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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

  • #96,321
  • Jun 10, 2011 3:30am Jun 10, 2011 3:30am
Quoting jarroo
I'm not James16 but I like it too.

Nice Space . .at a swing High . . big in size . .previous High and Lows as targets (blue) .. nice retrace to the BEOB's previous bar Low . .which could have been used as an entry or S/L level.
Ohh...Good u said that!!
i thought 1.3650 was a trouble area..which made me skip..i confused here thinking its still sitting on support...
maybe the space here was great enuf to break the ppz...?
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  • #96,322
  • Jun 10, 2011 3:34am Jun 10, 2011 3:34am
Quoting AvanishDemo
Ohh...Good u said that!!
i thought 1.3650 was a trouble area..which made me skip..i confused here thinking its still sitting on support...

You were not confused AD . . it was sitting on Support . .now let's see if Price can break through Support and turn it into Resistance . ..
Indicators show the past. Price Action "Indicates" the future.
  • #96,323
  • Jun 10, 2011 3:35am Jun 10, 2011 3:35am
Quoting jarroo
I'm not James16 but I like it too.

Nice Space . .at a swing High . . big in size . .previous High and Lows as targets (blue) .. nice retrace to the BEOB's previous bar Low . .which could have been used as an entry or S/L level.
Hey jarroo!
Your charts and thoughts are also helpful as James are!
I also like retrace to the previous bar low + RN (1.37)..

tnx again and have fun!
  • #96,324
  • Jun 10, 2011 3:43am Jun 10, 2011 3:43am
Quoting jarroo
Hey Steve . .good to see you too. .


lol . .Not yet at 1000 posts . . but they're moving pretty quick . .

Just good old Support and Resistance levels once PBT&CAorB . . .HCR/LCS . .trade management . .etc ..

Its alot of fun . .


Jim
Hey jarroo

Welcome back to your spiritual home! This place IS great but not the same without you so please drop in as often as you can! Some of us need your guiding light, common sense and trading expertise!!
Every time I see a post from you I cant wait to read it.

Mike, as usual, is doing wonders supporting and advising us, but when you come along its a double-whammy of great trading insight and advice so drop in some more please big fella when you get the chance!!

Kal
  • #96,325
  • Jun 10, 2011 3:43am Jun 10, 2011 3:43am
Quoting 5.25
Something that's caught my eye;

gbpcad daily, PBT&CB 1.600BRN. Not the 'cleanest' of charts in my opinion and looks like price is trading sideways, but it does look like a strong closing BEOB (all be it not at a swing high or low).

Anyone else?

Tomek

Edit: Heading straight into 1.5900
- Sell limited triggered (sub 1.5900).
- 50% profit at 1.5800 banked.
- Stop loss at break even. (Looks like it may get triggered. We'll see).
  • #96,326
  • Jun 10, 2011 3:46am Jun 10, 2011 3:46am
Quoting Kalbar
Hey jarroo

Welcome back to your spiritual home! This place IS great but not the same without you so please drop in as often as you can! Some of us need your guiding light, common sense and trading expertise!!
Every time I see a post from you I cant wait to read it.

Mike, as usual, is doing wonders supporting and advising us, but when you come along its a double-whammy of great trading insight and advice so drop in some more please big fella when you get the chance!!

Kal
Thanks Kal . .I been away from the FF for a bit . . a lot of my time has been in the PF . .but I'll never forget the true place where it all began for me . .right here in this great Thread . .
Indicators show the past. Price Action "Indicates" the future.
  • #96,327
  • Jun 10, 2011 4:20am Jun 10, 2011 4:20am
I have been watching usd/cad and on weekly and daily can see a strong down trend with a pin on daily, if it breaks multisupport tl on h4 it might be a chance to follow down for at lest 50 pips so that I could raduce my SL at that time or even move to BE parhaps with the green line as the TP,

Peter
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Jesus Christ is my only Lord !
  • #96,328
  • Jun 10, 2011 4:20am Jun 10, 2011 4:20am
Quoting 5.25
- Sell limited triggered (sub 1.5900).
- 50% profit at 1.5800 banked.
- Stop loss at break even. (Looks like it may get triggered. We'll see).
Hi tomek

Well done on having the nerve to take this one! I saw it but because this pair can be choppy gave it a miss so hats off to you for taking it!

kal
  • #96,329
  • Jun 10, 2011 4:54am Jun 10, 2011 4:54am
Quoting james16
chart
Hi Jim

Good to see you posting here. Just wanted to ask if you saw the head and shoulders pattern (nice round shape and neckline) on this chart and was that a viable entry or did you see the entry as a touch entry back at the previous support now becoming resistance? Only reason I ask is that I dont see a PA entry on this one.

