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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

  • #94,481
  • Apr 27, 2011 8:29am Apr 27, 2011 8:29am
Quoting ghous
. . .

I don't think I could get it right either . . .I've always liked g.
Indicators show the past. Price Action "Indicates" the future.
  • #94,482
  • Apr 27, 2011 8:29am Apr 27, 2011 8:29am
Quoting g_j_hook@yah
hi Mike, can you elaborate a little on this? is it that you would like to see a more sustainable rise??
thanx in advance

jon
Hey Jon

To me the descending trendline is very very steep making it tough to trade for me.

Actually you said that I don't care about how exact a trendline is which is actually the complete opposite so I was surprised to see you say that. Aud/nzd for me I can "see" a pattern, but to me its flimsy on where to draw the line.

Hope that helps
Mike
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  • #94,483
  • Apr 27, 2011 8:34am Apr 27, 2011 8:34am
Quoting slade1986
Nice looking bar, Just don't like the space to the FTA.

Any comments?
MY FTA would be little bit closer.

Sorry for the bad quality i have bad connection at the moment :-(
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  • #94,484
  • Apr 27, 2011 8:40am Apr 27, 2011 8:40am
Quoting aserbfx
already long in acc since 34.04 usd. now at 34.12 usd.
acc on good news with a brutal upmove. currently floating at 35.40 usd. i took half position off at 35.56 usd. stop for the other half at break even.
+4.46% in 2 days.
i luv it
meine augen sind die sterne
  • #94,485
  • Apr 27, 2011 8:43am Apr 27, 2011 8:43am
Quoting aserbfx
acc on good news with a brutal upmove. currently floating at 35.40 usd. i took half position off at 35.56 usd. stop for the other half at break even.
+4.46% in 2 days.
i luv it
lol,scheint so als obs dir zur Zeit sehr gut geht Kollege !

seems like your doin great these days !

keep on ! Immer weiter !

Kindest Grüße

Jonas
Hero calls followed by margin calls...
  • #94,486
  • Apr 27, 2011 8:47am Apr 27, 2011 8:47am
Quoting PhAnTi'
lol,scheint so als obs dir zur Zeit sehr gut geht Kollege !

seems like your doin great these days !

keep on ! Immer weiter !

Kindest Grüße

Jonas
yes, the market offers a lot of good setups at the moment.
thanks and good trades for you, too.
meine augen sind die sterne
  • #94,487
  • Apr 27, 2011 10:26am Apr 27, 2011 10:26am
I'm very new but the audusd looks like it might be setting up a nice pinbar at the end of the day. Any comments/thoughts appreciated, thanks.
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Gregg Sniper in training
  • #94,488
  • Apr 27, 2011 10:30am Apr 27, 2011 10:30am
Theoretically no, but in practise could i consider it like a TBLHC?

thank you
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The only constant is change
  • #94,489
  • Apr 27, 2011 10:49am Apr 27, 2011 10:49am
Quoting Gregg
I'm very new but the audusd looks like it might be setting up a nice pinbar at the end of the day. Any comments/thoughts appreciated, thanks.
Hey Gregg

Welcome, I put some comments on a chart for you hope it helps

Best
Mike
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  • #94,490
  • Apr 27, 2011 10:50am Apr 27, 2011 10:50am
Quoting littspaniard
Theoretically no, but in practise could i consider it like a TBLHC?

thank you
Hey Littspaniard

For it to be a TLHC, the close must close above the previous bars high.

Let me know if you have more questions
Mike
  • #94,491
  • Apr 27, 2011 10:59am Apr 27, 2011 10:59am
Quoting mbqb11
Hey Gregg

Welcome, I put some comments on a chart for you hope it helps

Best
Mike
Thanks Mike - your help and notes are greatly appreciated.
Gregg
Gregg Sniper in training
  • #94,492
  • Apr 27, 2011 12:27pm Apr 27, 2011 12:27pm
Quoting mbqb11
Hey Gregg

Welcome, I put some comments on a chart for you hope it helps

Best
Mike
Does the FTA signify the first Support/Resistance area?
  • #94,493
  • Apr 27, 2011 12:32pm Apr 27, 2011 12:32pm
Hi Guys!

