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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

  • #87,641
  • Feb 2, 2011 4:07am Feb 2, 2011 4:07am
Quoting jarroo
That's not a bad answer, aserb. But I'm looking for an easier answer here . .at least I thought it was easier . .lol
The first time price closed over the 1.6 that brn level didnt have much confluence yet. The more times this level was touched the more traders were aware of it and in time it started to be noticable on daily tf. Lol , i guess i missed a whole page of good answers
  • #87,642
  • Feb 2, 2011 4:08am Feb 2, 2011 4:08am
Quoting Ifmyante
It's a very important distinction though.

I wouldn't be still babysitting this short had I waited for the daily close!
Thats right Ifmy. . .No Daily Close below the 1.3650 . .I still view it as a Support level..
Indicators show the past. Price Action "Indicates" the future.
  • #87,643
  • Feb 2, 2011 4:12am Feb 2, 2011 4:12am
Morning all,

I am holding 2 positions GBPUSD long and EURAUD short.

GBPUSD l have set my TP tp 1.6258 is that too optimistic (currently +20 pips) and i am not sure if i should close the EURAUD which is currently -34 pips or hold.

Any opinions are welcome.
  • #87,644
  • Feb 2, 2011 4:12am Feb 2, 2011 4:12am
Quoting Greenhaze
The first time price closed over the 1.6 that brn level didnt have much confluence yet. The more times this level was touched the more traders were aware of it and in time it started to be noticable on daily tf. Lol , i guess i missed a whole page of good answers
Yep . .a nice clean and clear Resistance level and a strong one at that. Then Price broke through and closed above on the daily. . .now at strong Support level. . .and look at her go . .
Indicators show the past. Price Action "Indicates" the future.
  • #87,645
  • Feb 2, 2011 4:19am Feb 2, 2011 4:19am
Quoting jarroo
Thats right Ifmy. . .No Daily Close below the 1.3650 . .I still view it as a Support level..
This I will NEVER FORGET!!!!!!!!!!!!!
  • #87,646
  • Feb 2, 2011 4:20am Feb 2, 2011 4:20am
Quoting sammy31
Morning all,

I am holding 2 positions GBPUSD long and EURAUD short.

GBPUSD l have set my TP tp 1.6258 is that too optimistic (currently +20 pips) and i am not sure if i should close the EURAUD which is currently -34 pips or hold.

Any opinions are welcome.
Can you show your setups and why you took them?
Indicators show the past. Price Action "Indicates" the future.
  • #87,647
  • Edited 4:40am Feb 2, 2011 4:26am | Edited 4:40am
Quoting jarroo
Can you show your setups and why you took them?

Thanks Jarroo. This is a silly question but I have not posted a chart before on FF, I have tried printscreen and pasting but it's not working. Could you please tell how I can post my chart?
  • #87,648
  • Feb 2, 2011 4:29am Feb 2, 2011 4:29am
Quoting sammy31
Morning all,

I am holding 2 positions GBPUSD long and EURAUD short.

GBPUSD l have set my TP tp 1.6258 is that too optimistic (currently +20 pips) and i am not sure if i should close the EURAUD which is currently -34 pips or hold.

Any opinions are welcome.
Hi Sammy, if I was now in profit on Cable I'd have SL at BE.

Re EURAUD, I'm in the same boat, and am watching the 1.3685 area for closes. I do hope it moves South soon!

Michael
Attached Image (click to enlarge)
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  • #87,649
  • Edited 5:53am Feb 2, 2011 4:32am | Edited 5:53am
Jarroo,

Thick BUOB got closed above 1.51, it doesn't really look swing low..but happend at pullback...but prob is it got closed below 1.5150..S-R level..how to think about this...?
Attached Image (click to enlarge)
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  • #87,650
  • Edited 5:26am Feb 2, 2011 4:37am | Edited 5:26am
Quoting Ifmyante
Hi Sammy, if I was now in profit on Cable I'd have SL at BE.

Re EURAUD, I'm in the same boat, and am watching the 1.3685 area for closes. I do hope it moves South soon!

Michael
Thanks Michael, my GBPUSD position was trailing so is now closed for 7 pips which is a shame as GBPUSD has now gone up.

