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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

  • #106,061
  • Jan 19, 2012 2:35am Jan 19, 2012 2:35am
Hi all,

I've been following the J16 thread for sometime now, and found a trade that seems worthy of mentioning. I'd like to get your feedback.

What I see is a nice little pinbar that has formed just above the BRN 0.8000. It seems to have a nice location, and has generated some space. I'm expecting price to test the level 0.7800; but I'm concerned I may be expecting too much of the move. Obviously the 0.7970 level would over a much safer exit, since I'm not able to manage the trade due to work.

Any thoughts?

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  • #106,062
  • Edited 2:52am Jan 19, 2012 2:38am | Edited 2:52am
Quoting Donkey
Great area to watch on GBPNZD....weekly LCS, BRN 1.9000, and deep (78.6 fib retracement)

Also space above if the PPZ acts as support and below if the PPZ breaks down and becomes resistance.

Damn you gap!!!! Nice 4 Hour signature at 1.9065 (no close below on the 4 Hour).
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Indicators show the past. Price Action "Indicates" the future.
  • #106,063
  • Edited 3:11am Jan 19, 2012 2:50am | Edited 3:11am
Quoting MickeyM79
Hi all,

I've been following the J16 thread for sometime now, and found a trade that seems worthy of mentioning. I'd like to get your feedback.

What I see is a nice little pinbar that has formed just above the BRN 0.8000. It seems to have a nice location, and has generated some space. I'm expecting price to test the level 0.7800; but I'm concerned I may be expecting too much of the move. Obviously the 0.7970 level would over a much safer exit, since I'm not able to manage the trade due to work.

Any thoughts?

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Key word there, Mick . ."little" pinbar . .At a swing High, off a bit of Resistance is good. . bigger and closing below the 80.00 BRN would make that setup look alot better.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #106,064
  • Jan 19, 2012 3:09am Jan 19, 2012 3:09am
Quoting Pinbar
Just found another great example of what Jarroo is teaching us, as I was scanning my charts for current areas.

What a beauty, at a strong area and with a reasonably small SL.

That was a great level, Pinbar . . Even if we look at the "damn gap" level on the Hourly we can see how reactive it was.

A nice build of Support like this one, even in the middle of everything, should have given a bigger bounce upward.

This put the "dead" in the dead cat bounce at this level. No surprise that the strong momentum pushed it strongly downward.

. .and then we see what stops this downward movement . .another Weekly swing point and its LCS.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,065
  • Jan 19, 2012 3:43am Jan 19, 2012 3:43am
Quoting biDc
Scanned the charts and no trade opportunities today. However, one thing that caught my attention is the PPZ for AUD/CHF. Tested 3x for support and price is approaching it again (this time confluence with RTL). Whether or not it will bounce there no one knows but that's an area to watch for PA or breakthrough and retest
Cud you explain what is RTL?maybe retrance trendline?
Thanks
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #106,066
  • Jan 19, 2012 4:44am Jan 19, 2012 4:44am
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  • #106,067
  • Jan 19, 2012 5:11am Jan 19, 2012 5:11am
Quoting jarroo
That was a great level, Pinbar . . Even if we look at the "damn gap" level on the Hourly we can see how reactive it was.

A nice build of Support like this one, even in the middle of everything, should have given a bigger bounce upward.

This put the "dead" in the dead cat bounce at this level. No surprise that the strong momentum pushed it strongly downward.

. .and then we see what stops this downward movement . .another Weekly swing point and its LCS.
Yeah, I just closed out the trade on this one as it was starting to struggle after I took the break of the PB. Hit its TP1 though.

A touch trade would have been much better but, it came in the early hours.

The experience and thought process you so kindly taught me is worth much more than the pip value on this trade.
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  • #106,068
  • Edited 6:01am Jan 19, 2012 5:31am | Edited 6:01am
Quoting Iron666
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This is not the sort of bar we look for, and neither is the location.

This bar is, in traffic, puny in size, closed above the 365 EMA and half way up the bar & last but not least the location is bad.

You really should read post number one about J16's minimum requirements.

The weekly & daily PA is what you need to look at, not H1.
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  • #106,069
  • Jan 19, 2012 6:10am Jan 19, 2012 6:10am
Quoting Pinbar
This is not the sort of bar we look for, and neither is the location.

This bar is, in traffic, puny in size, closed above the 365 EMA and half way up the bar & last but not least the location is bad.

You really should read post number one about J16's minimum requirements.

The weekly & daily PA is what you need to look at, not H1.
I am using little bit different strategy (suply demand levels as you see on my picture) but you are absolutely right about trafic. Thanks for your comment and I will check J16's minimum requirements. But one question. Why do you use 365ema. Do you think it has some edit value?
  • #106,070
  • Jan 19, 2012 6:10am Jan 19, 2012 6:10am
CAD/JPY broke out long after all that lingering around.

