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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

  • #118,121
  • Sep 11, 2012 9:44am Sep 11, 2012 9:44am
Quoting jarroo
Yeah, the .9480 was near by so it tested that one too . .I guess the .9535 was to far away and the down trend to strong to test that one.
... so how do we decide on what levels to take out trades from ? All of them ?? In hindsight I can always pick the correct level wiht the correct signiture whether its 1hr or 4hr - if the 1hr happens to fail, or the DCC if the 4h happens to fail.

Cheers
Dan
  • #118,122
  • Sep 11, 2012 9:46am Sep 11, 2012 9:46am
Quoting dan89
... so how do we decide on what levels to take out trades from ? All of them ?? In hindsight I can always pick the correct level wiht the correct signiture whether its 1hr or 4hr - if the 1hr happens to fail, or the DCC if the 4h happens to fail.

Cheers
Dan
Yes that's one way to do it, Dan . .or just wait for the Daily Close Confirmation . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,123
  • Sep 11, 2012 9:51am Sep 11, 2012 9:51am
Nice One.

As price is kind of stalled in that area, I would like divergence to get developed for trade and ignore PBTCA due to traffic area.

Quoting 0421
a have a question to everyone, do you use a histogram MACD?? and what about situaction when we have PBT&CA but on histogram we have a divergence to ? like on this chart below. do you still like this trade??

chart:
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,124
  • Edited 10:22am Sep 11, 2012 9:51am | Edited 10:22am
Waiting for the Close on this Wedge breakout . .Mike Bar in the making ..
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Indicators show the past. Price Action "Indicates" the future.
  • #118,125
  • Sep 11, 2012 9:51am Sep 11, 2012 9:51am
is it mike still traumatized from the jump ?? i think it is just an after affect
any way boss need ur opinion about these tblzz , what if price close below ? is it a valid setup?
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  • #118,126
  • Sep 11, 2012 9:51am Sep 11, 2012 9:51am
Quoting jarroo
Yes that's one way to do it, Dan . .or just wait for the Daily Close Confirmation . .
Ok cool. I think I was focusing too much on picking the decent looking levels and discarding ones that didnt show strength. I will place pending orders on each level from now on and use the 1hr signitures on each level .. I guess.

Cheers
Dan
  • #118,127
  • Sep 11, 2012 9:53am Sep 11, 2012 9:53am
Quoting ritesh_fx
Nice One.

As price is kind of stalled in that area, I would like divergence to get developed for trade and ignore PBTCA due to traffic area.
Funny . . I would ignore divergence and follow Price . ..just how I see it. .
Indicators show the past. Price Action "Indicates" the future.
  • #118,128
  • Sep 11, 2012 9:56am Sep 11, 2012 9:56am
Quoting Gogolak
Do you mean SOLD, dont you?
What? NO - I wrote correctly...
Price close ABOVE yellow, then go down and touched yellow line (triggering my buy order), then go up to pink (and I move my sl to be)...well then my sl was hit - but I didn't loose anything (be)...I'm not sure what you mean by sold?? You are talking about different entry??
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  • #118,129
  • Sep 11, 2012 9:57am Sep 11, 2012 9:57am
Quoting dan89
Ok cool. I think I was focusing too much on picking the decent looking levels and discarding ones that didnt show strength. I will place pending orders on each level from now on and use the 1hr signitures on each level .. I guess.

Cheers
Dan
Focus on both . .the Retracement with Signatures and Daily Close Confirmation. . .make note of both situations. Do it for a month or two . to as many pairs that you can follow. A pattern that you like will emerge .
Indicators show the past. Price Action "Indicates" the future.
  • #118,130
  • Sep 11, 2012 10:03am Sep 11, 2012 10:03am
Quoting jarroo
Focus on both . .the Retracement with Signatures and Daily Close Confirmation. . .make note of both situations. Do it for a month or two . to as many pairs that you can follow. A pattern that you like will emerge .
GbpNzd . .Daily Close Confirmation of Resistance . .
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Indicators show the past. Price Action "Indicates" the future.
  • #118,131
  • Sep 11, 2012 10:06am Sep 11, 2012 10:06am
Quoting jarroo
Hey Bhay,

BRNs are important but for me they need to be aligned or confluenced with S/R. I know what you're thinking . .the BRNs formed the S/R . .I would tend to agree with you and so would Mike. I like to see that extra confluence with the BRNs to prove its strength.

