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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

  • #117,901
  • Sep 8, 2012 1:34pm Sep 8, 2012 1:34pm
Quoting 0421
I see this in this way:
Here are some thoughts on the Swissy. ( and reverse for the Euro)

Those past Daily/Weekly LCS levels are strong ones and since PBT&CB them , Price can react and contine down. . .especailly if this down trend is strong.

If the down trend is present and maybe not as strong but still present ..Price may retrace to the more near LCS level on the Daily . the .9535 . . this level hasn't been tested yet and continue down . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,902
  • Sep 8, 2012 1:55pm Sep 8, 2012 1:55pm
Mike, you here ?
I keep this chart on my watchlist for months lol And see what we got here
Like it ? I'll be pending short on monday


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PS- i even think this could be appetizing to jarroo's pbt
Am i right, Jarroo ?
  • #117,903
  • Sep 8, 2012 2:13pm Sep 8, 2012 2:13pm
Hi all,
i have got a question how can i make a html file (or other format) with all posts from some FF member ? I saw these files here dozen times but cant find how to make some. thank for help T.
  • #117,904
  • Sep 8, 2012 3:36pm Sep 8, 2012 3:36pm
Hi Mike just wondering what your take is on GBP NZD that has gone past the gap. As both pairs are fairly closely correalted it seems they are not quite in synch for the moment. Is it a case of watch and wait for PA to give us a clue.
Thanks Alex
  • #117,905
  • Sep 8, 2012 5:39pm Sep 8, 2012 5:39pm
Quoting extremerrage
i know that ur pbt pdf created a nuclear disaster among the new comers and u promised that pbt 2 is comin out soon , but for some reasons u changed ur mind , we all know that our julius cesar jarroo is making a great job concerning all the questions. but a promise is a promise or i will go on hunger strike .so we need pbt 2
I respect everything you said but understand , Mike has been here for YEARS and me , only few months , and if he says that everything is in this thread and everyone should read it from beginning under any circumstance , that is what every one should do ... I am no member of the private forum yet , I learned everything here and still learning every day ... Do that , and you will know everything there is to know ... Best of luck friend ...
Human
  • #117,906
  • Sep 8, 2012 9:42pm Sep 8, 2012 9:42pm
Quoting jarroo
The birthing process can be a bit messy . .lol . .just kidding, Steve.

Is there a shorting opportunity now on the EurSek?
There may be, if it comes back but, not too much space.
I presume you are talking about the daily TF?
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  • #117,907
  • Sep 8, 2012 9:55pm Sep 8, 2012 9:55pm
Quoting ghous
Your biggest challenge lies in managing your expectations.

Ever wondered why people start off with a big bang only to be mauled and ruthlessly smacked around by the markets soon after? Yes your wins and losses are merely a function of probability, but the persistence of the phenomena of beginners luck followed by reality striking instead of the other way round should make you sit back and wonder why it is the way it is.

Ever experienced the "sting" when you lose on a trade you really expected to win on? Ever wondered why a losing streak almost...
Great post Ghous.
Scary to think we are all living in a virtual reality created by our mind and ego.
  • #117,908
  • Sep 8, 2012 10:26pm Sep 8, 2012 10:26pm
Quoting jarroo
Great post Hans . . . . on the question of pending orders and Space.

I was thinking about the best way to say what you did . .and you nailed it . . . .I may steal your response for future use . .
Thanks, Jarroo. This really flatters me. I always wished that I could come back to this thread some day and give something back after all I have received from you guys.

Quoting ghous
Your biggest challenge lies in managing your expectations.
Ghous, you should write a book about this stuff. Seriously, this post is brilliant.

Quoting Barefoot
I wanted to follow up on my earlier post about finding this thread and finally experiencing consistent winning trades.

My trading in recent weeks has been absurdly good, and I am finding that I've entered new psychological territory. I know how difficult trading is, and it makes me fear that this kind of success is unsustainable; like at any moment it's going to blow up on me and stop working.
I know exactly what you are talking about, Barefoot. And I feel like I've been through this a gazillion times. But let me tell you this: if you are persistent and keep pushing through your mistakes and fears you will finally catch a glimpse at what this is all about. And then there will be no more guessing, no more nail biting (ok, maybe a little bit, LOL) and no more not knowing if this is it. You will wake up one morning, turn on your computer, open up a chart and know exactly what you are going to do and why you are going to do it. You may not be the greatest trader by then and you may not even be right with your decisions most of the time but you will be able to look back at a trade and know exactly why it failed. And that is a far better feeling than nailing ten trades in a row and not having the slightest clue why you did. Because that's when confidence kicks in.
And I can tell you for sure that it is not the succesful trades that lead you there. It's the mistakes you made, the pain you felt when you again arrived at the conclusion that this setup/method/month of trading/whatever was not it. And that's why you should follow Jarroo's advise and smile at your bad trades even though they hurt so much and try your patience. Because if you persevere each and every one of them will be responsible for your success and the confidence you will later have.

