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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

  • #101,741
  • Edited 6:38pm Sep 14, 2011 5:54pm | Edited 6:38pm
Quoting 5.25
Same, same, but different.
Hey 5.25 . .many times these LCS/HCR levels at these deep swing points will give up a nice bounce once they are hit for the first time (FTB). This bounce maybe be short lived or go to the moon. but it confirms the level of Support. I do like additional confluences that support these levels to take TT . .but enough to cover your risk is usually the norm ( the risk being a smalll S/L of (30-40 pips).

Now if the bounce is short lived or non-existent as Support . .there is a good chance that Price will break through and close below thus turning the level into Resistance.

Another option is that Price will break through the level (LCS) causing a nice long wick (nose) and not Close below it . .only to return above the LCS and Close above it . .

So Price breaks the LCS level . .fails to Close below it . .and then closes above it . .oh wait . .there is another name for this . .its called a Pin Bar . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #101,742
  • Edited 6:27pm Sep 14, 2011 6:17pm | Edited 6:27pm
Quoting jarroo
Hey 5.25 . .many times these LCS/HCR levels at these deep swing points ...
Thanks for the input Jarroo

I assume you're referring to my euraud post (hence the chart) only you quoted eursgd.

eurcad:
Quoting 5.25
eurcad
eursgd
Quoting 5.25
eursgd
  • #101,743
  • Sep 14, 2011 6:19pm Sep 14, 2011 6:19pm
Quoting 5.25
Thanks for the input Jarroo

I assume you're referring to my euraud post (hence the chart) only you quoted eursgd.

eurcad:
eursgd
oopps . .I corrected that post of yours that I was referring to . .

. .but it can apply to the Eur/Sgd too . .
Indicators show the past. Price Action "Indicates" the future.
  • #101,744
  • Sep 14, 2011 6:26pm Sep 14, 2011 6:26pm
Quoting jarroo
oopps . .I corrected that post of yours that I was referring to . .

. .but it can apply to the Eur/Sgd too . .
Looks like price respected the LCS on eursgd pretty nicely
I assume a DAILY LCS LINING UP with the WEEKLY LCS can add confluence to the level 1.6678?

eursgd
Quoting 5.25
eursgd
T
  • #101,745
  • Sep 14, 2011 6:36pm Sep 14, 2011 6:36pm
Quoting 5.25
Looks like price respected the LCS on eursgd pretty nicely
I assume a DAILY LCS LINING UP with the WEEKLY LCS can add confluence to that level?

T
Absolutely, T.

The more confluences that support a given level or setup the better . .

You'll notice this with many of James16 charts on PA setups. . .he wants at least three or more confluences . .you can't blame him, he's trading with a large account . .he wants many reasons to take a trade before he puts the big money at risk. . .

Then if you add a story that Mike would be proud of . .then we are talking a nice potential long term runner . .
Indicators show the past. Price Action "Indicates" the future.
  • #101,746
  • Sep 14, 2011 7:12pm Sep 14, 2011 7:12pm
Quoting jarroo
These Daily Lows would be the targets (in blue) . .to those that asked . .

These setups have targets just like a James16 PA setup . .Daily Highs and Lows ..usually the most immediate . .(where do you think I got them from . .)

So a Weeky setup will have Weekly targets . .Daily setup will have Daily targets. . .and so on . .

Wow, thanks Jim

I only intended a basic appetizer of your methodology.

You just gave us the Full Course! Now, I am saving the charts and am going to digest is slowly, including the glass of port and the Cuban Cigar, you so kindly included.

Many thanks Jarroo.

Got to run in not so long today.
  • #101,747
  • Sep 14, 2011 7:14pm Sep 14, 2011 7:14pm
Quoting Pinbar
Wow, thanks Jim

I only intended a basic appetizer of your methodology.

You just gave us the Full Course! Now, I am saving the charts and am going to digest is slowly, including the glass of port and the Cuban Cigar, you so kindly included.

Many thanks Jarroo.

Got to run in not so long today.
Keep posting those charts Steve . .they are very good . .I know they take awhile to put together . .so thank you Steve. .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #101,748
  • Sep 14, 2011 7:18pm Sep 14, 2011 7:18pm
Quoting Ifmyante
There's no 'right side' in trading.

There are buyers and sellers.

Your method is absolutely right for trading how you trade.

But:

When you see a pinbar forming, somebody had to make it. That's us.
When price turns back at you at your FTA, that's us.

If you think that us telling you how we trade is a bad thing, that you'd rather not know, just tell me. I'd love to read that in a post.


