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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

  • #100,621
  • Aug 18, 2011 5:53am Aug 18, 2011 5:53am
hey ghous!

i don't want to stress you but can you tell me what do you think about this one? also the size looks good to me

ps: in this case if i would take this setup should i enter on the break of the low of the ipb?
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  • #100,622
  • Aug 18, 2011 6:27am Aug 18, 2011 6:27am
Hi folks,

Gold... no PA but shooting up.

Questions:
- How do we trade this?
- Was that a Fibo retrace at 50ish?




PS: Chart is from demo account. Wish it was my live account I entered this as a 'no-brainer trade' - one where u just see it shooting up and buy in.
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  • #100,623
  • Aug 18, 2011 6:46am Aug 18, 2011 6:46am
Quoting Chelski
Thanks,

I thought you were trading lower TF. (not for me yet!) But now Daily had taken out this level i can look for action here?

Well it is a Weekly level that I traded on the Hourly . .so Yes I guess it is a lower TF trade because I did use the Hourly PBT&CA,

Well now we have the Daily that Closed Above our Weekly Resistance level. I view this level now as Support.

I like the Highs (again) more so then the HCR because they are muliple Highs that are lining up. .Strength . not a bad Touch Trade there (again)

A more confirming setup would be some nice Daily (or 4 Hour) Bullish PA at this level. . .with their Close above this level.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #100,624
  • Aug 18, 2011 7:02am Aug 18, 2011 7:02am
Quoting jarroo
Well it is a Weekly level that I traded on the Hourly . .so Yes I guess it is a lower TF trade because I did use the Hourly PBT&CA,

Well now we have the Daily that Closed Above our Weekly Resistance level. I view this level now as Support.

I like the Highs (again) more so then the HCR because they are muliple Highs that are lining up. .Strength . not a bad Touch Trade there (again)

A more confirming setup would be some nice Daily (or 4 Hour) Bullish PA at this level. . .with their Close above this level.

Jim
Targets would be previous bar Highs and Lows . .The Highs in this case.

I also like the High and Close of the bar that PBT&CA as targets. Notice that Close of that bar lines up with the previous bar high . .interesting . .
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Indicators show the past. Price Action "Indicates" the future.
  • #100,625
  • Aug 18, 2011 7:06am Aug 18, 2011 7:06am
Gotta go guys .

later,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #100,626
  • Aug 18, 2011 7:13am Aug 18, 2011 7:13am
The Plot thickens, as they say.

Wow, I think Jim is finally managing to open my eyes to the weekly TF.
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  • #100,627
  • Aug 18, 2011 7:33am Aug 18, 2011 7:33am
Hi to all!
I'm new around here at least according to the post count...
Been following the thread and I am now convinced that I will never find anything more reliable than PA setups. This thread was the only reason why I finally decided to join FF. Keep up the good work everyone!!
Below is an entry I made, some comments would be greatly appreciated(would you have taken, if not why etc.)

Nice day to all!!
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Every bar tells a tale
  • #100,628
  • Aug 18, 2011 8:21am Aug 18, 2011 8:21am
Quoting ColdLogic
Hi to all!
I'm new around here at least according to the post count...
Been following the thread and I am now convinced that I will never find anything more reliable than PA setups. This thread was the only reason why I finally decided to join FF. Keep up the good work everyone!!
Below is an entry I made, some comments would be greatly appreciated(would you have taken, if not why etc.)

Nice day to all!!
hello,cold. it is important that, no matter demo or live ,we should treat it as live account .so every trade need REASON or IDEA of yourself .first ,tell pros like JIM or PINBAR your mind ,then they can help you improve . good luck to you .
A chart helps those who can read it.
  • #100,629
  • Aug 18, 2011 8:27am Aug 18, 2011 8:27am
Quoting geniusztc
hello,cold. it is important that, no matter demo or live ,we should treat it as live account .so every trade need REASON or IDEA of yourself .first ,tell pros like JIM or PINBAR your mind ,then they can help you improve . good luck to you .

Ahem, I think PINBAR is a minor here.
  • #100,630
  • Aug 18, 2011 8:35am Aug 18, 2011 8:35am
Quoting Pinbar
Ahem, I think PINBAR is a minor here.
ok, for somebody you are minor ,but for others ,you may be a good teacher .
A chart helps those who can read it.
  • #100,631
  • Aug 18, 2011 8:40am Aug 18, 2011 8:40am
Quoting Pinbar
The Plot thickens, as they say.

