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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

  • #109,661
  • Mar 31, 2012 3:39pm Mar 31, 2012 3:39pm
Quoting jarroo
lol . . . . .I will make sure every light is ON at that time . .people don't believe in this stuff any more..do they?

As a hopeless idealistic romantic i was enjoying those dark moments listening to this tune on my big ass 500W speakers: LOL

Inserted Video


  • #109,662
  • Mar 31, 2012 3:51pm Mar 31, 2012 3:51pm
Quoting Greenhaze
As a hopeless idealistic romantic i was enjoying those dark moments listening to this tune on my big ass 500W speakers: LOL

http://www.youtube.com/watch?gl=US&h...v=nVw9gsNFZlA&

Cool video GH. .

Here's something to think about . .volcanoes like the Eyjafjallajökull, Grimsvötn, etc . . not only spew out smoke and ash but tons of pollutants and toxic chemicals.

About 50-60 volcanoes erupt every year. 20-30 are effusive (lava flows), 20-30 are explosive. Not counting the volcanoes under the sea. This has been going on, more or less, for not 10,000 years .. not 100,000 years . .but millions of years.

I believe our minds can't truly comprehend how long that really is. Yet the atmosphere of the Earth is very livable . .

. . .you would think we would be living in total darkness with that many millions of years of accumulated pollution. . .compared to the pittance that man produces.



Jim
Indicators show the past. Price Action "Indicates" the future.
  • #109,663
  • Mar 31, 2012 3:57pm Mar 31, 2012 3:57pm
True, true

But!

As a slave to the eletricity, internet, lights, tv, hair dryer, pc, washer, hi-fi, lo-fi, toaster.... i found it somehow refreshing
  • #109,664
  • Mar 31, 2012 4:02pm Mar 31, 2012 4:02pm
Quoting Greenhaze
True, true

But!

As a slave to the eletricity, internet, lights, tv, hair dryer, pc, washer, hi-fi, lo-fi, toaster.... i found it somehow refreshing

Understandable . .

. .I just got a kick out of everyone lighting candles . .lol . .a bit contradictory . .don't you think . . lol
Indicators show the past. Price Action "Indicates" the future.
  • #109,665
  • Edited 4:27pm Mar 31, 2012 4:15pm | Edited 4:27pm
Quoting Pinbar
The consolidation boxes, the PPZ and the 150 were working against this PB from the start. This combined with the weekly BEOB, was just too much to expect from that PB. I actually think it did hit its FTA.

Had this bar closed above this area, it may have been a different story.
The higher TFs and zooming our more and recommended.


Hope this helps
Hey Steve, we knew a little why that PB didn't work out and you say, "we want to trade away from the PPZ level and 150 ema, not into them" . .well, there's your signal to short . .
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Indicators show the past. Price Action "Indicates" the future.
  • #109,666
  • Mar 31, 2012 4:49pm Mar 31, 2012 4:49pm
Quoting Pinbar
Morning Jarroo

This PB was not a good entry, although your classic TT at the 130.714 would have worked well.

I am wondering why you appeared to be more interested in the 129.500 than the 130.714 area.

Doesn't the that monthly LCS at 130.714 trump the 129.500?

Or is this the case of you considering to be washed out over time?
Which brings me to the next question which I shall post in a separate post.
I like the 129.50 more because its more near term or recent. These strong levels will get "washed out" over time but its more so the traffic that builds around them over time.

I have found they can be reactivated once the clutter and traffic disappears . . . .

. . .Yes, you guess it . . .Space.

That wonderful Space that James16 and Mike talk about, will reactivate these strong levels.
Indicators show the past. Price Action "Indicates" the future.
  • #109,667
  • Mar 31, 2012 7:48pm Mar 31, 2012 7:48pm
Quoting jarroo
I like the 129.50 more because its more near term or recent. These strong levels will get "washed out" over time but its more so the traffic that builds around them over time.

