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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

  • #81,101
  • Nov 29, 2010 5:20am Nov 29, 2010 5:20am
Quoting geomink
How will it end?

:-)
As Mike would say it has some traffic so no surprise
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  • #81,102
  • Nov 29, 2010 6:24am Nov 29, 2010 6:24am
Quoting geomink
How will it end?
Hi Geo,

I agree with Atc on this... but just sticking to the same timeframe. I highlighted the FTA on the chart (I know it's in hindsight, but do you see where price reacted to the .8515 level?). The key point with passing on this trade for me would have been the close. On this BUOB, the close only engulfed 1 bar and price failed to close above the BIG round number .8500

An additional weaknesses to the setup would also be a weak bar size.

I'm not saying this to beat you up Geo, we are all trying to learn here. Avoiding tricky setups like these will keep your account intact for the A+ setups that are around the corner.

Hope this helps.

-- Danny
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  • #81,103
  • Nov 29, 2010 6:55am Nov 29, 2010 6:55am
Hey Jarroo, got a question for you... Today my tradingsoftware generated on most of the major pairs strong BEOB's, but the positions of these BEOB's were not at swing highs. Normally a BEOB's can be traded as a pullback pattern (@ swing high), breakout pattern (within a range) or as a continuation pattern (@ swing low. How would you classify the BEOB's in the attachements ? And is there a different trading approach between these BEOB's @ different postions ? Why are continuation BEOB's more difficult to trade ? I took all these BEOB's on a demotrade and my trading approach is still the same regardless of their positions within the chart context, would you consider this a correct trading approach ?

May the force be with you.
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Pipcrawler
  • #81,104
  • Nov 29, 2010 7:54am Nov 29, 2010 7:54am
Quoting bluetrader
Hi Geo,

I agree with Atc on this... but just sticking to the same timeframe. I highlighted the FTA on the chart (I know it's in hindsight, but do you see where price reacted to the .8515 level?). The key point with passing on this trade for me would have been the close. On this BUOB, the close only engulfed 1 bar and price failed to close above the BIG round number .8500

An additional weaknesses to the setup would also be a weak bar size.

I'm not saying this to beat you up Geo, we are all trying to learn here. Avoiding tricky setups like these...
BIngo. Well done danny.
  • #81,105
  • Nov 29, 2010 8:36am Nov 29, 2010 8:36am
will the daily beob break this strong upmove?
rather no, bit it could be good for drop back to 100 eur...
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meine augen sind die sterne
  • #81,106
  • Nov 29, 2010 8:52am Nov 29, 2010 8:52am
this is a nice setup...
edit: there is one more touch-point at the 30 eur on the weekly back in 2007 (not shown on the chart).
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meine augen sind die sterne
  • #81,107
  • Nov 29, 2010 9:34am Nov 29, 2010 9:34am
the price have broke though 81,and the next resistence maybe the previous [email protected],and the 50%[email protected] it will pull back in the near future. and EU is now @ the 50%fibs area. combine with the usd index. i expect there will be a pull back for EU . lets c.
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A chart helps those who can read it.
  • #81,108
  • Nov 29, 2010 9:36am Nov 29, 2010 9:36am
Quoting ghous
That doesn't like like a bad setup at all...in my book at least. Good location (obliging to the 2W pin bar, off the 1.000 and forming the break of the H&S pattern on the daily) Decent shape (strong close) and a very very clear idea of where price is going at the break of the BEOB.

g.
hi ghous, nice charts as usual , hope your well.

ii was just lookin at my chart before i read your post and i also liked the chance of the touch trade this mornin. i like this kind of setup,retest of the TL,with the PPZ at the RN, plenty of momentum..

jon
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PATIENCE... DISCIPLINE
  • #81,109
  • Nov 29, 2010 9:45am Nov 29, 2010 9:45am
Hey Dudes,
Here's potentially a decent pinbar shaping up on USDCAD, not much space and pretty choppy to the left though.
Regards,

http://imgur.com/63fI7.png
Price is beautiful. A repetitive method is a competitive method.
  • #81,110
  • Nov 29, 2010 10:11am Nov 29, 2010 10:11am
Quoting Oldice
Hi all,

Another analysis; this one's a little tougher than the last one, for me, at least....

hey Dave, nice analysis, i agree with your PPZs exactly! although as this pair moves a lot of pips i personally dont expect too much reaction from those which are in between RNs although of course i like to be aware of them.
the downside for me is that i would be tradin into some traffic and also the weekly has a bit of bullish div. pointing too a possible rest in the downtrend?? price has been pretty flat all summer on that TF (which is the traffic i mentioned
the daily is also showing bullish divergence which could be a sign of the bears weakness. this TF shows the traffic below the BEOB also.
All in all one to manage tightly if its taken, a pass for me personally.

jon
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PATIENCE... DISCIPLINE
  • #81,111
  • Nov 29, 2010 10:19am Nov 29, 2010 10:19am
Hi Nwo,

Nice Bar, nice location but 1.01800 is a strong support area, as you said not enough space.
In Fxpro ive got 365ema just below the candle, @ 1.0218

Tc.

