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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

  • #89,861
  • Feb 22, 2011 9:17pm Feb 22, 2011 9:17pm
Quoting ghous
Everything's on the charts.

Starting from daily PA.

g.
This is the textbook stuff. One question, you don't set your SL?
  • #89,862
  • Feb 22, 2011 9:27pm Feb 22, 2011 9:27pm
Quoting 5.25
Inside bars on the 4h...
looks like a bearish flag, but you have to be very careful shorting silver atm
  • #89,863
  • Feb 22, 2011 9:29pm Feb 22, 2011 9:29pm
Quoting Adilius07
Ok, my order is @ 1.3563 pending
Let's see
I looked at this one closely too because I really like the 1.3500 and bar has a great close. The 1.3580 area kept me out though.
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  • #89,864
  • Feb 22, 2011 9:31pm Feb 22, 2011 9:31pm
Quoting Donkey
I looked at this one closely too because I really like the 1.3500 and bar has a great close. The 1.3580 area kept me out though.
Yes I have it on my charts too. 1.36 (just rounded it) let's see how price would act at that level
  • #89,865
  • Feb 22, 2011 9:32pm Feb 22, 2011 9:32pm
Quoting jarroo
That BEOB at the 1.0 had a target too . . .stop loss below its target.
i still am curious about the people who nailed 'it'.
  • #89,866
  • Feb 22, 2011 9:33pm Feb 22, 2011 9:33pm
Quoting Adilius07
Yes I have it on my charts too. 1.36 (just rounded it) let's see how price would act at that level
Once it gets through...great place to reduce risk and hide stop.
  • #89,867
  • Feb 22, 2011 9:34pm Feb 22, 2011 9:34pm
Quoting DBallerz
looks like a bearish flag, but you have to be very careful shorting silver atm
Thanks DB, I see your point. I'm hypothetically shortening a break of the BEOB before hitting the FTA (keeping in mind that 32.00 BRN is sitting in between.)
  • #89,868
  • Feb 22, 2011 10:04pm Feb 22, 2011 10:04pm
Quoting Dan Gilbert
We have a few very interesting areas to "keep an eye on" at after todays drop.
I <3 forex

set this sell limit shortly after that^^ post, about to delete it now.

chart is GBPJPY 4hr
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Many choose unhappiness over uncertainty.
  • #89,869
  • Feb 22, 2011 10:32pm Feb 22, 2011 10:32pm
Phew, have I been busy since Friday.

USD/JPY looking like it is going to test the 82.50 area again.

Maybe we will see some definitive bullish PA to get us into the groove of the BUOB 7 weekly bars back.

That said I am not sure if this is still having an effect on price or not as it did break but, came back. Would like to hear Jarroo's opinion as to this.
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  • #89,870
  • Feb 22, 2011 10:45pm Feb 22, 2011 10:45pm
Quoting Osman
Hi guys,
First of all congrats to all of those that took the GBP/CHF trade..
Everything looked good .. we had :
Divergence
Lower lows
Higher Lows
Close below 1.55 and clear FTA 1.52 as Sir Jarroo pointed out..
The thing that made not take this trade was the close of the BEOB bar, I was looking for a close below previous bar....
sorry for the late reply, i was asleep then.
anyway, u already had great replies..

im not sure if u are being too picky. i think u are already at a stage wherein u know what u want, what to look for, what to trade. if that is the case, getting a bit more flexible may harm u. unless u test this flexibility & see if it fits your trading personality.

personally, a weekly chart is too slow for me.
also, just like any higher timeframe (Daily & up), there will be trends within trends (price moves up & down, not a 1 way street)...
meaning, if weekly bar is a BEOB, then it's possible that u had an uptrend then a downtrend within that particular bar (remember a weekly bar is comprised of 5+ days price movement... not too mention that 5 days translates to several/many M5 - H4 bars).
u can exploit this (up&down) price movement (by trading daily & lower timeframes) & serve as a gauge if the weekly BEOB has a chance to move further down by checking lower timeframes.

check the IBFX charts below.
*FIRST chart shows gbpchf daily using line chart.
the horizontal blue line is 1.5365-ish.
*SECOND chart is daily candle chart with the same horizontal blue line.
red 'lines' show rounding tops/bottoms. the last rounding top had 2 successive PBs which tells me about potential price exhaustion. the subsequent downside break confirms this.
blue vertical line is the last candle of Friday. next to it is the Sunday bar.
the yellow horizontal line shows a non-strict multi-bar low breakout
*THIRD chart shows 1.5400 former support now resistance, last Friday (i'd consider 1.5350 to 1.5400 as PPZ). in short, PBT&CB 1.5400
*FOURTH chart is the weekly candle chart.

