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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

  • #87,401
  • Jan 30, 2011 11:10pm Jan 30, 2011 11:10pm
Quoting MustardPlug
Patrick/Jim/Mike,

Curiosity question about the BEOB on EURGBP: Anyone concerned about the 150 & 365 MAs just under that bar?

Thanks,

Dean

I would be, as price is making the First Time Back to the 365 after price broke through it and the EMA has confluence with the 0.85500 rn & the PPZ.

To be honest, I fail to see any merit in that EUR/GBP setup.
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  • #87,402
  • Jan 30, 2011 11:11pm Jan 30, 2011 11:11pm
Quoting Dan Gilbert
I would be @ B/E now at the very worst.
  • #87,403
  • Jan 30, 2011 11:13pm Jan 30, 2011 11:13pm
Quoting jarroo
Or maybe add to your position if Price breaks through and closes below the 1.3650 and retraces back to it with some nice bearish PA?? . . just a thought . .
Indicators show the past. Price Action "Indicates" the future.
  • #87,404
  • Jan 30, 2011 11:27pm Jan 30, 2011 11:27pm
Quoting jarroo
Quoting supremeChaos
daytrading the dailies.

Quoting jarroo
Or maybe add to your position if Price breaks through and closes below the 1.3650 and retraces back to it with some nice bearish PA?? . . just a thought . .
Personally, I would close out my whole position at 1.3650..... from a R/R perspective, 1.3650 gives something better than 2R.... I'm all about it.


EDIT: keep in mind this is all hypothetical
Many choose unhappiness over uncertainty.
  • #87,405
  • Jan 30, 2011 11:29pm Jan 30, 2011 11:29pm
Quoting Dan Gilbert
daytrading the dailies.



Personally, I would close out my whole position at 1.3650..... from a R/R perspective, 1.3650 gives something better than 2R.... I'm all about it.


EDIT: keep in mind this is all hypothetical
I understand Dan . . I was just talking from a chart perspective. . .not R/R.
Indicators show the past. Price Action "Indicates" the future.
  • #87,406
  • Edited 11:46pm Jan 30, 2011 11:34pm | Edited 11:46pm
EJ is looking interesting.
EDIT: From the perspective of the weekly PB
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  • #87,407
  • Jan 30, 2011 11:35pm Jan 30, 2011 11:35pm
Quoting Ifmyante
I'm not sure about rules regarding ema's yet. I mean sometimes a FTB works to the pip. Other times price passes through like it wasn't there.

I'm watching a case this week in AUD/CHF.

Weekly PBT PPZ & CB, but is now sitting on 150 and 365. If they turn price back around I'll respect them alot more in future
I see your still liking the Aud/Chf . .its a tough pair, friend. You may want to re-read Mike's take on this pair and BRNs.

Quoting mbqb11
Hey IFMYA

9500 is a pivot for sure but we are chopping around it too so from a weekly perspective we are winding up = sideways market be more cautious)

9000 mark last swing low(the major swing points like this one and parity are super important when we retest it).
Secondly, I see the level you're looking at . .I beleive its the .9335ish that's kind of lining up with the EMAs. The level could be clearer . .much clearer and Price did not close below the EMAs. If Price did close below that, we may have something.

Look where Price did show Support and where Price broke through and closed below. . ..9500 BRN. The Lows too, although they could be clearer or cleaner. . .welcome to the Aud/Chf.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,408
  • Jan 30, 2011 11:35pm Jan 30, 2011 11:35pm
Quoting jarroo
I understand Dan . . I was just talking from a chart perspective. . .not R/R.
Oh I see....


I recently had an experience where I watched price miss my target by 4 pips on a 4.5R trade which I risked the full 1% on.... retraced back and stopped me on B/E.

good times
Many choose unhappiness over uncertainty.
  • #87,409
  • Jan 30, 2011 11:38pm Jan 30, 2011 11:38pm
Quoting Dan Gilbert
Oh I see....


