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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

  • #88,681
  • Feb 10, 2011 5:26pm Feb 10, 2011 5:26pm
Quoting jkrick33
so if it PBT and CA, we can guarantee a move higher? then await a retracement to a BRN/PPZ/FIB/SR
there are NO guarantees in trading

But it sure helps give us more of an idea where price is likely to go, and use this information while entering/managing our current trades



Mike
  • #88,682
  • Feb 10, 2011 5:36pm Feb 10, 2011 5:36pm
pretty amazing how price respected the fib drawn on the weekly. Notice in the box those 2 A+ trades with weekly confluence, a BRN + bounce off the 365. Great stuff!
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  • #88,683
  • Feb 10, 2011 5:41pm Feb 10, 2011 5:41pm
Quoting Greenhaze
Price broke thru 133 level. H4 BUOB Might be nice opportunity to enter.
Nice trade on the GJ. Had my eye on it too only I didn't catch the ride. No surprises where it's stopped, right at the previous highs (Early nov.) I wonder if 133 is going to get a brief test as support?
  • #88,684
  • Feb 10, 2011 9:50pm Feb 10, 2011 9:50pm
Ghous, how about something like this?

Will let you look at this before I continue.

Looks like the best of both worlds and not too overpowering.
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  • #88,685
  • Feb 10, 2011 10:07pm Feb 10, 2011 10:07pm
Quoting Pinbar
Ghous, how about something like this?

Will let you look at this before I continue.

Looks like the best of both worlds and not too overpowering.
I'm not Ghous, but Pinbar, if your comfortable with your previous charts and have been trading successfully with them, I don't think there is a reason to change whatever is working. Point of the whole trading experience is to find what YOU are comfortable with and what you have confidence in. Whatever that may be.
  • #88,686
  • Feb 10, 2011 10:17pm Feb 10, 2011 10:17pm
Quoting DBallerz
I'm not Ghous, but Pinbar, if your comfortable with your previous charts and have been trading successfully with them, I don't think there is a reason to change whatever is working. Point of the whole trading experience is to find what YOU are comfortable with and what you have confidence in. Whatever that may be.
Hi DB

Thanks for your input.

Well, I am doing ok but BE is the average and thinking about it, I miss many good opportunities through analysis paralysis.

If I can defeat the AP, I think this may push me into the BE+ zone.

I don't want to end up being mediocre, if you see what I mean.

It sure is a Long, hard lonesome road we are walking.

I have been thinking about this a lot, and possibly, trying to predict PA is taking it's toll on me.

Perhaps, seeing the PA, then doing the analysis is the way to go.
  • #88,687
  • Feb 10, 2011 10:22pm Feb 10, 2011 10:22pm
Quoting mbqb11
I like your area Nick, just posted this in the PF

But I would want to see parity hit(1.00 BRN) as well as more clear bar size vs that down move as SC said
I might go to bed now and wake up in 3 1/2 hours to see what this one looks like
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  • #88,688
  • Feb 10, 2011 10:33pm Feb 10, 2011 10:33pm
Quoting Pinbar
Hi DB

Thanks for your input.

Well, I am doing ok but BE is the average and thinking about it, I miss many good opportunities through analysis paralysis.

If I can defeat the AP, I think this may push me into the BE+ zone.

I don't want to end up being mediocre, if you see what I mean.

It sure is a Long, hard lonesome road we are walking.

I have been thinking about this a lot, and possibly, trying to predict PA is taking it's toll on me.

Perhaps, seeing the PA, then doing the analysis is the way to go.
If your BE then your doing better than most in this business, far from mediocre. Map out the fibs, the PPZ, BRN, RN and pick out that have the most confluence. Set an alert for when price hits said area and look for PA. Simple as that

