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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

  • #77,961
  • Oct 20, 2010 12:26pm Oct 20, 2010 12:26pm
Quoting Adilius07
I got an idea!!! ... what if I join some of those services, they can give me an update once a week about some stock, or commodity or something that trades at a interesting level, or in some kind of pattern! So that would be like heads up, and all I will have to do is wait for the J16 PA at those levels?
....
subscribing to a service like that, will weaken your progress, imho.
remember, everybody will plot different 'levels'. so the 'levels' might not suit u personally.
also, plotting the levels is very easy... trading off of it, deciding to trade or not, & managing a trade is the difficult part.
even if the service gives u excellent levels.. if u cant manage trades well, then it's worthless, right? why pay for something if u can do it yourself, for free?

self-reliance.. is the (/one) way towards our progress.
  • #77,962
  • Oct 20, 2010 12:33pm Oct 20, 2010 12:33pm
Quoting supremeChaos
subscribing to a service like that, will weaken your progress, imho.
remember, everybody will plot different 'levels'. so the 'levels' might not suit u personally.
also, plotting the levels is very easy... trading off of it, deciding to trade or not, & managing a trade is the difficult part.
even if the service gives u excellent levels.. if u cant manage trades well, then it's worthless, right? why pay for something if u can do it yourself, for free?

self-reliance.. is the (/one) way towards our progress.
maybe you right SC. I just never really tried any of those. If it possess a risk of slowing my progress then I really don't need any of those...

So look, what I made to myself lately. I can basically turn off my PC, come here at saturday make my scans send a waiting order and leave for the next saturday!!! Lol, is this normal?!?! Really my trading has changed so much...
  • #77,963
  • Oct 20, 2010 12:47pm Oct 20, 2010 12:47pm
shish! i think i might have found Rac's cave, dnt tell him ........
trading is getting more controlled
cheers guys
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Simplicity is the key to success
  • #77,964
  • Oct 20, 2010 12:52pm Oct 20, 2010 12:52pm
Nice squeezy

Could you tell us the reason for the entry please?
  • #77,965
  • Oct 20, 2010 1:04pm Oct 20, 2010 1:04pm
eur/cad pin on the h4. closing below 1.43. swing high.
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meine augen sind die sterne
  • #77,966
  • Oct 20, 2010 1:07pm Oct 20, 2010 1:07pm
Quoting Adilius07
I got an idea!!! Please don't laugh. But look, I know there are some services that provide some free weekly analysis of some charts (opportunities). Some do it through fundamentals others throught technicals...

So I was thinking... what if I join some of those services, they can give me an update once a week about some stock, or commodity or something that trades at a intersting level, or in some kind of pattern! So that would be like heads up, and all I will have to do is wait for the J16 PA at those levels?

So... anyone knows of any good free...
Hi Ad,
well if you want to pay this kind of service I can do for u lol.Very easy money for them.If u want spend money on this so just spend on live trades and don't pay for their analyses.Those live trades bring u more.
Anyway if u still think about it just send me contract via email lol.

P.S. Ad this is not right way be good in this game.

FX
  • #77,967
  • Oct 20, 2010 1:09pm Oct 20, 2010 1:09pm
Quoting squeezy
shish! i think i might have found Rac's cave, dnt tell him ........
trading is getting more controlled
cheers guys
I had the 1.57 level marked as an area of interest, but with the recent USD strength, and no better long term P/A off this area, I couldn't see a reason to go long. What made you decide to go long here (other than the location)?

Another thing, look at the strong move for the USD over the last two days. Looks like lots of indecision. I would still favor on the side of USD strength, I almost feel like there are people playing chicken, who will be the last to bid the USD weaker before everyone piles in against them. But I could be very wrong, and that is why I wait for PA to show me the way.

Thoughts?
  • #77,968
  • Oct 20, 2010 1:16pm Oct 20, 2010 1:16pm
Quoting john225
Nice squeezy

Could you tell us the reason for the entry please?
Hi John,
I am not squeezy but check your highier TFs/What can u see?

FX
  • #77,969
  • Oct 20, 2010 1:23pm Oct 20, 2010 1:23pm
Quoting john225
Nice squeezy

Could you tell us the reason for the entry please?
no problem John,
its touch trade with a little bit of twist but its best I digress as this thread is strictly J16PA .... what you have to do is master finding support/resistance levels well and sit back and watch how price reacts to those levels(can u draw s/r levels & watch the rxn without trading for a wk plus, im sure b4 the wk runs out ,ull see a lovely PA bar on atleast 1)
price moves up, down and sideways ....... after staring at price for a while ull have ideas of what itll do around ppzs.
just keep staring at ur charts until when u close ur eyes to sleep, u see nothing but charts ........ lol
it takes time John, keep at it & success is urs
cheers
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Simplicity is the key to success
  • #77,970
  • Oct 20, 2010 2:09pm Oct 20, 2010 2:09pm
Quoting Fxfighter
Hi Ad,
well if you want to pay this kind of service I can do for u lol.Very easy money for them.If u want spend money on this so just spend on live trades and don't pay for their analyses.Those live trades bring u more.
Anyway if u still think about it just send me contract via email lol.

P.S. Ad this is not right way be good in this game.

FX
No no I meant for free only If you have such a free service I would join
  • #77,971
  • Oct 20, 2010 2:10pm Oct 20, 2010 2:10pm
Hi Everyone,

Sorry for going off topic on this wonderful thread. I have been following it for 2-3 weeks now.

