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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

  • #80,841
  • Nov 26, 2010 3:59am Nov 26, 2010 3:59am
We still have some time until month is over but do you think this is a strong short setup?
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  • #80,842
  • Nov 26, 2010 4:54am Nov 26, 2010 4:54am
Quoting Adilius07
We still have some time until month is over but do you think this is a strong short setup?

Looks like a nice sized bar at a swing high but, I think it may have trouble at the confluence area.
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  • #80,843
  • Nov 26, 2010 4:57am Nov 26, 2010 4:57am
Quoting Pinbar
Looks like a nice sized bar at a swing high but, I think it may have trouble at the confluence area.
I see what you mean Pinbar, but maybe due to the size and strong close we have a good chance of that FTA being taken out?

And also I don't really like the Location, it is kinda in a middle of my R and S. But the bar itself looks so pretty to me. So I still think about it.
  • #80,844
  • Nov 26, 2010 5:07am Nov 26, 2010 5:07am
Quoting Adilius07
I see what you mean Pinbar, but maybe due to the size and strong close we have a good chance of that FTA being taken out?

And also I don't really like the Location, it is kinda in a middle of my R and S. But the bar itself looks so pretty to me. So I still think about it.


Yeah, I hear you.

A look at the weekly sort of seems to suggest this middle PPZ would be a good area to make a Higher Low.
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  • #80,845
  • Nov 26, 2010 5:11am Nov 26, 2010 5:11am
Quoting Pinbar
Yeah, I hear you.

A look at the weekly sort of seems to suggest this middle PPZ would be a good area to make a Higher Low.
Oh but for example. If month was already over and I saw a weekly LONG setup...(at the moment I have a rule not to fade higher TF).

So I would not take that long because it would be against this Monthly BEOB.

In other words I should not really care what is happening on lower TF, there may be buy signal but I should ignore them.

That is my thinking according to my rules.
  • #80,846
  • Nov 26, 2010 5:18am Nov 26, 2010 5:18am
Quoting Adilius07
Oh but for example. If month was already over and I saw a weekly LONG setup...(at the moment I have a rule not to fade higher TF).

So I would not take that long because it would be against this Monthly BEOB.

In other words I should not really care what is happening on lower TF, there may be buy signal but I should ignore them.

That is my thinking according to my rules.


Sounds good. A man of principle.
  • #80,847
  • Nov 26, 2010 5:52am Nov 26, 2010 5:52am
Found this one during my backtest, I think It would be interesting for "Where price is going" contest... anyone?

EDIT: It is Monthly TF
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  • #80,848
  • Nov 26, 2010 5:57am Nov 26, 2010 5:57am
Quoting Adilius07
Found this one during my backtest, I think It would be interesting for "Where price is going" contest... anyone?


What time frame is that Adi?
  • #80,849
  • Nov 26, 2010 5:58am Nov 26, 2010 5:58am
Quoting jarroo
I don't know about my "vast" experiences that I have lol . .but I have seen this play out many many times.

Let's follow along on the Aud/Usd . .for example . .and see what happens.

Start on this post and the one that preceeded it . .

Here we are now. (Charts) Weekly chart could be showing us that some downward movement may be coming our way.

Its a short Holiday week . .so what . .lets see what happens.
Quoting jarroo
Sorry Pb, maybe I wasn't that clear.

When Price breaks through and closes below a given Support level, we now look to see that Support level turn into Resistance. We want bearish PA at Resistance levels . .(bullish PA at Support levels).

Price is currently testing the Resistance level that was previous Support. Daily chart.

On the 4 Hour we can see that Price hit that level to the pip . .wow, nice. and acted as Resistance. If Price can close today below the .9816ish level it will confirm it (.9816ish) as pontential Resistance. . . bearish...
How sweet did this play out . .Chart.


Are people understanding this????
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Indicators show the past. Price Action "Indicates" the future.
  • #80,850
  • Nov 26, 2010 5:59am Nov 26, 2010 5:59am
Quoting Pinbar
What time frame is that Adi?
Oh sorry I forgot, It is monthly chart!
  • #80,851
  • Nov 26, 2010 6:04am Nov 26, 2010 6:04am
Quoting Adilius07
Oh sorry I forgot, It is monthly chart!

Something like this, perhaps?
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  • #80,852
  • Nov 26, 2010 6:05am Nov 26, 2010 6:05am
Quoting ppfx
similar story on the NZDUSD...

Its more like the Aud/Usd. Nice . . ppfx.
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Indicators show the past. Price Action "Indicates" the future.
  • #80,853
  • Nov 26, 2010 6:09am Nov 26, 2010 6:09am
Quoting jarroo
How sweet did this play out . .Chart.


