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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

  • #113,401
  • Jun 19, 2012 4:18pm Jun 19, 2012 4:18pm
Quoting bullzeye
NZD/USD

an area that i look for a short

Attachment

Very nice B, looking at the same thing. If we can get above it then we just look for longs too


Bet
Mike
  • #113,402
  • Jun 19, 2012 4:38pm Jun 19, 2012 4:38pm
Quoting bullzeye
USD/CAD

i took this one short:

- down TL
- BRN 1.0200
- some kind of H&S pattern
- broke the support

Attachment
Looking at this one too Bull but from the 4hr chart myself

Cool charts today from you, thanks


Mike
  • #113,403
  • Jun 19, 2012 4:55pm Jun 19, 2012 4:55pm
AUD/JPY is getting there.
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  • #113,404
  • Jun 19, 2012 5:44pm Jun 19, 2012 5:44pm
Usd cad on Thursday or late tomorrow ,$ bullish till then

Quoting bullzeye
USD/CAD

i took this one short:

- down TL
- BRN 1.0200
- some kind of H&S pattern
- broke the support

Attachment
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #113,405
  • Jun 19, 2012 5:46pm Jun 19, 2012 5:46pm
im short ,also long gbp nzd

Quoting bullzeye
NZD/USD

an area that i look for a short

Attachment
Attached Image
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #113,406
  • Jun 19, 2012 5:51pm Jun 19, 2012 5:51pm
usd cad Wait ,h4 higher up
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #113,407
  • Jun 19, 2012 5:53pm Jun 19, 2012 5:53pm
maybe pin lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #113,408
  • Jun 19, 2012 6:18pm Jun 19, 2012 6:18pm
Yesterday I entered long at the IB (momentum, bounce at S/R, IB) but my s/l got hit after a fast move down. Although I didnt check It must have been a news announcement.

Are you watching News announcements and take them into account?

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  • #113,409
  • Jun 19, 2012 8:08pm Jun 19, 2012 8:08pm
Hi guys! Was wondering if you guys use leverage for your trades, as I have seen in the demo version, there are options for leverage of up to 1:400. Is it wise to use that much of leverage or you guys would just stick to 1:1 ratio?

Cheers
Kie
  • #113,410
  • Jun 19, 2012 8:48pm Jun 19, 2012 8:48pm
Quoting Chanya
I am right in assuming that we should be short on this pair right about now , initial stops should have been above the yellow zone and are about to be taken out ????

Quoting Chanya
On the same pair NDZ CHF
Quoting jarroo
Hey Chanya .

also I use FxPro feed for my charting because they use the New York Close 5:00 PM (EST).


Jim
I do use the New York Close ..so our levels may be a bit different.

I like the Weekly levels on "crazy crosses" like the NzdChf. . .and then see how they line up with the Daily levels . .Does this chart help?

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #113,411
  • Jun 19, 2012 8:53pm Jun 19, 2012 8:53pm
Quoting Mebius
On the daily chart, the first touch back to this weekly level was on 6/7 last week. Price bounced nicely right to the FTA at which point you would either TP or go to BE. The next day's bar closed above the weekly level which should have gotten any shorts out. A Jarroo style trade might have you go long at on a retest of the level which went straight the upper FTA. If anyone caught these two trades....hats off to you!

I love Jarroo's methodology and am learning that you must be very disciplined to REACT at the FTA's or Risk getting caught when...
Nice post . Mebius .

Price is going to react to the first targets (or FTAs) and so should you . .
Indicators show the past. Price Action "Indicates" the future.
  • #113,412
  • Jun 19, 2012 8:57pm Jun 19, 2012 8:57pm
Quoting masterkie
Hi guys! Was wondering if you guys use leverage for your trades, as I have seen in the demo version, there are options for leverage of up to 1:400. Is it wise to use that much of leverage or you guys would just stick to 1:1 ratio?

