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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

  • #100,761
  • Aug 22, 2011 6:46am Aug 22, 2011 6:46am
Quoting teemo
It's a really good vid PB!
t
Hi T

You mean Jim's video in the guest area?

Yeah, that is a great video.
  • #100,762
  • Aug 22, 2011 6:54am Aug 22, 2011 6:54am
Sorry I was so vague PB - slow Monday start
I watched & bookmarked a couple of video's of yours on youtube earlier which I liked.


Quoting Pinbar
Hi T

You mean Jim's video in the guest area?

Yeah, that is a great video.
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #100,763
  • Aug 22, 2011 6:57am Aug 22, 2011 6:57am
Quoting Greenhaze
Now that is a good week start ..... with buy limit missed by 2 pips LOL
These are turning into my favourite kinds of setups - sorry you missed it, next one is just round the corner though
Anything can happen.
  • #100,764
  • Aug 22, 2011 7:20am Aug 22, 2011 7:20am
Quoting 5.25
Looks good to me I'll be watching to see if that level now holds as support.
Nice bounce off former Support. Partial profits at 1.7600, stopped out at BE. Good for 80 odd pips
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  • #100,765
  • Aug 22, 2011 9:12am Aug 22, 2011 9:12am
chart I am watching

price is rounding(which in turn will be divergence) off here around the BRN . Good area to watch
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  • #100,766
  • Aug 22, 2011 12:42pm Aug 22, 2011 12:42pm
Quoting mbqb11
chart I am watching

price is rounding(which in turn will be divergence) off here around the BRN . Good area to watch
Similar story on the CADCHF around the .8 BRN. Also EUR&GBPCHF by the looks of things..

I quite like the GBPCHF though as it's also at a previous strong support zone
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  • #100,767
  • Aug 22, 2011 2:23pm Aug 22, 2011 2:23pm
There is a BEOB on GBPNZD.
Off from BRN of 2.00
Weekly pivot of 2.00
FTA 100 pips away

Thanks,
Vinay
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  • #100,768
  • Aug 22, 2011 2:57pm Aug 22, 2011 2:57pm
Quoting stark1
Anyone else eyeing GBPAUD daily? I'm liking the previous S/R, plus it's at the 38 fib, 1.58 RN, with my MACD slowly making its way up. No PA so far...

Edit: I know I'm fighting the trend, but that big weekly pin doesn't seem to be doing much.

Looks to be a somewhat interesting area. Quality of the PA formation and the close would be a higher than usual importance to me. Good luck.

Ryan
  • #100,769
  • Aug 22, 2011 3:42pm Aug 22, 2011 3:42pm
Quoting 5.25
Nice bounce off former Support. Partial profits at 1.7600, stopped out at BE. Good for 80 odd pips
Did you enter on a touch? or lower TF PA?
  • #100,770
  • Aug 22, 2011 4:08pm Aug 22, 2011 4:08pm
Quoting vinayn
There is a BEOB on GBPNZD.
Off from BRN of 2.00
Weekly pivot of 2.00
FTA 100 pips away

Thanks,
Vinay
though BEOB is small but i think it wuld hav been interesting had the BEOB CB 1.99..
as Jarroo speaks abt HCR,LCS...
here we have streak of 4 bars(as marked by orange lines)...which is forming a HCR @ 1.99..

so though we have 2.0BRN..my concern is 1.99 as BEOB is sitting exactly on 1.99
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  • #100,771
  • Aug 22, 2011 4:12pm Aug 22, 2011 4:12pm
Quoting AvanishDemo
though BEOB is small but i think it wuld hav been interesting had the BEOB CB 1.99..
as Jarroo speaks abt HCR,LCS...
here we have streak of 4 bars(as marked by orange lines)...which is forming a HCR @ 1.99..

so though we have 2.0BRN..my concern is 1.99
Yes you are right. I was also hoping for a close below 1.99. Didn't happen. So passed on. No trades for me today.
  • #100,772
  • Edited 5:45pm Aug 22, 2011 5:12pm | Edited 5:45pm
Hi

This is my first post on this forum. I have been trading unprofitably for 3 years and have just joined James16. I am looking for the next Daily PB opportunity to present itself, at time of writing it is 23.00 London time and my Daily candles (FXCM feed) close at 01.00 London time. I would welcome any feedback from anyone on my rationale for this trade. There are 2 hours left until the candle close so depending on the PA in the next 2 hours this may affect the trade. Please see the 2 attached charts.

