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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

  • #85,601
  • Jan 13, 2011 9:53am Jan 13, 2011 9:53am
Quoting mbqb11
I use the channel width as a rough projection

Best
Mike
I see

Thx Mike.

Os.
Trade Smart
  • #85,602
  • Jan 13, 2011 10:28am Jan 13, 2011 10:28am
no idea yet, maybe a pin, lets just c what it does at the ppz

cheers

Quoting Autumm
Hi Bethel,

What PA is present on the eur/jpy daily?
  • #85,603
  • Jan 13, 2011 11:06am Jan 13, 2011 11:06am
What you think of this zone coming up for some nice moves I feel ... fats approaching zones I believe 1.60 and next major up . Considering we have the month BEOB we may well develop to triangle and one final move down to complete 5 wave Elliot pattern .

Usually triangles happen in almost all the wave 4 so i believe long term pattern we are in 4 and the zones are clear az PPZ and should give us some awsome opportunities.

Am I on the right track ?

Cheers

Vito
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  • #85,604
  • Jan 13, 2011 11:20am Jan 13, 2011 11:20am
Quoting menomoo
What you think of this zone coming up for some nice moves I feel ... fats approaching zones I believe 1.60 and next major up . Considering we have the month BEOB we may well develop to triangle and one final move down to complete 5 wave Elliot pattern .

Usually triangles happen in almost all the wave 4 so i believe long term pattern we are in 4 and the zones are clear az PPZ and should give us some awsome opportunities.

Am I on the right track ?

Cheers

Vito
Hey Vito

Yep you sure are on the right track. We are definitely in an area of interest. Overall gbp/usd is pretty up and down so we have to see and wait for clues. We have just broken out of a tight range around 1.55 so it will be interesting to see what happens up towards 1.6. It looks like you sold the monthly beob and maybe are looking for reasons why price should come down? I am totally guessing here on that. But if so and if you sold the beob do you see the potential trouble with that bar(again if that is what your chart is indicating)

Best
Mike
  • #85,605
  • Jan 13, 2011 12:17pm Jan 13, 2011 12:17pm
good one mike i love the way you notice things )

No i didnt sell anything . its just the demo the other day i took a short on 4 hourly inside bar and forgot about it )) So not looking for any reasons to go up or down did that trip long long long ago ))

Just looking at the rapid moves and see and smell the obvious interest areas for flips ..

obviously the PA will tell us all but I like the idea od the monthly wedge ... Again we should be quite objective when comes to these areas ...

Just practicing and parcticing nowadays all timeframes just sharpening my tools slowly but surely ...I feel got another few months to go before I start trading for real) And I will appreciate your inputs till then ...

Goood on ya

Cheers

vito
  • #85,606
  • Jan 13, 2011 12:21pm Jan 13, 2011 12:21pm
Mike, may I ask you please.
I know you don't move to BE very quick, instead you choose your trades more carefully.

Would you take this trade if you saw it? (probably not, due to lack of space? I thought it was a box like PA, so space was not an issue..) would you advice anything on this one, please?

EDIT: Oh by the way, I took it from IBFX feed, where there was no close above 1.00 BRN.

http://cdn.forexfactory.com/attachme...1&d=1294929121
  • #85,607
  • Jan 13, 2011 12:28pm Jan 13, 2011 12:28pm
I potentially see great problem with that bar, definetely so if it goes past 1.60 with a breeze I reckon nothing much there for a halt to 1.70 ..Now the only think i see going for that bar is to stall around 1.60 and form the right shoulder on weekly for head and shoulders pattern ... if thats the case

then 1- Price should come back and go past the low of this month then come back and test there we have a nice ppz to look forward to

2- if it goes trhough 1.60 then we have good zone to challenge the monthly BEOB

and I wouldnt mind either patience would pay of at the end .. i wish i could trade but for some reason I still feel I got some time to go .. But i will definetely look into these zones and trade like real on Demo .