Cheers
Kie
I use a leverage of 100. At the end it doesn't matter as you only risk a percentage amount (between 1 and 3 is recommended) of your trading account. Higher leverage and larger stop loss get balanced with the lot size you do purchase. FI: if your s/l is 25 pips and your lot size is 0.5. then if your s/l is 50 pips your lot size will be 0.25.

Does that makes sense?
  • #113,413
  • Edited Jun 20, 2012 11:32am Jun 19, 2012 8:58pm | Edited Jun 20, 2012 11:32am
Quoting Donkey
I agree with the bolded 100%. My tendency is to think every trade is destined to become a runner. I hate to say this, but a few weeks ago I actually watched a trade go from 120 or so pips in profit to a 1/2 risk loss. Definitely learned from that one.

It's really a critical concept for any and all trades.....recognize your trouble areas and react.
Quoting Mebius
You are not alone Donkey. I've watched profit turn into a loss 3 times this week. It's all a learning experience. On the bright side, i'm not beating myself up about it nearly as much as i used to which is progress in my book.
Great post guys . .I know the feeling all to well also . .

It wasn't until James16 tapped me on the shoulder and smacked me in the face and said, "Stop that!" . .lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #113,414
  • Jun 19, 2012 9:19pm Jun 19, 2012 9:19pm
Quoting Mebius
Anyone watching GBPNZD? 2.00 BRN, strong downtrend and price looking to close below today. If the weekly can close below, will look for PA to get short OR touch on retrace? Notice the Daily PB off a weekly level where the move started on 5/23. Classic J16.
That was a great move from 5/23 .alot of story going on up there at the time. .

I like these Weekly levels that Price is coming into now ..
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Indicators show the past. Price Action "Indicates" the future.
  • #113,415
  • Jun 19, 2012 9:30pm Jun 19, 2012 9:30pm
Quoting Greenhaze
This setup looks very interesting.

I suspect Mike might have his eye on that

You nailed it GH . .

Some caught it a little earlier . .

Quoting jarroo
let's watch this one . . .a Hourly bar that closes below the .9850 and we are out. . .a bit messy . .alot of traffic, . .targets are close by . .should be fun to watch . .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,416
  • Jun 19, 2012 9:50pm Jun 19, 2012 9:50pm
Quoting Pinbar
I would take a look at the daily TF.
It is not so difficult to resist.
Great levels Steve . .on the GbpAud. Price not bouncing to the moon at the first touch of the 1.5470 . .with a Daily PB to boot . was sure telling where Price may be heading . .downtown.

I like the 150 ema confluence at the HCR level, 1.5470.
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Indicators show the past. Price Action "Indicates" the future.
  • #113,417
  • Jun 19, 2012 10:01pm Jun 19, 2012 10:01pm
Quoting Chanya
Massive confluence area

1 ) BRN 80.00

2 ) Weekly Levels

3 ) Fib 38.2

4 ) Trend line

5 ) PPZ as a yellow zone

6 ) Hidden divergence , If you believe in em ...

Down ??? I think so ... But not without PA .... Or maybe H4 pattern Instead ...

Nice Chanya . . .and an important point about great confluenced levels . .they can be traded in either direction . .we just follow the close of Price. .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,418
  • Jun 19, 2012 10:10pm Jun 19, 2012 10:10pm
Quoting Chanya
Two Daily BE trades OF NZDCHF in two day ... Crappy pair ...
You're getting it Chanya . . keep at it brother . .
Indicators show the past. Price Action "Indicates" the future.
  • #113,419
  • Jun 19, 2012 10:12pm Jun 19, 2012 10:12pm
Quoting Greenhaze
From this perspective i would like the support to be much stronger visually.

I like this one . .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,420
  • Jun 19, 2012 10:18pm Jun 19, 2012 10:18pm
aud/usd is coming into a resistance-zone 1.0200 - 1.0250.
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meine augen sind die sterne
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