Quoting nwo-trader
Hey Dudes,
Here's potentially a decent pinbar shaping up on USDCAD, not much space and pretty choppy to the left though.
Regards,

http://imgur.com/63fI7.png
Trade Smart
  • #81,112
  • Nov 29, 2010 11:23am Nov 29, 2010 11:23am
Hello everyone,

I managed to document a trade I decided to enter today on the Eur/Usd.
I would love to hear from everyone.
Please go easy on me


http://i.imgur.com/hZ1eg.jpg
http://i.imgur.com/Lq30W.jpg
http://i.imgur.com/Z4Usi.jpg
  • #81,113
  • Nov 29, 2010 11:27am Nov 29, 2010 11:27am
Quoting lallous
Hello everyone,

I managed to document a trade I decided to enter today on the Eur/Usd.
I would love to hear from everyone.
Please go easy on me




Hey Lallous

I think this was a nice solid analysis but still keeping things simple enough. How have you managed your trade, or plan to?

Best
Mike
  • #81,114
  • Nov 29, 2010 11:29am Nov 29, 2010 11:29am
Quoting g_j_hook@yah
hey Dave, nice analysis, i agree with your PPZs exactly! although as this pair moves a lot of pips i personally dont expect too much reaction from those which are in between RNs although of course i like to be aware of them.
the downside for me is that i would be tradin into some traffic and also the weekly has a bit of bullish div. pointing too a possible rest in the downtrend?? price has been pretty flat all summer on that TF (which is the traffic i mentioned
the daily is also showing bullish divergence which could be a sign of the bears weakness....
Do you mean hidden bearish divergence on the daily?

This occurs when price makes a lower high (LH), but the oscillator is making a higher high (HH). By now you've probably guessed that this occurs in a downtrend. When you see hidden bearish divergence, chances are that the pair will continue to shoot lower and continue the downtrend.
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  • #81,115
  • Nov 29, 2010 11:38am Nov 29, 2010 11:38am
looks like a good crowd today.

any new folks here finding some success since my vacation started?

i see some new "faces".

welcome,

jim
  • #81,116
  • Nov 29, 2010 11:40am Nov 29, 2010 11:40am
damn. now thats a chart i can see without reading glasses even if i am 50.

lolol.

Quoting lallous
Hello everyone,

I managed to document a trade I decided to enter today on the Eur/Usd.
I would love to hear from everyone.
Please go easy on me


http://i.imgur.com/hZ1eg.jpg
http://i.imgur.com/Lq30W.jpg
http://i.imgur.com/Z4Usi.jpg
  • #81,117
  • Nov 29, 2010 11:51am Nov 29, 2010 11:51am
Quoting mbqb11
Hey Lallous

I think this was a nice solid analysis but still keeping things simple enough. How have you managed your trade, or plan to?

Best
Mike
Hello Mike,

I entered the trade at the break of the 4 hour candle as depicted in the 4 hour chart. My SL was at the 1.33 BRN and take profit at the FTA which is around the 1.31 zone.
Can you please share how you would do it?
  • #81,118
  • Nov 29, 2010 11:56am Nov 29, 2010 11:56am
Quoting james16
looks like a good crowd today.

any new folks here finding some success since my vacation started?

i see some new "faces".

welcome,

jim
Hello Jim,

Have a great vacation, as for my vacation I know how I will spend it .
Here is a hint: devouring James16 thread
  • #81,119
  • Nov 29, 2010 12:04pm Nov 29, 2010 12:04pm
Quoting lallous
Hello Mike,

I entered the trade at the break of the 4 hour candle as depicted in the 4 hour chart. My SL was at the 1.33 BRN and take profit at the FTA which is around the 1.31 zone.
Can you please share how you would do it?
perfect my friend , that is how I saw it too, the major trouble being 1.3 but 1.31 being where to watch off yours being a continuation play
  • #81,120
  • Nov 29, 2010 12:09pm Nov 29, 2010 12:09pm
Quoting mbqb11
perfect my friend , that is how I saw it too, the major trouble being 1.3 but 1.31 being where to watch off yours being a continuation play
Was the PA signal the Inside bar or the BEOB?
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