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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

  • #111,261
  • May 4, 2012 3:28am May 4, 2012 3:28am
Quoting gadogado
EUR/GBP triggered at 0.8178...

Price pullback to LCS Weekly / LCS Monthly and go down... Hit the first TP level, SL to BE... This one got the runner...
Today, Price has hit the second TP level.. SL at BE or can move behind first TP Level..
Looking good gado . . . You can also use the Daily targets (Daily Highs and Lows) to manage your trade.
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Indicators show the past. Price Action "Indicates" the future.
  • #111,262
  • May 4, 2012 4:02am May 4, 2012 4:02am
NFP is today guys . Just to remind you
  • #111,263
  • May 4, 2012 4:37am May 4, 2012 4:37am
Hi, EurCad fromed a pinbar yesterday. It hasn't been broken yet. It closed just under 13000 - would this put you off taking it? If it does break it will be rising over the BRN and also 2 WLCS (for all you Jarroo fans out there). I suppose the question is: would you trade it??
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  • #111,264
  • May 4, 2012 4:51am May 4, 2012 4:51am
Hello fellow PIP-Mongers...

Newbie here. Been reading and studying fairly hard for the last 2 months, trying to get a handle on things. This forum has been an incredible learning experience, wow.

Am I reading the attached chart correctly? Its a EUR/JPY from this AM, a 2 hr chart.

Guys, your input will be greatly appreciated!

Thanks so much,
John
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100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,265
  • May 4, 2012 5:33am May 4, 2012 5:33am
CADCHF looks nice... PPZ rejection.
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all is eternal - this is good news for people who loves bad news
  • #111,266
  • May 4, 2012 5:58am May 4, 2012 5:58am
One to watch next week. (i dont open new positions on a friday!)

USD/JPY - 2 pinbars along a nice S/R zone!. a break below will see me enter short!

Nice and simple!
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  • #111,267
  • May 4, 2012 6:35am May 4, 2012 6:35am
Newbie trying to understand and figure things out...

Why do my charts look so much different as Brixton's above? I mean, I get the different styles of candles and such, but if you look closely, the candles are not the same, either in relative size, bearish/bullish, etc...

Is it me? The 2 charts I have are both Day Charts, and saved mere moments apart.

Can someone help me make sense of it?

Thanks
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100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,268
  • May 4, 2012 6:48am May 4, 2012 6:48am
I see what you mean...

what data does your chart show on yesterdays bar...?

Mine shows


Open 80.1870
High 80.5530
Low 80.1360
Close 80.1460

Maybe our bars close at different times!

Im in the UK but I think my bars may close at Midnight (US) EST
  • #111,269
  • May 4, 2012 7:04am May 4, 2012 7:04am
Quoting Leftyjh
Newbie trying to understand and figure things out...

Why do my charts look so much different as Brixton's above? I mean, I get the different styles of candles and such, but if you look closely, the candles are not the same, either in relative size, bearish/bullish, etc...

Is it me? The 2 charts I have are both Day Charts, and saved mere moments apart.

Can someone help me make sense of it?

Thanks
Different brokers with different open/close times. Wouldn't worry too much about it.
  • #111,270
  • May 4, 2012 7:44am May 4, 2012 7:44am
Quoting willf
Different brokers with different open/close times. Wouldn't worry too much about it.
Well, not that I am worried about it, its just that if charts cannot be duplicated, then everyone has different info, how can someone make a wise decision?

Thats all my point is.
100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,271
  • May 4, 2012 7:53am May 4, 2012 7:53am
Quoting Brixton
I see what you mean...

what data does your chart show on yesterdays bar...?

Mine shows


Open 80.1870
High 80.5530
Low 80.1360
Close 80.1460

Maybe our bars close at different times!

Im in the UK but I think my bars may close at Midnight (US) EST

Open 80.119
Close 80.160
High 80.544
Low 80.089

My charts are on different times...
FXMC is on GMT -5, (EST)
MT4 is on GMT +1 (Bottom one)

Hope this helps, because I am not seeing what you are seeing!
100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,272
  • May 4, 2012 8:01am May 4, 2012 8:01am
Quoting Leftyjh
Well, not that I am worried about it, its just that if charts cannot be duplicated, then everyone has different info, how can someone make a wise decision?

Thats all my point is.
On the daily and weekly charts a good setup will usually show even if brokers times are a few hours out.

Four hour and lower you may see some differences. Some may get a pin bar for example whilst others get an outside bar. No big issue, both are kind of showing the same information just in a different way. And it's not always about the bar it's about the location.
  • #111,273
  • May 4, 2012 8:01am May 4, 2012 8:01am
Quoting Leftyjh
Well, not that I am worried about it, its just that if charts cannot be duplicated, then everyone has different info, how can someone make a wise decision?

Thats all my point is.
Hey Lefty

Forex is not a centralized market so there is no set open and close time. But price itself is the same. Price never changes it's only the way those bars are aggregated together. The success comes in understanding price, what we call confluence, location or I call the story of price. Many of us like to use a 5pm et close, but I know many who use a 7, 8, even a 12 close. Once we learn how it's all about so many different factors and not just the bar then it becomes easy to understand that the aggregation of the bars will not impact you too greatly.

Pick a close you are comfortable with, I do prefer the 5pm because to me that is closest to the end time of the NY session

Welcome to the thread
Mike
  • #111,274
  • May 4, 2012 8:42am May 4, 2012 8:42am
Quoting Leftyjh
Open 80.119
Close 80.160
High 80.544
Low 80.089

My charts are on different times...
FXMC is on GMT -5, (EST)
MT4 is on GMT +1 (Bottom one)

Hope this helps, because I am not seeing what you are seeing!

Yea, even though i'm in London. I use New York as my close of day, because thats when the volume lowers for a bit until london opens again. I also trade US Shares too.
  • #111,275
  • May 4, 2012 8:53am May 4, 2012 8:53am
Pin bars have been broken to trigger a sell, however the 79.60 has provided previous s/r, so i may wait to see if this breaks on monday before entering a short. Its too late on a Friday to enter a new position now.
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  • #111,276
  • May 4, 2012 8:55am May 4, 2012 8:55am
close up of the current price action! Ignore the fibs, they don't seem to be in play!
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  • #111,277
  • May 4, 2012 9:30am May 4, 2012 9:30am
Quoting meshka
CADCHF looks nice... PPZ rejection.
Took it in the morning, but now i'm already out (literally a few minutes ago i left this trade). I don't want any trade open for weekend...
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  • #111,278
  • May 4, 2012 9:34am May 4, 2012 9:34am
Quoting rafstraszek
Took it in the morning, but now i'm already out (literally a few minutes ago i left this trade). I don't want any trade open for weekend...
well done Raf, nice clean simple and logical!

here was my chart

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  • #111,279
  • May 4, 2012 10:08am May 4, 2012 10:08am
Quoting mbqb11
nice wedge, Daily rising TL, price squeezed, BUOB swing low,
gone to breakeven now, see if we can push higher into descending daily TL
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  • #111,280
  • May 4, 2012 10:34am May 4, 2012 10:34am
NZDUSD touched nice lvl...
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