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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

  • #125,341
  • May 11, 2013 2:37am May 11, 2013 2:37am
Quoting Bones
awesome ,very impressed {quote}
Thanks Bones . .the 15min bearish signatures (meaning Price could not Close above these Daily levels on the 15min) was very nice too.

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #125,342
  • May 11, 2013 2:48am May 11, 2013 2:48am
Quoting GiovanniV
{quote} sorry for my english Jarroo! I would like to know which of these levels 0.9577 - 0.96267 - 96988 is correct, and why? {image}
No problem, G.

I would look to the Monthly Lowest Close of Support (LCS) 0.9485 and the Weekly LCS 0.9447.

Price is beginning to compress a bit, forming a wedge Price Pattern. We can take a page out of Mike's (mbqb11) book and play a Break Out of this formation.

Jim
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #125,343
  • May 11, 2013 3:26am May 11, 2013 3:26am
Jim im a great believer in price anticipation ,also how Mike handled the Aud Nzd , anticipated it then got straight out at first res ,

james 16 with his” where’s price gonna go slogan” ,love it ,its inspiring and gives confidence it can be done

Tony




Quoting jarroo
{quote} Thanks Bones . .the 15min bearish signatures (meaning Price could not Close above these Daily levels on the 15min) was very nice too. Jim {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #125,344
  • May 11, 2013 3:29am May 11, 2013 3:29am
Hi Jarroo
Can I ask your opinion on the GBP.AUD see attached chart.
Price has /is forming a pin bar at a significant area - WLCS/WHRC and Daily levels LCR/HCR.
I am short based on the above
Thanks
Attached Image (click to enlarge)
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  • #125,345
  • May 11, 2013 4:10am May 11, 2013 4:10am
Quoting moneyrunner
Hi Jarroo Can I ask your opinion on the GBP.AUD see attached chart. Price has /is forming a pin bar at a significant area - WLCS/WHRC and Daily levels LCR/HCR. I am short based on the above Thanks {image}

Hey moneyrunner that PB looks pretty small and not that bearish . .

I like your levels . .very good . .look for them to act as Support instead of Resistance next week . .Price looks to be struggling to act as Resistance there . .

A Daily Close Above those levels looks good for a long . .meaning they should now be Support.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #125,346
  • May 11, 2013 4:19am May 11, 2013 4:19am
Hi Jim
Thanks for the reply, glad my identification of the levels is working at least....
  • #125,347
  • May 11, 2013 4:45am May 11, 2013 4:45am
Quoting moneyrunner
Hi Jim Thanks for the reply, glad my identification of the levels is working at least....

HCR/LCS levels are pretty easy to find and identify . .don't you think? . .
Indicators show the past. Price Action "Indicates" the future.
  • #125,348
  • Edited 10:03am May 11, 2013 6:27am | Edited 10:03am
Hi M I hope Jim dosent mind im looking also looking to get short ,totally agree we are on support right now ,I think you can see potential bullish Aud ,say like aud nzd
but I must agree wait for now see how unfolds


Quoting moneyrunner
Hi Jarroo Can I ask your opinion on the GBP.AUD see attached chart. Price has /is forming a pin bar at a significant area - WLCS/WHRC and Daily levels LCR/HCR. I am short based on the above Thanks {image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp aud 11-5-13 d1.png Size: 48 KB
Click to Enlarge Name: aud lfx d1 bullish 11-5-13.gif Size: 19 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #125,349
  • May 11, 2013 9:22am May 11, 2013 9:22am
Hi, everybody! I from the Russian Federation.

gbp/usd Day and gbp/usd Weekly. Good entry point?
Attached Image(s) (click to enlarge)
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Трейдер редко ошибается дважды - обычно раза три или больше.
  • #125,350
  • May 11, 2013 2:34pm May 11, 2013 2:34pm
Jarroo

Would you mind giving me your take on what is going on with AUD/USD?

We have parity, an old LCS albeit distant and minor & we just had a weekly SFP, there is also considerable space to the FTA.

Just looking at both methodologies and seeing how, they both seem to be giving the go signal.