Can any1 help me with getting a charting package (MT4 does not have H2 and H3) which shows H2 and H3 charts with Daily NY Close (I mean the daily candle should end according to NY end session time) ?

MT5 has H2, H3 - but it has fewer currencies and the daily candle does not close according to NY session.

Thanks and Sorry again.


0908
  • #77,972
  • Oct 20, 2010 2:13pm Oct 20, 2010 2:13pm
Quoting Adilius07
...
So look, what I made to myself lately. I can basically turn off my PC, come here at saturday make my scans send a waiting order and leave for the next saturday!!! Lol, is this normal?!?! Really my trading has changed so much...
wow.
ugot too much time on your hands now.
if u feel comfortable with it, it's all that matters. & nothing to worry about.

Quoting squeezy
shish! i think i might have found Rac's cave, dnt tell him ........ http://cdn.forexfactory.com/images/s...m/big_grin.gif...
Quoting squeezy
no problem...
are u kidding me?!!
u have been inside the cave for some time now
  • #77,973
  • Oct 20, 2010 2:18pm Oct 20, 2010 2:18pm
Quoting supremeChaos
wow.
ugot too much time on your hands now.
if u feel comfortable with it, it's all that matters. & nothing to worry about.



are u kidding me?!!
u have been inside the cave for some time now
shish! not so loud Supreme.... Rac might hear and sniff me out
Simplicity is the key to success
  • #77,974
  • Oct 20, 2010 2:23pm Oct 20, 2010 2:23pm
Quoting squeezy
shish! not so loud Supreme.... Rac might hear and sniff me out
LOL.
dont worry, i believe his cave can accommodate several people

Quoting unlv_tj
I had the 1.57 level marked as an area of interest, but with the recent USD strength, and no better long term P/A off this area, I couldn't see a reason to go long. What made you decide to go long here (other than the location)?
Thoughts?
actually, there were PA setups in squeezy's charts.
see his first chart. (gbpusd H1)
there was a 3-bar PB off the 1.5640ish lows, then another PB (6th bar from the left). u could've traded off of those 2.

remember, with touch trades u have a bias & u anticipate future PA.
in this case, squeezy thinks price will bounce off of his PPZ, so he is long-bias.
if he is long-biased, & if price does go in his favor, price, along the way, will inevitably form a bullish PA setup &/or bullish bars forming no specific PA setup (just plain bullish bars).
with touch trading u are simply getting in ahead of most.
the key is timing &/or stop loss placement.

Hope this helps TJ
  • #77,975
  • Oct 20, 2010 2:24pm Oct 20, 2010 2:24pm
Quoting supremeChaos
wow.
ugot too much time on your hands now.
if u feel comfortable with it, it's all that matters. & nothing to worry about.
SC, I love the idea yes. Calm trading! But I don't know if it feels comfortable yet... I always thought trading is when my legs are shaking, heart is pounding, teeth are busy chewing nails... etc...
  • #77,976
  • Oct 20, 2010 2:32pm Oct 20, 2010 2:32pm
Quoting forex0908
Hi Everyone,
....
Can any1 help me with getting a charting package (MT4 does not have H2 and H3) which shows H2 and H3 charts ...?
...
Hello 0908,
use an MT4 indicator --- period converter... to create H2,H3 charts

try these links
http://www.forexfactory.com/showthread.php?t=206301

http://www.forexfactory.com/showpost...ostcount=15191
http://www.forexfactory.com/showpost...ostcount=15193
http://www.forexfactory.com/showpost...ostcount=54846
http://www.forexfactory.com/showpost...ostcount=63320

Hope this helps
  • #77,977
  • Oct 20, 2010 2:42pm Oct 20, 2010 2:42pm
Quoting squeezy
shish! i think i might have found Rac's cave, dnt tell him ........
trading is getting more controlled
cheers guys
Nice one Squeezy ... did you reverse your longs for a short
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  • #77,978
  • Oct 20, 2010 2:51pm Oct 20, 2010 2:51pm
Quoting lovejoy80
Nice one Squeezy ... did you reverse your longs for a short
hey Lovejoy80 my amigo, uve been m.ia.
something like that, had another position ... so closed that & now looking for next target
notice the size of that bar that hit my 1st tp, pretty big ...... wldnt want to reverse that
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Simplicity is the key to success
  • #77,979
  • Oct 20, 2010 3:03pm Oct 20, 2010 3:03pm
while in Rac's cave 2 days ago , i saw him take a couple of trades ..... this is one i liked cos of the reward, if we make it there ,lol
this is kaboom trade, its self explanatory
ouch! he's coming ......... 1sec
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Simplicity is the key to success
  • #77,980
  • Oct 20, 2010 3:24pm Oct 20, 2010 3:24pm
Quoting Pinbar
The term PPZ is an area that has acted as both Support & Resistance.

I drew this only on the daily chart, just to give you an idea but, you may want to start on the monthly and work your way down to the daily or H4 time frame using different color lines, so that you remember the large time frame lines will be more solid.

Hope this helps.


Just a roughly drawn chart to give you the idea of what we are trying to do.
There may well be more PPZ not on these charts, I am just trying to show you what I mean.

WOW . .great post, Pb . . . . .everyone should practise making a chart like this . .with the confluences.

Check out your first posts in May and April and compare them to this one, Pb. . . you're progressnig faster than you think. . great job.


Jim
Indicators show the past. Price Action "Indicates" the future.
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