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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

  • #87,361
  • Jan 30, 2011 6:45am Jan 30, 2011 6:45am
Hi to every one on this thread. I have been lurking here for a while now and anything I've learnt about forex trading that seems worthwhile has been from this thread, so thanks for that people. and thought it was about time I posted some thing. Could you please give your opinions on this pinbar setup and why you would or would not take it. Thanks again.http://www.forexfactory.com/images/icons/icon7.gif
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  • #87,362
  • Jan 30, 2011 7:32am Jan 30, 2011 7:32am
Quoting NICK theF1SH
Hi to every one on this thread.... Could you please give your opinions on this pinbar setup and why you would or would not take it...
hello NICK theF1SH,
Welcome!

would not take it, as im pretty sure there are always better setups around.

to comment about your chart,
-the pinbar is small. & it has a bullish close. ideally we want a bearish close for a bearish setup.
i only see two scenarios: bullish breakout (this coming week?;breakout above 0.78), or price going back into range. i think the latter is more plausible. price may range back towards 0.7600/0.7650 area, then 0.73 - 0.75, then 0.68 - 0.71.
if 0.68 - 0.71 holds as support, IMHO, price is still bullish, overall.
just my view..


posting will accelerate your (l)earning, so keep posting Sir!
  • #87,363
  • Jan 30, 2011 7:56am Jan 30, 2011 7:56am
Quoting supremeChaos
hello NICK theF1SH,
Welcome!

would not take it, as im pretty sure there are always better setups around.

to comment about your chart,
-the pinbar is small. & it has a bullish close. ideally we want a bearish close for a bearish setup.
i only see two scenarios: bullish breakout (this coming week?;breakout above 0.78), or price going back into range. i think the latter is more plausible. price may range back towards 0.7600/0.7650 area, then 0.73 - 0.75, then 0.68 - 0.71.
if 0.68 - 0.71 holds as support, IMHO, price is still bullish, overall.
just...

Thanks for the reply, appreciate it http://www.forexfactory.com/images/icons/icon14.gif as that was my first post. I did'nt even think about the bar closing bullish so definitely worth posting and will do again.
  • #87,364
  • Jan 30, 2011 8:14am Jan 30, 2011 8:14am
Quoting jarroo
Hey AvanishD.

I seen the others that have comment of this setup. I agree with Ghous that this setup has the potential to run down to the 1.3550. But I view the 1.3650 as its 1st target or FTA . The 1.3650 is a Weekly PPZ level acting as Support . . .



This setup is a great example of when to apply James16's "This is Critical" .
Yea Jarroo,I noticed that..also thanks for the previous reply ..
I got it wt u meant by "this is critical"

Good Trading!!
  • #87,365
  • Jan 30, 2011 10:04am Jan 30, 2011 10:04am
Quoting supremeChaos
US potential collapse:
i'd like to get comments from traders here, specially those in the US.
are u concerned? etc..
what do u think will happen?
what do u/we need to do?
Many thanks!
http://www.youtube.com/watch?v=NmTBn...layer_embedded
http://www.youtube.com/watch?v=LhPpz...layer_embedded

interesting you post these, I am a huge fan of Peter Schiff. There are two sides to every story, and if you look at history, some people would be screaming that the collapse of the dollar was near for a long time.

I wouldn't fear it, but I wouldn't completely ignore the people who say this stuff either.
Many choose unhappiness over uncertainty.
  • #87,366
  • Jan 30, 2011 10:12am Jan 30, 2011 10:12am
Quoting supremeChaos
US potential collapse:
i'd like to get comments from traders here, specially those in the US.
are u concerned? etc..
what do u think will happen?
what do u/we need to do?
Many thanks!
http://www.youtube.com/watch?v=NmTBn...layer_embedded
http://www.youtube.com/watch?v=LhPpz...layer_embedded
Hi SC,

Seen these before and I think it's gonna be problem.

But I also have some faith in the ingenuity of the US and that they will come thru OK.

I just refuse to believe that the Mad Max scenario will happen, at least I hope not, but who knows.
  • #87,367
  • Jan 30, 2011 10:49am Jan 30, 2011 10:49am
payx looks good, too.
pro: 50% fib, ppz, strong bearish daily close.
con: friday daily bar with wide spread on slightly decreasing volume.
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meine augen sind die sterne
  • #87,368
  • Jan 30, 2011 12:02pm Jan 30, 2011 12:02pm
Quoting aserbfx
nice looking pinbar on dnb. breaking through resistance and closing far below.
Once again earnings on 2/3/11
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  • #87,369
  • Jan 30, 2011 12:23pm Jan 30, 2011 12:23pm
Quoting supremeChaos
is it your live account broker?
why not try other brokers... FXPro, IBFX, FXDD, Alpari, etc
or, have/monitor 2 broker feeds (if u are comfortable doing so)
Hi SC,

yes it's my live account, so it's only being used for the setups I know and trust.

