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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

  • #93,081
  • Apr 6, 2011 2:41pm Apr 6, 2011 2:41pm
Quoting aserbfx
ammd on weekly.
price formed a shs-pattern before. this never got triggered.
now it made a pinbar. i would a long-entry above ~21.15 usd. with a stop below the low the ppz (< 20.00 usd). first trouble is the recent high at 22.50 usd. later the year-high at 24.00 usd comes into play.
comments appreciated....
this setup was posted on 29. march.
ammd on weekly. did exactly as posted. pinbar broke and the stoch went directly to the 22.50. from there it retraced.
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meine augen sind die sterne
  • #93,082
  • Apr 6, 2011 3:10pm Apr 6, 2011 3:10pm
Hello good people,

I have been of business and will be for 3 weeks from Friday on (Vietnam, eating dogs, rats and fish) and I would like to consult about managin my open trades. I can get access through VPS actually but will do maybe 2-3 tames and that is it. I do not see reasons from price perspective to exit just now atm.

Also some notes on JPY...

charts:
Long on EU. I see no reason to exit atm.
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Long EJ. It exploded to north like crazy. Did not even notive my suspected resistence zone. I have a TP at another level I percieve as potentially important. but I may remove the TP all together.
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I want to long the pair and be long term long on it.
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Kind Regards zol
  • #93,083
  • Apr 6, 2011 3:42pm Apr 6, 2011 3:42pm
Mike or anyone any thoughts ....I'm watching this one ....2 day PB closeing above BRN

Possible break long?
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  • #93,084
  • Apr 6, 2011 3:52pm Apr 6, 2011 3:52pm
It could definitely break those bar highs and take off.

BUT

This is definitely not one I would play though. You can clearly see you are in a sideways market. You are almost in the middle of a weird box. The top of that box will most likely be a major trouble area.

Mike usually preaches to trade away from these boxes. Not in the middle.

These are just my opinions but I think you need to ask yourself, is this an A+ trade? And if not, why are you taking it?


Quoting Atc
Mike or anyone any thoughts ....I'm watching this one ....2 day PB closeing above BRN

Possible break long?
  • #93,085
  • Apr 6, 2011 4:00pm Apr 6, 2011 4:00pm
Quoting dmc
It could definitely break those bar highs and take off.

BUT

This is definitely not one I would play though. You can clearly see you are in a sideways market. You are almost in the middle of a weird box. The top of that box will most likely be a major trouble area.

Mike usually preaches to trade away from these boxes. Not in the middle.

These are just my opinions but I think you need to ask yourself, is this an A+ trade? And if not, why are you taking it?
Also looks like a flag pattern...but you are correct not a A+ in my book either....would have to be closely monitored IMO
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  • #93,086
  • Apr 6, 2011 4:01pm Apr 6, 2011 4:01pm
Quoting james16
Hey big dan. Here is one for ya.
good stuff! I have had no positions for over 2 weeks now...
Many choose unhappiness over uncertainty.
  • #93,087
  • Apr 6, 2011 4:50pm Apr 6, 2011 4:50pm
lets see, how this one develops....
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  • #93,088
  • Apr 6, 2011 5:00pm Apr 6, 2011 5:00pm
http://www.forexfactory.com/attachme...1&d=1302044153



CHART

Quoting james16
CHART
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  • #93,089
  • Apr 6, 2011 7:11pm Apr 6, 2011 7:11pm
Quoting jarroo
Hey Be Cool.

Looks like your target was hit dead on . .nice . .
It would have been a tough one for me to take. .to crowded. But it sure shows that if Price is going to cut through all that traffic, PA will make it happen . . . and that strong 1.3700 PPZ level (location) was sure part of it too.

What I meant by Price respecting those levels was that Price would react to them if Price got there, more so as Support as they did the day or so prior. (indicated in yellow)

Now it the Daily or Weekly bar closed below the 1.3700, I could...
Thanks for explaining, Jim
But i didn't take it - FTA was very near like you said. To be truth, i haven't taken any trade in weeks. I'm still kinda confused- once i found a tradeable setup at strong PPZ/SuppRes/Weekly HCR/LCS, often i found that there are many other levels nearby (Daily HCR/LCS, Weekly HCR/LCS ) at swing highs/lows -i feel like there is very little room left to trade
I'm a slow learner, Jim - I hope you won't mind helping me to understand.
Thank you
  • #93,090
  • Apr 6, 2011 7:22pm Apr 6, 2011 7:22pm
Quoting dmc
It could definitely break those bar highs and take off.

BUT

This is definitely not one I would play though. You can clearly see you are in a sideways market. You are almost in the middle of a weird box. The top of that box will most likely be a major trouble area.

Mike usually preaches to trade away from these boxes. Not in the middle.

