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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

  • #88,861
  • Feb 13, 2011 8:39am Feb 13, 2011 8:39am
Quoting KissFan
Here is a scenario on euro that could be consistant with last weeks price action, a wave count and my fib work. I am thinking that the DXY might roll back over (pause that refreshes) for a bit of retracement after the strong move end of last week.

K.I.S.S.
alright....

Get your crystal ball out and tell us what is going to happen this week
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Many choose unhappiness over uncertainty.
  • #88,862
  • Feb 13, 2011 9:57am Feb 13, 2011 9:57am
Hi Ghous,

You asked if I took that EUR USD Inside Bar trade.

I did not.

Had that Resistance line on there and was waiting to see if some PA showed. When the 4H IB showed it really jumped out at me but I am still investigating IB's.

If a good 4H pin or engulfing type of bar would have appeared there I would have taken it.

Thanks for noting the fib area.

I look at pure S/R and price action only.

IB's of all shapes and forms seem to form where I put my S/R lines very frequently but have not added them to the arsenal yet.

If you have any insight, I'd love to hear it, thanks!!!
  • #88,863
  • Edited 10:43am Feb 13, 2011 10:18am | Edited 10:43am
Quoting Pinbar
Working on single bar analysis as I think this may be the key to keeping it simple and gaining deeper insight into what the big guy is doing.

I thought I would post a short video so the seniors can see what I am up to and hopefully correct any errors.

Note, I am not even looking if these are good setups at a good location or not, I am taking them purely at face value and trying to work out the puzzle from the hints provided by price.

http://www.youtube.com/watch?v=9TZtqNuhKp4
Nice video Steve . .


Just remember that FTAs can be the final target or an area in which you adjust your trade management. i.e. James16's "This is Critical", Mike's 2 bar exit . .etc.

Targets (FTAs) in blue. The main PPZ level or S/R level (in green) would be the main target which, I think, you were pointing out.

Keep doing those videos, Steve . .I know they're helping others and I know they're helping you too . . ..
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Indicators show the past. Price Action "Indicates" the future.
  • #88,864
  • Feb 13, 2011 10:20am Feb 13, 2011 10:20am
Quoting Pinbar
Thanks Ghous.

I think this is probably a good exercise in keeping it simple if we can keep our eye off the right hand side of the screen.

Strategy tester is the way to go.

Quoting jarroo
Just remember that FTAs can be the final target or an area in which you adjust your trade management. i.e. James16's "This is Critical", Mike's 2 bar exit . .etc.

Targets (FTAs) in blue. The main PPZ level or S/R level (in green) would be the main target which, I think, you were pointing out.
..
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Indicators show the past. Price Action "Indicates" the future.
  • #88,865
  • Feb 13, 2011 10:23am Feb 13, 2011 10:23am
Quoting crusen
Hi Ghous,

You asked if I took that EUR USD Inside Bar trade.

I did not.

Had that Resistance line on there and was waiting to see if some PA showed. When the 4H IB showed it really jumped out at me but I am still investigating IB's.

If a good 4H pin or engulfing type of bar would have appeared there I would have taken it.

Thanks for noting the fib area.

I look at pure S/R and price action only....
Not much really, just that make sure the IB (or for that matter any PA bar) lines up nicely with the ongoing story and is clear in the shape, location and space departments.

g.
I believe . . .
  • #88,866
  • Feb 13, 2011 10:24am Feb 13, 2011 10:24am
Quoting Pinbar
Here you go.
Hi Pinbar, thank you very much! This one is much easier to use than those Periodicon or PL.

That's what AUDCAD W2 would look like. Was thinking about it but looks as skip would be a better option... too choppy...
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  • #88,867
  • Feb 13, 2011 10:41am Feb 13, 2011 10:41am
And here is NZDUSD H16. Great space!
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  • #88,868
  • Feb 13, 2011 10:41am Feb 13, 2011 10:41am
Quoting Dan Gilbert
stop was initially @ 0.8500

Was this the story behind your trade? . . .I'm just guessing.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,869
  • Feb 13, 2011 11:09am Feb 13, 2011 11:09am
Quoting mbqb11
on the radar for next week

Support , look to turn into resistance. Will watch for PA to confirm

Quoting Atc
yes, Mike, had this on the radar also ....was just going to post and read just above.....certainly looks long...maybe everybody else is to and we will get a nice burst...maybe no retest though...how many stops will get hit above ?

I'll be watching too . .

The Weekly sure is showing signs of going higher ..
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Indicators show the past. Price Action "Indicates" the future.
  • #88,870
  • Feb 13, 2011 11:29am Feb 13, 2011 11:29am
Quoting Shanetrader
Wow, this post is fantastic Jarroo, you have helped me immensley with this one post. i was always making sure closes were below round numbers.
This post highlights the even more specific and detailed we can be with closes . Thank you... wow that 1.5375 was the key with this trade. I thought a close below 1.54 was enough but i need to look ever more CLOSELY next time

Shane

Thanks Shane . .nice pun . . .lol.

