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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

  • #77,561
  • Oct 15, 2010 8:05pm Oct 15, 2010 8:05pm
Quoting Pinbar
Ok, hang on a sec.
Sure. I am careful to ask these questions because I don't want anyone to think I am asking for signals but it helps to apply back testing data to live data. Whether the analysis is wrong or right it helps us pratice to think the "correct" way, of course if the analysis is wrong then proper $ management will help us.
  • #77,562
  • Oct 15, 2010 8:37pm Oct 15, 2010 8:37pm
Quoting Atc
The power of the daily ...retrace for continuation long off RN and S which was once R

I have been on this thread since approx Jan/Feb 2010...my learning and trading have come along very well...for those who are just popping in or struggling ---hang in there and spend some time here ----there is great opportunity and some fantastic people to help you ...like you have read ...it just takes time, patience and discipline.

Learn the basics and build from there. It has all been said before but to reiterate find one or two things that work for you...
Very nice Atc . .that 1.4100 sure looked clear, strong . .as it was back in Feb and March.

Great advice to following, Atc . . . I couldn't agree more . . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #77,563
  • Oct 15, 2010 8:51pm Oct 15, 2010 8:51pm


g.
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I believe . . .
  • #77,564
  • Oct 15, 2010 8:57pm Oct 15, 2010 8:57pm
Quoting cprao
Jarroo, Thank you for this post. I have been paying more attention to BUOB/BEOB's and their retracement at swing low/swing High locations.

I had the same question in my mind, do they retrace all the time to the previous bar high/low or any other valid retracemet pont within that BUOB/BEOB.
I did see some that won't retrace and
if they retace after some time, then I see lot of choppy action between BUOB/BEOB and the retracememet bar. I don't know whether such setup is still valid or not ?

I missded couple of setup since they didn't retrace...
Do they all retrace?? . .good question cprao . . . it all depends on the quality of the setup . . meaning is the Outside Bar at a Swing High/Low or in consolidation. . does it have supporting confluences . .etc. Or even if they're not of high quality.

Its just interesting to see these levels, (previous bar High/Lows of Outside Bars), have such a reaction to Price far after they are formed. . .whether they retraced at the time of their formation or not.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,565
  • Oct 15, 2010 9:03pm Oct 15, 2010 9:03pm
Quoting ghous


g.

Nice . .very nice g . .
Indicators show the past. Price Action "Indicates" the future.
  • #77,566
  • Oct 15, 2010 9:07pm Oct 15, 2010 9:07pm
Quoting Atc
GREAT Charts Jim...I Always enjoy your stuff...the news commentators junk is just to funny...They should be saying ..."well it looks like we don't know what the hell is going on with the markets....maybe we should get the Jarroo fella in here"

To you Jim

Thanks Atc . . .but I think I would have to have James16 and/or Mike sitting at the table with me . . . that would be fun as hell . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #77,567
  • Oct 15, 2010 9:18pm Oct 15, 2010 9:18pm
This is EG. I trashed the weekly screen shot by mistake, but I did the same on the weekly as the Monthly.

We get breaks, retests, before break of the next range or reversal to the upper range. This is going on, on all pairs all the time.
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  • #77,568
  • Oct 15, 2010 9:32pm Oct 15, 2010 9:32pm
Quoting Pinbar
This is EG. I trashed the weekly screen shot by mistake, but I did the same on the weekly as the Monthly.

We get breaks, retests, before break of the next range or reversal to the upper range. This is going on, on all pairs all the time.
On the right track, is Mr. Pin bar!



g.
I believe . . .
  • #77,569
  • Oct 15, 2010 9:54pm Oct 15, 2010 9:54pm
Quoting ghous


g.
Sir ghous,

Is that an IPB?

If it is, I want to ask : where is the place to open the position, is in the opening candle on Monday or below the blue line ?

Regrads

wins
  • #77,570
  • Oct 15, 2010 9:55pm Oct 15, 2010 9:55pm
Quoting ghous
On the right track, is Mr. Pin bar!



g.

Thanks Ghous...

I have been all over the tracks, backwards, forwards, laying on them waiting for the train. Blowing fuses all over the place.

