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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

  • #110,621
  • Apr 23, 2012 12:44am Apr 23, 2012 12:44am
Quoting mbqb11
Finally back and boy am I wiped out!

Time to catch up on what I missed, if you emailed or PMed me I am going to get through those as soon as possible

Hope everyone was good while I was gone

Mike
Its good to have you back sir.

g.
I believe . . .
  • #110,622
  • Apr 23, 2012 12:44am Apr 23, 2012 12:44am
After following the thread for a while, here is my first post. I would like your input on the following chart:

GU H4. I marked the pinochio bar I saw, but I didn't take the trade. Why? The purple lines are from daily, the grey ones from weekly. I figured that price wants to reach the weekly level first. Momentum upwards is still strong IMHO.

Nevertheless, the trade, if taken @ 1.6102, S/L 1.6148 would be at B/E by now...

Did one of you take the trade, and what is his/her rationale? Thanks in advance,

LD
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Fail better.
  • #110,623
  • Apr 23, 2012 1:05am Apr 23, 2012 1:05am
Quoting LarryDarrell
After following the thread for a while, here is my first post. I would like your input on the following chart:

GU H4. I marked the pinochio bar I saw, but I didn't take the trade. Why? The purple lines are from daily, the grey ones from weekly. I figured that price wants to reach the weekly level first. Momentum upwards is still strong IMHO.

Nevertheless, the trade, if taken @ 1.6102, S/L 1.6148 would be at B/E by now...

Did one of you take the trade, and what is his/her rationale? Thanks in advance,

LD
I took this trade short due to to MACD divergence long term on the daily. Key PPZ of 1.61 to 1.615 (19 month high) wedging of the TL and the last hours momentum of Friday last week suggested to me that a bull trap was being formed. I also belived in the bull trap because last week liquidity was low sue to easter holidays and not all majoy players (bears in this case) were participating in the market. Today the whole shindig is dancing.

Also now if you notice on the 4 hour since last friday, the amalgamated 24 hour bars are forming a PB. Although I did not wait on PA to enter this one.

short from 1.613. First target 1.605. Second 1.601

Best,
-H

Edit: Forgot to mention that fibs line up for a retrace as well. to 38.2
  • #110,624
  • Apr 23, 2012 1:06am Apr 23, 2012 1:06am
Quoting LarryDarrell
After following the thread for a while, here is my first post. I would like your input on the following chart:

GU H4. I marked the pinochio bar I saw, but I didn't take the trade. Why? The purple lines are from daily, the grey ones from weekly. I figured that price wants to reach the weekly level first. Momentum upwards is still strong IMHO.
The level you have drawn as daily I have marked as weekly.
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Thoughts are things
  • #110,625
  • Apr 23, 2012 1:29am Apr 23, 2012 1:29am
Goldfish, Quezoy, thank you for your input. I'll try to find your remarks on my charts.
Concerning my weekly lines, they originated from events farther to the left, see other chart:


But of course I'm still not very certain if I draw my lines correctly...

Best, LD
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Fail better.
  • #110,626
  • Apr 23, 2012 1:33am Apr 23, 2012 1:33am
Quoting mbqb11
Finally back and boy am I wiped out!

Time to catch up on what I missed, if you emailed or PMed me I am going to get through those as soon as possible

Hope everyone was good while I was gone

Mike

Yo Mike what's up

I was thinking to take your place and replace you for the time you where off but there's just too much headache involved....passs.......... just joking

Knowing you're a big fan of Jack Schwager's books, did you know about his new book releases, I know it will make you happy.

all the best!

http://amzn.to/Jkx8YU

http://www.wiley-vch.de/books/tis/co...1118273044.jpg
  • #110,627
  • Apr 23, 2012 2:02am Apr 23, 2012 2:02am
Quoting LarryDarrell
Concerning my weekly lines, they originated from events farther to the left, see other chart
I see...
Well, I myself am also not skilled at determining levels, but I primary look for the closest weekly levels and keep an eye on them - closest weekly HCR/LCS.

May be that the level you've marked is stronget them mine, but for now its further away and therefore not relevant yet.

Anyway, I've recently had a look at ghous' blog and he provides a very nice guide on how to pick the relevant levels.
click

He uses daily chart in his examples but I asume its the same with weekly's.
Thoughts are things
  • #110,628
  • Apr 23, 2012 2:09am Apr 23, 2012 2:09am
Hi,
I've been following a bit the analysis of the CADJPY pair that previous posters have given. Thanks for that!!

I was happy to find a confluence on the 2 Fibs (unless I draw it the other way round??)

I was wondering whether today's bar (assuming the day's over and bar is closed) can be considered as BEOB?

I also wondered about the target the price could reach: would the 0% / 50% of the 2 Fibs, and the 80.00 price make a good spot?
Is there any chance the price could retrace during the downward move?

Anyway, it's very funny to draw lines on a screen and see things happening as expected by people of this thread!

