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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

  • #135,941
  • Jul 15, 2015 3:45am Jul 15, 2015 3:45am
PB at bottom of range, PPZ and entered on the retrace. BE for now. Target @ top of the range. I have confidence in this setup as there is divergence on the hourly chart. No hope here just seeing the chart as is.
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  • #135,942
  • Jul 15, 2015 4:03am Jul 15, 2015 4:03am
And out at Midpoint PPZ after a bearish 30m PB as my entry on was on 30min too.
  • #135,943
  • Jul 15, 2015 8:17am Jul 15, 2015 8:17am
Quoting Fonz28
PB at bottom of range, PPZ and entered on the retrace. BE for now. Target @ top of the range. I have confidence in this setup as there is divergence on the hourly chart. No hope here just seeing the chart as is. {image}
That's not a Pin bar but a buob. However, well done none the less :-)
every Saint has a past. Every Sinner has a Future
  • #135,944
  • Jul 15, 2015 9:46am Jul 15, 2015 9:46am
guys, please be picky with your trades. in the last days we have seen a couple of setups (gbp/usd usd/cad) where people were taking losses.
losses are part of the game, yes. but please aware that not the bar itself is important, but the location.
look for the location first. then wait for a bar, a price-action setup to form.
just my 2cents
meine augen sind die sterne
  • #135,945
  • Jul 15, 2015 9:47am Jul 15, 2015 9:47am
Quoting aserbfx
{quote} this bar doesn't look good as a beob. mostly because of the fact that we have a ranging market and a weak close of the bar. just my 2c
Hey aserbfx, wotsup? good to see ye still around, hope things are well for ye.

iv seen a few dodgy looking trigger bars flagged here recently and im with you on this one aswell, its a very weak bar to say the least. the Pin bar flagged on the usd/cad 1d chart was another example of picking the right shaped bar out of the chart without giving enough consideration for the rest of the story imho, its very small compared to the other bars around it and although it is at a good location the size of the bar alone makes it an easy pass for me. it doesnt test the ground at all thoroughly enough for my liking. We should be more carefull to stack the cards in our favour ino... acounts go down a lot easier than they go up???

jus my 2c


happy hunting

jon
PATIENCE... DISCIPLINE
  • #135,946
  • Edited 10:08am Jul 15, 2015 9:52am | Edited 10:08am
Quoting aserbfx
guys, please be picky with your trades. in the last days we have seen a couple of setups (gbp/usd usd/cad) where people were taking losses. losses are part of the game, yes. but please aware that not the bar itself is important, but the location. look for the location first. then wait for a bar, a price-action setup to form. just my 2cents

lol beat me too it pal.... i hadnt read this far earlier.....



jon
PATIENCE... DISCIPLINE
  • #135,947
  • Jul 15, 2015 9:56am Jul 15, 2015 9:56am
Quoting ziven78
{quote} have a question to more experience traders here, would you consider this PA as 2H PB for example (it wouldn't be proper PB as such anyway). I mean do you join them 2 candles together to get a PB sometimes ? there is still PB on 4H though {image} {image}

joining candles in the way you have discribed can be a good way to see info that is not so obvious with the charts designated TFs. they are as legit as any other inho though you have to remember to see the other candles on the chart in the same TF to give the one your interested in its proper perspective: it might not look so prominant for eg when you concider the size of the average candle after joining them all....

happy hunting

jon.
PATIENCE... DISCIPLINE
  • #135,948
  • Jul 15, 2015 10:54am Jul 15, 2015 10:54am
Aserbfx and G_j_hook@yah. I admit, I've taken some weak signals this week and got punished for it. Thanks for the reminder to be picky.
Regarding USDCAD, I didn't see it as being a poor trade by any means, apart from it being a little small. And if it wasn't for Kershey I would have jumped in at the ret and taken another loss. But this is why I'm here, to learn from more experienced traders. Please don't be afraid to point out my errors if and when I post dodgy setups, because that's how I learn.

