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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

  • #106,281
  • Jan 24, 2012 8:13pm Jan 24, 2012 8:13pm
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 . .

Yes, Jim, I had those areas on my chart and am waiting, the hard part.
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  • #106,282
  • Jan 24, 2012 8:21pm Jan 24, 2012 8:21pm
Quoting jarroo
Yeah . .good eye, Pinbar . .but that level maybe "washed out" due to the traffic involved . .(A bit of The Wizard lingo there) . . ..

Monthly levels have Monthly targets . .Monthly Highs and Lows on the Monthly (in blue) . .. so these targets on the Monthly line up pretty well with some Weekly targets as well. . .can't ingore the 1.0500 BRN either.

Yes, I see what you mean.

Wizard Lingo?
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  • #106,283
  • Jan 24, 2012 8:39pm Jan 24, 2012 8:39pm
I think if the back of this small PB breaks, we are going to hit 122, or close to it.
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  • #106,284
  • Jan 24, 2012 10:11pm Jan 24, 2012 10:11pm
Quoting Pinbar
I think if the back of this small PB breaks, we are going to hit 122, or close to it.
I agree with 122. After today's break through the weekly level at 120, I would really like to see a pullback to 120.7ish before moving higher.
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  • #106,285
  • Jan 24, 2012 11:33pm Jan 24, 2012 11:33pm
Quoting Donkey
I agree with 122. After today's break through the weekly level at 120, I would really like to see a pullback to 120.7ish before moving higher.

Yeah, I am thinking the same thing. LOL

We have a nice TL with the fibo confluence and the HCR, where we may get the pullback.
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  • #106,286
  • Jan 24, 2012 11:55pm Jan 24, 2012 11:55pm
AUD/JPY zone coming up.
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  • #106,287
  • Jan 25, 2012 5:31am Jan 25, 2012 5:31am
this...

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caused this...

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And many other PA setups/moves on all GBP pairs. Quite a few significant levels tested... lets see how they hold up.

I just found it interesting watching the correlation.
  • #106,288
  • Jan 25, 2012 6:08am Jan 25, 2012 6:08am
Quoting Pinbar
AUD/JPY zone coming up.
Hello Pinbar!
Thanks for your advice not to trade M15.
Now I trade H4 and it's better.
Can I ask you a question - What pairs do you trade?
  • #106,289
  • Jan 25, 2012 7:05am Jan 25, 2012 7:05am
One pure PA setup I am in
Not bad of an outside bar I scaled in from a H1 beob and ibfx's H4 BEOB .
Off the 365 EMA .
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  • #106,290
  • Jan 25, 2012 7:19am Jan 25, 2012 7:19am
Quoting Pokemon
Hello Pinbar!
Thanks for your advice not to trade M15.
Now I trade H4 and it's better.
Can I ask you a question - What pairs do you trade?
All that FXDD caries, not that many around 17 pairs, I watch.
  • #106,291
  • Jan 25, 2012 7:27am Jan 25, 2012 7:27am
Quoting DropThumb
Hector, I think you're confused on the TT as far as Pinbar and jarroo have discussed in recent posts. Although it's certainly possible I'm the one who's confused.

On the chart you posted we've just had price break through and close above the PPZ between 76.70-77.20. In this case we would be looking to go long on the first retrace to the 77.20 area.

Look at the price action on 11/23 and 11/24 for an example on the same area. On 11/23 the price broke through 77.20 and closed above. If you had entered a TT buy at 77.20 you were in on a 100 pip...
Hello Drop

The levels marked on the charts i posted are the monthly HCR & LCS of the range we are stuck right now on this pair, those are supposed to be more reliable than any level on a lower timeframe. This is the range we have been hanging since november 2011 begginings. I assume the 77,20 is a HCR on daily (marked on the chart attached), or midpoint of actual range (Mike wrote about it a few posts back). Daily levels work too, but they are supposed to be less reliable.

Thank you for your feedback

Best wishes

Hector
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  • #106,292
  • Jan 25, 2012 7:34am Jan 25, 2012 7:34am
EU gave us an M15 Jarroo special BEOB PB Hybrid.

No surprises that this area gave such a strong reaction.
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  • #106,293
  • Jan 25, 2012 7:42am Jan 25, 2012 7:42am
Hit both its daily targets.


I was wondering to myself, "How do I work this" but, it is showing me very well, while I am in the watching mode. Way to go Jim.
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  • #106,294
  • Jan 25, 2012 7:55am Jan 25, 2012 7:55am
Hey Pinbar, Jarrroo, and others, is this what your talking about for TT's?? or are this monthly levels something that you might be looking at??

I love the information this thread has provided. Its simple when looking at others charts but implementing from scratch on my own im still having a problem. I have read through about the first 300 pages and also skimmed through some too, also watched the videos on J16group. Still have alot to learn and just need a starting point to work off from.

What you think?

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #106,295
  • Jan 25, 2012 8:10am Jan 25, 2012 8:10am
EURJPY H4
Pinbar+Fibo 261.8
http://ubuntuone.com/6vMupTkcs29OoAJjX1q7Yv
  • #106,296
  • Jan 25, 2012 8:16am Jan 25, 2012 8:16am
Quoting rolo1128
Hey Pinbar, Jarrroo, and others, is this what your talking about for TT's?? or are this monthly levels something that you might be looking at??

I love the information this thread has provided. Its simple when looking at others charts but implementing from scratch on my own im still having a problem. I have read through about the first 300 pages and also skimmed through some too, also watched the videos on J16group. Still have alot to learn and just need a starting point to work off from.

What you think?

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Looks good to me but, this area should have acted as support on the daily TF, after the daily close above.
So, now we wait and see if we get a daily close below, and see if we get a retest and the area may flip to resistance.
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  • #106,297
  • Jan 25, 2012 8:23am Jan 25, 2012 8:23am
Now it has a bit more confluence.
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  • #106,298
  • Jan 25, 2012 8:32am Jan 25, 2012 8:32am
Quoting Pokemon
EURJPY H4
Pinbar+Fibo 261.8
http://ubuntuone.com/6vMupTkcs29OoAJjX1q7Yv

Might want to keep an eye on this area.
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  • #106,299
  • Jan 25, 2012 8:40am Jan 25, 2012 8:40am
Quoting Pinbar
Looks good to me but, this area should have acted as support on the daily TF, after the daily close above.
So, now we wait and see if we get a daily close below, and see if we get a retest and the area may flip to resistance.
Ok. That makes sense. Watch possible critical areas on higher TF and then drill down to lower TF and watch for price action.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #106,300
  • Jan 25, 2012 8:45am Jan 25, 2012 8:45am
nice chart and area to watch. BRN intersecting with a clean rising TL as price is beginning to look heavy and turn over(ala divergence).

For you new people if you have a million indicators and lines running through your charts you don't need that! Simplify . Look for clean levels of confluence and wait and wait and wait
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