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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

  • #116,221
  • Aug 24, 2012 9:52am Aug 24, 2012 9:52am
Quoting Chanya
I have my buy orders in based on the upper HCR you marked and the ones on the left of it ... Lets see ...
halo chanya, meshka and all you great traders in this forum,

have a question on HCR n LCS level. how far should i look back i.e on the left in order to put them. i tried to pick several of the tops and bottoms ie HCR n LCS on monthly, weekly and daily and i got so many lines on my chart that finding a space to trade into is difficult. i have chanya's pdf on jaroo's method and cant find how far should this levels come from.

is there a rule as to when a level should be taken off from the chart. for example if its broken 2 or 3 times. some just hold 1 time other 2 and they are broken 3rd time.

some assistance will highly be appreciated.

keep up the good work guys.

thanks
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #116,222
  • Aug 24, 2012 9:52am Aug 24, 2012 9:52am
Quoting Chanya
I have my buy orders in based on the upper HCR you marked and the ones on the left of it ... Lets see ...
I've been in this trade, but got out on BE - but good luck on this my friend...
  • #116,223
  • Aug 24, 2012 9:58am Aug 24, 2012 9:58am
Quoting Chanya
What taxes ? Are you talking about income tax to the home country government ??? Or some other ???
Yes - capital gains - 19% in Poland (forex, stock exchange etc. )
  • #116,224
  • Aug 24, 2012 10:04am Aug 24, 2012 10:04am
Good decision on eurcad - took full profit
orange enter

Almost to the pip, when price didn't clse above yellow (weekly lcs)
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  • #116,225
  • Aug 24, 2012 10:05am Aug 24, 2012 10:05am
Quoting rafstraszek
Yes - capital gains - 19% in Poland (forex, stock exchange etc. )
19 % ?

You pay this every time on withdrawal ??? Every withdrawal ???
Human
  • #116,226
  • Aug 24, 2012 10:06am Aug 24, 2012 10:06am
Quoting Chanya
19 % ?

You pay this every time on withdrawal ??? Every withdrawal ???
yearly income, one time a year - on tax settlement
  • #116,227
  • Aug 24, 2012 10:08am Aug 24, 2012 10:08am
Quoting rafstraszek
yearly income
So , if you are making 10 K per year , you are paying 1.9 K in income tax ??
Human
  • #116,228
  • Aug 24, 2012 10:09am Aug 24, 2012 10:09am
Quoting Chanya
So , if you are making 10 K per year , you are paying 1.9 K in income tax ??
yep, and how it looks where you live?
  • #116,229
  • Aug 24, 2012 10:23am Aug 24, 2012 10:23am
Quoting rafstraszek
yep, and how it looks where you live?
Let me get back to you about this in a few ....
Human
  • #116,230
  • Aug 24, 2012 10:28am Aug 24, 2012 10:28am
Quoting james16
i have neglected my baby for a while and i feel bad so i am going to get up and running again. remember markets are markets and i like to throw some futures markets in from time to time.
http://www.forexfactory.com/showthre...6531#post36531

May I know why is it a pin bar but not a indecision bar for no.2?
  • #116,231
  • Aug 24, 2012 10:36am Aug 24, 2012 10:36am
Quoting ken.b
http://www.forexfactory.com/showthre...6531#post36531

May I know why is it a pin bar but not a indecision bar for no.2?
Hey Ken


That is because we have a longer wick protruding away from price. I agree that it could be tricky for a new trader and it's good to see a larger nose then the bottom "wick" or tail

Best
Mike
  • #116,232
  • Aug 24, 2012 10:42am Aug 24, 2012 10:42am
Quoting mbqb11
Hey Ken


That is because we have a longer wick protruding away from price. I agree that it could be tricky for a new trader and it's good to see a larger nose then the bottom "wick" or tail

Best
Mike
If the upper wick is shorter, will it be an indecision bar?
  • #116,233
  • Aug 24, 2012 10:53am Aug 24, 2012 10:53am
Quoting ken.b
If the upper wick is shorter, will it be an indecision bar?
yep you got it ken. If we have equal wicks with open and close near the middle then its gonna be an indecision bar. This one is slightly larger making it qualify as a pinbar at a swing high.

If you need some examples let me know

Best
Mike
  • #116,234
  • Aug 24, 2012 10:57am Aug 24, 2012 10:57am
Closed both at break even. Don't want to hold over weekend.
  • #116,235
  • Aug 24, 2012 11:03am Aug 24, 2012 11:03am
Quoting mbqb11
yep you got it ken. If we have equal wicks with open and close near the middle then its gonna be an indecision bar. This one is slightly larger making it qualify as a pinbar at a swing high.

If you need some examples let me know

Best
Mike
Hi Mike, thank you for your guidance. I get it now. =)
  • #116,236
  • Aug 24, 2012 11:16am Aug 24, 2012 11:16am
Hi Mike,

What is your opinion on this kind of set up, PA on good location against TL? Would you take it or just let it pass? How much weight should we put on the TL itself when analyzing this kind of set up? Thanks
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  • #116,237
  • Aug 24, 2012 11:27am Aug 24, 2012 11:27am
Quoting bullzeye
AUD/JPY

on daily we have an decreasing momentum and break of the TL, on weekly is building a nice BEOB...mike would love this one (or punish me for a silly trade )
bullzeye, What does mean "decreasing momentum"?
Spasibo
  • #116,238
  • Aug 24, 2012 11:52am Aug 24, 2012 11:52am
Quoting RonaldinhoKuban
bullzeye, What does mean "decreasing momentum"?
Spasibo
hey my friend , i mean : " уменьшениe импульсa"

cheerz
  • #116,239
  • Aug 24, 2012 12:27pm Aug 24, 2012 12:27pm
GBP/AUD

PPZ, 38,2 FIB and maybe a nice pin on this (would see rather a bearish one)...

strong WL

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  • #116,240
  • Aug 24, 2012 12:30pm Aug 24, 2012 12:30pm
Quoting esbatu
Hi Mike,

What is your opinion on this kind of set up, PA on good location against TL? Would you take it or just let it pass? How much weight should we put on the TL itself when analyzing this kind of set up? Thanks
Hey E

I think it's certainly a very valid setup. And we shouldn't ignore the TL but rather we can use it to our advantage. We can sell under the TL, or if we sell into see if it breaks and if it doesn't you cut out. If it does break that TL should hold which means managing the trade becomes a lot easier. Generally I like my bars to close outside the TL, or push right up against it tight but for the same reasons as the above

Best
Mike
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