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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

  • #77,861
  • Oct 19, 2010 4:44pm Oct 19, 2010 4:44pm
yep well said Danny Thanks

I use FXpro which is a 5pm est close time. IBFX is 7pm est right now.

I just like to get that 5pm close as it fits my belief of the unofficial close as I call it.

Mike

Quoting bluetrader
From what I can tell, it looks like IBFX (maybe James can clarify). In my opinion, I don't think there is one feed more reliable than others. There will be times when you get a great bar and others don't.

Remember, all these feeds are generally the same except for the server time. We care that price reacts strongly at important areas of support/resistance. These strong reactions manifest themselves into pin bars, outside bars, etc. That's it. Don't worry about catching every bar because there is so much more to it than just the bar. It's about...
  • #77,862
  • Oct 19, 2010 6:48pm Oct 19, 2010 6:48pm
Quoting HanSolo
PB, just one question: What do you mean by 'monthly con' on your charts? Are those the borders of the rectangles you marked the monthly ranges with?

Just the monthly consolidation.

Yeah, I drew the rectangles and sort of boxed in the con, then put the lines on top & bottom. sometimes, the boxes seem to be on top of each other.
  • #77,863
  • Oct 19, 2010 6:54pm Oct 19, 2010 6:54pm
Quoting alifari
Hi Pinbar,

I went through your Monthly PPZ Chart and found it quite interesting. However, I have noticed that the IB's you mentioned as price action are actually Sunday Bar's, which IBFX have on their platform, which I think should not be considered as buy/sell trigger.

Thanks,

Alifari

Yes, I recently opened an IBFX account and did not realize they have a Sunday bar.
  • #77,864
  • Oct 19, 2010 7:51pm Oct 19, 2010 7:51pm
Anyone trade daily PB on EURCAD?
It is right on strong PPZ and 50% ret
PinBar/Supreme Chaos, i have drawn several lines that look to me as PPZ. Orange is minor, Red is major.
Please let me know if i haven't drawn them properly.
Also, i would like to know if you guys would have entered on the break of PB or the IB on H4? Please advise.
BTW, if you don't mind me asking, does PPZ have to be flips (resistance TURN support) or can they simply be resistance OR support ALONE.
Thanks mate
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  • #77,865
  • Oct 19, 2010 7:54pm Oct 19, 2010 7:54pm
Uh, one more thing, if this is the kinda setup you guys would take, where would you set your targets? They all look very tight to me. Thanks again
  • #77,866
  • Oct 19, 2010 8:16pm Oct 19, 2010 8:16pm
Quoting leelar
Since I am getting good feedback, don't want to let the opportunity slip away.

Back to the trade, here was my thought:

There are two Supports I saw, S1 and S2.(I could be totally wrong, still new and learning). Since the double low bars(10/12, 10/13) was broken yesterday (10/18). I am seeing it will go south to test S2. Therefore I set my TP to S1, and plan to lock in half of the profit then let the 2nd half run with Trial Stop.

Does my analysis make sense at all?

Thanks Pinbar, SC everyone!

Attachment
It broke through S2 @ 127.76. My target is hit, I took the profit. Please some one tell me if I am thinking the right way or not. I don't know enough for the next move. I am thinking to wait to see if it can get to the previous low @126.64 on 5/25/2010. I have to see how it goes from there.

Please advise and would be greatly appreciated.
  • #77,867
  • Oct 19, 2010 10:00pm Oct 19, 2010 10:00pm
I like this setup. I would like an opinion on an entry point. Would the check mark be good, off the retrace down to the previous bar? Or, due to the consolidation would it be best to wait for the break of the Boub? Thanks.
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  • #77,868
  • Oct 19, 2010 10:07pm Oct 19, 2010 10:07pm
Quoting spookie94
I like this setup. I would like an opinion on an entry point. Would the check mark be good, off the retrace down to the previous bar? Or, due to the consolidation would it be best to wait for the break of the Boub? Thanks.
Hey Spookie I think you have a good idea if this is going to "hold"

I am weary of the range we are in and the BUOB not being able to close outside that box. If that is a tip off and this is the retracement you will have nailed it. You can get a tight stop and see what happens if these are the plays you like to make
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  • #77,869
  • Oct 19, 2010 10:09pm Oct 19, 2010 10:09pm
Quoting leelar
It broke through S2 @ 127.76. My target is hit, I took the profit. Please some one tell me if I am thinking the right way or not. I don't know enough for the next move. I am thinking to wait to see if it can get to the previous low @126.64 on 5/25/2010. I have to see how it goes from there.

Please advise and would be greatly appreciated.
Hey lee

I am trying to understand why you sold to give some feedback, but I have looked and can't find the reason. Care to expand?

Thanks
Mike
  • #77,870
  • Oct 20, 2010 12:34am Oct 20, 2010 12:34am
on a weak day for stocks, coca-cola broke the 60 usd. wait for a pull-back and then long.
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meine augen sind die sterne
  • #77,871
  • Oct 20, 2010 12:36am Oct 20, 2010 12:36am
Greetings,

First of all, thank you for starting and maintaining this great thread.
I am looking to learn more about price action set up from the senior traders in this thread.

I just started a demo account and am eager to try the set ups taught here.
One of the set up is the DBLHC that I spotted in the 4H chart of NZD/USD. It is off of a 50% Fib retrace and also a round number 0.7450.

I am wondering if my understanding about DBLHC is correct?
Also, I noticed the BEOB on the daily chart for a short set up.