Cheers

vito
  • #85,608
  • Jan 13, 2011 1:08pm Jan 13, 2011 1:08pm
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mmmm....what do you reckon guys,t/l s/r just now waiting for pa.T
  • #85,609
  • Jan 13, 2011 1:23pm Jan 13, 2011 1:23pm
this pair is running into resistance right now at 1.3400.
resistance + round number + divergence on macd.
look for price action on the lower timeframes.
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meine augen sind die sterne
  • #85,610
  • Jan 13, 2011 1:39pm Jan 13, 2011 1:39pm
Ghous / Jarro,

Was this an IPB on EJ this Monday? It's low was lower than that of the previous candle.

Jarroo,

I did not understand when you said in one of your previous posts that "we like to see them lower than the previous bar low." Can you please explain? Why does a lower low (in case of a Bullish IPB) adds to the set-up?

Many Thanks
0908

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  • #85,611
  • Jan 13, 2011 1:53pm Jan 13, 2011 1:53pm
Hi,Im Novice to forex trading..and i have learnt many setups like Pinbar,IPB,Support-Resistance,BUOB,BEOB etc...
but can any1 tell me whats BRN?Whats the significance of it?
Thanks.
  • #85,612
  • Jan 13, 2011 2:12pm Jan 13, 2011 2:12pm
what about this ipb forming on eur/chf?
it's at ppz with fib and former resistance/support.
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meine augen sind die sterne
  • #85,613
  • Jan 13, 2011 2:22pm Jan 13, 2011 2:22pm
Quoting xmzhang
I scroll the lower TF's down sequencially.
Thanks. On your step 3 you mention not to move your SL after you close half. Is there a limit to how far you let your trade move against you so you don't end up at 0 gain? If so how is this determined, PA?
  • #85,614
  • Jan 13, 2011 2:31pm Jan 13, 2011 2:31pm
Poor old Oz, getting flooded like that.

Worth a short though I think
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  • #85,615
  • Jan 13, 2011 2:34pm Jan 13, 2011 2:34pm
Just wondering if u guys play bars like this. Technically not a OB since high if second bar is 2-3 pips lower than bar one's. Could be DBHLC but again how many pips of difference (in highs)do you tolerate to accept it to be playable ?
Attached Image
  • #85,616
  • Jan 13, 2011 2:35pm Jan 13, 2011 2:35pm
Quoting forex0908
Ghous / Jarro,

Was this an IPB on EJ this Monday? It's low was lower than that of the previous candle.

Jarroo,

I did not understand when you said in one of your previous posts that "we like to see them lower than the previous bar low." Can you please explain? Why does a lower low (in case of a Bullish IPB) adds to the set-up?

Many Thanks
0908

Attachment
0908,

Thanks for the chart. I just started really looking at IPBs this week so i'm by no means an expert, but I like this one. Its at a swing low, great PA formation (like you said). If closed above BRN 107.00 then thats a plus. FTA is at the lows on those 3 bars (7 bars back) which pretty much lines up with the high of the IPB. Sorry I missed this one.
  • #85,617
  • Jan 13, 2011 2:48pm Jan 13, 2011 2:48pm
Quoting gasgas
Just wondering if u guys play bars like this. Technically not a OB since high if second bar is 2-3 pips lower than bar one's. Could be DBHLC but again how many pips of difference (in highs)do you tolerate to accept it to be playable ?
hi there..
DEpending on where that bar is I would look at it from last two bar versus second last two bars . If last two overwhelmingly looking outside bar than you got something going for u.

ofcourse one should always think the location location location ...

like the realestate.. hope got my drift ...

Cheers

vito
  • #85,618
  • Jan 13, 2011 2:50pm Jan 13, 2011 2:50pm
Quoting chriskins
Sure

Also the comments after it from Mike etc are funny.
post #6506 to #6516 is the LOLest moment I've seen on this thread
  • #85,619
  • Jan 13, 2011 3:01pm Jan 13, 2011 3:01pm
Some more trades, my demo account has done well over the last few weeks
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Price is beautiful. A repetitive method is a competitive method.
  • #85,620
  • Jan 13, 2011 3:36pm Jan 13, 2011 3:36pm
Got a psychological issue, how do I stop from constantly checking my trades? I'm always thinking about it and theres a feeling of excitement and anxiety in my stomach even though im risking pretty small amount of money. How do you overcome this? Trade for a while so I don't think its a big deal anymore?
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