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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

  • #106,101
  • Edited 1:14am Jan 20, 2012 1:04am | Edited 1:14am
Quoting Pinbar
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.
You're doing great, Pinbar.

The PB was pretty small not the best size PA (don't tell Mike) . what made this setup work was the strength of that Weekly level of Support.

The PB hit some targets nicely, all be they pretty close. . . its got some good Space.

Nice job, Pinbar.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #106,102
  • Jan 20, 2012 1:12am Jan 20, 2012 1:12am
Quoting DropThumb
Thanks biDc. They've been added to my James16 "Glossary".

I would surmise that there is also an "HCR"- Highest close of resistance. Correct?

Here you go DropT . .this should help with the abbreviations ..




Quoting jarroo
The common market dynamic of Support and Resistance levels are a universal one . .meaning, when we have an established Resistance level it will tend to stay as Resistance until Price breaks through it. Then Price will usually "flip" or transition to Support at that same level . .and vice versa.


Price Breaks Through & Closes Above or Below (PBT&CAorB) is away of confirming this "flip" or transition from Support to Resistance . .Resistance to Support.

The Highest Close of Resistance (HCR) and Lowest Close of Support (LCS) are levels I use to...
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Indicators show the past. Price Action "Indicates" the future.
  • #106,103
  • Jan 20, 2012 1:19am Jan 20, 2012 1:19am
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...

Great vid, Pinbar . . . .very helpful .
Indicators show the past. Price Action "Indicates" the future.
  • #106,104
  • Jan 20, 2012 1:20am Jan 20, 2012 1:20am
Quoting Jonnyislost
Awesome video Pinbar!

I think of Price Pivot Zones as 'unfair' prices, meaning that price doesn't like to hang around there for too long.
Usually when Price approaches a PPZ it is immediately rejected. Or it cuts through very quickly in order to find value (another range) higher or lower. Creating the boxing effect that Mike and James often speak about

Jonnyisfound . . good to see you .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #106,105
  • Jan 20, 2012 1:22am Jan 20, 2012 1:22am
Quoting vyky
Hi Jaroo,

I like your charts. They are very clean and neat. Where do you get these charts?

Thanks
vyky
Hey vyky . . FxPro MT4 demo . . .
Indicators show the past. Price Action "Indicates" the future.
  • #106,106
  • Jan 20, 2012 1:39am Jan 20, 2012 1:39am
Quoting smozmo
Hey riandouma this is how i see it, price will break the PB and will go to PPZ where will find a strong resistance and then will retrace to the trendline or ema, I will glade if some seniors will review my analise, thx

Hey smozmo . .excellent confluences at that level. HCR level, 150 ema, trendline supporting the level.

This is what James16 talks about when he says . ."We want many reasons to enter . ." Mutliple confluence that support a level or a PA setup gives us confidence to enter a trade.

Nice one smoz.

I have the 150 ema supporting this level, can I ask what ema (in red on your chart) that you are using? . .looks pretty supportive as well.

Thanks,

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #106,107
  • Jan 20, 2012 2:51am Jan 20, 2012 2:51am
usd/chf dblhc off ppz
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  • #106,108
  • Jan 20, 2012 3:16am Jan 20, 2012 3:16am
Quoting biDc
usd/chf dblhc off ppz
Hey biDc.

Looks more like BUOB ..we'll have to wait and see how it closes to fit the formation . . I do like that it is off Daily Lowest Close of Support levels.

If I do trade on the lower TFs, like the 4 Hour, I will take these higher TF levels with me and trade lower TF PA off of them.

I like it, biDc . .
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Indicators show the past. Price Action "Indicates" the future.
  • #106,109
  • Jan 20, 2012 3:18am Jan 20, 2012 3:18am
I posted this one a while back and i think it shows how these moves are very much part of a long process which i am/we are learning to recognise and follow.

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I originally posted the above with a view to taking the pin marked due to the divergence on D1 and break of daily upward trend.
Pinbar showed me how the weekly and monthly may well cause problems and that price could go back up to 1.45. He was absolutely right! This guy knows his stuff

But i wanted to know what the bearish divergence actually meant and watched this pair to see how this was panning out. I've been learning about price patterns lately and this also seemed to me to be in correction having reached 1.45.

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So a small pin formed on the 1.45 - not a great PA setup but it does show how this upwards move was stalling, MACD divergence was telling us this, the wave pattern was relevant, the BRN got a reaction AND PA formed. To me this was a great learning curve to watch and see how what we are learning here is so relevant when forming part of a big picture.

i didn't take this one btw.... wanted to sit and watch.... ready for next time!
  • #106,110
  • Jan 20, 2012 3:30am Jan 20, 2012 3:30am
Quoting jarroo
Hey biDc.

