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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

  • #96,381
  • Jun 11, 2011 12:56am Jun 11, 2011 12:56am
Quoting Dan Gilbert
This is the longest I have held a trade this year, and I had another trade similar to this earlier this year. Holding positions like this for so long when you're in a free trade is pretty easy in my opinion, although a year ago I probably wouldn't have been able to imagine it lol. I would prefer if it miraculously hits the target before market close today, but if not, I'll still be waiting.

Looking good Dan . .


If Price can Close below that consolidation area its got a good chance of hitting that 1.2 . .and maybe even lower ..

Just some thoughts ..

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #96,382
  • Jun 11, 2011 1:06am Jun 11, 2011 1:06am
Quoting Pinbar
Took the daily BEOB and got up this morning to see that the weekly bar closed as a bearish PB.

My goal is to manage the daily entry with a view to it getting me into the weekly PB should it break.

Trouble is, I have to go to Hong Kong on Monday and will not be able to keep my eye on it so much, till I get there, late in the evening.
Nice plan Pb . .
Indicators show the past. Price Action "Indicates" the future.
  • #96,383
  • Jun 11, 2011 1:14am Jun 11, 2011 1:14am
Quoting Pinbar
EUR/CAD

Seems to be at an interesting area of old resistance and we also have three weekly bullish bars in a row.

Just trying to keep things real simple now that I have much less time to analyze the charts than I previously had. In a strange way, this kind of makes it even more refreshing.

Looks great Pb . .

No surprise that the Highest Close of Resistance may now turn into Support . .because PBT&CA . .Some Bullish PA at the 1.4 would be nice. . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #96,384
  • Jun 11, 2011 1:19am Jun 11, 2011 1:19am
Quoting jarroo
Looking good Dan . .


If Price can Close below that consolidation area its got a good chance of hitting that 1.2 . .and maybe even lower ..

Just some thoughts ..

Jim
Yeah 1.2000 is my target. I will close the whole thing there. Hopefully there will be more opportunity before the end of June lol... zero trades initiated this month so far, the EURCHF was triggered in May. I've gotten to the point where if something doesn't jump off the chart and attack me, I don't even look at it twice. Maybe if I gain more confidence demoing some "mediocre" setups, I will be able to apply it to my real account before long. This week I think most J16ers saw that a euro drop was due, and it happened. My concern was how choppy/trafficy the road ahead was for those bars, and the general lack of confluence that I see on some of the trades our veterans here decided on taking.

I'm just chillin'
Many choose unhappiness over uncertainty.
  • #96,385
  • Jun 11, 2011 1:26am Jun 11, 2011 1:26am
Quoting jarroo
Looks great Pb . .

No surprise that the Highest Close of Resistance may now turn into Support . .because PBT&CA . .Some Bullish PA at the 1.4 would be nice. . .


Jim

I'm still short this pair and struggling to decide whether to knock it on the head after it hit 1.4012 and closed above 1.4050..This is making me think about banking my pips.

Anyone got any fundamental opinions about EUR next week? Is it still in the crapper?
Anything can happen.
  • #96,386
  • Jun 11, 2011 1:30am Jun 11, 2011 1:30am
Quoting jarroo
Looks like the Daily BEOB on the Eur/Aud hit its target(s) perfectly . .Classic James16 PA.

The 1.3650 was clear PPZ level on the Higher TF as you noted AD , looking at the 4 Hour we see that this Higher TF PPZ level acting as Support by not being able to close below the 1.3650 level. . .

. . Price Breaks Through and Closes Below the 1.3650 Support level and turns into Resistance.

An entry at this transitional point (Support to Resistance), the 1.3650 would have been a great entry with very little draw down.

PA and S/R . .nice...
HA,Classic...learnt something new today..
seems like u finally in a roll now after busy schedule..
looking forward to ur posts...Good Weekend!
  • #96,387
  • Jun 11, 2011 1:50am Jun 11, 2011 1:50am
Quoting jarroo
Hey CalvinK,

Yes, that's a valid BUOB . .at a Swing Low. To entry long at the break of that BUOB we have to identify the target or First Trouble Area or Space available to allow this setup to run.


