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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

  • #114,901
  • Aug 2, 2012 5:14am Aug 2, 2012 5:14am
Quoting bullzeye
mhhh, i would`n take this one...see the FTA is right ahead, its making higher highs on daily and the pin its just a tiny one, just be careful with that one
NZD/USD

i would to go short in this area first: PPZ and Weekly TL

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  • #114,902
  • Aug 2, 2012 5:21am Aug 2, 2012 5:21am
Quoting bullzeye
NZD/USD

i would to go short in this area first: PPZ and Weekly TL

Attachment

Sure bud , but bear in mind that you are in a triangle and that implies that you need to be baby sitting your trade!!!

When it breaks out of the triangle you can plan better I believe..

Regards V
  • #114,903
  • Aug 2, 2012 6:09am Aug 2, 2012 6:09am
HI MIKE

Should i entry now or wait weekend ?
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Enter Signature
  • #114,904
  • Aug 2, 2012 6:21am Aug 2, 2012 6:21am
Eyeing up AUD/NZD for a buy

1. Downward trend line broken

2. S/r level breaks above and holds before pull back. Also breaks about BRN 1.3000

3. Downward trend line now turns to support.

4. PinBar on support.
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  • #114,905
  • Aug 2, 2012 6:22am Aug 2, 2012 6:22am
Trade ...
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Human
  • #114,906
  • Aug 2, 2012 7:19am Aug 2, 2012 7:19am
Mike can I ask you if on the picture below is the multi bar low? If yes, where do you set your limit order after break ?
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  • #114,907
  • Aug 2, 2012 7:23am Aug 2, 2012 7:23am
Quoting Chanya
Trade ...
Hey Chanya...S/L on that one was over 150pips right?

And for what reason that wasnt play PBT&CA ?

Thank you
  • #114,908
  • Aug 2, 2012 8:36am Aug 2, 2012 8:36am
Quoting Pinbar
Actually, Jarroo, J16 & Mike are really all doing the same thing.
This seems to have caused some confusion for new people and I can fully understand how that is, I also experienced some of the same thing.
If new people can understand what J16 basic PPZ are, you will be able to understand Jarroo's methodology because, they are really the same thing.
I don't think it is possible to understand one of these methods without the other. It is like having a left & right hand, they are both hands.

Anyway, here is a brief explanation of what is going...
great post Steve!

Mike
  • #114,909
  • Aug 2, 2012 8:39am Aug 2, 2012 8:39am
Quoting ylxww
HI MIKE

Should i entry now or wait weekend ?
Hey Y

Did you see my chart here

I think your rising TL is a bit flimsy and fitted so that might make you think the market is doing something else. We are still very much in the middle of a wedge and consolidation zone here. Is this your home currency? You seem quite interested in it

http://www.forexfactory.com/showthre...46#post5891646

Best
Mike
  • #114,910
  • Aug 2, 2012 9:00am Aug 2, 2012 9:00am
Quoting mbqb11
great post Steve!

Mike
Thanks Mike.

After being away in Japan for a month, I noticed the site is inundated with new people, a lot of whom are asking about Jarroo's methodology.
Thought it may be of use to post that chart and mention the point that S&R is S&R, whichever method we use.

You are truly amazing Mike, keeping up with this thread & the PF.
  • #114,911
  • Aug 2, 2012 9:07am Aug 2, 2012 9:07am
Quoting Martin600
Mike can I ask you if on the picture below is the multi bar low? If yes, where do you set your limit order after break ?
Hey Martin

This to me is just a box, there was only really 2 mathcing lows. It's very important for me the lows be more and more exact. Otherwise(especially on a more exotic pair) you get the exact situation that unfolded. When spotting multi bar highs lows, really like for say 3-4 EXACT highs/lows. You will be shocked


Best
Mike
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  • #114,912
  • Aug 2, 2012 9:07am Aug 2, 2012 9:07am
Quoting Pinbar
Thanks Mike.

After being away in Japan for a month, I noticed the site is inundated with new people, a lot of whom are asking about Jarroo's methodology.
Thought it may be of use to post that chart and mention the point that S&R is S&R, whichever method we use.

