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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

  • #105,601
  • Edited 9:28am Jan 5, 2012 7:24am | Edited 9:28am
Quoting jarroo
To the rhyme & reason of the JPY . .Monthly LCS level . . Bam! . .

Quoting Pinbar
So simple as ever.

I think, we tend to over-complicate things by nature.

Thanks Jim
No surprise at how Price reacted . again . . to the Monthly Lowest Close of Support (LCS) level on the JPY .. .These are big story levels in my book . .. the Weekly levels are great too.

Focusing on just these levels and waiting for Price to get there, is the way to go for several reasons .

1. There are not that many of them, so we don't have a ton of lines on our charts.

2. There is usually big Space and/or little traffic if they breakout of these levels . .meaning if HCR/LCS levels are formed by a big consolidation area there will be space beyond them.. .or it they don't breakout they tend to fall back into that consolidation. The same can be said with Deep swing points.

3. It is usually where the big runners breed . . . .in either direction.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #105,602
  • Jan 5, 2012 7:39am Jan 5, 2012 7:39am
Quoting supremeChaos
Hey Mike,
interesting chart... live or demo chart?
on the extreme left side, red bearish candles went up
fxpro feed, their data is lacking on that pair


Mike
  • #105,603
  • Jan 5, 2012 8:42am Jan 5, 2012 8:42am
what id the take on these charts?
Cheers
V
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  • #105,604
  • Jan 5, 2012 8:48am Jan 5, 2012 8:48am
Still diving!! What a nice start to 2012.
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  • #105,605
  • Jan 5, 2012 9:24am Jan 5, 2012 9:24am
Quoting beebolbod
Still diving!! What a nice start to 2012.
That might make a nice pinbar if it pushes back up today.
  • #105,606
  • Jan 5, 2012 10:06am Jan 5, 2012 10:06am
Hey all - I took this based on the 4H DBLHC (not exact but I liked the resistance ), the size of the bar (not huge but good) and the obvious level as discussed by others previously.

1/2 off the table now and moved stop to where you see it now. Initially it was under the bar.

Big improvement last few weeks since going back to higher time frames and being PATIENT.

Its still moving up as I write so will look to move stop to BE or higher shortly.

Keep up the good work all.
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  • #105,607
  • Jan 5, 2012 11:40am Jan 5, 2012 11:40am
What do you guys think about my analysis here:

http://img23.imageshack.us/img23/5826/usdcadt.jpg

Uploaded with ImageShack.us

Decent pinbar formed and an entry should have been taken at the blue line if this were a great trade, but I don't think it has much more room to climb, because of all the resistance I circled in red, so I didn't take it.

Thoughts?
  • #105,608
  • Jan 5, 2012 12:04pm Jan 5, 2012 12:04pm
Quoting mojo6911
What do you guys think about my analysis here:

http://img23.imageshack.us/img23/5826/usdcadt.jpg

Uploaded with ImageShack.us

Decent pinbar formed and an entry should have been taken at the blue line if this were a great trade, but I don't think it has much more room to climb, because of all the resistance I circled in red, so I didn't take it.

Thoughts?
Hey Mojo

Careful here as a pinbar needs to have the open and close within the previous bar. I believe the bar that you were referring to does not. It has a close not within the previous bar. THe area you marked IS still important to where price is going on the way up, so that is great

Best
Mike
  • #105,609
  • Jan 5, 2012 12:48pm Jan 5, 2012 12:48pm
mbqb's favorite:
breakout and pullback.
german "deutsche post" on daily.
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meine augen sind die sterne
  • #105,610
  • Jan 5, 2012 2:05pm Jan 5, 2012 2:05pm
today EURUSD broke 1.2900-2850 zone and next target for me is 1.2650-2600
stop is above 1.2900.
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all is eternal - this is good news for people who loves bad news
  • #105,611
  • Jan 5, 2012 5:31pm Jan 5, 2012 5:31pm
Quoting aserbfx
mbqb's favorite:
breakout and pullback.
german "deutsche post" on daily.
that's a great and clear defined zone. Gotta love that we only need one line on our chart to tell a world of a story


Thanks for sharing
Mike
  • #105,612
  • Jan 5, 2012 6:41pm Jan 5, 2012 6:41pm
Quoting jarroo
No surprise at how Price reacted . again . . to the Monthly Lowest Close of Support (LCS) level on the JPY .. .These are big story levels in my book . .. the Weekly levels are great too.

