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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

  • #89,481
  • Feb 18, 2011 3:28pm Feb 18, 2011 3:28pm
[quote=slade1986;4405274]Watching the DLHC (within 1 pip) on Eur/Usd. First target would be the bar highs just below the 1.37. Off the 1.35, 365 ema, minor ppz.

Any comments?

Edit: Targets Hit
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  • #89,482
  • Feb 18, 2011 3:38pm Feb 18, 2011 3:38pm
[quote=slade1986;4412199]
Quoting slade1986
Watching the DLHC (within 1 pip) on Eur/Usd. First target would be the bar highs just below the 1.37. Off the 1.35, 365 ema, minor ppz.

Any comments?

Edit: Targets Hit

Nice confluences. I would call that a major PPZ level acting as strong Support (from previous Resistance) . .check the Weekly.

Nice . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,483
  • Feb 18, 2011 4:49pm Feb 18, 2011 4:49pm
Quoting aserbfx
well, i am speechless. up +6% this week. still holding 1/3 of my initial position.
Excellent !!
Trade Smart
  • #89,484
  • Feb 18, 2011 6:24pm Feb 18, 2011 6:24pm
Quoting jarroo
Glad to see you back, Flem.

Perseverance is a great quality to have in anything in Life, but more so in this business.

Demo until you get it right . . is the best advise that James16 preaches.
I am also on full on demo. I think trading is something you need to learn on your own.. you can listen/read all you want but unless you demo, gain experience and confidence. you can never make it.
back to my carlsberg for now
Trading is a test match not a Twenty20.
  • #89,485
  • Feb 18, 2011 6:25pm Feb 18, 2011 6:25pm
Great work guys, I think a very small light has gone on in my head regarding the PBT&CA / Below, still learning but this one seems to have stuck.

If I see this action on the daily, can I look for a pull back to test the area that has been broken on a smaller time frame. I mean I know I can but how reliable is this, assuming good PA? Eg. 30m,1H, 4 H

Similalry can we look for PBT&C on the 4H? Am I right to assume this is not as reliable?

I did this yesterday with the GJ, PBT&CA on the 4H, then I zoomed in on the 15m, found bullish PA and made 30+pips. Dont know if this was a fluke???

I will try and work out how to post the chart....

Any help appreciated
  • #89,486
  • Feb 18, 2011 6:55pm Feb 18, 2011 6:55pm
Charts I was referring to in last post - PBT&CA on 4H, zoomed in to 15m and found a pin (red up arrow) that I took at the break of the pin. Took full profit at 135.41

Any feedback welcome, particulalry on whether you guys would consider the 15m pin as a decent signal.

Hope these files load ok
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  • #89,487
  • Feb 18, 2011 7:20pm Feb 18, 2011 7:20pm
Quoting jarroo
It almost got there D.


The weekly BEOB (that's developing) looks interesting. Like to see a strong close below the previous bar..

This pair is definitely on my radar for next week - looks to be a highly confluenced area. The weekly BEOB looks nice - strong close but agree close below previous bar would have been nice. That being said we know outside bars retrace, so we definitely have a nice zone to watch for PA on daily next week (wish I had time to watch 4H more closely).

Zooming out on daily, I really like how Price has recently respected the 150 ema - especially at the BRN's.

And here's the thing that I like the most about the whole deal. PA teaches us where to "expect" a reaction and a high probability direction to enter when price gets there.

And after almost a year of study, demo, and a few live trades - what tells me I'm starting to finally get it is that I'll be looking for a trade at this spot next week. If it doesn't make it to my spot, or it makes it to my spot and I miss it, I really don't give a shit - there will be another the next week or the next week, on this pair or some other one. My job at this point is to keep studying and learning and practicing patience. Sorry for the happy hour fueled rant! Cheers.
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  • #89,488
  • Feb 18, 2011 7:36pm Feb 18, 2011 7:36pm
Quoting Grousman
Charts I was referring to in last post - PBT&CA on 4H, zoomed in to 15m and found a pin (red up arrow) that I took at the break of the pin. Took full profit at 135.41

Any feedback welcome, particulalry on whether you guys would consider the 15m pin as a decent signal.

Hope these files load ok

I have no idea what TF you are doing the analysis on but Jarroo is using the weekly TF.
How come you marked that area as PBT&CA then took a short trade?
If PBT&CA on the weekly, we are looking to that area to hold as support.

Just PBT&CA alone is of little use as it is not a PPZ until it has also created a PBT&CB area. For a PPZ to exists the area has to have fulfilled both roles of S&R, not just one. At least this is MHU of it.

Hope this helps.
  • #89,489
  • Feb 18, 2011 7:40pm Feb 18, 2011 7:40pm
Quoting Greenhaze
Now that is something.
Hey Greenhaze

Nice job on the silver front

I'm doing a bit of homework and looking at your trade:

- Can I ask, why the buy entry at 31.72?
- The daily BUOB that you referred to earlier, is it the one I marked out below the 28.00 BRN?
- Would you agree that the weekly PB looks good? (again it's sitting below 28.00 though)
- Does one need to be carefully when new highs are being made?

This is nothing more than an educational lesson for myself, I'm not being critical.

Happy weekend.

