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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

  • #110,641
  • Apr 23, 2012 1:13pm Apr 23, 2012 1:13pm
Any body watching NZDUSD H4?

We have a nice pin bar and confluence at .81 RN. It's a swing low. Only problem is the resistance that could have been developed now at .81213.

Any thoughts?
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  • #110,642
  • Apr 23, 2012 1:54pm Apr 23, 2012 1:54pm
Quoting DBallerz
Any body watching NZDUSD H4?

We have a nice pin bar and confluence at .81 RN. It's a swing low. Only problem is the resistance that could have been developed now at .81213.

Any thoughts?
First question you got to ask yourself :
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hint : price already bounced from it !
  • #110,643
  • Apr 23, 2012 1:57pm Apr 23, 2012 1:57pm
Quoting DBallerz
Any body watching NZDUSD H4?

We have a nice pin bar and confluence at .81 RN. It's a swing low. Only problem is the resistance that could have been developed now at .81213.

Any thoughts?
Can't post charts right now, but will try to later. I think the resistance area you have marked is awfully close and looks to be potentially strong resistance. I would have liked to see price go lower creating more space before that FTA....or (less preferably) the close above the resistance in the consolidation area. This looks like one of those that would have to managed very closely based on market conditions.
  • #110,644
  • Apr 23, 2012 3:07pm Apr 23, 2012 3:07pm
Quoting DBallerz
Any body watching NZDUSD H4?

We have a nice pin bar and confluence at .81 RN. It's a swing low. Only problem is the resistance that could have been developed now at .81213.

Any thoughts?
i wasnt at the pc so i missed it.

not the best pin but still profitable, target would be 1.8150 (strong resistance) imho.
  • #110,645
  • Apr 23, 2012 3:40pm Apr 23, 2012 3:40pm
Quoting DBallerz
Any body watching NZDUSD H4?

We have a nice pin bar and confluence at .81 RN. It's a swing low. Only problem is the resistance that could have been developed now at .81213.

Any thoughts?
Sorry for the stupid question but something is annoying me...
I have 2 MT4 opened right now, with 2 different brokers.
One show the above mentioned PB, while the other not...
What the *ù/§! the reason can be??
I don't get it..

And, more importantly maybe: if there are such differences among brokers, we'll certainly fall into false positive & false negative... won't we?...
Slow & steady
  • #110,646
  • Apr 23, 2012 3:46pm Apr 23, 2012 3:46pm
Quoting patapouer
Sorry for the stupid question but something is annoying me...
I have 2 MT4 opened right now, with 2 different brokers.
One show the above mentioned PB, while the other not...
What the *ù/§! the reason can be??
I don't get it..

And, more importantly maybe: if there are such differences among brokers, we'll certainly fall into false positive & false negative... won't we?...
can you post a pic so we can all see what's the real difference?
  • #110,647
  • Apr 23, 2012 3:56pm Apr 23, 2012 3:56pm
Quoting R3ta
can you post a pic so we can all see what's the real difference?
Sure.
Pic 1 is the one I have on my MT4 station with TradeFort broker.
Pic 2 is the one with FxOpen.

There is a clear pinbar on pic 2, which is not on pic 1...

Please apologize, zooms and templates are not similar. Just did it rapidly...

Thanks for your help

Edit: just an idea. Could it be a question of server time?
I know they both are on different time zones. respectively GMT and GMT+2, if I am correct...
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Slow & steady
  • #110,648
  • Apr 23, 2012 3:57pm Apr 23, 2012 3:57pm
Quoting patapouer
Sorry for the stupid question but something is annoying me...
I have 2 MT4 opened right now, with 2 different brokers.
One show the above mentioned PB, while the other not...
What the *ù/§! the reason can be??
I don't get it..

And, more importantly maybe: if there are such differences among brokers, we'll certainly fall into false positive & false negative... won't we?...
Different brokers have days that end at different times. Some are on London time, some are on NYC time etc etc. That's why you have a difference in the candles. That's why bigger price action = more people across the board will notice the price change and it is more clear.
  • #110,649
  • Apr 23, 2012 3:58pm Apr 23, 2012 3:58pm
Quoting patapouer
Sure.
Pic 1 is the one I have on my MT4 station with TradeFort broker.
Pic 2 is the one with FxOpen.

There is a clear pinbar on pic 2, which is not on pic 1...

