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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

  • #117,081
  • Sep 2, 2012 3:56pm Sep 2, 2012 3:56pm
Quoting jarroo
Sorry Mike, did I disrupt your lesson?

I can be an obnoxious teacher's pet at times . .

Jim
no bother at all my friend
  • #117,082
  • Sep 2, 2012 3:57pm Sep 2, 2012 3:57pm
Quoting mbqb11
no bother at all my friend

cool .
Indicators show the past. Price Action "Indicates" the future.
  • #117,083
  • Sep 2, 2012 3:58pm Sep 2, 2012 3:58pm
Quoting rafstraszek
momentum loss??
you got it Raf
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  • #117,084
  • Sep 2, 2012 4:31pm Sep 2, 2012 4:31pm
Mike , Do you think GBP CHF Daily Pin Will work ??? It is lining up with my LCS long trade though ...
Human
  • #117,085
  • Sep 2, 2012 4:33pm Sep 2, 2012 4:33pm
Quoting dan89
Hi Jarroo

Not sure if you saw my last question a few days ago but I was just thinking about possible trade management methods for those of us with a 9-5 job. Do yo have any suggestions on how we can manage our trades ? we cant use 1hr/4hr signitures since we wont be at the charts. Any thoughts on setting sl/tp/trade management etc ?

Cheers
Dan

Yes there is method to just trading the Daily and/or Weekly TFs that only require a brief analysis at the end of each day (5:00 PM EST, New York Close). I'm still working on how best to present it in the PF as part of my videos series. I'll let you know the basics of it when its completed .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,086
  • Sep 2, 2012 4:43pm Sep 2, 2012 4:43pm
Quoting Chanya
Mike , Do you think GBP CHF Daily Pin Will work ??? It is lining up with my LCS long trade though ...
we are at a nice area C, but that's not a convincing enough close to play a buy out right. A touch trade off that LCS area is much more appropriate. For me to be a buyer of PA I would have wanted a nice BUOB closing above those highs around 5200

My analysis of this pair is still we are consolidating or in a more sideways market now like this

http://www.forexfactory.com/showthre...47#post5971347

Best
Mike
  • #117,087
  • Sep 2, 2012 5:03pm Sep 2, 2012 5:03pm
Quoting jarroo
Yes there is method to just trading the Daily and/or Weekly TFs that only require a brief analysis at the end of each day (5:00 PM EST, New York Close). I'm still working on how best to present it in the PF as part of my videos series. I'll let you know the basics of it when its completed .

Jim
Interesting. Ill have to purchase membership to the private forum sometime next week
  • #117,088
  • Edited 10:48pm Sep 2, 2012 10:08pm | Edited 10:48pm
Jim, in that post about the SL, I meant to ask if you were using a different SL approach to what you normally use. Obviously that is not the case.

I have a question about the weekly close, below this Daily confirmed support area we had on Thursday. The Thursday Daily candle low confirms this area as support. Now however, we have just had the Friday daily candle and the weekly candle close below this former support area. I imagine that we can consider this area to probably act more like resistance now. Simply by the fact that we have had a weekly & daily close below it.
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  • #117,089
  • Sep 2, 2012 10:36pm Sep 2, 2012 10:36pm
Quoting Pinbar
Ji, in that post about the SL, I meant to ask if you were using a different SL approach to what you normally use. Obviously that is not the case.

I have a question about the weekly close this Daily confirmed support area we had on Thursday. The Thursday Daily candle low confirms this area as support. Now however, we have just had the Friday daily candle and the weekly candle close below this former support area. I imagine that we can consider this area to probably act more like resistance now. Simply by the fact that we have had a weekly & daily...
I like to use the PBT&CAorB bar as the S/L placement . . interesting that on a PA setup the S/L is the same. .meaning the S/L is above or below the PA setup . .

Sure we had a Weekly close Below a Daily HCR level . .but didn't we also have a Weekly close Above a Daily HCR level as well??
Indicators show the past. Price Action "Indicates" the future.
  • #117,090
  • Sep 2, 2012 10:57pm Sep 2, 2012 10:57pm
Quoting jarroo
I like to use the PBT&CAorB bar as the S/L placement . . interesting that on a PA setup the S/L is the same. .meaning the S/L is above or below the PA setup . .

