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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

  • #119,201
  • Sep 28, 2012 10:29am Sep 28, 2012 10:29am
Quoting Thierry
Jarroo,

Can you explain if i did something wrong here? I went long at the HCR after the bar that broke through and closed above.
On H1 TF we can see price never hit the daily targets if we went long at the retest of the HCR (it hit the targets before the hit of the HCR).

The only reasons for me that this trade was more risky, is because the levels were already tested in the past, agree with that?
I'm not Jarroo (and don't actually know what a HCR is) but maybe you can ask yourself the following question.

Is the bar you traded from telling you that the market wanted to move higher?

I see one bullish candle after a strong reversal from a double top. What is your contingency plan for when price moves lower? Is your stop below the weekly swing low? If not what is the technical significance of your stop loss placement?

These are some of the questions I ask myself before entering a trade.
  • #119,202
  • Sep 28, 2012 10:39am Sep 28, 2012 10:39am
Quoting annu333
Closed this one. We have a saying in Estonia: If you want to catch a bird, then its better to have a sparrow in your hands then a eagle on the roof.

"A Bird in the Hand is Better than Two in the Bush"
  • #119,203
  • Sep 28, 2012 10:39am Sep 28, 2012 10:39am
Quoting trc
Hi,
this one I took today.
Everything on chart.

Regards,
Peter

Attachment
Nice chart...well done (saved)
  • #119,204
  • Sep 28, 2012 10:41am Sep 28, 2012 10:41am
Quoting bullzeye
GBP/USD

this one has begun to run...a lot of space down there

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GBP/USD

BAMM!!! Now this is a Mike bar

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  • #119,205
  • Sep 28, 2012 10:45am Sep 28, 2012 10:45am
Quoting bullzeye
GBP/USD

BAMM!!! Now this is a Mike bar

Attachment
Looks like a pretty clear path to 1.6 BRN as long as we close strong


Best
Mike
  • #119,206
  • Sep 28, 2012 11:39am Sep 28, 2012 11:39am
this will probably be only a session trade...but dbhlc with a 100 % retrace..couldnt resist......stop only 20 pips and will move to be mid session if this continues.....any comments good or bad would be appreciated.
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  • #119,207
  • Sep 28, 2012 11:42am Sep 28, 2012 11:42am
Quoting mbqb11
Looks like a pretty clear path to 1.6 BRN as long as we close strong


Best
Mike
Would that require it to close below the trendline on bullzeye's chart?
  • #119,208
  • Sep 28, 2012 11:55am Sep 28, 2012 11:55am
Quoting Slider20
Would that require it to close below the trendline on bullzeye's chart?
Hey Slider

There are a few things that would keep me from trading this outright.

Firstly it's not at a true swing high. This is something we want to see, but it's a big beob forming so that's a pretty strong sign that many will probably use as a means to get in short(perhaps on a retrace as well)

For me the FTA would be the RISING TL that we have, and then that starts to run in towards the BRN of 1.6

Best
Mike
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  • #119,209
  • Sep 28, 2012 11:58am Sep 28, 2012 11:58am
Quoting mbqb11
Hey Slider

There are a few things that would keep me from trading this outright.

Firstly it's not at a true swing high. This is something we want to see, but it's a big beob forming so that's a pretty strong sign that many will probably use as a means to get in short(perhaps on a retrace as well)

For me the FTA would be the RISING TL that we have, and then that starts to run in towards the BRN of 1.6

Best
Mike
Got it. Thanks!
  • #119,210
  • Sep 28, 2012 3:20pm Sep 28, 2012 3:20pm
Quoting brzvadeg
I sold of 0.8308 and 0.8320, closed 0.8230, seeing that the price failed to close below 0.8197 I took profits. although this should not have to do with the deal, but then I decided to take what the market gave me. I think you will agree with me. because we can always make a deal again after breaking 0.8197 or elsewhere.
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That is exactly how we do it brzvadeg . . Not a bad deal for long postion at that exit . .
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Indicators show the past. Price Action "Indicates" the future.
  • #119,211
  • Sep 28, 2012 3:22pm Sep 28, 2012 3:22pm
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Hi,

Sorry everyone's probably in weekend mode, thought I would post up a chart I have just noticed.

