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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

  • #80,001
  • Nov 14, 2010 7:33am Nov 14, 2010 7:33am
Quoting 666Doom
Anyone on for this one?
Challenge is still open.
Regards
Taz
I think it's only a PB by proxy with a lower close. I'm not convinced by the end of the downtrend. So I would not expect it to go beyond my 3rd TA.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #80,002
  • Nov 14, 2010 8:35am Nov 14, 2010 8:35am
Quoting forex0908
Hi,

Can someone help me with this?

Is this a good example of DBLHC ...

The TF is H4 and is a 2 pip difference acceptable on such a TF ?

0908
Yeah structure wise without zooming out it is DBLHC.
But it is not a good example,it is a 4 hr chart and i think on this one atleast lows should be same we can have 2-6 pips difference in weekly but 4 hourly no no.
Regards
Taz
  • #80,003
  • Nov 14, 2010 8:37am Nov 14, 2010 8:37am
Quoting mikeb
Hi all,


I wanted to post a 4H chart of USD/CHF. I will be watching the 0.9800 level for some bearish price action.

Why do I think bearish?
1. Previous support changing into resistance (0.9800)
2. RN 0.9800
3. 61,2% fib
4. Downtrend

Any comments would be appreciated

http://img703.imageshack.us/img703/5702/usdchf.gif
IMO the area also shows another fib acting as confluence for a short to support your outlook...but based on the strength shown on the daily I would need a short PA signal that would show rejection....also notice that it closed above.9800 with a BUB.
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  • #80,004
  • Nov 14, 2010 8:42am Nov 14, 2010 8:42am
Quoting mikeb
http://img17.imageshack.us/img17/9416/chart12131.gif

I'm thinking: a bit up, than retest of the pervious bars lows and than to the FTA. I don't think it will go much further north becouse of another strong resistance just above the FTA.
You are right about the region but that is not FTA,mike.
FTA is a little bit lower ,usually it is near the most closest bar high/lows.
  • #80,005
  • Nov 14, 2010 8:50am Nov 14, 2010 8:50am
Quoting cprao
Taz, My view is

However, it is technically NOT BE since the pin is not within the previous bar.
True this is not a Pinbar technically open close are not in previous bar.
But it is Pin by proxy.
Good job C your area are tight on line.
The word in forex is Your FTA are in line you are set to win.
Yeah true the price is falling heavily but considering other examples of fall,this i believed had a chance.
See what Mike(mbqb11) believes true heavy fall contains only bearish bars but this one looked like a range with third last bar a bullish move so i think there is some potential buying here.
Your experience shows from strong orderflow thought.
  • #80,006
  • Nov 14, 2010 8:53am Nov 14, 2010 8:53am
Quoting HanSolo
I think it's only a PB by proxy with a lower close. I'm not convinced by the end of the downtrend. So I would not expect it to go beyond my 3rd TA.
You nailed it Solo,your areas are exactly right.
It truly was win win for you.
Yeah all of you would have won,you know, your FTA are right.
And you know open/close part also,and you weighed the downtrend too.
Great Works.
Regards
Taz

http://img403.imageshack.us/img403/551/euro454gbp.gif
  • #80,007
  • Nov 14, 2010 8:56am Nov 14, 2010 8:56am
Quoting HanSolo
Taz, do you mean the one on 4h?



Planning your trades and trading your plan is a good way to overcome fear and greed, yes. Still some people might be better off by letting off steam on a demo account and while backtesting.

I was very picky in the beginning but that did not end fear/greed. In fact I became somehow more anxious of taking trades and kept myself from making experiences. I had to demo a few rounds of "trade everything that comes your way" to really appreciate pickyness.
yeah Han,i don't know what he saw to consider short.
I thought he saw that pinish bar and is probably short already.
Regards
Taz
  • #80,008
  • Nov 14, 2010 8:59am Nov 14, 2010 8:59am
Quoting 666Doom
You are right about the region but that is not FTA,mike.
FTA is a little bit lower ,usually it is near the most closest bar high/lows.

Ok, thanks, I think I got it. Han Solo's and Cprao's charts show the FTA correctly.
  • #80,009
  • Nov 14, 2010 9:05am Nov 14, 2010 9:05am
Quoting mikeb
Hi all,

I've been reading this thread for a while now, and finally I've decided, that maybe I could learn more if I post some chart now and then.

First of all I want to thank all the people creating this thread - you're doing a great job!

As a trader I'm now fighting with the problem of entering a price action formation after they "break". I have a mental problem with that and I always want to enter earlier (I'm afraid of the big stoploss I have to use), which ends up with me losing money. From this week this is going to change ...