The 1st scenario that I could think of at the moment is that price might retrace upwards then starts to fall, in which case, a short would be a good thing. The 2nd scenario in my mind is that this fall is a retrace of the uptrend on the daily and the DBLHC on the 4H is a sign of reversal to the main trend, which would be good for long.

Considering the daily chart, wouldn't the 2nd scenario be better?

Any thoughts would be appreciated.

Regards,
MG
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o que será, será
  • #77,872
  • Oct 20, 2010 12:45am Oct 20, 2010 12:45am
Quoting Greenhaze
The usd bulls just woke up and are very hungry Anyone watching Aud/Cad? .... BEOB & strong res at 1.00 BRN. Some very strong moves occured today but this one is on the radar for tomorrow

Cheers guys
that's a big trend to be fighting against....might be easier this way?
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  • #77,873
  • Oct 20, 2010 12:47am Oct 20, 2010 12:47am
Quoting mbqb11
Hey Spookie I think you have a good idea if this is going to "hold"

I am weary of the range we are in and the BUOB not being able to close outside that box. If that is a tip off and this is the retracement you will have nailed it. You can get a tight stop and see what happens if these are the plays you like to make
Mike,
What do you say about this;would it pass for a good consolidation breakout sell trade? I am considering putting a sell stop below the BRN 80.00 which also is a Daily Tf PPZ. Pls do throw in some light here for me. Thanks.
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  • #77,874
  • Oct 20, 2010 12:49am Oct 20, 2010 12:49am
Quoting Pinbar
Jarroo is back, I was getting worried that you were sick.

Probably just busy.


Bemac is kindly teaching me about ICCE.

What fun.....Still J16 is the main thing and I will keep that in perspective.

I missed this post, Pb . . . I had a long weekend with family and friends.
Indicators show the past. Price Action "Indicates" the future.
  • #77,875
  • Oct 20, 2010 12:57am Oct 20, 2010 12:57am
Quoting jeffokes
Mike,
What do you say about this;would it pass for a good consolidation breakout sell trade? I am considering putting a sell stop below the BRN 80.00 which also is a Daily Tf PPZ. Pls do throw in some light here for me. Thanks.

Yes, I would say it would pass as a consolidation breakout. I would wait for some Bearish PA at the 80.00/80.50 for confirmation. But a touch trade at these levels is possible.
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Indicators show the past. Price Action "Indicates" the future.
  • #77,876
  • Edited 1:29am Oct 20, 2010 1:13am | Edited 1:29am
I am seeing this as an EG Daily tf possible valid pb. It is coming off BRN 0.88000. The location worries me I must say - it seems to be in a consolidation environment. Please seniors what do you guys say?

Senoir Jarroo Thank you soo much for the above response! Any word on this for me please?
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  • #77,877
  • Oct 20, 2010 1:38am Oct 20, 2010 1:38am
Quoting Mist Gun
Greetings,

First of all, thank you for starting and maintaining this great thread.
I am looking to learn more about price action set up from the senior traders in this thread.

I just started a demo account and am eager to try the set ups taught here.
One of the set up is the DBLHC that I spotted in the 4H chart of NZD/USD. It is off of a 50% Fib retrace and also a round number 0.7450.

I am wondering if my understanding about DBLHC is correct?
Also, I noticed the BEOB on the daily chart for a short set up.


Welcome Mist Gun . .btw...

I would like the 2nd scenario if that DBLHC was bigger and at the .7400, which was strong Resistance and now could be turning into strong Support.

That small DBLHC is reacting well, tells me that the uptrend is still pretty strong. I like the retest of the .7500 with some bearish PA.

Welcome Mist Gun . .btw . .
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Indicators show the past. Price Action "Indicates" the future.
  • #77,878
  • Oct 20, 2010 1:48am Oct 20, 2010 1:48am
Quoting jarroo
I would like the 2nd scenario if that DBLHC was bigger and at the .7400, which was strong Resistance and now could be turning into strong Support.

That small DBLHC is reacting well, tells me that the uptrend is still pretty strong. I like the retest of the .7500 with some bearish PA.

Welcome Mist Gun . .btw . .
Thank you, Jaroo.

Pardon my inexperience, but what does it mean when you said that you are expecting a re-test of 0.7500 with some bearish PA? Does it mean you would look to short at 0.7500?
o que será, será
  • #77,879
  • Oct 20, 2010 1:54am Oct 20, 2010 1:54am
Quoting jeffokes
I am seeing this as an EG Daily tf possible valid pb. It is coming off BRN 0.88000. The location worries me I must say - it seems to be in a consolidation environment. Please seniors what do you guys say?

Senoir Jarroo Thank you soo much for the above response! Any word on this for me please?
I agree jeffokes . . looking at the Weekly . .Price looks to be winding up tight in consolidation. Any Price Action within this area would have to deal with alot of traffic. A breakout . .on either side of this consolidation .. . should present an opportunity . .
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Indicators show the past. Price Action "Indicates" the future.
  • #77,880
  • Edited 2:01am Oct 20, 2010 1:57am | Edited 2:01am
Quoting jarroo
I agree jeffokes . . looking at the Weekly . .Price looks to be winding up tight in consolidation. Any Price Action within this area would have to deal with alot of traffic. A breakout . .on either side of this consolidation .. . should present an opportunity . .
Thank you soooo much Jarroo. I was patiently waiting for your reply and I can see you have really put in so much into it. Folks like you and the other seniors make this thread the best around with your kindness. May God reward you all with good amount of pips!!!
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