Where Price Closes . . . or it may be better said . .Where Price fails to close above or below at these swing points, can be very telling on where Price may be heading.

You'll start seeing this before the fact, like in Chart 1. If that little PB closed below the nice build up of closes at the 1.5375 . .(Resistance), it had a big chance of going down. If the next bar closed below the 1.5375, it had a good chance of going down. . .I think you see my point.


Tell me what you think of the current Gbp/Chf on the Daily, based on its Daily closes. Chart 2.

(Any one can answer)
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Indicators show the past. Price Action "Indicates" the future.
  • #88,871
  • Feb 13, 2011 12:22pm Feb 13, 2011 12:22pm
Will the consolidation continue on the Usd/Chf. I like its chance of continuing . .in this case down. If not, up we go.
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Indicators show the past. Price Action "Indicates" the future.
  • #88,872
  • Feb 13, 2011 12:25pm Feb 13, 2011 12:25pm
Quoting jarroo
James16's "This is Critical". .
How are the rules for this exit management style?
  • #88,873
  • Feb 13, 2011 12:27pm Feb 13, 2011 12:27pm
Quoting jarroo
Thanks Shane . .nice pun . . .lol.

Where Price Closes . . . or it may be better said . .Where Price fails to close above or below at these swing points, can be very telling on where Price may be heading.

You'll start seeing this before the fact, like in Chart 1. If that little PB closed below the nice build up of closes at the 1.5375 . .(Resistance), it had a big chance of going down. If the next bar closed below the 1.5375, it had a good chance of going down. . .I think you see my point.


Tell me what you think of the current Gbp/Chf...
I will try.
The GBPCHF closed above the BRN 1.5500 on the Daily this shows that the 1.55 maybe will act as resistance. I would wait for a pullback to the 1.55 line and maybe we will get a nice PB or an BUOB ;-)
  • #88,874
  • Feb 13, 2011 12:28pm Feb 13, 2011 12:28pm
Quoting john225
How are the rules for this exit management style?

How are the rules or what are the rules?

Quoting james16
YES!!!

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there, we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.

jim
Indicators show the past. Price Action "Indicates" the future.
  • #88,875
  • Feb 13, 2011 12:37pm Feb 13, 2011 12:37pm
Quoting john225
I will try.
The GBPCHF closed above the BRN 1.5500 on the Daily this shows that the 1.55 maybe will act as resistance. I would wait for a pullback to the 1.55 line and maybe we will get a nice PB or an BUOB ;-)
I like it, john . .

Even better, if Price goes up higher and then back down to form a PB (with the close of the PB above the 1.55) then we can have that great Space that Mike talks about all the time. . . or even at the 1.5375
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Indicators show the past. Price Action "Indicates" the future.
  • #88,876
  • Feb 13, 2011 12:38pm Feb 13, 2011 12:38pm
Quoting jarroo
Will the consolidation continue on the Usd/Chf. I like its chance of continuing . .in this case down. If not, up we go.
I like 0.9920.
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Nothing personal,just business
  • #88,877
  • Feb 13, 2011 12:44pm Feb 13, 2011 12:44pm
Quoting fxgroup
I like 0.9920.
Yeah, that's a great level fxg.

What about the .9800?
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Indicators show the past. Price Action "Indicates" the future.
  • #88,878
  • Feb 13, 2011 12:46pm Feb 13, 2011 12:46pm
Quoting jarroo
I like it, john . .

Even better, if Price goes up higher and then back down to form a PB (with the close of the PB above the 1.55) then we can have that great Space that Mike talks about all the time. . . or even at the 1.5375
Agree that would be much better
  • #88,879
  • Feb 13, 2011 1:00pm Feb 13, 2011 1:00pm
Watching Eur/Cad. . .

Did momentum build on this BEOB and now will break through the 1.3375 PPZ or is momentum lost and we go back up. . .I like the former . .we shall see. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #88,880
  • Feb 13, 2011 1:27pm Feb 13, 2011 1:27pm
Quoting jarroo
Yeah, that's a great level fxg.

What about the .9800?
When we have a PA candle on M chart,its effect on lower tf is at least a consolidation,in our case is M-IPB,witch worked fine,making a sideways(SDW) market (yellow consolidation) on W.The 2WPB pushed the price up and closed above SDW's limit and blue ppz.It is true that the friday candle closed in the WPB's(2011.01.09) range and below 0.98 R,but if we see bullish PA as my chart,I belive that 0.9920 will be the next target.
P.S.Except the parity,0.9920 was the most important S on M chart and was never confirmed as R(just mine about market structure/dynamic).
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Nothing personal,just business
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