Keep up the good work!
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #117,909
  • Sep 8, 2012 10:30pm Sep 8, 2012 10:30pm
Hey PB, you are awake, too? What time is it in China?
Thanks J16, Sam Seiden, Udine and Jacko
  • #117,910
  • Sep 8, 2012 10:42pm Sep 8, 2012 10:42pm
Something interesting to watch with some confluence? Monthly IB on 1.30 BRN too.
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Price is beautiful. A repetitive method is a competitive method.
  • #117,911
  • Edited Sep 9, 2012 1:49am Sep 8, 2012 11:40pm | Edited Sep 9, 2012 1:49am
Quoting Chanya
Man You are a LEGEND .... I just red the whole thing .. How do you do this ??? We have all been through this , I am still going through this almost every day , Last week was a big example of that , but yet you still can put it into such effective words ... Where are you from ? Mars ?
Hi,

Let me recommend a book for you (ALL):
Anthony Robbins : Unlimited Power

Awsome book. All about this "successful mindset stuff" .
You can download form internet...free!
Mától én vagyok a Soros!
  • #117,912
  • Sep 9, 2012 2:04am Sep 9, 2012 2:04am
Quoting HanSolo
Hey PB, you are awake, too? What time is it in China?
Yeah, it is only 3pm right now and it was, 12 pm when you asked.
What time is it in Germany?

Ah, 9 am now so, you are 6 hours behind us here in PRC.
  • #117,913
  • Sep 9, 2012 2:21am Sep 9, 2012 2:21am
Quoting 0421
Jarroo please tell me what do you think about TP on this trade.

THX

chart:
Excellent chart as always, 0421 Yes that is a perfect Take Profit level . . .Why? . .because if PBT&CA it, you can always re-enter the trade long.

chart . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,914
  • Sep 9, 2012 2:25am Sep 9, 2012 2:25am
Quoting Pinbar
Yeah, it is only 3pm right now and it was, 12 pm when you asked.
What time is it in Germany?

Ah, 9 am now so, you are 6 hours behind us here in PRC.
Yes, it was about 4 am. I just couldn't sleep and saw you in the online list.
Being absent from this thread for a while I totally missed your move to China. Do you like it so far?

Update on my trades:
GBPUSD - moved my stop to 1.5968. I'm not sure it will make it to my target 1.6045 at the beginning of next week and I don't want to be wiped out by a bigger retrace.
GBPJPY - price got pretty far behind my entry line. If it would have closed like that in the middle of the week I'd probably be out by now. But I think it still has potential to go up.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #117,915
  • Sep 9, 2012 2:37am Sep 9, 2012 2:37am
Quoting 0421
and one more question jarroo to you.

THX for your help.

chart:
Its a good question, 0421. Its always nice to have a Daily Close Confirmation to show that our level has indeed flipped from Support to Resistance (as in this case).

An entry on the Close of the PBT&CB (or A) Bar is a valid entry option when there is bar is a Mike Bar (large bar, story, etc.) and trading into some Big Space.

Its a valid entry option that should be noted and considered on ever setup that qualifies.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #117,916
  • Sep 9, 2012 2:44am Sep 9, 2012 2:44am
Quoting Rust
Mike, you here ?
I keep this chart on my watchlist for months lol And see what we got here
Like it ? I'll be pending short on monday


Attachment

PS- i even think this could be appetizing to jarroo's pbt
Am i right, Jarroo ?

Absolutely, Rust . .

This one may just keep dropping . .
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Indicators show the past. Price Action "Indicates" the future.
  • #117,917
  • Sep 9, 2012 2:55am Sep 9, 2012 2:55am
Quoting Pinbar
There may be, if it comes back but, not too much space.
I presume you are talking about the daily TF?
Yes, Daily TF . . that is the only TF I presented.

There is some traffic, yes. . . let's see how it works out. . .here are some S/L options . .we can enter on a TT or we can wait for a Daily Close Confirmation of Resistance or both.

A key thing to watch is if it fails to act as Resistance then Closes Above our previous HCR level . returning Price to Support.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #117,918
  • Sep 9, 2012 3:04am Sep 9, 2012 3:04am
Quoting nwo-trader
Something interesting to watch with some confluence? Monthly IB on 1.30 BRN too.
This zoomed it looks fantastic. But i have a quick question for you:
Do you look your charts the same way, or you posted this one just to make the setup look better?
  • #117,919
  • Sep 9, 2012 3:10am Sep 9, 2012 3:10am
Quoting 0421
Jarroo please tell me what do you think about TP on this trade.

THX

chart:
Quoting Slider20
Sure am. On the lower TF I can see how price is now respecting HCR 2 . I'm not in this one, but I'm watching.

Quoting jarroo
Hey Slider. .I see you saw that Price jumped down to the HCR 2 (Low of the Day) . .it could have gone to HCR 1 and still be in an uptrend. . .just like how I tried to describe in that post.

You'll notice I'll always say, "let's watch this" . . not .."let's trade this." Just like James16 . .we do alot of watching . .

Jim


Hey 0421 . .the UsdSek is a great example (to say the least . .lol) on why Taking Profit at these key levels are important. Look to take full profits at areas where you would consider to trade in the opposite direction . .in this case short . .chart . .

Does this make sense to you?

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #117,920
  • Sep 9, 2012 3:18am Sep 9, 2012 3:18am
Quoting jarroo
Hey 0421 . .the UsdSek is a great example (to say the least . .lol) on why Taking Profit at these key levels are important. Look to take full profits at areas where you would consider to trade in the opposite diection . .in this case short . .chart . .

Does this make sense to you?

Jim
Let's see if this LCS level will hold as Support on the UsdSek.
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Indicators show the past. Price Action "Indicates" the future.
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