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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

  • #111,281
  • May 4, 2012 10:43am May 4, 2012 10:43am
Quoting mbqb11
gone to breakeven now, see if we can push higher into descending daily TL
My only positive trade for this week.
Thoughts are things
  • #111,282
  • May 4, 2012 10:55am May 4, 2012 10:55am
one for the weekend

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Hero calls followed by margin calls...
  • #111,283
  • May 4, 2012 11:36am May 4, 2012 11:36am
Quoting Donkey
I think you've got to watch the 1.65 BRN really closely on this one. Strong support previously...so it could be strong resistance. IF 1.6500 gives we could be well on the way to 1.7000.
touched the 1.65 area and failed, forming something like a shooting star, support seems very strong

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  • #111,284
  • May 4, 2012 11:47am May 4, 2012 11:47am
Nothing like a great level being confirmed by daily.

~80.30 is a logical trouble area.

Today we had a hard equity sell off and bad CAD data which also gave this move a nice push.
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  • #111,285
  • May 4, 2012 12:03pm May 4, 2012 12:03pm
Everyone waiting for the wedge to break... Talk about indecision....

-Have a good wekend all..
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  • #111,286
  • Edited 1:06pm May 4, 2012 12:45pm | Edited 1:06pm
As a newbie, I have done a LOT of reading, re-reading & studying. So the other night I re-viewed the 21909g video from the James16 free area. Yesterday (EST) and this morning, i just couldnt sleep anymore, filled with excitement.

I had been searching and searching for a ranging market, at least in that time frame. I found the EUR/JPY. And I tried to apply what I learned about watching for PIN reversals and looking for S&R. Then just made a trade, and put in my TP at a range that I felt were safe to reach, and not be greedy. It was like a light bulb went off, I knew I was doing right, and I was comfortable my thoughts were correct, both in direction and TP zones. I was not worried when a trade was going the wrong way, because I felt it was going to "come back" anyway, because thats what the chart was "telling me".

Yes, this is "only" a demo account, but without practice, nobody wins. I have been playing around with several demo accounts on different platforms. But it was like all of a sudden, what I have been trying to learn and focus on just came together.

Question is, was I just lucky in this market? Or should I just keep doing what I am doing? What do I need to focus on?

This forum and thread has been an incredible and invaluable learning tool for me. I cannot express this enough. I havent read all messages, but spent about 8 hours a day for 4 days trying!

I will be joining the PF next week, and will continue to practice and learn before I go live.
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100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,287
  • May 4, 2012 1:01pm May 4, 2012 1:01pm
Quoting PhAnTi'
one for the weekend

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Crazy beautiful
Can't believe someone could say this stuff doesn't work ! You only have to figure out a way to use it !
  • #111,288
  • Edited 1:32pm May 4, 2012 1:15pm | Edited 1:32pm
What do you think about EURO/AUD for the next week? Looks like beautiful. Monthly PPZ and pinbar rejected from previous Monthly Support lvl. forming on D1. Forgot a divergenve. No 50% fib a little bit. Preatty much distance to FTA
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If not up, then down, otherwise sideways :-)
  • #111,289
  • May 4, 2012 1:57pm May 4, 2012 1:57pm
Quoting Magestic
What do you think about EURO/AUD for the next week? Looks like beautiful. Monthly PPZ and pinbar rejected from previous Monthly Support lvl. forming on D1. Forgot a divergenve. No 50% fib a little bit. Preatty much distance to FTA
Nicely spotted.
Thoughts are things
  • #111,290
  • May 4, 2012 2:13pm May 4, 2012 2:13pm
cat on daily. s/r and fib. look for price action here.
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meine augen sind die sterne
  • #111,291
  • May 4, 2012 2:44pm May 4, 2012 2:44pm
Quoting trc
What do you think about this pair?
Any reasons to not go short ?
Peter

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Quoting jarroo
No Peter, I can't find a reason not to go short .. . .Targets hitting nicely (in blue, previous Daily Highs and Lows, mainly Lows) . .

. . Great confluences . .

. . same with the EurJpy.

Jim

I guess the market couldn't find a reason not to go short either, Peter . .

Indicators show the past. Price Action "Indicates" the future.
  • #111,292
  • May 4, 2012 2:51pm May 4, 2012 2:51pm
Quoting Rust
Can't believe someone could say this stuff doesn't work ! You only have to figure out a way to use it !
so true my man!!

power of S-D!!


P.S. : some cool charts bro!
Good Luck!
  • #111,293
  • May 4, 2012 3:04pm May 4, 2012 3:04pm
AUD/CAD level of interest , will the support hold?

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  • #111,294
  • May 4, 2012 3:13pm May 4, 2012 3:13pm
GBP/AUD ohh dear what a strong move! the "cup and handle" pattern resolve very well

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  • #111,295
  • May 4, 2012 3:19pm May 4, 2012 3:19pm
Quoting PhAnTi'
one for the weekend

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thanks Jonas, what a beauty

a chart to print out and pin on your wall
  • #111,296
  • May 4, 2012 3:20pm May 4, 2012 3:20pm
Quoting bullzeye
GBP/AUD ohh dear what a strong move! the "cup and handle" pattern resolve very well

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yes! it does!
Quoting aserbfx
nice cup and handle pattern on gbp/aud.
trend continuation pattern. target 1.6000.
and still in play...
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meine augen sind die sterne
  • #111,297
  • May 4, 2012 3:26pm May 4, 2012 3:26pm
Quoting aserbfx
yes! it does!

and still in play...
thanks mate, i remember your post on this one

i was playing this pattern but not long enough
  • #111,298
  • May 4, 2012 3:50pm May 4, 2012 3:50pm
Quoting aserbfx
yes! it does!

and still in play...
long time bro,
how is life bud?

hope all is well in Germany!
  • #111,299
  • May 4, 2012 3:56pm May 4, 2012 3:56pm
Quoting bullzeye
touched the 1.65 area and failed, forming something like a shooting star, support seems very strong

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EUR/NZD i have found a few reasons to go short: 1.65 RN, 150 EMA, bounce of the TL, 38,2 FIB and bearish pin on daily

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  • #111,300
  • May 4, 2012 4:09pm May 4, 2012 4:09pm
Quoting goldfish3
Everyone waiting for the wedge to break... Talk about indecision....

-Have a good wekend all..
Sorry - maybe stupid question. Do you see a break up or break downwards?
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