I know it is not a swing low but a huge BUOB and BRN.
The MA would be nicer to go under it and not crossig it.
I am sure it is not A+....
Any comment.
Mónika
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  • #94,494
  • Apr 27, 2011 12:34pm Apr 27, 2011 12:34pm
Quoting yomex_y2
Does the FTA signify the first Support/Resistance area?
Yomex - I'm new here but my understanding is that FTA stands for 'First Trouble Area' so in this case Mike was pointing out where the first support lies and it is very close to the potential pinbar.
Gregg
Gregg Sniper in training
  • #94,495
  • Apr 27, 2011 1:07pm Apr 27, 2011 1:07pm
Hi All,

I thought I drop in this chart as my first post vacation post.

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EDIT: It is interesting that the other JPY pairs look rather bullish. In the recent days the USDJPY did quite the opposite than the rest which is interresting. Anyone has some comments on this?
Kind Regards zol
  • #94,496
  • Apr 27, 2011 1:18pm Apr 27, 2011 1:18pm
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Kind Regards zol
  • #94,497
  • Apr 27, 2011 2:14pm Apr 27, 2011 2:14pm
Quoting soavesoave
Hey Jon, sorry if this seems obvious but it is not to me, it's a newbie thing, you mean at the 120 level you would go short and place the stop above the 50% fibo?? Or vice versa going long?

Soave
yeah sorry, i meant for a long with the stop below 120

jon
PATIENCE... DISCIPLINE
  • #94,498
  • Apr 27, 2011 2:16pm Apr 27, 2011 2:16pm
Quoting Gregg
Yomex - I'm new here but my understanding is that FTA stands for 'First Trouble Area' so in this case Mike was pointing out where the first support lies and it is very close to the potential pinbar.
Gregg
Yep You got it Gregg thank you

FTA can be the real first thing that can hold up a trade. Sometimes it is a minor flip of S/R(a minor PPZ) sometimes a few bar highs/lows, a RN, a confluence area etc. These areas help us greatly in managing our trades and understanding better what trade entries are worth taking

Best
Mike
  • #94,499
  • Apr 27, 2011 2:25pm Apr 27, 2011 2:25pm
Quoting mbqb11
Hey Jon

To me the descending trendline is very very steep making it tough to trade for me.

Actually you said that I don't care about how exact a trendline is which is actually the complete opposite so I was surprised to see you say that. Aud/nzd for me I can "see" a pattern, but to me its flimsy on where to draw the line.

Hope that helps
Mike
hi Mike,
sorry about that, i really didnt know how you use TLs in your trading but i was judging from the charts i have seen you post. sometimes they looked to just show the pattern or TL without connecting any specific H/Ls. my bad. i actually thought you didnt draw them in on your trading charts as with your experience i thought you just traded the bars etc being fully aware of any patterns or TLs. hope i didnt cause too much confusion.

i understand now about what you said about the flag pattern, lol, i thought you were referring to the steep rise leading to the consolidation. cheers for clearing that up.

jon
PATIENCE... DISCIPLINE
  • #94,500
  • Apr 27, 2011 2:29pm Apr 27, 2011 2:29pm
Quoting g_j_hook@yah
hi Mike,
sorry about that, i really didnt know how you use TLs in your trading but i was judging from the charts i have seen you post. sometimes they looked to just show the pattern or TL without connecting any specific H/Ls. my bad. i actually thought you didnt draw them in on your trading charts as with your experience i thought you just traded the bars etc being fully aware of any patterns or TLs. hope i didnt cause too much confusion.

i understand now about what you said about the flag pattern, lol, i thought you were referring to the steep...
No worries Jon

Here was an example of a flag pattern that to me was tradeable and I took today based on breakout and pullback.

Clear up trend, clear flag panel with obvious TL, clear PA, BRN
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