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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

  • #106,601
  • Jan 31, 2012 2:48pm Jan 31, 2012 2:48pm
Quoting Rust
No offense at all man ! It was a nice trade actually , just the pin was so lousy . Your chart reminded me of a time when i was thinking "well , it's tiny and not showing much action , but it offer me much tighter stop and bigger position " So I just wanted to stress on this

All the best
no problem

my intention was only to explain my ideas, please forgive me if i seemed too rude (english is not my native language so maybe sometimes my intentions are misunderstood)
  • #106,602
  • Jan 31, 2012 3:01pm Jan 31, 2012 3:01pm
Quoting biDc
It's been a while since Jim himself posted here, has he ceased completely and focusing only in the PF now? Missed his charts

Anything new over there nowadays?
Hey B

He's getting back in the saddle now. Wouldn't be surprised to see him pop over here soon.

Best
Mike
  • #106,603
  • Jan 31, 2012 3:23pm Jan 31, 2012 3:23pm
Quoting Rust
Hey Mike ,
I was watching EURAUD for some time and now I have this question :
do you see this pattern invalidated (or more of a not pretty enough) , by breaching the TL in the 3rd touch (still respected to some point) , then respected again on a 4th touch (what i was waiting to see if happens) .
All in terms for a breakout/pullback play .
The patterns are secondary to what price is doing.
In this case, you have:

- bearish flag and triangle => short entries are safer
- 4 hours support holding Jan 26 swing up
- weekly (read: ultra strong) support right below, markets love to go get liquidity at nearby important price levels.

So price went (again) to hit the weekly support like in the swing before, to take liquidity up, no patterns were invalidated.
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  • #106,604
  • Jan 31, 2012 3:43pm Jan 31, 2012 3:43pm
Quoting mbqb11
Hey B

He's getting back in the saddle now. Wouldn't be surprised to see him pop over here soon.

Best
Mike
Good to hear

Was going over some charts and realized how I missed this completely. Would've been one of those rare touch trades.
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  • #106,605
  • Jan 31, 2012 3:52pm Jan 31, 2012 3:52pm
Additionally speaking, these bar highs should be of some value
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  • #106,606
  • Jan 31, 2012 4:12pm Jan 31, 2012 4:12pm
Quoting Pokemon
EUR/USD D1
Nice PPZ.
Nice double low bars.
But pin is not valid.
Is it possible to enter on Double low breakdown?
Attachment
not a strong signal in my opinion, i would stay out from this.
  • #106,607
  • Jan 31, 2012 4:15pm Jan 31, 2012 4:15pm
Quoting jarroo
Freaking awesome T . . what else can be said . .
Many thanks Jim

Two more for today. Same principle, same application, different story.

AUDJPY: 2nd trade on this pair. Original profits banked at FTA, why? Because you can always re-enter when the conditions are right. 9 pip draw down isn't too bad either when you consider price currently sitting at 43 pips.

EURJPY: Missed this one by a whisker before the break to the downside.

T
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  • #106,608
  • Jan 31, 2012 5:51pm Jan 31, 2012 5:51pm
Quoting dfumagalli
I beg you pardon for intruding, since I have done a similar study it might be possible to exchange points of view about this topic.

I have drawn a blue and green rectangle where buyers are taking their liquidity. The green area is very strong, the support at its base is really where money comes from. It's resistance is somewhat weaker since it's buyers domain down there.
The blue area acts like the green but it sees more selling power, it's support is somewhat weaker while the resistance at its top is stronger.
The end result is more or less what...
You have an interesting take on it, thanks.
  • #106,609
  • Jan 31, 2012 8:00pm Jan 31, 2012 8:00pm
Any thoughts about this BUOB?

My take on it:

Pros:
Okay size
Some space to move if it breaks


Cons:
Weak close
Same size as previous bars
Swing high
Not at any particular support area

Talked myself out of it
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  • #106,610
  • Jan 31, 2012 8:04pm Jan 31, 2012 8:04pm
Quoting PenguinTrade
Any thoughts about this BUOB?

