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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

  • #125,801
  • May 30, 2013 2:48pm May 30, 2013 2:48pm
Quoting stark1
{quote} Correct. Break even = getting out where you entered when price comes back on you. More importantly, it means not losing money, and to quote Jim, 'goes in the 'win' column'
Hi stark1,

So I do not include the spread. So if say I entered at @ 102.56, to break even I move my stop back to 102.56? Thanks
  • #125,802
  • May 30, 2013 2:49pm May 30, 2013 2:49pm
Quoting gasgas
{quote} Thats right. Getting into free trade. Here's a script that makes this thingie easier. You might wanna use it {file}
Thanks gasgas, will give a try.
  • #125,803
  • May 30, 2013 2:56pm May 30, 2013 2:56pm
Quoting danjuma
{quote} Hi stark1, So I do not include the spread. So if say I entered at @ 102.56, to break even I move my stop back to 102.56? Thanks
You will need to add the spread also....or you will not be at BE, you will be at BE -the spead..
Dont worry, these things become second nature quite quickly.
happy hunting

jon

P.S on this thread the only stupid question is the one you didnt ask....
PATIENCE... DISCIPLINE
  • #125,804
  • May 30, 2013 3:08pm May 30, 2013 3:08pm
Quoting g_j_hook@yah
{quote} You will need to add the spread also....or you will not be at BE, you will be at BE -the spead..Dont worry, these things become second nature quite quickly.happy hunting jon P.S on this thread the only stupid question is the one you didnt ask....
Thanks.
  • #125,805
  • May 30, 2013 3:27pm May 30, 2013 3:27pm
Quoting gasgas
{quote} Thats right. Getting into free trade. Here's a script that makes this thingie easier. You might wanna use it {file}
thanks!
Slow & steady
  • #125,806
  • May 30, 2013 4:49pm May 30, 2013 4:49pm
Jarroo

If we get a bounce at this weekly HCR, would you say the daily SFP would make a logical target?
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  • #125,807
  • May 31, 2013 3:19am May 31, 2013 3:19am
Quoting g_j_hook@yah
P.S on this thread the only stupid question is the one you didnt ask....
I knew the quote was something like that, dammit....

Thanks - what he said.
When the going gets weird, the weird turn pro.
  • #125,808
  • May 31, 2013 3:47am May 31, 2013 3:47am
Quoting Pinbar
Jarroo If we get a bounce at this weekly HCR, would you say the daily SFP would make a logical target? {image} {image}

Hi Pinbar,
what is SFP?
  • #125,809
  • May 31, 2013 6:08am May 31, 2013 6:08am
SFP- Swing Failure Point.

Sorry, somehow my signature with the link to all the terminology has been trashed by these Damn updates they do to the board.
  • #125,810
  • May 31, 2013 8:50am May 31, 2013 8:50am
Thanks Pinbar
  • #125,811
  • May 31, 2013 9:00am May 31, 2013 9:00am
Hi guys!

I only got 1 exam left (on next Wednesday) - then I'll be 100% on forex again
But i have a question. I just made this screen from j16's webinar. He was talkin' about pins and he pointed out that pin, that just bounced back from 150EMA. BUT - i also noticed another pin. (marked on chart)
What was the problem here, what do you think? Here is what I think and if im wrong please correct me!!!

-Closed above both HCRs
-For me FTA would be the purple line. So thats my space.
- This is maybe Bull**** but if I try to get a story this is what I can think of: Price was trying to break that purple line so hard (making higher lows etc) - and when it broke it was sooo happy, that it didnt much want to stop at the yellow/blue line - it had momentum. (Please tell me if has at lease 1% sense in it... )

Lets assume I took it, and closed in loss. Now i see the second pin (which was marked by James)

- It has got the 150EMA above - now lets stop for a second - can a 150EMA be so strong that it pushes price off like that? I mean I tried to look back and i noted that if not even most of the time but usually price (and people behind it) doesn't care much about EMAs...
And I dont see ANYTHING else, only this EMA, which makes me wonder if its a good setup.
- My FTA would just be the zone (blue+yellow) we just broke! Which leaves me with not much of a space...

What do you think? Am I right/wrong?

Thanks, have a nice weekend guys!
Stephen
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It's all psychology...
  • #125,812
  • May 31, 2013 9:07am May 31, 2013 9:07am
Finally we have movement!
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Time for a new chapter
  • #125,813
  • May 31, 2013 9:37am May 31, 2013 9:37am
Quoting mbqb11
some charts {image} {image} {image}
last equity update on CNS
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  • #125,814
  • May 31, 2013 9:48am May 31, 2013 9:48am
if it would close below 97 i will go for 94
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all is eternal - this is good news for people who loves bad news
  • #125,815
  • May 31, 2013 12:38pm May 31, 2013 12:38pm
great long here. ETFC.
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all is eternal - this is good news for people who loves bad news
  • #125,816
  • May 31, 2013 12:51pm May 31, 2013 12:51pm
Quoting meshka
if it would close below 97 i will go for 94 {image}
been liking this chart lately too!
i shorted the break of 97.00 and am now trying the retest at about the same price after it bounced of 97.00 to the pip and printed a poxy 15m PB. got my stop above those bar lows for now trying not to get spiked out.
watching to see if it breaks the TL i have drawn and proove it valid. a bit slow now but ill wait n see.
i see 95.00 as the first target..??
hope it does what you said..

jon
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PATIENCE... DISCIPLINE
  • #125,817
  • May 31, 2013 12:58pm May 31, 2013 12:58pm
similar situation with the us/chf
trying to short the retest of the .9600 break. 1H printed a small PB. not a great setup and i will not take a full loss on this if it goes north. the momentum seems on holiday here so one to keep an eye on

jon
PATIENCE... DISCIPLINE
  • #125,818
  • May 31, 2013 1:02pm May 31, 2013 1:02pm
the chart
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PATIENCE... DISCIPLINE
  • #125,819
  • May 31, 2013 1:14pm May 31, 2013 1:14pm
Quoting LamerTrader
Hi guys! I only got 1 exam left (on next Wednesday) - then I'll be 100% on forex again But i have a question. I just made this screen from j16's webinar. He was talkin' about pins and he pointed out that pin, that just bounced back from 150EMA. BUT - i also noticed another pin. (marked on chart) What was the problem here, what do you think? Here is what I think and if im wrong please correct me!!! -Closed above both HCRs -For me FTA would be the purple line. So thats my space. - This is maybe Bull**** but if I try to get a story this is what...
hey Stephen,

You are on the right track. The pin you pointed out is weaker than the one James pointed at as it was headed straight for a near by trouble area which you correctly identified.

Notice how for James' pin, not only does it have confluence with the 150 EMA it has also tested the region above the prior swing high more obviously than the first pin. Finally notice how James pin did actually end up closing within the the pin bar you pointed at. All signs of the bears tipping in more so off the second pin than the first.

g.
I believe . . .
  • #125,820
  • May 31, 2013 1:24pm May 31, 2013 1:24pm
gbp/nzd coming into some heavy resistance.
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meine augen sind die sterne
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