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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

  • #112,641
  • Jun 5, 2012 12:59am Jun 5, 2012 12:59am
Quoting jarroo
Not that surprising Pinbar . .your Weekly chart shows mutlple Weekly Closes Above that level. . .Yes indeed, it has a nice history . .
Sorry, that was meant to read, "Would not be surprised to see it break long".

Hence the consolidation box and TL.
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  • #112,642
  • Jun 5, 2012 1:00am Jun 5, 2012 1:00am
Quoting AmareX
Breakout and retest on the trendline? Please comment.
Hi AmareX

I think you've got it right. EA is trading @ strong weekly resistance and this TL breakout&retest might add some fuel to further move down. I was offering it at the shoulder area but D1 close below the 1.277 might be good enough to enter short. Time will tell
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  • #112,643
  • Jun 5, 2012 1:04am Jun 5, 2012 1:04am
Quoting Pinbar
Nice one Jim!

I was watching this in real time.

Could this be one of those reversibles?

That H1 TF BUEOB, of the top of the consolidation area, was awesome.
Yes it has a very good chance of moving down (or re-actng down) from that LCS elevel . . .but how big of a "Bam" will it have? if its minor, we could have some more up side potential.

That Hour big BUOB is the kind of PA Mike like to see . .

Did we pick the Low of the Day (1.0086) . . . .only time will tell.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #112,644
  • Jun 5, 2012 1:05am Jun 5, 2012 1:05am
Quoting jarroo
Bam!! . .how's that for real time . .

Chanya . .we can see that Price is breaking through our targets we now place our S/L under our targets . . .We can take use full or partial postions.

You got to love that small draw down . .at the 1.0086.

The 1.0100 was also a valid entry but at a premium Price.

Initiall S/L could have been placed 25-30 pips below the 1.0086 entry. . .same S/L placement for the 1.0100 entry.
I'm saving those images on for my learning on touch trades!

So the stop loss just below 1.0086? (but how many pips below?)

And your first target would probably be 1.0099?
  • #112,645
  • Jun 5, 2012 1:05am Jun 5, 2012 1:05am
Quoting Greenhaze
Hi AmareX

I think you've got it right. EA is trading @ strong weekly resistance and this TL breakout&retest might add some fuel to further move down. I was offering it at the shoulder area but D1 close below the 1.277 might be good enough to enter short. Time will tell
Thanks Greenhaze, I am also waiting for further confirmation, as its back to the previous ranging zone. A daily close below that area sounds great
" The fool who never traded Demo "
  • #112,646
  • Jun 5, 2012 1:10am Jun 5, 2012 1:10am
Quoting fascist
This trade looks enticing. It has room to go to at least 0.9530 when it breaks 0.9600. Can place a tight 30 pips stop just above today's high so far at 0.9615. Price is currently dancing at the 23.6 fib drawn from the recent up move. 0.9500 is my second target where 38.2 fib is located.

TP at 50 pips away - 0.9530

Attachment

The only worry is the consolidation box to the left. But I feel the bearish move has not be exhausted yet. Given the BEOB at the high and divergence.
My only concern is that PBT&CA the Weekly HCR level(s) . .(damn gaps) . ..9573/.9550 on the Weekly. Could be going up from here . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,647
  • Jun 5, 2012 1:12am Jun 5, 2012 1:12am
Quoting AmareX
Thanks Greenhaze, I am also waiting for further confirmation, as its back to the previous ranging zone. A daily close below that area sounds great
Strenghtning of AUD after the 25bp cut of interest rate is a good sign
  • #112,648
  • Jun 5, 2012 1:15am Jun 5, 2012 1:15am
Quoting fascist
Could this also be a 4 hr touch trade?

Attachment
Possible ..for a bit of a bounce or short term move . .but that HCR level that you have (I believe its .9595) is a 4 hour HCR not a Daily or Weekly .

