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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

  • #89,701
  • Feb 21, 2011 4:24pm Feb 21, 2011 4:24pm
Quoting jarroo
I like your style GH .. .
Thanks Jarroo... Good to hear that from a person like You. I wont forget how many nights i was staying awake , looking for the answers on this thread , beating my head against the wall and trying to put everything in a uniform concept. Sometimes it is better to leave all trading realated things for a week or two just to let your mind to soak it....
  • #89,702
  • Feb 21, 2011 4:58pm Feb 21, 2011 4:58pm
I am watching it also and have placed a limit order just below the break as well. So much to learn but thats what its all about. Looking forward to the journey

Quoting Kalbar
Hi Traderslearners

Did not take any trades last week as no A+ setups(daily +weekly). Not seeing anything yet for this week apart from BEOB on GCHF weekly - have placed a sell order just below. Anyone else watching this one?
  • #89,703
  • Feb 21, 2011 5:32pm Feb 21, 2011 5:32pm
Quoting Greenhaze
Thanks Jarroo... I wont forget how many nights i was staying awake , looking for the answers on this thread , beating my head against the wall...
Currently my trading style!
  • #89,704
  • Feb 21, 2011 5:39pm Feb 21, 2011 5:39pm
CHFJPY maybe coming into play.

PB on hourly
PB possibly forming on 4hr
BEOB looking likely on daily off TL, RN, resistance and 365ma on weekly.
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  • #89,705
  • Feb 21, 2011 5:41pm Feb 21, 2011 5:41pm
We have a PB forming on CHFJPY H4. I took a look at H1 and it's a nice PB too.

It was formed quickly on a spike which was quickly rejected by strong PPZ.

Is a PB any less valid if it's formed so quickly?

As I see it, it's bearish all right, but I'd be much happier to short if it closed beneath the previous bar as a strong BEOB.

Any thoughts?

Edit: Snap 4FX!
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  • #89,706
  • Feb 21, 2011 5:48pm Feb 21, 2011 5:48pm
Quoting Ifmyante

Edit: Snap 4FX!
LOL!

It's a bit late for me to keep watching, Ifmy.

Will just have to get up early to see what's happening. Are you on an all night vigil?
  • #89,707
  • Feb 21, 2011 5:49pm Feb 21, 2011 5:49pm
Quoting Pipfire
I am watching it also and have placed a limit order just below the break as well. So much to learn but thats what its all about. Looking forward to the journey
Hi Pipfire, hi Kalbar,

are both of your position sizes measured for a SL above the BEOB?

If you are at your computers for a break south, will you look for a better value entry on a smaller TF?
  • #89,708
  • Feb 21, 2011 5:50pm Feb 21, 2011 5:50pm
Quoting 4FXsake
LOL!

It's a bit late for me to keep watching, Ifmy.

Will just have to get up early to see what's happening. Are you on an all night vigil?
I'm giving it about 20 more minutes. Got alot of pips to rake in tomorrow
  • #89,709
  • Edited 6:28pm Feb 21, 2011 6:00pm | Edited 6:28pm
Quoting Ifmyante
Hi Pipfire, hi Kalbar,

are both of your position sizes measured for a SL above the BEOB?

If you are at your computers for a break south, will you look for a better value entry on a smaller TF?
Can I make a point here for a newcomer? If you set a stop overnight remember that spreads can widen and your stop may trigger (unless you are with a fixed spreads broker - even then the price may adjust to the widening spread of the underlying market). If you are in a short position the bid may never get above the high of the bar from which you may be taking reference, however, the offer hits your stop.

I have been caught out on this before so hopefully it won't now happen to you!
  • #89,710
  • Feb 21, 2011 6:37pm Feb 21, 2011 6:37pm
Quoting Ifmyante
We have a PB forming on CHFJPY H4. I took a look at H1 and it's a nice PB too.

It was formed quickly on a spike which was quickly rejected by strong PPZ.

Is a PB any less valid if it's formed so quickly?

As I see it, it's bearish all right, but I'd be much happier to short if it closed beneath the previous bar as a strong BEOB.

Any thoughts?

Edit: Snap 4FX!

All the yens are spiking. GJPY has a beautiful BEOB forming at the BRN with divergence and triple top. It's a great looking bar, but I think I'm going to wait for daily bar closes tomorrow to get more information....that and 4H bars are against my rules right now....tempting though.
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  • #89,711
  • Feb 21, 2011 6:53pm Feb 21, 2011 6:53pm
Quoting Donkey
EURCAD seems to be in a good spot to open the week as it closed Fri at BRN 1.3500.

Nicely confluenced area - BRN, strong previous resistance, 150 ema, trendline and 50 retracement. A nice pinbar on Monday with a close below 1.3500 would be nice.

