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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

  • #91,961
  • Mar 20, 2011 5:13am Mar 20, 2011 5:13am
Some nice charts there.. I agree with the power of inside bars in these locations. also important that they are of a tighter range than the previous few bars 3-4+ , I have found that inside bars in a tight consolidation range are a waste of time trading as they can break both sides with an BEOB or BUOB forming on the next bar!, ie false breaks
Quoting crusen
Been wanting to add to the trading arsenal and will start trading the following IB setup on demo.

Comments welcome.

http://3.bp.blogspot.com/-tJo1OpSc3p...xample%2B1.png
  • #91,962
  • Mar 20, 2011 6:36am Mar 20, 2011 6:36am
Quoting Mak
Hello everybody

Hey Ghous. What do you think of the Friday PB in USDCAD? Although it has bounced from the 0.9800 yet it is almost touching the trend line as in the attached chart and is in a large consolidation area. Do you agree that it is a pass?

Any comments

Thanks
Ammar
Yes Ammar its a pass for me too.

Not tough to see price holdup where it did right? The 9850 and that bar high at 9800 make up for a logical reasoning for the pin bar and its rather good that we had a close above 9850.

However as you pointed out we're caught up in some crazy market action due to the Japan earthquake or whatever. We've had these whipsaws across the board which is always a clear sign for me to stay out.

Like I said not entirely untradable but certainly tricky looking at the way things have transpired in the last week or so.

g.
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I believe . . .
  • #91,963
  • Mar 20, 2011 6:58am Mar 20, 2011 6:58am
Quoting geniusztc
welcome ,my friend.enjoy 哈尔滨 PIJIU 。but it will be more difficult to trade forex in china . good luck .
Not at all. I have traded my live account in China before, NP.

I am now in Niigata and after leaving my laptop on the Shinkansen, I just got it back. How honest can you get to leave a brand new high end laptop on a train with your digital camera & MP3 player and get them all back in 3 hours. That is one thing I will say about Japan.

Anyway, just ate some really great sushi, with my wife, & in 18 hours I will be in China even though, I don't even have a ticket. Honest.

Later folks.
  • #91,964
  • Mar 20, 2011 7:04am Mar 20, 2011 7:04am
BASF worked out nice for me ;-)
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  • #91,965
  • Mar 20, 2011 9:39am Mar 20, 2011 9:39am
NU seems to be approaching an important level near RN 1.7400. Here's how I see it using Jarroo's HCR and LCS concepts.

First 2 charts show levels on weekly (1 zoomed in and 1 zoomed out). Second 2 are same on daily.
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  • #91,966
  • Mar 20, 2011 9:53am Mar 20, 2011 9:53am
Here is interesting stock chart. Weekly TF.
Do you think setup like this is tradable?
I worry about space, not much and a bit sideways. But overall up trend with TL confluence.

Also, if I may a question to anyone, Aser maybe or anyone with experince in stocks... if I have like 3K does it make any sense to go look for a stock broker? To trade stocks?! To risk 1% I could flip just a few stocks at a time, is there such a broker who's fees will make it worth doing? (CFD is not an option as I saw most brokers will require at leasr 20 CFD or so, like Alpari - so 3K would not be enough for sure to not violate my position sizing).

All I'm trying is to widen possible markets to watch. Thanks.
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  • #91,967
  • Mar 20, 2011 10:18am Mar 20, 2011 10:18am
Quoting Adilius07
Here is interesting stock chart. Weekly TF.
Do you think setup like this is tradable?
I worry about space, not much and a bit sideways. But overall up trend with TL confluence.

Also, if I may a question to anyone, Aser maybe or anyone with experince in stocks... if I have like 3K does it make any sense to go look for a stock broker? To trade stocks?! To risk 1% I could flip just a few stocks at a time, is there such a broker who's fees will make it worth doing? (CFD is not an option as I saw most brokers will require at leasr 20 CFD or so, like...
You can trade CFD's with IGMarkets with 3k
  • #91,968
  • Mar 20, 2011 10:24am Mar 20, 2011 10:24am
Quoting stewrigh
You can trade CFD's with IGMarkets with 3k
Hi Stewrigh, thanks for reply. Do you know can I buy just 1 CFD contract with IGMarkets? Going through their website right now and I don't see the minimal lot requirements for CFDs.
  • #91,969
  • Mar 20, 2011 10:28am Mar 20, 2011 10:28am
Quoting Adilius07
Here is interesting stock chart. Weekly TF.
Do you think setup like this is tradable?
I worry about space, not much and a bit sideways. But overall up trend with TL confluence.