You are truly amazing Mike, keeping up with this thread & the PF.
yes Steve you did a great job of blending it together. That's the true power. I worry about the new traders coming here touch trading every level. It's important to build that solid foundation first. I believe in that strongly

Hope you had nice time off

Mike
  • #114,913
  • Aug 2, 2012 9:14am Aug 2, 2012 9:14am
Quoting mbqb11
yes Steve you did a great job of blending it together. That's the true power. I worry about the new traders coming here touch trading every level. It's important to build that solid foundation first. I believe in that strongly

Hope you had nice time off

Mike
It is slowly coming together and I have been at it for 3 years.
That is the point I think, slowly building up chart time and understanding, before blowing both our account and our heart to continue and possibly much worse.

Yeah, I had a good time in Japan.
Still got another month off before starting the university job.

Plenty of chart time available. Yummy!

Keep it up Mike.
But, take time out to have fun.
  • #114,914
  • Aug 2, 2012 10:17am Aug 2, 2012 10:17am
Quoting mbqb11
Hey Y

Did you see my chart here

I think your rising TL is a bit flimsy and fitted so that might make you think the market is doing something else. We are still very much in the middle of a wedge and consolidation zone here. Is this your home currency? You seem quite interested in it

http://www.forexfactory.com/showthre...46#post5891646

Best
Mike
thanks mike ,it is not my home currency. it is only coz ,i think it will be down trend .
Enter Signature
  • #114,915
  • Aug 2, 2012 10:18am Aug 2, 2012 10:18am
This pb looks nice.. off the 1.0500 level

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FTA 1.0385
  • #114,916
  • Aug 2, 2012 11:25am Aug 2, 2012 11:25am
Quoting fascist
This pb looks nice.. off the 1.0500 level

Attachment

FTA 1.0385
This is not a Pinbar, because the low is below the low of the previous bar.
It could turn into either a BEOB or a BUEOB as it has not yet closed.

Just so that the many new people do not end up thinking this is a PB.
  • #114,917
  • Aug 2, 2012 11:52am Aug 2, 2012 11:52am
WTH is this cross planning I wonder !!!
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Human
  • #114,918
  • Edited 1:25pm Aug 2, 2012 1:14pm | Edited 1:25pm
Quoting Chanya
WTH is this cross planning I wonder !!!
Probably nothing, I am afraid. Swiss central bank completely destroyed this par. But like I read recently in some article: "The Swiss currency peg is like an expensive Swiss watch: technically impressive but costing astronomical sums of newly printed central bank money. " I am curious how long will they hold on
When they give up we will have beautiful downtrend (If I recall correctly something similar happened in Canada, when their government said that they will no longer interfere (they were supporting cad) - cad went down, strong) - but in the other hand, people with credits in swiss franc will be in bad position At least here, in Poland... A lot of people took loans for houses in swiss franc, later PLN (polish currency) go down (like eur), swiss franc up, house prices down...now they have to paid more for less... Example people took loans for 400k to buy house, now house is worth 350k, but they have to pay to the bank 450k. And interests of course. Pure example of course I've got no idea how much price actually change, but I've heard loses were sth about 100k in 400k loan.

This is warning - don't take loans in currency you don't earn. I'm glad I didn't and none of my family did.
  • #114,919
  • Edited 1:42pm Aug 2, 2012 1:32pm | Edited 1:42pm
Quoting rafstraszek
Probably nothing, I am afraid. Swiss central bank completely destroyed this par. But like I read recently in some article: "The Swiss currency peg is like an expensive Swiss watch: technically impressive but costing astronomical sums of newly printed central bank money. " I am curious how long will they hold on
When they give up we will have beautiful downtrend (If I recall correctly something similar happened in Canada, when their government said that they will no longer interfere (they were supporting cad) - cad went down, strong) - but...
Thank you for this info . I am asking totally out of curiosity , why do you have so much knowledge about fundamentals /???
How does it help ?
Human
  • #114,920
  • Aug 2, 2012 1:47pm Aug 2, 2012 1:47pm
What you think?
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