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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

  • #78,581
  • Oct 27, 2010 4:51am Oct 27, 2010 4:51am
Quoting geniusztc
is it a good pinba on eu's 4h chart ???
anyone have any ideas ??? thank you
It's a beauty imo ;] It si at good support and 1.3800 round number should protect it really well. I am in from h1 pinbar but was almost stoped out at breakeven with my stop below the 1.3800.
  • #78,582
  • Oct 27, 2010 4:54am Oct 27, 2010 4:54am
Quoting jarroo
It was the expectation not the rule. When ever I see Price break through a strong Resistance level my expectation is that level will now act as strong Support. If this expectation is not met . .it will revert back to Resistance.
Jarroo, just great to hear you saying this, that's also my thinking proces concerning S/R levels. I've this nice example on the lower TF of G-U of today. Refering to attachement and the RNB @ 15800:
A: resistance
B: expected resistance flips to expected support
C: expected support flips to expected resistance
D: expected resistance flips to expected support
E: expected support is now indeed support
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Pipcrawler
  • #78,583
  • Oct 27, 2010 4:56am Oct 27, 2010 4:56am
Quoting geniusztc
is it a good pinba on eu's 4h chart ???
anyone have any ideas ??? thank you
most likely this is an unpopular buy, but i think it's a good buy.
my minor trade got stopped out ,after about 15minutes, to the pip (1.3798), before it shot up to where it's now
might re-enter it if i get a good price.
it's probably time to visit 1.4000-1.4150 again(& onwards)

based on your question, i suggest u get good at PPZs plotting first.
  • #78,584
  • Oct 27, 2010 5:00am Oct 27, 2010 5:00am
Quoting Greenhaze
It's a beauty imo ;] It si at good support and 1.3800 round number should protect it really well. I am in from h1 pinbar but was almost stoped out at breakeven with my stop below the 1.3800.
i put my SL @the pinba's 61.8%,i am afraid of my long position .beacuse the bearish seems strong . or i should get a few pips and get away.
A chart helps those who can read it.
  • #78,585
  • Oct 27, 2010 5:01am Oct 27, 2010 5:01am
Quoting Greenhaze
It's a beauty imo ;] It si at good support and 1.3800 round number should protect it really well. I am in from h1 pinbar but was almost stoped out at breakeven with my stop below the 1.3800.
Must have been a very tight stop, on my chart price didn't go below 796 after the PB. I'am still in this one.
Pipcrawler
  • #78,586
  • Oct 27, 2010 5:07am Oct 27, 2010 5:07am
breakout pullback
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  • #78,587
  • Oct 27, 2010 5:18am Oct 27, 2010 5:18am
Quoting geniusztc
i put my SL @the pinba's 61.8%,i am afraid of my long position .beacuse the bearish seems strong . or i should get a few pips and get away.
I think it could be a runner ...there is space on the left and the location is very good aswell. I took some from the table on h1 pin and i keep my stop just under the eyes of the 4h pin and i am willing to traiil my stop from there like Mike is doing it. If i would play 4h pinbar i would take some of the table at 1.3870 area.
  • #78,588
  • Oct 27, 2010 5:23am Oct 27, 2010 5:23am
Quoting Greenhaze
I think it could be a runner ...there is space on the left and the location is very good aswell. I took some from the table on h1 pin and i keep my stop just under the eyes of the 4h pin and i am willing to traiil my stop from there like Mike is doing it. If i would play 4h pinbar i would take some of the table at 1.3870 area.
If i would play 4h pinbar i would take some of the table at 1.3870 area

cheersthank you for your advise . good luck to you and myself .
A chart helps those who can read it.
  • #78,589
  • Oct 27, 2010 5:45am Oct 27, 2010 5:45am
I
Could like to thank all the posters of FF and mostly the James16 thread, among them JAMES16,Jaroo, Ghous,mbqb11,Nasir among the many. The list is long.
i didnt know that one day i will be able to analyze charts in my own way the way i am doing right now. What i did i started an account with 100$ on 21 Oct 2010. My aim was to blow it with overlevarage but using only price action,Fibonnaci, S&R and some MAs i learned from Phillip Nel. To my surprise i have made almost 300% within that one week. I cant belief and i dont trade now with emotions as i used to trade. You can check my journal on the trades i made and the ones running now.
THANK YOU, THANK YOU,THANK YOU ALL
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  • #78,590
  • Oct 27, 2010 5:49am Oct 27, 2010 5:49am
Quoting geniusztc
i put my SL @the pinbar's 61.8%,i am afraid of my long position .because the bearish seems strong . or i should get a few pips and get away.
Quoting geniusztc
..
thank you for your advise . good luck to you and myself .
ni hao,
your posts dont sound too good. they make me worry.

i highly suggest u study this thread. if u keep on following other people's trades/advices without knowing their trade rationale & trading&risk profile
& without being 'in sync' with them.... your trades will eventually disappoint u.
self-reliance is the best way forward.

u dont have to reply now. take this post as my way of looking after your trading future. get back to this post after a year & tell me what u think by then.
i believe u are Chinese, & if so, u should know the value of patience & long-term thinking.