I use Higher TF levels when I go to the Lower TFs ...
Indicators show the past. Price Action "Indicates" the future.
  • #112,649
  • Jun 5, 2012 1:21am Jun 5, 2012 1:21am
Quoting cold chisel
Yep, but unfortunately I missed the entry short on the 0,9315 yesterday level by a few pips. Oh well, there is still the GBPCHF from the weekly 1,4880 level which I didn't miss. Thank you again, you, James and Mike showed us the way...
We may get another shot at it, chidsel . . at the .9271 on the CadChf.

Some lower TF PA and/or Signatures will be our guide . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,650
  • Jun 5, 2012 1:25am Jun 5, 2012 1:25am
Quoting jarroo
We may get another shot at it, chidsel . . at the .9271 on the CadChf.

Some lower TF PA and/or Signatures will be our guide . .
I am also watching this one, Great potential !
I am in an EurCad short so I am gonna pass this one.
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" The fool who never traded Demo "
  • #112,651
  • Jun 5, 2012 1:26am Jun 5, 2012 1:26am
Quoting Pinbar
Jarroo

As this is a monthly level we are looking at, would you consider these monthly lows and close as the targets?

Thanks Jim

I like it, Pinbar . . . .I have the 0.7612ish level because it lines up with some nice Weekly LCS levels . .I like that 150 ema coming into play too . .
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Indicators show the past. Price Action "Indicates" the future.
  • #112,652
  • Jun 5, 2012 1:29am Jun 5, 2012 1:29am
Quoting AmareX
I am also watching this one, Great potential !
I am in an EurCad short so I am gonna pass this one.
Its not the cleanest of levels . .meaning, not trading into the most openness of Space . .in consolidation. .but I like the level . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,653
  • Jun 5, 2012 1:31am Jun 5, 2012 1:31am
Quoting Pinbar
Sorry, that was meant to read, "Would not be surprised to see it break long".

Hence the consolidation box and TL.
Oh . ok . .I do that all the time . .lol . .miss a few letters here and there.
Indicators show the past. Price Action "Indicates" the future.
  • #112,654
  • Jun 5, 2012 1:32am Jun 5, 2012 1:32am
Quoting jarroo
Its not the cleanest of levels . .meaning, not trading into the most openness of Space . .in consolidation. .but I like the level . .
Yes I get it, I can only imagine what Mike would say to this one
" The fool who never traded Demo "
  • #112,655
  • Jun 5, 2012 1:33am Jun 5, 2012 1:33am
Quoting Pinbar
Jarroo

As this is a monthly level we are looking at, would you consider these monthly lows and close as the targets?

Thanks Jim
Yes, I would consider those valid target levels . .Monthly level, Monthly targets .

Also the Weekly targets too . . Weekly level, Weekly targets . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,656
  • Jun 5, 2012 1:38am Jun 5, 2012 1:38am
Quoting AmareX
Yes I get it, I can only imagine what Mike would say to this one

I know what Mike would say, "Pass." . .lol . .

But I would keep my stop pretty tight and react to targets quickly . .
Indicators show the past. Price Action "Indicates" the future.
  • #112,657
  • Jun 5, 2012 1:39am Jun 5, 2012 1:39am
My EC trade is going good so far, I am still trying to figure out why I took that lol .. it just looked good on the chart despite the previous consolidation areas.
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" The fool who never traded Demo "
  • #112,658
  • Jun 5, 2012 1:39am Jun 5, 2012 1:39am
Quoting jarroo
My only concern is that PBT&CA the Weekly HCR level(s) . .(damn gaps) . ..9573/.9550 on the Weekly. Could be going up from here . .
oh man you are right.. its shooting up now!
  • #112,659
  • Jun 5, 2012 1:52am Jun 5, 2012 1:52am
Quoting fascist
I'm saving those images on for my learning on touch trades!

So the stop loss just below 1.0086? (but how many pips below?)

And your first target would probably be 1.0099?
Your answers are in the post.
Indicators show the past. Price Action "Indicates" the future.
  • #112,660
  • Jun 5, 2012 1:54am Jun 5, 2012 1:54am
Quoting fascist
oh man you are right.. its shooting up now!

Yes it is. .We always got to see what's going on . .on the Higher time frame levels. .
Indicators show the past. Price Action "Indicates" the future.
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