i wandered off a bit with my post, but my point is to use lower timeframes to gauge the price's potential move/direction & use this info to make a decision (to trade or not).
at least, this is how i'd do it (check daily & below to see if the weekly BEOB will have good potential to break down)

hope this helps
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  • #89,871
  • Feb 22, 2011 10:53pm Feb 22, 2011 10:53pm
this current GBPCHF action has had more chart images than any single trade in the thread history
Many choose unhappiness over uncertainty.
  • #89,872
  • Feb 22, 2011 11:22pm Feb 22, 2011 11:22pm
Quoting Dan Gilbert
this current GBPCHF action has had more chart images than any single trade in the thread history
are u sure?
how many charts?
which pair's on 2nd place?

haha.. didnt know u were counting Dan.
  • #89,873
  • Feb 22, 2011 11:30pm Feb 22, 2011 11:30pm
Quoting jarroo
That was momentum building on the holiday . . . lol

Mike could you tell us how Price Action predicted Libya, and NZ earthquake?
I think someone had some inside info on NZ earthquake and sold big just before the earth shook
  • #89,874
  • Feb 22, 2011 11:52pm Feb 22, 2011 11:52pm
Quoting 5.25
I folks.

Just a quick technical question here.

Does the body of this BEOB need to overlap the previous bar for it to be valid as opposed to relying on the wicks?

I'm more concerned with the retracement to the upside before closure (if that makes sense).

Note, there are x4 inside bars on the 4h charts if you take a look. Although I'm deviating to a potential trade setup now as opposed to my original question

Edit: I'm keen to hear what the master of Silver has to say (Greenhaze), and Mr Inside Bar, Ghous for the 4h.
Good morning young padawan (sry, couldnt resist )

I do not pay much attention to silver right now. Grabed some profits just before 34 level and moved my stop below 31 level. Daily BEOB doesnt look strong with that close over 33 level. Imo it was jus some profit taking becouse of last days chaotic events. This upper TL looks interesting
........Meditate on this, I will.
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  • #89,875
  • Feb 22, 2011 11:52pm Feb 22, 2011 11:52pm
Quoting Greenhaze
I think someone had some inside info on NZ earthquake and sold big just before the earth shook
to be honest, the other day, i thought "is it possible the earthquake was manufactured?"
u know, the earth is full of bad people nowadays, who seem to do anything to suit their needs.
  • #89,876
  • Feb 23, 2011 12:11am Feb 23, 2011 12:11am
Quoting supremeChaos
to be honest, the other day, i thought "is it possible the earthquake was manufactured?"
u know, the earth is full of bad people nowadays, who seem to do anything to suit their needs.
Agreed. With a name like 'Supreme Chaos' I have my suspicions
  • #89,877
  • Feb 23, 2011 12:15am Feb 23, 2011 12:15am
Quoting supremeChaos
to be honest, the other day, i thought "is it possible the earthquake was manufactured?"
u know, the earth is full of bad people nowadays, who seem to do anything to suit their needs.
Think your tinfoil hat needs adjusting there, Sir
When you have to shoot, shoot. Dont talk.
  • #89,878
  • Feb 23, 2011 12:28am Feb 23, 2011 12:28am
Quoting joelcf
Think your tinfoil hat needs adjusting there, Sir
so, posts like that will make u 'unlurk' huh, hahah
  • #89,879
  • Feb 23, 2011 12:30am Feb 23, 2011 12:30am
Quoting supremeChaos
so, posts like that will make u 'unlurk' huh, hahah
lol, im more of a hit-n-run artist than a lurker these days. Run off my feet of late and only get to check in and (attempt to) catch up rarely, unfortunately.

Seems like y'all are doing just fine without me... though, if you could slow down the posts per hour rate, it would make it a hell of alot easier to keep up
When you have to shoot, shoot. Dont talk.
  • #89,880
  • Feb 23, 2011 12:50am Feb 23, 2011 12:50am
Quoting joelcf
lol... though, if you could slow down the posts per hour rate, it would make it a hell of alot easier to keep up
hahah, yeah i often goof around so about 500 of my posts is equal to 1 of yours, in terms of content.
btw, i have been reducing my posts lately. based on FF stats, i now make 7.xx posts a day on average, compared to last year's 9.xx avg.
end of year, maybe down to 3-5 avg.
more lurking time.. hahah

Quoting 5.25
Agreed. With a name like 'Supreme Chaos' I have my suspicions
u mean im the culprit?
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