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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

  • #84,421
  • Edited 8:07am Jan 4, 2011 7:51am | Edited 8:07am
eu/us 1H bar has only got 10 mins bur i would love to see it close a BEOB. lol

EDIT: ah well you cant have everything! lol

maybe the 4h eu/nz bar will close a pin..
PATIENCE... DISCIPLINE
  • #84,422
  • Jan 4, 2011 7:57am Jan 4, 2011 7:57am
Quoting fxprocessor
Hi GJ

I took a break above the double inside bar for a very quick 70 pips. My thought process was that we had nice consolidation at a vbrn and GBPCHF is a pair I like to trade inside bars/volatility break outs on. My TP was modest but a positive start to the week/year.

Cheers
Fxp
Nice Trade fxprocessor.

0908
  • #84,423
  • Jan 4, 2011 8:17am Jan 4, 2011 8:17am
Thought too much about this one and decided not to take it because of smallish PB, but mainly large spread with broker. This is a good example of why we need to look at the story behind price movement.

There is a nice steady down movement (10 bear bars in a row, only 1 large one though). Sellers keep pushing price to an all time low. Where do you think the big boys will be looking to take some profit? 2.0000 looks like a good spot. Good place to test this down trend. My feed shows 3 bars with closes on or above 2.0000. Mix in a little PA and wala.
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  • #84,424
  • Jan 4, 2011 8:19am Jan 4, 2011 8:19am
Quoting Bemac
Man You got All of these Nailed.

I just hope I still belive in another week or two.

Tounge in cheek & I know Mike & Jarroo are deciphering Yours whilst hovering & protecting thiers.

Why? Why subscibe to the "I can Beat the Seasonal" Dec 15 - Jan 15.

Stand Aside & kiss a Kid. {Grandkid or Nephew} if you have to.

Late (3rd week) of January will offer some TA. Not Before.

... It's Christmass time in the City...

Turn & Hug. I Mean it.
Hi Bemac, i understand the issue here more or less. i was wondering if you view the PA on all TFs as useless at such low volume? i was thinkin that on smaller TFs (H1 and lower) it would be better?? low volume made the bar, low volume triggered the bar and so low volume could take price to where we would expect it to go? i have stayed away from D1 etc,as i can see too much opportunity for things to go wrong once the trade has triggered. Am i wrong to think this way?? your view,and all seniors, would be appreciated.

jon
PATIENCE... DISCIPLINE
  • #84,425
  • Jan 4, 2011 8:19am Jan 4, 2011 8:19am
Can someone direct me to a link for the indicator that makes Sunday bars a different color? Thanks.
  • #84,426
  • Edited 8:41am Jan 4, 2011 8:30am | Edited 8:41am
A+++ again. Any comments or criticism is welcome

http://cdn.forexfactory.com/attachme...1&d=1294151307

EDIT: Oh shoot I take that back. I don't fade BUOB's no matter what. I missed this totally. So I cancel/. tired or something, how could I miss that...
  • #84,427
  • Jan 4, 2011 8:45am Jan 4, 2011 8:45am
Adi, first of all, see the traffic in blue.
The buob 2 bars before was better

Edit: my fta was too fast signed. I hope you understand my point, we are trading into a minor ppz.
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  • #84,428
  • Jan 4, 2011 8:48am Jan 4, 2011 8:48am
Quoting Thierry
Adi, first of all, see the traffic in blue.
The buob 2 bars before was better
I canceld it due to the BUOB right before this PB. Missed it, I don't fade them. That blue box that you have, I don't have it - those areas were delt with already as I see them. I don't pay attention to certain PPZ on purpose, this is all written in my plan. Trying to make my trading as objective as possible. So I have valid PPZ and not valid PPZ something like this.

If there was no BUOB it would have been nice for me.

Oh and everything in past always looks better, by the way! this is one interesting phenomenon I have noticed... Which is I now think has no relevance, looking back is nice, and has like 99% win rate but has little to no help when the current setups formes... if that PB would reach the FTA I gurantee it will look fantastic to you in a few months from today

Thanks for yout comments Thierry, going to wait for other opportunity
  • #84,429
  • Edited 9:13am Jan 4, 2011 8:53am | Edited 9:13am
Hi guys,

This is the trade I like today...

