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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

  • #89,801
  • Feb 22, 2011 1:01pm Feb 22, 2011 1:01pm
Quoting Osman
Thx for your words Ghous, could you tell us more about the story of the gbp/chf trade if you don't mind ?

Thx.

Os.
Everything's on the charts.

Starting from daily PA.

g.
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I believe . . .
  • #89,802
  • Feb 22, 2011 1:12pm Feb 22, 2011 1:12pm
Quoting menomoo
Question ? If this daily bar finished as is , do we regard this inverted pin bar ?

Thanks in advance

V
Hey Menomoo,

We like our IPBs at swing highs. This one isn't exactly at one. Its tucked up under the 1.37 which is nice but I don't like the proximity of the previous two swing high points being so close to the IPB.

On a broader scale, we have just bounced off the very important higher range of the consolidation box, and so that does sort of take a good chunk of a healthy story out of that IPB if you know what I mean. As I see it we may also have just broken out and pulled back to the bullish flag pattern trend line.

Hope this clears things up.

g.
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I believe . . .
  • #89,803
  • Feb 22, 2011 1:13pm Feb 22, 2011 1:13pm
Quoting Kalbar
Hi guys

got in on the GCHF Beob and took profit for 2% gain (demo). Sticking to daily/weekly for now and this trade puts me in the black for the year as I have only taken a few trades. Encouraging signs but long way to go for me yet!

Kal
All the great stuff in bold. Great going Kal

g.
I believe . . .
  • #89,804
  • Feb 22, 2011 1:17pm Feb 22, 2011 1:17pm
Quoting DBallerz
how are you guys managing this gbpchf trade?
Eagerly waiting to see a daily close below 1.52 in which case stop moves just above the 1.52

Half of the trade volume already pulled off at 1.52 and the remainder for now is set to BE.

g.
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I believe . . .
  • #89,805
  • Feb 22, 2011 1:24pm Feb 22, 2011 1:24pm
Quoting ghous
Everything's on the charts.

Starting from daily PA.

g.
good trade. This one did not forcibly pull me in when browsing weekly, so I didn't touch it.
Many choose unhappiness over uncertainty.
  • #89,806
  • Feb 22, 2011 1:48pm Feb 22, 2011 1:48pm
Quoting jarroo
Let's try this example . .See this Weekly "setup" in purple, let's call it a 2 day PB. It has its target in purple. We want price to close below its target to see if it can go lower. But we have to wait untill the end of its week. It closes below on the weekly . .cool. Now look at the Daily TF during this week. . .Daily chart not shown, you have to look at it. .. . .could you hold on untill the week's end??

Sorry for the error I made in this example, I meant to say 2 Week PB . .you guys knew what I meant . .right? It was just an example.

I didn't want to cause any confusion . . Well if its a 2 Week PB don't we have to for two weeks?. .yes that would be right but again its just an example. . .it doesn't even quailfy as a 2 Week. PB.
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Indicators show the past. Price Action "Indicates" the future.
  • #89,807
  • Feb 22, 2011 1:49pm Feb 22, 2011 1:49pm
Quoting ghous
Hey Menomoo,

We like our IPBs at swing highs. This one isn't exactly at one. Its tucked up under the 1.37 which is nice but I don't like the proximity of the previous two swing high points being so close to the IPB.

On a broader scale, we have just bounced off the very important higher range of the consolidation box, and so that does sort of take a good chunk of a healthy story out of that IPB if you know what I mean. As I see it we may also have just broken out and pulled back to the bullish flag pattern trend line.

Hope this clears things...
Thanks G , made it clear !!

Sure ! I see what i see, just wanted to make sure that it may be ipb but wrong place and time . So instead we will treat it bullish PA .

If thats the case than we better wait for it to break higher and comeback and test the upper zone ? Right ?

Cheers

v
  • #89,808
  • Feb 22, 2011 1:50pm Feb 22, 2011 1:50pm
Quoting jarroo
. .it doesn't even quailfy as a 2 Week. PB.

But this one does . .
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Indicators show the past. Price Action "Indicates" the future.
  • #89,809
  • Feb 22, 2011 1:58pm Feb 22, 2011 1:58pm
Quoting AvanishDemo
if im right with my chart then

yeah..that was scary..but then we gota wait til the week's end..weekly setups on weekly chart...n daily setups on daily..this would be better..

(1.6170 target as u mentioned in ur chart)
That's why we like to stay on the same time frame that the setup was presented on . for targets, S/L placements, etc.
Indicators show the past. Price Action "Indicates" the future.
  • #89,810
  • Feb 22, 2011 2:04pm Feb 22, 2011 2:04pm
Quoting Atc
Touch trade long

confluence----- ppz and RN 1.28 and 50 fib---and we get the bounce

It was good for a bounce . .enough to cover your risk.