I recently had an experience where I watched price miss my target by 4 pips on a 4.5R trade which I risked the full 1% on.... retraced back and stopped me on B/E.

good times

Did it then go back in your direction? . .. .all part that "catching that runner" game.
Indicators show the past. Price Action "Indicates" the future.
  • #87,410
  • Jan 30, 2011 11:49pm Jan 30, 2011 11:49pm
Quoting Pinbar
EJ is looking interesting.
EDIT: From the perspective of the weekly PB

Looks good Pb .. nice .

What's your target or FTA?
Indicators show the past. Price Action "Indicates" the future.
  • #87,411
  • Jan 30, 2011 11:49pm Jan 30, 2011 11:49pm
Quoting jarroo
Did it then go back in your direction? . .. .all part that "catching that runner" game.
It didn't go back in my direction until after it would have taken out my original stop.... I wasn't even trying to catch a runner, just a fluke event. Mike therapeutically helped me through it

edit: and gave me ideas how to prevent such a thing from happening again.
Many choose unhappiness over uncertainty.
  • #87,412
  • Jan 30, 2011 11:50pm Jan 30, 2011 11:50pm
Quoting Dan Gilbert
It didn't go back in my direction until after it would have taken out my original stop.... I wasn't even trying to catch a runner, just a fluke event. Mike therapeutically helped me through it

edit: and gave me ideas how to prevent such a thing from happening again.
I see . .4.5R is nice runner for me. . .
Indicators show the past. Price Action "Indicates" the future.
  • #87,413
  • Jan 31, 2011 12:03am Jan 31, 2011 12:03am
Quoting jarroo
Looks good Pb .. nice .

What's your target or FTA?
Right around the 110.80 area looking at the weekly but, of course the 111 mark is really the FTA.
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  • #87,414
  • Jan 31, 2011 12:08am Jan 31, 2011 12:08am
Quoting Pinbar
Right around the 110.80 area looking at the weekly but, of course the 111 mark is really the FTA.
I see . .excellent.

If Price retraces back into the setup, where do you see it finding resistance?
Indicators show the past. Price Action "Indicates" the future.
  • #87,415
  • Jan 31, 2011 12:10am Jan 31, 2011 12:10am
Usd/Jpy.

Nice clean and clear Support level . .82.00
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Indicators show the past. Price Action "Indicates" the future.
  • #87,416
  • Jan 31, 2011 12:15am Jan 31, 2011 12:15am
Quoting jarroo
I see . .excellent.

If Price retraces back into the setup, where do you see it finding resistance?

I am thinking that if it comes back on me, the 111.603 area looks like a good strong area that may act as resistance.
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  • #87,417
  • Jan 31, 2011 12:21am Jan 31, 2011 12:21am
Quoting Pinbar
I am thinking that if it comes back on me, the 111.603 area looks like a good strong area that may act as resistance.

That looks good . .. . but I like the 112.00 RN.


here's why . .(chart).

also a little help from the 150 ema wouldn't hurt . .
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Indicators show the past. Price Action "Indicates" the future.
  • #87,418
  • Jan 31, 2011 12:26am Jan 31, 2011 12:26am
Quoting jarroo
That looks good . .. . but I like the 112.00 RN.


here's why . .(chart).

also a little help from the 150 ema wouldn't hurt . .

Totally agree Jarroo, the 111.600 area is where I would like to see it find resistance but, my SL is actually at 112.130
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  • #87,419
  • Jan 31, 2011 12:27am Jan 31, 2011 12:27am
Quoting Pinbar
Totally agree Jarroo, the 111.600 area is where I would like to see it find resistance but, my SL is actually at 112.130

I like it, Pb . . . .let's see what London brings.
Indicators show the past. Price Action "Indicates" the future.
  • #87,420
  • Jan 31, 2011 12:28am Jan 31, 2011 12:28am
Quoting jarroo
I like it, Pb . . . .let's see what London brings.

Yes, the LO is going to be interesting.

EDIT: Yes, the 150 may help this.
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