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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

  • #116,361
  • Aug 27, 2012 1:30am Aug 27, 2012 1:30am
Quoting Pinbar
Let's see if this one works out.
Great monthly SP.
I have a hard time finding much importance in this monthly zone. Personally i would wait for some kind of PA before taking any long position.

All in all ,diversity of views makes this thread interesting and i hope it will work out for you

all the best
gh
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  • #116,362
  • Aug 27, 2012 1:32am Aug 27, 2012 1:32am
Hi,

Would like to ask, what is your opinion on this pair. Is the pin bar valid?

http://i1245.photobucket.com/albums/...0812pinbar.gif

Cheers,
Kenny
  • #116,363
  • Aug 27, 2012 1:53am Aug 27, 2012 1:53am
Quoting ken.b
Hi,

Would like to ask, what is your opinion on this pair. Is the pin bar valid?

http://i1245.photobucket.com/albums/...0812pinbar.gif

Cheers,
Kenny
I like this DBHLC setup but i can't figure out your fibs here.
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  • #116,364
  • Aug 27, 2012 2:05am Aug 27, 2012 2:05am
Quoting Greenhaze
I like this DBHLC setup but i can't figure out your fibs here.
This is how i drew it. Did I do it wrongly?

http://i1245.photobucket.com/albums/...barwithfib.gif

The pin bar signal a counter trend instead of a reversal because the previous two week were bearish for this pair. Is that what you mean?
  • #116,365
  • Aug 27, 2012 2:21am Aug 27, 2012 2:21am
Quoting ken.b
This is how i drew it. Did I do it wrongly?

http://i1245.photobucket.com/albums/...barwithfib.gif

The pin bar signal a counter trend instead of a reversal because the previous two week were bearish for this pair. Is that what you mean?

I do not use fibs much and i haven't seen anyone using 70% retracement but i wouldn't put much faith in this pb just becouse of its size, location and parity above it. Good reversal PBs stick out like a sore thumb and this one doesn't show any bullish strenght... IMO It feels more like a short break before downside continuation.
  • #116,366
  • Aug 27, 2012 2:27am Aug 27, 2012 2:27am
Quoting Greenhaze
I do not use fibs much and i haven't seen anyone using 70% retracement but i wouldn't put much faith in this pb just becouse of its size, location and parity above it. Good reversal PBs stick out like a sore thumb and this one doesn't show any bullish strenght... IMO It feels more like a short break before downside continuation.
Got it! Thank you Greenhaze =)
  • #116,367
  • Aug 27, 2012 2:49am Aug 27, 2012 2:49am
[quote=samuelngugi;5959755]
Quoting HanSolo
Hey Samuel, I think it depends on your trading style. When your perspective is that of support and resistance even the highs/lows in the distant path, i.e. years on a weekly or monthly TF, may be of importance.

hansolo and meshka,

thank you very much for the response. i think am managing to reduce the numerous lines. also went back to post 1 to 100, entire weeknd and last week and am amazed what i have been missing. fabulous thread.

thanks guys. never been this at ease while trading.
cheers and keep up the good work

Hi samuel good to see u here r u in forextraders nairobi ?
thankyou gregwilson
  • #116,368
  • Aug 27, 2012 3:00am Aug 27, 2012 3:00am
EURAUD is still lingering around near the HCRs of that purple area. I wait for it to break out into this blue area. There's not much resistance in it, at least not until 1.2129. That's where my final target is.

If it retraces from here I've got my stop under the last 4h consolidation area which is also below thursday's bullish bar. Hope I'm not too greedy here.

What do you guys and gals think?
Attached Image(s) (click to enlarge)
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Thanks J16, Sam Seiden, Udine and Jacko
  • #116,369
  • Aug 27, 2012 3:13am Aug 27, 2012 3:13am
Day 2 of WIPG

Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.

What's your analysis? Where would you put your stop?

