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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

  • #116,741
  • Aug 29, 2012 9:58am Aug 29, 2012 9:58am
Quoting ghous
I love your grasp on Price action.

its a pleasure to have you with the group Jonas

*respect*

g.
such lovely posts keep me posting and working on and on to master this business and finally make it my fulltime job in the future...

thank you so much G. !

by the way : what traders post in the e-book thread :


Quoting m.m.m.
It would be more fun if you could upload the stuff into a proper place, like a public dropbox folder, where I can just download it without having to visit some shady "1-click" hoster, where I am plagued by their "need javascript"-bla bla bla. Need I f*ck up my system?
this sometimes is so ridiculous
Hero calls followed by margin calls...
  • #116,742
  • Aug 29, 2012 10:09am Aug 29, 2012 10:09am
Quoting mbqb11
Hey Delta

I am sorry I should have put up the MACD it was early


Here ya go notice the divergence

Best
Mike
yes thanks, I just didnt know if it was some other kind of outlandish divergence you were talking about
  • #116,743
  • Aug 29, 2012 10:11am Aug 29, 2012 10:11am
Jumped in. I like PA on lower time frame. Bearish outside.
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  • #116,744
  • Aug 29, 2012 10:18am Aug 29, 2012 10:18am
Quoting Winston Reed
Jumped in. I like PA on lower time frame. Bearish outside.
if someone would've asked me this would be a nono sell area for me....

what made you selling there ?

nothing offensive, just want to get behind your idea

regards,
Jonas
Hero calls followed by margin calls...
  • #116,745
  • Aug 29, 2012 10:29am Aug 29, 2012 10:29am
Quoting PhAnTi'
if someone would've asked me this would be a nono sell area for me....

what made you selling there ?

nothing offensive, just want to get behind your idea

regards,
Jonas
None taken PhAnTi. Nothing but respect for you and your concern. There has been progressive breaking and closing below daily/weekly levels. Close below weekly level previous daily candle. Today on lower time frame price retested the level and on H1 chart there was a nice bearish outside bar. I see on weekly that it could go long so my SL is pretty tight. Risk is only 15-20 pips here.
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  • #116,746
  • Aug 29, 2012 10:33am Aug 29, 2012 10:33am
Quoting Winston Reed
Jumped in. I like PA on lower time frame. Bearish outside.
I also saw this but I passed this ... Jarroo always says always look at higher time frames too ... You have looked at lower TF's , You might want to look at weekly now ... See where you have sold ... Weekly levels may hold as they were untested too ... If I were you , I would be BE now ... Too risky trade ...
Human
  • #116,747
  • Aug 29, 2012 10:35am Aug 29, 2012 10:35am
Quoting Chanya
I also saw this but I passed this ... That is why Jarroo says always look at higher time frames too ... You have looked at lower TF's , You might want to look at weekly now ... See where you have sold ... Weekly levels may hold as they were untested too ... If I were you , I would be BE now ... Too risky trade ...
My post recognizes the weekly scenario and thus my tight SL. But thanks. I guess when one is aware of the risk we take precautions like tight SLs.

I looked at lower time frame for PA but took trade based on daily time frame (close below a weekly level on my feed). Jarroo also looks at lower time frames for signatures. That H1 bearish outside bar looks like a signature.
  • #116,748
  • Aug 29, 2012 10:36am Aug 29, 2012 10:36am
Quoting Winston Reed
My post recognizes the weekly scenario and thus my tight SL. But thanks. I guess when one is aware of the risk we take precautions like tight SLs.
Human
  • #116,749
  • Aug 29, 2012 10:51am Aug 29, 2012 10:51am
Quoting deltaskelta
UMMMM... maybe I have misunderstood this to the core, but isnt the first picture there pretty standard PBT&CB and then retests as resistance and falls from there?

it looks pretty identical to the picture you drew to me...?

EDIT: meant to quote this post as well ^^^^^^

As Jarroo said, it is a valid entry, but this is not the entry Jarroo & I are waiting for. Also, if we shorted it at that area, it is going right into the lower daily level which is too tight for me. The FTA is too close.
  • #116,750
  • Aug 29, 2012 10:54am Aug 29, 2012 10:54am
Quoting Winston Reed
None taken PhAnTi. Nothing but respect for you and your concern. There has been progressive breaking and closing below daily/weekly levels. Close below weekly level previous daily candle. Today on lower time frame price retested the level and on H1 chart there was a nice bearish outside bar. I see on weekly that it could go long so my SL is pretty tight. Risk is only 15-20 pips here.
so you entered from the H1, then it is clear
Hero calls followed by margin calls...
  • #116,751
  • Aug 29, 2012 10:59am Aug 29, 2012 10:59am
Quoting Winston Reed
Jumped in. I like PA on lower time frame. Bearish outside.
I'm watching this also. Hopefully that Weekly level Chanya pointed out would turn resistance at the potential retest.

