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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

  • #96,241
  • Jun 9, 2011 9:26am Jun 9, 2011 9:26am
Quoting Activer
Hi , I spend sometime to learn this method, and begin to Demo trading

I mark some PA in the following chart , does it right or wrong? thanks .

Attachment
Hey Activer

Welcome to the thread

Yep you correctly marked bars we use. I just labeled them for you

Again welcome
Mike
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  • #96,242
  • Jun 9, 2011 9:27am Jun 9, 2011 9:27am
Quoting Adilius07
Yeah this one was really easy!

My congratulations to EURCAD short sellers as well !

Together we are gonna make it happen!

Good job guys, I liked this one since it had such a clear trouble area as you all properly saw
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  • #96,243
  • Jun 9, 2011 9:27am Jun 9, 2011 9:27am
Quoting Patrick.
Yes Av, I am in EURCAD and its going well.
u called Av to Adi
btw,i was short on EURGBP
  • #96,244
  • Jun 9, 2011 9:30am Jun 9, 2011 9:30am
So it seems that euro has taken the tumble due to ECB keeping key interest rate unchanged during the month. However, it intends to provoke inflation with this move, due to deflationary pressures from the Greek debt solvency issue, and increase the key rate in July. Depending on how well the euro zone's economy is contained this month, IMO the trend of the Euro should be smoothly downward this month until next months IR change is implemented.

To put some technicals on this, we can see a BEOB for the months of April and May for pairs like EURUSD, EURGBP, and possibly others that I haven't checked. Congrats to all the Euro short sellers indeed (including myself)...

Happy trading..

-HW
  • #96,245
  • Jun 9, 2011 9:44am Jun 9, 2011 9:44am
Quoting mbqb11
Hey Activer

Welcome to the thread

Yep you correctly marked bars we use. I just labeled them for you

Again welcome
Mike
thank you Mike ! I will keep going to learn this great thread.
Try to understand English Try to understand Forex
  • #96,246
  • Jun 9, 2011 9:45am Jun 9, 2011 9:45am
Quoting Adilius07
Yeah this one was really easy!

My congratulations to EURCAD short sellers as well !

Together we are gonna make it happen!
nice one Adi...maybe your bad streak is coming to an end..

i also played it the same.

lets not forget the eu/nz though....a nice strong bar with a bit of space till the FTA, with the trend and pretty clear areas to watch. (check weekly)
a nice set up i thought...


jon
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PATIENCE... DISCIPLINE
  • #96,247
  • Jun 9, 2011 9:51am Jun 9, 2011 9:51am
Mike did you trade the EUGB BEOB on the daily? J16 magic as it was almost pip perfect on the low.
  • #96,248
  • Jun 9, 2011 9:55am Jun 9, 2011 9:55am
Quoting Chelski
Mike did you trade the EUGB BEOB on the daily? J16 magic as it was almost pip perfect on the low.
Hey C

Yep I am still in this with a reduced stop (when we hit FTA). The euro pairs are pretty heavy so I am holding to see if we can get another push lower(only cause every euro pair looks like that too).

I liked this one as I said cause the FTA was clear as day almost no where else for price to go and we had the 8600 for trade mgmt

Best
Mike
  • #96,249
  • Jun 9, 2011 10:07am Jun 9, 2011 10:07am
Quoting mbqb11
Hey C

Yep I am still in this with a reduced stop (when we hit FTA). The euro pairs are pretty heavy so I am holding to see if we can get another push lower(only cause every euro pair looks like that too).

I liked this one as I said cause the FTA was clear as day almost no where else for price to go and we had the 8600 for trade mgmt

Best
Mike
Yeah Yeah agreed..the strong co-relation on EURO pairs shuld give us a strong move down..
btw js watching EURAUD..CB the yellow PPZ would be great!!
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  • #96,250
  • Jun 9, 2011 10:31am Jun 9, 2011 10:31am
Quoting g_j_hook@yah
ghous.....i can see you .....

lol

jon
I'll be back soon.

promise.

lol

g.
I believe . . .
  • #96,251
  • Jun 9, 2011 10:55am Jun 9, 2011 10:55am
NZD/usd looks like broke up succesfuly for now
so I reduce the risk by 20%
in the meantime decided to buy eur/usd at the wekly PPZ and RN,

Peter
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Jesus Christ is my only Lord !
  • #96,252
  • Jun 9, 2011 12:06pm Jun 9, 2011 12:06pm
Quoting AvanishDemo
Few more pips to go...
not sure how long it will go so taking full profit at 0.8850..
volume was 0.20(entry at retrace to get palatable R:R)

Great one AD . .


