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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

  • #83,041
  • Dec 19, 2010 5:07am Dec 19, 2010 5:07am
Quoting ghous
Here's one for Hans, (daily)
g.
Great, thank you, Ghous!

I like the fact that it's off the 150(?)EMA, some serious flip zone and encompasses the preceding consolidation with a higher close. What probably subtracts momentum is the steep downmove and the fact that it did not or closed only slighthly above the BRN and still has some PPZ to fight right above. If it breaks, we've got some nice potential support and the FTA would be the first orange line on my chart. The FTA equals some serious resistance, so this would probably be an area where I would take 1/2 profit and let the other 1/2 in the trade. Would also depend on how the chart looks like to the left. If it's off a 61.8% for example I would be keen to catch a runner.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #83,042
  • Dec 19, 2010 5:07am Dec 19, 2010 5:07am
Quoting Pinbar
Finding it is not what this is about.
Did not make it past first FTA, perhaps you can help me out here and explain the rules ?
  • #83,043
  • Dec 19, 2010 5:07am Dec 19, 2010 5:07am
Quoting ghous
Here's another one (go for it everyone. It would be a treat to see a silent lurker jump on this one )

(daily)

g,
i am not sure
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A chart helps those who can read it.
  • #83,044
  • Dec 19, 2010 5:07am Dec 19, 2010 5:07am
Quoting Paj
Hi Ghous, found it - I hope - did not make it past first FTA

Paj
lol,

that's cheating.

You don't go back to your charts to find the setup, you try working out where price is going on the attached chart

but yeah this one did get rejected at least initially at the FTA.

g.
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I believe . . .
  • #83,045
  • Dec 19, 2010 5:08am Dec 19, 2010 5:08am
Quoting geniusztc
i am not sure
Yup G that's it.

You're getting it.

How does that feel.
I believe . . .
  • #83,046
  • Dec 19, 2010 5:14am Dec 19, 2010 5:14am
That bar came off a nice area and is large but, I am not sure how it will react at the FTA. Depending on that, there are two possibilities, I think.

I am leaning to the bullish side.
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  • #83,047
  • Dec 19, 2010 5:14am Dec 19, 2010 5:14am
Quoting ghous
WIPG was...
Do you mean what WIPG stands for? Where Is Price Going.

Thanks for the great examples, Ghous.
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,048
  • Dec 19, 2010 5:19am Dec 19, 2010 5:19am
Quoting Pinbar
That bar came off a nice area and is large but, I am not sure how it will react at the FTA. Depending on that, there are two possibilities, I think.

I am leaning to the bullish side.
Spot on PB

g.
I believe . . .
  • #83,049
  • Dec 19, 2010 5:19am Dec 19, 2010 5:19am
Quoting HanSolo
Do you mean what WIPG stands for? Where Is Price Going.

Thanks for the great examples, Ghous.
stupid me.

lol
I believe . . .
  • #83,050
  • Dec 19, 2010 5:22am Dec 19, 2010 5:22am
Quoting ghous
Here's another one (go for it everyone. It would be a treat to see a silent lurker jump on this one )

(daily)

g,
Here is my go:
http://i.imgur.com/1665u.png
  • #83,051
  • Dec 19, 2010 5:24am Dec 19, 2010 5:24am
Quoting ghous
Yup G that's it.

You're getting it.

How does that feel.
i remember some words in the book "TRADING IN THE ZONE": you’re dissatisfied with the difference between what you perceive as the unlimited potential to make money and what you end up with on the bottom line.

i can not be a consistent winner ,just because i have no patience to wait for the good chance even though there are always good chances like the charts you given.
A chart helps those who can read it.
  • #83,052
  • Dec 19, 2010 5:24am Dec 19, 2010 5:24am
Quoting Paj
Did not make it past first FTA, perhaps you can help me out here and explain the rules ?

I thought you had been around here and new what we are doing, my fault.

