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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

  • #79,581
  • Nov 9, 2010 1:35am Nov 9, 2010 1:35am
Quoting supremeChaos
unprecedented.

anyone got a chart going past prior 2005 for this pair? which broker?

imho, this pair is bullish on Daily & up.
i see 1.3000 getting blown sooner or later. then the 1.32 - 1.33 highs, then the sky (if 1.3200 area is indeed the overall high; & unless a 2008-like deleveraging recurs)
back to range below 1.2700

i'll be watching. unprecedented. interesting.


hey Sir joel, how about a first insightful post after your birthday?
i quick-read a news article, seems like RBA is trying to tame AUD rise.



Interesting SC, you always give me a different view of things.


And I also need to see it close below the 365
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  • #79,582
  • Nov 9, 2010 1:47am Nov 9, 2010 1:47am
Quoting Be Cool
hey PB on that EG trade where did you draw PPZ?coz on my chart the BEOB didn't close below PPZ.

Here you go...


The fibo is upside down but it doesn't matter as the 50 is always the 50, whichever way you draw it.
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  • #79,583
  • Nov 9, 2010 1:53am Nov 9, 2010 1:53am
Quoting Pinbar
..
And I also need to see it close below the 365
based on your perspective,
yes there may be a short opportunity.
only, u have to realize that a TL, a diagonal S/R if u like, is like a horizontal S/R -- it may or may not hold.

if u are shorting, imho u have to watch 1.2700 - 1.2850. these can stall u out (if buyers come in), specially if the current up trend is strong/asserts itself again soon.
for a downmove, imho, a convincing price action/momentum cutting through this area is imperative.

i rarely trade this pair, but i try to look at each pair 'with the same discerning eye'.
  • #79,584
  • Nov 9, 2010 2:02am Nov 9, 2010 2:02am
Quoting supremeChaos
based on your perspective,
yes there may be a short opportunity.
only, u have to realize that a TL, a diagonal S/R if u like, is like a horizontal S/R -- it may or may not hold.

if u are shorting, imho u have to watch 1.2700 - 1.2850. these can stall u out (if buyers come in), specially if the current up trend is strong/asserts itself again soon.
for a downmove, imho, a convincing price action/momentum cutting through this area is imperative.

i rarely trade this pair, but i try to look at each pair 'with the same discerning eye'.

Yes, I hear you SC...

I jumped the gun because I want to cut my loss on the weekly BEOB and then try to make it up with this PB, I plan on going to BE at the 38.2 and closing the other trade.
I think it is a pretty PB off the 61.8 with a strong close below the 1.2900 and the flip area.
This is sort of like the anti hedging trick.

Let's see.
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  • #79,585
  • Nov 9, 2010 2:03am Nov 9, 2010 2:03am
Quoting unlv_tj
Is anyone short the EURGBP off the BEOB from 2 weeks ago?

I am in....
I left this ship yesterday. I got nervous with it not breaking hard enough and finding resistance at 4h and daily 365EMA. Good luck with it, anyway!

Quoting ghous
Your points are very reasonable Hansolo, which is...
Done again: The thought that there is the one and only J16 method. I somehow still fall for that trap. Thanks for waking me up once again, Ghous.

Quoting Dan Gilbert
Here is my only open trade currently.

AUDCHF daily bullish pin off the PPZ.

I'm going to move my S/L under todays PA bar (the 'X' on the chart) at the US market close.

Trading into some chop here, but overall seems like a manageable trade.
Dan, would you mind explaining your thought process on this one a bit? I see some serious PPZ above and we had a bearish PB just a few days ago. What makes you think that it goes up even further? Do you consider this a high risk trade in your portfolio?
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Thanks J16, Sam Seiden, Udine and Jacko
  • #79,586
  • Nov 9, 2010 2:15am Nov 9, 2010 2:15am
I revised my BE....I am shooting for the area marked on the chart. At which point I shall close out the old trade on the Weekly BEOB and see how this PB behaves. It may well blow up in my face but, I think it is worth a shot. Also, this could be where that gap gets filled.
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  • #79,587
  • Nov 9, 2010 2:17am Nov 9, 2010 2:17am
Quoting Pinbar
I revised my BE....I am shooting for the area marked on the chart. At which point I shall close out the old trade on the Weekly BEOB and see how this PB behaves. It may well blow up in my face but, I think it is worth a shot.
why u dont sell when price touched top trendline?
Hero calls followed by margin calls...
  • #79,588
  • Nov 9, 2010 2:24am Nov 9, 2010 2:24am
Quoting PhAnTi'
why u dont sell when price touched top trendline?
Because there was no Price Action and price was above the PPZ area, the wide green band.