The LCS you are looking at is a valid level but its in the the middle of consolidation . .valid but no that strong. . better if it was at a Swing Low.

I like that 98.86 HCR level . .it hasn't been tested yet . .

Jim
I guess we are gonna have to wait some time now for it ....
Human
  • #118,132
  • Sep 11, 2012 10:08am Sep 11, 2012 10:08am
Quoting Chanya
I guess we are gonna have to wait some time now for it ....
Are you sure?? . .
Indicators show the past. Price Action "Indicates" the future.
  • #118,133
  • Sep 11, 2012 10:10am Sep 11, 2012 10:10am
Quoting dan89
Yes but the bottom level was also untested. You mentioned picking levels that have yet to be tested over tested level ...
TREAT THEM AS A PPZ ... All were untested , and all will be retested ... Dont just concentrate on one when you have multiple levels to look at ... That is why I have said it alot of times before and now again , treat them as a PPZ ... And if you are not comfortable with alot of levels aligning up together , skip that setup ... There will be plenty others .

Regards
Human
  • #118,134
  • Sep 11, 2012 10:11am Sep 11, 2012 10:11am
Quoting extremerrage
is it mike still traumatized from the jump ?? i think it is just an after affect
any way boss need ur opinion about these tblzz , what if price close below ? is it a valid setup?
sweet one E! I totally missed that. 3 bar low with the gap go close. Look how price closed gap and is bouncing. Very nice spot


Jump was not scary at all
Mike
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  • #118,135
  • Sep 11, 2012 10:13am Sep 11, 2012 10:13am
Quoting jarroo
Are you sure?? . .
Not at all , just angry with its laziness ...
Human
  • #118,136
  • Sep 11, 2012 10:14am Sep 11, 2012 10:14am
Quoting jarroo
Hey Bhay,

BRNs are important but for me they need to be aligned or confluenced with S/R. I know what you're thinking . .the BRNs formed the S/R . .I would tend to agree with you and so would Mike. I like to see that extra confluence with the BRNs to prove its strength.

The LCS you are looking at is a valid level but its in the the middle of consolidation . .valid but no that strong. . better if it was at a Swing Low.

I like that 98.86 HCR level . .it hasn't been tested yet . .

Jim
Yeah I think price is going to test this area too Jim, VBRN 100 nice channel
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  • #118,137
  • Sep 11, 2012 10:15am Sep 11, 2012 10:15am
Quoting ritesh_fx
Nice One.

As price is kind of stalled in that area, I would like divergence to get developed for trade and ignore PBTCA due to traffic area.
That is obviously something new to read to say the least ...
Human
  • #118,138
  • Sep 11, 2012 10:16am Sep 11, 2012 10:16am
Quoting jarroo
Focus on both . .the Retracement with Signatures and Daily Close Confirmation. . .make note of both situations. Do it for a month or two . to as many pairs that you can follow. A pattern that you like will emerge .
Ok thanks Jarroo. I will give it a try for a month and see what happens
  • #118,139
  • Sep 11, 2012 10:18am Sep 11, 2012 10:18am
Quoting Chanya
TREAT THEM AS A PPZ ... All were untested , and all will be retested ... Dont just concentrate on one when you have multiple levels to look at ... That is why I have said it alot of times before and now again , treat them as a PPZ ... And if you are not comfortable with alot of levels aligning up together , skip that setup ... There will be plenty others .

Regards
Im going to focus on what Jarroo has advised me to do
  • #118,140
  • Sep 11, 2012 10:19am Sep 11, 2012 10:19am
I'm thinking about usdcad (close below yellow)...Any thoughts? LCS was created some time ago, but it seems that price still reacts to it...

Jarroo, Chanya - on you list?
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