It seems to be arriving at a PPZ Rock & a Hard place, right now.
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  • #106,071
  • Jan 19, 2012 6:18am Jan 19, 2012 6:18am
Quoting Iron666
I am using little bit different strategy (suply demand levels as you see on my picture) but you are absolutely right about trafic. Thanks for your comment and I will check J16's minimum requirements. But one question. Why do you use 365ema. Do you think it has some edit value?

We think of the 150 & 365 EMAs as moving pivots, and use them as extra confluence to give weight to a move.
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  • #106,072
  • Edited 6:55am Jan 19, 2012 6:41am | Edited 6:55am
GJ is looking interesting.

Not a really deep weekly SL but, I like the bar low confluence.
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  • #106,073
  • Jan 19, 2012 9:26am Jan 19, 2012 9:26am
It seems like the thread has lot of new people.
Here is my way of giving a very small portion of what I have learned here and the PF back.
It is just a very simple way to find the main PPZ in an area and shows how we can ass just a few lines to the large time frames and find PA on the weekly and daily charts, that will be reliable. I say reliable, I mean rather than finding a one hour PA bar at an area of little importance.
I actually miss speak in this video and call a BEOB a BUEOB, you know what I mean. The upload time from over here in China is enormous so, I just left it. If this short video helps just one new person work on the larger time frames, it will have been well worth it.

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  • #106,074
  • Jan 19, 2012 9:52am Jan 19, 2012 9:52am
Quoting Pinbar
It seems like the thread has lot of new people.
Here is my way of giving a very small portion of what I have learned here and the PF back.
It is just a very simple way to find the main PPZ in an area and shows how we can ass just a few lines to the large time frames and find PA on the weekly and daily charts, that will be reliable. I say reliable, I mean rather than finding a one hour PA bar at an area of little importance.
I actually miss speak in this video and call a BEOB a BUEOB, you know what I mean. The upload time from over here in China...
nice work... put the link to this in your sig m8 ;-)
  • #106,075
  • Jan 19, 2012 10:53am Jan 19, 2012 10:53am
Quoting Rust
Here I am :

- breakout with a big BUOB
- divergence
Little update -
stop goes to BE
monitoring very closely to lock much profit at bar close .
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  • #106,076
  • Jan 19, 2012 11:27am Jan 19, 2012 11:27am
Quoting Pinbar
It seems like the thread has lot of new people.
Here is my way of giving a very small portion of what I have learned here and the PF back.
It is just a very simple way to find the main PPZ in an area and shows how we can ass just a few lines to the large time frames and find PA on the weekly and daily charts, that will be reliable. I say reliable, I mean rather than finding a one hour PA bar at an area of little importance.
I actually miss speak in this video and call a BEOB a BUEOB, you know what I mean. The upload time from over here in China...
Nice vid pin ! Didn't know chinese guys have such good pronunciation !
  • #106,077
  • Jan 19, 2012 11:49am Jan 19, 2012 11:49am
Quoting Rust
Little update -
stop goes to BE
monitoring very closely to lock much profit at bar close .
great job buddy!

  • #106,078
  • Jan 19, 2012 12:06pm Jan 19, 2012 12:06pm
Thank you Mike ! It's all because of you
  • #106,079
  • Jan 19, 2012 12:18pm Jan 19, 2012 12:18pm
Quoting Pinbar
It seems like the thread has lot of new people.
Here is my way of giving a very small portion of what I have learned here and the PF back.
It is just a very simple way to find the main PPZ in an area and shows how we can ass just a few lines to the large time frames and find PA on the weekly and daily charts, that will be reliable. I say reliable, I mean rather than finding a one hour PA bar at an area of little importance.
I actually miss speak in this video and call a BEOB a BUEOB, you know what I mean. The upload time from over here in China...
Thanks for that Pinbar. I've been only been on this thread for a few days and I'm following Jim's suggestion to read the beginning and recommended pages and then following the current flow of the thread to start seeing things in real time. In reading the current posts there is still a lot of terms and their applications that is confusing to me. Your video helped to take the fog off the "PPZ" term.

If you could help clarify a few other terms I don't yet fully grasp I would appreciate it.

LCS and RTL are a couple of the other terms I have seen recently that I don't understand. If you, Mike, or Jarroo could go over those briefly, I would greatly appreciate it.

Thanks,
Haven
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
  • #106,080
  • Jan 19, 2012 12:22pm Jan 19, 2012 12:22pm
Quoting DropThumb
Thanks for that Pinbar. I've been only been on this thread for a few days and I'm following Jim's suggestion to read the beginning and recommended pages and then following the current flow of the thread to start seeing things in real time. In reading the current posts there is still a lot of terms and their applications that is confusing to me. Your video helped to take the fog off the "PPZ" term.

If you could help clarify a few other terms I don't yet fully grasp I would appreciate it.

LCS and RTL are a couple of the other terms I have seen...
LCS - Lowest close of support
RTL - Rising trendline
DTL - Descending trendline
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