It is getting a little better, a little.
  • #77,571
  • Oct 15, 2010 10:15pm Oct 15, 2010 10:15pm
Quoting winsfx
Sir ghous,

Is that an IPB?

If it is, I want to ask : where is the place to open the position, is in the opening candle on Monday or below the blue line ?

Regrads

wins
Hi there,

Yes it's an IPB. I like to trade them at the close of the bar itself, in case of weekly bars it will be at the open of the Monday candle given that we don't have a big gap in wither directions.

g.
I believe . . .
  • #77,572
  • Oct 15, 2010 10:21pm Oct 15, 2010 10:21pm
Quoting ghous
Hi there,

Yes it's an IPB. I like to trade them at the close of the bar itself, in case of weekly bars it will be at the open of the Monday candle given that we don't have a big gap in wither directions.

g.
Oh, I see.

so the blue line is the FTA and as the first profit area, but I found another FTA upper the blue line in 1.5800.

Is this 1.5800 area not perform as the FTA first than the blue line?

wins
  • #77,573
  • Oct 16, 2010 12:52am Oct 16, 2010 12:52am
watchlist for the next week:
cop on daily and weekly. breakout above 60 usd. fta 70 usd.
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meine augen sind die sterne
  • #77,574
  • Oct 16, 2010 12:52am Oct 16, 2010 12:52am
Quoting winsfx
Oh, I see.

so the blue line is the FTA and as the first profit area, but I found another FTA upper the blue line in 1.5800.

Is this 1.5800 area not perform as the FTA first than the blue line?

wins
That blue line actually does roughly line up with the 1.58 so yeah the 1.58 is the FTA and profit (full or partial) taking area.

g.
I believe . . .
  • #77,575
  • Oct 16, 2010 3:40am Oct 16, 2010 3:40am
Mike cheers for your comments they mean a lot ,I have masses of work to do to widen my overall ability and standard to feel confident to go next step to a live account.

Just have to say ,learning what I have learn't so far about this business has been down to J16 YOU and JARROO , hats of to you.
Best
have a nice weekend
D
  • #77,576
  • Oct 16, 2010 3:57am Oct 16, 2010 3:57am
Quoting raczekfx
I have updated this trade.
It's probably the last vid. for a while, I post on the public forum. Sorry.. getting busy lately ..
The video is down where can i watch the video?
  • #77,577
  • Oct 16, 2010 6:22am Oct 16, 2010 6:22am
I am so chuffed Jarroo ,Thanks for your positive comments,

Your interesting point about watching the area where price eventually returns to previous bar highs after a hard break , when BRNs are just above /below ,it is interesting why price does seem to prefer to magnetize
beyond the powerful BRN

have a nice Weekend
D
  • #77,578
  • Oct 16, 2010 7:05am Oct 16, 2010 7:05am
looking at this trade from last week which continued down, we have another pin bar but it has bounced off major support and 1.618 extension so much stronger signal in my eyes

going to be long this if we break above the pin bar on the weekly chart
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  • #77,579
  • Oct 16, 2010 7:28am Oct 16, 2010 7:28am
Quoting jarroo
Do they all retrace?? . .good question cprao . . . it all depends on the quality of the setup . . meaning is the Outside Bar at a Swing High/Low or in consolidation. . does it have supporting confluences . .etc. Or even if they're not of high quality.

Its just interesting to see these levels, (previous bar High/Lows of Outside Bars), have such a reaction to Price far after they are formed. . .whether they retraced at the time of their formation or not.
if the high quality setups retrace the potential of R:R would be very good. Definitely a thing to watch and practice..

Thank you Jarroo.
  • #77,580
  • Oct 16, 2010 7:48am Oct 16, 2010 7:48am
Quoting damien100
Mike cheers for your comments they mean a lot ,I have masses of work to do to widen my overall ability and standard to feel confident to go next step to a live account.

Just have to say ,learning what I have learn't so far about this business has been down to J16 YOU and JARROO , hats of to you.
Best
have a nice weekend
D
You are taking the right steps bud. No reason to lose your shirt while learning. Baby steps.

Have a nice weekend
Mike
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