Ok, we are looking at the former support and resistance areas and trying to work out where a PA bar may make it to, the FTA, first trouble Area, and from there on we are trying to manage the trade, working out where to move our SL and take profit areas.
  • #83,053
  • Dec 19, 2010 5:25am Dec 19, 2010 5:25am
Quoting HanSolo
Great, thank you, Ghous!

I like the fact that it's off the 150(?)EMA, some serious flip zone and encompasses the preceding consolidation with a higher close. What probably subtracts momentum is the steep downmove and the fact that it did not or closed only slighthly above the BRN and still has some PPZ to fight right above. If it breaks, we've got some nice potential support and the FTA would be the first orange line on my chart. The FTA equals some serious resistance, so this would probably be an area where I would take 1/2 profit and let the...
the best part about this setup was the free space which you and fxgroup correctly identified.

It did make it to the PPZ.

g.
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I believe . . .
  • #83,054
  • Dec 19, 2010 5:27am Dec 19, 2010 5:27am
Quoting ghous
Spot on PB

g.

Thanks Ghous, it is all due to you guys and the James16's videos, this is what the Big Guy is doing all the time.

Hansolo is also a great inspiration.


My back is playing up so, I am going to crash out for a bit.

many thanks for the experience you made time to give us today ghous.
  • #83,055
  • Dec 19, 2010 5:29am Dec 19, 2010 5:29am
Quoting lallous
Here is my go:
http://i.imgur.com/1665u.png
After that initial bounce off the FTA it was pretty much a roller coaster ride, it did trickle down but not exactly in a smooth way.

This explains why getting carried away on your setups can be detrimental. The bar's great, the location's great yet the space factor makes it wobble like boxing clown. lol

g.
I believe . . .
  • #83,056
  • Dec 19, 2010 5:31am Dec 19, 2010 5:31am
Quoting Pinbar
Thanks Ghous, it is all due to you guys and the James16's videos, this is what the Big Guy is doing all the time.

Hansolo is also a great inspiration.


My back is playing up so, I am going to crash out for a bit.

many thanks for the experience you made time to give us today ghous.
Darn! Go have rest bro,

See ya later,

Actually I got a marketing report to finish myself..Eek! :nerd:

g.
I believe . . .
  • #83,057
  • Dec 19, 2010 5:35am Dec 19, 2010 5:35am
Quoting geniusztc
i remember some words in the book "TRADING IN THE ZONE": you’re dissatisfied with the difference between what you perceive as the unlimited potential to make money and what you end up with on the bottom line.

i can not be a consistent winner ,just because i have no patience to wait for the good chance even though there are always good chances like the charts you given.
Have patience G,

Learning to wait for the right setups is extremely important, yet it takes the most time to master. Hang in there bro...you're doing great

g.
I believe . . .
  • #83,058
  • Dec 19, 2010 5:40am Dec 19, 2010 5:40am
Quoting ghous
After that initial bounce off the FTA it was pretty much a roller coaster ride, it did trickle down but not exactly in a smooth way.

This explains why getting carried away on your setups can be detrimental. The bar's great, the location's great yet the space factor makes it wobble like boxing clown. lol

g.
Thanks again g.
  • #83,059
  • Dec 19, 2010 5:58am Dec 19, 2010 5:58am
for helping each other.
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A chart helps those who can read it.
  • #83,060
  • Dec 19, 2010 6:16am Dec 19, 2010 6:16am
Quoting Pinbar
Hansolo is also a great inspiration.
This really flatters me, PB. Thanks for your kind words and for making this thread such a great learning experience.

Quoting ghous
the best part about this setup was the free space which you and fxgroup correctly identified.

It did make it to the PPZ. http://cdn.forexfactory.com/images/s...im/winking.gif

g.
The lack of bar highs/lows on its way down gives me a whole new perspective on space. One can clearly see the difference to the other setup you posted.
Thanks J16, Sam Seiden, Udine and Jacko
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