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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

  • #115,561
  • Aug 15, 2012 5:21am Aug 15, 2012 5:21am
Can some explain Divergances to me? Is this to do with Indicators? (which i don't use)
  • #115,562
  • Aug 15, 2012 5:25am Aug 15, 2012 5:25am
Quoting Brixton
Can some explain Divergances to me?
well there are 4 different styles of divergences :

regular bullish and bearish
hidden bullish and bearish

you need to use any oscillator to identify divergence at all.

If price makes a lower low while the oscillator a lower high for example we have regular bullish divergence indicating a possible turn in price.

Hidden divergences indicate a possible continuation of the trend.

also do the google for more information or just read my e-book , it contains all of the necessary tools to beat supply/demand areas using divergences ..

http://www.forexfactory.com/showthre...352479&page=35

best,
Jonas
Hero calls followed by margin calls...
  • #115,563
  • Aug 15, 2012 5:32am Aug 15, 2012 5:32am
Quoting PhAnTi'
well there are 4 different styles of divergences :

regular bullish and bearish
hidden bullish and bearish

you need to use any oscillator to identify divergence at all.

If price makes a lower low while the oscillator a lower high for example we have regular bullish divergence indicating a possible turn in price.

Hidden divergences indicate a possible continuation of the trend.

also do the google for more information or just read my e-book , it contains all of the necessary tools to beat supply/demand areas using divergences ..

http://www.forexfactory.com/showthre...352479&page=35

best,
Jonas...
Jonas, I think you meant to say "when price makes a lower low and oscillator makes a higher low"

Is that what you meant to say?
  • #115,564
  • Aug 15, 2012 5:53am Aug 15, 2012 5:53am
Not interested in any shorts but a break above 5743 could be the start of something.
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  • #115,565
  • Aug 15, 2012 5:55am Aug 15, 2012 5:55am
Quoting deltaskelta
Jonas, I think you meant to say "when price makes a lower low and oscillator makes a higher low"

Is that what you meant to say?
ah im sorry, yes

my bad,
Hero calls followed by margin calls...
  • #115,566
  • Aug 15, 2012 7:26am Aug 15, 2012 7:26am
Quoting ken.b
Thank you Mike! It helps a lot. There's still a long way to go for me, currently still at page 20.

I wonder where's James16? Seems like he's missing.

Kenny
Hey Kenny

He's around, been very busy with his real estate and the start of building our new site. I am sure he will touch base here as soon as he has more time

Best
Mike
  • #115,567
  • Aug 15, 2012 7:28am Aug 15, 2012 7:28am
Quoting Magestic
Mike, will you reconsider your TP level, as it goes hard down? I mean maybe you are going to look if it can be trailed down even lower. Or you don't move your targets after it's being plot?
Hey M

Likely not, but the only thing I might do is ride the TL as far as I can. I have already tightened my stop as we near my take profit. Don't want to give back too much more for just a bit more on the profit side


Been a nice ride down

Mike
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  • #115,568
  • Aug 15, 2012 8:06am Aug 15, 2012 8:06am
Quoting m00nchild
Hi everyone, what a fantastic thread we have here! Here is one for your charting pleasure, looked so beautiful on weekly!

Also a small, not so good Pin on daily a few candles back. Confluence of 61 Fibo and Sup/Res Line on weekly.

USD/CHF

Weekly:
Attachment
Daily:
Attachment
Welcome Moon

Nice first chart.

We have good confluence and you could play the beob from the weekly chart would be the better way in my view. I would have wanted a bigger bar myself and one that actually touched the VBRN of parity 1.000. the next bar also didn't break the beob but then we went right to the FTA and are bouncing from there. I prefer to see us come back up and take out the high of this beob and create a larger reversal bar if this thing really wants to reverse

Best
Mike
  • #115,569
  • Aug 15, 2012 8:07am Aug 15, 2012 8:07am
Quoting Magestic
Mike, what do u think about this kind of scenario?

Rust, thanks for your explanation
Hey M

Yes if we could box there that would be nice. Certainly need some more information to validate that BRN again in the short term as you show


Best
Mike
  • #115,570
  • Aug 15, 2012 8:09am Aug 15, 2012 8:09am
Quoting midsea
Hi Mike
I would agree that the 1.3050 level is important here and I also have it in a wedge on weekly. I'd be interested in hearing which of these - the S/R level or the wedge you would view as the more powerful pattern. I would have said the wedge seems to be playing a part on the daily tf.