I'm demoing on IBFX. 28 pairs, but no companies or commodities. I must check what the others have.
  • #87,370
  • Jan 30, 2011 12:28pm Jan 30, 2011 12:28pm
Quoting jarroo
Hey AvanishD.

I seen the others that have comment of this setup. I agree with Ghous that this setup has the potential to run down to the 1.3550. But I view the 1.3650 as its 1st target or FTA . The 1.3650 is a Weekly PPZ level acting as Support . . .



This setup is a great example of when to apply James16's "This is Critical" .

Good points.

I cannot take this beob on euraud because I cannot find a solid way to enter, and exit the trade. Possibly short it @ 1.3760 if price creeps back up that high, but I'm going to leave it alone.
Many choose unhappiness over uncertainty.
  • #87,371
  • Jan 30, 2011 12:52pm Jan 30, 2011 12:52pm
Hi traders.

Just my thoughts about the NQ100 index - I'm not a trader actually, but I'd like to know your opinion -

On the monthly chart I can see a potential good setup: I think that if Monday it will close below 2220 there is the opportunity for a fall to 2125 first and then, why not, 2050. This because we would have a nice looking pin bar on the monthly chart.

In addition, on the weekly chart, I see a "3-weeks-pinbar" (even if I don't like the close above the PPZ 2220).

What do you think?
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  • #87,372
  • Jan 30, 2011 1:01pm Jan 30, 2011 1:01pm
Quoting Atc
Once again earnings on 2/3/11

where do you check this?
thanks
meine augen sind die sterne
  • #87,373
  • Jan 30, 2011 1:17pm Jan 30, 2011 1:17pm
long bearish pinbar on weekly twc.
only the congestion of bars to the left makes me suspicous.
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meine augen sind die sterne
  • #87,374
  • Jan 30, 2011 2:23pm Jan 30, 2011 2:23pm
Quoting Dan Gilbert
Good points.

I cannot take this beob on euraud because I cannot find a solid way to enter, and exit the trade. Possibly short it @ 1.3760 if price creeps back up that high, but I'm going to leave it alone.
I like the 1.3760 as well. It would have been nicer if it was at the 1.4000.

Should be fun to watch . .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,375
  • Jan 30, 2011 2:52pm Jan 30, 2011 2:52pm
Quoting aserbfx

where do you check this?
thanks

On the Think or Swim charting platform there is a phone/book symbol that gives me the information.
  • #87,376
  • Jan 30, 2011 3:25pm Jan 30, 2011 3:25pm
Greetings, this is my first time here, spent some time reading this thread and now ready to start my learning process. I would like to post this EU/GBP chart and get some feed back. is this a BEOVB and do those PPZ look correct is this a potention J16 setup?
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  • #87,377
  • Jan 30, 2011 3:31pm Jan 30, 2011 3:31pm
Quoting Patrick.
Greetings, this is my first time here, spent some time reading this thread and now ready to start my learning process. I would like to post this EU/GBP chart and get some feed back. is this a BEOVB and do those PPZ look correct is this a potention J16 setup?
Hello Patrick, this is the trade I am planning to take.
I have my orders set to sell short @0.8565

I'm not the best one to answer about PPZ though I'm sure someone will give you more details about it.

EDIT: I forgot to answer,lol, yes that is BEOB

http://www.forexfactory.com/attachme...1&d=1296305871
  • #87,378
  • Jan 30, 2011 3:31pm Jan 30, 2011 3:31pm
Quoting Patrick.
Greetings, this is my first time here, spent some time reading this thread and now ready to start my learning process. I would like to post this EU/GBP chart and get some feed back. is this a BEOVB and do those PPZ look correct is this a potention J16 setup?
Welcome Patrick!

Yes those lines look perfect. Aren't they pretty

Best
Mike
  • #87,379
  • Jan 30, 2011 3:39pm Jan 30, 2011 3:39pm
Indeed. I will not be trading it but have it on the watch list. My gut says we'll see 1.4 before any sizable downward move occurs but my gut is not always right.

Scott

Quoting jarroo
I like the 1.3760 as well. It would have been nicer if it was at the 1.4000.

Should be fun to watch . .
  • #87,380
  • Jan 30, 2011 3:42pm Jan 30, 2011 3:42pm
Thanks guys, I was very nervous about posting....the responses were warm thanks much.

May I ask about NZD/JPY, two consecutive matching lows, ppz as shown, and confluence reasons that the upper ppz acted as strong resistance and the 61.8 fib

should we be concerned that it however breached big number 64.00?
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