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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

  • #124,701
  • Edited 6:27pm Apr 13, 2013 5:51pm | Edited 6:27pm
Quoting gasgas
Yes i agree, rejection/wick showing lack of momentum. Still H4 closing better. Though there was never time to BE or take profit really. Tnx guys {image}
ahh, okay, my mistake; thought you entered on the intial break and push up to .8080....my reasoning for the fall is still the same (you also have to remember it was Friday, not much liquidity or momentum as the day goes on)
  • #124,702
  • Apr 14, 2013 2:54am Apr 14, 2013 2:54am
Quoting majc33
Hello everyone, I am wondering if anyone has any thoughts on my post? Thanks, Jim
Hi, I had an eye on this pair as well. Technically this is not a pinbar, however I feel its still OK here, call it a fakey, but whatever. I originally dismissed it, as this is trending strongly down, and has had fresh new lows, so we were effectively calling this a bottom is we went long. I was not keen on doing that.

After looking closely, we do see some divergence here, and price did shoot up after breaking the fakey and this retrace might make it go higher, but still not sure picking reversal is what gets a lot of peopled fleeced. But this maybe good, also looking at other NZD and GBP pairs, NZD looks toppy, and GBP is strong. Just my thoughts.
  • #124,703
  • Apr 14, 2013 4:51am Apr 14, 2013 4:51am
Quoting jaypatel33
Hi, I had an eye on this pair as well. Technically this is not a pinbar, however I feel its still OK here, call it a fakey, but whatever. I originally dismissed it, as this is trending strongly down, and has had fresh new lows, so we were effectively calling this a bottom is we went long. I was not keen on doing that. After looking closely, we do see some divergence here, and price did shoot up after breaking the fakey and this retrace might make it go higher, but still not sure picking reversal is what gets a lot of peopled fleeced. But this maybe...
Thanks japatel33.

Will keep my eye on this one in the coming week.

Have a good one!

Jim
  • #124,704
  • Apr 14, 2013 7:59am Apr 14, 2013 7:59am
Quoting majc33
Thanks japatel33. Will keep my eye on this one in the coming week. Have a good one! Jim
Hey Majc

Also this is something that I see a lot of new traders do with trying to do a Multi timeframe analysis. THis is very tricky in my opinion. I try to think of each timeframe as have its own ebb and flow and the disconnect b/w the 4hr and a weekly can be drastic and involve a lot more analysis which can lead to a lot more mistakes. Simplify it is always my suggestion.

My chart would look like this of a great area to watch

Sorry for the late reply interenet was up and down all weekend
Mike
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  • #124,705
  • Apr 14, 2013 8:09am Apr 14, 2013 8:09am
I watch eurusd - nice hcr/lcs - both daily and weekly, ema365 and fibs...I'm waiting for PBT&CA..
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  • #124,706
  • Apr 14, 2013 8:13am Apr 14, 2013 8:13am
The 92.5 PPZ area looks like a good short to me. We've had a breakout out of the lower TL. If we could get a retrace to that 92.5 PPZ I'll be looking to go short. Any thoughts?
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  • #124,707
  • Apr 14, 2013 8:31am Apr 14, 2013 8:31am
Quoting mbqb11
Hey Majc Also this is something that I see a lot of new traders do with trying to do a Multi timeframe analysis. THis is very tricky in my opinion. I try to think of each timeframe as have its own ebb and flow and the disconnect b/w the 4hr and a weekly can be drastic and involve a lot more analysis which can lead to a lot more mistakes. Simplify it is always my suggestion. My chart would look like this of a great area to watch Sorry for the late reply interenet was up and down all weekend Mike {image}
Hi Mike.

Thanks for this. Very insightful. I am trying to keep things simple. I guess I get all caught up what the price is telling me that I want to get clearer confirmation on my decision.

Really appreciate this. Keep up the great work that you're doing!