All new people are very welcome to WIPG.
Attached Image(s) (click to enlarge)
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Thanks J16, Sam Seiden, Udine and Jacko
  • #116,370
  • Aug 27, 2012 3:30am Aug 27, 2012 3:30am
Quoting HanSolo
Day 2 of WIPG

Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.

What's your analysis? Where would you put your stop?

All new people are very welcome to WIPG.
I still have this chart in my memory .... in fact i would sell it now with stop just above 1727
  • #116,371
  • Aug 27, 2012 3:41am Aug 27, 2012 3:41am
Quoting Greenhaze
I have a hard time finding much importance in this monthly zone. Personally i would wait for some kind of PA before taking any long position.

All in all ,diversity of views makes this thread interesting and i hope it will work out for you

all the best
gh

Yeah, GH.
It is looking like that, just as well it was only a demo as, while it was a good swing point , I did not like the monthly BEOB that is looking like it will form.

Thanks for your input there GH
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  • #116,372
  • Aug 27, 2012 3:56am Aug 27, 2012 3:56am
Quoting HanSolo
Day 2 of WIPG

Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.

What's your analysis? Where would you put your stop?

All new people are very welcome to WIPG.
Quoting ghous
My initial stop would begin right at the top of the DBHLC. Price has pulled back to the bar lows adjacent to the DBHLC and I would be keen on seeing them hold as resistance. The plan from here on would be to expect the next day to go down in which case my stop would get pulled down to above this minor flip. That should reduce my risk by more then half...pretty satisfactory.

If price continues up and ends up closing above this flip I'll kill the trade.

g.
So far so good. The flip we expected to hold as resistance did! Stop now just above this flip (more than 50% of the risk is off the table).

If 1.7 gives way we should see the next PPZ get hit

g.
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I believe . . .
  • #116,373
  • Aug 27, 2012 4:25am Aug 27, 2012 4:25am
Quoting HanSolo
Day 2 of WIPG

Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.

What's your analysis? Where would you put your stop?

All new people are very welcome to WIPG.
Nice game. I join


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  • #116,374
  • Aug 27, 2012 4:27am Aug 27, 2012 4:27am
Quoting Rust
Nice game. I join

Attachment
Great. Where's your stop?
Thanks J16, Sam Seiden, Udine and Jacko
  • #116,375
  • Aug 27, 2012 4:28am Aug 27, 2012 4:28am
Quoting HanSolo
Great. Where's your stop?
Sorry, just updated the chart
  • #116,376
  • Aug 27, 2012 5:17am Aug 27, 2012 5:17am
Quoting Rust
Nice game. I join


Attachment
Are you saying that this is a live chart with current price?
I mean the whole WIPG thing assumes that this bar broke right.
If it has not yet broken, it is not a trade.
  • #116,377
  • Aug 27, 2012 6:10am Aug 27, 2012 6:10am
Quoting ken.b
Hi,

Would like to ask, what is your opinion on this pair. Is the pin bar valid?

http://i1245.photobucket.com/albums/...0812pinbar.gif

Cheers,
Kenny
Hey Kenny

This is a very very tiny pinbar coming off a much stronger bearish move. There are a few keys to why this bar is likely not to push price higher

One tip is too zoom your chart out more so you can get the perspective of bar sizes.

Here is a chart

Hope this helps

Mike
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  • #116,378
  • Aug 27, 2012 6:10am Aug 27, 2012 6:10am
Quoting Pinbar
Are you saying that this is a live chart with current price?
No.

Quoting Pinbar
I mean the whole WIPG thing assumes that this bar broke right.
If it has not yet broken, it is not a trade.
Yes.
  • #116,379
  • Aug 27, 2012 6:14am Aug 27, 2012 6:14am
Quoting Rust
No.



Yes.
Unless we sell on a retracement to that box, which many people would. Including the big guy himself I would bet but yep not VALID or validated bar until it breaks

Mike
  • #116,380
  • Aug 27, 2012 6:14am Aug 27, 2012 6:14am
Quoting HanSolo
Great. Where's your stop?
This is a good exercise Han

Mike
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