Thanks

kal
  • #96,330
  • Jun 10, 2011 4:56am Jun 10, 2011 4:56am
Sorry, forgot chart!!
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  • #96,331
  • Jun 10, 2011 5:00am Jun 10, 2011 5:00am
Hi All,

For it to be a valid IB, does the open/close of the third bar have to break the highs/lows of the first and second or does it only have to break the open/close of the first and second just as long as its own high/low are greater than the previous 2. For example would the below PA be considered an IB or would the close have to be below the low of bar 1 for it to be a proper IB?

-HW
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  • #96,332
  • Jun 10, 2011 5:25am Jun 10, 2011 5:25am
Quoting goldfish3
Hi All,

For it to be a valid IB, does the open/close of the third bar have to break the highs/lows of the first and second or does it only have to break the open/close of the first and second just as long as its own high/low are greater than the previous 2. For example would the below PA be considered an IB or would the close have to be below the low of bar 1 for it to be a proper IB?

-HW
Hi ya HW..

These 2 posts should help you with understanding IB's I hope

http://www.forexfactory.com/showthre...82#post2440282
http://www.forexfactory.com/showthre...9131#post19131

Cheers,
Adrian
  • #96,333
  • Jun 10, 2011 5:28am Jun 10, 2011 5:28am
Quoting goldfish3
Hi All,
For it to be a valid IB, does the open/close of the third bar have to break the highs/lows of the first...
hello HW,
for clarity, u didnt specify which one is the 3rd bar, etc.
anyway, check if the post below helps
http://www.forexfactory.com/showthre...15#post4663315

edit:
just saw your post, Adrian
  • #96,334
  • Jun 10, 2011 5:32am Jun 10, 2011 5:32am
Quoting supremeChaos
hello HW,
for clarity, u didnt specify which one is the 3rd bar, etc.
anyway, check if the post below helps
http://www.forexfactory.com/showthre...15#post4663315

edit:
just saw your post, Adrian
Hey Supreme..get with the plan!
  • #96,335
  • Jun 10, 2011 5:33am Jun 10, 2011 5:33am
Quoting james16
chart
james,i have a question
how do you play that entry? waiting for pul back to the s/r level and then some kind of blind thouch entry or.....?
thnx
  • #96,336
  • Jun 10, 2011 5:35am Jun 10, 2011 5:35am
Quoting aarangio
Hey Supreme..get with the plan!
By bars 1, 2 and 3 i mean starting from the left bar (1), the inside bar (2) and the breakout bar (3). Thanks guys the links help. Appreciate it.
  • #96,337
  • Jun 10, 2011 5:41am Jun 10, 2011 5:41am
Quoting Kalbar
Hi tomek

Well done on having the nerve to take this one! I saw it but because this pair can be choppy gave it a miss so hats off to you for taking it!

kal
Hey Kal,

Yeah, either brave or stupid

I should have taken full profit when I had the chance in a choppy market.
  • #96,338
  • Jun 10, 2011 5:44am Jun 10, 2011 5:44am
Quoting goldfish3
By bars 1, 2 and 3 i mean starting from the left bar (1), the inside bar (2) and the breakout bar (3).
For an IB to be an IB all you need is a high and low of the bar to be totally engulfed by the previous bar...

(1)the mother candle (engulfs the next bar)
(2)IB (on completion of bar as long as engulfed by mother candle)
(3)Breakout Bar (take the trade from break of either side of IB, long/short)

Cheers,
Adrian
  • #96,339
  • Jun 10, 2011 6:23am Jun 10, 2011 6:23am
Quoting pex
james,i have a question
how do you play that entry? waiting for pul back to the s/r level and then some kind of blind thouch entry or.....?
thnx
Hey Pex

I was asking Jim the same question because there does not seem to be a PA bar to enter off! think he probably entered off a touch back to previous support but another entry could have been a break of the nice Head and shoulders pattern which formed on this one which is on chart I posted a few posts back.

kal
  • #96,340
  • Jun 10, 2011 6:33am Jun 10, 2011 6:33am
Quoting Kalbar
Hey Pex

I was asking Jim the same question because there does not seem to be a PA bar to enter off! think he probably entered off a touch back to previous support but another entry could have been a break of the nice Head and shoulders pattern which formed on this one which is on chart I posted a few posts back.

kal
thnx for the reply kal
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