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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

  • #87,921
  • Feb 3, 2011 5:06pm Feb 3, 2011 5:06pm
Quoting jarroo
The 28.00 looks like a good Price Filp . . meaning its now Support.

Update.
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Indicators show the past. Price Action "Indicates" the future.
  • #87,922
  • Feb 3, 2011 5:07pm Feb 3, 2011 5:07pm
Quoting jarroo
Yes I would agree with your assumption . .also the stronger the move away or change in direction . .the stronger the level . .meaning 1 and 3 are stronger than 2 and 4.
So do you only mark the more obvious ones like 1 and 3? I noticed that your FTA off the daily was at number 4.
  • #87,923
  • Feb 3, 2011 5:09pm Feb 3, 2011 5:09pm
Quoting Ifmyante
I feel really foolish for not wanting to take it. Even as a scalp I know it should work.

But I do have one important criterion missing

Enjoy the ride folks
I hear ya

I wish I had seen that before, IB with div. play. More my style of a trade
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  • #87,924
  • Feb 3, 2011 5:09pm Feb 3, 2011 5:09pm
what just happened on the USDCAD and cadchf lol?
  • #87,925
  • Feb 3, 2011 5:09pm Feb 3, 2011 5:09pm
Quoting sammy31
There is a pinbar on the daily cadchf, does that look like a good setup?
Hi Sammy

I'd like to see it under .95 before midnight.
  • #87,926
  • Feb 3, 2011 5:11pm Feb 3, 2011 5:11pm
Quoting spookie94
So do you only mark the more obvious ones like 1 and 3? I noticed that your FTA off the daily was at number 4.
Any obvious swing point on the Weekly . be they major or minor . .are going to be important on the Daily TF and down.

If Price breaks that Daily BEOB and hits number 4 and goes back upwards . .we will not be surprised.
Indicators show the past. Price Action "Indicates" the future.
  • #87,927
  • Feb 3, 2011 5:12pm Feb 3, 2011 5:12pm
Quoting DBallerz
what just happened on the USDCAD and cadchf lol?
Cool

Well it got under .95 before midnight. But I'd like it to stay there
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  • #87,928
  • Feb 3, 2011 5:12pm Feb 3, 2011 5:12pm
Quoting Ifmyante
Looks like the PB has fulfilled its obligations anyway
More often than not PB and OB do move in the right direction. Have a look at the spreadsheet I posted a few weeks back where I took every OB and PB on approx 20 currencies. You will be surprised by the results.

SR2
  • #87,929
  • Feb 3, 2011 5:16pm Feb 3, 2011 5:16pm
Quoting jarroo
Any obvious swing point on the Weekly . be they major or minor . .are going to be important on the Daily TF and down.

If Price breaks that Daily BEOB and hits number 4 and goes back upwards . .we will not be surprised.
Was just wondering if its best to zoom out on the weekly and mark the obvious S/R levels and just go with those.
  • #87,930
  • Feb 3, 2011 5:16pm Feb 3, 2011 5:16pm
Quoting Ifmyante
Cool

Well it got under .95 before midnight. But I'd like it to stay there
lol I hit my TP onn both usdcad and cadchf LOL. Made a quick 200 pips hah. Slippage maybe?
  • #87,931
  • Feb 3, 2011 5:17pm Feb 3, 2011 5:17pm
Quoting sr2
More often than not PB and OB do move in the right direction. Have a look at the spreadsheet I posted a few weeks back where I took every OB and PB on approx 20 currencies. You will be surprised by the results.

SR2
Surprised? My jaw fell off

I don't remember your exit strategy though. Did you stick to a set of rules?
  • #87,932
  • Feb 3, 2011 5:17pm Feb 3, 2011 5:17pm
Quoting spookie94
Was just wondering if its best to zoom out on the weekly and mark the obvious S/R levels and just go with those.

You just made Mike smile . . .
Indicators show the past. Price Action "Indicates" the future.
  • #87,933
  • Feb 3, 2011 5:18pm Feb 3, 2011 5:18pm
Quoting DBallerz
lol I hit my TP onn both usdcad and cadchf LOL. Made a quick 200 pips hah. Slippage maybe?
Easiest trades ever
  • #87,934
  • Feb 3, 2011 5:19pm Feb 3, 2011 5:19pm
Quoting jarroo
Any obvious swing point on the Weekly . be they major or minor . .are going to be important on the Daily TF and down.

If Price breaks that Daily BEOB and hits number 4 and goes back upwards . .we will not be surprised.
Why would'nt you choose point 2 as your FTA?
  • #87,935
  • Feb 3, 2011 5:20pm Feb 3, 2011 5:20pm
Quoting jarroo
You just made Mike smile . . .
Made us all smile
  • #87,936
  • Feb 3, 2011 5:22pm Feb 3, 2011 5:22pm
Hey guys curious what you think. Here is the GBP/CHF. To me if it closes within the left eye then it looks good pin bar a break of the 1.5200 and low of the pin would give an entry. First area of trouble looks to be the 1.51 level. I would move stop to B/E if it gets to this point then look towards 1.49 area. If it breaks here I would trail with a technical stop based on my MAs and price action. What do you guys think?
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  • #87,937
  • Feb 3, 2011 5:25pm Feb 3, 2011 5:25pm
Quoting spookie94
Why would'nt you choose point 2 as your FTA?
Its probably in play technically, but the BEOB has some Daily Space which could only help its momtenum . . the size could be bigger but I like its potential for a hard break.


Gotta go

later
Indicators show the past. Price Action "Indicates" the future.
  • #87,938
  • Feb 3, 2011 5:25pm Feb 3, 2011 5:25pm
hilarious!
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  • #87,939
  • Feb 3, 2011 5:27pm Feb 3, 2011 5:27pm
Hi xmzhang,

Gold - Price breaks Through and Closes above on my chart but I cannot see any other confirmation. I am trying to stay out of gold & silver personally for a few months unless if it's a really good setup l will go in for 0.05 pips per point as the pair is too volatile and I have too many scars from the two metals.

I am a learning would suggest getting feedback from the experts.


Quoting xmzhang
My E-J trade finally took off and broke that 2_D BEOB, thanx to Trichet, entry as usual on a pullback to a double top .........
  • #87,940
  • Feb 3, 2011 5:28pm Feb 3, 2011 5:28pm
Quoting redsox326
Hey guys curious what you think. Here is the GBP/CHF. To me if it closes within the left eye then it looks good pin bar a break of the 1.5200 and low of the pin would give an entry. First area of trouble looks to be the 1.51 level. I would move stop to B/E if it gets to this point then look towards 1.49 area. If it breaks here I would trail with a technical stop based on my MAs and price action. What do you guys think?
Would like for it to hit 1.54.
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