Yeah that short would be nice in-fact Racman style short.
But true,look for PA there but i doubt you will get any ,it will be a fine touch trade.
Regards
Taz

http://img824.imageshack.us/img824/5702/usdchf.gif
  • #80,010
  • Nov 14, 2010 9:37am Nov 14, 2010 9:37am
Quoting 666Doom
Yeah that short would be nice in-fact Racman style short.
But true,look for PA there but i doubt you will get any ,it will be a fine touch trade.
Regards
Taz

It's a shame that it was friday. But nevertheless it's a good exercise to find and mark all the important supp/res and confluance lvls.

Thx for reply
  • #80,011
  • Nov 14, 2010 10:17am Nov 14, 2010 10:17am
Anyone looking at GBP/AUD? It seems to have found strong support at 1.6000

On the weekly there's a BUOB that's closed above the 1.6300 PPZ. It's in a bit of traffic and 2 weeks before there's another BUOB that didn't break - don't know if the first BUOB should bee seen as a confluence for this one or a negative in that it didn't break upwards.. There's divergence and as far as I can see the PPZ goes up to ~1.6750 wich I've circled to the left.

The daily shows a reverse H&S that has broken the neckline - I make FTA at around 1.6424 and STA (second trouble area) @ ~1.6565

What do our estemmed panel think? Is this better than AUD/USD?
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Anything can happen.
  • #80,012
  • Edited 10:50am Nov 14, 2010 10:24am | Edited 10:50am
This is a close up of GBP/AUD my feed isn't showing Friday's bar so I've drawn it in

I've put arrows at the trouble areas as well. *EDIT* - I redrew the neckline/trendline and it's in confluence with the 1.6300 BRN/PPZ. Price closed on friday at 1.6360 so watch for a retest of 1.6300 for confirmation that it's now acting as support?
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Anything can happen.
  • #80,013
  • Nov 14, 2010 10:27am Nov 14, 2010 10:27am
This one is my lucky winner for the next week

http://cdn.forexfactory.com/attachme...1&d=1289754493
  • #80,014
  • Nov 14, 2010 10:32am Nov 14, 2010 10:32am
Quoting Adilius07
This one is my lucky winner for the next week

http://cdn.forexfactory.com/attachme...1&d=1289754493
Last week it was JPY, this week it's AUD that's showing several potential setups
Anything can happen.
  • #80,015
  • Nov 14, 2010 11:35am Nov 14, 2010 11:35am
Anyone watching the IB on NZD/USD weekly?

Divergence again..

2nd chart is with fibs - 78.6 looks nice if it breaks through FTA @~ 0.7640?
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Anything can happen.
  • #80,016
  • Nov 14, 2010 11:58am Nov 14, 2010 11:58am
Quoting Adilius07
This one is my lucky winner for the next week

http://cdn.forexfactory.com/attachme...1&d=1289754493
nice trade you found there i added a little story on my charts below if you dont mind oh and maybe im a little too pessimistic, but i think the FTA would be 1.4000 ... its a BRN with proven support and resistance from the past...

btw it would be an awesome touch trade from a 10 years low @1.3660 ... of course it doesnt need to be a TT, look at the charts below, on 1h there's a little pinbar and with a location like this IMHO, thats all you need

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  • #80,017
  • Nov 14, 2010 1:20pm Nov 14, 2010 1:20pm
Looking closer at NZD/USD there's an upside story as well in the form of a reverse H&S.

The distance between the neckline and head is about 825 pips and the distance between the neckline break and ~800 pips takes it to almost exactly the last major highs on the left...

Perhaps a short break down to the 78.6 fib and bounce on up to the H&S minimum upside objective?
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Anything can happen.
  • #80,018
  • Nov 14, 2010 1:20pm Nov 14, 2010 1:20pm
Quoting 666Doom
Bad idea.
NO PA and Just TLs wont do it.
Your last pinish bar on GU is not a pin bar.
The daily chart has no PA to short.
And you are above a strong PPZ.
Ask for a chart and i will post it if you want.
Regards
Taz

NO PA???
I have a daily beob at the .6000 level (also top of weekly fib)
I have a 4hr bearish pin falling from it's retracement about to be triggered (10 pip J16 rule) and heading to the .6000 level. Looks to be good for 100 pips or so.
  • #80,019
  • Nov 14, 2010 3:18pm Nov 14, 2010 3:18pm
Looking to catch a bounce up on fridays profit taking. All info is on chart

http://i7.photobucket.com/albums/y28...uraudjames.jpg
  • #80,020
  • Nov 14, 2010 3:20pm Nov 14, 2010 3:20pm
Hi guys,

Loading up this AUDJPY Daily trade for you guys to look at. What do you think?

This is my reasoning:

I have learned by the senior members that I should think more about the location and PPZ than the bar setup (it still should be a good bar).

So this is how I see it: this is a big pinbar.
Off Fib retracement + off PPZ at 81.00
And also the nearest S&R (do you guys call it FTA?) is around 84 as I see it.

Anyways, just look at the picture.
Thanks!

EDIT:
That guy is always logging on and off in MSN so never mind him. It's impossible to have a printscreen without him all over the place.
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