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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

  • #102,001
  • Sep 21, 2011 2:31am Sep 21, 2011 2:31am
Quoting Pinbar
Nothing escapes Jarroo's attention. LOL

I imagine you also took that one , Jarroo?
Quoting Donkey
I caught a little piece of that one.

http://www.forexfactory.com/showthre...02#post4944202

Confluences that line up with these levels tend to stand out over time, Pb.

Yeah I remember that one Donkey . .the FxPro feed had a similar look put with the 365 ema at the LCS level . . .I got out with most of the position at the targets, though . . ..trade management on the lower TFs off Daily levels have their pitfalls. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #102,002
  • Sep 21, 2011 2:46am Sep 21, 2011 2:46am
I made a buy attemp on EURGBP 4H engulfing bar (0.8735). Stop is at the low of the bar.
  • #102,003
  • Sep 21, 2011 2:48am Sep 21, 2011 2:48am
Quoting Pinbar
Hi, and welcome.

I am not sure what PA setup you are talking about as, I do not see any PA setups in this area. I hope you are not talking about going short because, if we look at the weekly Time frame, we can see a ton of former resistance at this area where price, may reverse and go North.

Also, I am not sure if you know but, looking at your chart, it looks very cramped because you have all the buttons on the left hand side and it makes the viewable area of the chart too small.

You can drag all those icons and bars to the top of the frame...
Thanks PB, noob error, I was 'blinded' by price compressing down onto 1.02 and never checked for the obvious support just below it on the weekly
  • #102,004
  • Sep 21, 2011 2:54am Sep 21, 2011 2:54am
Quoting Lanes110
I made a buy attemp on EURGBP 4H engulfing bar (0.8735). Stop is at the low of the bar.
Is that not buying at a major PPZ zone?
  • #102,005
  • Sep 21, 2011 2:54am Sep 21, 2011 2:54am
good day pin.

what indicator do u use for your round numbers. and would u kindly please share it with us ,,,, ciao ciao and have a nice day
  • #102,006
  • Sep 21, 2011 2:55am Sep 21, 2011 2:55am
Quoting stochman
Thanks PB, noob error, I was 'blinded' by price compressing down onto 1.02 and never checked for the obvious support just below it on the weekly

Not at all, we have all been there and done that.
You are not alone.

I was more worried about how you have MT4 so compressed.

By the way, I think you are using prntscreen to make a screenshot when you post images.
You don't need to do that, just right click on the chart you want to make the image of and put a check in the box as in the screenshot, and save it to your desktop. This way, your account number will not show at the top of MT4. Demo is ok, but you should not post any live account number on a public forum like that.
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  • #102,007
  • Sep 21, 2011 3:01am Sep 21, 2011 3:01am
Quoting Pinbar
Not at all, we have all been there and done that.
You are not alone.

I was more worried about how you have MT4 so compressed.

By the way, I think you are using prntscreen to make a screenshot when you post images.
You don't need to do that, just right click on the chart you want to make the image of and put a check in the box as in the screenshot, and save it to your desktop. This way, your account number will not show at the top of MT4. Demo is ok, but you should not post any live account number on a public forum like that.
Thanks again PB, I've sorted my screen out now and yes I did upload it incorrectly, it's a long time since I've posted a chart
  • #102,008
  • Sep 21, 2011 3:02am Sep 21, 2011 3:02am
Hello,

I do not know what do you mean by PPZ, but there was a prior consolidation between 0.8675 and 0.8725 and now we are above it with an engulfing bar. That was my reasoning.

Quoting stochman
Is that not buying at a major PPZ zone?
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  • #102,009
  • Sep 21, 2011 3:03am Sep 21, 2011 3:03am
Quoting extremerrage
good day pin.

what indicator do u use for your round numbers. and would u kindly please share it with us ,,,, ciao ciao and have a nice day

It is sweet spots gold that I modified.

Here you go. You have to play around with the "Shift Lines" setting, depending on what screen resolution and chart zoom size.

I use the 20 setting.
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Attached File(s)
File Type: ex4 SweetSpotsGold.ex4   5 KB | 366 downloads
  • #102,010
  • Sep 21, 2011 3:10am Sep 21, 2011 3:10am
Quoting Lanes110
Hello,

I do not know what do you mean by PPZ, but there was a prior consolidation between 0.8675 and 0.8725 and now we are above it with an engulfing bar. That was my reasoning.