Cheers
Ray
Hey Ray

Have you seen my earlier posts on this. I think the wedge has already broken out so that is actually what my initial entry was based off.

Here are some charts
http://www.forexfactory.com/showthre...30#post5910930
http://www.forexfactory.com/showthre...21#post5914621
http://www.forexfactory.com/showthre...56#post5917556

Best
Mike
  • #115,571
  • Aug 15, 2012 8:12am Aug 15, 2012 8:12am
here we go!
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Many choose unhappiness over uncertainty.
  • #115,572
  • Aug 15, 2012 8:12am Aug 15, 2012 8:12am
Quoting deltaskelta
Just had a question about divergence. I know what it looks like when the TL of price is going up but the MACD is going down, but what about when the MACD is going up and price is going down? (Example Below)

Would this be considered convergence? divergence? does it have the same implications of a possible price swing?
hello dalta ,i have a different view about it ,

coz i think a two macthing highs retest the ppz about 1.228 zone ,take profit about 1.21.
Enter Signature
  • #115,573
  • Aug 15, 2012 8:17am Aug 15, 2012 8:17am
Quoting ylxww
hello dalta ,i have a different view about it ,

coz i think a two macthing highs retest the ppz about 1.228 zone ,take profit about 1.21.
hello mike

can you show us your view about eurcad .

just want to learn. so many thanks.
Enter Signature
  • #115,574
  • Aug 15, 2012 8:28am Aug 15, 2012 8:28am
Hello,

the USD/JPY has been trading in a very narrow range past few weeks. Yesterday, we broke out and closed above it. What do you think about buying the retest, Jarrooers?
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  • #115,575
  • Aug 15, 2012 8:41am Aug 15, 2012 8:41am
Quoting mbqb11
Hey M

Likely not, but the only thing I might do is ride the TL as far as I can. I have already tightened my stop as we near my take profit. Don't want to give back too much more for just a bit more on the profit side


Been a nice ride down

Mike
trade closed
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  • #115,576
  • Aug 15, 2012 9:15am Aug 15, 2012 9:15am
Quoting mbqb11
trade closed
Very nice trade - you are an inspiration


Quoting rafstraszek
EURNZD and AUDCHF are going very nice.
First sth about 80 pips, second 100 pips.

AUDCHF was my first PBT trade by gap, not normal close - so i was feeling a little insecure. And it was also nice to see, that Chanya also was looking at this trade

EURNZD was standard, I think - I like this hcr/lcs lvl very much.

EURCAD kick me out at little profit, but i see now, that it is turning back, after hitting hcr/lcs (and my sl).

cheers
I'm out - sth about 130 pips I think.

And my nzdusd pending order wasn't triggered - lack of 2 pips It would be BE by now.

cheers
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  • #115,577
  • Aug 15, 2012 9:15am Aug 15, 2012 9:15am
Quoting ylxww
hello mike

can you show us your view about eurcad .

just want to learn. so many thanks.
Hey Y

THis one's pretty much been in a free fall so not much that I look to do

From a lower timeframe perspective we see some divergence loss of momentum kicking in here so that might be a heads up to start watching closer, but I want to see something substantial to fight a strong trend, or at least keep my mentality short term and relative to the timeframe

Best
Mike
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  • #115,578
  • Aug 15, 2012 9:51am Aug 15, 2012 9:51am
Quoting RonaldinhoKuban
I also buy pending order 0,8335

Edit: buy pending order 0,8035
3 pips price is not reached prior to my order on NzdUsd

On UsdJpy already in BE
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  • #115,579
  • Aug 15, 2012 9:59am Aug 15, 2012 9:59am
That's great PA on H4 chart (BEOB)???
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  • #115,580
  • Aug 15, 2012 10:29am Aug 15, 2012 10:29am
Quoting Nake
That's great PA on H4 chart (BEOB)???
I'm watching gbpjpy - close above blue line - I will be looking for bullish entry.
Close below green line - waiting for opportunity for short.
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