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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

  • #126,421
  • Jun 25, 2013 3:09am Jun 25, 2013 3:09am
Hey Jarro, my plane CHFSGD
http://i1243.photobucket.com/albums/...psab33196f.jpg
http://i1243.photobucket.com/albums/...ps76e084ac.jpg
  • #126,422
  • Jun 25, 2013 3:19am Jun 25, 2013 3:19am
Anyone looking at USDZAR?
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  • #126,423
  • Jun 25, 2013 4:33am Jun 25, 2013 4:33am
watching this to see what happens
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  • #126,424
  • Jun 25, 2013 6:48am Jun 25, 2013 6:48am
Quoting Greenhaze
{quote} yeah... i would like to see deeper pullback to 1.32 area. I have some limit sell orders waiting there. 1.3 looks like a fair price for the target and i hope i'll get better entry https://www.tradingview.com/x/pm6Ua8xq/ https://www.tradingview.com/x/PYmhv0T0/ {quote} Now.. if it could stay under 10.00 https://www.tradingview.com/x/a2HeQiux/
Yeah, that D-HCR looks interesting.
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  • #126,425
  • Jun 25, 2013 8:39am Jun 25, 2013 8:39am
Quoting hehesam
Anyone looking at USDZAR? {image} {image}
I'm watching this area myself with the BRN and rising TL. Let's see if we get any PA indication

Mike
  • #126,426
  • Edited 10:08am Jun 25, 2013 9:50am | Edited 10:08am
Watching USD/CHF with interest around this weekly level with a gap that has yet to get filled.

EDIT: No PB on the hourly.
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  • #126,427
  • Jun 25, 2013 11:58am Jun 25, 2013 11:58am
german siemens on daily at a longtime support-area.
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meine augen sind die sterne
  • #126,428
  • Jun 25, 2013 12:15pm Jun 25, 2013 12:15pm
I've played this pin bar from USG SGD daily. It had divergence and I think it was a fakey ??? The breakout bar from 2 days ago had a weak close. In this case the last swing doesn't act as support ? That's why I traded the pin but I don't know if my reasoning is right.
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  • #126,429
  • Jun 25, 2013 1:28pm Jun 25, 2013 1:28pm
Breackout TL + Higher High
http://i1243.photobucket.com/albums/...pse96324f0.jpg
  • #126,430
  • Jun 25, 2013 3:04pm Jun 25, 2013 3:04pm
Quoting mbqb11
{quote} Yep I had a feeling we wouldn't as well G. This is looking like a wick play in my book. That almost pinbar formed by weak sellers. Tend to fill that wick before reversing. That gap might draw more sellers though Mike
here is what I meant by that wick being filled. I call them wick plays


When you get a weak closing "almost" pinbar. So often that wick will fill(meaning price moves higher). The path of least resistance is up because the sell orders are absorbed and weak. I like to play these from time to time and I just buy on the close and target the top of the wick. I actually got stopped out here at just about b/e(a small few pip loss), after we came pretty close to my stop. Just thought I would share as people often say can we buy/sell into weak pins and the answer is yes. Ideally you want good confluence either way(wick plays are especially powerful after breakout or strong s/r areas.

Just more pieces to the puzzle for you all to ponder

Best
Mike
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  • #126,431
  • Jun 25, 2013 3:14pm Jun 25, 2013 3:14pm
Hi Mike

Very interesting. Could you maybe talk about these types of trades are managed? How are stops identified and the reasoning behind it? What are you looking for to tell you the trade is going your way or not and if it's worth holding?

Thanks as always dude
  • #126,432
  • Jun 25, 2013 3:39pm Jun 25, 2013 3:39pm
Quoting mbqb11
{quote} here is what I meant by that wick being filled. I call them wick plays When you get a weak closing "almost" pinbar. So often that wick will fill(meaning price moves higher). The path of least resistance is up because the sell orders are absorbed and weak. I like to play these from time to time and I just buy on the close and target the top of the wick. I actually got stopped out here at just about b/e(a small few pip loss), after we came pretty close to my stop. Just thought I would share as people often say can we buy/sell into weak pins...

Thank you for words Mike,

I hope this pin at 10.0 BRN USDZAR will be better.
I will wait with a buy limit for the right eye of the pin if its pin shape will be OK after closing.
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  • #126,433
  • Jun 25, 2013 5:24pm Jun 25, 2013 5:24pm
Hmm
Now I am wondering if EU is really ready to pop, before it pulls back to the 1.32000
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  • #126,434
  • Jun 26, 2013 12:03am Jun 26, 2013 12:03am
Quoting Pinbar
Hmm Now I am wondering if EU is really ready to pop, before it pulls back to the 1.32000 {image} {image}
"Pop" meaning go down or up? I think it'll test 1.3000 by Friday.
  • #126,435
  • Jun 26, 2013 3:01am Jun 26, 2013 3:01am
Quoting fascist
{quote} "Pop" meaning go down or up? I think it'll test 1.3000 by Friday.
Down but after a retest of level B.
  • #126,436
  • Jun 26, 2013 4:04am Jun 26, 2013 4:04am
looking to test the WHCR's and the 1.5000BRN. waiting for a 4hr signature with price action to go long.
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  • #126,437
  • Jun 26, 2013 4:50am Jun 26, 2013 4:50am
hi mbqb11, jaroo, pinbar,

Any idea why this pinbar on eur/usd daily didn't work.. it was located above the ppz zone, around 50 & 61.8 Fib, major trend was up, also 150ema and 36ema would have acted as good support but it didn't...maybe i am not looking it right....any advice will be great.


Regards

Dennis
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  • #126,438
  • Jun 26, 2013 4:55am Jun 26, 2013 4:55am
Quoting albus999
looking to test the WHCR's and the 1.5000BRN. waiting for a 4hr signature with price action to go long. {image}

My WHCR is 1.6358

The 1.5000 BRN is miles away?
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  • #126,439
  • Edited 5:33am Jun 26, 2013 5:16am | Edited 5:33am
Quoting Pinbar
{quote} My WHCR is 1.6358 The 1.5000 BRN is miles away? {image}
Pinbar,
sorry, guess i meant 1.6500
arent these two HCR's???? b'cos of the gap and as well the previous HCR's. or is the first HCR drawn wrongly.

AL
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  • #126,440
  • Jun 26, 2013 6:15am Jun 26, 2013 6:15am
This with respect to discussion on usdcad. Some were suggesting that it is a possible long entry. I thought long entry will face resistance because of previous ppzs. Did you'll take that into consideration? Or is it that the ppz levels were formed before 2011 (relative old) and hence do not carry much significance?

Thanks
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