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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

  • #115,061
  • Aug 6, 2012 4:05pm Aug 6, 2012 4:05pm
was wondering if any PBT people are looking at this one? Picture says everything....
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  • #115,062
  • Aug 6, 2012 4:07pm Aug 6, 2012 4:07pm
Quoting deltaskelta
Chanya, some of the stuff you posted threw me off a little bit, so I'd just like to check some stuff. The picture pretty much says it all, but there is also a PBT&CA right next to what you posted as a PBT&CB, just wondering if there was any reason not to take the CA trade that happened right before?
yeah i dont understand this short trade either .. looks like a valid long trade to me that failed
  • #115,063
  • Aug 6, 2012 4:24pm Aug 6, 2012 4:24pm
Quoting dan89
yeah i dont understand this short trade either .. looks like a valid long trade to me that failed
Why failed? it was be or profit - it depends, at which hcr you put buy pending order.
yellow - be
green - profit

And this hcr ppz is still valid, after price closes below it...so you can go short...
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  • #115,064
  • Aug 6, 2012 4:39pm Aug 6, 2012 4:39pm
Quoting rafstraszek
Why failed? it was be or profit - it depends, at which hcr you put buy pending order.
yellow - be
green - profit

And this hcr ppz is still valid, after price closes below it...so you can go short...
I agree that it was a valid trade for profit if done right, i was not saying in my OP that it was a failed loss... I was just making sure I was correct in identifying that it was there and a valid trade to take at the time with the PBT method...
  • #115,065
  • Aug 6, 2012 4:47pm Aug 6, 2012 4:47pm
Quoting MrShort
Hello my friend.

Cool trades. Thank you for sharing that with us. But I have a doubt on the first one. The bearish candle after the PBT&CB candle didn't retest your points of entry. What was your criteria to get into this one?

I hope the question makes sence.

Cheers.
Quoting utiq
Hi Chanya ... I'm a little confused and I have a question for you.
I read your PDF (it's cool ), but the question is:

Attachment

Sorry for the stupid questions .... just trying to understand

Of course It does ... UMM I am so sorry guys about the first chart . My Bad . I wont be posting trades which I have not explained how they materialized ... For those of you who are still dying with curiosity , Like I said before , PLEASE PLEASE read the thread from the beginning ( Few hundred pages ) ... Can not stress enough ... PLEASE ...
Forget the first chart .... Again , I truly apologize ...

Quoting rafstraszek
This is not a stupid question, I think that Chanya said sth about it some time ago - that he will write about it in part 2 of his pdf...if I am no mistaken...

But this is interesting, maybe because of the bar confirmation?
If anyone does not like waiting , Jarroo's charts are always the way to go ... Or I should say they are MUST ....

Quoting Hotwinter
hello dear...
I am a lil bit confused to understand one of your recent two charts. In second chart (USD/PLN) u have mentioned PBT&CB... but I am confused which LCS you mean the price has broken down and closed below?

Hope the question is clear to understand.

====
aslam
Hey aslam , See the chart 1 Below ...

Second chart represents totally basic PBT trade ...
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Human
  • #115,066
  • Aug 6, 2012 4:52pm Aug 6, 2012 4:52pm
Quoting deltaskelta
I agree that it was a valid trade for profit if done right, i was not saying in my OP that it was a failed loss... I was just making sure I was correct in identifying that it was there and a valid trade to take at the time with the PBT method...
Yes, of course. I was referring to dan's post:


Quoting dan89
yeah i dont understand this short trade either .. looks like a valid long trade to me that failed
  • #115,067
  • Aug 6, 2012 6:03pm Aug 6, 2012 6:03pm
Quoting mbqb11
very nice pin! I just posted this chart in the PF!
Here are some charts I posted in jarroo's section on the PF. A lot of different ways to look read the charts....but they often end up at the same place, highly confluenced areas (BRN!!)
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  • #115,068
  • Aug 6, 2012 6:11pm Aug 6, 2012 6:11pm
****edit: Hey Chanya..sorry I misspelled your screen name in the subject

Hey folks, it looks to me like Chanya is going for the reverse trade...meaning:

If the level fails to hold, it can then be traded the other way.

