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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

  • #99,521
  • Edited 4:16pm Jul 29, 2011 4:02pm | Edited 4:16pm
Quoting deankenny21
nah its cool, i know your only trying to help, but i did get a brain overload there
that's what I wanted to explain with moving sl/keeping too tight(hopefully you weren't hit) for end of week/month and thin market.

probably the volume was irrelevant in that spike, but still it moved 30 pips due to thinness of market in end week/month. When your entry isn't necessary very well placed/defended it's good to let it abit looser when you know it'll be very volatile(and last 20 mins of the week are always like this; more so at end of month).

and with aud bank holiday sunday open, it's a chance the 1st 3h of next week till Tokyo open will look pretty much the same.
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  • #99,522
  • Jul 29, 2011 4:04pm Jul 29, 2011 4:04pm
Quoting snowly
that's what I wanted to say with moving sl/keeping too tight(hopefully you weren't hit) for end of week/month and thin volatility.

probably the volume was irrelevant in that spike, but still it moved 30 pips due to thinness of market in end week/month.
i gotcha, my SL is at BE which is 1.3029
  • #99,523
  • Jul 29, 2011 9:02pm Jul 29, 2011 9:02pm
Can someone help me understand what the price is telling us.

Please see the picture attached.
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  • #99,524
  • Jul 29, 2011 10:24pm Jul 29, 2011 10:24pm
Quoting torontobboy2
Can someone help me understand what the price is telling us.

Please see the picture attached.
The buyers reached to a strong resistence,but pushed by 2 supports and the trend's power,now is stuck in range market.
On weekly and daily you will see this consolidation as bullish flag patterns.
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Nothing personal,just business
  • #99,525
  • Jul 29, 2011 11:07pm Jul 29, 2011 11:07pm
Quoting Atom
I am watching it too with the same thought process. short @ retest with bearish PA on H4 or H1. Probably next week
It drop already. Have you notice any bearish PA (h4 or h1) in your broker?
  • #99,526
  • Jul 30, 2011 1:38am Jul 30, 2011 1:38am
Quoting torontobboy2
Can someone help me understand what the price is telling us.

Please see the picture attached.
Hey TB

I put some thoughts on a chart. It really applies for monthly weekly and daily. The lack of closes could suggest higher, which would be my guess. I don't trade on guesses though so I will watch if we can break out of the range we are in

Have a great weekend all
Mike
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  • #99,527
  • Edited 7:07am Jul 30, 2011 2:01am | Edited 7:07am
  •  Atom
  • | Joined Jul 2010 | Status: An atom..no more..probably less! | 44 Posts
Quoting TransPorter
It drop already. Have you notice any bearish PA (h4 or h1) in your broker?
I think it is good. Almost a THLC on daily (3 pips difference on the High). However, I do not have any bearish PA on H4. Perfect scenario would be if it breaks the almost THLC to 125.90 and retraces back to 126.40 area. If that happens, I think I will short it even without a PA. My target will be 125.50 with SL 127.50
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  • #99,528
  • Jul 30, 2011 4:18am Jul 30, 2011 4:18am
Quoting torontobboy2
Can someone help me understand what the price is telling us.

Please see the picture attached.
hey. usually spikes mean that byers or seller are consumed. what a spikes mean.. in our case price tries to go down but there are buyer there so it creates a spike. on the neXt candle price tries to go down again but there are buyers again it creates a spike. on the third candle.. same story. the point is how many buyers do you think left down there
  • #99,529
  • Jul 30, 2011 4:52am Jul 30, 2011 4:52am
swiss adecco on weekly coming into a support-zone at 45 chf. very high volume on the weekly indicating that buyers are stepping in.
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meine augen sind die sterne
  • #99,530
  • Jul 30, 2011 9:13am Jul 30, 2011 9:13am
Quoting aserbfx
swiss adecco on weekly coming into a support-zone at 45 chf. very high volume on the weekly indicating that buyers are stepping in.
I thought Forex didn't have volume.
  • #99,531
  • Jul 30, 2011 9:17am Jul 30, 2011 9:17am
Quoting vbmark
I thought Forex didn't have volume.
....
Hero calls followed by margin calls...
  • #99,532
  • Jul 30, 2011 9:29am Jul 30, 2011 9:29am
First... I would like thank J16 & Everyone for everything that you do. For the first time in my life (over years of trading) I am actually learning how to trade, and it's an amazing feeling to analyze a chart, develop a plan, and see price do what you expect it to, and it fills me with hope for my future, It is quite an eye opener, you've helped not only my trading but my personal life as well, more greese to your elbow.

Your system is really the easiest and best way to trade, the only thing we need is patience to achieve all this.

But the only problem i have so far is how to place the pending orders. Is there any way i can place two pending orders with different tp and sl? cos whenever i modify one of my pending order's tp or sl, thesame tp & sl reflects to my other pending order. Pls need ur help!
  • #99,533
  • Jul 30, 2011 9:34am Jul 30, 2011 9:34am
Quoting PhAnTi'
....
hey phanti!

how is it hanging, my friend?

happy 'pipping'!
meine augen sind die sterne
  • #99,534
  • Jul 30, 2011 9:36am Jul 30, 2011 9:36am
Quoting vbmark
I thought Forex didn't have volume.
This is a stock chart. You are right forex doesn't have volume in the traditional sense. Some people and methods do use tick data for a volume substitute in forex, VSA comes to mind.
  • #99,535
  • Jul 30, 2011 9:38am Jul 30, 2011 9:38am
Quoting aserbfx
hey phanti!

how is it hanging, my friend?

happy 'pipping'!
doing pretty good, all fine....anyway still searching/waiting/buliding for some funds to trade finally with standard lots

u ? all fine ?

kind regards
Jonas

Hero calls followed by margin calls...
  • #99,536
  • Jul 30, 2011 9:39am Jul 30, 2011 9:39am
Quoting J.W. Holmes
This is a stock chart. You are right forex doesn't have volume in the traditional sense. Some people and methods do use tick data for a volume substitute in forex, VSA comes to mind.
Oh, I wasn't expecting to see a stock chart in a forum named FOREX factory. My mistake.

Thanks for the reply.
  • #99,537
  • Jul 30, 2011 9:49am Jul 30, 2011 9:49am
Quoting vbmark
Oh, I wasn't expecting to see a stock chart in a forum named FOREX factory. My mistake.

Thanks for the reply.
when trading forex, you need to be ready to expect everything :-)
meine augen sind die sterne
  • #99,538
  • Jul 30, 2011 9:54am Jul 30, 2011 9:54am
Quoting aserbfx
when trading forex, you need to be ready to expect everything :-)
I expect my broker to say, "Oh, look, vbmark is going long. Let's go extra long for him today."
  • #99,539
  • Jul 30, 2011 9:56am Jul 30, 2011 9:56am
Quoting PhAnTi'
doing pretty good, all fine....anyway still searching/waiting/buliding for some funds to trade finally with standard lots

u ? all fine ?

kind regards
Jonas

no prob. everything's fine.

------------------------------

aph on weekly. yes, a stock, too. establishing a flag. near support. on friday some buyers already came in.
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meine augen sind die sterne
  • #99,540
  • Jul 30, 2011 11:55am Jul 30, 2011 11:55am
Hi aserbfx

Thanks a lot for posting your charts.
You mentioned that you screen several thousand charts per week.

What broker do you use who offers so many charts?

Thanks
Andreas

Quoting aserbfx
swiss adecco on weekly coming into a support-zone at 45 chf. very high volume on the weekly indicating that buyers are stepping in.
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