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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

  • #98,781
  • Jul 18, 2011 3:38pm Jul 18, 2011 3:38pm
Quoting Greenhaze
It looks like the support is holding for now but personally i stir away from this pair for now. It is a bad news ping-pong between US and EU at this time. Too much informational chaos and fake moves imho.
yeah you might be right its pretty choppt right now. but im pretty bullish this pair atm...
im not trading it either though im pretty much margined out on gp/yen shorts and now the cad pin bar(jus going into profit)... wish me luck lol

jon
PATIENCE... DISCIPLINE
  • #98,782
  • Jul 18, 2011 3:42pm Jul 18, 2011 3:42pm
Quoting mbqb11
just some of my thoughts,

not to discourage anyone of course

Best
Mike
Thank you very much Mike for your comments! I was also thinking about those bar highs you show. And maybe we can read the story like this:
(THE BOX).. so those bar highs will be a good, logical exit level at the upper boundary of the box...
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  • #98,783
  • Jul 18, 2011 3:44pm Jul 18, 2011 3:44pm
Quoting jarroo
You'll have to admitt that Price retaced to that PPZ level . .almost to the pip . .when PBT&CB . . you couldn't make that PPZ level any tighter . .
no your right, its a great example.Thats defo the strongest level in play right now. but im a little nervous of the bar itself(its not something i would trade personally, i like them to be totally contained in the previous bar, which this one isnt, and i prefer them on shorter TFs) and would like to see PBT/CB the next level down also. looks very bearish though eh!!??
i would also add that because i trade lower TFs i think we will see another oppertunity to enter if/when price does break lower???( i hope)lol


jon
PATIENCE... DISCIPLINE
  • #98,784
  • Jul 18, 2011 3:50pm Jul 18, 2011 3:50pm
Note: These are risky compared to our set ups with more confluence. You should never trade these touch set ups until you have put it thru a full demo process.
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  • #98,785
  • Jul 18, 2011 3:56pm Jul 18, 2011 3:56pm
Quoting g_j_hook@yah
no your right, its a great example.Thats defo the strongest level in play right now. but im a little nervous of the bar itself(its not something i would trade personally, i like them to be totally contained in the previous bar, which this one isnt, and i prefer them on shorter TFs) and would like to see PBT/CB the next level down also. looks very bearish though eh!!??
i would also add that because i trade lower TFs i think we will see another oppertunity to enter if/when price does break lower???( i hope)lol


jon
I see your point, jon . .that next level down looks pretty strong . .it stopped Price in its track . .should be fun to watch . .also I'm not the biggest fan of the "crazy crosses" . .lol . .but a strong level is a strong level on any pair.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #98,786
  • Jul 18, 2011 3:57pm Jul 18, 2011 3:57pm
Quoting james16
Note: These are risky compared to our set ups with more confluence. You should never trade these touch set ups until you have put it thru a full demo process.
very nice boss, 25 pips is impressive!! horizontal ok!!!
(better price than me ) haha

jon
PATIENCE... DISCIPLINE
  • #98,787
  • Jul 18, 2011 3:59pm Jul 18, 2011 3:59pm
Quoting g_j_hook@yah
yeah you might be right its pretty choppt right now. but im pretty bullish this pair atm...
im not trading it either though im pretty much margined out on gp/yen shorts and now the cad pin bar(jus going into profit)... wish me luck lol

jon
I am trying to find that cad pb... is it weekly usdcad pin?
  • #98,788
  • Jul 18, 2011 4:03pm Jul 18, 2011 4:03pm
Quoting Adilius07
Thank you very much Mike for your comments! I was also thinking about those bar highs you show. And maybe we can read the story like this:
(THE BOX).. so those bar highs will be a good, logical exit level at the upper boundary of the box...
Thats an interesting bar with strong close. Since price haven't made any retracement today then it be might good idea to look for tighter entry at 0.8750 area. Bar high penetration before that would be nice. Cheers!
  • #98,789
  • Jul 18, 2011 4:10pm Jul 18, 2011 4:10pm
Was it the IB signal and the break of support that got you into that GBP/JPY trade.

Feel silly asking this question, great thread by the way (some fantastic people out there helping those people who want to learn and grow rather than be one of the 95% that fail).

Steve :-)
Enter Signature
  • #98,790
  • Jul 18, 2011 4:11pm Jul 18, 2011 4:11pm
Quoting g_j_hook@yah
no your right, its a great example.Thats defo the strongest level in play right now. but im a little nervous of the bar itself(its not something i would trade personally, i like them to be totally contained in the previous bar, which this one isnt, and i prefer them on shorter TFs) and would like to see PBT/CB the next level down also. looks very bearish though eh!!??
i would also add that because i trade lower TFs i think we will see another oppertunity to enter if/when price does break lower???( i hope)lol


jon
there was a pin on H4

Quoting snowly
for who feels brave - 1.019 was confirmed as resistance.

