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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

  • #104,101
  • Nov 7, 2011 3:17am Nov 7, 2011 3:17am
Quoting Pinbar
Interesting H4 consolidation boxes.
That 1.6 BRN is sweet . .notice how Price could not Close above that level (your 1st 4 Hour box) Resistance. Then when Price Closed above that level or box it turn into Support (your 2nd 4 Hour box) . .nice.
Indicators show the past. Price Action "Indicates" the future.
  • #104,102
  • Nov 7, 2011 3:23am Nov 7, 2011 3:23am
Quoting Pinbar
Interesting H4 consolidation boxes.
I wanted to ask this to Steve or Jim,

when we take entry on a smaller tf(1 hour, 4 hour, are we looking for confluence there or that’s just a trigger and the confluences are on the main tf(i.e. daily, weekly, monthly)

I understand fibs would be the same on both but EMAs and divergence to name a couple would be different.
Trading is a test match not a Twenty20.
  • #104,103
  • Nov 7, 2011 3:27am Nov 7, 2011 3:27am
Quoting decentchap
I wanted to ask this to Steve or Jim,

when we take entry on a smaller tf(1 hour, 4 hour, are we looking for confluence there or that’s just a trigger and the confluences are on the main tf(i.e. daily, weekly, monthly)

I understand fibs would be the same on both but EMAs and divergence to name a couple would be different.
Mainly just the trigger . preferably PA on the Hour or 4 Hour. but if there is other confluence on that lower TF, all the better.
Indicators show the past. Price Action "Indicates" the future.
  • #104,104
  • Nov 7, 2011 3:28am Nov 7, 2011 3:28am
Full TP. a quick hitter.
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  • #104,105
  • Nov 7, 2011 3:55am Nov 7, 2011 3:55am
Hello guys,

I have seen here few trades taken on wedge breakout. Right now the wedge can be seen on GBP/CHF - price broke trough.
It is possible that the price will break through also on CAD/CHF. How would you manage this trade? My guess is, that it is good to wait how it closes today, if it closes above, it could be opportunity to buy with FTA at BRN 0.9 - which means possible profit about 100pips. I'd say it's a B trade, but I would like to understand better how to trade the wedge so that's why I post this.
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  • #104,106
  • Nov 7, 2011 4:43am Nov 7, 2011 4:43am
Anyone with similar watchlist for today ?

Looking for a breakout and pullback on both .
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  • #104,107
  • Nov 7, 2011 5:14am Nov 7, 2011 5:14am
Quoting jarroo
That 1.6 BRN is sweet . .notice how Price could not Close above that level (your 1st 4 Hour box) Resistance. Then when Price Closed above that level or box it turn into Support (your 2nd 4 Hour box) . .nice.

Yes, it was a quick hitter.

Take a look at this M5 BUEOB right off the 1.60011
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  • #104,108
  • Nov 7, 2011 5:36am Nov 7, 2011 5:36am
Quoting Yehuda Sh
Hello everyone

Which direction to go now Snap g / a
Last week the pair shuffles and I do not know whether he would continue up or check himself down again 1.500

Thank you
[I apologize for the bad English, I do not speak English and that's what google "translate it for me]
Hey Y

I try to be pretty unbiased and focus on strong areas. But we are at a FANTASTIC area to watch. My guess is we are going higher. We are now creating another box around 1.55 where the previous one was. I am watching the BRN very close

No need to apologize for anything

Best
Mike
  • #104,109
  • Nov 7, 2011 5:40am Nov 7, 2011 5:40am
Quoting jarroo

Look at the these HCR and LCS levels on the Monthly . .more Space and more responsive to Price .. .nice 365 ema on the Monthly HCR level . .
Hi all,
jarroo, i have added a comment (on chart) if you don't mind, is it correct?
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W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #104,110
  • Nov 7, 2011 5:46am Nov 7, 2011 5:46am
Quoting Pinbar
Hi.
Without trying to sound too blunt, do you wish to continue to be a "Market Loser"?

