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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

  • #86,421
  • Jan 20, 2011 4:25am Jan 20, 2011 4:25am
Quoting Pinbar
Ah, that is how he did it.

Thanks Adi and Jim.
It should bring me luck, I hope... sorry
  • #86,422
  • Jan 20, 2011 4:25am Jan 20, 2011 4:25am
Hmmm,,,,,,,,,
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  • #86,423
  • Jan 20, 2011 4:27am Jan 20, 2011 4:27am
This is one i do like. nice bar off a RN with divergence and with the trend
i just wish it came off the 130 level. A better level to trade from and it would have been a better retrace.

jon
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PATIENCE... DISCIPLINE
  • #86,424
  • Jan 20, 2011 4:28am Jan 20, 2011 4:28am
Quoting Adilius07
It should bring me luck, I hope... sorry
I am sure it will, but you don't need luck Adi.
  • #86,425
  • Jan 20, 2011 4:30am Jan 20, 2011 4:30am
Quoting g_j_hook@yah
how about a 4h BUOB?? problem for me is it closed under the RN.
same on eu/yen and gb/us.

Jaroo, how do you deal with
a situation like this when all else is lookin good?? james' critical list??

jon
Yes, "This is Critical" list is always on my mind with every setup. But more often then not, when these bullish setups are at swing Highs (continuation setups) they are more likely to retrace or hit their most immediate target then retrace.

With Outside bars you know where I like them to retrace to . .Previous Highs/Lows
Indicators show the past. Price Action "Indicates" the future.
  • #86,426
  • Jan 20, 2011 4:36am Jan 20, 2011 4:36am
Quoting jarroo
Yes, "This is Critical" list is always on my mind with every setup. But more often then not, when these bullish setups are at swing Highs (continuation setups) they are more likely to retrace or hit their most immediate target then retrace.

With Outside bars you know where I like them to retrace to . .Previous Highs/Lows
thanx. would you consider these setups running into RNs??
PATIENCE... DISCIPLINE
  • #86,427
  • Jan 20, 2011 4:36am Jan 20, 2011 4:36am
Quoting jarroo
Yes, "This is Critical" list is always on my mind with every setup. But more often then not, when these bullish setups are at swing Highs (continuation setups) they are more likely to retrace or hit their most immediate target then retrace.

With Outside bars you know where I like them to retrace to . .Previous Highs/Lows
Price could also just retrace and continue to retest this new Support level . but notice the previous bar high on the BUOB . . let's see how it reacts . if any.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,428
  • Jan 20, 2011 4:38am Jan 20, 2011 4:38am
Quoting g_j_hook@yah
thanx. would you consider these setups running into RNs??

Like the BRN, 1.3500 on the Euro? Yes. Good test to see how strong the uptrend really is.
Indicators show the past. Price Action "Indicates" the future.
  • #86,429
  • Jan 20, 2011 4:46am Jan 20, 2011 4:46am
Quoting 5.25
Hi xmzhang,

I like your style.

A few simple question if I may:

1) At what point did you enter the trade? Did you wait for the break of the Pin Bar for an entry at 85.54 or on closure? What was your logic?

2) Where did you set your stop loss? Just below the previous bars at 85.40?

3) Was your target area the next PPZ at 85.88?

Excuse my naivety here, I understand the 'story' in most market pairs but am struggling with tight entries and stop losses.
Thank you in advance.
Hey 525,
1. I entered on a break of that PB, normally I prefer entering on a pullback but this PB had a lot of momentum behind it so I just entered on a break
2. My SL was a few pips below the left eye @ 8540
3. My first target was the floorpivot @ 8590 which acted nicely as resistance before (look @ my previous post, the black dotted line)
Pipcrawler
  • #86,430
  • Jan 20, 2011 4:46am Jan 20, 2011 4:46am
Quoting jarroo
Price could also just retrace and continue to retest this new Support level . but notice the previous bar high on the BUOB . . let's see how it reacts . if any.
Hi jarroo, I was watching this EUR pullback on 4Hr but was unsure if, after a Daily close over resistance, we should wait for a Daily retest or drop a timeframe to 4Hr or 1Hr and look for an entry.

If that 4Hr pullback was the retest of support, then waiting for a Daily test, which may never happen, could mean we miss the trade ?

