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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

  • #121,221
  • Nov 28, 2012 1:22pm Nov 28, 2012 1:22pm
Quoting bullzeye
EUR/TRY

took this one yesterday after bearish H4 PA...double top on daily and BEOB as well...

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EUR/TRY

it would be nice to break this TL down...

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  • #121,222
  • Nov 28, 2012 1:28pm Nov 28, 2012 1:28pm
Quoting bullzeye
SGD/JPY

strange pair, but it looks most clearer to me for a fall...

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SGD/JPY

stop to BE, the behavior is bearish ....target is the 50 Fib retracement

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  • #121,223
  • Nov 28, 2012 1:36pm Nov 28, 2012 1:36pm
Quoting TheLastCoke
EUR/USD Are you in? there was a massive confluence at that level

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Hey LC,

excellent charts ! the level is indeed a great one, a ton of confluence
  • #121,224
  • Nov 28, 2012 1:59pm Nov 28, 2012 1:59pm
Mike
Hello

What is your opinion

Pb
A .ppz
Brn

I'd love to get your feedback
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  • #121,225
  • Nov 28, 2012 2:34pm Nov 28, 2012 2:34pm
good day everyone,need some advise on these pairs,aud/jpy and eur/usd both bullish pinbars, thanks
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  • #121,226
  • Nov 28, 2012 2:37pm Nov 28, 2012 2:37pm
Quoting Yehuda Sh
Mike
Hello

What is your opinion

Pb
A .ppz
Brn

I'd love to get your feedback
Hey Yehuda

If you check my last post you can see me talk about how we want these buobs/pinbars at nice swing points. This would be up near a swing high and now how James has us taking them. I'd really like to see you guys taking these at swing points when learning and save the continuation bars for later on. Now price is showing a breakout of a descending TL but one needs to decide if this is strong enough to buy because of that. For me that is not enough information alone. The problem new traders have with these bars are you are trading right back into the last selling point or the swing high. This is where the concept of space vs traffic comes into play. We also are not trading off a BRN but rather back into one at 13000

Hope that helps
Mike
  • #121,227
  • Nov 28, 2012 2:55pm Nov 28, 2012 2:55pm
Hey guys,

What do you think about this one?
USDNOK Daily ,buob at support.DLCS
Thank you
http://img585.imageshack.us/img585/267/usdnokd3.gif
  • #121,228
  • Nov 28, 2012 3:32pm Nov 28, 2012 3:32pm
Quoting iuliu00
Hey guys,

What do you think about this one?
USDNOK Daily ,buob at support.DLCS
Thank you
http://img585.imageshack.us/img585/267/usdnokd3.gif
Hey Iuliu

I am glad you noted the heavy consolidation we are in. I actually prefer retrace entries in this situation because buying a break of the bar is often back into major traffic. This to me makes more sense of an entry and if price retests the BUOB you can get to b/e

Best
Mike
  • #121,229
  • Nov 28, 2012 3:35pm Nov 28, 2012 3:35pm
Hey guys,

What do you think about this one?
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 71 KB
  • #121,230
  • Nov 28, 2012 3:47pm Nov 28, 2012 3:47pm
Mike

Hello

What is your opinion


We look forward to feedback


Sorry for my bad English
Attached Image (click to enlarge)
Click to Enlarge Name: chf jpy 28112012 pb.gif Size: 29 KB
  • #121,231
  • Nov 28, 2012 4:40pm Nov 28, 2012 4:40pm
Quoting Yehuda Sh
Mike

Hello

What is your opinion


We look forward to feedback


Sorry for my bad English
Hey Yehuda

Be careful again. Notice this pinbar is up at a very high swing high point. We want to look for bullish pinbars at swing low points. We would be buying into the last major selling and that can get us into some trouble. Also we can't attach a whole lot of confluence. It may seem tempting cause the trend is strong but these get people into trouble

Best
Mike
  • #121,232
  • Nov 29, 2012 2:29am Nov 29, 2012 2:29am
Hi Mike, everybody

I'm wondering now - what about mini dow now?

Prize crossed descending trend line... does it mean it's time to close it as a loss or we can still expect that it will go down?

Thanks

regards,
Marcin
  • #121,233
  • Nov 29, 2012 2:46am Nov 29, 2012 2:46am
Quoting mbqb11
these markets are relatively quick and consolidated on lots of pairs

be careful these markets tend to eat people up. I got a lot of messages about bars like this one(see chart)

Remember don't be fooled by your bar alone recognize the location of these bars. ESPECIALLY when starting out finding them at the proper locations will keep you out of a lot of painful trades. Don't be so excited to be trading if nothing great is showing itself.

Hi Mike,

yep indeed, there has been quite a lot of OB on many pairs yesterday, some of which with price kept in tight range, but others at a location my newbie, naive eye would have qualified as "not too bad"... EURUSD and USDCHF are some examples of OB at swing points with at least some room on their left.
Both were triggered, both are now in the red.
Not that I am angry about that, but I'd like to have your and other's opinion about the reason these setup would have fail....
Learning from my mistakes, sort of.

Thanks for your help
Slow & steady
  • #121,234
  • Nov 29, 2012 3:37am Nov 29, 2012 3:37am
What do you guys think about this one?
http://www.cheesyplace.com/UserFiles...on-325x400.jpg

Looks rather delicious.
Stilton with a nice bottle of Bordeaux. Oh Yeah
  • #121,235
  • Nov 29, 2012 3:42am Nov 29, 2012 3:42am
Quoting Pinbar
What do you guys think about this one?
http://www.cheesyplace.com/UserFiles...on-325x400.jpg

Looks rather delicious.
Stilton with a nice bottle of Bordeaux. Oh Yeah
I can only hope it's not Gouda xD
  • #121,236
  • Nov 29, 2012 3:42am Nov 29, 2012 3:42am
using support and resistense zones is beter or using pivot zones is beter? can anybudy tell with a strong reason or logic behind that.
thanks in advance.
  • #121,237
  • Nov 29, 2012 3:47am Nov 29, 2012 3:47am
Quoting surajkincity
using support and resistense zones is beter or using pivot zones is beter? can anybudy tell with a strong reason or logic behind that.
thanks in advance.
I prefer s/r over pivots (of course by pivots you mean lines created using a formula, right?). But I don't really use pivots, so hard for me to tell if it's working... I don't trust indicators to calculate for me, where price should change direction...

Here is some discussion: http://forums.babypips.com/newbie-is...esistance.html
  • #121,238
  • Nov 29, 2012 3:53am Nov 29, 2012 3:53am
Quoting rafstraszek
I prefer s/r over pivots (of course by pivots you mean lines created using a formula, right?). But I don't really use pivots, so hard for me to tell if it's working... I don't trust indicators to calculate for me, where price should change direction...

Here is some discussion: http://forums.babypips.com/newbie-is...esistance.html
thanks! even i feel that s/r would be beter but when i hear a lot of people discusing pivot zones i get confuse..
btw, 100EMA or 150EMA would be beter on daily charts.
  • #121,239
  • Nov 29, 2012 4:39am Nov 29, 2012 4:39am
Quoting Pinbar
What do you guys think about this one?
http://www.cheesyplace.com/UserFiles...on-325x400.jpg

Looks rather delicious.
Stilton with a nice bottle of Bordeaux. Oh Yeah
mmmhh, the King of cheese...looks like a nice setup, i would take this one
  • #121,240
  • Nov 29, 2012 4:43am Nov 29, 2012 4:43am
.
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A chart helps those who can read it.
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