We´ve got..

+Rejection from the 1.75 area BRN, possible retest after the breakout
+Divergence, making lower highs and higher highs on RSI
+61.8 Fib from last swing and 38.2 from 1.80 swing
+We´ve got the 150ema above
+Nice big PB
+Space for a down move

My 1st FTA will be around 1.7360 although due to the size of PB and confluences I think we can get lower.

- 15 pips spread on my broker
- Very strong bullish move before it.

Comments are welcomed.

Os.
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Trade Smart
  • #84,430
  • Jan 4, 2011 8:56am Jan 4, 2011 8:56am
Quoting kwikwis
PPZ FTA hit i am all out,
Congrats FXgroup!
Me too!
Nothing personal,just business
  • #84,431
  • Jan 4, 2011 9:07am Jan 4, 2011 9:07am
wow if this close like this..everything to me says its Super Triple A Five Star trade



Quoting Osman
Hi guys,

This is the trade I like today...

We´ve got..

+Rejection from the 1.75 area BRN, possible retest after the breakout
+Divergence, making lower lows and higher highs on RSI
+61.8 Fib from last swing and 38.2 from 1.80 swing
+We´ve got the 150ema above
+Nice big PB
+Space for a down move

My 1st FTA will be around 1.7360 although due to the size of PB and confluences I think we can get lower.

- 15 pips spread on my broker
- Very strong bullish move before it.

Comments are welcomed.

Os.
  • #84,432
  • Jan 4, 2011 9:10am Jan 4, 2011 9:10am
Quoting Adilius07
I canceld it due to the BUOB right before this PB. Missed it, I don't fade them. That blue box that you have, I don't have it - those areas were delt with already as I see them. I don't pay attention to certain PPZ on purpose, this is all written in my plan. Trying to make my trading as objective as possible. So I have valid PPZ and not valid PPZ something like this.

If there was no BUOB it would have been nice for me.

Oh and everything in past always looks better, by the way! this is one interesting phenomenon I have noticed... Which is...
Those areas have not been 'dealt with' already Adi.

The close on PA bars is very important. For me it can be the trade maker/breaker. If I simplify the 'areas' down to the 9500 RN, notice how the pin bar low touches the RN and closes above it. The close is above is not a great sign of bearish strength. Had it closed below the 9500 the BUOB would not have been too much of a worry at all, because then you have the added protection from the 9500 quite possibly acting as resistance.

The BUOB in comparison is a much better trade. Do you see why? Notice the strong close on the BUOB above the 9500. It wasn't a coincidence that price didn't retrace within the BUOB. the 9500 acted as support. Furthermore, the strong close hinted before hand what the bulls were looking to do.

The close is important. Period.

g.
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I believe . . .
  • #84,433
  • Jan 4, 2011 9:11am Jan 4, 2011 9:11am
Hey guys, first time poster. I'll try and more properly introduce myself later.

I remember James mentioning once that he used a website that would send him a text message when price hit a certain level on a certain pair. Do you guys use something like that, and if so, could you hook me up with the site?

Thanks alot.
  • #84,434
  • Jan 4, 2011 9:12am Jan 4, 2011 9:12am
Swing high 2 hourly BEOB ringing warning bells for a decent pull back to Below PPZ .. agree?
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  • #84,435
  • Jan 4, 2011 9:12am Jan 4, 2011 9:12am
Quoting KissFan
BTW, if you new guys are wondering why I didn't just buy EJ down around 109 it is because I am already exposed to euro on the long side vs other money. My charting isn't perfect and I always take into acct that I could be wrong. There is no reason to over extend myself in this crazy atmosphere.


K.I.S.S.

Buying @ 109 was incredible.