Are people understanding this????
I think I do understand if I spent a real much time on it. It does work!
But takes a lot of work to do really. Not is that I'm lazy, I think there is a way to make it more simple. Of course I don't know yet as my experience is nothing to yours, but I had a mentor before who showed me a few tricks, and when I apply them they seem to be almost identical really, but really really simple.
It depends on a personality I guess. You take a chart and make a lot of work on it but you can follow less instruments to make perfect trades, but for me is only possible to follow a lot of charts to find something I can see and understand. I can post my chart if you want with the same play of Resistance but different approach?
  • #80,854
  • Nov 26, 2010 6:11am Nov 26, 2010 6:11am
Quoting Pinbar
Something like this, perhaps?
Wow Pinbar, exactly like this!!! Unbelievable!!!

http://cdn.forexfactory.com/attachme...1&d=1290773023
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  • #80,855
  • Nov 26, 2010 6:12am Nov 26, 2010 6:12am
Quoting Adilius07
Wow Pinbar, exactly like this!!! Unbelievable!!!

So resistance became support. And the bar was sucka-bait... but I'm afraid I still could take a bar like that and think it was a perfect short setup!
  • #80,856
  • Nov 26, 2010 6:17am Nov 26, 2010 6:17am
Quoting Adilius07
So resistance became support. And the bar was sucka-bait... but I'm afraid I still could take a bar like that and think it was a perfect short setup!


I did not like the open of that bar, even though it was at a swing high, also it looked visually to be like a pullback to the 38.2 on an eyeball fibo.
  • #80,857
  • Nov 26, 2010 6:17am Nov 26, 2010 6:17am
Hello Guys,
You are doing a great job here as always.
I have a very interesting question popping in my mind.
I opened up my chart and just marked up great areas,now i know that great setup,will form around these areas,but one thing i would like to know is how do i know the setup i'm taking around these areas is that setup which is going to get me a ride till the place i want.

Say mike you take only those setups around BRN and strong PPZ,how do you know that the boat that you are seeing in that area is the last or is the setup which is gonna make my life(ie my great setup of the month).
I see Usd/Chf reaching 1.000 i know it is a great area,should i enter right away or wait for PA.
If i enter right away i know i will place stop point behind the nearest major area.
If i wait for PA then how would i know that it is The PA that is the one which will take me to my preferred destination.

Hope you understand what i mean.
I am raking in profits but lacking runners,i want runners,i just hit a few but cant make up my mind on deciding runners.
I know areas well but i dont know the number of my bus.
I know my destination but train to catch is unknown.
Help me James,mike and Jarroo,SC Ghous, i just don't want one or two answers i want a complete poll here.

Help Help Help.
Taz
  • #80,858
  • Nov 26, 2010 6:26am Nov 26, 2010 6:26am
Quoting Pinbar
No, you were clear, it was probably my train of thought that confused things.


Here you go Jarroo, I think we are on the same page.


Got to go to Tokyo again tonight, I hate that place.
It is alright while you are drinking but the train back is a cattle truck, it gets so crowded you are pushed by people cramming in the trains, very often you can not get two feet on the ground and have to sort of cling to the hand straps, like a bat.

They actually have people who work for the train companies whose job it is to physically push people in the...
Crazy train.


It looks like you're getting it, Pb. PPZ levels are not that big as on your Daily chart . but I see your point. Just keep it simple.
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Indicators show the past. Price Action "Indicates" the future.
  • #80,859
  • Nov 26, 2010 6:27am Nov 26, 2010 6:27am
Quoting 666Doom
Hello Guys,
You are doing a great job here as always.
I have a very interesting question popping in my mind.
I opened up my chart and just marked up great areas,now i know that great setup,will form around these areas,but one thing i would like to know is how do i know the setup i'm taking around these areas is that setup which is going to get me a ride till the place i want.

Say mike you take only those setups around BRN and strong PPZ,how do you know that the boat that you are seeing in that area is the last or is the setup which is gonna make...

Show me a chart on your concern and I'll show you.
Indicators show the past. Price Action "Indicates" the future.
  • #80,860
  • Nov 26, 2010 6:31am Nov 26, 2010 6:31am
Quoting HanSolo
Jarroo, you probably don't know or intended it, but this post really makes a difference to me. Just the right words at the right time. Thank you.

I wish you all a great thanksgiving and look forward to see you tomorrow
Hans

That's great Hans . .

I know the feeling . .hearing the right words or seeing the right thing at the right time.
Indicators show the past. Price Action "Indicates" the future.
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