In this case, PBT&CA the HCR but then closed below it shortly after. Now the level becomes valid for a trade in the other direction, a short in this case. You can basically view the trade as a false break from a higher time frame, even if that higher time frame hasn't had a chance to close a period (the bar closes..a weekly in this case).

Chanya - I don't mean to put words in your mouth or speak for you.
I just wanted to throw something out their to address that short trade that other folks are questioning. Please feel free to correct me if I'm way off with what you were doing there...no disrespect intended.

I can recall Jaroo noting how the levels can work both ways in some of his webinars in the PF.
  • #115,069
  • Aug 6, 2012 6:15pm Aug 6, 2012 6:15pm
Quoting Mg42
Hey folks, it looks to me like Chandra is going for the reverse trade...meaning:

If the level fails to hold, it can then be traded the other way.

In this case, PBT&CA the HCR but then closed below it shortly after. Now the level becomes valid for a trade in the other direction, a short in this case. You can basically view the trade as a false break from a higher time frame, even if that higher time frame hasn't had a chance to close a period (the bar closes..a weekly in this case).

Chandra - I don't mean to put words in your mouth or speak for...
hey mb, I totally agree with the reverse thing, and I would have taken the short trade as well, but I would have also taken the long trade for a small profit or BE as well, it just messed with my head that it was left out of the chart when it technically happened first...
  • #115,070
  • Aug 6, 2012 6:24pm Aug 6, 2012 6:24pm
fantastic PPZ to watch at 1.0 parity level. Look how perfectly the market is boxing and flipping

THis is what it's about my friends
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  • #115,071
  • Aug 6, 2012 6:29pm Aug 6, 2012 6:29pm
Quoting rafstraszek
I am watching this, PBT&CA zone created of HCR/LCS, and I'm gonna put pending buy order on 82.22. I think, that stronger retest give me more significant move up - what do you think about it?

Any more interesting closes to look on Monday?

cheers
This is one of my favorite charts at the moment. I think it's a great illustration of combining some of mike's (boxing at ppz's) and jarroo's (hcr/lcs) levels. I'm really liking the 82.40 monthly level as potential entry with stop below daily low and top of box as first potential spot to reduce risk.
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  • #115,072
  • Aug 6, 2012 6:41pm Aug 6, 2012 6:41pm
Quoting Donkey
This is one of my favorite charts at the moment. I think it's a great illustration of combining some of mike's (boxing at ppz's) and jarroo's (hcr/lcs) levels. I'm really liking the 82.40 monthly level as potential entry with stop below daily low and top of box as first potential spot to reduce risk.
Hi Donkey,

I'm waiting for an entry on this one too. Slightly different view and decision criteria but same idea..see post: http://www.forexfactory.com/showthre...78#post5902078

It's pretty cool how all of the different approaches and mix of approaches come together to suggest the same trade.

I am going to wait for tonight's RBA interest rate decision to see if there's an initial spike lower for an optimal entry. I know fundamentals aren't factored in much by most in this forum but I do pay attention to certain news events my self. If the interest rate is lowered in any way, I'll stay out for sure.
  • #115,073
  • Aug 6, 2012 6:47pm Aug 6, 2012 6:47pm
Quoting Donkey
This is one of my favorite charts at the moment. I think it's a great illustration of combining some of mike's (boxing at ppz's) and jarroo's (hcr/lcs) levels. I'm really liking the 82.40 monthly level as potential entry with stop below daily low and top of box as first potential spot to reduce risk.
Hey donkey, I actually already entered this trade here (EDIT: http://www.forexfactory.com/showthre...00#post5907600) because it looked to me like it broke through and is now retesting the HCR that it broke.

