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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

  • #106,241
  • Edited Jan 24, 2012 2:22am Jan 23, 2012 11:18pm | Edited Jan 24, 2012 2:22am
Quoting PinWing

This is the chart, i am not that convinced about it, but i have been waiting for it for a week or so, and now i just dont like it that much. Opinions are very welcomed.
Hector

I think that this is a false breakdown of the triangle.
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  • #106,242
  • Jan 23, 2012 11:37pm Jan 23, 2012 11:37pm
Quoting jarroo
Still no Close Above on the Daily at this Weekly level(s) . .

A big old, pitbull Daily Bearish PB at this level would have been nice . .
Hi Jarroo. A question about PBT and CA/CB. Do you view the CA/CB as an entry point, or just as a sign to look for further PA in that direction?
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
  • #106,243
  • Edited 2:01am Jan 24, 2012 1:50am | Edited 2:01am
Quoting DropThumb
Hi Jarroo. A question about PBT and CA/CB. Do you view the CA/CB as an entry point, or just as a sign to look for further PA in that direction?

That is the discretionary part of Jarroos methodology.

Here is an example of a TT setup.

Some people are taking lower TF PA, some TT at these areas.

No doubt, Jim will explain personally in more detail.

EDIT: we can see the monthly TF is starting to Pin Up below this area.
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  • #106,244
  • Jan 24, 2012 2:05am Jan 24, 2012 2:05am
A nice weekly close above this area, is on my wish list.
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  • #106,245
  • Jan 24, 2012 6:03am Jan 24, 2012 6:03am
Quoting jc.
hi guys!! i've not written so much but i read all your posts.

i was wondering on this h4 pin bar. the location and the size seem good to me. i don't like the close so much. it seems to be quite weak. and this is the third touch on this support level and every touch has less power than the previous one. so i'd pass this one..

what do you think?
If I can add one more thing , which I found hugely important to the story section . If we playback price action see how the lows bounced of a horizontal level , but highs are squeezed more and more . Like the load is more heavy and these bounces from beneath are less strong to hold the pressure . I find this very nice if I want to play the direction of the pressure , but here you are fighting it !
Don't know if this explanation is understandable (english is not my native)
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  • #106,246
  • Jan 24, 2012 6:36am Jan 24, 2012 6:36am
Quoting Rust
If I can add one more thing , which I found hugely important to the story section . If we playback price action see how the lows bounced of a horizontal level , but highs are squeezed more and more . Like the load is more heavy and these bounces from beneath are less strong to hold the pressure . I find this very nice if I want to play the direction of the pressure , but here you are fighting it !
Don't know if this explanation is understandable (english is not my native)

I think this is a really good question and an interesting topic.

I mean, we have the highs getting lower but, by the same standards, the lows are not getting lower. If you see what I mean.

The PB itself, seemed to have good shape an came off a strong support area, the fact that it did not break on the next bar would keep me out but, nevertheless, it was a good shaped bar at not a bad area, I feel.
So we have not a bad location, a fair sized bar, so ignoring the fact that it did not break, what is the problem with this bar? For me, the daily BEOB, would be the answer.
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  • #106,247
  • Jan 24, 2012 6:53am Jan 24, 2012 6:53am
Yeah Pin , you are absolutely right . But from your standpoint lows are not getting higher either
My post wasn't about to say "don't play nice looking pinbar at strong level" . It was more about that if we decide to take this one and accept that we are trading into the consolidation area , it's good to know of those descending highs and keep in mind the next one could be also lower than the previous !
Good pinbar at strong zone is GOOD , yes , but should we expect to break through the whole formation and put money on this scenario ?

Just my view !
  • #106,248
  • Jan 24, 2012 7:19am Jan 24, 2012 7:19am
Quoting Rust
Yeah Pin , you are absolutely right . But from your standpoint lows are not getting higher either
My post wasn't about to say "don't play nice looking pinbar at strong level" . It was more about that if we decide to take this one and accept that we are trading into the consolidation area , it's good to know of those descending highs and keep in mind the next one could be also lower than the previous !
Good pinbar at strong zone is GOOD , yes , but should we expect to break through the whole formation and put money on this scenario ?

Just my...
Just got back from a family New Year session here in China where everyone pours you drinks and you are expected to drink them.
It just struck me as interesting in the sense that, PA is PA and a strong support area was there, and I really do not see that much consolidation around this area.
Basically, I am not questioning your reply, I am questioning myself and the PA vs the FTA. The bar did not break on the next bar but, had it broken, could it have hit it's FTA?
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  • #106,249
  • Jan 24, 2012 7:31am Jan 24, 2012 7:31am
Quoting Pinbar
A nice weekly close above this area, is on my wish list.
Hi pinbar,

Why do you deem that level important? A little of your thought process would be nice. Thanks!
  • #106,250
  • Jan 24, 2012 7:33am Jan 24, 2012 7:33am
the weekly area shows a bit of a different story, albeit the close of that bar was not favorable.