Also, if I may a question to anyone, Aser maybe or anyone with experince in stocks... if I have like 3K does it make any sense to go look for a stock broker? To trade stocks?! To risk 1% I could flip just a few stocks at a time, is there such a broker who's fees will make it worth doing? (CFD is not an option as I saw most brokers will require at leasr 20 CFD or so, like...
yes, definately an interesting setup.

http://www.forexfactory.com/showthre...tl#post4485014
i don't know if IB (interactive brokers) has a minimum account-size.
their commissions are very low: 0.005 usd/share for us-stocks (minimum 1 usd per trade).
at least they don't have a minimum order-quantity.
meine augen sind die sterne
  • #91,970
  • Mar 20, 2011 10:35am Mar 20, 2011 10:35am
Quoting aserbfx
yes, definately an interesting setup.

http://www.forexfactory.com/showthre...tl#post4485014
i don't know if IB (interactive brokers) has a minimum account-size.
their commissions are very low: 0.005 usd/share for us-stocks (minimum 1 usd per trade).
at least they don't have a minimum order-quantity.
I swear I didn't see this chart you posted! WOW!!!!!!

IB have 5K or 10K minimum initial deposit I think. But this is not a problem, I could load that too, I just want to be able to trade very small position size (like I have this ability with Oanda) so I could gradually increase position size.

I really think I need to be more picky, I see good setups (they are rare) so I get very bored and depressed, lol, and with stocks (weekly TF) at least I will be sure I can make 1-2 trades per month for sure.
  • #91,971
  • Mar 20, 2011 11:05am Mar 20, 2011 11:05am
Quoting Adilius07
Hi Stewrigh, thanks for reply. Do you know can I buy just 1 CFD contract with IGMarkets? Going through their website right now and I don't see the minimal lot requirements for CFDs.
Not sure what you mean by 1 contract.

With CFD's you would trade in no of shares.

e.g. You could buy 1,000 shares of Corp A at $10 = $10,000

Normally margin is 10% so you need $1,000 free margin to buy those 1,000 shares.

You can buy 1 share at a time if you want.
  • #91,972
  • Mar 20, 2011 11:12am Mar 20, 2011 11:12am
MIKE and JARROO

Wondering if each of you have a moment to comment on the following:

This is a breakout and pullback question. Mike has a video about this.

Looking at one timeframe and then going to a lower timeframe for entry is the basis of the question here. Also, where price closes in relation to each timeframe is part of the question.

So, if we're looking at, for example, a 4h with a nice horizontal resistance level and on the 4h price moves above the resistance level but has not yet closed on the 4h above this level and we look at 1h for entry and on the 1h price has closed above the resistance level, pulled back the the level, formed a pin, the question here is, what are the thoughts and how are probabilities affected on taking the 1h trade now, before/if the 4h closes above the resistance level.

So then the next question is, how would you say probabilities affect the 1h if the 4h closed above and then the 1h formed the pin.

I'd think the response would be, see what price action does in the timeframe you're trading, but this thought arises because in a lot of Jarroo's posts we look for the close, for example on a daily, above or below a S or R level, AND THEN we look to, say 4h for price action.

Hope this make sense, it's kind of long.

http://4.bp.blogspot.com/-mo8RhYdqvC...timeframes.PNG
  • #91,973
  • Mar 20, 2011 11:13am Mar 20, 2011 11:13am
Quoting stewrigh
Not sure what you mean by 1 contract.

With CFD's you would trade in no of shares.

e.g. You could buy 1,000 shares of Corp A at $10 = $10,000

Normally margin is 10% so you need $1,000 free margin to buy those 1,000 shares.

You can buy 1 share at a time if you want.