Glad I am not the only one with EURAUD, I will post some charts hopefully soon, once l know how to
  • #87,651
  • Feb 2, 2011 4:38am Feb 2, 2011 4:38am
Quoting AvanishDemo
Jarroo/Ghous,

Thick BUOB got closed above 1.51, it doesn't really look swing low..but happend at pullback...but prob is it got closed below 1.5150..S-R level..how to think about this...?
I know how little I know, and I hope you can see it too, but I'd hate to have a stop loss so far below me (bottom of bar) and a strong FTA (1.52) so close above
  • #87,652
  • Feb 2, 2011 4:41am Feb 2, 2011 4:41am
Quoting sammy31
Thanks Michael, my GBPUSD position was trailing so is now closed for 7 pips which is a shame as GBPUSD has now gone up.

Glad I am not the only one with EURAUD, I will post some charts hopefully soon, once l know how to
Are you mt4?
  • #87,653
  • Edited 4:56am Feb 2, 2011 4:42am | Edited 4:56am
Quoting Ifmyante
Are you mt4?
yes I am.

My posts seem to take long as I am a new member and have to go through the moderation queue.
  • #87,654
  • Edited 5:02am Feb 2, 2011 4:52am | Edited 5:02am
Quoting sammy31
Morning all,

I am holding 2 positions GBPUSD long and EURAUD short.

GBPUSD l have set my TP tp 1.6258 is that too optimistic (currently +20 pips) and i am not sure if i should close the EURAUD which is currently -34 pips or hold.

Any opinions are welcome.
I also took this trade currently as follows:

half out at +30 pips
quarter out +83 pips
final quarter currently at +160 pips (SL at BE) - Now closed for +160pips

TP set to 1.6250

Wasn't the best setup but the BUOB was strong (for me) and the close of the BUOB above 1.6 was the first time it closed above 1.6 since Nov.

Will watch for an hour or so with a view to close soon.

SR2
  • #87,655
  • Edited 5:11am Feb 2, 2011 5:00am | Edited 5:11am
Quoting AvanishDemo
Jarroo/Ghous,

Thick BUOB got closed above 1.51, it doesn't really look swing low..but happend at pullback...but prob is it got closed below 1.5150..S-R level..how to think about this...?
That's the main problem with it . .its not at a swing Low.

But I like your take on the Close above . .I understand you were looking at the RN 1.5100. But if you look a little closer at the chart you will see that the 1.5065ish level has a history of Price not being able to close above it. You can see that this transformation from Resistance to Support (once Price broke through and close above on the Daily) stop that nice looking PB in its tracks. Which I believe you mentioned in an earlier post but at the 1.5100.

With that being said, the 4 Hour BUOB has a chance, where as the 4 hour BEOB doesn't . . . but they are both best played at their proper swing points.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpchf0244.jpg Size: 103 KB
Indicators show the past. Price Action "Indicates" the future.
  • #87,656
  • Feb 2, 2011 5:05am Feb 2, 2011 5:05am
My NGG1 chart is no longer updating on my Demo FXPro feed. Anybody else having issues with this?

thanks
SR2
  • #87,657
  • Feb 2, 2011 5:07am Feb 2, 2011 5:07am
Quoting jarroo



(Sorry if this appeared to be a trick question . .now I know why the PM I got was so long . .lol)

lol..dat was good 1!!
  • #87,658
  • Feb 2, 2011 5:07am Feb 2, 2011 5:07am
Quoting sr2
My NGG1 chart is no longer updating on my Demo FXPro feed. Anybody else having issues with this?

thanks
SR2

Mine is not updating either (FxPro) .. .
Indicators show the past. Price Action "Indicates" the future.
  • #87,659
  • Feb 2, 2011 5:13am Feb 2, 2011 5:13am
Look at this lovely 1H PB off PPZ doing exactly what it was supposed to do
Attached Image (click to enlarge)
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  • #87,660
  • Feb 2, 2011 5:17am Feb 2, 2011 5:17am
Quoting Ifmyante
Look at this lovely 1H PB off PPZ doing exactly what it was supposed to do
Not the best in size but the the location was very good 1.3650.. .Daily/Weekly Support level. What would you think of it if the Daily closed below the 1.3650??
Indicators show the past. Price Action "Indicates" the future.
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