How do you view it ?
  • #86,431
  • Jan 20, 2011 4:58am Jan 20, 2011 4:58am
Quoting billm
Hi jarroo, I was watching this EUR pullback on 4Hr but was unsure if, after a Daily close over resistance, we should wait for a Daily retest or drop a timeframe to 4Hr or 1Hr and look for an entry.

If that 4Hr pullback was the retest of support, then waiting for a Daily test, which may never happen, could mean we miss the trade ?

How do you view it ?
I have found that the first time back . .after the establishment of the Daily breaking through and closing above strong Resistance thus giving us a potential strong Support level, will more often than not give a good bounce. Good enough to cover your risk, that is.

Sometimes the bounce keeps going and never looks back and sometimes it stops you out at break even . .lol This can be seen on the Daily or 4hour or Hourly.
Indicators show the past. Price Action "Indicates" the future.
  • #86,432
  • Jan 20, 2011 5:05am Jan 20, 2011 5:05am
Quoting jarroo
Looks good, xmz.

I like how you re using the current levels on the 30min, like the 85.40 (85.38 on my chart).

I still want to show you that its this Weekly PPZ level or the left eye of the Weekly PB, that can be better used to our advantage. Don't take this the wrong way . .I don't want to take away from your own game here.

But if that good size 30min PB was at the 85.60ish level . .then now were talking. You can see that yours was running right into this level . .and reacted.


Notice how we still don't have a close below the 85.60 of...
Thanx for the feedback Jim, I agree that higher TF S/R rule and yes we should definitely be looking for a better pair than this one
Pipcrawler
  • #86,433
  • Jan 20, 2011 5:06am Jan 20, 2011 5:06am
Quoting decentchap
I see. please see the attached to see my thinking on the daily. I see a W formed. and also the daily bars are consolidating. May be a breakout is in order.
Since the second rally is sharper - may be an upside breakdown?
LOL, I just checked the chart
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Trading is a test match not a Twenty20.
  • #86,434
  • Jan 20, 2011 5:07am Jan 20, 2011 5:07am
Quoting xmzhang
Thanx for the feedback Jim, I agree that higher TF S/R rule and yes we should definitely be looking for a better pair than this one
I hear that. lol

It was nice that your 30min PB broke through the 85.60 . .you could be off to the races if you held on ..
Indicators show the past. Price Action "Indicates" the future.
  • #86,435
  • Jan 20, 2011 5:19am Jan 20, 2011 5:19am
Quoting jarroo
I hear that. lol

It was nice that your 30min PB broke through the 85.60 . .you could be off to the races if you held on ..
Who said that I've closed my position ............my remaining 1/2 position is still open ..............
Pipcrawler
  • #86,436
  • Jan 20, 2011 5:23am Jan 20, 2011 5:23am
Quoting xmzhang
Who said that I've closed my position ............my remaining 1/2 position is still open ..............


Nice . .I like how you have your targets(s) and you actually do something when they're hit . . you would be surprised how many don't . . something we all can learn from your posts, xmz . . .
Indicators show the past. Price Action "Indicates" the future.
  • #86,437
  • Jan 20, 2011 5:28am Jan 20, 2011 5:28am
Quoting jarroo
Nice . .I like how you have your targets(s) and you actually do something when they're hit . . you would be surprised how many don't . . something we all can learn from your posts, xmz . . .
It an odd feeling when all those trading common sense start making sense when you trade - whether you follow them or not is another matter!
Trading is a test match not a Twenty20.
  • #86,438
  • Jan 20, 2011 5:30am Jan 20, 2011 5:30am
Quoting decentchap
It an odd feeling when all those trading common sense start making sense when you trade - whether you follow them or not is another matter!
Well said, chap.
Indicators show the past. Price Action "Indicates" the future.
  • #86,439
  • Jan 20, 2011 5:34am Jan 20, 2011 5:34am
Quoting g_j_hook@yah
This is one i do like. nice bar off a RN with divergence and with the trend
i just wish it came off the 130 level. A better level to trade from and it would have been a better retrace.

jon

You got like PA with the trend . .looks good.
Indicators show the past. Price Action "Indicates" the future.
  • #86,440
  • Jan 20, 2011 5:40am Jan 20, 2011 5:40am
Hi Jarroo,

I just wanted to ask you about your PPZ levels.

When you draw them ppz levels - do you only refer to closing prices? and when you work out your FTA - you generally look for previous bar(s) high/low (may be closing price to but high/lows more often?).

I also agree with your touch trade comment, and hope attain that level of expertise in years to come..
Trading is a test match not a Twenty20.
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