Have a nice week!
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Slow & steady
  • #110,629
  • Apr 23, 2012 2:12am Apr 23, 2012 2:12am
Quoting Quezoy
Anyway, I've recently had a look at ghous' blog and he provides a very nice guide on how to pick the relevant levels.
click
Thanks for pointing his blog!
another valuable source of knowledge to explore... I'll never have enough time to read it all!!
Slow & steady
  • #110,630
  • Apr 23, 2012 3:26am Apr 23, 2012 3:26am
Quoting mbqb11
Finally back and boy am I wiped out!

Time to catch up on what I missed, if you emailed or PMed me I am going to get through those as soon as possible

Hope everyone was good while I was gone

Mike
Yo
What are we playing today
  • #110,631
  • Apr 23, 2012 4:24am Apr 23, 2012 4:24am
Quoting LarryDarrell
After following the thread for a while, here is my first post. I would like your input on the following chart:

GU H4. I marked the pinochio bar I saw, but I didn't take the trade. Why? The purple lines are from daily, the grey ones from weekly. I figured that price wants to reach the weekly level first. Momentum upwards is still strong IMHO.

Nevertheless, the trade, if taken @ 1.6102, S/L 1.6148 would be at B/E by now...

Did one of you take the trade, and what is his/her rationale? Thanks in advance,

LD

That bar is not a bar we would call a Pinbar.
It is basically a Doji, showing indecision in buyers and sellers.

Hope this helps.
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  • #110,632
  • Apr 23, 2012 5:14am Apr 23, 2012 5:14am
Quoting LarryDarrell
After following the thread for a while, here is my first post. I would like your input on the following chart:

GU H4. I marked the pinochio bar I saw, but I didn't take the trade. Why? The purple lines are from daily, the grey ones from weekly. I figured that price wants to reach the weekly level first. Momentum upwards is still strong IMHO.

Nevertheless, the trade, if taken @ 1.6102, S/L 1.6148 would be at B/E by now...

Did one of you take the trade, and what is his/her rationale? Thanks in advance,

LD
heres my gb chart, the weekly shows a ranging market more than a trending one so for me i have no biaz in direction. From the daily it looks a good level(and is) but not the strongest. the price to watch here for me is the 1.6100 level which we broke today and retested. But as the weekly suggests there wasnt a lot of momentum, and was running into a troubled area. As Pinbar mentioned it was only a doji on the 4H and not a pinbar so the indicision showed in the price movement with the small bars after it.(arrow on 4H chart)

in contrast look at the 5min pin on the next charts (ignore the TF just making a point) nice lookin bearish bar witht the nose high above recent highs and the RN, it was quickly rejected and formed the pinbar with a close below the RN, now we have a story.. the break down of a good level and the restest with a bearish biaz and a clear rejection. Still ranging on this TF but now we have a clear entry and a clear target(the lows of the range. for me a better set up than the 4H doji....

hope this helps

jon
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PATIENCE... DISCIPLINE
  • #110,633
  • Apr 23, 2012 5:15am Apr 23, 2012 5:15am
5 min chart...
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PATIENCE... DISCIPLINE
  • #110,634
  • Apr 23, 2012 7:30am Apr 23, 2012 7:30am
Pinbar, Jon, thanks a lot. I see and will look for other setups to discuss.
Fail better.
  • #110,635
  • Apr 23, 2012 9:11am Apr 23, 2012 9:11am
Quoting Quezoy
Pending buy since yesterday over here

Theres also slight divergence.
great one Q,

This is perfect about understanding to trade these bars in a consolidated market. Exactly what James speaks about

I am watching this one for the larger pattern forming too. Wedging up and look and we have the BRN of 1.3 near where the "tip" of this pattern looks to be moving into. Could see a big move out of this one soon


Mike
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  • #110,636
  • Apr 23, 2012 9:57am Apr 23, 2012 9:57am
Quoting Rust
Hi guys , today is my birthday , so i decided to share something very personal. My birthday gift that james16 material gave me - This month's statement :
Attachment

Looks kinky , but ..... just no losses there . Equals 5.5% acc rise.

Cheers guys and thanks for your help !
happy belated Rust!

And you are doing a great job

Mike
  • #110,637
  • Apr 23, 2012 10:05am Apr 23, 2012 10:05am
Quoting beebolbod
Sorry m8, i was off for the weekend. You got your answer from market right?
yup..i did nt take that..scared to go against the prevailing trend it was a well left..
  • #110,638
  • Apr 23, 2012 10:20am Apr 23, 2012 10:20am
Quoting mbqb11
happy belated Rust!

And you are doing a great job

Mike
Thanks master ! Learning from the best
  • #110,639
  • Apr 23, 2012 10:24am Apr 23, 2012 10:24am
Quoting mbqb11
great one Q,

This is perfect about understanding to trade these bars in a consolidated market. Exactly what James speaks about

I am watching this one for the larger pattern forming too. Wedging up and look and we have the BRN of 1.3 near where the "tip" of this pattern looks to be moving into. Could see a big move out of this one soon
Mike
Tnx Mike,

Unfortunately my SL below the low of thursdays candle got triggered today. The gap down was fatal for me
I'm still happy with it, one of my better trades.
Thoughts are things
  • #110,640
  • Apr 23, 2012 10:58am Apr 23, 2012 10:58am
gbp nzd 2.000 is a nice area for some price action. will watch it closely.
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meine augen sind die sterne
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