Thanks again.
Courtney
  • #135,949
  • Jul 15, 2015 11:09am Jul 15, 2015 11:09am
Quoting g_j_hook@yah
{quote} Hey aserbfx, wotsup? good to see ye still around, hope things are well for ye. ...
thanks jon, everything is fine. i hope for you too...
nice to see some mates from the "old gang" ...
meine augen sind die sterne
  • #135,950
  • Jul 15, 2015 11:27am Jul 15, 2015 11:27am
Here are two good trades working out for me. An IB and BUOB:
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  • #135,951
  • Jul 15, 2015 1:40pm Jul 15, 2015 1:40pm
finally some good trades on the Daily with the pound. The moves have been tremendous (aprox. 300 points on GBPAUD and 450 points on GBPNZD).

Partial profit taken, the rest will float freely.
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Market can stay irrational longer than you can stay solvent.
  • #135,952
  • Jul 15, 2015 3:10pm Jul 15, 2015 3:10pm
NZD/USD D1 BEOVB 4 days back. profit locked. Riding it down.

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'Fail to plan, plan to fail'
  • #135,953
  • Jul 15, 2015 3:35pm Jul 15, 2015 3:35pm
Looks like an Engulfing candle soon to finish on the AUD JPY daily.
  • #135,954
  • Jul 15, 2015 10:59pm Jul 15, 2015 10:59pm
Newbie question: Did I draw my PPZs right in this AUD/JPY daily?
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  • #135,955
  • Jul 15, 2015 11:24pm Jul 15, 2015 11:24pm
Quoting oble
Newbie question: Did I draw my PPZs right in this AUD/JPY daily? {image}
you sure did
  • #135,956
  • Jul 16, 2015 1:14am Jul 16, 2015 1:14am
Quoting Bladerunn3r
Looks like an Engulfing candle soon to finish on the AUD JPY daily.
Hi Blade, i took NZDJPY instead, it seemed to me more prone to fall, there were also some news coming out reg. NZD. While AUDJPY is still hanging, NZDJPY fell 100 points, so i took partial profits at Support 80.50 (from weekly).

did you take the BEOB on AUDJPY?
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Market can stay irrational longer than you can stay solvent.
  • #135,957
  • Jul 16, 2015 1:17am Jul 16, 2015 1:17am
Quoting FXBat
{quote} Hi Blade, i took NZDJPY instead, it seemed to me more prone to fall, there were also some news coming out reg. NZD. While AUDJPY is still hanging, NZDJPY fell 100 points, so i took partial profits at Support 80.50 (from weekly). did you take the BEOB on AUDJPY? {image}
Hi Bat, nice profits mate

I held off taking the move I am 120 pips up on the weekly pin on GBP JPY so didn't want to start buying and selling the came currency at the same time.
  • #135,958
  • Jul 16, 2015 1:23am Jul 16, 2015 1:23am
Nice job on the NZDJPY Fxbat, it looks like it's reaching a PPZ @ 80.40. Here is a chart with EURGBP weekly @0.70 area which is historically a major PPZ. Let's see if we can get some PA on the lower TFs. With the news and debacle out from Greece there will a lot of volitility in the opening European session coming up.
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  • #135,959
  • Edited 7:13am Jul 16, 2015 2:33am | Edited 7:13am
Speaking of AUD/JPY. D1 BEOVB. see how he goes.

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EUR/AUD H4 IB. heading into some flak. Fasten seat belts.

Update: took profit at 1.47000 level

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EUR/USD H4 BEOVB. Looks like this one is taking off.

Hey AntiS. re AUD/JPY Yes, I agree with your observations. I am looking to TP just above the monthly s/r zone.

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'Fail to plan, plan to fail'
  • #135,960
  • Jul 16, 2015 4:41am Jul 16, 2015 4:41am
Quoting Guitarbloke
Speaking of AUD/JPY. D1 BEOVB. see how he goes. {image}
Hmm..... I decided not to trade this setup, because firstly it is more than 100 pips (Zamfir recomended to ignore such OVB), secondly on weekly chart there is BUPB & thirdly there is a strong monthly s/r level just below the price. Is my reasoning right?
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