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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

  • #115,981
  • Edited 3:03am Aug 22, 2012 2:33am | Edited 3:03am
Quoting gasgas
Jarroo

Sorry if this was answered before, probably was but i missed it lol.

Lets say PBT but don't come back to trigger order.
In this case do you just leave order in place or erase in few days/weeks ?

Thank you


Regards,

There are 2 entry options when we have a great setup . .meaning a strong Consolidation breaking out or a deep Swing point (HCR/LCS) breaking out, etc. . .

We can enter on the retrace to our level(s) ( I like this one) or we can take the entry on the Close of the PBT&CAorB bar. Both are valid entries.


I would delete the order after a few days and wait until Price returns.
Indicators show the past. Price Action "Indicates" the future.
  • #115,982
  • Aug 22, 2012 2:40am Aug 22, 2012 2:40am
Quoting March2011
Hi everyone, I have a question about Eurnzd. There is a BUOB in daily and a wedge of the weekly, is this a good location to play?

Thank you.
We prefer our BUOBs at Swing Lows . .this is the ideal.

As a trend contnuation play . .meaning they are not at a Swing Low . . can be tricky. Since they are not at our ideal location, they can retrace alot ..down to their previous bar High or a level they intersect with.
Indicators show the past. Price Action "Indicates" the future.
  • #115,983
  • Aug 22, 2012 2:46am Aug 22, 2012 2:46am
Quoting gasgas
Jarroo

Sorry if this was answered before, probably was but i missed it lol.

Lets say PBT but don't come back to trigger order.
In this case do you just leave order in place or erase in few days/weeks ?

Thank you


Regards,

I would consider that 2 Bar High on the EurJpy (and ChfJpy) a valid retrace entry.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,984
  • Aug 22, 2012 2:49am Aug 22, 2012 2:49am
Quoting jarroo
I would consider that 2 Bar High on the EurJpy (and ChfJpy) a valid retrace entry.

ChfJpy . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,985
  • Aug 22, 2012 3:03am Aug 22, 2012 3:03am
Quoting jarroo
ChfJpy . .
Hey Jim,
does this mean once there is a valid retrace, you're not buying a retrace to the HCR if happens ?
  • #115,986
  • Aug 22, 2012 3:07am Aug 22, 2012 3:07am
Quoting Rust
Hey Jim,
does this mean once there is a valid retrace, you're not buying a retrace to the HCR from now on ?
There are other valid entry levels that are in the path of the retracement to our HCR/LCS levels. . .Multi-bars Highs/Lows, BRNs, RNs. The nearer they are to our HCR/LCS level the better.
Indicators show the past. Price Action "Indicates" the future.
  • #115,987
  • Aug 22, 2012 3:13am Aug 22, 2012 3:13am
Quoting jarroo
ChfJpy . .
Thats what i asked. Sometimes you wait untill the price come back to the close level but sometimes you enter on the low (high) of the bar. Depend on what?
Mától én vagyok a Soros!
  • #115,988
  • Aug 22, 2012 3:22am Aug 22, 2012 3:22am
Quoting Gogolak
Thats what i asked. Sometimes you wait untill the price come back to the close level but sometimes you enter on the low (high) of the bar. Depend on what?
Quoting jarroo
There are other valid entry levels that are in the path of the retracement to our HCR/LCS levels. . .Multi-bars Highs/Lows, BRNs, RNs. The nearer they are to our HCR/LCS level the better.

It depends on the tightness of the Multi Bars. . .they can be to the pips of the mutli bar Highs or Lows (which I like) or within a pip or two like on the GU ..
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Indicators show the past. Price Action "Indicates" the future.
  • #115,989
  • Edited 3:42am Aug 22, 2012 3:26am | Edited 3:42am
OK guys, here is the present (demo) situation of my trading.

1) GBPUSD. I have an unfilled order (stupid mistake) after the monthly HCR @ 1.57363 was broken through.Not yet filled - Potential target 1.59768, and stops at the low of yesterdays' breakthrough candle. Looks like it's moved away with out me.

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2) CADJPY - Perhaps this is running out of steam here. 80.429 has acted both as support and resistance on weekly. Last night saw a BEOB pierce this level of resistance, which saw me jump on board & hopefully ride this one down? Stops and targets are as per the charts.