I have found they can be reactivated once the clutter and traffic disappears . . . .

. . .Yes, you guess it . . .Space.

That wonderful Space that James16 and Mike talk about, will reactivate these strong levels.
Thanks Jim, for the other two replies also.

Yes, space. I remember reading you say, "I will look over to the left more if there is a lot of space".
  • #109,668
  • Mar 31, 2012 8:43pm Mar 31, 2012 8:43pm
Quoting jarroo
I like the 129.50 more because its more near term or recent. These strong levels will get "washed out" over time but its more so the traffic that builds around them over time.

I have found they can be reactivated once the clutter and traffic disappears . . . .

. . .Yes, you guess it . . .Space.

That wonderful Space that James16 and Mike talk about, will reactivate these strong levels.

I hear you. I think this 91.84 level is interesting as it is on multi time frames, namely the monthly & weekly.

That provokes the question.
When does space become, too much space, and work against us?.
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  • #109,669
  • Apr 1, 2012 3:13am Apr 1, 2012 3:13am
Quoting Pinbar
I hear you. I think this 91.84 level is interesting as it is on multi time frames, namely the monthly & weekly.

That provokes the question.
When does space become, too much space, and work against us?.
Thats a good question pb.
Think like a person who is willing to buy the retest of breakout area. Will that person be still interested after 5 months when inbetween price fulfilled his expectations and reached all the targets?
  • #109,670
  • Apr 1, 2012 3:22am Apr 1, 2012 3:22am
Quoting Pinbar
The consolidation boxes, the PPZ and the 150 were working against this PB from the start. This combined with the weekly BEOB, was just too much to expect from that PB. I actually think it did hit its FTA.

Had this bar closed above this area, it may have been a different story.
The higher TFs and zooming our more and recommended.
Quoting ghous
You were trading directly into the BRN 1.04. Big as in very responsive. You can see how the pin bar despite being a pin bar, failed to close above the 1.04 BRN and that's a very strong clue that there is still some if not a lot of resistance there. Notice how the next bar tries to test the level again and failed miserably.

We need to be aware of these round number price levels on our charts. Believe me price at times won't even need a PPZ or any additional confluence at a RN and yet bounce to the pip significantly. Trades that are running into...
Quoting Greenhaze
Hi Quezoy,

Its my take on it with description on chart.
Based on you answers guys, I'd like to know how would you play this pinbar.
You see this situation and say to yourself:
a) Nice pin, but to much is working against it.
b) Nice pin, I'll take it, but be very cautious because much is working against it.

I'd basicly like to know if this is a clear no-no situation or was it playable?
Thoughts are things
  • #109,671
  • Apr 1, 2012 4:52am Apr 1, 2012 4:52am
aapl
maybe the end of the strong upmove?
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meine augen sind die sterne
  • #109,672
  • Apr 1, 2012 8:44am Apr 1, 2012 8:44am
Quoting Quezoy
Based on you answers guys, I'd like to know how would you play this pinbar.
You see this situation and say to yourself:
a) Nice pin, but to much is working against it.
b) Nice pin, I'll take it, but be very cautious because much is working against it.

I'd basicly like to know if this is a clear no-no situation or was it playable?
I'd go for A here, not that I see the pin bar didn't work and it makes me look cool to say I avoided it like a pro but because the FTA of 1.04 being so close, would make any kind of trade management, to curtail the risk on the trade, near impossible.

However I clearly don't belong to the school where I would want a 200 pip trade or nothing. I am fine with 50 pips of full profit at a close by strong FTA on a 200 pip pin bar but I am not sure what kind of trade management would allow for trading a pin bar that's heading into trouble right from the break.

Again guys we're not looking to trade money, we're looking to trade smart. Money follows the smart one way or the other

g.
I believe . . .
  • #109,673
  • Apr 1, 2012 9:01am Apr 1, 2012 9:01am
Quoting Quezoy
Based on you answers guys, I'd like to know how would you play this pinbar.
You see this situation and say to yourself:
a) Nice pin, but to much is working against it.
b) Nice pin, I'll take it, but be very cautious because much is working against it.