Here is the logic.
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  • #79,589
  • Nov 9, 2010 3:06am Nov 9, 2010 3:06am
Quoting jarroo
(Just a side note . .this is how I view things . .)

By starting on the Weekly, we find stronger PPZ levels. When we find these levels, we want to see how they are acting . .meaning are they acting as Support or Resistance currently.

Once we find that they are acting as Support (in case on the Nzd/Chf) we wait for Price to break through it and see if it acts as Resistance or look for bullish PA at this Support level.

I will drop down to the Daily time frame (or even the 8 hour, 4 hour, or even the Hourly) with this information I gained from...
Fantastic Post... jarroo
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #79,590
  • Nov 9, 2010 3:30am Nov 9, 2010 3:30am
I just closed my weekly BEOB trade on EURCHF for 93 pips. As long as I struggle with trailing strategies and predicting charts I'll play it safe and TP earlier.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #79,591
  • Nov 9, 2010 3:35am Nov 9, 2010 3:35am
i have also a sellstop order at 1.2958. price rejected from 1.29584 order not filled.

strong PPZ at 1.2900 double fib confluence 38,2+50,EMA 365
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  • #79,592
  • Nov 9, 2010 3:48am Nov 9, 2010 3:48am
the bulls are not giving up easily,another test to the PPZ
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  • #79,593
  • Nov 9, 2010 4:12am Nov 9, 2010 4:12am
a few might be interested in the cognition-related video here
http://www.forexfactory.com/showpost...81&postcount=7
  • #79,594
  • Edited 4:44am Nov 9, 2010 4:31am | Edited 4:44am
Great stuff, always amazes me...I think I need a taco, make that a supreme taco...
Without women, money would have no meaning - Aristotle Onassis
  • #79,595
  • Nov 9, 2010 4:41am Nov 9, 2010 4:41am
Quoting Pinbar
Yes, I hear you SC...

I jumped the gun because I want to cut my loss on the weekly BEOB and then try to make it up with this PB, I plan on going to BE at the 38.2 and closing the other trade.
I think it is a pretty PB off the 61.8 with a strong close below the 1.2900 and the flip area.
This is sort of like the anti hedging trick.

Let's see.
Hey PB, A-N just made a BUOB on the 1H-TF which closed above the 12900.
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Pipcrawler
  • #79,596
  • Nov 9, 2010 5:15am Nov 9, 2010 5:15am
Quoting jarroo
You got it, Pb. It really can be this easy.

Now you see if Price is telling more of a story at these levels . . . like a wedge breakout pullback with PA, or multi-confluences forming at these levels, etc.


No metal for me . . I love this stuff .. .
Jarroo, you should write a book about all this stuff, could be a bestseller, I'll be the first person to buy one copie.
Pipcrawler
  • #79,597
  • Nov 9, 2010 5:44am Nov 9, 2010 5:44am
Here is a chart for the gu see the resistance forming at 1.6165, can it hold ? time to short ? or long now, as we await the opening....
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Without women, money would have no meaning - Aristotle Onassis
  • #79,598
  • Nov 9, 2010 5:49am Nov 9, 2010 5:49am
Done and then some retrace
Without women, money would have no meaning - Aristotle Onassis
  • #79,599
  • Edited 7:23am Nov 9, 2010 7:11am | Edited 7:23am
Quoting xmzhang
Hey PB, A-N just made a BUOB on the 1H-TF which closed above the 12900.

Yeah, tell me about it, LoL

It is hard to imagine there is a big Bad BEOB up there on the weekly.

I think I got into a revenge thing with it, LOL.

It's coming, just when is the problem.
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  • #79,600
  • Nov 9, 2010 7:23am Nov 9, 2010 7:23am
Quoting Pinbar
Yeah, tell me about it, LoL

It is hard to imagine there is a big Bad BEOB up there on the weekly.

I think I got into a revenge thing with it, LOL.
Price is squeezing into a triangle, it could break out both ways. After the 1H-BUOB price couldn't take out the high of the 4H-PB so there's is some bearish momentum. If price breaks above then I would close my short position, lets see...
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Pipcrawler
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