Kind Regards
Sanil
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  • #119,212
  • Edited 3:53pm Sep 28, 2012 3:32pm | Edited 3:53pm
Quoting Pinbar
Yes, its the best of Jim's & Jim's (Jarro's) world.

The space is interesting.
Let's see how it plays out at these weekly levels.
Hey Steve . .can you tell me what the GbpJpy's Weekly HCR level . .to the pip . .should be and a Open and a Close . .very little gap . . (Week of June and July 2012).

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #119,213
  • Sep 28, 2012 3:53pm Sep 28, 2012 3:53pm
Quoting sg_1988
Hi,

Sorry everyone's probably in weekend mode, thought I would post up a chart I have just noticed.

Kind Regards
Sanil
That's deadly! Good area to watch especially coming into that major swing low

Nice sanil

Mike
  • #119,214
  • Sep 28, 2012 3:56pm Sep 28, 2012 3:56pm
Quoting mbqb11
That's deadly! Good area to watch especially coming into that major swing low

Nice sanil

Mike
What is different about the EMAs 150 and 365 that makes them useful on our charts as opposed to other MAs?
  • #119,215
  • Sep 28, 2012 4:07pm Sep 28, 2012 4:07pm
Quoting jarroo
Hey Steve . .can you tell me what the GbpJpy's Weekly HCR level . .to the pip . .should be and a Open and a Close . .very little gap . . (Week of June and July 2012).

Jim
Quoting Pinbar
Missed my buy order by 4 pips. Aghhhhhhh

I set the order at 125.265, it should have been set at 125.339
Sorry I should have read ahead. .you did have them . .,

Bam! baby . (5min and 1min Signatures .. lol)

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #119,216
  • Edited 4:08pm Sep 28, 2012 4:08pm | Edited 4:08pm
Jarroo,

Can I get your thoughts on the USD/DKK? (For an entry after PBT&CA)

Thanks,

Slade
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  • #119,217
  • Sep 28, 2012 4:10pm Sep 28, 2012 4:10pm
Quoting Slider20
What is different about the EMAs 150 and 365 that makes them useful on our charts as opposed to other MAs?
Hey Slider

These are EMAs James has used for a long time. For me the number is not as important as understanding that it is a length of time and using that length of time as a dynamic S/R(It is simply an average of price over a certain period of time). Others commonly used are the 50 100 200 etc. I personally don't use EMAs anymore but I think it's more important to understand if you are using a short term, medium term, long term EMA and combining it with confluence or seeing where it is playing a role. As you can see in Sanil's chart clearly price is reacting in this region. We can also(and should) combine it with S/R/confluence/PA where you will gain more strength in that tool.

Best
Mike
  • #119,218
  • Sep 28, 2012 4:11pm Sep 28, 2012 4:11pm
Quoting bullzeye
it still a good level to watch for PA...i took my profits here (btw, this was a natural beauty, needs no make up )

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Very nice blulz . .
Indicators show the past. Price Action "Indicates" the future.
  • #119,219
  • Sep 28, 2012 4:11pm Sep 28, 2012 4:11pm
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Quoting Slider20
What is different about the EMAs 150 and 365 that makes them useful on our charts as opposed to other MAs?
Hi S,

http://www.forexfactory.com/showthread.php?t=29052

Jim uses the 150 and 365 ema's for confluence, he has found that price reacts off both them two ema's regularly providing long term flips in s/r.

I hope going through that thread makes things a little clearer

Kind Regards
Sanil
  • #119,220
  • Sep 28, 2012 4:29pm Sep 28, 2012 4:29pm
Quoting Pinbar
There is logic in this madness.
That being that, Jarroo mentioned that "These areas are the birth of trends" so, are these areas, fractal. Meaning that, if we have PA on one TF, can we go down a TF and find further PA to support, or create the higher TF PA?

But more importantly, will the lower TF PA, give us a sign that the higher TF PA that is yet to close, will close as PA, in the direction we are expecting price to go?

Well . .I have said that Trends are born from Consolidaition Breakouts, Price Pattern Breakouts, Deep Swing Point Breakouts . . . etc. These can be reversals or continuation of the new trend.

I like finding them on a higher time frame for more of a longer lasting trend.

But you can see them on a lower TF, but they are shorted lived.

Jim
Indicators show the past. Price Action "Indicates" the future.
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