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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

  • #112,581
  • Jun 3, 2012 7:10pm Jun 3, 2012 7:10pm
Quoting mbqb11
updated chart. Classic j16
BEOB off a strong weekly support targeting 1664 and 1710?

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  • #112,582
  • Jun 3, 2012 7:12pm Jun 3, 2012 7:12pm
Keeping my eyes open on NZD/USD
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  • #112,583
  • Jun 3, 2012 8:24pm Jun 3, 2012 8:24pm
Quoting mbqb11
updated chart. Classic j16
Yes, hit its FTA nicely.
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  • #112,584
  • Jun 3, 2012 10:41pm Jun 3, 2012 10:41pm
Quoting fascist
Hello, i have been noticing your style of trading "touch trades" for quite some time.

may i ask how would you have played those 2 set-ups?

where would your stop loss be?

assuming for the first set up where PBT & CB, 1564 would be your limit order to short and 1567 to long for the second set up. do you put ur limit order exactly there or slightly below/above to allow it to fill with a higher probability?
Hey fasc,

There was many ways to manage this trade and where to place your stop loss or have a stop loss indication. . I did not take this trade but if I did, its a setup just like all the rest.

First off, the levels. .

This was a very strong Weekly and Monthly level (Monthly not shown). I would draw every level of this Weekly Lowest Close of Support (LCS) and Highest Close of Resistance(HCR) levels. (Weekly chart).

This is a very strong higher TF level and can be traded in either direction. We just follow the Close of Price. I used the Daily Price Breaking Through and Closeing Above or Below (PBT&CAorB) as the indication of these level(s) acting as either Resistance or Support. (Daily chart)


Stop loss can be placed on the other side of the levels(s) depending on where Price Closed on the Daily.

Also, if a Hourly or 4 Hour bar Closes Above on my short or Closes Below on my long at my entry level . .this would also indicate to me to get out of the trade or stay in it. I call these "Hourly Signatures" (or 4 Hour Signatures) . .(limit order).

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #112,585
  • Jun 3, 2012 11:11pm Jun 3, 2012 11:11pm
Quoting Pinbar
I am liking this area on AUD/NZD
Those a good levels Pinbar, but alot of times the more recent levels can be very effective. . .Like these more recent consolidation areas (boxes) and their HCR/LCS levels .

Surprising how price didn't give more of a bounce at the 1.2837 HCR level. . .tells me the down trend is pretty strong.
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Indicators show the past. Price Action "Indicates" the future.
  • #112,586
  • Jun 4, 2012 2:18am Jun 4, 2012 2:18am
Quoting jarroo
Those a good levels Pinbar, but alot of times the more recent levels can be very effective. . .Like these more recent consolidation areas (boxes) and their HCR/LCS levels .

Surprising how price didn't give more of a bounce at the 1.2837 HCR level. . .tells me the down trend is pretty strong.

I was looking at this 1.2817 weekly area, which seems to also be a PPZ.
Perhaps, I am going to far back in time again?
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  • #112,587
  • Jun 4, 2012 5:10am Jun 4, 2012 5:10am
Quoting Pinbar
I was looking at this 1.2817 weekly area, which seems to also be a PPZ.
Perhaps, I am going to far back in time again?
Time is very important. Rising channel since 2009 and price rising since 2002 really. Another view i like to use....
Just my tuppence worth...
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  • #112,588
  • Jun 4, 2012 5:26am Jun 4, 2012 5:26am
Hi All,

Here is one I have taken today. On M1 Price failed to close below Monthly LCS/previous HCR. The close also tested and closed above weekly LCS levels. D1 close on Friday shows a test and rejection of both M1 levels and a PB. This is also off a descending TL.

In lower TF's we can see that the downward momentum has decelerated significantly over the last week or so.

Feedback anyone?

Best,
-H
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  • #112,589
  • Jun 4, 2012 5:37am Jun 4, 2012 5:37am
Do we have some logic here ? I think so .
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  • #112,590
  • Jun 4, 2012 5:49am Jun 4, 2012 5:49am
Mike,can you help me!? Is it correctly?
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  • #112,591
  • Jun 4, 2012 6:59am Jun 4, 2012 6:59am
Quoting Rust
Do we have some logic here ? I think so .
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  • #112,592
  • Jun 4, 2012 7:58am Jun 4, 2012 7:58am
Quoting brzvadeg
Mike,can you help me!? Is it correctly?
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Hey B

Notice how your upper trendline is rising. I don't like to use that for breakout patterns. In this case the rise is very slight so it's more ok, but in general the steeper that rising TL is it could indicate a fade in momentum. My rule is only trading breakouts on horizontal lines or descending TLs for longs only. I know many do this but it's just one of my rules. Also I would be looking for stronger PA signals on the retest, but the logic is correct of breakout and pullback

Best
Mike
  • #112,593
  • Jun 4, 2012 8:17am Jun 4, 2012 8:17am
EUR/JPY

looks like a perfect pinbar setup to me

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  • #112,594
  • Jun 4, 2012 8:33am Jun 4, 2012 8:33am
Quoting Rust
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Cheers
  • #112,595
  • Jun 4, 2012 8:38am Jun 4, 2012 8:38am
Quoting Rust
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Cheers
nice one
  • #112,596
  • Jun 4, 2012 8:39am Jun 4, 2012 8:39am
USD/CAD

ready to drop, SL to BE

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  • #112,597
  • Jun 4, 2012 8:43am Jun 4, 2012 8:43am
Quoting goldfish3
Hi All,

Here is one I have taken today. On M1 Price failed to close below Monthly LCS/previous HCR. The close also tested and closed above weekly LCS levels. D1 close on Friday shows a test and rejection of both M1 levels and a PB. This is also off a descending TL.

In lower TF's we can see that the downward momentum has decelerated significantly over the last week or so.

Feedback anyone?

Best,
-H
Here's what i'm looking to unfold on this pair... broadly in line with your idea m8, i.e. i'm looking for longs but i want to see this H4 QM pattern form before i do. At this TF, and in this area (Daily,weekly and monthly demand) this could be a superb reversal pattern forming.

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  • #112,598
  • Jun 4, 2012 9:06am Jun 4, 2012 9:06am
Quoting beebolbod
as if i'd have given up on this.... hehehe.

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end of channel reached. Target areas for longs destroyed by all the compression highlighted with grey triangle (so naturally i didn't go long). Shorts closed and lets see. If this channel holds (again) we have higher highs on the horizon?
Either way we have a great place now and something to watch with intent. Well i am anyway.
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  • #112,599
  • Jun 4, 2012 9:28am Jun 4, 2012 9:28am
the fib 78.6 is a great one to watch i've discovered from another source. Add it to your places to watch. It's a retest area. Wish i'd been watching this one as the confluence at 78.6 is stupid. This was always going south. I'm in on a retest but it's riskier. We'll see.
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EDIT - 78.6 and 76.4 are from big down move which you cant see from my chart.
  • #112,600
  • Jun 4, 2012 9:30am Jun 4, 2012 9:30am
Quoting beebolbod
the fib 78.6 is a great one to watch i've discovered from another source. Add it to your places to watch. It's a retest area. Wish i'd been watching this one as the confluence at 78.6 is stupid. This was always going south. I'm in on a retest but it's riskier. We'll see.
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EDIT - 78.6 and 76.4 are from big down move which you cant see from my chart.
the 78 fib is one of James16 favorites
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