Do you guys think this was entered too early? not at the right spot?

Thanks for reading!
  • #115,074
  • Aug 6, 2012 7:09pm Aug 6, 2012 7:09pm
Quoting Donkey
This is one of my favorite charts at the moment. I think it's a great illustration of combining some of mike's (boxing at ppz's) and jarroo's (hcr/lcs) levels. I'm really liking the 82.40 monthly level as potential entry with stop below daily low and top of box as first potential spot to reduce risk.
could see us falling here too

lots of chop on xxx/jpy pairs this one seems over shot(unless the others are lagging). Daily showing divergence now too.

Hit 61.8 to the nose. Also midpoint of that larger box you drew as well.

Might be a battle at that daily HCR that you guys like. Wish the box was more formed on the daily to be more convinced. That's why I passed on the BUOB myself. Good area to watch though

Mike
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  • #115,075
  • Aug 6, 2012 7:10pm Aug 6, 2012 7:10pm
Quoting deltaskelta
Hey donkey, I actually already entered this trade here (EDIT: http://www.forexfactory.com/showthre...00#post5907600) because it looked to me like it broke through and is now retesting the HCR that it broke.

Do you guys think this was entered too early? not at the right spot?

Thanks for reading!
I personally think your entry is fine....you have to mold the concepts into something that works for you and fits your trading personality.

One thing I've noticed is that often when a level is strong (like I see the 82.20-82.40 level right now) price moves away quickly and doesn't come back right away to test the level.
  • #115,076
  • Aug 6, 2012 9:14pm Aug 6, 2012 9:14pm
GBPUSD is wedging up with the midpoint a BRN. The 1hr 150 and 365 emas are right in the middle with the 150 ema in the middle as well on 4h. Looks like price will most likely break down, but we will see.
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  • #115,077
  • Aug 6, 2012 11:46pm Aug 6, 2012 11:46pm
Quoting rafstraszek
There was strong rejection - price go below lcs, to lls(lowest low of support) and then close above - so I think, that bullish move will be big.

My first thought was lvl marked as TP2, but then I saw TP1 lvl - lot of gaps created on/near it - I would watch it very closely and if price would have ANY (on D1) problem at this lvl, I would be out.

I would probably use Ghous method (at least I think so ), so I can have tighter sl. I would put pending buy order on top of box I draw, and move to be quickly (I like comfort given by be).

Another good answer.
Not sure what you mean about the FTA in the Ghous method as, that FTA you marked on the chart is below the break of the PB, therefore it can not really be an FTA.
  • #115,078
  • Edited Aug 7, 2012 12:55am Aug 6, 2012 11:53pm | Edited Aug 7, 2012 12:55am
Quoting Donkey
Here are some charts I posted in jarroo's section on the PF. A lot of different ways to look read the charts....but they often end up at the same place, highly confluenced areas (BRN!!)

Funny, I am in that one and have been since last night.
I closed out two thirds of the position and reduced the SL to virtual BE by taking profit off the two thirds.

I don't like how it is lingering around this area, combined with pendant.
It should have been rejected more viciously, at the monthly consolidation area on the left, for my liking.
That said, as Mike stated, the BRN is the key.
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  • #115,079
  • Aug 7, 2012 2:12am Aug 7, 2012 2:12am
hi,
we have some price action in usdchf weekly tf with some additional confirmation whats your ideas about this?

notic that dont attention to fibonachi levels this is for another strategy and attention to price actions
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  • #115,080
  • Aug 7, 2012 2:19am Aug 7, 2012 2:19am
Quoting Chanya



Hey aslam , See the chart 1 Below ...

Second chart represents totally basic PBT trade ...

Thats HCR levels are fine

However, as far i remember, we use PBT&CA when an HCR level is broken up and we trade that as LONG.

But in your 1st post about these charts, u have mentioned there PBT&CB.... which pushed me in confusion.


====
aslam
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