Mike kindly laid out the reasons for this, & you should consider it for the following reasons.
Have you ever considered how many times you are paying the spread to a broker by trading so short a time frame?
The shorter time frames such as M5 or M30 unless you really know what you are doing are mainly noise.
I know how hard it is to acclimatize oneself to the weekly and daily charts, but the Monthly & weekly charts are where the trend is made.

Perhaps...
Thanks for the reply! I think you missed my most recent post, it must not have been approved yet: http://www.forexfactory.com/showthre...27#post5107627

I agree that the weekly/monthly charts set the trend, but I must disagree that it's all noise. This depends on liquidity, time of day, and current volatility. Noise, I think, can come from any time frame. I find the hourly charts difficult to look at and decipher, for example, but 30s can hold a lot of information for me. It's all about getting used to and being able to trade a frame you are comfortable with.

In any case, I do not mind paying the spread at all since it is so tight at times (way better than commissions on stock/options!). If the strategy is a winner, the spread is meaningless.
  • #104,111
  • Nov 7, 2011 6:33am Nov 7, 2011 6:33am
Quoting VielGeld
Thanks for the reply! I think you missed my most recent post, it must not have been approved yet: http://www.forexfactory.com/showthre...27#post5107627

I agree that the weekly/monthly charts set the trend, but I must disagree that it's all noise. This depends on liquidity, time of day, and current volatility. Noise, I think, can come from any time frame. I find the hourly charts difficult to look at and decipher, for example, but 30s can hold a lot of information for me. It's all about getting used to and being able to trade...
Yes, you are correct, I did not see that post.
What do you consider the main problem to be, if it is not the lower TF?
Over trading, possibly?
  • #104,112
  • Nov 7, 2011 6:58am Nov 7, 2011 6:58am
Quoting decentchap
I entered this GBP/Usd on Friday..put my plan in the chart. any feedback from seniors is welcome..

EDIT: looking back at this I feel that I have been sucked in my buying a buob at the top of the range and should now just cut the losses.
I closed this trade at b/e as it was not going anywhere...
Trading is a test match not a Twenty20.
  • #104,113
  • Nov 7, 2011 7:11am Nov 7, 2011 7:11am
Possible break up arising on AUDCHF 4H TF - if so will buy on pullback to the 0.9300..
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all is eternal - this is good news for people who loves bad news
  • #104,114
  • Nov 7, 2011 7:17am Nov 7, 2011 7:17am
Quoting meshka
Possible break up arising on AUDCHF 4H TF - if so will buy on pullback to the 0.9300..
http://www.forexfactory.com/showthre...16#post5109016


You're not alone ... again !
  • #104,115
  • Nov 7, 2011 7:32am Nov 7, 2011 7:32am
EU is looking like we may see some bearish Daily PA.
I would like nice BEOB with a close below the 50 fibo.
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  • #104,116
  • Nov 7, 2011 7:35am Nov 7, 2011 7:35am
sold gold at FTB to broken daily LCS, divergence
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W Szczebrzeszynie chrząszcz brzmi w trzcinie
  • #104,117
  • Edited 8:03am Nov 7, 2011 7:40am | Edited 8:03am
Quoting kruger
sold gold at FTB to broken daily LCS, divergence
closed half, SL @ BE, free trade, target: 61.8 fib

edit: stopped out @ BE
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  • #104,118
  • Nov 7, 2011 8:14am Nov 7, 2011 8:14am
there is my chart of EURUSD 4H.... we need to break 1.3670 for confirmation. we ranging now between 1.3670-1.3860. weekly is clearly bearish - it would be interesting if we break 1.3860... but nothing is impossible. anyway we should look to sell higher this thing.
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all is eternal - this is good news for people who loves bad news
  • #104,119
  • Nov 7, 2011 8:34am Nov 7, 2011 8:34am
and I am looking one eye on USDCAD for breaking higher. would be nice to see some action
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all is eternal - this is good news for people who loves bad news
  • #104,120
  • Nov 7, 2011 8:41am Nov 7, 2011 8:41am
The other day I posted these double barrels on EU.
Let's look what occurred after PBT&CB on the daily.

All I can say is, WoW.
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