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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

  • #84,541
  • Edited 2:05am Jan 5, 2011 1:49am | Edited 2:05am
Quoting 786 trading
I have a question Sir,

Would you take short here or in other words.. is it a short setup?
Thanks in advance.

SChaos summed it up rather nicely.

I would just add . .

SChaos:

3 possible trade scenarios:
1. if u are bearish, touch trade at that red line, if u expect it to act as resistance. I usually expect it to act as Resistance (or Support whatever the case may be) when this transformation takes place. The clearer, the cleaner, the multiple same bar Lows or Highs the better. Touch trades; I would like additional confluences at the level of transformation like Fibs, EMAs, Trendline, BRN, etc., to help support the TT.

2. if u are bearish, look for a PA setup on a lower timeframe. Nothing like good old PA to confirm a level. Size, Structure, Space are always important to have but there are exceptions.

3. watch that 0.9500 red line. if it breaks & price closes above it, u can watch PA & wait for a bullish PA setup form off of 0.9500 (red line now acting as support -- resistance turned into support). This too will happen . . what makes a strong level a good one ..meaning strong PPZ, BRN, confluences, etc. . .If it won't hold as Support its got a good chance of holding as Resistance . .(or vise versa).

Thanks sChaos.
Indicators show the past. Price Action "Indicates" the future.
  • #84,542
  • Jan 5, 2011 2:08am Jan 5, 2011 2:08am
Quoting jarroo
Was it that beauty I4+B at a BRN?
no,i don't trade the IB's, this was a pure touch trade at the great PPZ 1.0000 level
  • #84,543
  • Jan 5, 2011 2:09am Jan 5, 2011 2:09am
hey jarroo

hope this time you did not miss the EUR/NZD 4H pin
  • #84,544
  • Jan 5, 2011 2:12am Jan 5, 2011 2:12am
Quoting kayhan7070
hey jarroo

hope this time you did not miss the EUR/NZD 4H pin

Yeah, I missed it . .that was a beauty off the 1.7500.
Indicators show the past. Price Action "Indicates" the future.
  • #84,545
  • Jan 5, 2011 2:16am Jan 5, 2011 2:16am
Quoting jarroo
Yeah, I missed it . .that was a beauty off the 1.7500.
first trade is a touch trade,entered the second one when i saw the pin
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  • #84,546
  • Jan 5, 2011 2:16am Jan 5, 2011 2:16am
Quoting kayhan7070
no,i don't trade the IB's, this was a pure touch trade at the great PPZ 1.0000 level
What it based on a close below the 1.0000? Or something else?
Indicators show the past. Price Action "Indicates" the future.
  • #84,547
  • Jan 5, 2011 2:25am Jan 5, 2011 2:25am
Quoting kayhan7070
first trade is a touch trade,entered the second one when i saw the pin
So a touch trade at the 1.7500 when Price came back up turning from Support to Resistance . .and then just a straight PB play? . .wow. nice.
Indicators show the past. Price Action "Indicates" the future.
  • #84,548
  • Jan 5, 2011 2:35am Jan 5, 2011 2:35am
Quoting jarroo
What it based on a close below the 1.0000? Or something else?
i took the USD/CAD based on the weekly breakout pattern,after it broke the TL i searched for a logical entry point it was sure the 1.000 level but i should find also a story behind my entry and good or bad here is the story that i found
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  • #84,549
  • Jan 5, 2011 2:43am Jan 5, 2011 2:43am
Quoting kayhan7070
i took the USD/CAD based on the weekly breakout pattern,after it broke the TL i searched for a logical entry point it was sure the 1.000 level but i should find also a story behind my entry and good or bad here is the story that i found