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3) EURJPY - Still a pending order in the system to buy @ 97.458

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Lets see where these go!
  • #115,990
  • Aug 22, 2012 3:45am Aug 22, 2012 3:45am
And one more (I need more coffee).

Long usdcad from that pinbar after it looked like the monthly zone has formed some serious support @ 0.98593.

Initial target would be the blue line...

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  • #115,991
  • Aug 22, 2012 4:14am Aug 22, 2012 4:14am
Quoting jarroo
I would consider that 2 Bar High on the EurJpy (and ChfJpy) a valid retrace entry.
True, that would be an awesome entry. Prity much same story on Gbp/Usd, also didnt make it to my pending and did turn right at previous bar high point.

Ah well...gona sit this ones out i guess
  • #115,992
  • Aug 22, 2012 4:31am Aug 22, 2012 4:31am
Quoting jarroo
There are other valid entry levels that are in the path of the retracement to our HCR/LCS levels. . .Multi-bars Highs/Lows, BRNs, RNs. The nearer they are to our HCR/LCS level the better.
My question was if these entries invalidate further playing of pullback to the hcr/lcs level. Like in the cases above. Price pulled back to recent highs, bounced nicely, but let's say after that in came back again to the hcr ?
  • #115,993
  • Aug 22, 2012 4:35am Aug 22, 2012 4:35am
Quoting Rust
My question was if these entries invalidate further playing of pullback to the hcr/lcs level. Like in the cases above. Price pulled back to recent highs, bounced nicely, but let's say after that in came back again to the hcr ?
I dont give retests a second shoot at all... orders are consumed ... weakness in buying/selling at 2nd retest...
Hero calls followed by margin calls...
  • #115,994
  • Aug 22, 2012 4:36am Aug 22, 2012 4:36am
Quoting S_Ferrer
And one more (I need more coffee).

Long usdcad from that pinbar after it looked like the monthly zone has formed some serious support @ 0.98593.

Initial target would be the blue line...

Attachment
i dont agree with the target ... why the blue line ?
Hero calls followed by margin calls...
  • #115,995
  • Aug 22, 2012 5:02am Aug 22, 2012 5:02am
Quoting PhAnTi'
i dont agree with the target ... why the blue line ?
See the blue rectangles where price has reacted previously? Interested to know your thoughts on this?

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  • #115,996
  • Aug 22, 2012 5:13am Aug 22, 2012 5:13am
Quoting S_Ferrer
See the blue rectangles where price has reacted previously? Interested to know your thoughts on this?

Attachment
supply consumed in the circled area. i dont expect a lot of short orders left there, inital dropdown was around 1.000 and is untested so far, that will be my target.


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Hero calls followed by margin calls...
  • #115,997
  • Aug 22, 2012 5:59am Aug 22, 2012 5:59am
Quoting PhAnTi'
supply consumed in the circled area. i dont expect a lot of short orders left there, inital dropdown was around 1.000 and is untested so far, that will be my target.
Thanks for this, I see what you mean.

And how do you manage your trade, when would you move to BE? Or do you fire and forget it?
  • #115,998
  • Aug 22, 2012 6:02am Aug 22, 2012 6:02am
Quoting Forexgogo
Still not yet entered. Kinda afraid of such a strong support area (3 days of stagnancy right under 125!) Need to see the price breaks either up or down the TLs
Still not yet entered. What a suspense!! If the last bar closes under 125, I'm in, I think
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  • #115,999
  • Edited 6:32am Aug 22, 2012 6:06am | Edited 6:32am
I also entered USD/CAD on daily, although it's a bullish engulfing on my chart.

Anyone who can take a look at the German DAX (GER30) should take a look at the setup in the beginning of June and how it has developed. Very impressive.
  • #116,000
  • Aug 22, 2012 6:07am Aug 22, 2012 6:07am
Quoting jarroo
I would consider that 2 Bar High on the EurJpy (and ChfJpy) a valid retrace entry.
well I think... then its worth to try to play by setting complex pending entries.
say 30% of order size to set at previous multi-bars highs/ or lows and major size put directly on broken HCR or LCS or few pips above/below it. stop is under PBT candle in all cases.

but I am scared if my personal overtrading monster would not kick me into face LOL
all is eternal - this is good news for people who loves bad news
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