Sorry I need to catch up on this fast moving thread . .

Eur/Gbp Daily BEOB . Swing High and Nice size. Targets previous bars Highs and Lows (in blue). . .targets hits nicely . .

James16 Classic


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #96,253
  • Jun 9, 2011 12:24pm Jun 9, 2011 12:24pm
Quoting Pinbar
I had been watching the battle stage of the Monthly BEOB vs the Weekly Bullish PB since Sunday.

it was very interesting to see the low of the previous bar to the monthly BEOB get tested and watch the reaction today on the daily chart.

Just goes to show that we have to pay attention to what is happening on the higher TF stage.


Brings back fond memories of that Jarroo chap! LOL


Hope he is ok and taking time out to enjoy himself.
Doing fine Pb but have been pretty busy . .

Great example of why we look at the Higher TFs for more infomation about a PA setup we would like to trade . .is it conflicting or agreeing with the PA presented. . .

Big Monthly BEOB or relatively small bullish PB on the Weekly .. Higher TF PA usually wins this battle ..


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #96,254
  • Jun 9, 2011 12:42pm Jun 9, 2011 12:42pm
Quoting james16
chart

Very nice Jim . . . . .


Looks like it hit its target too . .previous bar Low . .drawn down looks to be about 5 pips . .nice . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #96,255
  • Jun 9, 2011 12:49pm Jun 9, 2011 12:49pm
Quoting hipcio
NZD/usd looks like broke up succesfuly for now
so I reduce the risk by 20%
in the meantime decided to buy eur/usd at the wekly PPZ and RN,

Peter


I think she wants to break the 4500 level and head lower. I'm selling and holding for the 150 ma on the 4hr, around 4400
  • #96,256
  • Jun 9, 2011 12:54pm Jun 9, 2011 12:54pm
Quoting Bryan
I think she wants to break the 4500 level and head lower. I'm selling and holding for the 150 ma on the 4hr, around 4400
Looks to be heavy enough, I have taken a chance of reaction at PPZ and brought to BE quickly and by now it has closed so I wish You Good Luck

Peter
Jesus Christ is my only Lord !
  • #96,257
  • Jun 9, 2011 1:03pm Jun 9, 2011 1:03pm
Quoting goldfish3
So it seems that euro has taken the tumble due to ECB keeping key interest rate unchanged during the month. However, it intends to provoke inflation with this move, due to deflationary pressures from the Greek debt solvency issue, and increase the key rate in July. Depending on how well the euro zone's economy is contained this month, IMO the trend of the Euro should be smoothly downward this month until next months IR change is implemented.

imho, there won't be another raise till Draghi hits the chair in october. At least that was my working premise since the last wedding I've attended(I truly hate this type of parties) - that they'll let Draghi raise so he'll be more palatable to the german establishment.

Extremely suprised by today's strong vigilance. I mean, one's fully aware of the asymmetry in ecb's mandate, but you'd think in dire straits they'd be more prone to ignore the letter of that mandate; especially considering Spain's size which is heavy weight. Truly weird.

and after pondering for 3h on what to short eur against... I come up with yen expecting the US trade balance(that was released in the same time) to come up poorly... gah!
  • #96,258
  • Jun 9, 2011 1:18pm Jun 9, 2011 1:18pm
Quoting g_j_hook@yah
nice one Adi...maybe your bad streak is coming to an end..

i also played it the same.

jon
Cool! I decided to play both, eur/cad & eur/gbp. Both came out nicely, full profit on each.
  • #96,259
  • Jun 9, 2011 1:18pm Jun 9, 2011 1:18pm
Well done to all the Euro sellers, I hope it continues on Friday

I cant seem to trade on the back of the news for some reason, maybe I am getting picky in my old age (thanks to the Seniors for that)

I havent taken a trade all week but hope that changes on Friday with a few breakout, retrace PA to enter trades off HTF Support or Resistance

All the best

Anthony
  • #96,260
  • Jun 9, 2011 1:24pm Jun 9, 2011 1:24pm
Quoting Adilius07
EURCAD is falling like a rock!
I went back for 'sloppy seconds' this morning and quite glad I did

Stop is at 1.4210 (1R) so I'm wondering how to manage this one..
Anything can happen.
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