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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

  • #122,521
  • Jan 14, 2013 8:57pm Jan 14, 2013 8:57pm
Quoting jarroo
I like to see Price touch the levels . .taste them . .and then close below them on say the Hourly and/or 4 Hour TF. . .giving us confirmation that their still Resistance.

Yeah, it has that stairway like wind up to it.

May break through, may not but as you say, we need to wait for price to show us how strong the level itself is, therefore showing us how interested the buyers or sellers are. Price is like us before diving into a swimming pool, it needs to put its toe in and feel how cold or warm the pool is.
Then either dive in or head off to the bar.
  • #122,522
  • Jan 14, 2013 9:36pm Jan 14, 2013 9:36pm
Quoting jarroo
Its the same on my charts, hally . .We don't like ordinary PBs, . .we like Extraordinary PBs . . . . .Big in size, at Swing Highs and Lows, and nicely confluenced with other levels or information . .
hey jim

i'm definitely sticking with the extraordinary pinbars - don't like ordinary ones either. my line of thinking was that the pinbar might indicate a bit of a retrace down so that i could get in and go long. seems like price just headed up regardless of the pinbar which is probably another good indication of the poor quality pinbar. maybe this one could be used as an example of a 'less than ideal' pinbar
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  • #122,523
  • Jan 15, 2013 1:56am Jan 15, 2013 1:56am
Sorry for my English. Use the Google translator.
I would like to know the thoughts on GBP / CHF.
What I see: TL, PB (H1 and H4) Fib 61.8.
It is also possible the formation of PB on D1.
My first goal Fib 38.2
Thanks for all the comments and observations))
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It's only after we've lost everything that we're free to do anything.
  • #122,524
  • Jan 15, 2013 2:59am Jan 15, 2013 2:59am
This interests me as, it could be the start of a major reversal.
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  • #122,525
  • Jan 15, 2013 3:31am Jan 15, 2013 3:31am
hey guys

any comments on this one.

i see PBT&CB with a BEOB (ignoring the small sunday bar) with a small retrace back to the previous support level for today. i'm thinking it might be a good time to go short.

not sure about stop placement & profit targets/trouble areas

cheers

hally
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  • #122,526
  • Jan 15, 2013 3:45am Jan 15, 2013 3:45am
also got a pinbar forming on the daily that has bounced off the 365 and looks like it will close below HCR. looking for a downward move.

hally
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  • #122,527
  • Jan 15, 2013 4:25am Jan 15, 2013 4:25am
Quoting hally0301
hey guys

any comments on this one.

i see PBT&CB with a BEOB (ignoring the small sunday bar) with a small retrace back to the previous support level for today. i'm thinking it might be a good time to go short.

not sure about stop placement & profit targets/trouble areas

cheers

hally
You saw PBTACB what though?

I would not put too much faith in a pivot indicator.
  • #122,528
  • Jan 15, 2013 4:32am Jan 15, 2013 4:32am
Quoting Pinbar
You saw PBTACB what though?

I would not put too much faith in a pivot indicator.
hey pinbar

i'm looking at the close of the bar on the 9th Jan as the LCS. Is this not right? i'm still trying to get my head around jarroo's methods so i may be off the mark. any feedback appreciated

hally
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  • #122,529
  • Jan 15, 2013 5:29am Jan 15, 2013 5:29am
Quoting hally0301
hey pinbar

i'm looking at the close of the bar on the 9th Jan as the LCS. Is this not right? i'm still trying to get my head around jarroo's methods so i may be off the mark. any feedback appreciated

hally
I think you are not looking at the right Swing Low.
Here is the swing low I am looking at on the daily TF.
I take it you are talking about the daily TF.
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  • #122,530
  • Jan 15, 2013 5:45am Jan 15, 2013 5:45am
If you are talking about the weekly TF, I would watch this area carfully.
See the three consolidation box areas on the left.
They still appear to be active.
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  • #122,531
  • Jan 15, 2013 8:13am Jan 15, 2013 8:13am
I'm still in practice mode with touch trading, but i have some good shots here and there
Confluence, space and clean action. These are the ingredients i look for.
Just closed:
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  • #122,532
  • Jan 15, 2013 8:36am Jan 15, 2013 8:36am
Quoting Rust
I'm still in practice mode with touch trading, but i have some good shots here and there
Confluence, space and clean action. These are the ingredients i look for.
Just closed:
Attachment
glad to see you close that smartly Rust.