Good to see healthy profits being made.
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  • #89,490
  • Feb 18, 2011 7:44pm Feb 18, 2011 7:44pm
Just PBT&CA alone is of little use as it is not a PPZ until it has also created a PBT&CB area. For a PPZ to exists the area has to have fulfilled both roles of S&R, not just one. At least this is MHU of it.

Hope this helps.[/quote]

Thank you - sorry I need to be clearer. My rationale below;

135 is a PPZ
on the 4H PBT&CA
it pulled back and I entered LONG (red up arrow on my chart) based on a 15m pin rejection (135 acting as support)
Exited at FTA 135.41

Your help is greatly appreciated
  • #89,491
  • Feb 18, 2011 7:45pm Feb 18, 2011 7:45pm
[quote=slade1986;4412199]
Quoting slade1986
Watching the DLHC (within 1 pip) on Eur/Usd. First target would be the bar highs just below the 1.37. Off the 1.35, 365 ema, minor ppz.

Any comments?

Edit: Targets Hit
Great trade slade.

I missed this one, but gave it strong consideration. I was a gnat's hair away from putting in an order on the bar break, but decided against since it was a DBLHC and not an outside Bar. The BRN, PPZ, and EMA confluence with a strong close should have been enough to get me in.....next time .

First chart was how I drew up my entry with a planned full TP below 1.3700. Next chart is how I'm looking at next week. Going to look for a pull back to the broken trend line and retrace of Friday's bar at 1.3600.
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  • #89,492
  • Feb 18, 2011 8:06pm Feb 18, 2011 8:06pm
Quoting Grousman
Just PBT&CA alone is of little use as it is not a PPZ until it has also created a PBT&CB area. For a PPZ to exists the area has to have fulfilled both roles of S&R, not just one. At least this is MHU of it.

Hope this helps.
Thank you - sorry I need to be clearer. My rationale below;

135 is a PPZ
on the 4H PBT&CA
it pulled back and I entered LONG (red up arrow on my chart) based on a 15m pin rejection (135 acting as support)
Exited at FTA 135.41

Oh, I thought you had gone short on that PB.

You really need to use the higher TF for this not just the H4.


Your help is greatly appreciated[/quote]
  • #89,493
  • Feb 18, 2011 8:24pm Feb 18, 2011 8:24pm
Daily close above 135 (although weak close) is huge for me on GJ. Would love to see resistance turn support in this area next week.
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  • #89,494
  • Feb 18, 2011 8:37pm Feb 18, 2011 8:37pm
Quoting Donkey
Daily close above 135 (although weak close) is huge for me on GJ. Would love to see resistance turn support in this area next week.
My close is 134.882, my charts are NY closing time. What time is your chart set to? Do you take this into account or only "trade what you see"?

Cheers
  • #89,495
  • Edited Feb 19, 2011 11:38am Feb 18, 2011 11:02pm | Edited Feb 19, 2011 11:38am
Hey Ghous,
BEOB just CB the blue PPZ
FTA 1.52..
we can keep a small eye on TL..i like this
I'm still wondering u may turn this down..i dnt know!
would hav been better if it had better close
each n every setup appears in different scenarios so gotta be sure lol.
ur thoughts?

EDIT:Fib Ret n 1.54RN
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  • #89,496
  • Feb 18, 2011 11:13pm Feb 18, 2011 11:13pm
You should check this pair out on the daily, DBHLC, Below PPZ, Below 2 FIBS, BUOB on weekly as you pointed out, PBT&CB

EDIT: Behind BRN 5400....
Quoting AvanishDemo
Hey Ghous,
BEOB just CB the blue PPZ
FTA 1.52..
we can keep a small eye on TL..
I'm still wondering u may turn this down..i dnt know!
would hav been better if it had better close
each n every setup appears in different scenarios so gotta be sure lol.
ur thoughts?
  • #89,497
  • Feb 18, 2011 11:23pm Feb 18, 2011 11:23pm
Can someone please point me to some reading on this?
  • #89,498
  • Feb 18, 2011 11:26pm Feb 18, 2011 11:26pm
Quoting jarroo
Are you still in the N/U, Adil? Nice catch at the bottom of consolidation, that was a tough one.
Hi Jarroo, I got out @ 0.7643 - a little before my target but rexactly at 1R profit. Just wanted to close so I will not have to worry about it on weekend.
  • #89,499
  • Feb 18, 2011 11:31pm Feb 18, 2011 11:31pm
Quoting Grousman
My close is 134.882, my charts are NY closing time. What time is your chart set to? Do you take this into account or only "trade what you see"?

Cheers
Interesting. My close is NY close, but it's a demo MT4(Fxpro). I watch dailfx.com and their gj close is 134.8 - so maybe something with the fxpro price. I'm a newbie, so take it with a grain of salt, but I do trade what I see. Right now is mostly watching, with a little bit of trading.
  • #89,500
  • Feb 18, 2011 11:42pm Feb 18, 2011 11:42pm
Quoting Donkey
Interesting. My close is NY close, but it's a demo MT4(Fxpro). I watch dailfx.com and their gj close is 134.8 - so maybe something with the fxpro price. I'm a newbie, so take it with a grain of salt, but I do trade what I see. Right now is mostly watching, with a little bit of trading.
Cool, thanks. On my FXlite its NY close. On MT4 I just checked and its 135.17, thats all I need, something else to confuse me!! Which onen do I use???? On the FXlite its formed a PB at a BRN.....
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