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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

  • #119,501
  • Oct 6, 2012 11:57am Oct 6, 2012 11:57am
I like CADCHF here on daily. Price broke down out of a channel, broke recent lows around 0.9500 and formed a pinbar on Friday. Looks like first FTA would be at 0.9400, and it's a strong level, so there needs to be consideration for it. But if we break below, there's lots of space to the downside. If we stall and break back up, things still look good for long if it re-enters the channel.

It looks like it's coming off the top trendline of a channel on the weekly. So that's working in our favor for a short too.

My biggest concern is whether this counts as a swing high or not, as I have a hard time identifying those. I don't know that we are, but action seems to indicate that it moved up and was met with lots of downward pressure, so maybe it's a shallow swing.
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  • #119,502
  • Oct 6, 2012 1:00pm Oct 6, 2012 1:00pm
Hi

Is anyone eyeing 1.3163 area on the EU?
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  • #119,503
  • Oct 6, 2012 1:00pm Oct 6, 2012 1:00pm
I kinda like EURAUD too. On the weekly it is in a downward trend, but on the daily it's upwards and looks to be gunning for the 1.3000 area. If it retraces back to around 1.2570, it would be at a PPZ area as well as a swing low in the upwards channel. I believe first FTA would be 1.3000, the weekly trendline, which should provide some action.
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  • #119,504
  • Oct 6, 2012 1:01pm Oct 6, 2012 1:01pm
linta on weekly. there is an important resistance zone at 19.60 to 20.00 usd.
above ~19.60 usd this may explode.
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meine augen sind die sterne
  • #119,505
  • Oct 6, 2012 1:26pm Oct 6, 2012 1:26pm
myl on weekly and monthly.
25 usd as a trigger for longs.
although volume is in a downtrend on the monthly, making the breakout a little more difficult.
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meine augen sind die sterne
  • #119,506
  • Oct 6, 2012 2:40pm Oct 6, 2012 2:40pm
tsco on weekly. amazing uptrend (whicht started at 1 usd in 2001).
good breakout above 100 usd.
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meine augen sind die sterne
  • #119,507
  • Edited 10:10pm Oct 6, 2012 9:51pm | Edited 10:10pm
Quoting dan89
Hi Pinbar, I was just wondering if your a member of the PF. I think ive read somewhere that you are. Just wondering what your FX journey has been like, how long have you been trading for, and are you now trading profitably, what are you methods etc ?

Cheers
Dan

I was a member of the PF, circumstances did not allow me to stay for too long.
Kind of up and down on the journey, one moment I feel I have it, the next it seems to escape me like some kind of phantom & I do something stupid.
As J16 says, "trading is a Damn Hard Business & only a few EVER make it".
Trying to internalize it right now so that, I am not just emulating what I have learned but, really make it second nature, like riding a bicycle. Remember how hard it was to first ride that bicycle and, how now you can never forget how to ride a bicycle?
I tend to over complicate things when, it needs to be kept as simple as it really is. This is also human nature, I believe. You know, "It can't be that simple" even though, it is.
Maybe we over complicate things for fear of success or failure, or possibly both.
It is a heart searching journey I believe because we are trying to overcome the very emotions that drive the market and indeed ourselves.
If you get what I mean.

Still on the journey, it is a long way.
  • #119,508
  • Oct 7, 2012 2:05am Oct 7, 2012 2:05am
Quoting Martin600
I would say that your areas are great and strong. I think that the best what you can do is to go through all james16 and Mikeīs charts. I think that after that you shoud be able to recognize great ones.
Yeah ive been going through James and Mike's charts for a while. Just want to get Mike's opinion on these areas to look for decent PA bars ..

Cheers
Dan
  • #119,509
  • Oct 7, 2012 2:10am Oct 7, 2012 2:10am
Quoting Price.Action
Hi

Is anyone eyeing 1.3163 area on the EU?
That area looks a little too 'fitted' to me, if that makes sense ...but then im not trading profitably so best not to take my advice. Thats the thing i've noticed about this forum ... lots of members who are not trading with consistant profits are giving out advice to others who are in the same situation as them. Ive done that exact thing in the past, giving out advice, will stop that from now on

Cheers
Dan
  • #119,510
  • Oct 7, 2012 2:13am Oct 7, 2012 2:13am
Quoting Pinbar
I was a member of the PF, circumstances did not allow me to stay for too long.
Kind of up and down on the journey, one moment I feel I have it, the next it seems to escape me like some kind of phantom & I do something stupid.
As J16 says, "trading is a Damn Hard Business & only a few EVER make it".
Trying to internalize it right now so that, I am not just emulating what I have learned but, really make it second nature, like riding a bicycle. Remember how hard it was to first ride that bicycle and, how now you can never forget how to ride a bicycle?
I...
Thanks for the reply mate. Any particular reason why you could'nt stay signed up to the PF ? Just curious ..

I believe if I stick with it then I will make it.. Its something that can be learnt ...If one person can make it, then so can another.

