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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

  • #110,341
  • Apr 16, 2012 2:36pm Apr 16, 2012 2:36pm
i like to see a nice bar pattern here at 80.000.
good area to check for price action setups (H4 and above).
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meine augen sind die sterne
  • #110,342
  • Apr 16, 2012 2:49pm Apr 16, 2012 2:49pm
Quoting Ifmyante
Put a conservative tp on this while away on holiday.

Was good for 25:1, so that's the account up by just over 50% on this trade
Phwoar!
  • #110,343
  • Apr 16, 2012 2:50pm Apr 16, 2012 2:50pm
Quoting Jey
Hey its been a while... how is everyone doing in here? Miss my buddies
Hey Jey! Sure has been a while.

You here to stay?

g.
I believe . . .
  • #110,344
  • Apr 16, 2012 2:54pm Apr 16, 2012 2:54pm
Quoting Jey
Hey Mike whats up? Just dropping by to say hi... its been sometime since I last dropped in here. Looks like your EU trade was stopped out prematurely huh? Is the bias been changed to Long?
Hey Jey

I don't really carry much of a bias, here is how I see it(still valid to watch the 1.3 bottom rising TL. Maybe tomorrow we get a big juicy BEOB. I am only interested in the outer edges of our TL. Good areas to watch often can go either way, so I don't often carry too much of a bias beyond deciding which one I think is more favorable if the trade goes in my favor(like this one with the potential projection down to the last swing low, that's a lot of room to move).

http://www.forexfactory.com/showthre...48#post5577148
http://www.forexfactory.com/showthre...06#post5577806

Good to see you

Mike
  • #110,345
  • Apr 16, 2012 3:00pm Apr 16, 2012 3:00pm
Quoting goldfish3
Just a question for all the folks who were short on EUR/USD. I did not take a position.

I would just like to know the rationale behind the short entries. Its understood that there has been massive confluence around the 1.3 area i.e. as mike mentioned H&S neck like break, strong downtrend since last year etc. but there was no relevant PA to support the fact that price would be going down. Today even the H1 LCS was a good 10 pips above 1.3. I was expecting that everyone here would be waiting for strong PA to close below 1.3 on either H1 or H4...
Ok good question. For me on EURAUD i took the outside bar which closed below 1.26. It broke and retraced then blew right out the top.
EU i took a H1 bearish pin which was crappy but i was looking at it as a little retrace, at worst a bit of chop before going down. Small losses today and a few big-ish wins to offset it thankfully.

I have a shit record with the Euro at the moment.
  • #110,346
  • Apr 16, 2012 3:13pm Apr 16, 2012 3:13pm
Quoting jzd1rc
1. PB off weekly PPZ
2. PB off TL
3. good PB shape
4. Almost 1:1 till potential trouble
5. 38.2 Fib level
bearish close. not very strong. almost same size as previous bar. a clear stay away for me.
meine augen sind die sterne
  • #110,347
  • Apr 16, 2012 3:21pm Apr 16, 2012 3:21pm
Quoting aserbfx
bearish close. not very strong. almost same size as previous bar. a clear stay away for me.
Good Points, Thanks for stoppping me from entering,
That was going to be my first live PA trade on demo account!
  • #110,348
  • Apr 16, 2012 3:30pm Apr 16, 2012 3:30pm
Quoting aserbfx
bearish close. not very strong. almost same size as previous bar. a clear stay away for me.
yep I very much agree aser. A weak close here(or an almost pinbar) is a sign of weakness more times


Don't forget our boxes, Price usually wants to test the major areas of the boxes(tops and bottoms) that puts us closer to 126.50sh for a solid test of the low of the box

http://www.forexfactory.com/showthre...09#post5527609

updated chart below
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  • #110,349
  • Apr 16, 2012 3:33pm Apr 16, 2012 3:33pm
Quoting jarroo
Hey shephrd . .Great charts . . . .and thanks for the kinds words in the comment section of my profile . .I enjoy helping people, just like those that have helped me. . .(i.e. James16, Mike, etc.)


Now to the charts . .

Here is my UshChf chart . . my levels may vary from yours . .I use FxPro for my charting . .they're not that much different from yours.

I like that .9200 level too. Since Price can't close above the .9200 on Friday, its still Resistance and may head down on Monday.

Very similar to what happen on the AudUsd on Friday....
The UsdChf was a tricky one . .Price opened above the level . .that kept be out . .If it opened below the level and Price retraced to it, I would have been in it . .

. .trading in the middle of the market is always a bit tricky . .
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Indicators show the past. Price Action "Indicates" the future.
  • #110,350
  • Apr 16, 2012 3:38pm Apr 16, 2012 3:38pm
Quoting jarroo
My levels were different than yours on the AudCad.

I like the 1.5825-1.5813 as Support levels on the GbpUsd.

