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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

  • #81,561
  • Dec 3, 2010 2:31pm Dec 3, 2010 2:31pm
Hi all

Id like to see a retest of the major ppz of 1.33000 and/or to the previous bar low (weekly) before thinking of entering, that way i can have a tight sl

this level needs to prove to be resistance

if it does retest id get in around 1.3320 with a 30 pip sl and look to take half off at the 1.3390 level whilst moving the sl to be

tp 1 would be the 1.3475 level

Good luck

Anthony
  • #81,562
  • Dec 3, 2010 2:35pm Dec 3, 2010 2:35pm
One question

For example if a good looking bullish PB is closing under the BRN 1.0000 would you:
1.Pass this trade
2.Long order above the high of the pin
3.Long order above the 1.0000
?

;-)
  • #81,563
  • Dec 3, 2010 2:50pm Dec 3, 2010 2:50pm
Quoting cprao
I am also looking at this PB but the Monthly BEOB is not really good sign here.

It is not triggerred yet.. but it is still valid since the high is not broken yet....
I like that weekly PB on eur/usd , monthly BEOB does not distract me much because it is in sideways market like Mike mentioned it http://www.forexfactory.com/showpost...ostcount=81235
Anything can happen - You never know
  • #81,564
  • Dec 3, 2010 3:03pm Dec 3, 2010 3:03pm
i like the other side also, us/chf has a weekly BEOB coming off strong PPZs

it is running into pretty strong resistance though but could have potential in my view?
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PATIENCE... DISCIPLINE
  • #81,565
  • Dec 3, 2010 3:09pm Dec 3, 2010 3:09pm
Quoting john225
One question

For example if a good looking bullish PB is closing under the BRN 1.0000 would you:
1.Pass this trade
2.Long order above the high of the pin
3.Long order above the 1.0000
?

;-)
Hey, I would wait for the break and close above the 1.0, and then go for a long position at the 1.0 or so. Itīs important also for me to have BRN on my side and only like that

If the worst case scenario alias the price rockets to the infinity happens, it ok! Itīs only one trade which means nothing and we made our best being picky and avoiding stupid risks.

Happy weekend!
Nuc
  • #81,566
  • Dec 3, 2010 3:35pm Dec 3, 2010 3:35pm
nzdusd reached ppz I was looking for.second part safety banked,less then 20% in,sl moved between FTA and PPZ.
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Nothing personal,just business
  • #81,567
  • Dec 3, 2010 3:44pm Dec 3, 2010 3:44pm
Quoting cprao
I am also looking at this PB but the Monthly BEOB is not really good sign here.

It is not triggerred yet.. but it is still valid since the high is not broken yet....
Hey C

I like to analyze the one timeframe by itself. Both the monthly and weekly would be showing exactly what you can see on each timeframe by itself. A rather choppy market. The weekly pin could run up to say 1.35or a bit higher, drop back down and trigger the monthly beob. Overall choppy market conditions mean the FTA have a larger effect. So irregardless of anything else the action is already there on the specific chart we are looking at and we can define our trades like that. Others prefer a multi timeframe analysis but for me that always made me over analyze.

It's what works for the trader
Mike
  • #81,568
  • Dec 3, 2010 4:58pm Dec 3, 2010 4:58pm
Anyone watching this? Waiting for a break of 1.35, or a break and re-test....
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  • #81,569
  • Dec 3, 2010 6:24pm Dec 3, 2010 6:24pm
Quoting decentchap
Thanks for your comment pinbar. Perhaps I do need to start demo again, and more importantly need to read the first few hundred pages again.

Good decision DC.

No point pulling the trigger half cocked.

As they say, "Demo as you would trade live and trade live as you would demo".

I mean, even on demo, only use the same size of capital you intend to go live with, and position size using no more than 1% risk on each trade, maybe 0.5% is even better.

Hope you have a nice journey.
  • #81,570
  • Edited 7:12pm Dec 3, 2010 6:28pm | Edited 7:12pm
Quoting xmzhang
SC, PB, thanx for your very kind remarks, I'am really flattered, but I'am not the only one who has taken the James method like a duck to water, hey Pinbar

May the force be with you.

Think I am stuck in the weeds....LoL

I was yesterday for sure.

I think you have done great and are much further ahead than myself.

I have to get my analysis system in order instead of just concentrating on a single aspect too much. Any advice XMZ?



Here is a good example of my dilemma.
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  • #81,571
  • Dec 3, 2010 6:42pm Dec 3, 2010 6:42pm
Quoting TheSnowman
Check out this thread http://www.forexfactory.com/showthread.php?t=240688

that can do anything you want with orders.

And this thread http://www.forexfactory.com/showthread.php?t=22087
maybe you can take Metatrader to work with you?
Thanks for the links. Would be nice to have it more automated than triple-entry trades. Not sure how feasible trading at work would be for me.

And thanks mbqb11 for the feedback... at least I know for now it'll do what I need it to.

I just tried about 5 times to move my stops on EURUSD and GPBUSD when I got home... eventually clued in markets are closed! Haha first week done.
  • #81,572
  • Edited 8:29pm Dec 3, 2010 7:19pm | Edited 8:29pm
And then I say to myself, just keep it simple with RN, PPZ and confluence.

Set the trap and wait for the bait to bite.

As we can see, I am confusing myself.

Any advice folks?