So starting with the PB itself it is certainly not an A+, (bearing in mind that the previous bar is the Sunday bar on my feed I am ignoring it), I would have liked to see the nose a little longer and the open and close of the bar in the bottom 3rd. The PB is off a RN and previous PPZ plus confluence of FIB 50. You can also see the divergence on the H4 chart.

If I take the trade I plan to take the entry point on a break of T1 (not the bottom of the PB). This is because T1 is a RN and is only a few pips away and there has been old support at this RN. In an ideal world I would like to move my stop to b/e when I get to T2 and aim to take all of my profit at T3 (T4 is just for illustration purposes).

So I welcome any feedback on this trade.

Also I would like to know how people manage their trades, if I take this trade I can set a stop order to open on the break of T1 however I would have to physically be awake to move my stop to break even at T2 and this could be any time in the middle of the night. I understand I can set up alerts however the prospect of getting an email/text in the middle of the night when I am already sleep deprived due to my baby son isn't great. I understand that it is possible to write an EA in MT4 to handle this however my current broker is IG (FXCM MT4 demo feed). How do others handle this as I can see it happening a lot.

All help appreciated.http://www.james16group.us/forums/im...rn/biggrin.gif
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  • #100,773
  • Aug 22, 2011 5:13pm Aug 22, 2011 5:13pm
my kids are back in school and its back to "work".

My charts have been pretty ugly as far as great set ups.

Anyone disagree?

Jim
  • #100,774
  • Aug 22, 2011 5:21pm Aug 22, 2011 5:21pm
Quoting james16
my kids are back in school and its back to "work".

My charts have been pretty ugly as far as great set ups.

Anyone disagree?

Jim
Really wish that it was otherwise, but I would have to agree with you with respect to so few setups. I have only taken one trade so far this month and it turned into a loss. There is just so much static in the stories that the charts are presenting for me.

Ryan
  • #100,775
  • Aug 22, 2011 5:27pm Aug 22, 2011 5:27pm
Quoting TransPorter
Did you enter on a touch? or lower TF PA?
Hey TransPorter,

This was on a touch based on the HCR off the daily time frame.

I'm still finding my way so I thought I'd put more emphasis on S/R.
Goes to show how important strong levels are (and I don't even consider this to be the strongest). Interesting how this level continues to be respected on the lower time frame even when it's now flipped to resistance.

T
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  • #100,776
  • Aug 22, 2011 5:31pm Aug 22, 2011 5:31pm
Quoting james16
my kids are back in school and its back to "work".

My charts have been pretty ugly as far as great set ups.

Anyone disagree?

Jim
Couldn't agree more! Glad to see you back. Hope all is well
  • #100,777
  • Aug 22, 2011 6:15pm Aug 22, 2011 6:15pm
Quoting 5.25
Hey TransPorter,

This was on a touch based on the HCR off the daily time frame.

I'm still finding my way so I thought I'd put more emphasis on S/R.
Goes to show how important strong levels are (and I don't even consider this to be the strongest). Interesting how this level continues to be respected on the lower time frame even when it's now flipped to resistance.

T
Thanks T. In my case i was waiting for a decent bullish PA in H4 and H1. Nice trade!!!
  • #100,778
  • Aug 22, 2011 6:27pm Aug 22, 2011 6:27pm
Quoting james16
my kids are back in school and its back to "work".

My charts have been pretty ugly as far as great set ups.

Anyone disagree?

Jim
Hey Jim great to see you back . .


Many of us want to know the big question about you . . .


How are you feeling ? . . . . .
Indicators show the past. Price Action "Indicates" the future.
  • #100,779
  • Edited 8:11pm Aug 22, 2011 6:48pm | Edited 8:11pm
Quoting geniusztc
so ,my plan is long @ 0.9850 ,and SL @9750,TP may be @ 0.9980 area .

and if we go to the h4 chart ,we can see the same thing .

Quoting geniusztc
OK, BOTH AUDUSD AND USDCAD HIT MY STOP LOSS .BREAK EVEN .the next ......

You nailed that level on the Usd/Cad, geniusztc . .

Using the previous bar Highs on the Daily as targets, you should have captured some nice profit.

Managing a trade with targets is a must for me . .sure we want it to go to the moon, but we want to take or protect profits along the way . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #100,780
  • Aug 22, 2011 7:02pm Aug 22, 2011 7:02pm
Quoting james16
my kids are back in school and its back to "work".

My charts have been pretty ugly as far as great set ups.

Anyone disagree?

Jim
Hey ya OLDE ... Only as old as you feel. Never trust a Fart & never pass a batrhoom break. Believe me. Rules to live by.

Glad don't cut it. Happy to see you back. Now... Git at it I, for one, am interested in your Take of the Market.
comeback Jimbo.

Bro B
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