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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

  • #121,521
  • Dec 6, 2012 2:27pm Dec 6, 2012 2:27pm
Quoting Pinbar
GU is looking interesting
GU sure did pop.
Actually so did the EU that, I did not like the H1 BEOB that failed to trigger.
The thought process value of these two, are extremely precious to me.

And all that is due to Jarroo
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  • #121,522
  • Dec 6, 2012 2:42pm Dec 6, 2012 2:42pm
Quoting jarroo
That's not bad Steve . .looking at Monthly or even Weekly levels on the 4 Hour TF or even the hourly . .

What I have found is that when different TF HCR/LCS levels line up can be very strong. . .like this Daily /Weekly HCR on the Euro . .

Price returrns and prints a Daily Close Confirmation of Resistance . meaning Price could not Close above the Daily /Weekly HCR level
. Confirmation that the level is still Resistance and . .. Bam!! . .

Look for these HCR/LCS levels when they line up on higher TFs . . they can be very powerful .. ....
No surprise here . .the Weekly / Daily HCR levels didn't change (Nov chart) . . Bam Baby . .


Anyone notice the reaction to these Weekly HCR levels in these before and after chart??

If you're seeing the formation of Daily Highs and Lows . .then you're see it right . .
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Indicators show the past. Price Action "Indicates" the future.
  • #121,523
  • Dec 6, 2012 2:56pm Dec 6, 2012 2:56pm
Quoting jarroo
You traded that perfect Steve. . . . .you could have done the same with the other Weekly HCR level that was just above that one . .charts.

The Daily did close below our Weekly levels . .just barely . .well the Daily closed right on our Weekly level .8130 . .a stronger close below would have been nice.

Well done Steve. . .you just didn't see that upper Weekly HCR level . .(damn you gaps!!! . .)

Jim

Agh, Yes Jim. You are right.
That Damn gap, caused me to fail to see it as a significant SP.

I nailed it the second time around.
It did actually hit its weekly target that I was concerned about it being too far away.
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  • #121,524
  • Dec 6, 2012 3:00pm Dec 6, 2012 3:00pm
Quoting Pinbar
GU sure did pop.
Actually so did the EU that, I did not like the H1 BEOB that failed to trigger.
The thought process value of these two, are extremely precious to me.

And all that is due to Jarroo


Quoting jarroo
Could be the High of the Day . .
Did I say High of the Day? . .scratch that . .Coud be the High of the Week . .or the High of the Month . .

I do like those Weekly / Daily HCR levels (1.6271-1.6262) . .they sure made some Daily Highs of the Day when Price was there . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,525
  • Dec 6, 2012 3:07pm Dec 6, 2012 3:07pm
Quoting jarroo
No surprise here . .the Weekly / Daily HCR levels didn't change (Nov chart) . . Bam Baby . .


Anyone notice the reaction to these Weekly HCR levels in these before and after chart??

If you're seeing the formation of Daily Highs and Lows . .then you're see it right . .

Only the Damn Gaps changed. With the Open becoming the LCS. LOL
  • #121,526
  • Dec 6, 2012 3:18pm Dec 6, 2012 3:18pm
Quoting Pinbar
Agh, Yes Jim. You are right.
That Damn gap, caused me to fail to see it as a significant SP.

I nailed it the second time around.
It did actually hit its weekly target that I was concerned about it being too far away.
Yeah sometimes the gaps make them hard to see . .but what made it significant was that the Weekly HCR level (.08146-47) was in SPACE . .that beautiful Space that Mike talks about all the time .. . .meaning there was no traffic or other levels to interfere with its strength.

You played the .8133-.8130 just right . . ..it could have easily Bammed down from there too . .next time it will in a similar situation .. . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,527
  • Dec 6, 2012 3:24pm Dec 6, 2012 3:24pm
Do you know guys, what triggered the EUR fall today? One minute i sadly noticed that i have some pips in loss, and then in the other i see i have gain. But what happened actually in those minutes when price decided to fall rapidly?

/As a Lamer I can see that the price tested the 1.31 level on the EUR usd, but didnt succeed to break through it. (Just like before) - So i shorted there, but thats all./ Any comment?

Thanks
It's all psychology...
  • #121,528
  • Dec 6, 2012 3:25pm Dec 6, 2012 3:25pm
Quoting jarroo
Yeah sometimes the gaps make them hard to see . .but what made it significant was that the Weekly HCR level (.08146-47) was in SPACE . .that beautiful Space that Mike talks about all the time .. . .meaning there was no traffic or other levels to interfere with its strength.

You played the .8133-.8130 just right . . ..it could have easily Bammed down from there too . .next time it will in a similar situation .. . .

Yes, I see it now. Thanks Jim.
There is a similar situation on GBP/JPY
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  • #121,529
  • Dec 6, 2012 3:29pm Dec 6, 2012 3:29pm
Quoting LamerTrader
Do you know guys, what triggered the EUR fall today? One minute i sadly noticed that i have some pips in loss, and then in the other i see i have gain. But what happened actually in those minutes when price decided to fall rapidly?

