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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

  • #81,201
  • Nov 30, 2010 11:47am Nov 30, 2010 11:47am
Quoting Osman
Hi Danny,

Thx for your advice.

I have 3 MT4 opened...
You do realize that you can run 3 MT of the same broker? or maybe you don't?
Canadian by birth Australian by choice
  • #81,202
  • Nov 30, 2010 11:49am Nov 30, 2010 11:49am
Hi Guys, Is it time to be long on GBP/USD? pin bar in process on daily at brn and ppz
Attached Image (click to enlarge)
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Trading is a test match not a Twenty20.
  • #81,203
  • Nov 30, 2010 12:12pm Nov 30, 2010 12:12pm
Quoting Osman
Btw, whats your FTA on GBP/CAD ?
Hey Os, GBP/CAD already hit FTA on the 4 hour (1.6010 area). That's not my target however, it's only a place where I make a decision about reducing my risk.


-- Danny
  • #81,204
  • Nov 30, 2010 12:34pm Nov 30, 2010 12:34pm
The day is not over yet....But

Nzd/Usd - PB on daily @ PPZ + Fib + TL + Forming Shampoo H&S

Any Comments Appreciated !

Thank You.
Attached Image (click to enlarge)
Click to Enlarge Name: NZD USD D PB.jpg Size: 140 KB
Anything can happen - You never know
  • #81,205
  • Nov 30, 2010 12:35pm Nov 30, 2010 12:35pm
Hello all,

Firstly I'd like to thank everyone who has and who continues to contribute to this wonderful thread. I have learn't so much from reading your posts and studying your charts and thought it was about time I expressed my sincere thanks to you all.

I have been demo trading PA for the last 3 months with mixed results. I am a man of patience and don't mind if it takes me another 12 months before I feel confident and happy enough to trade a live account with my hard earned money. I am here to learn no matter how long it takes.

One area that is extremely vital to PA is obviously PPZ's. I have read and studied the PPZ basics but would like to ask when it comes to marking PPZ's on your chart do you mark them to the nearest RN e.g. 1.50 or would you mark them to an exact pip e.g. 1.62 or is this even possible?

I do have a few other questions about other aspects of PA but I think 1 step at a time and think PPZ's is a good place to start.

Any help and advice would be much appreciated.

Thanks so much
Conrad
  • #81,206
  • Nov 30, 2010 12:39pm Nov 30, 2010 12:39pm
Quoting mbqb11
Hey Spookie

That is actually a neutral bar since the open and close sit in the middle of the bar. Indicating indecision. Gbp/nzd real tough pair to trade 4hr and lower from my experience. Less liquid causing more tails all over the place

Best
Mike

Thanks for the feed back
  • #81,207
  • Nov 30, 2010 12:53pm Nov 30, 2010 12:53pm
Been seeing a few more DBL bar highs and lows lately. Looking at this example, since the 2nd bar's close was not higher would it be best to play this one as a short on the break of the 2 lows? Or do many of you just set an entry at each end and cancel the one that doesn't break? Kind of like an inside bar play.
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  • #81,208
  • Nov 30, 2010 12:58pm Nov 30, 2010 12:58pm
Quoting mbqb11
Hey Spookie

That is actually a neutral bar since the open and close sit in the middle of the bar. Indicating indecision. Gbp/nzd real tough pair to trade 4hr and lower from my experience. Less liquid causing more tails all over the place

Best
Mike
is it just G/N on the 4hr tough or all the XXX/NZD pairs?
  • #81,209
  • Nov 30, 2010 1:25pm Nov 30, 2010 1:25pm
Quoting decentchap
Hi Guys, Is it time to be long on GBP/USD? pin bar in process on daily at brn and ppz
Hey Decentchap

Be careful with these. That bar is very small in relation to the strong bearish bars. Price hit the BRN of 1.55 and has "stalled" this is forming what looks like a pin by definition but the size would have me thinking of it as a small stall rather then true buying. These often do make the FTA(previous bar high) but will get quickly run back over by the sheer momentum of the downside

Best
Mike
  • #81,210
  • Nov 30, 2010 1:26pm Nov 30, 2010 1:26pm
Quoting bud_fox
Hello all,

Firstly I'd like to thank everyone who has and who continues to contribute to this wonderful thread. I have learn't so much from reading your posts and studying your charts and thought it was about time I expressed my sincere thanks to you all.

