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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

  • #83,141
  • Dec 20, 2010 6:46am Dec 20, 2010 6:46am
Quoting jarroo
Yes, depending on the traffic we face. But you can see ABC are pretty clear PPZ levels.

I hear you..

Many thanks for your time Jarroo.

EDIT:

I am learning how to identify these areas more proficiently on the Daily then fine tune them on the weekly.
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  • #83,142
  • Dec 20, 2010 6:47am Dec 20, 2010 6:47am
Quoting Pinbar
I hear you..

Many thanks for your time Jarroo.

Should be fun to see how it all plays out.
Indicators show the past. Price Action "Indicates" the future.
  • #83,143
  • Dec 20, 2010 6:52am Dec 20, 2010 6:52am
Quoting jarroo
Should be fun to see how it all plays out.
Yes, I will keep it in mind.

Thanks again.
  • #83,144
  • Dec 20, 2010 6:55am Dec 20, 2010 6:55am
Quoting kayhan7070
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

The clearer the line in the sand (Support or Resistance), the better for those types of breakouts.

I like it as a management line . . .should act as Resistance. .
Indicators show the past. Price Action "Indicates" the future.
  • #83,145
  • Dec 20, 2010 7:01am Dec 20, 2010 7:01am
Quoting Pinbar
Yes, I will keep it in mind.

Thanks again.





Look how nice this one worked out on the Daily Usd/Chf. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #83,146
  • Dec 20, 2010 7:19am Dec 20, 2010 7:19am
Quoting jarroo




Look how nice this one worked out on the Daily Usd/Chf. . .
Yes, it seems that the market is rather insecure in it's action and is mostly looking for confirmation of support or resistance before it goes on its way.

great stuff Jarroo...I feel the time is getting nearer.
  • #83,147
  • Dec 20, 2010 7:24am Dec 20, 2010 7:24am
Quoting Pinbar
Yes, it seems that the market is rather insecure in it's action and is mostly looking for confirmation of support or resistance before it goes on its way.

great stuff Jarroo...I feel the time is getting nearer.

I agree Pb. Price seems to want to do that at times. Price breaks and closes below a clear, strong Suppot level . .and then it goes back up just to make sure its now Resistance . . . cool stuff.
Indicators show the past. Price Action "Indicates" the future.
  • #83,148
  • Dec 20, 2010 7:27am Dec 20, 2010 7:27am
break though on EURGBP? maybe not.
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A chart helps those who can read it.
  • #83,149
  • Dec 20, 2010 8:04am Dec 20, 2010 8:04am
Quoting kayhan7070
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
Hey kayhan, did you discuss it on this thread or in the PF? Would you mind posting a link to Mike's opinion?

I thought about this one too but skipped it because I just did not know what to make out of it (besides from seeing this as a possible continuation BEOB of the 1.35).
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,150
  • Dec 20, 2010 8:24am Dec 20, 2010 8:24am
GBP/CHF was a pin bar on friday. I'm long this pair at 1.50
Can someone please recommend if I recognized this pin bar correctly?
  • #83,151
  • Dec 20, 2010 8:30am Dec 20, 2010 8:30am
Quoting torontobboy2
GBP/CHF was a pin bar on friday. I'm long this pair at 1.50
Can someone please recommend if I recognized this pin bar correctly?
Hi toronto, yes, it is a PB off the 1.5. But not the biggest compared to the latest down move. Plus it's trading right into some PPZ @ 1.51. Be careful. Did you enter it as a touch trade on the retrace?
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Thanks J16, Sam Seiden, Udine and Jacko
  • #83,152
  • Dec 20, 2010 8:38am Dec 20, 2010 8:38am
Quoting HanSolo
Hi toronto, yes, it is a PB off the 1.5. But not the biggest compared to the latest down move. Plus it's trading right into some PPZ @ 1.51. Be careful. Did you enter it as a touch trade on the retrace?

yes, i entered at 1.500 and set limit at 1.5090
PinBars are great but I guess I need a lot more practice..
  • #83,153
  • Dec 20, 2010 8:43am Dec 20, 2010 8:43am
Quoting torontobboy2
GBP/CHF was a pin bar on friday. I'm long this pair at 1.50
Can someone please recommend if I recognized this pin bar correctly?
Hey toronto, what's up.

Agree with HS on this. The best thing to do with these setups is to wait for the break of the high + a buffer.This particular pin bar closed just below traffic and as HS said, was relatively small compared to the recent down move.

It hasn't failed technically, but we need to take high quality setups to build our confidence. I wouldn't classify this as a high quality setup.

Hope this helps,

-- Danny
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  • #83,154
  • Dec 20, 2010 8:49am Dec 20, 2010 8:49am
Quoting torontobboy2
yes, i entered at 1.500 and set limit at 1.5090
PinBars are great but I guess I need a lot more practice..
I know how hard it is to be patient in the beginning. But you should really wait for bar confirmation. This could mean retrace PA at a lower timeframe or a break of the bar itself.

Furthermore the close of a bar is very important (look at Jarroo's invaluable artwork on this thread again and again). If this PB would have closed above the 0.51 or even the 0.52 (making it a BUOB) would have made it a good trade IMHO. This would have taken out even more resistance around 0.5150. But at the moment there's just too much standing against it - for me at least.
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,155
  • Dec 20, 2010 9:00am Dec 20, 2010 9:00am
Quoting HanSolo
Hey kayhan, did you discuss it on this thread or in the PF? Would you mind posting a link to Mike's opinion?

I thought about this one too but skipped it because I just did not know what to make out of it (besides from seeing this as a possible continuation BEOB of the 1.35).
hey han

we discussed it in the PF. i am sorry but don't know how to do it,if you want i can copy/paste the discussion here
  • #83,156
  • Dec 20, 2010 9:02am Dec 20, 2010 9:02am
Quoting kayhan7070
hey han

we discussed it in the PF. i am sorry but don't know how to do it,if you want i can copy/paste the discussion here
No thanks, I think that would be against the PF rules. I will look for it myself. Thank you anyway.

EDIT: Found it on the general discussion thread.
Thanks J16, Sam Seiden, Udine and Jacko
  • #83,157
  • Dec 20, 2010 9:17am Dec 20, 2010 9:17am
Quoting HanSolo
No thanks, I think that would be against the PF rules. I will look for it myself. Thank you anyway.

EDIT: Found it on the general discussion thread.

ohh yeah,it can be against the PF rules
  • #83,158
  • Dec 20, 2010 9:41am Dec 20, 2010 9:41am
Quoting geniusztc
lose 10 pips.
cheers!
however, keep today a winning day。

and good luck to myself about exam tomorrow. LOL .
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A chart helps those who can read it.
  • #83,159
  • Dec 20, 2010 9:50am Dec 20, 2010 9:50am
Watching this area for some PA. Will see how GBP/JPY closes in relation to the 130.00 area.

-- Danny
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  • #83,160
  • Dec 20, 2010 9:57am Dec 20, 2010 9:57am
WAIT?!
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A chart helps those who can read it.
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