That's a perfect touch trade, where someone gets hurt is saying "this uptrend is strong let me hold". Price looks like it is turning over and we might see considerable yen strength now to close these gaps. I am watching the BRN 90 area as well now for shorts.

Doing great Rust
  • #122,533
  • Jan 15, 2013 10:23am Jan 15, 2013 10:23am
Sorry for my English. I use the Google translator.
USD / JPY formed a DBHLC on a swing high.
I do not want to trade this point, but wanted to know what you think on this point?
Expect a you sell at the close of the candle?
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It's only after we've lost everything that we're free to do anything.
  • #122,534
  • Jan 15, 2013 11:18am Jan 15, 2013 11:18am
'
Quoting Alexandr51
Sorry for my English. I use the Google translator.
USD / JPY formed a DBHLC on a swing high.
I do not want to trade this point, but wanted to know what you think on this point?
Expect a you sell at the close of the candle?
Hi Alexandr,

Well, as far as I can see, this is technically not a DBHLC: the 2 highs should be the same, at a 2 pips difference or so.
Even if it was one, I would not trade it: as you mention, the FTA is pretty close, the PA set up lack some confluence in my opinion, and is rather small compared to the uptrend (I don't like being the first to catch the beginning of a trend...)

one more thing. Selling at the close of the bar is rather risky. You better want to wait for the break of the PA set up, which confirms its validity. Some (many) traders also enter at the retrace, to lower their SL, but since the PA has not broken yet, it's riskier...

Just my thoughts though...

take care
Slow & steady
  • #122,535
  • Jan 15, 2013 11:31am Jan 15, 2013 11:31am
Quoting patapouer
'

Hi Alexandr,

Well, as far as I can see, this is technically not a DBHLC: the 2 highs should be the same, at a 2 pips difference or so.
Even if it was one, I would not trade it: as you mention, the FTA is pretty close, the PA set up lack some confluence in my opinion, and is rather small compared to the uptrend (I don't like being the first to catch the beginning of a trend...)

one more thing. Selling at the close of the bar is rather risky. You better want to wait for the break of the PA set up, which confirms its validity. Some (many)...
Thank you for your reply. I appreciate any comments.
I wanted to know what the merger is not enough in your opinion?
Sorry for my English
It's only after we've lost everything that we're free to do anything.
  • #122,536
  • Jan 15, 2013 11:57am Jan 15, 2013 11:57am
Quoting Alexandr51
Thank you for your reply. I appreciate any comments.
I wanted to know what the merger is not enough in your opinion?
Sorry for my English
Sorry, I think I don't get your point here. The merger?
In my opinion, the distance from the price to the first trouble area is too small, yes. By eye, I do not have any MT4 open right now, this wouldn't fit my criteria (I am sure it would fit someone's else )

take care,
Slow & steady
  • #122,537
  • Jan 15, 2013 1:06pm Jan 15, 2013 1:06pm
Quoting nwo-trader
Anybody taking a peak at Silver and Gold?
Pinbars on silver and gold are working out well.

Time to go on another vacation, back to Jamaica I go :-) Everything gonna be ireee
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Price is beautiful. A repetitive method is a competitive method.
  • #122,538
  • Jan 15, 2013 2:17pm Jan 15, 2013 2:17pm
I gave this one a shot. No close above HCR, resistance confirmation,double top with divergence.
I wonder if Jaroo would play this one or pass it...

GG
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  • #122,539
  • Jan 15, 2013 3:01pm Jan 15, 2013 3:01pm
Quoting Pinbar
I think you are not looking at the right Swing Low.
Here is the swing low I am looking at on the daily TF.
I take it you are talking about the daily TF.
hi pinbar

yeh i was talking about the daily time frame but i obviously misunderstood some stuff about jarroo's method. that explains what i need to look for in terms of LCS and HCR. still very keen to get into the PF so i can learn more about how it works.

thanks for your help.

obviously price did not break through that level so my supposed signal was not right. oh well live and learn.

thanks again for your help

hally
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  • #122,540
  • Jan 15, 2013 3:04pm Jan 15, 2013 3:04pm
Quoting Pinbar
If you are talking about the weekly TF, I would watch this area carfully.
See the three consolidation box areas on the left.
They still appear to be active.
thanks once again pinbar. i'll keep and eye on that.

hally
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