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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

  • #83,121
  • Dec 20, 2010 3:15am Dec 20, 2010 3:15am
Quoting Osman
GM Everyone..

Geniusztc, what was your trigger on that setup ?

Os.
resistance @9905 and 9930 .

man ,why did you appear before i lost money ?
A chart helps those who can read it.
  • #83,122
  • Dec 20, 2010 3:23am Dec 20, 2010 3:23am
Quoting geniusztc
resistance @9905 and 9930 .

man ,why did you appear before i lost money ?
Sorry mate was dealing with some problems with the phone company..changed company and they left me without my phone number

You have resistance great..but resistance on itself isn't a trigger... we need a PA (Price Action) setup at that resistance with confluence( ema, fib, div etc..) to make it a valid trade.

My 2 cents.

Os.
Trade Smart
  • #83,123
  • Dec 20, 2010 3:28am Dec 20, 2010 3:28am
Quoting geniusztc
resistance @9905 and 9930 .

man ,why did you appear before i lost money ?
I think a better question is, why are you trading real money before you have traded a demo account successfully on the Weekly and Daily time frames and been in profit for 3 months.

I have mentioned this in answer to your pms, if you chose not to listen, what else can anyone do?

There is a good saying in English, You can take a horse to water but cannot make it drink.


Look at the H4 TF.
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  • #83,124
  • Dec 20, 2010 3:29am Dec 20, 2010 3:29am
Quoting Osman
Sorry mate was dealing with some problems with the phone company..changed company and they left me without my phone number

You have resistance great..but resistance on itself isn't a trigger... we need a PA (Price Action) setup at that resistance with confluence( ema, fib, div etc..) to make it a valid trade.

My 2 cents.

Os.
thank you. i will be more careful.
A chart helps those who can read it.
  • #83,125
  • Dec 20, 2010 3:47am Dec 20, 2010 3:47am
Quoting Pinbar
I think a better question is, why are you trading real money before you have traded a demo account successfully on the Weekly and Daily time frames and been in profit for 3 months.

I have mentioned this in answer to your pms, if you chose not to listen, what else can anyone do?

There is a good saying in English, You can take a horse to water but cannot make it drink.


Look at the H4 TF.
really thank you Pinbar .
but there is a good saying in china. Don't be an armchair strategist. so i think practice is important. and another important point is ,lol, you know ,if i lost the 200 dollars , it does not matter .
and , i only trade 0.01 lots one time ,so i did not lose too much.
watch higher TF.yes ,i will .
A chart helps those who can read it.
  • #83,126
  • Dec 20, 2010 3:55am Dec 20, 2010 3:55am
Quoting geniusztc
really thank you Pinbar .
but there is a good saying in china. Don't be an armchair strategist. so i think practice is important. and another important point is ,lol, you know ,if i lost the 200 dollars , it does not matter .
and , i only trade 0.01 lots one time ,so i did not lose too much.
watch higher TF.yes ,i will .

Well, you can say that if you like, it is of no concern to me.

If you want to practice losing money, that is your concern.
  • #83,127
  • Dec 20, 2010 3:58am Dec 20, 2010 3:58am
Quoting Pinbar
You can take a horse to water but cannot make it drink.
A good one, need to remember. We say (although not as polite as English one) " If you can't shit don't torture your ass..."

ok, excuse my french just bored a little...
  • #83,128
  • Dec 20, 2010 3:59am Dec 20, 2010 3:59am
Quoting Pinbar
Thanks Jarroo

Well, at first glance, this whole area looks like a 300 pip PPZ.

For me to take a trade on this, it is going to have to break above or below the two lines on my chart and show me some decent PA off maybe somewhere in the middle.
That's excellent Pb. A break and close above or below those levels.

Conversely, it would look like this chart.

Let me go to the Daily TF where the PPZs look clearer . .give me a sec.
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Indicators show the past. Price Action "Indicates" the future.
  • #83,129
  • Dec 20, 2010 4:00am Dec 20, 2010 4:00am
Quoting Pinbar
Well, you can say that if you like, it is of no concern to me.