For targets . . we look for previous bar Highs/Lows, BRNs, RNs and PPZ levels. The Lows in green are below the BUOB so this a good thing . .they can help in aiding our BUOB once it breaks. Think of them as Resistance Lows that may turn back into Support.

The blue lines are previous bar Lows and a PPZ level. This BUOB hit its target . .previous...
Hey Jaroo, so nice that I have your response here, very comprehensive explanation which make it quite clear! thank you, mater.
----------------------------- Discipline makes the difference.
  • #96,388
  • Jun 11, 2011 1:55am Jun 11, 2011 1:55am
Quoting Dan Gilbert
Yeah 1.2000 is my target. I will close the whole thing there. Hopefully there will be more opportunity before the end of June lol... zero trades initiated this month so far, the EURCHF was triggered in May. I've gotten to the point where if something doesn't jump off the chart and attack me, I don't even look at it twice. Maybe if I gain more confidence demoing some "mediocre" setups, I will be able to apply it to my real account before long. This week I think most J16ers saw that a euro drop was due, and it happened. My concern was how choppy/trafficy...
Yeah . .choppy /trafficy markets can be a tough to navigate through.

Finding these consolidation boxes can be a great way to define some uniformity to choppy markets. They can be great trading opportunites and a great way to manage a trade.

The more we do .. .the more we learn . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #96,389
  • Jun 11, 2011 2:04am Jun 11, 2011 2:04am
Quoting ddinnov
I'm still short this pair and struggling to decide whether to knock it on the head after it hit 1.4012 and closed above 1.4050..This is making me think about banking my pips.

Anyone got any fundamental opinions about EUR next week? Is it still in the crapper?

Fundmentals? . .I can't help you there . .I think Forex Factory has a Calendar or something on this stuff . . . . . .(just kidding . .lol . . )
Indicators show the past. Price Action "Indicates" the future.
  • #96,390
  • Jun 11, 2011 2:06am Jun 11, 2011 2:06am
Quoting AvanishDemo
HA,Classic...learnt something new today..
seems like u finally in a roll now after busy schedule..
looking forward to ur posts...Good Weekend!

You've got a good eye AD . . . .I enjoy your posts.


Have a great Weekend.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #96,391
  • Jun 11, 2011 2:08am Jun 11, 2011 2:08am
Quoting CavinK
Hey Jaroo, so nice that I have your response here, very comprehensive explanation which make it quite clear! thank you, mater.

Thanks CalvinK.
Indicators show the past. Price Action "Indicates" the future.
  • #96,392
  • Jun 11, 2011 2:52am Jun 11, 2011 2:52am
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A chart helps those who can read it.
  • #96,393
  • Jun 11, 2011 4:16am Jun 11, 2011 4:16am
Quoting ddinnov
I'm still short this pair and struggling to decide whether to knock it on the head after it hit 1.4012 and closed above 1.4050..This is making me think about banking my pips.

Anyone got any fundamental opinions about EUR next week? Is it still in the crapper?
didn't watch it, but if it hit 1.4(think that was 1st S) same 24h I would've exit and watch for pa to eventually reenter for the 1.4 - 1.38(think that was the next leg?) run. Fundamental wise, it's a quiet week next week; 2nd week in the month, minor if any announcements.

that leaves the floor open for "breaking news"; that normally is "short eur" since breaking news lately revolve around what "troika" did an how the situation is messy, how Greece will default and ecb will go broke and the sun will stop(don't know exactly what the sun will stop doing, but hey...). But from time to time, instead of messy situation apparently we get another round of "we solved all the problems", "can kicking", "everything will be allright", "we're all happy happy happy"... like the world economy can go in the toilet and rebound in the space of 2 weeks...

