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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

  • #82,501
  • Dec 14, 2010 11:48pm Dec 14, 2010 11:48pm
Quoting Pinbar
Thanks Mike.

I actually meant the 1.02000 area and as you say, it must have been the bears jumping on the weak buyers there.
Oh I wasn't aware you meant that first large push up. This is actually classic PA stuff. You get a stall out at the BRN(this case parity first time there in a long time , so as expected). THen price moves down slightly but the bears aren't there. Then you get a move above that last swing high and the true selling comes in shaking out all the weak sellers.

Best
Mike
  • #82,502
  • Dec 14, 2010 11:51pm Dec 14, 2010 11:51pm
Quoting mbqb11
Oh I wasn't aware you meant that first large push up. This is actually classic PA stuff. You get a stall out at the BRN(this case parity first time there in a long time , so as expected). THen price moves down slightly but the bears aren't there. Then you get a move above that last swing high and the true selling comes in shaking out all the weak sellers.

Best
Mike
Yes, that is what I meant.

Cutthroat business indeed.
  • #82,503
  • Edited 1:51am Dec 15, 2010 1:01am | Edited 1:51am
Hello j16 members

After reading for few days this interesting thread I made my first demo trade.
I took the trade - Pin Bar high was at resistance + Fibo 61.8. My Enter was at at Fibo 38.2 and wanted to Exit at Fibo 23.6. but after looking at risk (about 1400 pips) to reward (about 900 pips) I closed the trade.



ps. I'm going to take full bucket from your well of knowledge.
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  • #82,504
  • Edited 2:33am Dec 15, 2010 2:18am | Edited 2:33am
Hi guys,

maybe some1 can answer this question, every MT4 broker's that have different timezones will show the close of daily weekly candles differently,(eg. one broker might look like a pin bar and the other not) is there a suggested broker that most of u use as to not have this confusion.

thx on advanced

I have attached the 2 brokers platforms that i use. you can clearly see the difference between the daily charts here.
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  • #82,505
  • Dec 15, 2010 2:58am Dec 15, 2010 2:58am
Quoting T2Twell
Hi guys,

maybe some1 can answer this question, every MT4 broker's that have different timezones will show the close of daily weekly candles differently,(eg. one broker might look like a pin bar and the other not) is there a suggested broker that most of u use as to not have this confusion.

thx on advanced

I have attached the 2 brokers platforms that i use. you can clearly see the difference between the daily charts here.
Hey T2, this same question was asked many times. Me too, had worries about this. The suggestion was to trade what you see, as we trade price not charts. If you see a perfect setup on any broker just take it.

Personally me I prefer FxPro for my dailies and do not compare setup to any other broker's charts.
  • #82,506
  • Dec 15, 2010 3:24am Dec 15, 2010 3:24am
hi Adilius07,

thx for the clarification.
  • #82,507
  • Dec 15, 2010 4:18am Dec 15, 2010 4:18am
Hi guys

what was the consensus of opinion on the EU daily pin? Anyone take it? would have liked to have seen it push a bit higher so gave it a miss. Any thoughts/opinions?

kal
  • #82,508
  • Dec 15, 2010 4:24am Dec 15, 2010 4:24am
Quoting jarroo
There you go Hans. The I4+B (I23B) on the Weekly Eur/Chf.

This one shows the beauty of this setup, meaning how the I4B is aligned with a BRN, 130.00.

The stop loss placement, like with all IBs, is at the opposite end of the I4B. But you can gauge the setup by how Price reacts to the BRN. In this case, the 130.00 acted as Resistance. You can see on the Daily, no bar closed above the 130.00.


Ideally we would like to see them break hard and never look back, but this one came close and made sense why it did, what it did.
Hey Jarroo, thank you. I was a little bit disappointed yesterday that it did not work out like I expected (hard break). But it did what it was supposed to do. Next time I may trade a bar like this.
Thanks J16, Sam Seiden, Udine and Jacko
  • #82,509
  • Edited 4:59am Dec 15, 2010 4:47am | Edited 4:59am
Impending IPB resting on 1.33 on the 4H EurUsd. The bar is decent I think; if it closes above (but not too much) 1.33,a long play is possible.

