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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

  • #106,121
  • Jan 20, 2012 5:00am Jan 20, 2012 5:00am
Quoting jarroo
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

My FX-Pro feed seems ok but, I like your PB better.
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  • #106,122
  • Jan 20, 2012 5:30am Jan 20, 2012 5:30am
This interests me for next week, if we get a weekly close below.
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  • #106,123
  • Jan 20, 2012 6:29am Jan 20, 2012 6:29am
Quoting jarroo
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
Thanks for review Jim, I learned verry much from you, Mike, Pinbar, James, raczekfx( I am sure i forget somoane...) thanks a lot, ema is 365
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #106,124
  • Jan 20, 2012 11:14am Jan 20, 2012 11:14am
Quoting jarroo
Here you go DropT . .this should help with the abbreviations ..
Thanks Jarroo, that certainly helps. When you're looking to outline PPZ do you generally stick to the time frame that you're trading in, or do you define them by looking for a confluence of Daily, Weekly, Monthly?
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
  • #106,125
  • Jan 20, 2012 12:43pm Jan 20, 2012 12:43pm
Quoting jarroo
Hey vyky . . FxPro MT4 demo . . .
Thanks jaroo. I will check it out.

vyky
  • #106,126
  • Jan 20, 2012 12:56pm Jan 20, 2012 12:56pm
I kind of like the looks of the daily bar forming on the GBPCHF, keeping a close eye on it .
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Price is beautiful. A repetitive method is a competitive method.
  • #106,127
  • Jan 20, 2012 2:44pm Jan 20, 2012 2:44pm
Quoting nwo-trader
I kind of like the looks of the daily bar forming on the GBPCHF, keeping a close eye on it .
Definitely looks interesting. I have had that same PPZ up for quite a while just above the BRN as well. I really wish that the close were more decisive right now as it is right on the PPZ and not actually going through it. Will be interesting to see how it opens on Sunday...

Ryan

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  • #106,128
  • Jan 20, 2012 3:03pm Jan 20, 2012 3:03pm
Quoting gungriffin
Definitely looks interesting. I have had that same PPZ up for quite a while just above the BRN as well. I really wish that the close were more decisive right now as it is right on the PPZ and not actually going through it. Will be interesting to see how it opens on Sunday...

Ryan

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Additionally we are in a box. Notice price boxing on top of other boxes(creating our pivot at 1.45 brn.

Here is a tip for those who are new. Check out these "boxes" or any form of consolidation. Then check out the MIDPOINT of your consolidation. It will almost always be a PPZ.

How does this help us? Well in this case we know we are trading in a "box", so we know price has a tendency to chop in a box. So we know where to look. The midpoint.

Funny enough look where the 365 is

Enjoy the weekend all be safe

Mike
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  • #106,129
  • Jan 20, 2012 3:33pm Jan 20, 2012 3:33pm
Quoting mbqb11
Additionally we are in a box. Notice price boxing on top of other boxes(creating our pivot at 1.45 brn.
What about all the traffic we are in, the lack of space? The way I see it, we would need to wait for the minor PPZ at 1.4550 to break. Then TP at 1.4600. Which size would you choose for a SL? I understand that expected %R does not make or break a trade, but does this look good enough to make it worthwhile?

The 365 on my feed is quite off.

dkc
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  • #106,130
  • Jan 20, 2012 3:56pm Jan 20, 2012 3:56pm
Quoting dropkick-cat
What about all the traffic we are in, the lack of space? The way I see it, we would need to wait for the minor PPZ at 1.4550 to break. Then TP at 1.4600. Which size would you choose for a SL? I understand that expected %R does not make or break a trade, but does this look good enough to make it worthwhile?

The 365 on my feed is quite off.

dkc
Hey DK

Look right where you drew your PPZ, this is exactly what my post was about.

How one decides to best utilize this information is going to vary. This is an easy pass for me for a lot of the reasons you said above. Mostly the consolidation range is too tight(ie box is too tight) and the mid point aka ppz is to close. If I was forced to take this one I would often place my stop below the BRN and my target right at the midpoint for a "quick hitter" as I call them.

Hope that clears it up but you got it, said the same thign I was trying to explain in a broader concept. It was to get people thinking not about the bar but about the story

Best
Mike
  • #106,131
  • Jan 20, 2012 4:15pm Jan 20, 2012 4:15pm
Quoting mbqb11
Hey DK

Look right where you drew your PPZ, this is exactly what my post was about.

How one decides to best utilize this information is going to vary. This is an easy pass for me for a lot of the reasons you said above. Mostly the consolidation range is too tight(ie box is too tight) and the mid point aka ppz is to close. If I was forced to take this one I would often place my stop below the BRN and my target right at the midpoint for a "quick hitter" as I call them.

Hope that clears it up but you got it, said the same thign I was trying...
Hey Mike,

Yeah, that makes a lot of sense, thanks! You have a way of finding the right words.

dkc
  • #106,132
  • Jan 20, 2012 5:29pm Jan 20, 2012 5:29pm
Quoting dropkick-cat
What about all the traffic we are in, the lack of space? The way I see it, we would need to wait for the minor PPZ at 1.4550 to break. Then TP at 1.4600. Which size would you choose for a SL? I understand that expected %R does not make or break a trade, but does this look good enough to make it worthwhile?

The 365 on my feed is quite off.

dkc
As a newbie, I really just want to avoid the Swiss Franc in any way possible. I donīt even look at it.
  • #106,133
  • Jan 20, 2012 6:40pm Jan 20, 2012 6:40pm
Quoting riandouma
As a newbie, I really just want to avoid the Swiss Franc in any way possible. I donīt even look at it.
I feel the same way about the pre-hatched eggs called (Mo-Dan) the street vendor boils at the corner of my street, I have to pass everyday. Friggin, feathers on them boiling away there.
  • #106,134
  • Jan 20, 2012 6:44pm Jan 20, 2012 6:44pm
Quoting Pinbar
I feel the same way about the pre-hatched eggs called (Mo-Dan) the street vendor boils at the corner of my street, I have to pass everyday. Friggin, feathers on them boiling away there.
That was funny....I think I'll go crack open a beer or 3.
  • #106,135
  • Jan 20, 2012 6:45pm Jan 20, 2012 6:45pm
Quoting Donkey
That was funny....I think I'll go crack open a beer or 3.
that would make me 2 steps ahead of you D
  • #106,136
  • Jan 20, 2012 9:36pm Jan 20, 2012 9:36pm
Going into next week CAD/CHF

PPZ, round number, 150EMA, DBHLC
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  • #106,137
  • Jan 20, 2012 9:39pm Jan 20, 2012 9:39pm
daily has neutral bar on support and round number. would be nice if this a retracement of the weekly DBHLC for a superb entry
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  • #106,138
  • Jan 20, 2012 9:59pm Jan 20, 2012 9:59pm
H4 IB

Right off support, 150EMA, and DTL

Oh, and in the middle of daily box range
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  • #106,139
  • Edited 2:32pm Jan 21, 2012 12:28am | Edited 2:32pm
Quoting Pinbar
My FX-Pro feed seems ok but, I like your PB better.
Once I restart the Plat . . . it went away . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #106,140
  • Jan 21, 2012 12:32am Jan 21, 2012 12:32am
Quoting smozmo
Thanks for review Jim, I learned verry much from you, Mike, Pinbar, James, raczekfx( I am sure i forget someone...) thanks a lot, ema is 365
Hey smoz . . It looks more like a 365 Simple moving average . .you may want to re-check your parameters on that MA. .(chart)
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Indicators show the past. Price Action "Indicates" the future.
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