On the other hand, it dropped pretty hard last 2 days - some rebounce should happen; they always fill the gaps...

theoretically, if the germans stick to their point and involve bond holders too(with the risk of a cds event trigger) that'll be short term negative and long term positive. Not with only rolling over the debt, but with some haircut too(and noone said anything about that yet) - you don't have to be a maths genius to figure out that debt can't be paid, period.
But chances for speedy solutions(1 year over here is very little) and realistic/"facing the situation" ones are minor at best... it's democracy and we all want to be reelected, right? Makes you wonder why the run in the 1st place if they don't have even a modicum of goodwill and hope of doing some decent governance...
  • #96,394
  • Jun 11, 2011 5:08am Jun 11, 2011 5:08am
Quoting poncho1
Any one care to answer my question? Jarroo, Mike, James?

I passed a sell on the Eur/gbp due to the line marked on my weekly chart and every one else didn't seem to be concerned about it. TIA.

Poncho
hey poncho, your upper TL is legit imho (not sure about the wedge pattern thiugh..)and you had a right to be concerned.(and did well to stick with your methods) We can take direction from these breakouts but remember the TFs can be traded indipendantly... the trade setups where on the D1 chart and imho there was still room on this TF to take the trade if managed properly.

Most people on this thread trade off horizontal PPZ and TLs are kept to a minimum i think this is why your post was overlooked.
heres my chart...

hope this helps

jon
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PATIENCE... DISCIPLINE
  • #96,395
  • Jun 11, 2011 5:10am Jun 11, 2011 5:10am
Is anyone else having problems with Alpari UK demo accounts??? every week or so it wont let me use my account!!! it just keeps saying it is an invalid account!!!
so damn anoying. my running trades have been abandoned yet again

jon
PATIENCE... DISCIPLINE
  • #96,396
  • Jun 11, 2011 5:11am Jun 11, 2011 5:11am
Quoting jarroo
Great posts Jon . . .
thanx buddy, good to see around here
hope you get the time to visit us again

jon
PATIENCE... DISCIPLINE
  • #96,397
  • Jun 11, 2011 5:22am Jun 11, 2011 5:22am
Quoting james16
http://www.forexfactory.com/attachme...1&d=1307646933
hi James, glad to see you here as allways. can you tell me if when you enter a trade on a pull back do you open your possition when price is on its way up or down ???
cheers


jon
PATIENCE... DISCIPLINE
  • #96,398
  • Jun 11, 2011 8:27am Jun 11, 2011 8:27am
Quoting jarroo
Looks great Pb . .

No surprise that the Highest Close of Resistance may now turn into Support . .because PBT&CA . .Some Bullish PA at the 1.4 would be nice. . .


Jim

Thanks for the input Jim.

Really appreciate your thoughts.

Have a great weekend with your gorgeous GF, my friend.

I shall be sipping gin & Tonics by the pool in HK come Monday.
  • #96,399
  • Jun 11, 2011 8:44am Jun 11, 2011 8:44am
Quoting Pinbar
I shall be sipping gin & Tonics by the pool in HK come Monday.
FYI, a great place for a cheap Michelin-starred feast! Can't recommend it enough.

Tim Ho Wan, Kwong Wa Street, Mong Kok, Kowloon

Edit: http://www.telegraph.co.uk/travel/fo...t-in-town.html
  • #96,400
  • Jun 11, 2011 9:37am Jun 11, 2011 9:37am
Quoting jarroo
Looks like the Daily BEOB on the Eur/Aud hit its target(s) perfectly . .Classic James16 PA.

The 1.3650 was clear PPZ level on the Higher TF as you noted AD , looking at the 4 Hour we see that this Higher TF PPZ level acting as Support by not being able to close below the 1.3650 level. . .

. . Price Breaks Through and Closes Below the 1.3650 Support level and turns into Resistance.

An entry at this transitional point (Support to Resistance), the 1.3650 would have been a great entry with very little draw down.

PA and S/R . .nice...
thnx jarroo
missed your posts
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