I'd basicly like to know if this is a clear no-no situation or was it playable?
Hi Quezoy

I think in this case, if the close of the pin AND the right eye closes beyond the PPZ, then its time to go. Although the pin is broken, i will wait for the close of the right eye (since it is so close to the PPZ). Nice pins are everywhere, but it is the situation that validates it. Semi-poor pins sometimes work just because of the factors surrounding it. And i know some guys here dun need PA at all! Just the surrounding factors!

I think one of jims word were "Never trade into a pivot zone" (seems like the case here)

But hey, what do i know, its just my view, i never trade forex before in my life!

Duckie
  • #109,674
  • Apr 1, 2012 9:01am Apr 1, 2012 9:01am
Quoting Pinbar
I hear you. I think this 91.84 level is interesting as it is on multi time frames, namely the monthly & weekly.

That provokes the question.
When does space become, too much space, and work against us?.
just to share my view....

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94.2x 50 % fib
Hero calls followed by margin calls...
  • #109,675
  • Apr 1, 2012 9:04am Apr 1, 2012 9:04am
Quoting aserbfx
aapl
maybe the end of the strong upmove?
always tough to trade without history data..... although price action suggests some possible short moves, indeed ....

i'd wait for either a nice pinbar or a confirmed double top to squeeze this one out

FA wise i wouldn't sell Apple... bitchmove

why try to pick a hero short in such an uptrend ? ...better switch to different pairs/stocks ..

regards,
Jonas
Hero calls followed by margin calls...
  • #109,676
  • Apr 1, 2012 9:14am Apr 1, 2012 9:14am
Quoting aserbfx
aapl
maybe the end of the strong upmove?

http://www.forexfactory.com/attachme...1&d=1333273965

I agree so... fake uptrust with heavy vol spotted..
This kind of move is manipulated by BB for unsuspecting traders to the Lala Land before it slides back..

555 seem next stop..


Sonic
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  • #109,677
  • Apr 1, 2012 9:44am Apr 1, 2012 9:44am
Quoting sonicdeejay
I agree so... fake uptrust with heavy vol spotted..
This kind of move is manipulated by BB for unsuspecting traders to the Lala Land before it slides back..

555 seem next stop..


Sonic
Sonic!

Long time bro.

Thanks for stopping by

g.
I believe . . .
  • #109,678
  • Apr 1, 2012 10:40am Apr 1, 2012 10:40am
Quoting Pinbar
I hear you. I think this 91.84 level is interesting as it is on multi time frames, namely the monthly & weekly.

That provokes the question.
When does space become, too much space, and work against us?.

I don't see Price working against you in Space . . .quite the opposite. You then must following the Close of Price to determtne either Support or Resistance . your Chf/Jpy is a great example . .I really don't know what the problem is . .sorry . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,679
  • Apr 1, 2012 10:55am Apr 1, 2012 10:55am
Quoting PhAnTi'
just to share my view....

Attachment

94.2x 50 % fib

That's all I'm saying, PhAnTi' . . . .nice chart. . .
Indicators show the past. Price Action "Indicates" the future.
  • #109,680
  • Apr 1, 2012 12:16pm Apr 1, 2012 12:16pm
Quoting mbqb11
Hey Heaven,

If price breaks under the first box there is a good chance the 130 could act as resistance. Previous support flipping to resistance or a PPZ. Now we don't just blindly buy or sell out of these boxes, so I would be looking for more information. This may be a price bar tip off, or another story that begins to form. Then yes price could then be contained within the previous box.

I am about to post 3 charts. They are all based on the first chart I posted on the gbp/usd a few days back here

Think of the gbp/jpy in a similar fashion...
Yes Mbqb.....I have seen your posts. thanks for pointing them again. tying to get some idea from them how to develop a potential BOX.
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