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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

  • #120,721
  • Nov 12, 2012 6:20am Nov 12, 2012 6:20am
GBP/CAD

very strong PPZ (look left) and bearish PA on H4

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  • #120,722
  • Nov 12, 2012 6:25am Nov 12, 2012 6:25am
Quoting Bones
actual trades aud usd
would like to see a bearish pin on H4

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  • #120,723
  • Nov 12, 2012 6:56am Nov 12, 2012 6:56am
Quoting ksganesh100
Great analysis Rust - great to read your posts with in-depth analysis. Please keep 'em coming.

Ganesh
Glad to hear that Ganesh
From time to time my muse kicks in And last days the market presented some very nice examples.
  • #120,724
  • Nov 12, 2012 7:01am Nov 12, 2012 7:01am
GBP/CHF

failed to break the TL , back in channel now, Friday something like a BEOB...

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  • #120,725
  • Nov 12, 2012 7:02am Nov 12, 2012 7:02am
lol Bull your on it !



Quoting bullzeye
GBP/CHF

failed to break the TL , back in channel now, Friday something like a BEOB...

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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,726
  • Nov 12, 2012 7:51am Nov 12, 2012 7:51am
just a quick update about my trade posted here 1 week ago

entered on a monthly Pinbar,EURAUD,Broker FxPro

+200pips

I like the way it's moving

http://img42.imageshack.us/img42/842...pinbarnov2.gif
Account deleted
  • #120,727
  • Nov 12, 2012 7:58am Nov 12, 2012 7:58am
Quoting KarlfromHU
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
Hey Karl

Yes I would not advise new traders to go below the daily/weekly. I simply meant that in terms of anything on the chart for me the hourly would be the chart I would be watching in terms of a breakout. But you are right to stick to the higher timeframes

Best
Mike
  • #120,728
  • Nov 12, 2012 8:10am Nov 12, 2012 8:10am
Aud Usd ?

Quoting bullzeye
would like to see a bearish pin on H4

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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,729
  • Nov 12, 2012 8:24am Nov 12, 2012 8:24am
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?
looks good Pat

A trickier trade since this BEOB is in a sideways market, but this could be the tip off OUT of the consolidation. Selling a break of all those lows or the boxed area and looking for it to hold makes sense but be careful. These can get new traders into trouble because of the lack of space. That's why we stress an emphasis on clear swing points when learning it though.

Notice how price is stuck b/w a rock and a hard place so this makes managing these types of bars in this location more difficult.

Mike
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  • #120,730
  • Nov 12, 2012 8:44am Nov 12, 2012 8:44am
Quoting Rust
[/b]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. [b]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...
Hey Rust!

Thank you, that's made sense like every time. I think that's the key for the news like me, to find wich tools are more important than the others, and find how could we make the "picture".
By the way, i didn't want to trade it just for the 4th touch. There is a FIB (61.8), BRN (65), and a small sized Beob wich one closed below 65. But yes, that's definitely not as clear situation as your example. I left it, maybe in the next few days it gives more information where the price want to go.
I made a watching list for myself, I would be glad if you could comment on it (and of course everybody). And just one more question: Who is "Wizard"?
Thank you, I appreciate your attention!
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  • #120,731
  • Nov 12, 2012 8:44am Nov 12, 2012 8:44am
Quoting fxgroup
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.
yes that would be a stronger signal especially on a sideways breakout play

Best
Mike
  • #120,732
  • Nov 12, 2012 8:56am Nov 12, 2012 8:56am
[quote=fxgroup;6185878]
Quoting patapouer
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.
Quoting mbqb11
looks good Pat

A trickier trade since this BEOB is in a sideways market, but this could be the tip off OUT of the consolidation. Selling a break of all those lows or the boxed area and looking for it to hold makes sense but be careful. These can get new traders into trouble because of the lack of space. That's why we stress an emphasis on clear swing points when learning it though.

Notice how price is stuck b/w a rock and a hard place so this makes managing these types of bars in this location more difficult.

Mike
Thanks, both of you!

right, I am aware of the sideway market but I didn't pay attention to the close of the BEOB.
who said that "the holy grail is in the details"??
Slow & steady
  • #120,733
  • Nov 12, 2012 8:59am Nov 12, 2012 8:59am
This is indeed a very tricky set up ,but if I can add to it

If it closed positive I would think further up ,but retrace

btw im not in trade
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,734
  • Nov 12, 2012 9:04am Nov 12, 2012 9:04am
Great information, I am currently making my way through this thread.

Price action set-ups are working.
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  • #120,735
  • Edited 9:39am Nov 12, 2012 9:25am | Edited 9:39am
Quoting KarlfromHU
Hey Rust!

Thank you, that's made sense like every time. I think that's the key for the news like me, to find wich tools are more important than the others, and find how could we make the "picture".
By the way, i didn't want to trade it just for the 4th touch. There is a FIB (61.8), BRN (65), and a small sized Beob wich one closed below 65. But yes, that's definitely not as clear situation as your example. I left it, maybe in the next few days it gives more information where the price want to go.
I made a watching list for myself, I would...
Hi Karl,
don't leave your setups cause someone told he doesn't like it. I like your comments on your charts and i think you will develop a good eye. If someone has a different view, that doesn't mean your sucks. Sometimes 2 people take different directions on a single chart and both make money (or lose). But you should trust yourself in the first place.

AUDCHF -> i agree your level is pretty important. Case 1 -> you could wait for a clear breakout and buy it on retest. Case 2 -> you could wait for signs of weakness and sell it back down. As right now a don't have a position.
GBPAUD -> exactly like on my watchlist. I will sell it right on retrace around 1.5286.
GBPJPY -> looks kinda curve fitted. Not to say this ppz is not good, just i prefer better. The best PPZ's are just obvious, no need of fibs or trendlines for confluence to jump at you.
USDCAD-> interesting one... i'm thinking short until there is a break and close above the last high to the upside (daily). Something like this :

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PS the_wizard is one of the very good traders this thread has produced. Don't know why he doesn't post here anymore. The guy has a few threads of his own btw. You could check em out if you want
  • #120,736
  • Nov 12, 2012 9:36am Nov 12, 2012 9:36am
Quoting mbqb11
update on my JCP chart
here is my updated chart as we got a nice move last week
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  • #120,737
  • Nov 12, 2012 9:49am Nov 12, 2012 9:49am
Quoting mbqb11
here is my updated chart as we got a nice move last week
Pretty !
  • #120,738
  • Nov 12, 2012 10:40am Nov 12, 2012 10:40am
GBP/NZD

another good example for an S/R flip...beautiful PPZ, can you see it?

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  • #120,739
  • Nov 12, 2012 10:52am Nov 12, 2012 10:52am
Quoting Bones
I did think that could be inverted H&S with some building to do
i am out on BE, don't like it anymore
  • #120,740
  • Nov 12, 2012 11:29am Nov 12, 2012 11:29am
Not sure what your aud usd look like now Bull ? how do you read

Quoting bullzeye
i am out on BE, don't like it anymore
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