/As a Lamer I can see that the price tested the 1.31 level on the EUR usd, but didnt succeed to break through it. (Just like before) - So i shorted there, but thats all./ Any comment?

Thanks

Price reacted to a strong Resistance level . .a strong Highest Close of Resistance level(s) to be exact, if you know me . . . .that's how I saw it . .

Was there any News today??
Indicators show the past. Price Action "Indicates" the future.
  • #121,530
  • Dec 6, 2012 3:36pm Dec 6, 2012 3:36pm
Quoting Pinbar
Yes, I see it now. Thanks Jim.
There is a similar situation on GBP/JPY
Stay with the most recent . .
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Indicators show the past. Price Action "Indicates" the future.
  • #121,531
  • Dec 6, 2012 3:38pm Dec 6, 2012 3:38pm
Quoting Pinbar
GBP/JPY also
Here's your chart from this post . .nice . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,532
  • Dec 6, 2012 3:40pm Dec 6, 2012 3:40pm
Quoting jarroo
Here's your chart from this post . .nice . .

Yes, I am.
Just meant that if price got above the Mhcr, it would be an area to keep an eye out for.

Got to love that Gap on the monthly as it matches the daily to the pip.
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  • #121,533
  • Dec 6, 2012 3:51pm Dec 6, 2012 3:51pm
Quoting LamerTrader
Do you know guys, what triggered the EUR fall today? One minute i sadly noticed that i have some pips in loss, and then in the other i see i have gain. But what happened actually in those minutes when price decided to fall rapidly?

/As a Lamer I can see that the price tested the 1.31 level on the EUR usd, but didnt succeed to break through it. (Just like before) - So i shorted there, but thats all./ Any comment?

Thanks
Hey Lamer

Guess what? It doesn't matter why. Yep you heard it here first. What matter is our game plan at important areas. How we get in. How we manage our trades. How we manage our risk. Rinse and repeat.

Nice setup here that has all the pieces for a successful trade. Then you just let the market do its thing.. Everyone and their mother will give you the reason why that move occurred after it did. But that really doesn't matter to a trader. They have their game plan(whatever it is) and that's what matters.

http://www.forexfactory.com/showthre...63#post6266363

Best
Mike
  • #121,534
  • Dec 6, 2012 3:53pm Dec 6, 2012 3:53pm
Quoting Pinbar
Yes, I am.
Just meant that if price got above the Mhcr, it would be an area to keep an eye out for.

Got to love that Gap on the monthly as it matches the daily to the pip.

Oh I see, Yes . .. .also 135.00 BRN (135.10ish) looks good on the Weekly if we get up there . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,535
  • Dec 6, 2012 3:59pm Dec 6, 2012 3:59pm
Quoting mbqb11
here was a nice J16 style trade

Beob swing high.
breaking massive steep TL
Price running into a very strong area of resistance
FTA hit no problem not necessarily a sell and hold
Risk is minimal because of what?
Very nice Mike . .Classic bearish PA confirmation of a Resistance level . .be they at HCR level or a PPZ level . .
Indicators show the past. Price Action "Indicates" the future.
  • #121,536
  • Dec 6, 2012 4:01pm Dec 6, 2012 4:01pm
EUR/TRY

big and sexy BEOB, but i am out for this week...

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  • #121,537
  • Dec 6, 2012 4:04pm Dec 6, 2012 4:04pm
Quoting jarroo
Stay with the most recent . .
GBP/JPY There is also a Channel UTL

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  • #121,538
  • Dec 6, 2012 4:06pm Dec 6, 2012 4:06pm
Quoting mbqb11
Hey Lamer

Guess what? It doesn't matter why. Yep you heard it here first. What matter is our game plan at important areas. How we get in. How we manage our trades. How we manage our risk. Rinse and repeat.

Nice setup here that has all the pieces for a successful trade. Then you just let the market do its thing.. Everyone and their mother will give you the reason why that move occurred after it did. But that really doesn't matter to a trader. They have their game plan(whatever it is) and that's what matters.

http://www.forexfactory.com/showthre...63#post6266363

Best
Mike...
Agree, Mike! Who cares about the reason. We are not in a fundamentals thread. We looking for PA and PA show us the right way (most of the time)!
  • #121,539
  • Dec 6, 2012 4:09pm Dec 6, 2012 4:09pm
Quoting jarroo
Oh I see, Yes . .. .also 135.00 BRN (135.10ish) looks good on the Weekly if we get up there . .

I hear you Jim.
Perhaps you were worried, my mind was wandering again.
So was I for a second. LOL

However, I am Seeing it as I am 10,000,000% sure you are.
Multi TF confluence.
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  • #121,540
  • Dec 6, 2012 4:16pm Dec 6, 2012 4:16pm
Quoting TheLastCoke
GBP/JPY There is also a Channel UTL

Attachment

Hey TLC . .nice channel . . .Price should react a bit down from the channel with that Resistance level . .but it sure doesn't seem afraid of going higher .

We did have a nice upward trending Price Pattern breakout . so getting some Daily Closes above these levels (and channel) and going higher is not out of the question . .
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Indicators show the past. Price Action "Indicates" the future.
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