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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

  • #92,021
  • Mar 21, 2011 7:04pm Mar 21, 2011 7:04pm
Quoting jarroo
Well look what the cat drug in . . .Yo Bundy!!!

I think I finally figured out what you were talking about on Price's Closes . .a year or so later . .lol
Yeah , I still flick to the line chart at least once for every trade I put on.

Sorry, was travelling in the car when I posted and just checked in quickly before powering down, mate.
Bundy's status today: "Waiting..."
  • #92,022
  • Mar 21, 2011 7:15pm Mar 21, 2011 7:15pm
Quoting 5.25
WORD OF ADVICE

Dear Friends,

I know a 'Corporate Banker' in the beautiful Foster's HSBC tower in Hong Kong who lost $1,500,000HKD OF HIS OWN MONEY, BETTING THE WRONG WAY on the JPY. (Do the maths).

PLEASE DON'T LET THIS BE YOU! Use the J16 teachings, NOT some hocus pocus 'instinct' or pure speculation. I hear Macau has a pretty good Casino

Happy and above all, logical and safe trading.

Much love to the people of Japan
I would have thought a Corporate Banker would have known the Yen would appreciate after the disaster. Did he bet on a collapse? Or did he chase the market?
...See that's where charts rock eh.

I hope, for his sanity, that it was money he could afford to lose.
Bundy's status today: "Waiting..."
  • #92,023
  • Mar 21, 2011 7:17pm Mar 21, 2011 7:17pm
I am really struggling with my broker and their data. Has anyone ever gotten a fill like I did below? I never experienced this with futures. Luckily it was sim this time but this has happened in real as well.
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  • #92,024
  • Mar 21, 2011 9:08pm Mar 21, 2011 9:08pm
Heres one I'm watching, trying to learn from the master...

Not sure about the RN on a pair like this although probably close enough.

Poncho

EDIT: Forgot to label PBT&CA
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" I can read the left side of the chart, the right side's a Bitch!
  • #92,025
  • Mar 21, 2011 11:17pm Mar 21, 2011 11:17pm
EURCAD is in a confluenced area with some decent space:

 

  1. Well-defined PPZ
  2. BRN 1.400
  3. 78.6 Retracement
  4. 365 ema

A big bearish Pinbar tomorrow with high around 1.4100 and a close below the 365 would be nice.

Edit to add divergence too.

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  • #92,026
  • Mar 22, 2011 1:17am Mar 22, 2011 1:17am
isn't it a good time to set up long position in a long term ???
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A chart helps those who can read it.
  • #92,027
  • Mar 22, 2011 1:28am Mar 22, 2011 1:28am
Quoting geniusztc
isn't it a good time to set up long position in a long term ???
I saw this too, I like the long tail. but the close is really weak. So is almost doji like candle. I think it shows indecision more than possible reversal...
  • #92,028
  • Mar 22, 2011 1:34am Mar 22, 2011 1:34am
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...
Quoting jarroo
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.

Looks like its still holding as Support Dan-FX.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,029
  • Mar 22, 2011 1:54am Mar 22, 2011 1:54am
Quoting spookie94
So whats up with these nice looking PBs packed in these sucky boxes? If I had a preference E/J looks the best to me. If it could break above the 115.50 it could use the top of that box as support. A nice tight SL could go just below the 115.00.
I agree with you on the EJ, spookie.

It will be interesting to see where the Monthly closes.

Getting some Closes above the weekly box should turn that level into Support, agreed.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,030
  • Mar 22, 2011 2:36am Mar 22, 2011 2:36am
Quoting jarroo
Looks good D ..

If Price can't hold a Close below the .7350-.7360 (LCS Daily/Weekly) we're going up. . with the proper PA, of course . .


Edit: I may have to broaden this to the .7425 just saw the Monthly LCS. .Chart

Hey D, here's how I played this one. . .off the Hourly BUOB.

Price is hanging around the .7350-.7360 acting as Resistance as we expected but not falling hard. There was a bit of a bounce but it was short lived and it didn't present any big bearish candle, let alone any big bearish PA. . .this baby is going up.

The Hourly BUOB was the conformation for me.

No surprise of the reaction at the .7425, an easy target.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,031
  • Mar 22, 2011 2:48am Mar 22, 2011 2:48am
Quoting jarroo
Yes that's a good level at parity, 1.0000. Nice confluences there, for sure.