My take on it:

Pros:
Okay size
Some space to move if it breaks


Cons:
Weak close
Same size as previous bars
Swing high
Not at any particular support area

Talked myself out of it
Hey PT

I would be with you, this is just a choppy as anything pair right now. We are trapped in an enormous box and we are at the mid point of this box(which will be a PPZ). I love this pair because when we get to the outsides of these boxes the potential for a nice play is high.

Best
Mike
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  • #106,611
  • Jan 31, 2012 11:00pm Jan 31, 2012 11:00pm
Quoting mbqb11
Hey Ralph

Here is a post that contains a large amount of the basic terminology should help ya

http://www.forexfactory.com/showthre...40#post4538540

If you have more questions don't be shy to ask

Best
Mike
Thank you Mike.
SNR with Price Action...
BitCrossNG Return Today: na
  • #106,612
  • Jan 31, 2012 11:18pm Jan 31, 2012 11:18pm
Hello Mike,

Please explain to me what your thought processes will be like when the inside bar(arrow) on the chart below formed. Your reasons not to take the trade or your reasons to take it and how you'll manage it.

Cheers.

Ralph
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SNR with Price Action...
BitCrossNG Return Today: na
  • #106,613
  • Edited 5:06am Feb 1, 2012 1:08am | Edited 5:06am
Sorry.
_______________________________ ""Amat victoria curam""
  • #106,614
  • Feb 1, 2012 5:02am Feb 1, 2012 5:02am
Quoting master_profi
buy USDCAD.
This is what you wrote on 27th Dec:
"ok. more will not spam. Only a vision for the TF 4 and above strictly by the PA. This is probably Pride and ego are felt .((((( will be modest. Thank you friends."

Why you wanted to buy USDCAD ? I'm courious because I see no PA reason right now...

Regards,
Peter
  • #106,615
  • Edited 6:10am Feb 1, 2012 5:40am | Edited 6:10am
XAGUSD(Silver)
Not bad pinbar(not broken yet)+78.6 fibo+161 fibo+resistance
Please rate it.
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  • #106,616
  • Feb 1, 2012 5:48am Feb 1, 2012 5:48am
Quoting Pokemon
XAGUSD(Silver)
Not bad pinbar(not broken yet)+78.6 fibo+161 fibo+resistance
Please rate it.

Attachment
Please take those cherries off your charts.... personally speaking i ignore your charts solely based on the cherries. I just cant see clearly what's going on.
  • #106,617
  • Edited 6:06am Feb 1, 2012 5:53am | Edited 6:06am
Half off the table and BE+

This may be an M15 setup but, it is a monthly TF area.
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  • #106,618
  • Feb 1, 2012 5:57am Feb 1, 2012 5:57am
Quoting Pokemon
XAGUSD(Silver)
Not bad pinbar(not broken yet)+78.6 fibo+161 fibo+resistance
Please rate it.

Attachment
Looking at it on my charts i dont see much reason to enter long or short at the moment. It's an interesting area to watch though.
The strong bullish PA towards this current area is enough to get me thinking long here but i'd want to see that level broken first, along with some PA to support it. I'm sure some more senior people than me could offer more on this?

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  • #106,619
  • Feb 1, 2012 6:04am Feb 1, 2012 6:04am
Quoting Pinbar
Half off the table and BE+

This may be an M15 setup but, it is a monthly TF area.
Very bold! you've learned this stuff well PB... how long you been using J16 now? I'm currently stuck with consistency. I'm ok on daily and above and have moved down a TF or two and am getting caught out much more now.
  • #106,620
  • Feb 1, 2012 6:04am Feb 1, 2012 6:04am
Quoting beebolbod
Please take those cherries off your charts.... personally speaking i ignore your charts solely based on the cherries. I just cant see clearly what's going on.
This.

Quoting Pokemon
XAGUSD(Silver)
Not bad pinbar(not broken yet)+78.6 fibo+161 fibo+resistance
Please rate it.
Also:

 

  1. There isn't a protruding tail on the pin bar.
  2. The bar failed to close below clear support and strong PPZ below at 33 RN
  3. The bar is not of any significant size, in comparison to it's previous bars on the run up to your level (check out the daily BUOBars 5/8 days to the left)
  4. Your fib levels are debatable. Most would agree that only the 38.2, 50 and 61.8 are worth using (if any)


This is not an A+ trade, which is what we're looking for.

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