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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

  • #120,701
  • Nov 12, 2012 2:37am Nov 12, 2012 2:37am
Quoting mbqb11
Hey Rona

yes not really enough information here for me. Would just continue to observe this one. Perhaps the best is the hourly consolidation building

Best
Mike
Hi Rona, Mike!

Thank you, for your answers. Mike, how do you mean the hourly consolidation building? You mean, we should watching the hourly chart, and waiting for a price action candle to enter? That isn't unadvised for newbies like me?

Regards,
Karl
  • #120,702
  • Nov 12, 2012 2:57am Nov 12, 2012 2:57am
Hi guys,

Little something I'm looking at:
CADJPY, BEOB off of TL engulfing the whole range of consolidation.
There is a bullish PB on D1. I would expect 80BRN to hold as resistance (~50% ret of BEOB) before a break down.

Any comment?

Chanya, nice to see you passing by!
where are your charts?
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Slow & steady
  • #120,703
  • Nov 12, 2012 3:17am Nov 12, 2012 3:17am
Quoting patapouer
Hi guys,
Little something I'm looking at:
CADJPY, BEOB off of TL engulfing the whole range of consolidation.
There is a bullish PB on D1. I would expect 80BRN to hold as resistance (~50% ret of BEOB) before a break down.
Hi Patapouer,

There is also a daily PB on USDJPY which closed just under resistance. These JPY pinbars look like friday's take profit + pull-back to resistance before falling down.
Sorry, I am not able now to answer with graphs.

A+
  • #120,704
  • Nov 12, 2012 3:19am Nov 12, 2012 3:19am
beob w1 ,I guess we could expect retrace ,personally I think its gonna break down ,maybe wait


Quoting patapouer
Hi guys,

Little something I'm looking at:
CADJPY, BEOB off of TL engulfing the whole range of consolidation.
There is a bullish PB on D1. I would expect 80BRN to hold as resistance (~50% ret of BEOB) before a break down.

Any comment?

Chanya, nice to see you passing by!
where are your charts?
Attached Image (click to enlarge)
Click to Enlarge Name: cad jpy d1 12-11-12.png Size: 30 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,705
  • Nov 12, 2012 3:23am Nov 12, 2012 3:23am
Quoting patapouer
Hi guys,

Little something I'm looking at:
CADJPY, BEOB off of TL engulfing the whole range of consolidation.
There is a bullish PB on D1. I would expect 80BRN to hold as resistance (~50% ret of BEOB) before a break down.

Any comment?

Chanya, nice to see you passing by!
where are your charts?
Something like this i hope to see:
Attached Image (click to enlarge)
Click to Enlarge Name: 123.png Size: 60 KB


Probably one more small bounce inside this consolidation will make it even more tasteful
  • #120,706
  • Nov 12, 2012 3:24am Nov 12, 2012 3:24am
yea I think so

Quoting ForexFrog
Im also on it, it looks nice. Any other opinion ?
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,707
  • Edited 5:50am Nov 12, 2012 3:29am | Edited 5:50am
Quoting Rust
4th touch or larger i'll be much more watching for a breakout than a significant bounce.

just my 2c of course
Hey Rust!

Thank you! I don't want to argue with you, I know you have lot more experience than me, I just don't understand this thing.
You wrote, on the 4th touch, the chance is bigger for a breakout than for a bounce. And i found this opinion in every forum. I think, we need 3 touch at least to call something as a "trendline", because between two point you can draw lines everywhere. So, you can realize a line as a trendline, on the 3rd touch, and you can trade it firstly on the 4th touch.
And on the 4th touch, if i understood right, you don't like to "bouncetrade". So, in your trading style, you don't really use the traditonal James16 stuff, you like more when the price breaks out, right?
I hope you understood me, as you know, my mother tongue is not the english. And don't get me wrong with this post, you are one of the best teacher from here, and i really appreciate your attention!
  • #120,708
  • Nov 12, 2012 4:21am Nov 12, 2012 4:21am
Quoting ForexFrog
Hi Patapouer,

There is also a daily PB on USDJPY which closed just under resistance. These JPY pinbars look like friday's take profit + pull-back to resistance before falling down.
Sorry, I am not able now to answer with graphs.

A+
Quoting Bones
beob w1 ,I guess we could expect retrace ,personally I think its gonna break down ,maybe wait

Quoting Rust
Something like this i hope to see:
Attachment

Probably one more small bounce inside this consolidation will make it even more tasteful
thanks guys,

Ok so basically we all agree here

take care!
Slow & steady
  • #120,709
  • Nov 12, 2012 4:23am Nov 12, 2012 4:23am
Quoting KarlfromHU
Hey Rust!