Confluence would be a 61.8%fib retrace of the most recent upswing trend beginning 1.32 or thereabout.
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  • #82,510
  • Dec 15, 2010 5:03am Dec 15, 2010 5:03am
Quoting ertorque
Impending IPB resting on 1.33 on the 4H EurUsd. The bar is decent I think; if it closes above (but not too much) 1.33,a long play is possible.

Confluence would be a 61.8%fib retrace of the most recent upswing trend beginning 1.32 or thereabout.
It'll need to close above 1.33 to show true strength (like you said)

g.
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I believe . . .
  • #82,511
  • Dec 15, 2010 5:36am Dec 15, 2010 5:36am
Quoting Osman
Hey Jarroo !!!

Im trying my best to take the best of the best... sometimes you see a big BEOB and you just wanna trade it..its like something impulsive..you see two confluence and.. Im in.. but im slowlyyyy becoming more picky, long way to go yet.

Ive gotta work bit more with the story of the setup, im missing some trades cause i see a very near FTA, but the story of the setup will make it valid, UJ 4hr BEOB we had on Monday was an example.

Thx for your words, buddy.
Keep at it Os . . .you'll get there, friend .
Indicators show the past. Price Action "Indicates" the future.
  • #82,512
  • Dec 15, 2010 5:43am Dec 15, 2010 5:43am
Anyone managed to take a position on GU breaking (funnel) upward channel on the retest ?

Ive just woke up and seen this... Ive gotta wake up earlier next year
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  • #82,513
  • Dec 15, 2010 5:48am Dec 15, 2010 5:48am
Long trade E-G is working out quite nicely, price pulled back @ the high of the daily BUOB. It took me 2 attempts on the 10m-TF, first attempt price stopped me out on a nice 10m-BUOB for a full bar loss of 7 pips, second attempt also at one of the previous 1H-bar highs got me in again with more succes ........
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Pipcrawler
  • #82,514
  • Dec 15, 2010 5:56am Dec 15, 2010 5:56am
Quoting Be Cool
i must have missed that -but which post are you referring to?thanks

I think it was this one, Be Cool.

Quoting jarroo
I should have posted this earlier.

Daily PB off the Weekly BEOB previous bar Low.


You all know about the previous bar Lows on BEOBs (previous bar Highs on BUOBs). Hopefully this is a good example that explains it.

Any one know where my targets are??

gotta go


be back later.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #82,515
  • Dec 15, 2010 6:03am Dec 15, 2010 6:03am
Quoting ghous
It'll need to close above 1.33 to show true strength (like you said)

g.

The 3 hour IPB closed above . . .


G-Bars Rule . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #82,516
  • Edited 6:27am Dec 15, 2010 6:09am | Edited 6:27am
Quoting Osman
Anyone managed to take a position on GU breaking (funnel) upward channel on the retest ?

Ive just woke up and seen this... Ive gotta wake up earlier next year

Very nice story you got there Os . .

Classic Mike formation breakout / pullback.
Indicators show the past. Price Action "Indicates" the future.
  • #82,517
  • Dec 15, 2010 6:26am Dec 15, 2010 6:26am
Quoting jarroo
Very nice story you got the Os . .

Classic Mike formation breakout / pullback.
and another hopefully one last xmas gift
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  • #82,518
  • Dec 15, 2010 6:28am Dec 15, 2010 6:28am
Quoting mbqb11
and another hopefully one last xmas gift
Sweet . . . very nice.


Could Price be turning over to the north side?
Indicators show the past. Price Action "Indicates" the future.
  • #82,519
  • Dec 15, 2010 6:36am Dec 15, 2010 6:36am
Hi
Could anyone tell me how to set take profit areas when as in the gbpchf it is at the lowest since 1987 on my brokers platform.
Just thinking round numbers maybe
TIA
Grahame
  • #82,520
  • Dec 15, 2010 6:41am Dec 15, 2010 6:41am
Quoting mbqb11
and another hopefully one last xmas gift
Argggg .. this is my alpari live chart .. r u using alpari uk ?

I was waiting for a close on MB which showed the same candle setup but 30 pips higher

EDIT : Yeah ure using alpari uk.. it seems live and demo feed are diff
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