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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

  • #100,501
  • Aug 16, 2011 7:00pm Aug 16, 2011 7:00pm
Quoting Frxter
yep, Bemac... my TP is at .8318... it is obscured by that garish pink PPZ line. Hehehe.

OK, now that u mention .8200 seems much more realistic. Thanks for that.
I, initially erred & said "Seller" when I meant "Buyer". I corrected it but you apparently quoted it Before I corrected My post.
To Readers:
I believe Frxter is playing the Long side.

B
  • #100,502
  • Aug 16, 2011 7:01pm Aug 16, 2011 7:01pm
Quoting Frxter
yep, Bemac... my TP is at .8318... it is obscured by that garish pink PPZ line. Hehehe.

OK, now that u mention .8200 seems much more realistic. Thanks for that.
I think you can get 0.8240 for it.
  • #100,503
  • Aug 16, 2011 7:18pm Aug 16, 2011 7:18pm
Quoting Bemac
I, initially erred & said "Seller" when I meant "Buyer". I corrected it but you apparently quoted it Before I corrected My post.
To Readers:
I believe Frxter is playing the Long side.

B
LOL... this is what happened. When I first viewed ur post there was no line asking if I was a buyer or seller. See screenshot below. But, the moment I hit the Quote button, obviously ur edit was saved and I ended up quoting the 'Seller' bit. I noticed that first line after a while and thought it best to leave my post untouched. Thanks for clarifying that bit.

Attached Image (click to enlarge)
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  • #100,504
  • Aug 16, 2011 7:21pm Aug 16, 2011 7:21pm
Quoting Bemac
I think you can get 0.8240 for it.
TP changed to .8240. Thank u, Sire.
  • #100,505
  • Aug 16, 2011 7:59pm Aug 16, 2011 7:59pm
Quoting Bemac
I think you can get 0.8240 for it.
Looks like there is some resistance at .7930
  • #100,506
  • Edited 9:04pm Aug 16, 2011 8:09pm | Edited 9:04pm
Nice looking PB. Let's see if it breaks.
Got my apartment sorted out and the fiber optic connection installed.

Interesting view of the city from my apartment, maybe Bmac will be interested in how Harbin has changed of the last few years.
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  • #100,507
  • Edited 9:43pm Aug 16, 2011 8:57pm | Edited 9:43pm
Quoting Pip_Predator
Waiting for EURUSD reaction at 1.44 (res last 3 times, RN)
Hey PP.

One thing great about a strong Support (or Resistance) level is that when they fail to acted as Support (or Resistance), they will usually revert back their previous Resistance (or Support) status.

I use the Close of Price to confirm this transition from Resistance to Support or Support to Resistance.

Take the 1.44 level you mentioned . .a good previous Resistance level.

Once Price Broke Through & Closed above this level (1.4400), I too would consider this level to be Support from previous Resistance confirming this with the Close Above this level.

But If Price fails to act as Support and Price Breaks Through and Closes Below this level, it reverts back to Resistance.

Here is the Hourly and 4 Hour perspective . .both valid setups . .and their targets were hit nicely.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #100,508
  • Edited 9:23pm Aug 16, 2011 9:03pm | Edited 9:23pm
Quoting Pinbar
Nice looking PB. Let's see if it breaks.
Hey Pinbar . how did the move go? . .

Gbp/Nzd:
Weekly BUOB : Great Size, Great Location.

Weekly PB : Great Size, Bad Location.

Weekly BUOB : Wins . . and is still winning . .

How about the Eur/Cad . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #100,509
  • Aug 16, 2011 9:10pm Aug 16, 2011 9:10pm
Quoting mojo6911
Looks like there is some resistance at .7930
Yep. I agree & in post # 100517 you can see it as a red dashed line that is Bear Diag Offence #1.
I also suspect there will be a Bear Push @~ 0.8080 on the Bull Diag Def #13.
I expect both to fail as the Golden Diag plays Trumps.
0.8245 is where I expect a fight. Battle...

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B
  • #100,510
  • Aug 16, 2011 9:12pm Aug 16, 2011 9:12pm
Quoting jarroo
Hey Pinbar . how did the move go? . .

Gbp/Nzd:
Weekly BUOB : Great Size, Great Location.

Weekly PB : Great Size, Bad Location.

Weekly BUOB : Wins and is still winning . .

How about the Eur/Cad . .

Jim
The move was hectic but, we are getting things sorted out.
Nice pad, brand new on the 21st floor.