I like it Bill. . .
Indicators show the past. Price Action "Indicates" the future.
  • #89,811
  • Feb 22, 2011 2:08pm Feb 22, 2011 2:08pm
Quoting mbqb11
Will be interesting to see how the daily closes, very big bar out of this range. Ideally it would have been a smaller bar closing out of this range instead of moving so far already

Best
Mike

You lost me here Mike . .don't we want a big bar out of its range at the break out??
Indicators show the past. Price Action "Indicates" the future.
  • #89,812
  • Feb 22, 2011 2:13pm Feb 22, 2011 2:13pm
Quoting ghous
Everything's on the charts.

Starting from daily PA.

g.
Nice explanation Ghous - whilst I did get on board taking a break of the weekly BEOB your explanation has given me even better understanding of the high probability of why this trade worked out!! It has put me in the black for this year so I am happy with that for now!

kal
  • #89,813
  • Feb 22, 2011 2:16pm Feb 22, 2011 2:16pm
Quoting AvanishDemo
Its amazing to see how market ACTUALLY respects all KEY levels n then find a setup over there n there u go!...as Jarroo always mentions it!n it works!!
Thanks Jarroo

Thx AD . .simple stuff, right ?. .
Indicators show the past. Price Action "Indicates" the future.
  • #89,814
  • Feb 22, 2011 2:16pm Feb 22, 2011 2:16pm
Quoting jarroo
You lost me here Mike . .don't we want a big bar out of its range at the break out??
Yes and No for how I trade

Having such a big bar cuts off a great deal of exit flexibility now as most of the major areas have been hit except the most important(the lower most blue line).

If price closed higher up(say at red market) but still strong out, you now have a lot more room and flexibility(space) to work with and larger potential. Such a large bar makes it a bit more tricky

I will probably talk myself into it, or the gbp/jpy for a quick hitter but it would have been a much better opportunity(start to finish) with a higher up bar that was just breaking out

Just something I look for

Mike
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  • #89,815
  • Feb 22, 2011 2:20pm Feb 22, 2011 2:20pm
Quoting mbqb11
Yes and No for how I trade

Having such a big bar cuts off a great deal of exit flexibility now as most of the major areas have been hit except the most important(the lower most blue line).

If price closed higher up(say at red market) but still strong out, you now have a lot more room and flexibility(space) to work with and larger potential. Such a large bar makes it a bit more tricky

I will probably talk myself into it, or the gbp/jpy for a quick hitter but it would have been a much better opportunity(start to finish) with a higher up bar...
Oh I see now . . maybe how it closed on the 4 hour . .something like that or was that to big also.


thanks Mike.
Indicators show the past. Price Action "Indicates" the future.
  • #89,816
  • Feb 22, 2011 2:22pm Feb 22, 2011 2:22pm
Quoting jarroo
Oh I see now . . maybe how it closed on the 4 hour . .something like that or was that to big also.


thanks Mike.
nope 4hr was good, talked myself out of it coming off holiday and it was 8pm est roughly. That one I lost a bit of sleep on lol

Mike
  • #89,817
  • Feb 22, 2011 2:25pm Feb 22, 2011 2:25pm
Quoting mbqb11
nope 4hr was good, talked myself out of it coming off holiday and it was 8pm est roughly. That one I lost a bit of sleep on lol

Mike

That was momentum building on the holiday . . . lol

Mike could you tell us how Price Action predicted Libya, and NZ earthquake?
Indicators show the past. Price Action "Indicates" the future.
  • #89,818
  • Feb 22, 2011 2:34pm Feb 22, 2011 2:34pm
Quoting jarroo
That was momentum building on the holiday . . . lol

Mike could you tell us how Price Action predicted Libya, and NZ earthquake?
aint that the truth. We just have to get out of our own way. I still find ways to do that

Mike
  • #89,819
  • Feb 22, 2011 2:38pm Feb 22, 2011 2:38pm
Quoting mbqb11
aint that the truth. We just have to get out of our own way. I still find ways to do that

Mike


I hear you, Mike.


I was wondering how you were going to answer that . .lol . . just messing with you, brother. lol

Although we should swap PMs sometimes . I'm sure you gotten questions close to that one. (it was from me . . lol)
Indicators show the past. Price Action "Indicates" the future.
  • #89,820
  • Feb 22, 2011 2:45pm Feb 22, 2011 2:45pm
This one caught my eye as interesting.

I dont think I am going to take but some of these just intrigue me.

4HR BUOB
BRN of 1.35 - Price close strong
Also close above this red line (Not sure if this means anything)

I dont like that its late in the day and I dont like taht it only engulfs one bar. The size of the BUOB is nothing special either.

Any thoughts on this one? I would probably have take if it was a bigger bar. I jus thtink this one leaves me to vulnerable to a quick push down. With not many other bars holding it up.

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