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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

  • #115,121
  • Edited 3:54pm Aug 7, 2012 3:39pm | Edited 3:54pm
Quoting rafstraszek
I would probably use 3 tps (close partially or moving sl right below it...)
very strong rejection, probably a div (can't be sure)...but I don't this very consolidate market after first tp - price can be crazy there...
As they have already told its a choppy market , remember , Even the minor levels may reverse your trade upon you ... You have only drawn major levels ... There are few minor levels that may be used to manage the trade ...
Chart below shows green zones which might seem minor but I learned the hard way that in certain situations , its not good to ignore them ... Plus moving to BE at fta in choppy market and saving your self is also a must ... Other then that , I think you have got it right ... Have I got it right?

Edit : One more thing . They are not single lines as you have drawn them ( Except in certain cases ) but they ( PPZs ) are zones ...
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Human
  • #115,122
  • Aug 7, 2012 3:41pm Aug 7, 2012 3:41pm
Quoting Chanya
This GBP/NZD cross has been making me tons of pips alone ......
Hello, Chanya

You bought GBP/NZD on h1/h4 chart?
On what candle was this trade?
thanks
  • #115,123
  • Aug 7, 2012 3:43pm Aug 7, 2012 3:43pm
Quoting Yehuda Sh
Mike
Hello

AUD / nzd
buob

What is your opinion on setap

Sorry for my bad English
Hey Yehuda

I like this one and am going to be playing it myself

I will be playing it as a breakout and pullback to the larger wedge

I like your FTA which is what I am guessing your trouble area is.


Charts

Mike
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  • #115,124
  • Aug 7, 2012 3:47pm Aug 7, 2012 3:47pm
Quoting eXtreme
Hello, Chanya

You bought GBP/NZD on h1/h4 chart?
On what candle was this trade?
thanks
Brother , As I said , I took the trade on daily ... I never trade below daily ... Don't like to do that ... Every senior here and I also ( Not a senior , not even slightly close , but know this much ) have said again and again that anyone must not go down below higher time frames unless they have completed the requirements of post 1 ...
Human
  • #115,125
  • Aug 7, 2012 3:51pm Aug 7, 2012 3:51pm
Quoting mbqb11
Hey Yehuda

I like this one and am going to be playing it myself

I will be playing it as a breakout and pullback to the larger wedge

I like your FTA which is what I am guessing your trouble area is.


Charts

Mike
Thought I would note one more piece of confluence with price bouncing right off the 50fib.

I feel like I understand PB's pretty well now, but I am a bit unsure of how to play these BUOB's.....

Mike, would you just play the break of the bar much like a pin? or is there some other means of entry into a trade like this?
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  • #115,126
  • Aug 7, 2012 3:54pm Aug 7, 2012 3:54pm
Quoting Chanya
As they have already told its a choppy market , remember , Even the minor levels may reverse your trade upon you ... You have only drawn major levels ... There are few minor levels that may be used to manage the trade ...
Chart below shows green zones which might seem minor but I learned the hard way that in certain situations , its not good to ignore them ... Plus moving to BE at fta in choppy market and saving your self is also a must ... Other then that , I think you have got it right ... Have I got it right? I don't know that !!! ...
Yes of course xD Don't worry - if I would draw all of minor and major trouble areas - you wouldn't be able to se bars behind them

It was just general view - and i also can't see all areas without Japanese candles - i hate normal bars.

And I'm also focus on jarroo's and ghous's methods, so I manage trade a little different, than on james16 and bar confirmation method (I think, that price need more space then, on james16 I mean)
  • #115,127
  • Aug 7, 2012 3:55pm Aug 7, 2012 3:55pm
Quoting deltaskelta
Thought I would note one more piece of confluence with price bouncing right off the 50fib.

I feel like I understand PB's pretty well now, but I am a bit unsure of how to play these BUOB's.....

Mike, would you just play the break of the bar much like a pin? or is there some other means of entry into a trade like this?
all bars really can be played the same

We must just understand the advantages and disadvantages.

We can for example play a bar on a break, this validates the bar.

We can play a bar on a retracement(for example to the former trendline). This gets us in earlier but on an unconfirmed bar

We can play a bar on the close(similar to above slightly better price but unconfirmed.

These are some of the ways to play them. I tend to play 90%ish of bars on the break

Hope that helps!
Mike
  • #115,128
  • Aug 7, 2012 4:08pm Aug 7, 2012 4:08pm
I HATE GBPNZD!!!

Two minutes after daily close it retested lcs/hcr and hit be...it would be ok, but I didn't make it to set pending order!!! 2 minutes!!! i was just checking ff
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  • #115,129
  • Aug 7, 2012 4:35pm Aug 7, 2012 4:35pm
Quoting Chanya
This GBP/NZD cross has been making me tons of pips alone ......
Nice trade mate.

Any chance you could start posting up your trades or potential setups in real time mate ?

Cheers
Dan
  • #115,130
  • Aug 7, 2012 4:39pm Aug 7, 2012 4:39pm
Quoting rafstraszek
I HATE GBPNZD!!!

Two minutes after daily close it retested lcs/hcr and hit be...it would be ok, but I didn't make it to set pending order!!! 2 minutes!!! i was just checking ff
Everybody sees PA including Pros, somewhere along the line stops get hunted very quickly. UWAGA UWAGA !!! TAK ? Dont hate it just Love it... You ll be very good soon...