Also gotta be ready for 1.3500 to act as resitance (Fiday bar is strong looking BUOB with a nice close a few pips above the BRN).

You nailed that Eur/Cad, . .D.


Nice work.. .

Confluences Rule!!
Indicators show the past. Price Action "Indicates" the future.
  • #89,712
  • Feb 21, 2011 7:11pm Feb 21, 2011 7:11pm
Quoting Greenhaze
Thanks Jarroo... Good to hear that from a person like You. I wont forget how many nights i was staying awake , looking for the answers on this thread , beating my head against the wall and trying to put everything in a uniform concept. Sometimes it is better to leave all trading realated things for a week or two just to let your mind to soak it....

I know the feeling, GH. Its good to clear the head from all those chart cobwebs every now and then.

When I look over the years of my trading, all I was really doing is what Cyrus said so profoundly, " . . . . learn as much as you can, then simplify as much as you can."

That basically sums it up.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #89,713
  • Feb 21, 2011 7:13pm Feb 21, 2011 7:13pm
Jarroo, you remember the gold nugget you dropped from a while back on highest close of previous resistance, etc.

I was looking at that Daily BEOBon AUDNZD forming thinking, if i were into TT, I might look at the 1.3200 area to go long....Line chart shows a nice previous highest close of resistance area - that was also a previous gap up.

Look at the, 1H pin bar....
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  • #89,714
  • Feb 21, 2011 7:19pm Feb 21, 2011 7:19pm
Hey guys,

One question...

Is this a beob ? loool woww...

The news are supposed to come out in 40 mins and you can see some ppl already know the numbers

Os.
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Trade Smart
  • #89,715
  • Feb 21, 2011 7:21pm Feb 21, 2011 7:21pm
Unfortunately my order has already triggered but I am certainly going to remember that for next time. I did glance at the daily and i'm not sure there was a better entry(based on my great knowledge )

My guess would be that perhaps the 1.5300 BRN which also seems to be about the fib 61.8 on the daily Is this what you mean by a better entry? Thank you for the feedback


Quoting Ifmyante
Hi Pipfire, hi Kalbar,

are both of your position sizes measured for a SL above the BEOB?

If you are at your computers for a break south, will you look for a better value entry on a smaller TF?
  • #89,716
  • Feb 21, 2011 7:21pm Feb 21, 2011 7:21pm
Quoting jarroo
You nailed that Eur/Cad, . .D.


Nice work.. .

Confluences Rule!!

thanks jarroo. too bad i'm not advanced enough for IBs or TTs yet. I would've been in with this bar though...
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  • #89,717
  • Feb 21, 2011 7:23pm Feb 21, 2011 7:23pm
Quoting Donkey
Jarroo, you remember the gold nugget you dropped from a while back on highest close of previous resistance, etc.

I was looking at that Daily BEOBon AUDNZD forming thinking, if i were into TT, I might look at the 1.3200 area to go long....Line chart shows a nice previous highest close of resistance area - that was also a previous gap up.

Look at the, 1H pin bar....
They are great levels to watch . .Highest close of Resistance and Lowest close of Support . .on a PPZ level. It helps me fine tune the PPZ level a bit.

Its amazing how Price tend to touch on these Closes. Bundyraider talked about this line up many posts ago.

I'm sure you saw the Eur/Jpy Monthly highest Close of Resistance. Just an added level to watch for me . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,718
  • Feb 21, 2011 7:24pm Feb 21, 2011 7:24pm
Os, there was a 6.2 earthquake in NZ that is the reasons for the spike on NZD crosses

Quoting Osman
Hey guys,

One question...

Is this a beob ? loool woww...

The news are supposed to come out in 40 mins and you can see some ppl already know the numbers

Os.
  • #89,719
  • Feb 21, 2011 7:25pm Feb 21, 2011 7:25pm
Quoting Donkey
thanks jarroo. too bad i'm not advanced enough for IBs or TTs yet. I would've been in with this bar though...

Give it some time, friend . .give it some time . .you'll get there, no problem . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,720
  • Feb 21, 2011 7:25pm Feb 21, 2011 7:25pm
Quoting 4FXsake
Can I make a point here for a newcomer? If you set a stop overnight remember that spreads can widen and your stop may trigger (unless you are with a fixed spreads broker - even then the price may adjust to the widening spread of the underlying market). If you are in a short position the bid may never get above the high of the bar from which you may be taking reference, however, the offer hits your stop.

I have been caught out on this before so hopefully it won't now happen to you!

Hi 4FXsake, my broker is Oanda and they only widen the spreads over the weekend(I think).
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