that the nose isn't long enough for this to be an A grade PB especially given it is at a swing high in an uptrend but would love feedback.
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  • #75,448
  • Sep 23, 2010 3:23pm Sep 23, 2010 3:23pm
Not the best PB in the world and it's not right to clutter the thread with posts with uncompleted PA bars as we have a whole day before the bar completes.

But i may not have time tomorrow to post here so pardon me please.

If this bar could close near 1119 or fall further down to make BEOB. I am sure that next week will be a RED one cause market is rising for 3 weeks now and we could expect a little retrace.

Minor FTA @ 1100 then between the fibs then the TL and 1035 in the end.

Now it could mean a decent Bearish rally in EU GU AU and UC.

But nothing is guaranteed.
.
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  • #75,449
  • Sep 23, 2010 3:24pm Sep 23, 2010 3:24pm
Looking at the Bear Pb on Daily, price generally near it's lowest point .monthly is developing a Bull PB only a few days to close month .
also there is a trendline down crossing at 1.4000 which may be a consideration

So not sure but if price closes below the 1.4000 BRN it would make me more confident.
Any additional views
D
  • #75,450
  • Sep 23, 2010 3:42pm Sep 23, 2010 3:42pm
hi all,
just wanted to share a 'touch' type trade, with other factor also. I must admit i got lucky as it was triggered when i was away... but always nice when they fire off like this I think the chart explains better..
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  • #75,451
  • Sep 23, 2010 3:57pm Sep 23, 2010 3:57pm
Would the setup on the E/G be considered a 2 day pin bar.

If so, off the 365 ema, close below 85 and the break would be below the 150 ema.

Looking at possibly shorting on the break of the 84.50 and the first FTA around 84.00
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  • #75,452
  • Sep 23, 2010 4:02pm Sep 23, 2010 4:02pm
Quoting mbqb11
I like this one too J
Hey Mike,
My thoughts about this pair are bullish, yesterday price broke out of a symmetrical triangle and closed above the weekly PPZ @ BRN 14000. I want to look for PA confirming the BRN 14000 as support now. Could you please comment on this one, Mike.

May the force be with you.
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Pipcrawler
  • #75,453
  • Sep 23, 2010 4:04pm Sep 23, 2010 4:04pm
Quoting xmzhang
Hey Mike,
My thoughts about this pair are bullish, yesterday price broke out of a symmetrical triangle and closed above the weekly PPZ @ BRN 14000. I want to look for PA confirming the BRN 14000 as support now. Could you please comment on this one, Mike.

May the force be with you.
Hey Zhang

Yes this could now also turn to support at the BRN. My order was pulled after it never triggered, but at the time the 1.4 was acting as resistance as designated by the big beob CLOSING below the 1.4. we can also now use this area to look for potential bullish PA as well. I use these areas both ways in my trading

Best
Mike
  • #75,454
  • Sep 23, 2010 4:34pm Sep 23, 2010 4:34pm
Quoting slade1986
Would the setup on the E/G be considered a 2 day pin bar?

If so, off the 365 ema, close below 85 and the break would be below the 150 ema.

Looking at possibly shorting on the break of the 84.50 and the first FTA around 84.00

Absolutely . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #75,455
  • Sep 23, 2010 4:43pm Sep 23, 2010 4:43pm
Quoting mbqb11
Hey Zhang

Yes this could now also turn to support at the BRN. My order was pulled after it never triggered, but at the time the 1.4 was acting as resistance as designated by the big beob CLOSING below the 1.4. we can also now use this area to look for potential bullish PA as well. I use these areas both ways in my trading

Best
Mike
Hey Mike,
On the 4H-TF price pierced the BRN 14000 but retreated quickly above the 14000 again thus generating a spring (expression used by R. Wyckoff) which should in theory bring price back near the 14050. I've noticed that these one bar false breakouts work mostly fine according Wyckoff's theory.

May the force be with you.
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Pipcrawler
  • #75,456
  • Sep 23, 2010 4:45pm Sep 23, 2010 4:45pm
Quoting ppfx
Thanks Jim. It means a lot to me when said from a senior like you. oh and im not a sir, im just a 20 y.o. boy


20??? . . . . . . keep progressing like the way you've been going and you'll always be a "Sir" to me. . .
Indicators show the past. Price Action "Indicates" the future.
  • #75,457
  • Sep 23, 2010 4:46pm Sep 23, 2010 4:46pm
Quoting xmzhang
Hey Mike,
On the 4H-TF price pierced the BRN 14000 but retreated quickly above the 14000 again thus generating a spring (expression used by R. Wyckoff) which should in theory bring price back near the 14050. I've noticed that these one bar false breakouts work mostly fine according Wyckoff's theory.

May the force be with you.
Hey Zhang

The pending order I had was not that one, as that bar could not close below the BRN(one of my rules). The hour later price was able to close below, but then the following bar could never break the low of the BEOB, thus I am able to avoid a potentially false sell here.

Take care
Mike
  • #75,458
  • Sep 23, 2010 4:53pm Sep 23, 2010 4:53pm
Quoting mbqb11
Hey Zhang

The pending order I had was not that one, as that bar could not close below the BRN(one of my rules). The hour later price was able to close below, but then the following bar could never break the low of the BEOB, thus I am able to avoid a potentially false sell here.

Take care
Mike
Thanx Mike.http://cdn.forexfactory.com/images/icons/icon10.gif
Pipcrawler
  • #75,459
  • Sep 23, 2010 5:03pm Sep 23, 2010 5:03pm
I'm struggling to find much wrong with tnis one..
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Anything can happen.
  • #75,460
  • Sep 23, 2010 5:04pm Sep 23, 2010 5:04pm
Quoting ddinnov
I'm struggling to find much wrong with tnis one..

Swing low of that bullish PB could be much lower . . think Space . .. traffic..
Indicators show the past. Price Action "Indicates" the future.
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