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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

  • #92,381
  • Mar 28, 2011 12:19pm Mar 28, 2011 12:19pm
Quoting trader3000
we still have to wait a few hours...
Nice location..but imho the candle is too small compared to the previous 3 down bars, let see how it closes.

Os.
Trade Smart
  • #92,382
  • Mar 28, 2011 12:42pm Mar 28, 2011 12:42pm
Quoting Adilius07
Thanks!
At the BE waiting for my target to be hit.
Trying to stay more than first trouble area... well lets see.

can you please explain to me how you took the trade as ne person? thanks man
  • #92,383
  • Mar 28, 2011 12:47pm Mar 28, 2011 12:47pm
Quoting brighty3k
can you please explain to me how you took the trade as ne person? thanks man
Hi Brighty, can you please reformulate your question.
I don't understand what you ask me.
  • #92,384
  • Mar 28, 2011 1:17pm Mar 28, 2011 1:17pm
Quoting Atc
Tt rn 61.8 ftb

Price didn't retrace enough to hit entry..no chasing..on to the next
http://www.forexfactory.com/attachme...1&d=1300925957
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  • #92,385
  • Mar 28, 2011 1:27pm Mar 28, 2011 1:27pm
Quoting Atc
Price didn't retrace enough to hit entry..no chasing..on to the next
yes, good decision. better not to trade than to loose.
just be aware of the situation on e/u above:
price didn't make it to the support zone. this is a clear signal of strength. demand is already coming in before the ppz. i wouldn't be surprised if we see new highs soon.
meine augen sind die sterne
  • #92,386
  • Mar 28, 2011 1:49pm Mar 28, 2011 1:49pm
Hi All,

here are some charts for discussion. I am eager to trade but much more eager not to loose money. I figured recently, if I save the amount I have actually planed each month for trading and do it consistently I will be fine.
It is a great feeling that durring many years it is possible to build up a nice capital. Buffer did not get rich overnight. Why I am inpatient?

Charts:
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Kind Regards zol
  • #92,387
  • Mar 28, 2011 1:50pm Mar 28, 2011 1:50pm
Quoting soavesoave
Hello my Pip People!

New to the thread, and I have been in the forex for about 5 months now...

Here is my trade.
Hey Soavesoave

I don't see a chart can you repost?

And welcome to the thread

Mike
  • #92,388
  • Mar 28, 2011 1:57pm Mar 28, 2011 1:57pm
Quoting zoli
Hi All,

here are some charts for discussion. I am eager to trade but much more eager not to loose money. I figured recently, if I save the amount I have actually planed each month for trading and do it consistently I will be fine.
It is a great feeling that durring many years it is possible to build up a nice capital. Buffer did not get rich overnight. Why I am inpatient?

Charts:
Attachment

Attachment

Attachment

Attachment
Hey Zol

Here are my views

Eur/aud is an easy pass for me, super small bar(yes it is at a swing low ) but coming off very very strong bearish bars(much larger). Tough to pick the bottom here with such a tiny bar makes it tough to manage

my thoughts on gbp/usd on chart

Best
Mike
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  • #92,389
  • Mar 28, 2011 2:08pm Mar 28, 2011 2:08pm
Quoting mbqb11
Hey Zol

Here are my views

Eur/aud is an easy pass for me, super small bar(yes it is at a swing low ) but coming off very very strong bearish bars(much larger). Tough to pick the bottom here with such a tiny bar makes it tough to manage

my thoughts on gbp/usd on chart

Best
Mike
Thank you Mike. You are Ace.

Just for widening the interrest, here is Ford forall of you. I like it. Actually I like the company as the chart is not anything like perfect. Looks interresting though.

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Kind Regards zol
  • #92,390
  • Mar 28, 2011 2:33pm Mar 28, 2011 2:33pm
Quoting aserbfx
dest on weekly. be prepared for breakout. trigger is at about >23.40 usd.
daily volume is only about 80k shares. so use buy stop limit to avoid slippage.
very nice chart. i guess mike loves to see the boxes.
Its great seeing how Price is breaking through and closing above or below these boxes and finding new Support from old Resistance (and vice versa).

Great chart aserbfx . .

( I'm still playing catch up on the Thread)
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Indicators show the past. Price Action "Indicates" the future.
  • #92,391
  • Mar 28, 2011 2:58pm Mar 28, 2011 2:58pm
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  • #92,392
  • Mar 28, 2011 3:18pm Mar 28, 2011 3:18pm
Quoting jarroo
Its great seeing how Price is breaking through and closing above or below these boxes and finding new Support from old Resistance (and vice versa).

Great chart aserbfx . .

( I'm still playing catch up on the Thread)
Hi Jaroo,

I know it's probably a stupid question but how much set ups do you see on the chart which are worth a trade?
  • #92,393
  • Mar 28, 2011 3:37pm Mar 28, 2011 3:37pm
Quoting MCFly
Hi Jaroo,

I know it's probably a stupid question but how much set ups do you see on the chart which are worth a trade?

