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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

  • #109,461
  • Mar 26, 2012 9:35pm Mar 26, 2012 9:35pm
Quoting 5.25
Hi Meshka

I'm watching a potential retest of 1.32846 on EURUSD. Lines up beautifully on multiple timeframes for a FTB entry.
Here's my story on the Euro, using my bastardized version of Jarroo's stuff.
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  • #109,462
  • Mar 26, 2012 9:51pm Mar 26, 2012 9:51pm
I only discovered this thread a couple of days ago although I've joined FF for about a year now. Better late than never! Am only in 2005, so have a long way to catch up!! I've been trading for a number of years, but still find it very informative...old dogs can still learn new tricks!

Jim, great work for starting this years ago...just sorry I didn't catch on earlier!
  • #109,463
  • Mar 26, 2012 10:23pm Mar 26, 2012 10:23pm
Quoting PinWing
Wisdom in those words!!!, i was trying to runaway fast just from the capital loss, or the drawdawn it could make me into.

I am perfectly fine with my lost opportunity, trust me!!!, besides i already made 5pip profit from that monthly level, ;-). Someday i will catch your runners!!!, lol

Best wishes

Hector

Edit: Hey Jaroo, by 7 pips, 100 pips NOT in my account, kind of regret now!, lol
Hey Hector,

Yeah, there was a few Monthly levels centered around the Monthly LCS level. . .I had the .9995 as the Monthly LCS. Taking a Touch Trade at these Monthly levels once PBT&CAorB can be a tricky. That's what is great about PA.

Once PA is presented on say the Weekly or Daily . .like the Daily bearish PB . .we can work in those levels again, playing off the PA setup . . . and/or other levels and confluences that are presentd. .if that makes sense ..


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #109,464
  • Mar 26, 2012 10:29pm Mar 26, 2012 10:29pm
Quoting Pinbar
Yes, Jim you were right, it blew right through that area right after the news release. Just shows, how news is figured into the charts.

Was there News today? . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,465
  • Mar 26, 2012 10:30pm Mar 26, 2012 10:30pm
Quoting Dan Gilbert
It was a good trade.

Thanks Dan . . good to see you . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,466
  • Mar 26, 2012 10:30pm Mar 26, 2012 10:30pm
Quoting eCurrentz
I only discovered this thread a couple of days ago although I've joined FF for about a year now. Better late than never! Am only in 2005, so have a long way to catch up!! I've been trading for a number of years, but still find it very informative...old dogs can still learn new tricks!

Jim, great work for starting this years ago...just sorry I didn't catch on earlier!
hello Sir eCurrentz,
glad to have u around!

Quoting Donkey
Here's my story on the Euro, using my bastardized version of Jarroo's stuff.
i've never seen such a beautiful way of bastardization
  • #109,467
  • Mar 26, 2012 10:33pm Mar 26, 2012 10:33pm
Quoting Donkey
Here's my story on the Euro, using my bastardized version of Jarroo's stuff.

Bastardize away, my friend.
Indicators show the past. Price Action "Indicates" the future.
  • #109,468
  • Mar 26, 2012 10:41pm Mar 26, 2012 10:41pm
Quoting 5.25
USDSEK: 6.700 is a good area to watch for the Support to Resistance flip IMHO.

One for you exotic fans out there

*Anyone else have their Oanda charts reset to default!?
Hey T, Nice strong level you got there . .bottom LCS of consolidation . .good chance you can remove that "?" on your chart.
Indicators show the past. Price Action "Indicates" the future.
  • #109,469
  • Mar 26, 2012 11:33pm Mar 26, 2012 11:33pm
Quoting PinWing
This is one for the other master in here, Jaroo

This is aud cad. Daily bearish PinBar that has to break a monthly LCS to be in play.

Nice to sit on ur hands and see what happens

Best wishes

Hector
Hey Hector .that's a very valid Monthly level also part of a Weekly consolidation. A bit in the middle of everything which means it could get choppy, but valid nonetheless.

Its nicer when there is some good Space involved . .more room to run. (Weekly chart).

Yes indeed . . interesting dynamic on the Daily . .let's see what happens . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #109,470
  • Mar 27, 2012 12:12am Mar 27, 2012 12:12am
Quoting 5.25
USDSEK: 6.700 is a good area to watch for the Support to Resistance flip IMHO.

