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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

  • #86,861
  • Jan 24, 2011 9:08am Jan 24, 2011 9:08am
Quoting mbqb11
Their site is not as easy to navigate as their platform is to use
Yeah platform is really easy, I even read the whole manual just to make sure I have not missed any function (short and easy read too)
  • #86,862
  • Jan 24, 2011 9:20am Jan 24, 2011 9:20am
Quoting Osman
Hi SC,
When you say countertrend.. I look at the daily and I see lower highs and lower lows...
apologies.
with 'trend', in your chart's context, i meant to say short-term ,current or immediate trend --the trend at that time. from around Jan.18 (your trade was on Jan.21, i think), the current/underlying trend was up (u can see most bars were bullish; u showed this with your 2 blue ascending lines/arrows).

remember, there are trends within trends (example, uptrend within a downtrend. there are even trends within ranges/consolidations.

also, talking about the daily lower highs & lows, u can see that the pinbar u traded invalidated that(the daily lower highs &lows) by printing a higher high (higher than Jan.14's high; u can see this on H4, daily..& u placed a red line indicating this). on H4, price made higher (swing) low & high(jan.18 onwards), so something is changing/has changed.

as u look back now, u can see this pin is what i call a 'pause PA or pause pinbar', a temporary pause in the trend. it's like an 'IPB in mid-air'
  • #86,863
  • Jan 24, 2011 9:41am Jan 24, 2011 9:41am
Hi SC,

I see what you mean.. I thought the trend was bearish unless the 31/12 high wasn't violated as it was the point were it made the next lower higher in the overall down trend.

Thx for your explanation.

Os.

Quoting supremeChaos
apologies.
with 'trend', in your chart's context, i meant to say short-term ,current or immediate trend --the trend at that time. from around Jan.18 (your trade was on Jan.21, i think), the current/underlying trend was up (u can see most bars were bullish; u showed this with your 2 blue ascending lines/arrows).

remember, there are trends within trends (example, uptrend within a downtrend. there are even trends within ranges/consolidations.

also, talking about the daily lower highs & lows, u can see that the pinbar u traded invalidated...
Trade Smart
  • #86,864
  • Jan 24, 2011 9:46am Jan 24, 2011 9:46am
Quoting mbqb11
Their site is not as easy to navigate as their platform is to use
Hey Mike, congratulations for the Steelers win yesterday nite.. great game.. 24-3 by the end of the second quarter.. I thought they were gonna beat the Jets ending 38-6 or something like that, lol..


Os.
Trade Smart
  • #86,865
  • Jan 24, 2011 9:55am Jan 24, 2011 9:55am
Quoting Osman
... I thought the trend was bearish unless the 31/12 high wasn't violated as it was the point were it made the next lower higher in the overall down trend.
...
yeah, let's see if price can reach & breach Dec.31 high.
  • #86,866
  • Jan 24, 2011 9:58am Jan 24, 2011 9:58am
Anyone else watching this??..

DBHLC (depending on todays close?) not a great bar, could be much bigger and im hoping it will close right the low. but i like the location. BRN and nice long term PPZ. and like that price looks to be closing well under 1.3000. A big long term down trend and still making lower lows and lower highs.
4h looks like a DBL top within that PPZ area and there is divergence.
FTA pretty close at 1.2900ish. but i think it could reach 1.2800 if that breaks.

open for comment please.

jon
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PATIENCE... DISCIPLINE
  • #86,867
  • Edited 10:21am Jan 24, 2011 10:04am | Edited 10:21am
Quoting g_j_hook@yah
Anyone else watching this??..

DBHLC (depending on todays close?) not a great bar, could be much bigger and im hoping it will close right the low. but i like the location. BRN and nice long term PPZ. and like that price looks to be closing well under 1.3000. A big long term down trend and still making lower lows and lower highs.
4h looks like a DBL top within that PPZ area and there is divergence.
FTA pretty close at 1.2900ish. but i think it could reach 1.2800 if that breaks.

open for comment please.

jon
Hi g_j ..

I saw it on IBFX 4hr chart, but we had FTA +365ema at 1.2950, the entry was around 1.2970 and the close of the bar was around 1.2997.. wanted more distance from the 1.30 area, something around 1.2990. We had a big daily BUB with engulfed few bars on Thursday and the EUR has been quite strong this days.. so with all those things .. I passed on it.

Let see if we get a nice bar for the daily.

Os.
Trade Smart
  • #86,868
  • Jan 24, 2011 10:09am Jan 24, 2011 10:09am
Quoting g_j_hook@yah
Anyone else watching this??..
be carefull and enter below this ppz (see arrow) with resistance, tl, ma etc...
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meine augen sind die sterne
  • #86,869
  • Jan 24, 2011 10:20am Jan 24, 2011 10:20am
Quoting aserbfx
be carefull and enter below this ppz (see arrow) with resistance, tl, ma etc...
yeah i think that whole area from 1.2900 to the 365 EMA could well hold price? In fact a bounce from here back to 1.3000 would be great if we get a nice trigger bar on the 4h!

cheers

jon
PATIENCE... DISCIPLINE
  • #86,870
  • Jan 24, 2011 10:21am Jan 24, 2011 10:21am
Quoting g_j_hook@yah
Anyone else watching this??..