As sChaos had said, the confluences are lining up nicely to support a bearish move down . .we just need that trigger confrimation . Bearish PA.

The 4 hour IB may not be enough PA confirmation for me. .I don't like that it formed late on Friday . .the end of the week's trading.

The .9950 may be a good level to gauge where we maybe heading . .meaning if that level finds Support there, we may be heading up. We have been in a long term uptrend on the Aud/Usd....
The .9950 acted as Support (better seen on the 4 hour) and Price ran through the 1.0 like butter.

Let see how Price reacts to the 1.0100.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,032
  • Mar 22, 2011 2:53am Mar 22, 2011 2:53am
Quoting Greenhaze
AU longs look exhausted and we are aproaching interesting flip zone area on daily tf.
Hey GH . . . you look different to me for some reason . . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #92,033
  • Mar 22, 2011 3:12am Mar 22, 2011 3:12am
Quoting bundyraider
Yeah , I still flick to the line chart at least once for every trade I put on.

Sorry, was travelling in the car when I posted and just checked in quickly before powering down, mate.

That's cool, bundy. Good to see you drop by.


Here's a great series of posts (Step 1-6) by Mr. Bundy that's really cool.


Starting with this one. . .

Quoting bundyraider
Euro H/S Breakout Pullback - Step 1

Hi Lacika,

I've spent more time on this to help a few others out with choosing trades and levels a little better as well, so it's a little more involved than a quick chart would have been just for you.

Chart 1....
Indicators show the past. Price Action "Indicates" the future.
  • #92,034
  • Mar 22, 2011 3:30am Mar 22, 2011 3:30am
Quoting poncho1
Heres one I'm watching, trying to learn from the master...

Not sure about the RN on a pair like this although probably close enough.

Poncho

EDIT: Forgot to label PBT&CA
Looks good poncho . . .

These are always great to watch. My close is different on my feed but the story is the same.

The 2.1150 was a good one too.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,035
  • Mar 22, 2011 3:49am Mar 22, 2011 3:49am
Quoting jarroo
Hey D, here's how I played this one. . .off the Hourly BUOB.
Bravo . I was blinded by looking for bearish PA here, expecting .7350 to act as resistance and forgetting a good level can swap between support or resistance at any time.. That's a nice one Jarroo
  • #92,036
  • Edited 4:17am Mar 22, 2011 4:05am | Edited 4:17am
Quoting Sgrb1
Bravo . I was blinded by looking for bearish PA here, expecting .7350 to act as resistance and forgetting a good level can swap between support or resistance at any time.. That's a nice one Jarroo

I seen that get alot of people in trouble, including myself. Remembering that a strong Resistance level was once a strong Support level . .(and vice versa). is good to keep in mind.

I don't think you were blinded by looking for bearish PA at this level, because if some big bearish PA was presented it would have been of high quality due to its locational confluence. . . .but we barely got a bearish bar and when we did it was not impressive. . . this told me something was going on . . more supported upward movement ..
Indicators show the past. Price Action "Indicates" the future.
  • #92,037
  • Mar 22, 2011 4:20am Mar 22, 2011 4:20am
Sorry if someone already posted this. I've only started my coffee.

Something I'll be watching
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  • #92,038
  • Mar 22, 2011 4:24am Mar 22, 2011 4:24am
Quoting Ifmyante
Sorry if someone already posted this. I've only started my coffee.

Something I'll be watching
Breaking away from that Weekly/Monthly consolidation would be nice .. .
Indicators show the past. Price Action "Indicates" the future.
  • #92,039
  • Mar 22, 2011 4:36am Mar 22, 2011 4:36am
Quoting Donkey
EURCAD is in a confluenced area with some decent space:

 

  1. Well-defined PPZ
  2. BRN 1.400
  3. 78.6 Retracement
  4. 365 ema

A big bearish Pinbar tomorrow with high around 1.4100 and a close below the 365 would be nice.

Edit to add divergence too.

That 1.4000 looks great D. . . .I'll be watching . .
Indicators show the past. Price Action "Indicates" the future.
  • #92,040
  • Mar 22, 2011 5:05am Mar 22, 2011 5:05am
Quoting jarroo
That 1.4000 looks great D. . . .I'll be watching . .
Have very mixed feelings about this setup as is, so I'll be letting it go.
Who ever fills their tank up to $139.75 without going to the $140.?
Yes yes, people who want to buy a 25c box of matches

I'm so often wrong about these things, but it costs me nothing to not trade
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