Best to all

If
I guess you have to define what your FTA or targets . .which I define as the same thing.

As James16 teaches, that once Price reaches our target(s) we must perform an action . .be it taking full profit or partial profits or at least move to B/E.

So I agree with you on this point that others see these levels (targets, FTAs) as potential areas of interest.

Quoting joelcf
I think your problem here stems from presuming to know me, how I trade and what I do or dont know. Or anyone else.

I agree with Joel here, that you are coming across in a way that I think you do not intend, Ifmy.

If you can share more with charts would be great . but keep it simple if you can . .I am of course a simple man . . . .complexity sucks . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #101,749
  • Sep 14, 2011 7:31pm Sep 14, 2011 7:31pm
Watching this level on the Aud/Usd, 1.0185ish. Price doesn't want to stay there very long . .currently acting as Support. . .this may continue . .I'll let where Price closes be my guide . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #101,750
  • Sep 14, 2011 7:42pm Sep 14, 2011 7:42pm
aud/nzd pinbar

1.25 holding
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  • #101,751
  • Sep 14, 2011 7:43pm Sep 14, 2011 7:43pm
Quoting biDc
aud/nzd pinbar

1.25 holding
Looks like a Classic, biDc . . ..
Indicators show the past. Price Action "Indicates" the future.
  • #101,752
  • Sep 14, 2011 8:05pm Sep 14, 2011 8:05pm
Quoting jarroo
Looks like a Classic, biDc . . ..
Everyone loves a classic . .this PB on the Nzd/Chf was a bit more classical . .
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Indicators show the past. Price Action "Indicates" the future.
  • #101,753
  • Sep 14, 2011 8:07pm Sep 14, 2011 8:07pm
Quoting jarroo
Everyone loves a classic . .this PB on the Nzd/Chf was bit more classical . .
WOW! What a pin lol!
  • #101,754
  • Sep 14, 2011 8:29pm Sep 14, 2011 8:29pm
Quoting biDc
WOW! What a pin lol!
That PB was bigger than any other bar on that chart . bearish or bullish . .A Mike classic . .
Indicators show the past. Price Action "Indicates" the future.
  • #101,755
  • Sep 14, 2011 8:31pm Sep 14, 2011 8:31pm
Quoting jarroo
That PB was bigger than any other bar on that chart . bearish or bullish . .A Mike classic . .
a mike classic = so easy a caveman can do it
  • #101,756
  • Sep 14, 2011 8:39pm Sep 14, 2011 8:39pm
Quoting mbqb11
a mike classic = so easy a caveman can do it
Ok maybe this one was a bit bigger . .

but it was the 2nd biggest bar in its entire history . .

I believe this PB will be a good reference when some thinks about taking a small PB . .meaning . . .does that PB look like this one .. or close to it.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #101,757
  • Sep 14, 2011 8:40pm Sep 14, 2011 8:40pm
Quoting jarroo
Ok maybe this one was a bit bigger . .

but it was the 2nd biggest chart in its entire history . .

I beleive this PB will be a good reference when some thinks about taking a small PB . .meaning . . .does that PB look like this one .. or close to it.

all the xxx/chf pins that week were just money in the bank. I can almost think of no easier money lol

  • #101,758
  • Sep 14, 2011 8:44pm Sep 14, 2011 8:44pm
Quoting mbqb11
all the xxx/chf pins that week were just money in the bank. I can almost think of no easier money lol

I think we can forget about the Weekly Cad 2007 PB . .well not totally forget it. .lol . .let's see where the xxx/chf PBs takes us in the next year or so .. .
Indicators show the past. Price Action "Indicates" the future.
  • #101,759
  • Sep 14, 2011 8:57pm Sep 14, 2011 8:57pm
Quoting jarroo
Ok maybe this one was a bit bigger . .

but it was the 2nd biggest bar in its entire history . .

I believe this PB will be a good reference when some thinks about taking a small PB . .meaning . . .does that PB look like this one .. or close to it.
Ok maybe this one too . . .gee, I guess that bullish PB was kinda small . ."psyche" . .just kidding . .lol
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #101,760
  • Sep 14, 2011 9:38pm Sep 14, 2011 9:38pm
it is in my current trading plan to trade no more than 3 times / week, usually i can fill that quota per week no problem.

the question is to mike, or anyone else that wants to chip in, is 3 time / week too much? i only trade the daily or h4 chart, i don't trade straight off the weekly because the pip ranges are way to big. what are your opinions on the frequency of trading?
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