I came in right there, stop @ 108.75, closed half and moved stop to B/E @ 109.44, final target was 109.90....

excellent R/R


edit: only risked 0.5% because of the season
Many choose unhappiness over uncertainty.
  • #84,436
  • Jan 4, 2011 9:13am Jan 4, 2011 9:13am
What a beautiful Jim's classic chart!
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Nothing personal,just business
  • #84,437
  • Jan 4, 2011 9:14am Jan 4, 2011 9:14am
Quoting torontobboy2
1. How much data should I be looking at when drawing DAILY ppz, 3/4/6 months?
2. still waiting for book recommendations (please see my previous post)
Hey toronto

You have both major and minor PPZ

So sometimes a PPZ can be a few days, sometimes a few years. There isn't a set specific thing. It depends on each chart. With time and practice it gets easier and you will spot them very quickly

As for books, I have said many times Pring on price is the only technical book I tend to recommend. It can help lay a foundation on certain topics, but it doesn't really teach one how to apply anything. If you are just looking for some good reads that are better then any technical book out there try
Pit bull, Market wizard series, Trade your way to financial freedom(only for the topics of expectancy and understanding ones method not for the trading topics), Reminiscences of a stock operator, and for a very simplistic approach to trader psychology Trading in the zone(i didn't like this book but many seem to think it helped them)

Best
Mike
  • #84,438
  • Jan 4, 2011 9:15am Jan 4, 2011 9:15am
Quoting Adilius07
I canceld it due to the BUOB right before this PB. Missed it, I don't fade them. That blue box that you have, I don't have it - those areas were delt with already as I see them. I don't pay attention to certain PPZ on purpose, this is all written in my plan. Trying to make my trading as objective as possible. So I have valid PPZ and not valid PPZ something like this.

If there was no BUOB it would have been nice for me.

Oh and everything in past always looks better, by the way! this is one interesting phenomenon I have noticed... Which...
Hi Adi,

I am a newbie. If I may ask, why would the BuOB change your view on the setup? Is it that the previous bar high (acting as support) of the BuOB that Jarroo kindly showed us all the time? It is where I consider the FTA might be.

By the way, I also noticed that the PB failed to close below the RN 0.9500, showing some weakness to me.

Thanks for posting and let's learn & gain more pips in this new year.

Cheers,
Kristopher
Dreams are hard to follow, but don't let anyone, tear them away...
  • #84,439
  • Jan 4, 2011 9:19am Jan 4, 2011 9:19am
Quoting TPaul
A nice daily BUOB forming at a swing low on GBPJPY and GBPAUD... caused by a strong manufacturing PMI. Will see how this closes at the end of day.

Any thoughts?
Hey Tpaul

Long time to go on the dailies, but I don't see BUOBs. I see BUBs. A buob must have a lower low then the previous bar.

Let me know if you have trouble with that or if you have something different
Mike
  • #84,440
  • Jan 4, 2011 9:23am Jan 4, 2011 9:23am
Hey Ghous, thanks for your comments, can you please clarify why have you marked those areas right there, not a little higher or a little lower, or the whole area?

Will you keep your opinion if this shoots all the way down? I mean no offence, but I really want to be objective...

Objective to me is having some kind of rule for plotting those areas, not just to sound good and look good but to make money (hopefully) from it in the future. So to be objective as I have thought during all this time is to make some PPZ obsolete. They maybe valid for you but not for me... Because I want to be honest in my trading and if I honestly try to avoid every price flip, there would be no trades at all, because if I look fair enough there is a PPZ... so I have to either not see it or pretend price would not see it, lol.

And again those in past look good ALWAYS, because we see the outcome

Let's discuss those that happen now. Please.



Quoting ghous
Those areas have not been 'dealt with' already Adi.

Those close on PA bars is very important. For me they can be trade makers/breakers. If I simplify the 'areas' down to the 9500 RN, notice how the pin bar low touches the RN and closes above it. The close is above is not a great sign of bearish strength. Had it closed below the 9500 the BUOB would not have been too much of a worry at all, because then you have the added protection from the 9500 quite possibly acting as resistance.

The BUOB in comparison is a much better trade? Do you see...
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