Sure we had a Weekly close Below a Daily HCR level . .but didn't we also have a Weekly close Above a Daily HCR level as well??
Yes, I understand that but, are we not going to retest the area at point A, before it will comes back to B?

Thanks Jim
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  • #117,091
  • Sep 2, 2012 11:14pm Sep 2, 2012 11:14pm
Quoting Pinbar
Yes, I understand that but, are we not going to retest the area at point A, before it will comes back to B?

Thanks Jim

Today it test "B" first . . now it may break through and Close Above "A" .

We are looking for this same market structure that I showed you on the EurAud and EurNzd, a start of a trend. . .the beginnings of a uptrend potential.

Price may fall apart and hit our S/L or a Daily may close below "B". ..who knows . ..let's wait and see where today's Daily closes.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,092
  • Sep 2, 2012 11:31pm Sep 2, 2012 11:31pm
Quoting jarroo
Today it test "B" first . . now it may break through and Close Above "A" .

We are looking for this same market structure that I showed you on the EurAud and EurNzd, a start of a trend. . .the beginnings of a uptrend potential.

Price may fall apart and hit our S/L or a Daily may close below "B". ..who knows . ..let's wait and see where today's Daily closes.

Jim
I hear you, thanks Jim.

I will watch the daily and see if it can show us where it wants to go.
  • #117,093
  • Sep 3, 2012 1:55am Sep 3, 2012 1:55am
Quoting jarroo
Yeah that 4 Hour PB on your interbank feed looks weak compared to the strong uptrend. But it still may workout . .meaning it would hit its immediate target and then start moving back up.

Yes I can see Price Consolidating between those Support and Resistance levels.
You were right, Jarroo. I underestimated the power that's still in the AUD pairs.

I moved my stops on AUDCHF to 0.9884 and AUDUSD to 1.0333.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #117,094
  • Sep 3, 2012 2:10am Sep 3, 2012 2:10am
Quoting Pinbar
I hear you, thanks Jim.

I will watch the daily and see if it can show us where it wants to go.

I guess we forgot to talk about "C", "D", "E" and "F" . etc . .lol . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,095
  • Sep 3, 2012 2:12am Sep 3, 2012 2:12am
Quoting HanSolo
You were right, Jarroo. I underestimated the power that's still in the AUD pairs.

I moved my stops on AUDCHF to 0.9884 and AUDUSD to 1.0333.

Nice Hans . . . .look out below . . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,096
  • Sep 3, 2012 2:13am Sep 3, 2012 2:13am
Well, so much for the theory I worked our or rather, put into my head that the B area would have more power to it because of the weekly CB.
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  • #117,097
  • Sep 3, 2012 2:18am Sep 3, 2012 2:18am
Quoting Pinbar
I hear you, thanks Jim.

I will watch the daily and see if it can show us where it wants to go.

Notice that the entry on the Close was valid because of the previous day's (Friday's) Daily Close Confirmation of Support. .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,098
  • Sep 3, 2012 2:20am Sep 3, 2012 2:20am
Later got to go . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,099
  • Sep 3, 2012 2:27am Sep 3, 2012 2:27am
Quoting jarroo
Notice that the entry on the Close was valid because of the previous day's (Friday's) Daily Close Confirmation of Support. .

Jim
It played out exactly as you had mentioned.

Either I am really thick or confused or both but, wouldn't a long entry on the close of the weekly bar below this daily level, be going against the methodology?
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  • #117,100
  • Sep 3, 2012 2:38am Sep 3, 2012 2:38am
Quoting Pinbar
Jim
It played out exactly as you had mentioned.

Either I am really thick or confused or both but, wouldn't a long entry on the close of the weekly bar below this daily level, be going against the methodology?

Did not the Weekly Close Above Daily HCR "B" tooo?? It is not against my methodology . .it agrees with it.

Forget the Weekly stay on the Daily.
Indicators show the past. Price Action "Indicates" the future.
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