Trading within Consolidation can get choppy . ..
No surprise at the 1.5825 LCS level . .Bullish PA there would have been a nice confirmation . .
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Indicators show the past. Price Action "Indicates" the future.
  • #110,351
  • Apr 16, 2012 4:02pm Apr 16, 2012 4:02pm
Quoting beebolbod
Ok good question. For me on EURAUD i took the outside bar which closed below 1.26. It broke and retraced then blew right out the top.
EU i took a H1 bearish pin which was crappy but i was looking at it as a little retrace, at worst a bit of chop before going down. Small losses today and a few big-ish wins to offset it thankfully.

I have a shit record with the Euro at the moment.
Ahh I see. makes sense. It was a small pin but i can see why one might be tempted by it because of the huge potential gains on the short. thanks for the input bee.
  • #110,352
  • Apr 16, 2012 4:26pm Apr 16, 2012 4:26pm
Just looked at the various DT threads and some retail orderbooks. Seems like majority of retail players think EU must go down.

Anybody buying that EJ PB?
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  • #110,353
  • Apr 16, 2012 5:10pm Apr 16, 2012 5:10pm
Quoting Greenhaze
Just looked at the various DT threads and some retail orderbooks. Seems like majority of retail players think EU must go down.

Anybody buying that EJ PB?
I have a buy stop for the CJ pin. Euro is driving drunk and more confluence on CJ I feel. correlation between the 2 is high but CJ tends to be more volatile, looking at the charts. let see.
  • #110,354
  • Apr 16, 2012 5:31pm Apr 16, 2012 5:31pm
I like eurad for long. Trendline + ppz (+1.2600 round number) + outside bar...tp a little below 1.29...although i will probably wait for price to break the candlestick pattern... Any opinions? I would appreciate any comments
And hey everybody!
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  • #110,355
  • Apr 16, 2012 6:38pm Apr 16, 2012 6:38pm
EA 4hr analysis ..looking for PA at this area

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  • #110,356
  • Apr 16, 2012 7:57pm Apr 16, 2012 7:57pm
Quoting Greenhaze
Just looked at the various DT threads and some retail orderbooks. Seems like majority of retail players think EU must go down.

Anybody buying that EJ PB?
Looks good GH, but its got some work to do at the 106. LCS level or targeted level.

Off the LCS level 105.50. 105.50 entry. .a Hourly or 4 Hour close below this entry level would take me out . .
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Indicators show the past. Price Action "Indicates" the future.
  • #110,357
  • Apr 16, 2012 9:08pm Apr 16, 2012 9:08pm
Quoting jarroo
Looks good GH, but its got some work to do at the 106. LCS level or targeted level.

Off the LCS level 105.50. 105.50 entry. .a Hourly or 4 Hour close below this entry level would take me out . .
the EMA nearby worries me..

CHFJPY has the same formation that seems easier to take. limit order at the top of the pinbar and the EMAs.

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However, the weekly has a bearish sign. I wonder if i should take that into account..
  • #110,358
  • Apr 16, 2012 9:19pm Apr 16, 2012 9:19pm
So glad I got out of the long USDCHF position when I did instead of holding onto it and hoping that it broke through and closed above the 92 HCR.

Hey Jarroo,

Just to make sure that I'm understanding correctly, would you have entered a sell limit order at the 0.9196 HCR AFTER the daily close of the bearish bar today?

...or do you mean that if price opened below the HCR today, you would have waited for price to break above the HCR, retrace down to the open, and then entered a market sell order near the open price?

Thanks.

Shep.

Quoting jarroo
The UsdChf was a tricky one . .Price opened above the level . .that kept be out . .If it opened below the level and Price retraced to it, I would have been in it . .

. .trading in the middle of the market is always a bit tricky . .
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #110,359
  • Apr 16, 2012 9:30pm Apr 16, 2012 9:30pm
Jarroo,

Is a touch trade at the 1.5825 LCS validated even more by the daily confirmation of support from several days ago?

Also, is there a number of confirmations of a level that begin to make you worry that price is about to break through a level instead of respect it? For example, this setup had at least two daily confirmations of support, but would more touches of the 1.5825 LCS level make you trust it less? Or is the level always considered strong as long as price cannot close below it?

Thanks.

Shep.

Quoting jarroo
No surprise at the 1.5825 LCS level . .Bullish PA there would have been a nice confirmation . .
"Dare to live the life you have dreamed for yourself. Go forward and make y
  • #110,360
  • Apr 16, 2012 9:53pm Apr 16, 2012 9:53pm
Quoting fascist
the EMA nearby worries me..

CHFJPY has the same formation that seems easier to take. limit order at the top of the pinbar and the EMAs.

Attachment

However, the weekly has a bearish sign. I wonder if i should take that into account..

I agree with taking the break of the ChfJpy PB. . .It would be above LCS and ema. .nothing wrong with waiting for the break . .in fact the PB is not even valid until the PB breaks anyway.

But looking at just the levels and not PA, the LCS entry 87.80 looks good . .
Indicators show the past. Price Action "Indicates" the future.
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