Thank you Rust! I don't want to argue with you, I know you have lot more experience than me, I just don't understand this thing.
You wrote, on the 4th touch, the chance is bigger for a breakout than for a bounce. And i found this opinion in every forum. I think, we need 3 touch at least to call something as a "trendline", because between two point you can draw lines everywhere. So, you can realize a line as a trendline, on the 3rd touch, and you can trade it firstly on the 4th touch.
And on the 4th touch, if i understood right,...
Hey Karl,
I understand you very well. This is a question i bet many people have asked themselves (including me). Let me ask you a question, i hope will light a bulb

1 - "I think, we need 3 touch at least to call something as a "trendline", because between two point you can draw lines everywhere."-> good way of thinking, i agree.
2 - "So, you can realize a line as a trendline, on the 3rd touch, and you can trade it firstly on the 4th touch." -> Who tells a trendline must be traded only in the direction of the previous bounces ?

It's important to understand that we do not trade here a single trendline. I mean that if you have already a good reason to be bullish or bearish, if in the same location is the third touch of a tredline, you combine your reasons as confluence and you raise your guess probability to work out. This doesn't mean that you are trading a third touch of an unconfirmed trendline, but a whole story that you just created. The thing is to blend your tools and create a big picture what's going on. With experience you will find which tools are more important and you will create your own toolbox to work with. But just trading the forth touch of a trendline i found not to be reliable.

Quick example here how you can use trendlines for entry in your favor BEFORE the 4rd touch.

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  • #120,710
  • Nov 12, 2012 4:44am Nov 12, 2012 4:44am
nice space on GBPAUD.
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all is eternal - this is good news for people who loves bad news
  • #120,711
  • Nov 12, 2012 4:45am Nov 12, 2012 4:45am
Quoting Rust
Attachment
thats an awesome example of a S/R flip! ...i am sure the wizard would be proud of you
  • #120,712
  • Nov 12, 2012 4:50am Nov 12, 2012 4:50am
[quote=patapouer;6185480]
Quote
Hi guys,

Little something I'm looking at:
CADJPY, BEOB off of TL engulfing the whole range of consolidation.
There is a bullish PB on D1. I would expect 80BRN to hold as resistance (~50% ret of BEOB) before a break down.

Any comment?
I am watching this pair also...but..I would have liked to see the BEOB's close bellow the consolidation !
On my chart I have athe 78.80 level so for a short I will wait to see this level acting as resistence.
Nothing personal,just business
  • #120,713
  • Nov 12, 2012 5:02am Nov 12, 2012 5:02am
Quoting bullzeye
thats an awesome example of a S/R flip! ...i am sure the wizard would be proud of you
Wiz/J16 combo touch trade maybe that should be
  • #120,714
  • Nov 12, 2012 5:07am Nov 12, 2012 5:07am
Bones, i have a feeling that the big guys wanna push the Gold higher...but i keep my SL very tight

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  • #120,715
  • Nov 12, 2012 5:21am Nov 12, 2012 5:21am
Maybe Bull ,that is a pin of sorts I know its small ,carefull with Aud its up against hard res and my view is it wont take ,

Aud ,Gold very connected

Quoting bullzeye
Bones, i have a feeling that the big guys wanna push the Gold higher...but i keep my SL very tight

Attachment
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,716
  • Nov 12, 2012 5:24am Nov 12, 2012 5:24am
Quoting Rust
Hey Karl,
I understand you very well. This is a question i bet many people have asked themselves (including me). Let me ask you a question, i hope will light a bulb
Great analysis Rust - great to read your posts with in-depth analysis. Please keep 'em coming.

Ganesh
  • #120,717
  • Nov 12, 2012 5:32am Nov 12, 2012 5:32am
I did think that could be inverted H&S with some building to do

Quoting bullzeye
Bones, i have a feeling that the big guys wanna push the Gold higher...but i keep my SL very tight

Attachment
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,718
  • Nov 12, 2012 5:36am Nov 12, 2012 5:36am
Quoting Chanya
Hey Raf, Long time ... How is everything ? How is trading going ? Still rocking ?
Hey! Well...not really I had some break from forex myself - new academic year, friends I have not seeing for quite time etc. not much time really...
I had good profits on demo, then I moved to live...and be and be ...after break I went back to demo again and I'm gonna stay here for few weeks/months...

Anyway here is my chart - from first august till now, generally I'm happy with it (definitely can see some support ) Maybe this few live weeks was just bad luck (or standard deviation if someone doesn't believe in luck xD ) (this is my demo chart, but also with live trades - I was taking them both on demo and live accounts)

But really man - it's good to see you back here.
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  • #120,719
  • Nov 12, 2012 5:56am Nov 12, 2012 5:56am
Aud usd has supprised me a bit


Quoting Bones
Maybe Bull ,that is a pin of sorts I know its small ,carefull with Aud its up against hard res and my view is it wont take ,

Aud ,Gold very connected
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd h6 12-11-12.png Size: 28 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,720
  • Nov 12, 2012 6:03am Nov 12, 2012 6:03am
actual trades aud usd
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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