That s why Mike's take on playing break of PA bar is valid action...

PinBAR your progress is awesome, enjoying your charts

Vito


Cheers

V
  • #115,131
  • Aug 7, 2012 5:04pm Aug 7, 2012 5:04pm
Quoting mbqb11
Hey Yehuda

I like this one and am going to be playing it myself

I will be playing it as a breakout and pullback to the larger wedge

I like your FTA which is what I am guessing your trouble area is.


Charts

Mike

Mike, on your chart the FTA/purple line is very close to the high of the BUOB. Therefore I'm guessing you're going to be playing this one as a retrace rather than a breakout?
  • #115,132
  • Aug 7, 2012 5:09pm Aug 7, 2012 5:09pm
Quoting ghous
Good one Steve,

I think Mg42 nailed it with the FTA while Rafs and filipl and others were pretty good with their trouble areas and possible targets for the bar too.

Time for some of my favorite market action - side ways stuff! Where is this headed people?

Keep in mind the fact that we have a very good pin bar in a very sideways market.

Best of luck.

g.
G
I can't see price breaking down below 0.67015 (just below PB), BE point would be first white line and target around 2nd white line where strong resistance would constrain further rises.

Ray
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  • #115,133
  • Aug 7, 2012 5:09pm Aug 7, 2012 5:09pm
Quoting mbqb11
Hey Yehuda

I like this one and am going to be playing it myself

I will be playing it as a breakout and pullback to the larger wedge

I like your FTA which is what I am guessing your trouble area is.


Charts

Mike
If price does pullback to the wedge will you be looking for another PA formation (pin/BUOB) as confirmation to take a long ? Or will you be playing this as a touch trade due to the BUOB that has just occured ?

Cheers
Dan
  • #115,134
  • Aug 7, 2012 5:10pm Aug 7, 2012 5:10pm
Quoting Pinbar
Yeah, I have been watching this.
However, notice the cup & handle pattern on your daily chart?
We can also see this on the weekly chart.
This leads me to think it will hold as support.

Weird pattern I know.
Hey PB
I had to google that one ... good pickup.

Ray
  • #115,135
  • Aug 7, 2012 5:35pm Aug 7, 2012 5:35pm
Quoting rafstraszek
I HATE GBPNZD!!!

Two minutes after daily close it retested lcs/hcr and hit be...it would be ok, but I didn't make it to set pending order!!! 2 minutes!!! i was just checking ff
UUmm , Buddy , Sorry but I think your broker is EFing you ... Here is my chart and there was no retrace to trigger the stop ...
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Human
  • #115,136
  • Edited 7:27pm Aug 7, 2012 5:37pm | Edited 7:27pm
Quoting dan89
Nice trade mate.

Any chance you could start posting up your trades or potential setups in real time mate ?

Cheers
Dan
Of course ... I said a couple of days back that due to university and lots of other stuff , I am barely having 5 hours of sleep per day and within that , I have to trade as I trade mostly daily ... Very soon , my holidays are coming ... Then I will post trades as I take them ...

Plus , I have been doing that recently ...

Today , I posted GBP NZD chart and told which PBT I would be taking
Yesterday , I told aud chf is one I might take ...
Then , In some discussion with raf I think , I discussed that aud jpy is the one I will be taking ...
Now , NZDCAD seems to be valid enough setup ...
So ....
Human
  • #115,137
  • Aug 7, 2012 5:41pm Aug 7, 2012 5:41pm
Quoting Chanya
UUmm , Buddy , Sorry but I think your broker is EFing you ... Here is my chart and there was no retrace to trigger the stop ...
Yeah same here ... low of 1.91328.
  • #115,138
  • Aug 7, 2012 6:04pm Aug 7, 2012 6:04pm
Quoting dan89
If price does pullback to the wedge will you be looking for another PA formation (pin/BUOB) as confirmation to take a long ? Or will you be playing this as a touch trade due to the BUOB that has just occured ?

Cheers
Dan
Hey Dan

The PA is the BUOB for me. I don't really drop down looking for more PA that tends to over complicate and change the situation for me. Easier to stick to same timeframe for me

Best
Mike
  • #115,139
  • Aug 7, 2012 6:05pm Aug 7, 2012 6:05pm
Quoting Hiten123
Mike, on your chart the FTA/purple line is very close to the high of the BUOB. Therefore I'm guessing you're going to be playing this one as a retrace rather than a breakout?
Hey Hiten

Just cause there is a FTA doesn't mean it bothers me. Many times a good setup can trump these FTAs and instead I watch how price reacts. Use these areas to manage trades move stops etc.

Price retraced pretty close to the TL already but I will be playing a break if we get it

Best
Mike
  • #115,140
  • Aug 7, 2012 6:55pm Aug 7, 2012 6:55pm
Quoting rafstraszek
I HATE GBPNZD!!!

Two minutes after daily close it retested lcs/hcr and hit be...it would be ok, but I didn't make it to set pending order!!! 2 minutes!!! i was just checking ff
Saw the same thing on my feed rafstraszek. Feed is FxPro. If you zoom in to lower timeframe you can see the 100 pip move happened in 2 minutes....anyways on my feed from oanda the spike isn't shown.
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