Looks more like BUOB ..we'll have to wait and see how it closes to fit the formation . . I do like that it is off Daily Lowest Close of Support levels.

If I do trade on the lower TFs, like the 4 Hour, I will take these higher TF levels with me and trade lower TF PA off of them.

I like it, biDc . .
hehe - i also marked this one last night....

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  • #106,111
  • Jan 20, 2012 3:33am Jan 20, 2012 3:33am
interesting.... watch at close of bar.

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  • #106,112
  • Jan 20, 2012 3:36am Jan 20, 2012 3:36am
In fact watch all the Euro pairs.... something afoot. Carefully does it tho!
  • #106,113
  • Jan 20, 2012 3:51am Jan 20, 2012 3:51am
Quoting Pinbar
Hey J

Haven't seen you around in a while. Been busy?

Thanks for the kind comments folks, it was just something to try to help new people look at the larger time frames. No big deal.
Yeah been busy. I mostly daytrade which requires my undivided attention while I'm working and when I'm not working I wanna be as far away from the screens as possible Which doesn't leave much time for forums. But I do like to drop in here occasionally


Quoting jarroo
Jonnyisfound . . good to see you .

Jim
Good to see you too sir. Great to see the same faces showing up here everytime

Jonny
  • #106,114
  • Jan 20, 2012 3:58am Jan 20, 2012 3:58am
Quoting beebolbod
hehe - i also marked this one last night....

Attachment
Nice line up of LCS levels, beebo.

Price doesn't Close below it, still Support. . .Price Closes below it , could easily filp over to Resistance at that level.
Indicators show the past. Price Action "Indicates" the future.
  • #106,115
  • Jan 20, 2012 3:58am Jan 20, 2012 3:58am
Quoting Rust
Little update -
stop goes to BE
monitoring very closely to lock much profit at bar close .
Stopped for a nice profit little over 1:1 . 2 Charts :
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  • #106,116
  • Jan 20, 2012 4:10am Jan 20, 2012 4:10am
Jarroo, any chance you also caught the touch trade on EU?

Was 4h Res at 1.298. 200 ema anda daily fib.

I exted at 1.29, waiting to see what happens with the daily falling TL. I'm expecting the 4h BEOB to be a fake and to bounce higher off the TL retest.
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  • #106,117
  • Jan 20, 2012 4:22am Jan 20, 2012 4:22am
Quoting jarroo
You're doing great, Pinbar.

The PB was pretty small not the best size PA (don't tell Mike) . what made this setup work was the strength of that Weekly level of Support.

The PB hit some targets nicely, all be they pretty close. . . its got some good Space.

Nice job, Pinbar.

Jim

Thanks Jim.

I have a good teacher

Yes, it as you say, it was the higher TF levels that made it work, I imagine you were in it from the TT.

Seeing those possible targets, and knowing where they are indeed are a GREAT part of the puzzle.

Glad you mentioned the higher TF to the new people Jim.

Just thought that video may encourage some new people to concentrate on the higher TF.
  • #106,118
  • Edited 5:41am Jan 20, 2012 4:28am | Edited 5:41am
Quoting kocher
Jarroo, any chance you also caught the touch trade on EU?

Was 4h Res at 1.298. 200 ema anda daily fib.

I exted at 1.29, waiting to see what happens with the daily falling TL. I'm expecting the 4h BEOB to be a fake and to bounce higher off the TL retest.

No, I miss that one kocker. I use Higher TF levels like the Daily and Weekly on the 4 Hour/Hourly when I trade them. Or I stay on the same TF . . . nice flip from Support to Resistance at the 1.2875 once Price broke through and Closed below.
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Indicators show the past. Price Action "Indicates" the future.
  • #106,119
  • Jan 20, 2012 4:43am Jan 20, 2012 4:43am
Quoting Pinbar
Thanks Jim.

I have a good teacher

Yes, it as you say, it was the higher TF levels that made it work, I imagine you were in it from the TT.

Seeing those possible targets, and knowing where they are indeed are a GREAT part of the puzzle.

Glad you mentioned the higher TF to the new people Jim.

Just thought that video may encourage some new people to concentrate on the higher TF.
Targets are a very large piece indeed . .its where are profits taken and our trade management begins . many traders will take a great setup which hits its target(s), yet still take a loss and then wonder what happen. Targets are very important indeed . .

The video will help . .no doubt . . .Higher TFs Rule . . .
Indicators show the past. Price Action "Indicates" the future.
  • #106,120
  • Jan 20, 2012 4:51am Jan 20, 2012 4:51am
Watching this one again on the EurGbp at the .8423 . .worked out great on the FTB. . . .

So far its working out good the 2nd time back . . .still no Close above it . . .lol

I don't know what happen to my feed on the Weekly . .. . lollol


gotta go for now,

later,

Jim
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Indicators show the past. Price Action "Indicates" the future.
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