Hmm, I was thinking the BUEOB hit its target at the bottom of the consolidation.
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  • #100,511
  • Aug 16, 2011 9:20pm Aug 16, 2011 9:20pm
Quoting Pinbar
The move was hectic but, we are getting things sorted out.
Nice pad, brand new on the 21st floor.

Hmm, I was thinking the BUEOB hit its target at the bottom of the consolidation.
Yes ..absolutely it hit its target . .nice . .

But it looks like she's got more momentum in her . .the power of Size and Location.

I like to see some bearish PA at the 2.0 BRN . .lining up nicely with the Weekly LCS level. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #100,512
  • Aug 16, 2011 9:51pm Aug 16, 2011 9:51pm
Hi Folks,

Here's a chart I am looking at. Seems to have a nice pinbar on my feed. I believe it has broken too. However, would this be considered a good Long trade off the weekly chart? I believe we have a strong PPZ at BRN 90 level. So, do I wait for bullish PA that closes above 90 level OR would it have been a good long trade when the pinbar broke? Ur thoughts, plz?

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  • #100,513
  • Aug 16, 2011 9:54pm Aug 16, 2011 9:54pm
Quoting Frxter
Hi Folks,

Here's a chart I am looking at. Seems to have a nice pinbar on my feed. I believe it has broken too. However, would this be considered a good Long trade off the weekly chart? I believe we have a strong PPZ at BRN 90 level. So, do I wait for bullish PA that closes above 90 level OR would it have been a good long trade when the pinbar broke? Ur thoughts, plz?

looks like a nice long to me. Play off the weekly base it off the weekly. Look at the two bar lows, that's our first trouble area(FTA)

Mike
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  • #100,514
  • Aug 16, 2011 9:57pm Aug 16, 2011 9:57pm
Quoting Frxter
Hi Folks,

Here's a chart I am looking at. Seems to have a nice pinbar on my feed. I believe it has broken too. However, would this be considered a good Long trade off the weekly chart? I believe we have a strong PPZ at BRN 90 level. So, do I wait for bullish PA that closes above 90 level OR would it have been a good long trade when the pinbar broke? Ur thoughts, plz?

I like the long trade when the PB broke. Target at the previous bar Lows (in Blue ) and/or the 90.00. At a Swing Low and not bad Size and not bad Space .. .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #100,515
  • Aug 16, 2011 9:59pm Aug 16, 2011 9:59pm
Quoting mbqb11
looks like a nice long to me. Play off the weekly base it off the weekly. Look at the two bar lows, that's our first trouble area(FTA)

Mike
I owe you a Coke, Mike . . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,516
  • Aug 16, 2011 10:04pm Aug 16, 2011 10:04pm
Quoting jarroo
I owe you a Coke, Mike . . .
I'd say were even over the years
  • #100,517
  • Aug 16, 2011 10:05pm Aug 16, 2011 10:05pm
Quoting mbqb11
I'd say were even over the years

I think I owe you a few cases, Mike . . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,518
  • Aug 16, 2011 10:05pm Aug 16, 2011 10:05pm
Quoting jarroo
I owe you a Coke, Mike . . .
Fkuc it. I'll buy you a Single Malt from the Top Shelf. I owe it (and many more) to you from a Long time ago.

JJ (Jim Jarroo)
(Most) Indicators show the past.
Price Action "Indicates" the future.

B
  • #100,519
  • Aug 16, 2011 10:11pm Aug 16, 2011 10:11pm
Quoting Bemac
Fkuc it. I'll buy you a Single Malt from the Top Shelf. I owe it (and many more) to you from a Long time ago.

JJ (Jim Jarroo)
(Most) Indicators show the past.
Price Action "Indicates" the future.

B
Any time, my friend.

What??!! I have to change my signature??

Remember . .this signature came from you, Mr. B-Mac . .

The Wizard has me convinced that PA "shows the past", since my S/R trading. . .time for an update . . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,520
  • Aug 16, 2011 10:12pm Aug 16, 2011 10:12pm
Quoting mbqb11
looks like a nice long to me. Play off the weekly base it off the weekly. Look at the two bar lows, that's our first trouble area(FTA)

Mike
Thanks, Mike. I am taking ur advice and looking at instruments other than Forex.

OK, with this move, it looks like we're targetting ~250 pips (87 to 89.5). Is that correct? On a related note, another noob question coming up.... what would be considered a reasonable pip figure to target? I understand it depends on volatility, capital invested and therefore, position size, etc. But, should I work out the average pip move per week for the past x number of weeks and then decide to enter a trade? What is ur thought process in deciding whether to enter a trade if the setup is good?
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