So when Price broke through and closed below that was on the 4 Hour? And the entry based on the Hourly?
Indicators show the past. Price Action "Indicates" the future.
  • #84,550
  • Jan 5, 2011 2:58am Jan 5, 2011 2:58am
Quoting jarroo
So when Price broke through and closed below that was on the 4 Hour? And the entry based on the Hourly?
yep
  • #84,551
  • Jan 5, 2011 3:00am Jan 5, 2011 3:00am
Quoting jarroo
So a touch trade at the 1.7500 when Price came back up turning from Support to Resistance . .and then just a straight PB play? . .wow. nice.

look at the resistance to the left, look at the terrific confluence,do you think that price can get through this heavy area with the first try?

i mean with the first try '' first time back''
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  • #84,552
  • Jan 5, 2011 3:02am Jan 5, 2011 3:02am
Quoting kayhan7070
yep
I can see something like this for added confluence.

Looks like you got the concept down . kayhan. .
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Indicators show the past. Price Action "Indicates" the future.
  • #84,553
  • Jan 5, 2011 3:05am Jan 5, 2011 3:05am
Quoting jarroo
I can see something like this for added confluence.

Looks like you got the concept down . kayhan. .
yeah i didn't see the triangle on the 4H
  • #84,554
  • Jan 5, 2011 3:08am Jan 5, 2011 3:08am
Quoting kayhan7070
look at the resistance to the left, look at the terrific confluence,do you think that price can get through this heavy area with the first try?

i mean with the first try '' first time back''

The 150 ema was a nice added touch to the confluence . .pun intended . .
Indicators show the past. Price Action "Indicates" the future.
  • #84,555
  • Jan 5, 2011 4:24am Jan 5, 2011 4:24am
Man those freestockcharts.com 3d, 4d bar closes have some kind of perverted logic. Can't get it.

Can anyone understand the logic of WHEN their 3d, 4d bars close? Daily bar closes 23:00 NYC.
  • #84,556
  • Jan 5, 2011 5:04am Jan 5, 2011 5:04am
Quoting KissFan
I just added to my Euro Long at 1.3278. TP is 1.3490 with my other positions. I'm going to bed.

K.I.S.S.

P.S. Yup I am aware of that monster BEOB above. LOL!!
nice but heyy how bout the downs side ? You might have to Kiss your long positions bye the way its going ?

I hope you wake up on time for it !!!

cheers V
  • #84,557
  • Jan 5, 2011 5:32am Jan 5, 2011 5:32am
Hello guys!
Hope you enjoyed the holidays.

Quoting jarroo
Ditto with the Usd/Chf.
i was just about to post that, then i decided that i would go through the posts first, and now i see your charts

The GBPCHF looks interesting too... downtrend, ppz around 1.49...would be good for a few pips although it doesnt look as nice as the USDCHF
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  • #84,558
  • Jan 5, 2011 6:12am Jan 5, 2011 6:12am
A little quiet here so I thought I would post this, maybe anyone is interested..
Where do you think price will go? Will post the answer later.

TF is a few day bar aggregation
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  • #84,559
  • Jan 5, 2011 6:24am Jan 5, 2011 6:24am
Quoting Adilius07
A little quiet here so I thought I would post this, maybe anyone is interested..
Where do you think price will go? Will post the answer later.

TF is a few day bar aggregation
That is my thought process
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  • #84,560
  • Jan 5, 2011 6:27am Jan 5, 2011 6:27am
Hi Adi.

Here we go...

We have a double top at the 1.02 area.. RN
Second, I would prefer to see a close of the BEOB below the 1.00 BRN,
I would check how strong the 1.02 area as a PPZ but if its strong as we can see in this chart.. I would put my entry below the 1.00 area. around 99.80.

We will have two FTA zones..before a nice space for a down move..
If i would see this setup, BEOB engulfing 2 bars.. I would go till the 2nd FTA at least.

Os.


Quoting Adilius07
A little quiet here so I thought I would post this, maybe anyone is interested..
Where do you think price will go? Will post the answer later.

TF is a few day bar aggregation
Attached Image (click to enlarge)
Click to Enlarge Name: WIPG_5jan.png Size: 15 KB
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