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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

  • #136,681
  • Aug 26, 2015 11:21am Aug 26, 2015 11:21am
EURJPY 30 MIN pinbar, not an amazing pinbar (B+), but the S&R zone it appeared at had been well respected previously.

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  • #136,682
  • Aug 26, 2015 11:35am Aug 26, 2015 11:35am
GBPJPY 4 hr

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  • #136,683
  • Aug 26, 2015 2:34pm Aug 26, 2015 2:34pm
This one would have been a nice long, but it shows a W1 pin also.
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  • #136,684
  • Aug 26, 2015 2:47pm Aug 26, 2015 2:47pm
Quoting mordin
{quote} Very interesting your thoughts. I saw that but avoided it as it is technically not a pinbar, the close is not on the previous body, and also because it was bearish. I can see it closed above BRN, but what other confluence do you see? Thanks.
Hey Mordin. Sorry for the confusion. You are correct about the H4 PB. A bearish PB close when trading long lessens the odds to be sure. I don't know why I didn't just post this H1 chart in the first place. This bar below on the H1 was my confluence and entry. Best wishes, GB.

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'Fail to plan, plan to fail'
  • #136,685
  • Aug 26, 2015 10:42pm Aug 26, 2015 10:42pm
Quoting oble
{quote} I'm still sitting at the sidelines.. No "Grade A" trades sticking out to me in the charts available to my demo account at the moment. I saw the GBP/USD BUOB breakout yesterday, but looking at the location and where the BUOB closed (below 1.5800 PPZ), I decided to not trade it but watch how yesterday's bar retrace.
Quote
Don't you think it's false break, 2 day BEPB has formed & price is returning to the box?

Thanks Oble and Anti for your input..
Adhav
  • #136,686
  • Edited 2:04am Aug 27, 2015 1:32am | Edited 2:04am
Hi everyone. This is my first post in the forum. I have been reading through all this info trying to take in as much as I can trying to learn this craft the right way (from experienced traders).

With the really basic knowledge I've learned so far, I've entered the trade below on EURCAD on my demo account. It is the first time I've tried to use some of the information I've learned here but I think I didn't quite get it right....

I entered this trade due to the DBLC on the daily and bearish OVB on the 1 hour, but is the indicator on the daily chart negated by the bar before the DBLC which spikes higher than it? This trade is currently up (the most I've ever been), but I want to know if I just got lucky here or if that indicator was valid??

Thank you in advance for your help, I know I have a ridiculous amount to learn and am looking forward to it.
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  • #136,687
  • Aug 27, 2015 2:05am Aug 27, 2015 2:05am
Quoting Kershey
This one would have been a nice long, but it shows a W1 pin also. {image}
Again -not a good Pin (at high and lows of trends) and it is in a ranging market. You were lucky but remember that no way was that a class "A" pin. Nothing stops you trading it of course but you have to be extra attentive when trading a poor pin in a poor location.
every Saint has a past. Every Sinner has a Future
  • #136,688
  • Aug 27, 2015 5:01am Aug 27, 2015 5:01am
Quoting turnip15
{quote} Again -not a good Pin (at high and lows of trends) and it is in a ranging market. You were lucky but remember that no way was that a class "A" pin. Nothing stops you trading it of course but you have to be extra attentive when trading a poor pin in a poor location.

Hello turnip15,

I appreciate your feedback and agree with you that this pin alone is not a "A" pin.
Nevertheless, what seperates this pin from a poor pin for me, is the fact that
the D1 pin itself consists of decent 1H pin followed by a 4H outside bar off the yellow zone (both confirmed).

I did not trade the setup, since the weekly shows a topping out with a red W1 pin.
But in case of trading it, the risk would be small (easy to digest a looser) and
the target three times the risk.
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  • #136,689
  • Aug 27, 2015 7:48am Aug 27, 2015 7:48am
Anybody looking at the weekly chart for Dow30 and S&P 500?
  • #136,690
  • Aug 27, 2015 2:12pm Aug 27, 2015 2:12pm
long USD/ZAR, trendline break after 4H outside bar off 13.000 BRN and positive US GDP.
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  • #136,691
  • Aug 27, 2015 2:36pm Aug 27, 2015 2:36pm
Quoting Kershey
long USD/ZAR, trendline break after 4H outside bar off 13.000 BRN and positive US GDP. {image}
Quite a poor trendline in my opinion. Also, keep an eye on the weekly.
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Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #136,692
  • Aug 27, 2015 3:28pm Aug 27, 2015 3:28pm
USDZAR 4HR, the only place I would look for a trade would be the 13.00 area or the S&R area below, both have been respected recently.

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  • #136,693
  • Aug 27, 2015 6:46pm Aug 27, 2015 6:46pm
Quoting Kershey
long USD/ZAR, trendline break after 4H outside bar off 13.000 BRN and positive US GDP. {image}
I don't see an outside bar on your H4 chart.
  • #136,694
  • Aug 28, 2015 1:36am Aug 28, 2015 1:36am
Finally got my BE on USDCAD.

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  • #136,695
  • Aug 28, 2015 2:33am Aug 28, 2015 2:33am
Dow 30 Weekly chart: looking juicy?
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  • #136,696
  • Aug 28, 2015 3:53am Aug 28, 2015 3:53am
GBPJPY 15 min outside Bar

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  • #136,697
  • Edited 12:52pm Aug 28, 2015 4:10am | Edited 12:52pm
Oil dbhlc h4

Update: stopped out.

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'Fail to plan, plan to fail'
  • #136,698
  • Aug 28, 2015 4:51am Aug 28, 2015 4:51am
Quoting fascist
Dow 30 Weekly chart: looking juicy? {image}
Matches FTSE 100 Futures WEEKLY.

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DOW 30 Futures WEEKLY.

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  • #136,699
  • Aug 28, 2015 5:13am Aug 28, 2015 5:13am
Quoting fascist
Dow 30 Weekly chart: looking juicy? {image}
I'd be looking to short if price gets a bit higher next week.
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  • #136,700
  • Aug 28, 2015 5:27am Aug 28, 2015 5:27am
Quoting Guitarbloke
Oil dbhlc h4 {image}
Looks good, I'm in that one too.


USD/ZAR:
Took small profit after price could not close 4H above yesterdays high.
Should have place SL to BE and let it run, but the entry not on a retracement
and thus suboptimal.
Looking for a new buy at 13.0000
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