Focusing on just these levels and waiting for Price to get there, is the way to go for several reasons .

1. There are not that many of them, so we don't have a ton of lines on our charts.

2. There is usually big Space and/or little traffic if they breakout of these levels . .meaning if HCR/LCS levels are formed by a big consolidation area there will be...

Thanks as always Jim

Just looking at the USD/CAD chart and noticed, you left out the 1.02287 area. Is this because you consider it too shallow a SP.

Also, I included the minor SL in the middle as it seems to be compressing price.

I think the problem was, I was using both the monthly and weekly points which can seem to give us conflicting views on the same chart, on some charts.
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  • #105,613
  • Jan 5, 2012 7:54pm Jan 5, 2012 7:54pm
Beauty here, with H4 DBHLC confirmation.
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  • #105,614
  • Jan 5, 2012 10:28pm Jan 5, 2012 10:28pm
here's a chart

nice clear clean trendline. These are beautiful to me. I am hoping to see more confluence on the intersection of the TL. Hopefully price consolidates with the BRN, or develops more of a story to use the TL
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  • #105,615
  • Jan 5, 2012 10:37pm Jan 5, 2012 10:37pm
Quoting mbqb11
here's a chart

nice clear clean trendline. These are beautiful to me. I am hoping to see more confluence on the intersection of the TL. Hopefully price consolidates with the BRN, or develops more of a story to use the TL
Mike, what triggers you to notice these patterns or trendlines on differrent timeframes ? Do you start going into differrent timeframes to see if any pattern exists or a trend line when the price is around a BRN or VBRN ?
or it becomes your second habit as soon as you see a price chart ?

Any pointers are welcome.
  • #105,616
  • Jan 5, 2012 10:40pm Jan 5, 2012 10:40pm
Quoting cprao
Mike, what triggers you to notice these patterns or trendlines on differrent timeframes ? Do you start going into differrent timeframes to see if any pattern exists or a trend line when the price is around a BRN or VBRN ?
or it becomes your second habit as soon as you see a price chart ?

Any pointers are welcome.
Hey C

This one was actually someone else in the Private forum , so I take hints wherever I can cause it is hard to keep up with every single thing at all times. Especially after a break.

But generally I am always kinda scanning things, but I will work down timeframes. Check my dailies once a day, check the 4hrs, every 4hrs or so. Then I just move them to certain sides of my screens to prioritize a bit more. I do also use the BRNs as a general grid of where we are and check prices near them a bit closer then I might other areas.

Hope this helps
Mike
  • #105,617
  • Jan 5, 2012 11:01pm Jan 5, 2012 11:01pm
Agree with Mike.
I Seriously don't have the Time to read or care about minor disagreements.

Take it Inside Boys.

B
  • #105,618
  • Jan 5, 2012 11:35pm Jan 5, 2012 11:35pm
Quoting mbqb11
Hey C

This one was actually someone else in the Private forum , so I take hints wherever I can cause it is hard to keep up with every single thing at all times. Especially after a break.

But generally I am always kinda scanning things, but I will work down timeframes. Check my dailies once a day, check the 4hrs, every 4hrs or so. Then I just move them to certain sides of my screens to prioritize a bit more. I do also use the BRNs as a general grid of where we are and check prices near them a bit closer then I might other areas.

Hope this...
Got it. Thank you Mike for the reply.
  • #105,619
  • Jan 6, 2012 4:16am Jan 6, 2012 4:16am
Quoting mbqb11
guys let's keep this to trading as we have done for 6 years. These posts are all going to get removed and it's just a waste of time. If you like what you see, share, help , hang out we have a great time and have been at it for awhile. If it's not for you there are many other places to go.

Let's get back to the charts friends

Mike
i agree, unwanted guests will naturally fade away .
  • #105,620
  • Jan 6, 2012 4:20am Jan 6, 2012 4:20am
Happy New Year guys !
Wish you all of the things you couldn't buy with money !
And a lot of money for the other
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