These are just my opinions but I think you need to ask yourself, is this an A+ trade? And if not, why are you taking it?
Thanks Dave, I am with you on this one. It's tempting mostly because of the parity level, but the variance without more confluence is going to be higher with these I have learned over the years. This is a pass for me since we are sideways and then stuck in a larger flag type channel as well

Best
Mike
  • #93,091
  • Apr 6, 2011 8:04pm Apr 6, 2011 8:04pm
Quoting supremeChaos
looking at your chart..
if 1.4800 - 1.4870 area holds as support (see the horizontal line in your chart @1.4876 acting as a nice PPZ), i think it's almost ripe for a move towards 1.54 - 1.56 area.

along the way, potential trouble spots are
1.50 (not given a lot of respect as seen on the chart, as price zigzags through it)
& 1.51 - 1.52 area.
Nice call on the 1.500 SC. Now I'm watcing 1.5160 area. Would like to see price and the 150 ema get there at about the same time.
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  • #93,092
  • Apr 6, 2011 8:38pm Apr 6, 2011 8:38pm
Quoting ghous
This just made my day.

this really made my day. . .

Good strong BEOB, Swing high, still a pass as it isn't 100%, doesn't get any better than this A,

Given that you're relatively new to the method and still nailing down your ppzs and refraining from lunging onto anything that jumps out... hats off Sir!

you're going to go a looong way man!

Keep at it.



g.
Wow ..thanks a lot man for your compliments..
now that gives confidence...
i attribue you & J16 seniors for helping me thru all my stupid and good posts..

Infinity Pips for u
  • #93,093
  • Apr 6, 2011 8:41pm Apr 6, 2011 8:41pm
Quoting Dan Gilbert
good stuff! I have had no positions for over 2 weeks now...
I'm in the same boat. Ahhh the life of a daily bar trader .
  • #93,094
  • Apr 6, 2011 8:43pm Apr 6, 2011 8:43pm
Quoting mbqb11
Thanks Dave, I am with you on this one. It's tempting mostly because of the parity level, but the variance without more confluence is going to be higher with these I have learned over the years. This is a pass for me since we are sideways and then stuck in a larger flag type channel as well

Best
Mike
Good news helps...I guess...what came first the TA or the news?
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  • #93,095
  • Apr 6, 2011 9:05pm Apr 6, 2011 9:05pm
I get that alot with FXPRO

Press the refresh button

Quote
If that doesn't work

Press F2 to open the History Centre.
Double click the symbol that's missing info.
Double click the TF you'd like to fix.
Press download
Close History Centre
Right click the chart
Press refresh


I spend most of every day doing this. Still haven't gotten round to reinstalling the platform

It is alot better since I dumped all my indi's though


Thanks mate... I'll look into that...
I'm trying to avoid the 4hr charts from now on...
How bad do you want it? That's the attitude!
  • #93,096
  • Apr 6, 2011 11:17pm Apr 6, 2011 11:17pm
Quoting Osman
Hi Pippirate,

IMHO, this wont be a breakout.. i would need 3 or more bars stopping at that price level and on the daily we only have a bullish candle.

I would wait for a retracement to the 1.43 and it price holds and we have PA take the trade.

Hope this helps.

Os.
Thank you Os,

So in order for it to be a breakout there would have to be 3 or more consecutive bars in a row at that price level? Or 3 continuous pullbacks at the price level?

Thank you for your thoughts Osman, I'm looking to develop a keen understanding of James16's mindset.
  • #93,097
  • Apr 6, 2011 11:48pm Apr 6, 2011 11:48pm
Quoting mbqb11
..Man this made me smile so big and I am on 2 hours of sleep!
haha.. interesting, me too, yesterday

Quoting Dan Gilbert
good stuff! I have had no positions for over 2 weeks now...
Quoting spookie94
I'm in the same boat. Ahhh the life of a daily bar trader .
u two are commendable. tons of patience!

Quoting ghous
This just made my day.
...
Good strong BEOB, Swing high, still a pass as it isn't 100%, doesn't get any better than this A,...
hey, it hit the FTA. 1.6250

Quoting Donkey
..Now I'm watcing 1.5160 area. Would like to see price and the 150 ema get there at about the same time.
i guess price will reach it first

Quoting zoli
Hello good people,
... I do not see reasons from price perspective to exit just now atm.
...
why do u say u got no experience?
i think u are doing extremely well with these trades.
u have tons of patience & discipline, unlike me
Quoting Atc
Mike or anyone any thoughts ....I'm watching this one ....2 day PB closeing above BRN
Possible break long?
too late now, but i was gonna say 'long'.
Quoting Atc
Good news helps...I guess...what came first the TA or the news?
both.
fundamentals are AUD-positive; TA has been bullish



i'll end with a
  • #93,098
  • Apr 7, 2011 1:27am Apr 7, 2011 1:27am
Quoting james16
http://www.forexfactory.com/attachme...1&d=1302044153



CHART
Hi

I think it could be a similar gameplan on EURJPY. The rest of the JPY pairs are also good looking.
I hope I see it right.

Charts:
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Kind Regards zol
  • #93,099
  • Apr 7, 2011 1:37am Apr 7, 2011 1:37am
Quoting supremeChaos
why do u say u got no experience?
i think u are doing extremely well with these trades.
u have tons of patience & discipline, unlike me
Hi sC,

thank you for your compliment friend. However; please never underestimate the power of the Dark Side (in me). You have not seen my previous trades and worse, my trade management. There is a nive and long way for me to be a trader with reliable results.
Kind Regards zol
  • #93,100
  • Apr 7, 2011 1:48am Apr 7, 2011 1:48am
The question of questions.........

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Kind Regards zol
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