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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

  • #80,661
  • Nov 23, 2010 9:17am Nov 23, 2010 9:17am
Did any one catch this - Not a great pb but good enouh with great RR.

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  • #80,662
  • Nov 23, 2010 9:19am Nov 23, 2010 9:19am
Quoting jarroo
Where is Price going?
Price cutting through all those targets.

Those North Koreans are nuts.
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Indicators show the past. Price Action "Indicates" the future.
  • #80,663
  • Nov 23, 2010 9:19am Nov 23, 2010 9:19am
Quoting mbqb11
I took my take profit a bit lower but exactly how I saw it. Quick hitter, on a short week . xxx/jpys really broke out which is nice to see. Let's get some action before turkey day
Sweet trade Mike. I'm short EUR/JPY myself, I'm done for the week after this trade.

-- Danny
  • #80,664
  • Nov 23, 2010 9:20am Nov 23, 2010 9:20am
Quoting stewrigh
Did any one catch this - Not a great pb but good enouh with great RR.

Oh yeah . . .

Quoting jarroo
Not only is it a must (for me) to bring the Higher TF info to lower TFs, but also the basic understanding of Support turning into Resistance (& vice versa) at these strong PPZ levels.

The 2 Week TF shows this strong PPZ level at the 1.3750ish level that has proven itself to be Resistance. . .by how it closed.

Looking at the Hourly TF , we can see a nice size pin bar looking BEOB (I like those) that engulfs many bars. A closer look tells the same story that the 2 Week TF did. . .Sup turning into Res once Price broke through and closed....
Indicators show the past. Price Action "Indicates" the future.
  • #80,665
  • Nov 23, 2010 9:21am Nov 23, 2010 9:21am
Quoting bluetrader
Sweet trade Mike. I'm short EUR/JPY myself, I'm done for the week after this trade.

-- Danny

I may be done for the year . . .
Indicators show the past. Price Action "Indicates" the future.
  • #80,666
  • Nov 23, 2010 9:27am Nov 23, 2010 9:27am
Quoting jarroo
I may be done for the year . . .
And I'm long EUR/GBP... will still have to work for years...
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  • #80,667
  • Nov 23, 2010 9:27am Nov 23, 2010 9:27am
Quoting jarroo
I may be done for the year . . .
Nice Jim. Treat yourself to some extra gravy this year.

Some scary stuff going on in the Pacific.

-- Danny
  • #80,668
  • Nov 23, 2010 9:29am Nov 23, 2010 9:29am
Quoting Adilius07
And I'm long EUR/GBP... will still have to work for years...

What setup was that, Adi?
Indicators show the past. Price Action "Indicates" the future.
  • #80,669
  • Nov 23, 2010 9:30am Nov 23, 2010 9:30am
Quoting bluetrader
Nice Jim. Treat yourself to some extra gravy this year.

Some scary stuff going on in the Pacific.

-- Danny

Thanks Danny . . .I (we) have much to be thankful for . . .
Indicators show the past. Price Action "Indicates" the future.
  • #80,670
  • Nov 23, 2010 9:31am Nov 23, 2010 9:31am
Quoting jarroo
What setup was that, Adi?
It was this IB off BRN,PPZ on weekly. Looked really promising to me... it is about to get stopped out in a minute I guess..

http://www.forexfactory.com/attachme...9&d=1290250482
  • #80,671
  • Nov 23, 2010 9:32am Nov 23, 2010 9:32am
Thanks mike

For me: EURUSD Long PB Weekly stopped out :-(
  • #80,672
  • Nov 23, 2010 9:33am Nov 23, 2010 9:33am
Anybody took the H4 Pb on usd/chf?

1.000 level is a good area of interest at the moment and with monthly pb and current market sentiment the 3rd test could wipe a lot of sellers out from the market.
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  • #80,673
  • Nov 23, 2010 9:36am Nov 23, 2010 9:36am
Quoting john225
Thanks mike

For me: EURUSD Long PB Weekly stopped out :-(
Hey John

I am a bit surprised it didn't make it up to that last low, but here is where traffic comes heavily into play

Notice how the pinbar could not close above all those 3 lows. That is traffic at its finest. Meaning you are fighting back into that. Lack of space with those lows is scary proposition in my book. Where as notice the nzd/jpy closed back down under the highs. So the highs for my nzd/jpy can act as resistance to help protect me, as where as the lows on your eur/usd can act as resistance against you

If I can get you to see this you will never look at your trades the same
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  • #80,674
  • Nov 23, 2010 9:45am Nov 23, 2010 9:45am
Looked good to me, but the traffic kept me out. I might be looking at traffic with a more tolerant eye from now on as long as we get good PA at a PPZ.

Quoting Greenhaze
Anybody took the H4 Pb on usd/chf?

1.000 level is a good area of interest at the moment and with monthly pb and current market sentiment the 3rd test could wipe a lot of sellers out from the market.
  • #80,675
  • Nov 23, 2010 9:45am Nov 23, 2010 9:45am
Quoting Adilius07
It was this IB off BRN,PPZ on weekly. Looked really promising to me... it is about to get stopped out in a minute I guess..

I see . . off a good locaton . .nice confluences. IBs can be tough as a reversal counter trend trade, meaning we like Big size for strength. Were as with IBs we like them small in size for compression which leads to strong, robust break outs.
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Indicators show the past. Price Action "Indicates" the future.
  • #80,676
  • Nov 23, 2010 9:47am Nov 23, 2010 9:47am
Quoting jarroo
I see . . off a good locaton . .nice confluences. IBs can be tough as a reversal counter trend trade, meaning we like Big size for strength. Were as with IBs we like them small in size for compression which leads to strong, robust break outs.
Thanks for advice Jarroo, the smaller the size the better, I need to remember this. And of course overall story - I have to improve this part of my trading.
  • #80,677
  • Nov 23, 2010 9:50am Nov 23, 2010 9:50am
Quoting mbqb11
Hey John

I am a bit surprised it didn't make it up to that last low, but here is where traffic comes heavily into play

Notice how the pinbar could not close above all those 3 lows....
That is a wonderfull helpfull post
Thanks again mike
  • #80,678
  • Nov 23, 2010 9:51am Nov 23, 2010 9:51am
Quoting Adilius07
Thanks for advice Jaroo, the smaller the size the better, I need to remember this. And of course overall story - I have to improve this part of my trading.

Location was great.
Indicators show the past. Price Action "Indicates" the future.
  • #80,679
  • Nov 23, 2010 9:58am Nov 23, 2010 9:58am
Quoting jarroo
I see . . off a good locaton . .nice confluences. IBs can be tough as a reversal counter trend trade, meaning we like Big size for strength. Were as with IBs we like them small in size for compression which leads to strong, robust break outs.
The entry was also very near a weekly PPZ/RNB @ 8600, I think Adi traded right into this PPZ.
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Pipcrawler
  • #80,680
  • Nov 23, 2010 10:03am Nov 23, 2010 10:03am
Hi Danny,

Nice trade EUR/JPY... just a question, I see you took the BEOB, I was concerned it didnt touch the 115 level, so IMO location wasnt very good, there is a ppz around 114.767 which price wasnt able to close above it and was rejected on the 07-28 , you took it base on that ppz ?

Thx.



Quoting bluetrader
Sweet trade Mike. I'm short EUR/JPY myself, I'm done for the week after this trade.

-- Danny
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