If you want to practice losing money, that is your concern.
A chart helps those who can read it.
  • #83,130
  • Dec 20, 2010 4:12am Dec 20, 2010 4:12am
Quoting jarroo
That's excellent Pb. A break and close above or below those levels.

Conversely, it would look like this chart.

Let me go to the Daily TF where the PPZs look clearer . .give me a sec.
Here's the Daily scenario . .
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Indicators show the past. Price Action "Indicates" the future.
  • #83,131
  • Dec 20, 2010 4:16am Dec 20, 2010 4:16am
Quoting jarroo
Here's the Daily scenario . .
Continued . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #83,132
  • Dec 20, 2010 4:18am Dec 20, 2010 4:18am
I don't see why anyone has to practice losing real money.

I think we practice making money on demo and when we are proficient at it, we then proceed to make real money.

Not only will losing real money make you broke but I think it will affect our psychology once we trade real money.
  • #83,133
  • Dec 20, 2010 4:18am Dec 20, 2010 4:18am
here is a setup that i thought a lot about it,finally discussed with mike and decided to pass but it looks like working well.the breakout line was also my management level
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  • #83,134
  • Dec 20, 2010 4:28am Dec 20, 2010 4:28am
Quoting jarroo
Continued . . .
So we have 3 possible areas to look for PA at the ABC areas and 3 targets which are also ABC. For example if we take a short at A the target will be B.
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  • #83,135
  • Dec 20, 2010 4:30am Dec 20, 2010 4:30am
Quoting g_j_hook@yah
yep, its hitting my last line of defence, the 1.5550-60 minor flip zone. iv tightened things up with a 50 pip TSL so if it does go back to retest 1.5500 as support without stopping me out first my stop will kick in if it holds.
stopped out of my gold short for a nice profit this morn also, but hanging in on my eu/us short with a SL just above 1.3200.....
Whatever happens im gonna close all tradesthis week anyway and start fresh after xmas.

cool way to get ur name!!! at last i get it. cheers

Yeah . .if that Friday's close, which would have been the Weekly's close as well, closed below the 1.5500, I would have like its chances. Since last week Price's close stayed above the 1.5500, I still view it at Support.

Still not a bad trade there, jon . . It hit its targets . . considering the thin time of day.
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Indicators show the past. Price Action "Indicates" the future.
  • #83,136
  • Dec 20, 2010 4:33am Dec 20, 2010 4:33am
Quoting fxgroup
This is mine.

Yes that's real good fxg . .
Indicators show the past. Price Action "Indicates" the future.
  • #83,137
  • Dec 20, 2010 4:34am Dec 20, 2010 4:34am
Pinbar played out nicely. It did not close within the previous bar but still on
a very good price pivot zone. Plus a nice ascending wick pattern with the next 3 bars which could be used to minimize risk by setting the SL under each new low.
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  • #83,138
  • Dec 20, 2010 4:34am Dec 20, 2010 4:34am
Quoting Pinbar
So we have 3 possible areas to look for PA at the ABC areas and 3 targets which are also ABC. For example if we take a short at A the target will be B.

Yes, depending on the traffic we face. But you can see ABC are pretty clear PPZ levels.
Indicators show the past. Price Action "Indicates" the future.
  • #83,139
  • Dec 20, 2010 4:36am Dec 20, 2010 4:36am
Quoting geniusztc
hello,everyone .here is my trade plan on AU. as we can see there are some resistances @ 0.9910, i am short AU @9900 ,stop loss @ 9930( 3 dollars) ,and take profit @ 9862(3.8 dollars) .
give me your criticism。

Hey geniusztc . . .Can you show the Daily PPZ levels on your Hourly chart? this may help.
Indicators show the past. Price Action "Indicates" the future.
  • #83,140
  • Dec 20, 2010 4:41am Dec 20, 2010 4:41am
Quoting Scot Pippin'
Been awhile, glad to see the J16 crew still holding down the fort. I like this daily off the 50% Fib, 365/150 EMA and the Daily pivot.

Hey Scotty.



Long time no see, friend.
Indicators show the past. Price Action "Indicates" the future.
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