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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

  • #101,121
  • Aug 31, 2011 4:42am Aug 31, 2011 4:42am
Quoting ghous
hey Genius,

The best part of that trade in my honest opinion was the fact that it was a touch trade off a solid resistance area. Henceforth you're in the green merely because the resistance "held".

Taking a pin bar short here would not have been a very good idea (at the first glance of your post I thought you had shorted the break of the pin bar/doji)

We're operating at the brink of consolidation box breakout. Why? Look at the last 2 bar highs on the daily that have created the resistance. Strong bounce on both right? Look at the recent...
hello,ghous. thank you very much for your reply first .and it had hit my SL @ 0.8855(+16pips). actually ,i shorted it yesterday .and you are right ,it is the S&R zone .but i prefer to see if we can break 0.8890,or i will not long it .however ,give my best wishes to you ,good luck ,
A chart helps those who can read it.
  • #101,122
  • Aug 31, 2011 4:44am Aug 31, 2011 4:44am
Quoting mmikemj
Thank you ghous,and genius, for posts 101138/39
these are the kind of posts that I learn a heck of a lot from
mike
as @ Pinbar said ,we are all here for helping each other . have a good day .
A chart helps those who can read it.
  • #101,123
  • Aug 31, 2011 4:47am Aug 31, 2011 4:47am
Quoting snowly
3 days, 3 touches... and the 2 fibos at .884-5 providing daily support.

I've closed my short. Was fun on monday, doesn't seem so anymore; maybe I'm wrong(but I think I'll have lower chance to close at be if it breaks, so...).
in my opinion, even BE is also a very good result . and i only get 16 pips ,too .but ,,,,,,,,,,,lets do the next one .
A chart helps those who can read it.
  • #101,124
  • Aug 31, 2011 6:59am Aug 31, 2011 6:59am
EUR/GBP
Here comes the retest of the support area on H4.
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  • #101,125
  • Edited Sep 1, 2011 6:47am Aug 31, 2011 7:20am | Edited Sep 1, 2011 6:47am
Hi guys
Any good place to start reading the thread. This is more than 6k pages,, so can some one advise if there is summarize section on this thread,

Thanks in advance
  • #101,126
  • Aug 31, 2011 7:49am Aug 31, 2011 7:49am
I'm tentatively try to enter a small short again on that h4 pin...

hmm, still dubious. Maybe it'll hold; or maybe I won't be filled

problem still is 12-14 pips with spread(trying to get in ~.857) till fta... Well, gotta love these ugly contests
  • #101,127
  • Aug 31, 2011 7:56am Aug 31, 2011 7:56am
Quoting snowly
I'm tentatively try to enter a small short again on that h4 pin...

hmm, still dubious. Maybe it'll hold; or maybe I won't be filled

problem still is 12-14 pips with spread(trying to get in ~.857) till fta... Well, gotta love these ugly contests

I would watch it, trying to short this strong uptrend on that H4 pin going right into this support area which it is trying to test.
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  • #101,128
  • Aug 31, 2011 8:02am Aug 31, 2011 8:02am
aye, that's the reason I've dropped the previous entry at .8874

hence not willing to bet too much; but meh... scalping .884 - .886 can give you an occupation I suppose.

and usd/chf reaching .80; good confluence with previous daily channel ~0.799...
  • #101,129
  • Aug 31, 2011 8:03am Aug 31, 2011 8:03am
Took one based on strong trend, IB with lots of confluence and of course important Pivot.
Feedback apreciated
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Every bar tells a tale
  • #101,130
  • Aug 31, 2011 8:06am Aug 31, 2011 8:06am
Quoting snowly
aye, that's the reason I've dropped the previous entry at .8874

hence not willing to bet too much; but meh... scalping .884 - .886 can give you an occupation I suppose.

and usd/chf reaching .80
Don't want to be scalping into a weekly flip area.
Ghous did not have a buy order there for no reason.
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  • #101,131
  • Aug 31, 2011 8:09am Aug 31, 2011 8:09am
yep - .884 - .855 is the area

usd/chf broke .8; hmm. Yet cad/jpy moves up
  • #101,132
  • Aug 31, 2011 8:10am Aug 31, 2011 8:10am
Quoting Pinbar
Don't want to be scalping into a weekly flip area.
Ghous did not have a buy order there for no reason.
Imo this level has been now sloshed too many times to be considered a strong flip area. From weekly perspective you can pinpoint a resistance @ 0.8880.
  • #101,133
  • Edited 9:21am Aug 31, 2011 8:14am | Edited 9:21am
kinda held...

I'm going into a probably crappy chicago pmi with a long usd/chf. It's pretty stupid.


p.s - anyway, never filled up on that e/g and ship definitely left. Oh well, can't have them all...
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  • #101,134
  • Aug 31, 2011 8:49am Aug 31, 2011 8:49am
As for now (2.45pm London) 0.8880 level stays upheld and EURGBP is heading down to 0.8820 (PINK LINE) zone.
This would be a battlefield for bulls & bears and it’ll probably set up a new trend for rest of the week.

This level is very important.
a) If 0.8820 breaks we will have pretty nice double top with green lights opened to see next targets below @ 0.8700 (RED LINE)

b)If sustains we can start thinking about levels above 0.8880 (GREEN) but first 0.8900 has to be taken.
If broken, there's a massive amount of bears stop-loss orders above 0.8900 so it can be a very dynamic move.


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Read Charts - Not Papers
  • #101,135
  • Aug 31, 2011 8:56am Aug 31, 2011 8:56am
whoa, life is so simple...
  • #101,136
  • Aug 31, 2011 9:03am Aug 31, 2011 9:03am
Quoting vibe7
Hi guys
Any good place to start reading the thread. This is more than 6k pages,, so can some one advise if there is summarize section on this thread,
Thanks
Hey Vibe

Welcome

The first post by James is filled with tons of good info and some great links. But I would read the first few hundred pages(a lot you can skim and will be able to see that as you go). But be sure to pay very close attention to all of James16 posts

It's big but well worth it

Best
Mike
  • #101,137
  • Aug 31, 2011 9:21am Aug 31, 2011 9:21am
A little off topic but does anyone have problems connecting to MT5 demo server? Its been down all week and Im tired of looking at free flash charts on the net.
  • #101,138
  • Aug 31, 2011 9:35am Aug 31, 2011 9:35am
make a demo acct. somewhere? you should get mt4 on most brokers(no clue what's the diff. between 5 and 4, I live fine with 4 - a line is a line, ain't that complicated).

but web flash based charts are the recipe to unbelievable annoyance(I know, I never managed to convince parallel desktop to run mt4 on mac, so each time I'm on my wife's laptop, I'm with flash web charts and each time I'm close to exploding and I just give up and try to remember the levels mentally...).
  • #101,139
  • Aug 31, 2011 9:36am Aug 31, 2011 9:36am
Quoting Greenhaze
This one looks very interesting for number of reasons.
Bounced almost to the pip. :=)
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  • #101,140
  • Aug 31, 2011 9:53am Aug 31, 2011 9:53am
Quoting AvanishDemo
i did not read your post properly..
later i realise u had a buy position..wch amazed me y wuld u buy in sch a strong resistance area..
thanks for sharing..keep posting such "before-breakout" trades ...
It was a 4H pin bar trade off the 21 EMA (Constrictor system ET3) for the reasons I mentioned in my post.



g.
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I believe . . .
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