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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

  • #91,701
  • Mar 15, 2011 7:38pm Mar 15, 2011 7:38pm
ppz 61.8....didn't exactly touch ....off by 4 pips on this feed....what's a few pips though?
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  • #91,702
  • Mar 15, 2011 8:37pm Mar 15, 2011 8:37pm
Quoting AnimalHungry
Also, FWIW, that daily GJ PB was trading right into a weekly PPZ around 132.75. So my logic would be that price has already made the move it was going to and stopped at the PPZ. Just my 2 cents.

Carry on...

Simon
Simon my man
  • #91,703
  • Edited 8:59pm Mar 15, 2011 8:47pm | Edited 8:59pm
u mean TT at 1.62 bcos of breakout of C-box..?also so much of price history at 1.62...too many bars lined up there

sry,im just practicing 5 setups as of now..PB,IPB,IB,BUOB,BEOB.

Quoting jarroo
The 1.6180 is not the Highest Close of Resistance but it is up there as a Close level. . .I wouldn't ignore it . .good place to hide a stop loss under . .
i was waiting for this IPB too..nicely closed below 1.4..but skipped it as its not bearish close..i feel this may work bcos story is nicely lined up..lets see(just my thoughts)
Quoting jarroo
Well, what do you know . .. . . no surprise, right ghous . .
  • #91,704
  • Mar 15, 2011 9:35pm Mar 15, 2011 9:35pm
Quoting mbqb11
Not to start a back and forth of course but I have to heavily disagree. PA has been pretty clear over the last few days doing exactly what we would expect. Yes the volatility is high but that doesn't mean PA is less reliable, it is just PA in a different environment(this is the key people ignore). "irrational" markets are some of the best times to find setups

Again just me playing the devil advocate on ya tj

Best
Mike
Have you noticed that the Lower TFs (1hr, 4hr) seem to be giving better looking signals with PA these last few days?
  • #91,705
  • Mar 15, 2011 9:42pm Mar 15, 2011 9:42pm
[quote=AlanB;4473777]Hey Mike,

That GBP/USD pinbar killed me - I took it with a fairly aggressive trade I guess, not waiting for full confirmation, as I had to go away and wouldn't be there for it, but I set a nice tight stop loss accepting I may stop out if it doesn't go my way and come back to see .. 300 bucks down! WTF.


PLEASE NOTE PEOPLE !!! gbp/usd ... LAST WEEK FINISHED AS A Bearish outside bar ( BEOB) ...

THE PIN THAT WAS FROM LAST FRIDAY , LIKE MIKE SAID WOULD HAVE DONE ITS JOB ..

BEST

V
  • #91,706
  • Mar 15, 2011 9:43pm Mar 15, 2011 9:43pm
Quoting AvanishDemo
u mean TT at 1.62 bcos of breakout of C-box..?also so much of price history at 1.62...too many bars lined up there

sry,im just practicing 5 setups as of now..PB,IPB,IB,BUOB,BEOB.


i was waiting for this IPB too..nicely closed below 1.4..but skipped it as its not bearish close..i feel this may work bcos story is nicely lined up..lets see(just my thoughts)
Yes A a bearish close would have been nicer.

But this one fulfills most of the needed requirements. Back against a major PPZ/RN, a close below it, a nice long nose, and a nice ring to it (double top)

Me likes it.

g.
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I believe . . .
  • #91,707
  • Mar 15, 2011 10:13pm Mar 15, 2011 10:13pm
Quoting spookie94
Have you noticed that the Lower TFs (1hr, 4hr) seem to be giving better looking signals with PA these last few days?
Hey Spook

Not in particular, I think with some of the larger swings it makes it a bit easier to get in on the lower timeframes, but I still am treating things as business as usual just in a more volatile market if that makes sense

Best
Mike
  • #91,708
  • Mar 15, 2011 11:24pm Mar 15, 2011 11:24pm
Quoting jarroo
That sounds crazy, Steve . .hang tough buddy and be safe.

Just got back from the Chinese embassy who said, you must have 6 months on your passport to get a visa for China but, considering the British embassy screwed you over, we will give you a visa then you can send off for your passport from China.

What a bunch of fascists the British embassy has become.
They were not like that previously, I have previously received assistance from them above the call of duty. Too bad but as the Chinese are willing to save my ass, I owe them thanks.
  • #91,709
  • Mar 16, 2011 1:14am Mar 16, 2011 1:14am
jus watching this IPB..not really a good retracement..but it meets 38.2 Fibo..no RN..but lot of icicles out there at 1.2830..let see if it reaches 1.2778
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  • #91,710
  • Mar 16, 2011 1:36am Mar 16, 2011 1:36am
Quoting mbqb11
Hey Ammar

We can see how strong the box played into effect. What happens is people take that pinbar long and just "hope and pray" that it busts on through and then price continues to consolidate and they take another loss

I call it trying to be a hero(been there done that)

Best
Mike
Hey Mike
Yes I see that. Thanks for the heads up.

Thanks
Ammar
  • #91,711
  • Mar 16, 2011 1:59am Mar 16, 2011 1:59am
Ok, most of the time price will reach it's FTA from PB or BUOB setup.