This is not really a dilemma, just something I am trying to get my mind around.
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  • #106,251
  • Jan 24, 2012 7:35am Jan 24, 2012 7:35am
Quoting adaighy
Hi pinbar,

Why do you deem that level important? A little of your thought process would be nice. Thanks!
I think think it is an interesting area because of the daily 3 bar lows, and the weekly swing low in the post above this one.

I mean, this basically boils down to a Daily BEOB at a swing low, where we do not want to see them, VS an H4 bullish PB at swing low.
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  • #106,252
  • Jan 24, 2012 7:47am Jan 24, 2012 7:47am
It is just part of the processes my mind is going through, which I should not really even be thinking about after so many beers. But, my mind is still capable of thinking so, we think. Better to think than watch TV.
  • #106,253
  • Jan 24, 2012 7:55am Jan 24, 2012 7:55am
Quoting Rust
Yeah Pin , you are absolutely right . But from your standpoint lows are not getting higher either
My post wasn't about to say "don't play nice looking pinbar at strong level" . It was more about that if we decide to take this one and accept that we are trading into the consolidation area , it's good to know of those descending highs and keep in mind the next one could be also lower than the previous !
Good pinbar at strong zone is GOOD , yes , but should we expect to break through the whole formation and put money on this scenario ?

Just...
I took it.
Looking at quick in out but maybe more. Stops to BE and most profit taken. Left a little bit open with manual trailing stop. Experimental.
For me the BUOB a few bars after was confirmation this was going up to at least the close of the D1 BEOUB.
  • #106,254
  • Jan 24, 2012 7:58am Jan 24, 2012 7:58am
Quoting Pinbar
Better to think than watch TV.
  • #106,255
  • Jan 24, 2012 7:59am Jan 24, 2012 7:59am
Quoting stewrigh
Think Mike posted the AUDCHF chart yesterday - I'm a bit reluctant to trade against the SNB so I passed on that one but I do like the AUDUSD, which would support the USDCAD trade - both commodity currencies.

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Yeah, I like it also as I mentioned earlier.
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  • #106,256
  • Jan 24, 2012 8:02am Jan 24, 2012 8:02am
Quoting beebolbod
Yeah, makes it easier to resist when it is in a language, I understand less than 10% of anyway.LOL Only joking, I hate TV in any language.
  • #106,257
  • Jan 24, 2012 10:29am Jan 24, 2012 10:29am
Quoting DropThumb
Hi Jarroo. A question about PBT and CA/CB. Do you view the CA/CB as an entry point, or just as a sign to look for further PA in that direction?

Hey DropT . .I'm not sure what you're asking . .I know you saw this post below . .are looking where to entry a trade??
(Thanks Pinbar) . .

Quoting jarroo

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 establish a Resistance level and a Support level, respectively.

PPZ levels, where Highs (Resistance) and Lows (Support) met, can also be use as established S/R levels.


Jim


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #106,258
  • Jan 24, 2012 10:37am Jan 24, 2012 10:37am
Quoting jarroo
Hey DropT . .I'm not sure what you're asking . .I know you saw this post below . .are looking where to entry a trade??
Jim
Yes. Basically I am wondering if you look to enter a trade at the close of a breakthrough bar or whether you simply use that bar as an "attention" signal to then watch for setups.

Pinbar's example of the touch trade on a retrace to the breakthrough area was helpful, but I was looking for some clarification on whether the close of that breakthrough bar is an entry point for you.
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
  • #106,259
  • Jan 24, 2012 10:47am Jan 24, 2012 10:47am
Quoting DropThumb
Yes. Basically I am wondering if you look to enter a trade at the close of a breakthrough bar or whether you simply use that bar as an "attention" signal to then watch for setups.

Pinbar's example of the touch trade on a retrace to the breakthrough area was helpful, but I was looking for some clarification on whether the close of that breakthrough bar is an entry point for you.
No, I don't use the Close of the break through bar as a entry point . .just as a qualifying indication of the "flip".

Take the GbpJpy example . .We'll wait and see where the Daily closes today . .
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Indicators show the past. Price Action "Indicates" the future.
  • #106,260
  • Jan 24, 2012 11:29am Jan 24, 2012 11:29am
Quoting jarroo
No, I don't use the Close of the break through bar as a entry point . .just as a qualifying indication of the "flip".

Take the GbpJpy example . .We'll wait and see where the Daily closes today . .
That's perfect Jarroo. I'm still a bit ambiguous on how to define PPZ, but I'm definitely getting a better understanding of how to utilize them to my advantage once they're defined.

In your GJ example am I correct that you've taken that PPZ from a weekly TF and applied it to the daily chart?
Where I've been, Ive been. Where I'm going, I'll go. I'm here now.
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