One for you exotic fans out there

*Anyone else have their Oanda charts reset to default!?
USDNOK is also in the same pattern. However, USDSEK looks little better than USDNOK from the point of strong resistance at 6.7.
  • #109,471
  • Mar 27, 2012 12:23am Mar 27, 2012 12:23am
Quoting jarroo
Was there News today? . .

There is news out today, I believe but, I was referring to yesterday when the PB broke and started to move.
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  • #109,472
  • Mar 27, 2012 12:33am Mar 27, 2012 12:33am
Quoting Pinbar
There is news out today, I believe but, I was referring to yesterday when the PB broke and started to move.
Yeah, I knew about the News . .this smiley face "" is sarcasm . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,473
  • Mar 27, 2012 12:43am Mar 27, 2012 12:43am
Quoting jarroo
Yeah, I knew about the News . .this smiley face "" is sarcasm . .

Oh, LOL
  • #109,474
  • Mar 27, 2012 12:47am Mar 27, 2012 12:47am
These almost Monthly two bar highs look interesting.
They are in alignment with the WHCR
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  • #109,475
  • Mar 27, 2012 1:30am Mar 27, 2012 1:30am
Quoting 5.25
*Anyone else have their Oanda charts reset to default!?
Hi 5 (high five )

What do you mean by reset to default ?
  • #109,476
  • Mar 27, 2012 1:48am Mar 27, 2012 1:48am
Watching this for shorts and longs here.... 1.2656 is an obstacle on way down.... looking for price to get back down to rising long term TL around 1.25 ish. Recent rising TL broken and 1.28 tested again and again so could be breaking down allowing a short down (for those who dont have the pin play still open).

Then i'd like to see some bull PA in the area indicated.

Just a possible scenario i'm watching for....

Comments anyone?

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  • #109,477
  • Mar 27, 2012 2:00am Mar 27, 2012 2:00am
Quoting Rust
Hi 5 (high five )

What do you mean by reset to default ?
Funny

Oanda removed all my S & R levels and reverted my "candlesticks" to "Min/Max". Pretty much defaulting my charts. Just as long as they don't default my account!

Anyway. No biggie. Kind of refreshing.

"High 5"
  • #109,478
  • Mar 27, 2012 2:14am Mar 27, 2012 2:14am
Quoting cprao
USDNOK is also in the same pattern. However, USDSEK looks little better than USDNOK from the point of strong resistance at 6.7.
Hi Cprao

I agree, quite a few similar formations including: USDNOK, USDSEK, USDDKK, USDGBP & EURGBP. Similar scenarios, different spreads, different market nuances. Obviously it's best to pick which scenario has the strongest story and which is likely to play out the way you intend it to.

Personally, I love trading away from consolidation areas, entry on retest. USDSEK fits to that category, only has the highest spread and a little more choppy. Shame.

Quoting jarroo
Hey T, Nice strong level you got there . .bottom LCS of consolidation . .good chance you can remove that "?" on your chart.
Good chance indeed, but posing questions stimulates discussion

Time will tell.
  • #109,479
  • Mar 27, 2012 2:21am Mar 27, 2012 2:21am
Quoting Donkey
Here's my story on the Euro, using my bastardized version of Jarroo's stuff.
Nicely bastardised Donkey. I have my entry a little tighter, at 1.3287... I want to see a retest of the 1H resistance level too.

Can I ask, why did you place your stop there? Not that I'm discouraging it, only I'm trying to refine my own SL entries as they can be rather wide at times.
  • #109,480
  • Mar 27, 2012 3:08am Mar 27, 2012 3:08am
Quoting beebolbod
Watching this for shorts and longs here.... 1.2656 is an obstacle on way down.... looking for price to get back down to rising long term TL around 1.25 ish. Recent rising TL broken and 1.28 tested again and again so could be breaking down allowing a short down (for those who dont have the pin play still open).

Then i'd like to see some bull PA in the area indicated.

Just a possible scenario i'm watching for....

Comments anyone?

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Hi Bee,
I'm also watching this, but from bearish view. Looking like H&S, retested unsuccesfully the broken neckline. Watching for break at 1.277. Wkly view is a wedge, now in mid of it.
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