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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

  • #119,821
  • Oct 18, 2012 5:41pm Oct 18, 2012 5:41pm
Quoting millions
Anybody on gold at present. I entered on close of yesterday's candle- confluence, confluence, confluence. BRN, Pivot, TL, price just coming from a double top and serious divergence, and finally, while yesterday's bar was not a normal price action bar, it was confirmation for me that 1750 would hold. I think there's space here for a runner down to 1700 at which time I will take full profit. My stop, initially 80 pips is now just behind the tl and BRN (15 pips)- was going to get to b/e asap but want to let the trade breathe for another day.
Mike-...
Hey M

That looks like a Jarroo type play with price closing under that LCS area. Not my style but for me overall price is in a consolidation period here

Makes sense here was a chart I posted the other day in the PF

Best
Mike
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  • #119,822
  • Oct 18, 2012 10:15pm Oct 18, 2012 10:15pm
how about this daily pin bar ?
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A chart helps those who can read it.
  • #119,823
  • Oct 19, 2012 2:51am Oct 19, 2012 2:51am
EUR/AUD

great area to watch ahead, break down or will hold the support???

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  • #119,824
  • Oct 19, 2012 3:11am Oct 19, 2012 3:11am
Quoting geniusztc
how about this daily pin bar ?
I have watch this as well..the size of the pin is to small for me for a reversal. But i like the story behind The sellers are not in charged yet and the buyers could push it a way higher. I would see a strong close under the BRN 130.00, that would be a signal for me...

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  • #119,825
  • Oct 19, 2012 5:25am Oct 19, 2012 5:25am
Quoting geniusztc
how about this daily pin bar ?
Quoting bullzeye
I have watch this as well..the size of the pin is to small for me for a reversal. But i like the story behind The sellers are not in charged yet and the buyers could push it a way higher. I would see a strong close under the BRN 130.00, that would be a signal for me...
Yep, agree with bullzeye. The upper trendline in Geniusztc chart is not so important, and the Pin is just above the S&R flip, so should first break that and 103 to go short. Now it is more risky to short.
  • #119,826
  • Oct 19, 2012 5:48am Oct 19, 2012 5:48am
Quoting geniusztc
how about this daily pin bar ?
Seems it has some reasoning behind. Some cleaner divergence would be a lot better, but still enough to give it a go. I'm testing this as well

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  • #119,827
  • Oct 19, 2012 5:51am Oct 19, 2012 5:51am
Quoting rami_8
Yep, agree with bullzeye. The upper trendline in Geniusztc chart is not so important, and the Pin is just above the S&R flip, so should first break that and 103 to go short. Now it is more risky to short.
Hey rami_8. The whole idea of the upper trendline is not to be played off, but for divergence reference. The current bar failed to close above the previous high, so it's a sign of weakness. That's at least how i read the current story.
  • #119,828
  • Oct 19, 2012 6:05am Oct 19, 2012 6:05am
break down

Quoting bullzeye
EUR/AUD

great area to watch ahead, break down or will hold the support???

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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #119,829
  • Oct 19, 2012 6:40am Oct 19, 2012 6:40am
Quoting Bones
break down
there he comes !!!! welcome back bro
  • #119,830
  • Oct 19, 2012 6:47am Oct 19, 2012 6:47am
Quoting Rust
Seems it has some reasoning behind. Some cleaner divergence would be a lot better, but still enough to give it a go. I'm testing this as well

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well this one engaged me just a lil bit, but i choose another beauty

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  • #119,831
  • Oct 19, 2012 6:56am Oct 19, 2012 6:56am
Quoting bullzeye
well this one engage me just a lil bit, but i choose another beauty

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I see you have some space there, which is good. But i don't trade pure PA bars with no other confluence (at least i don't see many). But that's just me. And i am picky maybe above normal

btw i don't want to intermeddle to your analysis, but i think your target is far too optimistic. If you make me take this trade i'll be very worried when this space start to run out.
just my 2c

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  • #119,832
  • Oct 19, 2012 6:57am Oct 19, 2012 6:57am
I agree Bullzeye


Quoting bullzeye
well this one engage me just a lil bit, but i choose another beauty

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  • #119,833
  • Oct 19, 2012 7:55am Oct 19, 2012 7:55am
Quoting Rust
Hey rami_8. The whole idea of the upper trendline is not to be played off, but for divergence reference. The current bar failed to close above the previous high, so it's a sign of weakness. That's at least how i read the current story.
Yes, my point was just to mention that in my eyes it is a bit risky. It sure can go down, but not the one that I would like to trade.
Good point is as you mentioned, but also the one that you are selling relatively high. Sell high, buy low.
I would have wanted price to spike higher, but now it's a bit iffy... and it's friday.
I am also selling EURUSD and in some profit, so I don't mind EUR going further down. But mine is just a quick scalp i.e less than 100 pips.

Good luck with your trading. You have done some good work.
  • #119,834
  • Oct 19, 2012 8:00am Oct 19, 2012 8:00am
Hello Bullzeye,

Weekly is up trend, so I think we should wait to see what will happen on support area!
Quoting bullzeye
well this one engaged me just a lil bit, but i choose another beauty

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  • #119,835
  • Oct 19, 2012 8:19am Oct 19, 2012 8:19am
Well im not sure it is up
I would say recently consolidation ,then the D1 pin is around top of that ?


Quoting adriaticFX
Hello Bullzeye,

Weekly is up trend, so I think we should wait to see what will happen on support area!
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  • #119,836
  • Oct 19, 2012 8:39am Oct 19, 2012 8:39am
Hello Bones,

yes, I agree weekly renge, but on 4h chart is just forming pinbar and the only thing I want to say is careful!
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  • #119,837
  • Oct 19, 2012 8:41am Oct 19, 2012 8:41am
h4 v d1 I hope very much it fails ,its pull back in my eyes good short op
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  • #119,838
  • Oct 19, 2012 8:51am Oct 19, 2012 8:51am
lfx jpy is a JPY index ,down is stronger JPY
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  • #119,839
  • Oct 19, 2012 10:43am Oct 19, 2012 10:43am
Quoting Rust
I see you have some space there, which is good. But i don't trade pure PA bars with no other confluence (at least i don't see many). But that's just me. And i am picky maybe above normal

btw i don't want to intermeddle to your analysis, but i think your target is far too optimistic. If you make me take this trade i'll be very worried when this space start to run out.
just my 2c

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Hi all,

first post...yeah I took that pinbar break on GBPJPY too...
looks like there could be the 365ema in the way around 126 area...not sure whether to take partial or full profit around there if price gets down that far?
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  • #119,840
  • Oct 19, 2012 10:49am Oct 19, 2012 10:49am
Im thinking lower today
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