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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

  • #93,021
  • Edited 6:17pm Apr 5, 2011 6:05pm | Edited 6:17pm
Quoting james16
CHART
nice!
1000pips is not impossible, at current market condition.
i think the only questions now are 'when' & 'how'

Quoting six gun
That means ema is useless. Well I am on GMT so at least London will be working on the same time as me.
.
btw, London is currently GMT+1 (due to summer time/DST). right.
  • #93,022
  • Apr 5, 2011 8:33pm Apr 5, 2011 8:33pm
Quoting Donkey
Hi PB...hope you are settling in OK in China.

I agree with EURCHF. Here's is how I see it using Jarroo's HCR/LCS concept. I'll be watching the 1.3180-1.3200 very closely next week. Looks lIt is definitely a well-defined ppz. I really like how this pair respects the 150 ema as well. We wait for PA to tell us if price wants to stay in the current consolidation or break out to the upside.

Have a great weekend!
Still watching this one. Looking for a daily close above 1.3200 for bullish PA. If RN gets a nice test and rejection, I'll be looking for bearish PA.
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  • #93,023
  • Apr 6, 2011 12:45am Apr 6, 2011 12:45am
ericsson is in a sideways market since more than 4 years. yesterday was a strong day closing at the high. with a move over 83.00, the next target will be the highs of summer 2010 at about 90.00.
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meine augen sind die sterne
  • #93,024
  • Apr 6, 2011 3:05am Apr 6, 2011 3:05am
just a trade I am in on the usd/nok
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  • #93,025
  • Apr 6, 2011 3:10am Apr 6, 2011 3:10am
Quoting mbqb11
just a trade I am in on the usd/nok
Ahh nice!!!

But those, even that good looking onces freak me out, when I think of taking a breakout continuation BEOB at the swing low - that's it I'm paralized
  • #93,026
  • Apr 6, 2011 3:17am Apr 6, 2011 3:17am
Quoting mbqb11
just a trade I am in on the usd/nok
Nice one Mike! Did you put your stop above the beob or lower, above the 5.5400 multihigh at the beginning?
  • #93,027
  • Apr 6, 2011 3:30am Apr 6, 2011 3:30am
Hi everyone.

I am a complete and utter fresh fish newbie at all this stuff but have been reading a fair amount on this thread and trying to get my head around everything.

Excuse me if these are really stupid questions but when I'm looking at the charts which are often daily charts I am seeing, for instance, a double high then a low and then a sell.

My questions are:

When you see this and trade on it, I guess it's the million dollar question of when to get in and when to get out but roughly how many pips are you trying for in general?

How long do your individual trades last? As these are daily charts are the trades lasting over mahy days?

I look forward to the responses but please go easy on my lack of understanding.
  • #93,028
  • Apr 6, 2011 3:34am Apr 6, 2011 3:34am
Quoting james16
CHART
This was a great trade this morning for a blind touch short at 139.39.

The bar traders even got a BEOB in the last hour.

First target 137.80
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  • #93,029
  • Apr 6, 2011 3:46am Apr 6, 2011 3:46am
Quoting mbqb11
just a trade I am in on the usd/nok
Hi Mike your NOK trade.
I am guessing the important issues in the trade were the down trend and that price was consolidating into a wedge.
Price broke down through the lower line.
I guess a lot of people might well have entered there.
Then price came back and quite a way in pip terms.
This would have scared plenty of people and they might well have bottled out, closing out or getting a stop loss hit.
Price returns to the lower level and goes through.
The wedge kicks it out again and the BEOB is formed.
Your trade becomes very solid at that point.

You are with the trend.
You broke through the BRN and closed under it.
The large BEOB.

I am guessing you entered on the pull back to confirm the lower level of the wedge had become resistance.
Did you enter before or after the BEOB was complete.
This is the bar that would have freaked plenty I suspect.

When people look at the trends and charts, especially the longer time frames their eyes tend to filter out the long wicks that went against them, the bars that were against them. Then when you are in the trade you see a big draw down and you start to wonder/worry if you have got it wrong. This is the tricky part. It is like the market puts these into the game to flush out the faint hearted.
  • #93,030
  • Apr 6, 2011 6:00am Apr 6, 2011 6:00am
Quoting plund
Thanks for your comments. You're right about fta. I'm still going to take it, just need to be aware of fta and manage it accordingly.

pat
Nice one Pat.

Very slight reaction at FTA, but carried on down.

No respect shown for the $ at the moment
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  • #93,031
  • Apr 6, 2011 6:17am Apr 6, 2011 6:17am
Is this going to be huge BEOB?
Maybe too huge to take if can not stop falling?
How to play setup like this?
I know long way till it close, but sticked my eyes so much!!!!
Thanks guys,
Mónika
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  • #93,032
  • Apr 6, 2011 6:50am Apr 6, 2011 6:50am
just broke out...
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meine augen sind die sterne
  • #93,033
  • Apr 6, 2011 7:45am Apr 6, 2011 7:45am
anyone considering this h4 beob on g/u?
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meine augen sind die sterne
  • #93,034
  • Apr 6, 2011 7:52am Apr 6, 2011 7:52am
Quoting Panthera
Is this going to be huge BEOB?
Maybe too huge to take if can not stop falling?
How to play setup like this?
I know long way till it close, but sticked my eyes so much!!!!
Thanks guys,
Mónika

Hi M,

The hourly PB may give us a clue but we'll have to wait. I'm long with a BE stop.
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  • #93,035
  • Apr 6, 2011 7:53am Apr 6, 2011 7:53am
Quoting aserbfx
btw all i can see is that bemac icce stuff rules....

g/n is coming into a ppz now. if it runs through the 2.13, we will see 2.15 next.
the ppz at 2.12 was to strong. now the low at 2.09 will be a good place to look for price action.
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meine augen sind die sterne
  • #93,036
  • Apr 6, 2011 7:54am Apr 6, 2011 7:54am
Quoting aserbfx
anyone considering this h4 beob on g/u?
I am sitting tight with my USD/JPY long.
Your chart does paint a bearish picture.

The USD is right now appreciating against the EUR and GBP so a USD/JPY cross will go up faster than the other crosses.
  • #93,037
  • Apr 6, 2011 7:59am Apr 6, 2011 7:59am
Quoting aserbfx
anyone considering this h4 beob on g/u?
Ive got 1.62500 as a weekly ppz
Trade Smart
  • #93,038
  • Apr 6, 2011 8:02am Apr 6, 2011 8:02am
Quoting aserbfx
anyone considering this h4 beob on g/u?
I think this is awesome H8 BEOB (h4 too obviously)
My sell order is 1.6260
  • #93,039
  • Apr 6, 2011 8:05am Apr 6, 2011 8:05am
This one is taunting me but I am concerned with the big down bar and the BRN in the way. Probably pass
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  • #93,040
  • Apr 6, 2011 8:05am Apr 6, 2011 8:05am
Quoting aserbfx
anyone considering this h4 beob on g/u?
relatively big in size.
Quoting Osman
Ive got 1.62500 as a weekly ppz
yeah. looking at H4 - weekly.. wow, choppy chart.
so price may stall anywhere after that BEOB breaks

Quoting Tap-in
This one is taunting me but I am concerned with the big down bar and the BRN in the way. Probably pass
valid concerns there, Sir
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