Cheers
Dan
  • #119,511
  • Edited 4:03am Oct 7, 2012 2:30am | Edited 4:03am
Quoting dan89
Thanks for the reply mate. Any particular reason why you could'nt stay signed up to the PF ? Just curious ..

I believe if I stick with it then I will make it.. Its something that can be learnt ...If one person can make it, then so can another.

Cheers
Dan
Totally agree there.

There were many reasons, divorce, long and grueling court case, re marrying, building another home, moving continents, injury etc.
None of the reasons were because the pf had any problems. In fact I could not praise the pf or the people there enough. The only thing I could say is, the site is rather enormous and can be daunting at first. (Edit) This may be different now that the site is getting revamped.
Mike is great a will answer anyone's questions usually in minutes even on Xmas day. One thing I will say is, they do not spoon feed people, you are pretty
much left to your own devices with the materiel. It is up to the individual to study for themselves. Also, Jarroo did not have his own site while I was there, which I am very sorry to say. Currently thinking of trying to join again, just for Jarroo's stuff. I am in China and am thus not able to get a credit card I can use on international payments.
Hope this helps.
  • #119,512
  • Oct 7, 2012 4:11am Oct 7, 2012 4:11am
I like these pictures... willl try to trade them next week.

AUDCAD is pretty nice too... will look to retest parity... weekly level 1.0022. nice place to earn some pips.
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all is eternal - this is good news for people who loves bad news
  • #119,513
  • Oct 7, 2012 4:33am Oct 7, 2012 4:33am
Quoting aserbfx
honeywell (hon) is waiting for a breakout around the 62 usd mark...
The best chart i want to see (whew) !
  • #119,514
  • Oct 7, 2012 9:59am Oct 7, 2012 9:59am
bax on weekly.
what i like here is that once the breakout is triggered, you can put a stop just below the 60 usd. so in case this trade goes against you, the loss will be small (well depending on the quantity of shares, of course).
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meine augen sind die sterne
  • #119,515
  • Oct 7, 2012 10:16am Oct 7, 2012 10:16am
cbs on weekly. good looking pinbar at a swing low in a major uptrend. high volume in the pinbar indicates strength in background.
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meine augen sind die sterne
  • #119,516
  • Oct 7, 2012 10:27am Oct 7, 2012 10:27am
Quoting mbqb11
Hey Equi

I realize now that video was the intro video I sent you guys.

The way i get through them faster is opening two charts. I put one on each monitor.

Then you keep the Symbol area highlighted. And if you simply click your Down arrow TWICE then enter it will go to the next chart. Then what I do is click over to the other chart and click in the top window area of it. This will select the chart while still leaving the symbol area available to use the same Down arrow twice enter. As one is loading the other will be loading and...

Sorry for the late reply mike. I tried but couldn't figure it out! Do they have to be in a grid for this to work? Right now they are on separate monitors and are linked so if I highlight the one symbol and flick down it automatically changes the other. I don't see any other way to do it. Thanks for any help.
  • #119,517
  • Oct 7, 2012 11:15am Oct 7, 2012 11:15am
Quoting equivestor12
Sorry for the late reply mike. I tried but couldn't figure it out! Do they have to be in a grid for this to work? Right now they are on separate monitors and are linked so if I highlight the one symbol and flick down it automatically changes the other. I don't see any other way to do it. Thanks for any help.
Hey Equi

See if this helps


Best
Mike
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  • #119,518
  • Oct 7, 2012 11:52am Oct 7, 2012 11:52am
Hello guys and girls!
This is my first post here and I just want to tell you I`m glad to be here and I`m waiting to be accepted on pf. I've been lurking for a while but I think it`s time to post some charts.

meska, I just want to ask you about GBPCHF weekly chart because we have HCR+some highs at this level?
On the other hand on NZDUSD we have BUOB on Monthly and Weekly HCR+high and low.How do we manage this?http://imageshack.us/a/img707/7880/nzdusd.jpg

http://imageshack.us/a/img803/2831/gbpchfw.jpg
  • #119,519
  • Oct 7, 2012 12:08pm Oct 7, 2012 12:08pm
Mike Iīm trying to learn new entry signals. I would like to ask you if on my chart is DBHLC ? How much exact the high or low of the second bar should be? And do you think that it was a great trade on my chart? It was 50% retrace, ppz and BRN. I noticed that you donīt devote to it here too much. Can I ask if you show in private group more advanced techniques(like touch entries) or you show only the basics like here?

Thanks for help
Martin
  • #119,520
  • Oct 7, 2012 12:09pm Oct 7, 2012 12:09pm
Quoting Martin600
Mike Iīm trying to learn new entry signals. I would like to ask you if on my chart is DBHLC ? How much exact the high or low of the second bar should be? And do you think that it was a great trade on my chart? It was 50% retrace, ppz and BRN. I noticed that you donīt devote to it here too much. Can I ask if you show in private group more advanced techniques(like touch entries) or you show only the basics like here?

Thanks for help
Martin
Sorry I forget chart
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