Just look at that chart I posted above, it's all you need IMO.
  • #88,689
  • Feb 10, 2011 10:40pm Feb 10, 2011 10:40pm
I thinks something may be sinking into this thick skull of mine. Noticed price approaching strong PPZ on the daily. In the past since I didn't see any PA I'd move on to the next pair. But this time dropped down to the 4hr to see a nice BEOB. Pretty easy to where this one was heading. This really hit home the importance that Mike, Jarroo, G, and SC have been preaching about recognizing the PPZs to look for PA.
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  • #88,690
  • Feb 10, 2011 10:45pm Feb 10, 2011 10:45pm
I think its time for bed. I'm starting to see things. WHO LET THE DOGS OUT
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  • #88,691
  • Feb 10, 2011 10:48pm Feb 10, 2011 10:48pm
Quoting spookie94
I might go to bed now and wake up in 3 1/2 hours to see what this one looks like
idk how i feel about trading against this bar on the daily
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  • #88,692
  • Feb 10, 2011 10:57pm Feb 10, 2011 10:57pm
Quoting DBallerz
idk how i feel about trading against this bar on the daily
One obvious challenge on this one is - it is trading into BRN 1.35.
On my chart(FXDD) 1) it is neither DBHLC nor BEOB 2) Not at absolute swing high.

Hence I skip it.
  • #88,693
  • Feb 10, 2011 11:07pm Feb 10, 2011 11:07pm
Quoting mbqb11
there are NO guarantees in trading

But it sure helps give us more of an idea where price is likely to go, and use this information while entering/managing our current trades



Mike
Hey Mike...is it ok to take trades whenever PBT &CA/CB comes into picture...?
jarroo always mention whenever price breaks PPZ level..

Good Trading!
  • #88,694
  • Feb 10, 2011 11:08pm Feb 10, 2011 11:08pm
Quoting cprao
One obvious challenge on this one is - it is trading into BRN 1.35.
On my chart(FXDD) 1) it is neither DBHLC nor BEOB 2) Not at absolute swing high.

Hence I skip it.
I was looking to see if this current bar on the 4hr would turn into a bullish pin off the 50 fib and the VBRN to go for a long. Just like location thats all. Will wait to see what it gives us if anything.
  • #88,695
  • Feb 10, 2011 11:10pm Feb 10, 2011 11:10pm
Quoting AvanishDemo
Hey Mike...is it ok to take trades whenever PBT &CA/CB comes into picture...?
jarroo always mention whenever price breaks PPZ level..

Good Trading!
Hey Avanish

It is not something I do, doesn't fit my style. But if it works and you test it sure go for it. I prefer to use price bar analysis alongside this type of information to further time my entries. The concepts are all important together as a whole though

Best
Mike
  • #88,696
  • Feb 10, 2011 11:16pm Feb 10, 2011 11:16pm
Quoting cprao
One obvious challenge on this one is - it is trading into BRN 1.35.
On my chart(FXDD) 1) it is neither DBHLC nor BEOB 2) Not at absolute swing high.

Hence I skip it.
Hasn't showed TOO much support when I last checked that pair. But little confluence otherwise, pretty easy pass.
  • #88,697
  • Feb 10, 2011 11:17pm Feb 10, 2011 11:17pm
Quoting spookie94
I was looking to see if this current bar on the 4hr would turn into a bullish pin off the 50 fib and the VBRN to go for a long. Just like location thats all. Will wait to see what it gives us if anything.
In fact, I am bearish on this pair based on weekly BEOB . I was expecting a daily/h4 PA that touches and closes below 1.35 to go short in line with weekly PA.
  • #88,698
  • Feb 10, 2011 11:26pm Feb 10, 2011 11:26pm
1.3500 on eur cad is an interesting area for some price action...
maybe a break below closing as a bullish pinbar with a long nose.
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meine augen sind die sterne
  • #88,699
  • Edited 11:41pm Feb 10, 2011 11:30pm | Edited 11:41pm
Hey Mike... I feel I should apologize to you for the way I spoke to you the other day. You were right man, this is no place for a flaming war & getting drawn into it like that, is akin to getting suckered into a bad trade and makes me as much to blame at the other person. I could have sent you a pm but, I also feel this is a trading lesson and perhaps others can benefit from it.
The two go together, there can be no separation. This is, I feel the philosophical side of trading and you guys including SC & Ghous were trying to keep me out of it.

Anyway, I apologize and will get down to trading and stay away from the trading rage.

Thanks folks.
  • #88,700
  • Feb 10, 2011 11:39pm Feb 10, 2011 11:39pm
Ghous....I just took a look at GBP/CAD which seems to have been ranging on the weekly. I drew these ppz on the daily chart at the main areas and would appreciate your thoughts in it.

Thanks in advance
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