Please apologize, zooms and templates are not similar. Just did it rapidly...

Thanks for your help

Edit: just an idea. Could it be a question of server time?
I know they both are on different time zones. respectively GMT and GMT+2, if I am correct...
They both show the same signal basically. If you put the two bars together that you highlighted, you will get a pin bar.
  • #110,650
  • Apr 23, 2012 4:07pm Apr 23, 2012 4:07pm
Quoting DBallerz
They both show the same signal basically. If you put the two bars together that you highlighted, you will get a pin bar.
Thanks DBallerz.

As if it wasn't difficult enough to digest that thread...
On the other hand, your answer drives the question of people selling/buying - which is the basis of the forex. I tend to forget this...

Basically, there might be false negative but not false positive. And false negative can be overcome by a bit of eye practice (your "pool the bars, they'll make a PB" stuff).

good to know

Thanks again for your help!
Slow & steady
  • #110,651
  • Apr 23, 2012 4:12pm Apr 23, 2012 4:12pm
HI Guys,

DO you think this is worth keeping a lookout for.

Price wedging in and trading around resistance area 1.278. break up could be profitable but not the Break down as there are lots of trouble areas.

Wat do you guys think?

-H
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  • #110,652
  • Apr 23, 2012 4:21pm Apr 23, 2012 4:21pm
Quoting goldfish3
HI Guys,

DO you think this is worth keeping a lookout for.

Price wedging in and trading around resistance area 1.278. break up could be profitable but not the Break down as there are lots of trouble areas.

Wat do you guys think?

-H
if it breaks it might easily go to 1.3000.
  • #110,653
  • Apr 23, 2012 4:43pm Apr 23, 2012 4:43pm
Mike Lord

Hello

Your opinion about gold .

And your G/CAD
Please


Thanks for the feedback

Sorry for my bad English
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  • #110,654
  • Apr 23, 2012 4:47pm Apr 23, 2012 4:47pm
Quoting Yehuda Sh
Mike Lord

Hello

Your opinion about gold .

And your G/CAD
Please


Thanks for the feedback

Sorry for my bad English
Lots of traffic and a small pin that is not a swing low. Easy pass.
  • #110,655
  • Apr 23, 2012 4:51pm Apr 23, 2012 4:51pm
Quoting triger88990
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

thanks ghous good to be back

and I will have to check this out trig while I relax this weekend
  • #110,656
  • Apr 23, 2012 4:56pm Apr 23, 2012 4:56pm
Quoting Yehuda Sh
Mike Lord

Hello

Your opinion about gold .

And your G/CAD
Please


Thanks for the feedback

Sorry for my bad English
Hey Yehuda

Yep this is a tiny pin(it may not even close as a pin) in a sideways market. Looks like were squeezing down which can be a sign of a breakout to the topside coming. I would rather watch how price reacts near that descending tl and the 1650 level

Gbp/cad is still a VERY choppy mess as it has been for a very long time.

We can trade in chop, but remember the more choppy something is the more problem areas we have to watch out for and the more vigilant we should be in protecting ourselves

Best
Mike
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  • #110,657
  • Apr 23, 2012 5:01pm Apr 23, 2012 5:01pm
Quoting Yehuda Sh
Mike Lord

Hello

Your opinion about gold .

And your G/CAD
Please


Thanks for the feedback

Sorry for my bad English
i would prefer to look at silver.

might test 31.15 before go down again, but this is a tough trade. must be handled carefully.
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  • #110,658
  • Apr 24, 2012 4:24am Apr 24, 2012 4:24am
Where did everyone go? 11 hours without a post, must be a record
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  • #110,659
  • Apr 24, 2012 6:00am Apr 24, 2012 6:00am
Quoting willf
Where did everyone go? 11 hours without a post, must be a record
Nice Pic !
Human
  • #110,660
  • Apr 24, 2012 6:06am Apr 24, 2012 6:06am
Hey Mike , Plz give me your point of view on this stuff . How does James16 material teaches us to treat with the trend lines ? I mean long term trend line , I get it , Channels , I get it , Using all kinds of trendlines for confluence of support and resistance , I get that too . But whats causing me trouble is , SHORT TERM TRENDLINES BREAK OUTS . See , below are the two charts I had been looking at yesterday . Just looking , and trying to expand my trading tools ... See how both of them behaved . What went wrong ?
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Human
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