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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

  • #93,441
  • Apr 11, 2011 5:27pm Apr 11, 2011 5:27pm
Quoting jarroo
Hey Pb . .. sorry for the short answer.

You could have used the Weekly HCR on the Daily as well. I should have pointed out how the Daily HCR turned into a Daily PPZ level and the Weekly HCR stayed intact.

The point being was that Adilius' 4 Hour BEOB was sitting on a PPZ level that was to act as Support and more importantly, the Close of the 4 Hour BEOB was above a strong Weekly HCR . .instead of below it.

The 4 Hour BEOB's Close being above the Daily PPZ level instead of below it, should have been enough to raise a red flag that...
A bearish PA bellow and rejected by 1.6270 would be nicer.
Nothing personal,just business
  • #93,442
  • Apr 11, 2011 5:29pm Apr 11, 2011 5:29pm
Quoting fxgroup
A bearish PA bellow and rejected by 1.6270 would be nicer.
That would qualify as well . . . . . .well said, fxg.
Indicators show the past. Price Action "Indicates" the future.
  • #93,443
  • Apr 11, 2011 5:39pm Apr 11, 2011 5:39pm
Quoting jarroo
That would qualify as well . . . . . .well said, fxg.
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Nothing personal,just business
  • #93,444
  • Apr 11, 2011 5:48pm Apr 11, 2011 5:48pm
Quoting fxgroup
Indicators show the past. Price Action "Indicates" the future.
  • #93,445
  • Apr 11, 2011 6:43pm Apr 11, 2011 6:43pm
Has the type of momentum we like to see ....no ?

edit /....just heard news another earthquake hits Japan...those poor people
  • #93,446
  • Apr 11, 2011 6:48pm Apr 11, 2011 6:48pm
Anyone considering going long on EUR/GBP after the doji candle on the daily close??
How bad do you want it? That's the attitude!
  • #93,447
  • Apr 11, 2011 6:58pm Apr 11, 2011 6:58pm
Quoting Atc
Has the type of momentum we like to see ....no ?

edit /....just heard news another earthquake hits Japan...those poor people
just unbelievable , so sad
  • #93,448
  • Apr 11, 2011 8:39pm Apr 11, 2011 8:39pm
Quoting menomoo
Hi all . Comments welcome. Just Practicing few lines on Hourly.

Patience is the KEY!!!

Knowledge is your ammo,

PA is your trigger )

Cheers

V

Hey V . .could you update your chart and post it? . . . .
Indicators show the past. Price Action "Indicates" the future.
  • #93,449
  • Apr 11, 2011 10:01pm Apr 11, 2011 10:01pm
Quoting jarroo
Hey Pb . .. sorry for the short answer.

You could have used the Weekly HCR on the Daily as well. I should have pointed out how the Daily HCR turned into a Daily PPZ level and the Weekly HCR stayed intact.

The point being was that Adilius' 4 Hour BEOB was sitting on a PPZ level that was to act as Support and more importantly, the Close of the 4 Hour BEOB was above a strong Weekly HCR...
Thanks Jim

Great explanation that even I can understand.

I shall keep these charts and view them daily.

Just looking at GU with the base system, looks like we may have a nice H4 base system setup with the FTB to the 50 EMA.
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  • #93,450
  • Apr 11, 2011 10:01pm Apr 11, 2011 10:01pm
Quoting jarroo
Hey V

Your chart looks perfect . .I wouldn't change a thinge . .

All the credit goes to you my friend
  • #93,451
  • Apr 11, 2011 10:13pm Apr 11, 2011 10:13pm
Quoting jarroo
Hey V . .could you update your chart and post it? . . . .
On Jaroo's request please find the update for AUD USD ))

Proudly sponsored by Jaroo

Jim , I did not take this trade neither on a small account or demo. But I was confident this would be the outcome ..

Thanks for all the help and teaching and I am on my journey to perfect it ))

Cheers V
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  • #93,452
  • Apr 11, 2011 10:18pm Apr 11, 2011 10:18pm
I would bring the stop loss to the top of this very last bar .

Comments ?