Wow, I think Jim is finally managing to open my eyes to the weekly TF.
That is a very good level and it was a nobrainer TT short on the previous touch but this time it might be a little trickier. Keep in mind that fib50 confluence wont be there if you'll use the fib from the top of the swing. Pinbar with long nose above that level would be nice but that almost never happens

All the best
  • #100,632
  • Aug 18, 2011 8:47am Aug 18, 2011 8:47am
Quoting jc.
hey ghous!

i don't want to stress you but can you tell me what do you think about this one? also the size looks good to me

ps: in this case if i would take this setup should i enter on the break of the low of the ipb?
Hey jc,

Your questions will not put me in distress...trust me.

That's the very IPB we are discussing. Read my response in post number 100625

If you had taken this trade your entry would be on the close of the bar, stop above the high of the IPB and TP (or first profit area) at the low of the IPB.

cheers,

g.
I believe . . .
  • #100,633
  • Aug 18, 2011 9:23am Aug 18, 2011 9:23am
hey folks - just putting this out there... but something is going on with the ftse! I know there is a while before this actually forms but its a beauty on the 5min up to the 30min. was short just before the gap and break but now lining up what to do if this works...
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  • #100,634
  • Aug 18, 2011 9:25am Aug 18, 2011 9:25am
Quoting ColdLogic
Hi to all!
I'm new around here at least according to the post count...
Been following the thread and I am now convinced that I will never find anything more reliable than PA setups. This thread was the only reason why I finally decided to join FF. Keep up the good work everyone!!
Below is an entry I made, some comments would be greatly appreciated(would you have taken, if not why etc.)

Nice day to all!!
Hey CL

Welcome to the thread firstly. Glad to have ya

Be sure to follow post one very closely, including starting on the daily/weekly this will start to build a strong foundation one needs.

In this case here you are trying to combine 2 bars that are very very small. Zoom your chart out a bit and it will be easier to see. If you just think about these two bars from a very basic broad standpoint what has occurred? Not much right. jUst a small down then up bar. THat is rarely for anyone I know enough reason to pull the trigger(if we are being patient and picky). Irregardless if it worked or not, we want to be taking the best setups. Go through slowly James16 posts and notice the level of pickiness he is trying to apply. The so-so ones can work too, but when you can wait for the good ones your chance of success is so much more greatly increased in my eyes in the long run

Again welcome
Mike
  • #100,635
  • Aug 18, 2011 9:29am Aug 18, 2011 9:29am
Quoting salisa
hey folks - just putting this out there... but something is going on with the ftse! I know there is a while before this actually forms but its a beauty on the 5min up to the 30min. was short just before the gap and break but now lining up what to do if this works...
I'm on it. Mind that minor flip at about 5170.
When the going gets weird, the weird turn pro.
  • #100,636
  • Aug 18, 2011 9:31am Aug 18, 2011 9:31am
ok 30 min didn't quite form... hold iiiiiitttt
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  • #100,637
  • Aug 18, 2011 9:35am Aug 18, 2011 9:35am
Quoting salisa
ok 30 min didn't quite form... hold iiiiiitttt
When the going gets weird, the weird turn pro.
  • #100,638
  • Aug 18, 2011 10:01am Aug 18, 2011 10:01am
the hour pin is very very close - treading with care!
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  • #100,639
  • Aug 18, 2011 10:15am Aug 18, 2011 10:15am
Quoting jarroo
Very nice . . . .see, you only need to trade once a month . .

thanks pal
Yes I am working on that, i can do with low risk, so one a month aint going to break the bank..but am working on increasing the risk more

as funny as that sounds

thanks man!!..yur also a great help
  • #100,640
  • Aug 18, 2011 10:15am Aug 18, 2011 10:15am
Quoting ghous
Hey jc,

Your questions will not put me in distress...trust me.

That's the very IPB we are discussing. Read my response in post number 100625

If you had taken this trade your entry would be on the close of the bar, stop above the high of the IPB and TP (or first profit area) at the low of the IPB.

cheers,

g.

thank you ghous! i missed that post
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