Do you mean currently? I probably see maybe 2 or 3 a week.

I mainly look for strong, clear levels of Support and/or Resistance which can be from a PPZ level, Consolidation level (top or bottom) and/or Swing point High or Low on the higher time frames.

Once I find the level I like, it needs to have an additional confluence be it from a trendline, fib level, emas, divergence, etc. with some good PA.

I liked this BEOB on the 4 hour Usd/Chf. Nice clear daily level , 150 ema confluence . .hit its target nicely. I will go down to lower time frames for a better entry once the above has been established.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,394
  • Mar 28, 2011 3:45pm Mar 28, 2011 3:45pm
Quoting mbqb11
Hey Zol

Here are my views

Eur/aud is an easy pass for me, super small bar(yes it is at a swing low ) but coming off very very strong bearish bars(much larger). Tough to pick the bottom here with such a tiny bar makes it tough to manage

my thoughts on gbp/usd on chart

Best
Mike
For what it's worth, price looks weak to me. We've taken out the swing lows which has hit the stop sell orders (and probably a bunch of limit buys too that may have been squeezed far enough to puke) and price rallied after that but its barely held the support into the close. If we do get a pop higher tomorrow that triggers that pin, I am pretty sure you will see offers coming back into the market around 1.6060 - 1.6095. That is certainly where I will look for shorts.
  • #92,395
  • Mar 28, 2011 3:55pm Mar 28, 2011 3:55pm
Quoting brighty3k
thank you man...i will go through them. thanks

Great . .go through them many times ..

Also, go through and study James16's and Mike's charts . . ALL . .OF . . .Them.

You will learn alot . .I still go through them often.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,396
  • Mar 28, 2011 4:02pm Mar 28, 2011 4:02pm
fib, ema365, PA.

TYJ
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The only constant is change
  • #92,397
  • Mar 28, 2011 4:09pm Mar 28, 2011 4:09pm
Quoting the_wizard
For what it's worth, price looks weak to me. We've taken out the swing lows which has hit the stop sell orders (and probably a bunch of limit buys too that may have been squeezed far enough to puke) and price rallied after that but its barely held the support into the close. If we do get a pop higher tomorrow that triggers that pin, I am pretty sure you will see offers coming back into the market around 1.6060 - 1.6095. That is certainly where I will look for shorts.
I like that 1.6050ish level(s) as well, wiz.

We got a close below the 1.6. A close below the 1.5980 would have been nicer or stronger. I view it as a strong Support level. There's that previous bar High of a BUOB playing its role again ..
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Indicators show the past. Price Action "Indicates" the future.
  • #92,398
  • Mar 28, 2011 4:22pm Mar 28, 2011 4:22pm
Quoting Adilius07
Well for H4 I like my Round Number for EURUSD to be in 100 pip intervals, that helps me to spot S/R and surrounding PPZ quickly. And I always pay attention if price could or could not close above/below it. Here on this Alpari chart I see Price is having trouble with 1.41. Also the best BUOB/BEOB is when it is also a Swing bar (so longer tail below those bar would have been better, imo). I would skip it mainly because it could not close above RN. I would not even try to look for other confluences that may be there like TL, Div etc. Close is not strong...

can you please teach me this analysis?
  • #92,399
  • Mar 28, 2011 4:59pm Mar 28, 2011 4:59pm
Quoting brighty3k
can you please teach me this analysis?
Hi and welcome Brighty.
I think what every one are trying to say to you is that you will have to learn the basics on your own starting with reading this thread from post No.1 and watch all videos for wich Jaroo allready gave you the link .
And read a book or two about tehnical analisis and put in some work your self in learning the basics . If you dont understand the basics about tehnical analisis or basic things what is price action trading is all about you can not expect that some one will just hold your hand and teach you from scratch if you are not wiling to put some work your self in learning the basics.

All the material you need you can finde it here in this thread .
If you dont understand the basic stuf about candels , suport resistance , price paterns you can go to http://www.babypips.com/school/ and read it from Pre-school to Graduation you will learn all the basics there and its allso free .

When you will understand the basics you will be able to ask questions about trade setups and things that you didnt understud quite well and others will be more than happy to help you with understanding price action trading and how to become more sucsesful .

If are just expecting that some one will hold your hand and teach you from scratch you are maybe in the wrong place .

Im sory no hard fealings...
  • #92,400
  • Mar 28, 2011 6:12pm Mar 28, 2011 6:12pm
Quoting the_wizard
For what it's worth, price looks weak to me. We've taken out the swing lows which has hit the stop sell orders (and probably a bunch of limit buys too that may have been squeezed far enough to puke) and price rallied after that but its barely held the support into the close. If we do get a pop higher tomorrow that triggers that pin, I am pretty sure you will see offers coming back into the market around 1.6060 - 1.6095. That is certainly where I will look for shorts.
I'm with ya bud, I avoid a market scenario like that always. Too much to go wrong more times then right for my style

Hope all is well
Mike
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