Cheers

V
  • #93,453
  • Apr 11, 2011 11:24pm Apr 11, 2011 11:24pm
Quoting menomoo
I would bring the stop loss to the top of this very last bar .
Comments ?...
Hello V,
it really depends on your trading style, trade management, & price expectations.
so, u can manage it in many ways.. there is no specific answer to this 'question' (& u are in the best position to answer this/manage the trade)

nothing wrong with putting the SL on that area (or taking profit within the last 10-50 minutes), IMHO.
  • #93,454
  • Apr 12, 2011 1:05am Apr 12, 2011 1:05am
Quoting Pinbar
Not sure what the 1.51100 you mentioned has to do with the current situation. The 1.52000 is the resistance area this bar came off and the close is below the 1.5000.
As Mike pointed out, the FTA is close but, it has about 70 pips of space.
This is not a bar, I would sit and watch it move 50 pips and leave my SL above the bar. This is where J16s WIPG comes in.
Hope this helps

The GBP/CHF PB I pointed out hit its FTA.

Just trying to work this out with Jarroo's thing.
Hopefully he will correct my mistakes on this as I want to get this down.
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  • #93,455
  • Apr 12, 2011 1:12am Apr 12, 2011 1:12am
Morning all,
AU reached the previous high, 1.4000 and 61,8% Fibbo retrace. Looks good but I'm not taking a long now as the fall down was quite fast to me. Will wait little more.
Btw. still in my yesterday USDCHF short trade targeting 0,9010, SL currently at +20.
Nice day to all.
J.
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  • #93,456
  • Apr 12, 2011 1:45am Apr 12, 2011 1:45am
Quoting Dan Gilbert
Here we go. Up to my standards at least....
So far, so good.

Moved my stop down a lil bit, above yesterday's high.

Just monitoring it lightly now....

Sorry for using the crappy IBFX feed for my daily chart here, but I place my trades on IBFX .... deal with it.
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Many choose unhappiness over uncertainty.
  • #93,457
  • Apr 12, 2011 2:06am Apr 12, 2011 2:06am
Quoting supremeChaos
Hello V,
it really depends on your trading style, trade management, & price expectations.
so, u can manage it in many ways.. there is no specific answer to this 'question' (& u are in the best position to answer this/manage the trade)

nothing wrong with putting the SL on that area (or taking profit within the last 10-50 minutes), IMHO.

Shurrah,

I actually thought to go down to 15 min chart and wait for the Pa and that confirmation would have come about when pin looking bar high breaks.That is equavelent to 25 pips thats alot though if you go one TF down ,5 min chart ,you see a approx 17 pip long OUTSIDE BAR ( BUOB) now that s gonna save me another 8 pip so I think that would be something to consider in first trouble areas ...IMHO


I also would like to point out that I experimented with a small change on MA , and hence come up with values of 360 and 180 . These values seem tobe more effective in small TFs as one is half of the other and the other is 1/4 th of 1440 min we have in a day. Therefore 180 moving average is 1/8th moving average in 15 min time frame ...

It is something i observed recently not something I wana be different to 95% as some seniors point out from time to time ...

Cheers V
  • #93,458
  • Apr 12, 2011 2:16am Apr 12, 2011 2:16am
Quoting Dan Gilbert
So far, so good.
Moved my stop down a lil bit, above yesterday's high....
Sorry for using the crappy IBFX feed for my daily chart here, but I place my trades on IBFX .... deal with it.
crappy because of the Sunday bar?
we can deal with it.
  • #93,459
  • Apr 12, 2011 3:10am Apr 12, 2011 3:10am
Hi folks I took this trade last night, what are your thoughts?...I think I should have got out nearer the target, but I couldnt sleep (not due to trading lol its demo) and when I noticed It was going my way I thought play safe and close it.

Am I looking at this in a good or wrong way?

I'm not sure if its a pinbar...I was thinking of it as a BEOVB...

Thanks again hope it doesn't sound gushing but i'll keep saying it anyway great forum and community thankyou so much everyone. I'm on post 81 of this thread so far lol...

Atemi
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  • #93,460
  • Apr 12, 2011 3:17am Apr 12, 2011 3:17am
Quoting Pumlitch
Morning guys,
Just found out my sell limit on UC has not been triggered yet. Price seems to have a lazy Monday.
J.
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Trade closed with + 73pips.
Jarda
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