I've passed on it due to news incoming, but PA wise, I think it could be decent enough at least till 1.0094(50% fibo of the last move) - 1.01. The pin is far from marvelous(technically you could say it's not precisely a pin - but the location is spot on)

What lies ahead:

in 12h - RBA minutes(that's the reason I've passed, despite the layout being quite good technical wise) - currently apparently it's pretty much priced in some rate decrease. If it turns out to be hawkish and that...
tried to post it right when it was ongoing(or well, after it broke the nose of the pin for a valid entry) case anyone wanted it.
  • #98,791
  • Jul 18, 2011 4:14pm Jul 18, 2011 4:14pm
Considering short entry on this pin. b/e when +30 pips first target. final target 1.5025
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Trading is a test match not a Twenty20.
  • #98,792
  • Jul 18, 2011 4:21pm Jul 18, 2011 4:21pm
Note: These are risky compared to our set ups with more confluence. You should never trade these touch set ups until you have put it thru a full demo process

Hi Jim,

I am a new to this great thread. started to read every post from the very beginning. I feel so lucky that i found your thread. im a chinese guy studied in the US, just graduated from college last year, currently work in the FX Dept. of a bank. Sometimes i just worry that i am kinda too late to learn this, because there is ton of stuff i have to learn. anyways, i just take the time to read those old posts since 2005 haha~~~ . Wish you the best jim.

Sky
  • #98,793
  • Jul 18, 2011 4:23pm Jul 18, 2011 4:23pm
Quoting Greenhaze
I am trying to find that cad pb... is it weekly usdcad pin?
4H on alpari uk.

jon
PATIENCE... DISCIPLINE
  • #98,794
  • Jul 18, 2011 4:24pm Jul 18, 2011 4:24pm
Quoting Greenhaze
Thats an interesting bar with strong close. Since price haven't made any retracement today then it be might good idea to look for tighter entry at 0.8750 area. Bar high penetration before that would be nice. Cheers!
it looks ok to me also. the gb/us is very weak today, if we can get a break of the 1.6000 level tomorro it will be flying.
jon
PATIENCE... DISCIPLINE
  • #98,795
  • Jul 18, 2011 4:34pm Jul 18, 2011 4:34pm
i will post another updated chart. welcome to the thread.

jim

Quoting Mrgreener
Was it the IB signal and the break of support that got you into that GBP/JPY trade.

Feel silly asking this question, great thread by the way (some fantastic people out there helping those people who want to learn and grow rather than be one of the 95% that fail).

Steve :-)
  • #98,796
  • Jul 18, 2011 4:35pm Jul 18, 2011 4:35pm
chart

Quoting Mrgreener
Was it the IB signal and the break of support that got you into that GBP/JPY trade.

Feel silly asking this question, great thread by the way (some fantastic people out there helping those people who want to learn and grow rather than be one of the 95% that fail).

Steve :-)
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  • #98,797
  • Jul 18, 2011 4:41pm Jul 18, 2011 4:41pm
Quoting james16
Note: These are risky compared to our set ups with more confluence. You should never trade these touch set ups until you have put it thru a full demo process.

That baby is below a pretty deep Swing Low . .a transitional level. .this thing could go down a long way . .nice one Jim . .
Indicators show the past. Price Action "Indicates" the future.
  • #98,798
  • Jul 18, 2011 4:45pm Jul 18, 2011 4:45pm
[quote=snowly;4789893]there was a pin on H4
QUOTE]

yeah but not very convincing though imho...




jon
PATIENCE... DISCIPLINE
  • #98,799
  • Jul 18, 2011 4:49pm Jul 18, 2011 4:49pm
Quoting jarroo
That baby is below a pretty deep Swing Low . .a transitional level. .this thing could go down a long way . .nice one Jim . .

my thoughts exactly....lets hope so....lol

jon
PATIENCE... DISCIPLINE
  • #98,800
  • Jul 18, 2011 4:51pm Jul 18, 2011 4:51pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting james16
Note: These are risky compared to our set ups with more confluence. You should never trade these touch set ups until you have put it thru a full demo process.
Jim, thanks for the clarifying 2nd chart, the first chart was a bit cryptic for this newbie. How do you enter these touch trades? I imagine you have your SL above the touch line, but when/how do you decide it's headed down and thus time to get in? Thanks.
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