--------------------
if we study & practice well, this is what most of us will eventually say
Quoting Edonya
I
...i didnt know that one day i will be able to analyze charts in my own way the way i am doing right now.
awesome.
be careful with your leverage, dont get overly aggressive.
  • #78,591
  • Oct 27, 2010 5:50am Oct 27, 2010 5:50am
Working on KISS


GBP/CHF H4


I would like to see this bar close as a Jarroo Special.

I know it is close to the BRN, I want to test the FTA.
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  • #78,592
  • Oct 27, 2010 6:04am Oct 27, 2010 6:04am
Quoting jarroo
Anyone see an opportunity here? . . we'll let PA show us the way.
That clears up part of my question here. Thx.

Quoting mbqb11
Well trend matters but it is in relation to what price has been doing. Eur/cad was trending VERY strong, and forms a small BEOB at a swing high. We must think QUICK to b/e if we dare try to pick a top with such a small bar with very little confluence. That is as deep an analysis I would take with such a bar / setup personally

Best
Mike
Thanks, Mike. While backtesting lately I found that even bars like these often work out if, like you said, you move your stop to BE pretty fast. Still most of the time one probably ends up with Stop@BE.
I was just wondering why Ghous' AUDCAD and EURCAD were considered so different by the advanced traders in terms of the trend. For me both don't seem so different (EURCAD a little steeper but with more pronounced consolidation in it). But I guess that comes with experience and a slightly different evaluation of BEOB/BUOB and PBs. Hope to be there soon.
Thanks J16, Sam Seiden, Udine and Jacko
  • #78,593
  • Edited 9:59am Oct 27, 2010 6:11am | Edited 9:59am
Buy stop at yellow line
Stop loss at red line
Take profit at green line
Break Even at 1.5900

Comments?

Didn't trigger...
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  • #78,594
  • Oct 27, 2010 6:18am Oct 27, 2010 6:18am
I'm a newb, and I was hoping I could get some of your thoughts about these monthly bars since we are nearing the end of the month. If both of these close as pinbars, what do you guys think about these:

USD/CHF:
*Through the all-time low (according to my chart)
*Divergence (not sure if I'm drawing that right)

AUD/USD:
*Through the all-time high (according to my chart)
*Divergence (again, not sure if I'm drawing that right)
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  • #78,595
  • Edited 6:54am Oct 27, 2010 6:20am | Edited 6:54am
Quoting HanSolo
...
I was just wondering why Ghous' AUDCAD and EURCAD were considered so different by the advanced traders in terms of the trend. For me both don't seem so different (EURCAD a little steeper but with more pronounced consolidation in it). But I guess that comes with experience and a slightly different evaluation of BEOB/BUOB and PBs. Hope to be there soon.
yes, u could say they look pretty similar, but structurally they look a bit different.
both charts have hit their respective FTAs. (see the charts)
  • #78,596
  • Oct 27, 2010 6:26am Oct 27, 2010 6:26am
Quoting supremeChaos
ni hao,
your posts dont sound too good. they make me worry.

i highly suggest u study this thread. if u keep on following other people's trades/advices without knowing their trade rationale & trading&risk profile
& without being 'in sync' with them.... your trades will eventually disappoint u.
self-reliance is the best way forward.

u dont have to reply now. take this post as my way of looking after your trading future. get back to this post after a year & tell me what u think by then.
i believe u are Chinese, & if so, u should know...
Thank you
I had done that intentionally for that account but i have an account which i follow strict money management and even this one one the far i have gone i will follow strict money managenent. I have proved myself that PA works and works great.
  • #78,597
  • Oct 27, 2010 6:41am Oct 27, 2010 6:41am
ZINC breakout pullback
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  • #78,598
  • Oct 27, 2010 6:51am Oct 27, 2010 6:51am
Quoting relyt
... we are nearing the end of the month. If both of these close as pinbars, what do you guys think about these:
...
relatively small bars, but may have potential.
personally, im not that strict with plotting divergence, so i'll consider those ok.

still depends on how the monthly closes.

Quoting Johnsie
Entry at yellow line
...
Comments?
im not sure...
is this a buy stop entry? at 1.5879?
reasons for entry?
it's a bit unclear based simply on that chart.
  • #78,599
  • Oct 27, 2010 6:55am Oct 27, 2010 6:55am
If we are looking at monthly bars, GBP/CHF looks big enough.
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  • #78,600
  • Oct 27, 2010 7:01am Oct 27, 2010 7:01am
Here's one for the wklies!
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