EDIT:
Self advice: Just go back to Jarroo's PPZ.
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  • #81,573
  • Dec 3, 2010 9:12pm Dec 3, 2010 9:12pm
Quoting Pinbar
And then I say to myself, just keep it simple with RN, PPZ and confluence.

Set the trap and wait for the bait to bite.

As we can see, I am confusing myself.

Any advice folks?

EDIT:
Self advice: Just go back to Jarroo's PPZ.
Keeping it simple is best. I'm probably going to post way too many charts in a row, but I've been watching EG and that weekly bar form. Sometimes I think it's good just to look at the peaks and troughs on a line chart, identify the trend, and decide do you want to trade countertrend.

What I personally don't like about that weekly PB is the close right at the BRN, FTA is pretty close, and that it is only at minor swing low to me. It is a tempting bar for sure though. I could see almost equal chances of the bar being pushed up or further rejection on the way to a lower low. I think the highest probability is if we can identify the trend on the higher (monthly and weekly) and find an entry on daily or 4H that is with the trend.

I drew a 4H TL and was watching this pair on 4H, and the scenario you drew out on the daily actually occurred on 4H at end of the day today. PB (small) with ppz, tl, ema, brn confluence. Too bad it was a late Fri bar.

Sorry to ramble and here's a slew of charts.
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  • #81,574
  • Edited 9:40pm Dec 3, 2010 9:21pm | Edited 9:40pm
Quoting Donkey
Keeping it simple is best....


Thanks D.

Hey, rambling is how we learn to get over these things.

Much appreciated, will read you post again and think about it, deeply.


EDIT: Donkey.

If we look at the Monthly like this, does it not look rather bullish to you?
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  • #81,575
  • Dec 3, 2010 10:04pm Dec 3, 2010 10:04pm
I hear you now, Donkey....I think I am over complicating things on multiple TF.

As Mike says, treat them all individually.


1: Weekly TF PPZ.

2: Check Monthly and weekly trend and PA.

3: Wait for Daily PA in the direction of the higher TF Trend & PA.

4: Pull the trigger and manage the trade at the FTA on the TF the setup occurred on.
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  • #81,576
  • Dec 4, 2010 12:16am Dec 4, 2010 12:16am
Quoting Pinbar
I hear you now, Donkey....I think I am over complicating things on multiple TF.

As Mike says, treat them all individually.


1: Weekly TF PPZ.

2: Check Monthly and weekly trend and PA.

3: Wait for Daily PA in the direction of the higher TF Trend & PA.

4: Pull the trigger and manage the trade at the FTA on the TF the setup occurred on.

That's what I "try" to do. I'm still working on my style and a proper set of rules, but one thing I want to do is stay with the trend as much as I can and trade the pullbacks. I still get trigger happy, but pull the trigger much less frequently.

As to the EG discussion...I agree that longer term (since 2000) we could be bullish (still above the 150 and 365 ema). I'm by no means an expert on TL's, but I see the monthly you drew as a little to steep for my taste. The steeper they are the more likely to be violated. I see the rising trendline more like on the chart below (of course this could be way off too). My current bearish bias could be seen as a long term retracement of that huge move up.

I would love to get a short entry off of 8500. I would watch the consolidation box on the monthly near 8000. After that there's not a lot of resistance until around 7250 - 7000....which lines up with 61.8 fib from big move up, which is a nice ultimate profit target.
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  • #81,577
  • Dec 4, 2010 1:02am Dec 4, 2010 1:02am
Quoting Pinbar
I hear you now, Donkey....I think I am over complicating things on multiple TF.

As Mike says, treat them all individually.


1: Weekly TF PPZ.

2: Check Monthly and weekly trend and PA.

3: Wait for Daily PA in the direction of the higher TF Trend & PA.

4: Pull the trigger and manage the trade at the FTA on the TF the setup occurred on.
Hey Pinbar,
Great Charts.
hey do you know why jarroo hasnt arrived for help yet.
Man it has been a lot of time,where is he.
I need help,we need help and, his guidance.
Hey Jarroo please, take the pain to answer the very last question i put for you.
I am desperate to learn from you.
Regards
Taz
  • #81,578
  • Dec 4, 2010 1:12am Dec 4, 2010 1:12am
Hey there Guys,
My Chart.
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  • #81,579
  • Dec 4, 2010 1:51am Dec 4, 2010 1:51am
Quoting Donkey
That's what I "try" to do....
Yeah, I hear you Donkey. Many thanks for your time.
Think I was just getting flustered with other things that are going on right now. We really have to be calm and together to trade or things fall apart real fast.

Thanks Again.
  • #81,580
  • Dec 4, 2010 1:54am Dec 4, 2010 1:54am
Quoting 666Doom
Hey Pinbar,
Great Charts.
hey do you know why jarroo hasnt arrived for help yet.
Man it has been a lot of time,where is he.
I need help,we need help and, his guidance.
Hey Jarroo please, take the pain to answer the very last question i put for you.
I am desperate to learn from you.
Regards
Taz

I think he is out chasing women after Supreme suggested it. LoL

Good for Jarroo.

We can work it out, or at least we can try, till Jarroo, Mike, Supreme or Ghous arrive.

I know you want advice from Jarroo, don't we all but, maybe there are other people that can help with the question.
If you only ask Jarroo, others will stand aside, even though they may be able to help.
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