Jim
  • #124,708
  • Apr 14, 2013 8:50am Apr 14, 2013 8:50am
Quoting Martin600
Does somebody consider this trade? It´s quite nice set up with a lot of confluence, but not much space {image}
hi. I was considering this but for me there is not enough space to enter on the break because 0.79 major trouble area is too close. A logical plan would be to enter on the retrace of the left eye which lines up with 0.8 and look to 0.79 to take profit or go to b/e (this is about 1:1 risk to reward which is interesting) but i dont recommend this because its too risky for me.
im waiting for a strong beob breaking out of the major tl. Its worth checking out d2 timeframe if there is something interesting going on with the daily so good spot thanks for posting.
Pip Project - Trading Channel
  • #124,709
  • Apr 14, 2013 12:09pm Apr 14, 2013 12:09pm
Anybody looking at massive pin bars on the weekly for the YEN pairs?
  • #124,710
  • Apr 14, 2013 12:19pm Apr 14, 2013 12:19pm
Quoting jaypatel33
Anybody looking at massive pin bars on the weekly for the YEN pairs?
Be careful as these bars are not pinbars - they need to open and close within the previous bar to be a pinbar. Also, they are fighting a huge uptrend.
  • #124,711
  • Apr 14, 2013 12:32pm Apr 14, 2013 12:32pm
Quoting mbqb11
Hey Majc Also this is something that I see a lot of new traders do with trying to do a Multi timeframe analysis. THis is very tricky in my opinion. I try to think of each timeframe as have its own ebb and flow and the disconnect b/w the 4hr and a weekly can be drastic and involve a lot more analysis which can lead to a lot more mistakes. Simplify it is always my suggestion. My chart would look like this of a great area to watch Sorry for the late reply interenet was up and down all weekend Mike {image}
hello mike do you use just one time frames for your analysis based on what you said..................
  • #124,712
  • Apr 14, 2013 12:53pm Apr 14, 2013 12:53pm
Quoting carbonado
hello mike do you use just one time frames for your analysis based on what you said..................
Hey C

For the most part yes. I do all my analysis and trading on the same timeframe. Some cases are a bit different but for the most part yep I like to keep it simple. It makes it a LOT easier in my opinion

Best
Mike
  • #124,713
  • Apr 14, 2013 3:28pm Apr 14, 2013 3:28pm
Quoting morph
Be careful as these bars are not pinbars - they need to open and close within the previous bar to be a pinbar. Also, they are fighting a huge uptrend.
Yea, I didn't trade it, I just looked at the trend and thought I am not skilled to counter trend trade this stuff. Thanks.
  • #124,714
  • Apr 14, 2013 6:00pm Apr 14, 2013 6:00pm
Damn. got up too late for this entry.
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  • #124,715
  • Apr 14, 2013 7:48pm Apr 14, 2013 7:48pm
Wow, looks very different right now.
Something go down in AU or something?
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  • #124,716
  • Apr 14, 2013 11:51pm Apr 14, 2013 11:51pm
Quoting Pinbar
Wow, looks very different right now. Something go down in AU or something? {image}
Can't be sure, but probably something with weakening in China's growth...We've got drop from 7.9 to 7.7 in China GDP growth...
  • #124,717
  • Apr 15, 2013 2:33am Apr 15, 2013 2:33am
Quoting rafstraszek
I watch eurusd - nice hcr/lcs - both daily and weekly, ema365 and fibs...I'm waiting for PBT&CA.. {image}
Hi Guys, I love reading your thread..I have subscribed to James 16, would love to know what the abbreviations are..!! HCR/LCS..??

PBT&CA...??? Think I have the other one down, thanks, (please don't tell me to read from page 1),,,HAHA , S
  • #124,718
  • Apr 15, 2013 2:36am Apr 15, 2013 2:36am
Quoting sio bel
Hi Guys, I love reading your thread..I have subscribed to James 16, would love to know what the abbreviations are..!! HCR/LCS..?? PBT&CA...??? Think I have the other one down, thanks, (please don't tell me to read from page 1),,,HAHA , S

HCR : Higher Close Resistance
LCS : Lower Close Support

PBT : Price Break Through
CA : Close Above

CMIIW
  • #124,719
  • Apr 15, 2013 2:46am Apr 15, 2013 2:46am
Quoting sio bel
Hi Guys, I love reading your thread..I have subscribed to James 16, would love to know what the abbreviations are..!! HCR/LCS..?? PBT&CA...??? Think I have the other one down, thanks, (please don't tell me to read from page 1),,,HAHA , S
Link from Pinbar's sig:
http://www.forexfactory.com/showthre...742#post657174 2

You can find there our terminology...
  • #124,720
  • Apr 15, 2013 3:05am Apr 15, 2013 3:05am
Quoting sio bel
Hi Guys, I love reading your thread..I have subscribed to James 16, would love to know what the abbreviations are..!! HCR/LCS..?? PBT&CA...??? Think I have the other one down, thanks, (please don't tell me to read from page 1),,,HAHA , S

Why not? That is exactly what I did & many others.
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