Thanks in advance.
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  • #125,351
  • May 12, 2013 4:30am May 12, 2013 4:30am
Quoting mbqb11
{quote} Hey Si Honestly don't even worry about your leverage. If you go through that thread we have two kinds of leverage. Broker leverage and true leverage. The thing is when you risk a fixed amount like your above example that all gets taken care of. The most important thing is to make sure to get your $ per pip X stop loss to equal your risk amount. It's that simple! Best Mike


Thanks for clearing that up mike
  • #125,352
  • May 12, 2013 6:36am May 12, 2013 6:36am
heres an idea



Quoting Pinbar
Jarroo Would you mind giving me your take on what is going on with AUD/USD? We have parity, an old LCS albeit distant and minor & we just had a weekly SFP, there is also considerable space to the FTA. Just looking at both methodologies and seeing how, they both seem to be giving the go signal. Thanks in advance. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd 12-5-13 j16.gif Size: 343 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #125,353
  • May 12, 2013 9:54am May 12, 2013 9:54am
great Bones, this is my plan

http://i1243.photobucket.com/albums/...pscafadea4.jpg
http://i1243.photobucket.com/albums/...ps1cfca993.jpg
  • #125,354
  • May 12, 2013 11:16am May 12, 2013 11:16am
GBPUSD
Weekly No close below 1.5346. the price is at the confluence with the trendline
http://i1243.photobucket.com/albums/...psfb83286f.jpg
http://i1243.photobucket.com/albums/...ps0eff2542.jpg
  • #125,355
  • Edited 12:24pm May 12, 2013 12:09pm | Edited 12:24pm
Quoting Bones
Hi M I hope Jim dosent mind im looking also looking to get short ,totally agree we are on support right now ,I think you can see potential bullish Aud ,say like aud nzd but I must agree wait for now see how unfolds {quote} {image} {image}

I like your plan, Bones . .

But that uptrend sure is strong and plotting. A strong Close Below the 1.5300ish level would give me more confirmation if a downward trend is in store . .

This may come at day's end today or this week . .if not . .we are going up .

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #125,356
  • May 12, 2013 1:12pm May 12, 2013 1:12pm
Quoting Pinbar
Jarroo Would you mind giving me your take on what is going on with AUD/USD? We have parity, an old LCS albeit distant and minor & we just had a weekly SFP, there is also considerable space to the FTA. Just looking at both methodologies and seeing how, they both seem to be giving the go signal. Thanks in advance. {image}

Yes, those past swing points are minor and I would not consider them in play for a SFP. These other ones were nice.

I would look for the lower true Swing Low for a SFP to present itself.

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #125,357
  • Edited 1:49pm May 12, 2013 1:19pm | Edited 1:49pm
Great Jim the wick at 100 pips you know its big for this chart have a look

The Aud lfx has 2 Doji on d1 at 50% of last up ,and is diverging as Mike point out with lows ,it broke tl which could be tested underside
It has broke range say on aud usd ,I think must test underside prior to fall to bottom of second lower range ,
the up move to test will take gbp aud down to tl ,
The gbp lfx is up against huge res ,just small up next week I think

lol that's my thoughts some strong confluence





Quoting jarroo
{quote} I like your plan, Bones . . But that uptrend sure is strong and plotting. A strong Close Below the 1.5300ish level would give me more confirmation if a downward trend is in store . . This may come at day's end today or this week . .if not . .we are going up . Jim {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #125,358
  • May 12, 2013 1:29pm May 12, 2013 1:29pm
Quoting Pinbar
Jarroo Would you mind giving me your take on what is going on with AUD/USD? We have parity, an old LCS albeit distant and minor & we just had a weekly SFP, there is also considerable space to the FTA. Just looking at both methodologies and seeing how, they both seem to be giving the go signal. Thanks in advance. {image}

W have a big story Price Pattern break out on the Weekly AudUsd . .the Weekly and Daily LCS levels will play their roles . .

There is a minor W LCS and the Weekly has Closed below it. Look for this level to act as Resistance . .if it gets up there. .

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: audwekly.gif Size: 38 KB
Indicators show the past. Price Action "Indicates" the future.
  • #125,359
  • May 12, 2013 1:35pm May 12, 2013 1:35pm
Quoting Bones
Great Jim the wick at 100 pips you know its big for this chart have a look The Aud lfx has 2 Doji on d1 at 50% of last up ,and is diverging as Mike point out with lows ,it broke tl which could be tested underside It has broke range say on aud usd ,I think must test underside prior to fall to bottom of second lower range , the up move to test will take gbp aud down to tl , The gbp lfx is up against huge res ,just small up next week I think lol that's my thoughts some strong confluence {quote}
A 100 pips may be big for the chart but not for this pair . .

So if you have strong indications of Resistance and Price breaks through that Resistance upward . .what does that tell you about the strength of the move upward? . .pretty strong . .

we'll see how it plays out , my friend . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #125,360
  • Edited 2:03pm May 12, 2013 1:50pm | Edited 2:03pm
Your right to be cautions jim often im not at all ,

my guess is its not going to fall ,plenty of time more consolidate first
2 touch respect of tl would be great trade
+ underside 5300 ,tl as we see

100pips is not a lot for charts movement but is for reversal type set ups
Attached Image (click to enlarge)
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