I have been demo trading PA for the last 3 months with mixed results. I am a man of patience and don't mind if it takes me another 12 months before I feel confident and happy enough to trade a live account with my hard earned money. I am here to learn no matter how long it takes.

One area that...
Wlecome Conrad

Glad you have been getting along well thus far

I like to always find a round number that the PPZ is close to but I still almost always think of that area as a "zone". This is why you will see us use blue boxes. So they might be around the round number of 1.6200 but that is still a "zone". The zone usually gets smaller the more minor a PPZ flip may be(since we have different degrees of PPZs).

Let me know if you have more questions about that
Mike
  • #81,211
  • Nov 30, 2010 1:28pm Nov 30, 2010 1:28pm
Quoting spookie94
is it just G/N on the 4hr tough or all the XXX/NZD pairs?
Yea a lot of them are spookie

Eur/nzd
aud/nzd
gbp/nzd

those are choppy on the smaller timeframes. I will trade them if the situation is right but I find them much easier the higher you go to smooth things out a bit. You can see that chop if you keep charts at a nice zoom level(for me)

Best
Mike
  • #81,212
  • Nov 30, 2010 1:29pm Nov 30, 2010 1:29pm
http://img7.imageshack.us/img7/2940/gold4h.gif

(If it closes like this)

pro:

- pinbar
- PPZ
- 61,8 fib
- possible H&S on the daily
- div on MACD
- small Stop Loss

againts:

- small pb
- huge uptrend


Lets see where it's heading
  • #81,213
  • Nov 30, 2010 1:35pm Nov 30, 2010 1:35pm
Thought you had a higher FTA as you had it still opened.

Btw, tried to send you a Pm, but you have function disabled.

Tc.

Quoting bluetrader
Hey Os, GBP/CAD already hit FTA on the 4 hour (1.6010 area). That's not my target however, it's only a place where I make a decision about reducing my risk.


-- Danny
Trade Smart
  • #81,214
  • Edited 1:56pm Nov 30, 2010 1:37pm | Edited 1:56pm
Quoting TheSnowman
You do realize that you can run 3 MT of the same broker? or maybe you don't?
Yes I do....

Tc
Trade Smart
  • #81,215
  • Nov 30, 2010 1:46pm Nov 30, 2010 1:46pm
Quoting Osman
Thought you had a higher FTA as you had it still opened.

Btw, tried to send you a Pm, but you have function disabled.

Tc.
I have PM enabled, when I go to your profile it appears you don't. Can you check you settings? User Options -> Private Messaging -> Enable Private Messaging, then save changes.

-- Danny
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  • #81,216
  • Nov 30, 2010 1:53pm Nov 30, 2010 1:53pm
is there a connection between EURCHF and EURUSD look at the PPZ line on the Pic from EURUSD it is acting as Support on EURCHF but this line hasnīt any Sup or Res in the past from the EURCHF chart :-O
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  • #81,217
  • Nov 30, 2010 2:38pm Nov 30, 2010 2:38pm
It is a historical day for me today!!! First time in my life I am going to take a trade from Monthly chart!!! No more 2 min TF's.. haha I'm excited!!!

http://cdn.forexfactory.com/attachme...1&d=1291149353
  • #81,218
  • Nov 30, 2010 2:38pm Nov 30, 2010 2:38pm
Quoting mbqb11
Wlecome Conrad

Glad you have been getting along well thus far

I like to always find a round number that the PPZ is close to but I still almost always think of that area as a "zone". This is why you will see us use blue boxes. So they might be around the round number of 1.6200 but that is still a "zone". The zone usually gets smaller the more minor a PPZ flip may be(since we have different degrees of PPZs).

Let me know if you have more questions about that
Mike
Mike thank you very much for your reply.

So if I highlight a flip around 1.6200 how many pips either side would I include in the zone?

Conrad
  • #81,219
  • Nov 30, 2010 3:02pm Nov 30, 2010 3:02pm
has this tiny pb on gu been already discussed?

if i assume that it is closing like this, then...

pro: fell below round number and closed above.
38.2% fib.
main trend is up.
con: small bar relative to prior bars.
no strong close.
doesn't protrude much (no real "shake out")
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #81,220
  • Nov 30, 2010 3:16pm Nov 30, 2010 3:16pm
Quoting Adilius07
It is a historical day for me today!!! First time in my life I am going to take a trade from Monthly chart!!! No more 2 min TF's.. haha I'm excited!!!

http://cdn.forexfactory.com/attachme...1&d=1291149353
nice chart,so does the aud/usd,don't you see???haha.....
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