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I don't need easy. I just need possible.
  • #116,752
  • Aug 29, 2012 11:01am Aug 29, 2012 11:01am
Quoting DaGrizlyBull
I'm watching this also. Hopefully that Weekly level Chanya pointed out would turn resistance at the potential retest.

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That would be nice!
  • #116,753
  • Aug 29, 2012 11:05am Aug 29, 2012 11:05am
Quoting DaGrizlyBull
I'm watching this also. Hopefully that Weekly level Chanya pointed out would turn resistance at the potential retest.

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What are all these yellow lines ??? Major PPZ's ???
Human
  • #116,754
  • Aug 29, 2012 11:13am Aug 29, 2012 11:13am
Quoting Chanya
What are all these yellow lines ??? Major PPZ's ???
Give or take. It's my idea of trouble areas along the way.
I don't need easy. I just need possible.
  • #116,755
  • Aug 29, 2012 12:08pm Aug 29, 2012 12:08pm
I have question to pbt guys: if your pending order was ALMOST hit, did you delete your pending order? like here, I have sell order - delete or leave it?
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  • #116,756
  • Aug 29, 2012 12:22pm Aug 29, 2012 12:22pm
Quoting rafstraszek
I have question to pbt guys: if your pending order was ALMOST hit, did you delete your pending order? like here, I have sell order - delete or leave it?
to be honest i never use pending orders....
do you really want to sell when price hits a certain level ?
or do you want to trade a price pattern / confirmation at a certain level ?
Hero calls followed by margin calls...
  • #116,757
  • Aug 29, 2012 12:26pm Aug 29, 2012 12:26pm
Quoting PhAnTi'
to be honest i never use pending orders....
do you really want to sell when price hits a certain level ?
or do you want to trade a price pattern / confirmation at a certain level ?
This is why I wrote "to pbt guys".
I can understand why people don't like this method, but "smaller sl - no bar confirmation" suits me better than bar "confirmation - bigger sl"...I just like jarroo method better

I want the best price, the lowest risk and the biggest gain I can get.
  • #116,758
  • Aug 29, 2012 12:36pm Aug 29, 2012 12:36pm
wondering what you all think about this classic j16 setup on platinum futures.

chart says all...Let me know what you think. Looks pretty good to me, the only problematic factor would be that there is not a whole lot of space until the FTA...But, I can never find any trade where there is enough space.

This actually brings up another topic altogether. How rare is it to find a good setup with SPACE? every trade I take seems to have very limited space, but I know this going into it and trade accordingly.
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  • #116,759
  • Aug 29, 2012 12:41pm Aug 29, 2012 12:41pm
Quoting deltaskelta
wondering what you all think about this classic j16 setup on platinum futures.

chart says all...Let me know what you think. Looks pretty good to me, the only problematic factor would be that there is not a whole lot of space until the FTA...But, I can never find any trade where there is enough space.

This actually brings up another topic altogether. How rare is it to find a good setup with SPACE? every trade I take seems to have very limited space, but I know this going into it and trade accordingly.

Thats not a pinbar in my book. I had to struggle to notice it If it had the nose down into the grey area it would have been a great PBT & CA opportunity with pinbar confirmation

I think....
I don't need easy. I just need possible.
  • #116,760
  • Aug 29, 2012 12:43pm Aug 29, 2012 12:43pm
Quoting deltaskelta
wondering what you all think about this classic j16 setup on platinum futures.

chart says all...Let me know what you think. Looks pretty good to me, the only problematic factor would be that there is not a whole lot of space until the FTA...But, I can never find any trade where there is enough space.

This actually brings up another topic altogether. How rare is it to find a good setup with SPACE? every trade I take seems to have very limited space, but I know this going into it and trade accordingly.
Hey Delta,

The idea is right in spotting that superb region of confluence. Notice however the size of your pin bar is pretty small which takes some points off of it. Notice also that it doesn't quite touch the region of confluence. Now if this very pin bar had a longer tail to it that penetrated or at least tested the 1500 BRN it would have certainly pushed this setup into the A grade category.

Be back with a post on space in a bit...

g.
I believe . . .
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