Now the only problem I see is the need to perfectly locate this FTA before the break.

So can we somehow make this process of choosing a FTA more objective? Or it is purely an art?

Many times I see that the size of a setup bar makes our FTA a bit further away, i.e. bigger the bar the further is FTA.

After fact I always agree that FTA has been reached. And most traders will agree too. But how to agree on our FTA before the fact?

Any ideas are welcome...

  • #91,712
  • Mar 16, 2011 2:16am Mar 16, 2011 2:16am
Quoting Adilius07
Ok, most of the time price will reach it's FTA from PB or BUOB setup.

Now the only problem I see is the need to perfectly locate this FTA before the break.

So can we somehow make this process of choosing a FTA more objective? Or it is purely an art?

Many times I see that the size of a setup bar makes our FTA a bit further away, i.e. bigger the bar the further is FTA.

After fact I always agree that FTA has been reached. And most traders will agree too. But how to agree on our FTA before the fact?

Any ideas are welcome...

...
It is your job to find the FTA using the most conflulenced area just above/below the setup bar Adi. Nobody have to agree with what you have on the chart, your own experience will verify your decision making. You are progressing quite well and last trades are good example of it so believe that You are the one responsible for your success and it will come but only thru experience and practice.

Cheers
  • #91,713
  • Mar 16, 2011 2:21am Mar 16, 2011 2:21am
Quoting Greenhaze
It is your job to find the FTA using the most conflulenced area just above/below the setup bar Adi. Nobody have to agree with what you have on the chart, your own experience will verify your decision making. You are progressing quite well and last trades are good example of it so believe that You are the one responsible for your success and it will come but only thru experience and practice.

Cheers


so it is mostly an art then... I have this tendency to categorize, classify and prioritize things.. and FTA will not succumb into this...
  • #91,714
  • Mar 16, 2011 3:20am Mar 16, 2011 3:20am
Hello, Pinbar

Good luck with your passport, and welcome to China, not sure how long will you stay in China, and where are you going to settle down for a while. if you are going to Shanghai, please contact me, I may offer you some convenience


Jeurre



Quoting Pinbar
Just got back from the Chinese embassy who said, you must have 6 months on your passport to get a visa for China but, considering the British embassy screwed you over, we will give you a visa then you can send off for your passport from China.

What a bunch of fascists the British embassy has become.
They were not like that previously, I have previously received assistance from them above the call of duty. Too bad but as the Chinese are willing to save my ass, I owe them thanks.
  • #91,715
  • Mar 16, 2011 3:25am Mar 16, 2011 3:25am
Quoting artov
It's going to be interesting to see how it deals with the descending trendline.

That would be the start of part of Price moving upward. That's why I said a Close above the current Monthly HCR (.8700) would be a good start.


Price could fall back downward and continue the squeeze . . which is not a bad thing.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,716
  • Mar 16, 2011 3:44am Mar 16, 2011 3:44am
Quoting AvanishDemo
u mean TT at 1.62 bcos of breakout of C-box..?also so much of price history at 1.62...too many bars lined up there
Yes, for a TT at the 1.62 a stop loss below the 1.6180 would be what I would look for to place a S/L. Also, say we get a bullish PB that closes above the 1.62, a S/L below the 1.6180 would be what I would look for as well.

You can a see a TT stop loss at the 1.6180 would not have worked out. That's why PA Rules.

All those Highs at the 1.6100 looks like a good stop loss placement and/or some nice bullish PA to form.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,717
  • Mar 16, 2011 3:48am Mar 16, 2011 3:48am
Quoting jeurre
Hello, Pinbar

Good luck with your passport, and welcome to China, not sure how long will you stay in China, and where are you going to settle down for a while. if you are going to Shanghai, please contact me, I may offer you some convenience


Jeurre

Hi, thanks for the offer.

I shall be in Harbin then go to HK and back to Harbin and make the occasional visit to Japan.
  • #91,718
  • Mar 16, 2011 3:51am Mar 16, 2011 3:51am
Quoting Pinbar
Just got back from the Chinese embassy who said, you must have 6 months on your passport to get a visa for China but, considering the British embassy screwed you over, we will give you a visa then you can send off for your passport from China.

What a bunch of fascists the British embassy has become.
They were not like that previously, I have previously received assistance from them above the call of duty. Too bad but as the Chinese are willing to save my ass, I owe them thanks.

Well good news I see... I have got few contacts that can be helpful as well if you like to grab few contact numbers PM me..

Be safe !!!!

Cheers

vito
  • #91,719
  • Mar 16, 2011 3:53am Mar 16, 2011 3:53am
have a nice stay

Quoting Pinbar
Hi, thanks for the offer.

I shall be in Harbin then go to HK and back to Harbin and make the occasional visit to Japan.
  • #91,720
  • Mar 16, 2011 3:58am Mar 16, 2011 3:58am
Quoting AvanishDemo
jus watching this IPB..not really a good retracement..but it meets 38.2 Fibo..no RN..but lot of icicles out there at 1.2830..let see if it reaches 1.2778
Does not meet many of ghous' requirements . .ghous would not like . .nor do I . .even if it works out.

I understand you're just watching ..
Indicators show the past. Price Action "Indicates" the future.
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