jon
Definitely watching since I'm long Thursday's BUOB as a continuation. Initial stop reduced by about 40% and is currently sitting at 1.2880 below the ppz near 1.2900. I'm watch the 1.2950 area and will likely close trade as loss if daily closes below that level.
  • #86,871
  • Jan 24, 2011 10:31am Jan 24, 2011 10:31am
Quoting Donkey
Definitely watching since I'm long Thursday's BUOB as a continuation. Initial stop reduced by about 40% and is currently sitting at 1.2880 below the ppz near 1.2900. I'm watch the 1.2950 area and will likely close trade as loss if daily closes below that level.
that 1.2900 level might well hold yet, if price gets there.
lets see if that 1.3000 holds as resistance? i think a retest is likely?

jon
PATIENCE... DISCIPLINE
  • #86,872
  • Jan 24, 2011 11:00am Jan 24, 2011 11:00am
Quoting Kalbar
Hey Ghous

On the topic of strong closes, did you take the pin from last week on NZ/USD? It had a good close but was kind of in traffic and price just 'drifted' into the pin although it was near forming a double top. Because of these factors I missed it although it worked well. What is your critique of this set-up?

Thanks,

Kal
Hey Kal,

Yeah that was a pretty good Pin bar/BEOB on Nu.

I am very picky when it comes to 'space' that a trade has to move into. Since I am more of a quick profit taker for any trade I take it must be heading towards a very clear target.

Looking at the way the bar closed, I saw it as a clear shot to the marked FTA. As easy a 0.5R trade as can get.

Consider the very recent pin bar we had on the pair. Obviously lacking a lot when it comes to shape. Right? Small nose...but notice the close (authoritative) and the clarity of where a break could take us.

I took both these trades to the FTA marked in yellow.

g.
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I believe . . .
  • #86,873
  • Jan 24, 2011 11:03am Jan 24, 2011 11:03am
Quoting Pinbar
A two day G bar....!

I am not interested........I am being a good boy, for now.

Nice find though Ghous.

Hey, how did your friend's commercial thing work out?
just saw this...

We didn't win, but came very close to making it.

Once again thanks everyone who voted for the ad vid.

g.
I believe . . .
  • #86,874
  • Jan 24, 2011 11:15am Jan 24, 2011 11:15am
Quoting 5.25
Morning all

I'm riding off a subtle pin bar on the AUD/NZD daily. It's a micro trade so complaints if it fails. I say 'subtle' given the size of the previous bullish bars previous to this setup.

1.300 is proving to show quite a bit of resistance...

Looking back on the chart that I am about to post, maybe I should have moved my resistance level from 1.3050 to a big round number such as 1.300!???

I'm 18 pips in front at the moment.

First trouble area expected at 1.2950

Critiques welcome on my chart analysis
Any surprises there?

Well poodles don't make good trading account guard dogs.

A perfect example of why it is so important to stick with the very best out there until you get really good with only the basic and solid stuff.

Now here's one bar you just can't complain about. A very small Dojish pin bar heading straight for the 1.3 BRN. I will seriously feel bad if you took a full bar loss on this 5.25, did you?

Such setups require expert trade management that can only come through experience and chart time...time basically. What it basically required was the presence of mind to 1) be aware of the BRN in the way 2) prepare to react to any signs of support there.

Remember folks we don't need to grab at anything that shines...for everything that shines is not gold.

Most of our time in trading should not be based on why we should take a trade setup but rather on why we shouldn't take a setup. 'The pickier the better' is what this thread echos in the few pages that it consists of.

g.
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I believe . . .
  • #86,875
  • Jan 24, 2011 11:32am Jan 24, 2011 11:32am
I am liking this.

2 day PB and possibly a BEOB.

still some time to the bar close, but if it closes as is (or as a beob) its good enuff in my book.

g.
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I believe . . .
  • #86,876
  • Jan 24, 2011 11:33am Jan 24, 2011 11:33am
Quoting ghous
Most of our time in trading should not be based on why we should take a trade setup but rather on why we shouldn't take a setup. 'The pickier the better' is what this thread echos in the few pages that it consists of.

g.
Well said. This is something to be tattooed right on the forehead
  • #86,877
  • Jan 24, 2011 11:39am Jan 24, 2011 11:39am
I missed this IPB trade altogether, but had I been in this one, I would be out by now at BE.

Take profit sits at the IPB low, but you can't ignore any S/R in between.

g.
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I believe . . .
  • #86,878
  • Jan 24, 2011 11:48am Jan 24, 2011 11:48am
EURCHF:
Nice BEOB Formation but possible traffic area @ 38.2 fib or 1.2891

EURAUD:
"MAYBE" BEOB Formation.looks good..still a time for it to have proper BEOB close..

Good Trading!!
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  • #86,879
  • Jan 24, 2011 12:03pm Jan 24, 2011 12:03pm
Quoting ghous
I am liking this.

2 day PB and possibly a BEOB.

still some time to the bar close, but if it closes as is (or as a beob) its good enuff in my book.

g.
Yeah a nice one.. you can add Divergence + 61.8 fib from previous down move.

Would like to see it closing below 1.3650.


Os.
Trade Smart
  • #86,880
  • Jan 24, 2011 12:22pm Jan 24, 2011 12:22pm
Monthly BEOB still in the game , LL & LH + We are aproaching super strong resistance.
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