He means this PPZ that has confluence with the 150 EMA and the 0.8750 area & the fibo.


Somebody once told me, 'When in doubt, Zoom Out".
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  • #102,011
  • Sep 21, 2011 3:26am Sep 21, 2011 3:26am
Thank you for the explanation.

Quoting Pinbar
He means this PPZ that has confluence with the 150 EMA and the 0.8750 area & the fibo.


Somebody once told me, 'When in doubt, Zoom Out".
  • #102,012
  • Edited 4:39am Sep 21, 2011 4:24am | Edited 4:39am
Quoting Adilius07
I appologize, but I really don't understand what is so fantastic ....
I apologize, but I really don't understand what is so fantastic about this entry? Shorting at a Resistance level.

Where is the setup? Support level turning into a Resistance level at a strong PPZ level. Support turning into Resistance (and vice versa) is a very common market dynamic . .I like using PBT&CAorB to confirm this transition.

Trendline is not valid, its weird and wrong to put it there. I agree, not the clearest trendline. Odder still is that James16 doesn't use trendlines. He probably drew it to show additional confluence and that others in this thread use trendlines as confluence.

Fibo - if you draw it the other way around that would be shorting into great 50% fibo retracement SUPPORT. You lost me on this one . .is it this 50% fib in blue? Fib levels, like trendlines, are confluencing tools. I don't see any S/R level that this confluences with. Fib levels, by themselves, have little strength (also with trendlines). also its about 80 pips away, btw.

Where is the bar confirming strenght Pinbar, BEOB, TBHLC? He stated that there was "no pa bar".

Pivot at 6450??? what is so tremendous about it? Those pivots are all over...Really . .all over?? . .Could you show some of these confluenced strong S/R levels please . .I must have missed some setups . .


There is nothing fantastic about this setup. I don't think anyone could make a successful call in real time with a setup like that. Putting an arrow on the chart with past price action and then adding confluence - that is not the way to learn, and certainly will not benefit us newbies.
I disagree . .seeing these setups after the fact over and over again can only help prepare you to see them before the fact . . and then react. It does take time but soon seeing them deveolp well it advance will really stand out . .especaily the obvious ones.

Just some thoughts my friend . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #102,013
  • Sep 21, 2011 4:31am Sep 21, 2011 4:31am
Quoting Pinbar
Somebody once told me, 'When in doubt, Zoom Out".

Nice one sir. I'll remember that.
When the going gets weird, the weird turn pro.
  • #102,014
  • Sep 21, 2011 4:47am Sep 21, 2011 4:47am
Quoting stark1
Nice one sir. I'll remember that.

No, Sir here Stark1. PB is just fine.
  • #102,015
  • Sep 21, 2011 4:58am Sep 21, 2011 4:58am
Quoting Pinbar
No, Sir here Stark1. PB is just fine.
Noted PB. Cheers anyway.
When the going gets weird, the weird turn pro.
  • #102,016
  • Sep 21, 2011 5:02am Sep 21, 2011 5:02am
I'm liking the look of this. Lots of resistance now at 3.2 for a retrace and some PA. Interesting weekly too - we're on top of a fairly nice looking pinbar that did nothing.
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When the going gets weird, the weird turn pro.
  • #102,017
  • Sep 21, 2011 5:05am Sep 21, 2011 5:05am
For anyone that downloaded the RN indicator I posted.

After you have installed it in MT4, you will see it in the custom indicators directory, not the "indicators" directory.
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  • #102,018
  • Sep 21, 2011 5:24am Sep 21, 2011 5:24am
Looks like this is one of the rare times a PB fails. Hope no one entered on the retrace.

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  • #102,019
  • Sep 21, 2011 5:30am Sep 21, 2011 5:30am
Quoting fascist
Looks like this is one of the rare times a PB fails. Hope no one entered on the retrace.

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Looks like J16 ever taught that trading the PB after it breaks.
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A chart helps those who can read it.
  • #102,020
  • Sep 21, 2011 5:30am Sep 21, 2011 5:30am
Quoting fascist
Looks like this is one of the rare times a PB fails. Hope no one entered on the retrace.

Attachment
Not me, no sir. Ahem.
When the going gets weird, the weird turn pro.
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