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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

  • #108,741
  • Mar 13, 2012 5:15pm Mar 13, 2012 5:15pm
The area marked with an arrow looks interesting for a bearish PA???
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SNR with Price Action...
BitCrossNG Return Today: na
  • #108,742
  • Mar 13, 2012 5:18pm Mar 13, 2012 5:18pm
Big buob,
Over a BRN, and a PPZ, with the 150ema as support.
Next stop the 365ma I think.
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  • #108,743
  • Mar 13, 2012 5:18pm Mar 13, 2012 5:18pm
Planning for a second chance to short it. Testing the patience!
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  • #108,744
  • Mar 13, 2012 5:39pm Mar 13, 2012 5:39pm
I am currently working to rebuild the entire site in word press which will give us the ability to post videos every day in the guest side of the site.

Lot of good things coming this year for members and non members alike.

Ive always told people to spend a month or two here first before joining the site. By improving the guest side it should just increase the success rate for members.

I have requested that FF give me the ability to post short mp4 videos but since they usually treat me like crap im not holding my breath.
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  • #108,745
  • Mar 13, 2012 5:51pm Mar 13, 2012 5:51pm
CHART
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  • #108,746
  • Mar 13, 2012 5:54pm Mar 13, 2012 5:54pm
CHART
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  • #108,747
  • Mar 13, 2012 5:58pm Mar 13, 2012 5:58pm
CHART
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  • #108,748
  • Mar 13, 2012 5:59pm Mar 13, 2012 5:59pm
Quoting james16
CHART
Hi James and thanks again for all you've done for all of us !

AUDCAD...a retracement to 1.05 as monthly consolidation resistence, as a personal opinion, is very likely .
Nothing personal,just business
  • #108,749
  • Mar 13, 2012 6:00pm Mar 13, 2012 6:00pm
CHART
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  • #108,750
  • Mar 13, 2012 6:04pm Mar 13, 2012 6:04pm
CHART
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  • #108,751
  • Mar 13, 2012 6:10pm Mar 13, 2012 6:10pm
CHART
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  • #108,752
  • Mar 13, 2012 6:10pm Mar 13, 2012 6:10pm
Quoting james16
I am currently working to rebuild the entire site in word press which will give us the ability to post videos every day in the guest side of the site.

Lot of good things coming this year for members and non members alike
Looking forward to it Jim!
  • #108,753
  • Mar 13, 2012 6:15pm Mar 13, 2012 6:15pm
CHART
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  • #108,754
  • Mar 13, 2012 6:18pm Mar 13, 2012 6:18pm
Jim you can always upload them on youtube and link them here!
  • #108,755
  • Mar 13, 2012 6:25pm Mar 13, 2012 6:25pm
CHART
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  • #108,756
  • Mar 13, 2012 6:27pm Mar 13, 2012 6:27pm
Quoting deankenny21
its not confirmed support yet, well for me, i need to have a candle close with a rejection of the level we have had the PBT and CA happen now im waiting for my rule of retrace and rejection, like Jim does. As you can see from my updated chart below we having a rejection now right to the pip on the PPV i have marked so looking very interesting.
Dean,
I know we're going back a bit here. Once the PBT and CA, then a candle closes with a rejection of the level, do you get in then or do you always wait for price action to confirm even though this may miss the move? Do you ever take touch trades or do you always wait for price action?

Thanks
  • #108,757
  • Mar 13, 2012 6:30pm Mar 13, 2012 6:30pm
IF THAT DOESNT GIVE ALL OF YOU CONFIDENCE THEN IM NOT SURE WHAT TO DO.

HERE WAS A QUESTION I GOT TODAY AND I THOUGHT MY ANSWER MIGHT HELP SOME OF YOU.

"Im seeing some of the same setups that you do, so why am I not trading them? Am I not trusting myself ? Am I worrying about the outcome of an individual trade, I hope not. Was I being too picky with this setup? I assume you weren't worried about the BRN then ? This is where the discretionary part seems to become so difficult.


I didn't trade the AUDUSD either, was only a screenshot at my end again.


I feel sooo close.....Whats the missing piece of the puzzle in my head ?"


its very simple. just go 6 months in a row either on demo or with pocket change with all 6 months being winning months. then up your lot size a little more and go another 3 to 6 months and do the same thing again. do the same thing over and over until your at full lot size you want to be at. how long will it take? i dont know but its worth it.
  • #108,758
  • Mar 13, 2012 6:36pm Mar 13, 2012 6:36pm
i know buddy but god ive tried to avoid that route.

Im not ready to meet cavuto. lol

Quoting biDc
Jim you can always upload them on youtube and link them here!
  • #108,759
  • Mar 13, 2012 7:55pm Mar 13, 2012 7:55pm
Quoting heebbyjeeby
Hey Dean buddy,

I was wondering what you thought of these charts? I like getting inside the heads of the senior traders. sorry if i am annoying you.

A nice buob on usdjpy, over an important PPZ, with a RN, and a lot of open space above.

Second is, again, a not great looking pinbar, shape wise on gbpnzd, but in a nice area, PPZ, fib levels and a BRN of 1.90000.
These are fine, but my advisements would be, the USDJPY u mentioned is a continuation trade and not at a swing, which is what we primarly look for, as for the second the fact you said yourself "not a great looking pinbar" should mean a pass already.

But by all means paper trade or watch what happens and not them in your journal, as all experience counts in this game
  • #108,760
  • Mar 13, 2012 8:06pm Mar 13, 2012 8:06pm
Quoting millions
Dean,
I know we're going back a bit here. Once the PBT and CA, then a candle closes with a rejection of the level, do you get in then or do you always wait for price action to confirm even though this may miss the move? Do you ever take touch trades or do you always wait for price action?

Thanks
I always like to have price action confirmation, so if we have a PBT and CA of resistence, i wait for price to go back to the area hoping to hold as support, create some sort of pinbar or buob and then get in, in these cases i will go down to 4hr to see some PA, does not always create price action, but its fine, patience is key and i only want setups im confident with, so thats ones that come along with the PA.

On my logbook this week i have USDJPY pbt ca 82, so waiting for price action at 82, on my feed i have a BUOB recjection at 82, so we know its held as support, next task is too look for targets and trouble areas.

Hope this helps, Dean
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