Thanks I think I need to demo CFDs to understand them better.
I think I may be confused a little.
If small account (like 3-5K) is ok to trade CFD's I will learn all about them.
Thanks.
  • #91,974
  • Mar 20, 2011 11:50am Mar 20, 2011 11:50am
weekly chart of fico.
good looking buob in continuation weith the main trend and as a breakout of the high into fresh ground.
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meine augen sind die sterne
  • #91,975
  • Edited 12:19pm Mar 20, 2011 11:58am | Edited 12:19pm
Quoting Dan-FX
Hi All,

Been lurking for a while and working on my analysis, still demo trading. What are your thoughts on my High Grade Copper Daily chart (Alpari). Didn't like the multiple PBs as an entry but I do like the lastest BUB. Although wouldn't take this as RR is poor with nearby FTA. Looking for a PA test of PPZ to get in on longer term trend continuation.

The quality of this thread just gets better and better.

Thanks

https://lh5.googleusercontent.com/_T...pper_Daily.png...

Great chart Dan . .no surprise were Price found Support once PBT&CA the PPZ level. . .Nice.

Once we know where Support and Resistance can be found at PPZ levels, the next piece of the puzzle is good old PA. . .with the right Close , of course . .

Also some more thoughts on the HCR & LCS and how the can be used in addition to PPZ levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,976
  • Edited 12:22pm Mar 20, 2011 12:08pm | Edited 12:22pm
Quoting Be Cool
1. So a PPZ level need not to be redrawn at the recent HCR&LCS?

2.And if we are watching a certain PPZ level we look where the recent HCR&LCS are to see if they add confluence to our existing PPZ?

3. And if nearby HCR/LCS happens to be at different level from our PPZ then we watch to see if PA bar close above/below both our PPZ and HCR/LCS?Thanks
1. HCR/LCS can be at a PPZ level or just outside the PPZ level . . .remember PPZ levels are drawn where Highs and Lows meet.

2. Yes we look at the HCR/LCS as additional confluence or just more information about the PPZ level (and Consolidation areas, Swing Highs/lows).

3. Yes, a Close above or below a PPZ level and a HCR/LCS can only add to its strength of its Close.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,977
  • Mar 20, 2011 1:17pm Mar 20, 2011 1:17pm
Quoting mbqb11
Confluence is simply what multiple factors line up to make a trade stronger. Or what I call the story.

This case is simple. We have a very significant CLEAR(the key) trendline. The market was pretty much consolidating above this trendline for a long time. Price broke out and pulled back to the trendline as well as a round number of 1.27. Trendline is acting as our PPZ. This is confluence, this is story, this is a location to watch for PA in my book. Price action is our trigger point into a trade. PA still has to look good for me, but location...
Quoting mbqb11
They are not as rare as people think. Most people think its rare cause they trade too much during the month.

I always say would you rather take 2-3 trades a month and win, or take 20-30 trades and lose. Most would choose the former, but then they do the latter
This is Gold . .great stuff. . .
Indicators show the past. Price Action "Indicates" the future.
  • #91,978
  • Mar 20, 2011 1:34pm Mar 20, 2011 1:34pm
Hi folks - I'd very much like to find out more about IPBs. I've run a bunch of searches which have all come up with far too many hits to make much sense. So can anyone point me in the direction of some explanatory posts/charts/videos that explain IPBs please?

Cheers
Simon
  • #91,979
  • Mar 20, 2011 1:47pm Mar 20, 2011 1:47pm
Quoting madboy
This one looks good imo,it's got it all,location,confluence....
Quoting madboy
I was not concerned about that,the setup was to convincing for me,big mistake.

Its very convincing to me as well. I do not think it was a "big mistake".

The story was good . PBT&CB on the Daily . .good previous Support. etc,

The 4 Hour BEOB itself had limited Space, not at a Swing high . .sure, it would have been nice to have a close below the .9800. But I've seen these work out before without a hitch.

The only thing that really didnt fit was the time of day. It was late in the New York sesssion . .at the end of the trading day.

Let me put it this way . .it that setup happen at prime time trading hours .it would have hit that Low. . .even though it did hits its small target, the previous bar low.

Its happened to me many times madboy, the setup looks great and breaks during bad or low liquidity market times. . .you just have to give it a pass.
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Indicators show the past. Price Action "Indicates" the future.
  • #91,980
  • Mar 20, 2011 2:00pm Mar 20, 2011 2:00pm
Quoting kayhan7070
touch trade, sold@ 81.70
Nice .. .
Indicators show the past. Price Action "Indicates" the future.
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