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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

  • #140,381
  • Mar 11, 2017 11:46pm Mar 11, 2017 11:46pm
Quoting Alex80
CHF/JPY At the upper boundary of the descending channel, at the level of 113.70 a pin bar was formed. On Monday we try to sell {image}
Hey Alex, I think you'd better buy from 113.00 not sell. Cause it is counter mid-term trend, in my opinion. Let's wait and see. Good luck!
profitable trading does not mean trading everyday
  • #140,382
  • Mar 12, 2017 4:35am Mar 12, 2017 4:35am
Quoting Alex80
CHF/JPY At the upper boundary of the descending channel, at the level of 113.70 a pin bar was formed. On Monday we try to sell {image}
Hi Alex the 113.5 is a PPZ also you have a ret fibo there

Attached Image (click to enlarge)
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@hendzwoter you can try, but i think you should first learn to trade with triger( PA bar- outside bar, pin bar)
  • #140,383
  • Mar 12, 2017 5:24am Mar 12, 2017 5:24am
Quoting florinellz
{quote} Hi Alex the 113.5 is a PPZ also you have a ret fibo there {image} @hendzwoter you can try, but i think you should first learn to trade with triger( PA bar- outside bar, pin bar)
I see florinellz.
RIP RTM
  • #140,384
  • Mar 12, 2017 7:19am Mar 12, 2017 7:19am
USD/JPY
At the level of 115.20 there was a pin bar, can try selling with take profit at the level of 113.60.
Attached Image (click to enlarge)
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  • #140,385
  • Mar 12, 2017 8:55am Mar 12, 2017 8:55am
Quoting Alex80
USD/JPY At the level of 115.20 there was a pin bar, can try selling with take profit at the level of 113.60. {image}
It is a bit interesting for me that most traders take counter trend trades. I think price action method is not only one bar formation. We should look at the previous bars, identify long term and then mid term trends...
profitable trading does not mean trading everyday
  • #140,386
  • Mar 12, 2017 9:04am Mar 12, 2017 9:04am
Quoting richadi36
{quote} It is a bit interesting for me that most traders take counter trend trades. I think price action method is not only one bar formation. We should look at the previous bars, identify long term and then mid term trends...
this is very great advice.
Let Market Tell You
  • #140,387
  • Mar 12, 2017 9:09am Mar 12, 2017 9:09am
the upper wick of that candle consist 58 pips.
body around 30pips. this mean a lot buyer up that round number.
Daily tf generally tell us still consolidation mode. Bull push the price momentarily up but closing below the critical area number.
it might fierce fight between bull and bear at that area.
Remember: many attempts already done around that area but failed.
Attached Image (click to enlarge)
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Let Market Tell You
  • #140,388
  • Mar 12, 2017 9:29am Mar 12, 2017 9:29am
From Weekly tf:

all the month happening, the price still contain within one candle..it is Inside Bar price.
Never managed break the price.
But now it is heading up. most probability it will push thoughout the resistance & close above.
Attached Image (click to enlarge)
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Let Market Tell You
  • #140,389
  • Mar 12, 2017 10:18am Mar 12, 2017 10:18am
Hey guys, how about this PB. Entry will be with sell limit from BRN 140.00
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profitable trading does not mean trading everyday
  • #140,390
  • Mar 12, 2017 12:37pm Mar 12, 2017 12:37pm
Quoting richadi36
Hey guys, how about this PB. Entry will be with sell limit from BRN 140.00{image}

Richadi be careful we want to short pinbars at swing high. This pinbar in GBP/JPY is at swing low and don't have space. Watch this video for traffic and space

Inserted Video
  • #140,391
  • Mar 12, 2017 5:11pm Mar 12, 2017 5:11pm
GbpJpy, do u mean the space is distance between upper and lower trendline?

How u manage ur trade when market opening, spread wider, and u must set ur buy limit order?

Checking again on 2 hours after it?
Or just put the trigger on bar high and forget the spread?
RIP RTM
  • #140,392
  • Mar 12, 2017 5:32pm Mar 12, 2017 5:32pm
Is it how it works?
So, 138.145 level can be the first target then set sl above it when it reached?
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RIP RTM
  • #140,393
  • Mar 13, 2017 12:09pm Mar 13, 2017 12:09pm
Quoting hendzwoter
GbpJpy, do u mean the space is distance between upper and lower trendline? How u manage ur trade when market opening, spread wider, and u must set ur buy limit order? Checking again on 2 hours after it? Or just put the trigger on bar high and forget the spread?

Hi Hendzwoter by space i want to say how much is the distance beetwen my entry point and trouble area(where you can close your trade, take partial profit, move you SL.) i don't understand your second question.. . I don't check again after 2 hours. When i put a buy stop i do this: i see the high of the bar and i add a buffer + the spread and this would be my price where i want to enter.
  • #140,394
  • Mar 13, 2017 12:18pm Mar 13, 2017 12:18pm
Thanks Flo.
U ve answered it both. Lol. I mean thats what I ask.
Thanks.

I see on GbpJpy yes now the market tell what you told. It reverse after touch the high of matching top (may be).
RIP RTM
  • #140,395
  • Mar 14, 2017 2:27pm Mar 14, 2017 2:27pm
USD/NOK at 8.75 great area to watch for price action

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  • #140,396
  • Mar 15, 2017 7:30pm Mar 15, 2017 7:30pm
Wow, there r many breakout off of trendline today.
RIP RTM
  • #140,397
  • Mar 16, 2017 12:30pm Mar 16, 2017 12:30pm
WTI
guys, is not it time to buy oil? Good pin bar
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  • #140,398
  • Mar 16, 2017 2:30pm Mar 16, 2017 2:30pm
Hope that you guys catch the BEOB from EUR/AUD

Attached Image (click to enlarge)
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@ Alex80 that is not a pinbar; the high of the pinbar is higher than the high of previous bar.
  • #140,399
  • Edited 3:30pm Mar 16, 2017 3:18pm | Edited 3:30pm
Quoting florinellz
Hope that you guys catch the BEOB from EUR/AUD {image} @ Alex80 that is not a pinbar; the high of the pinbar is higher than the high of previous bar.
I don't think an adjacent candle disqualifies a candle from being a pinbar. Pinbar is just the shape of a bar regardless of where it occurs. As long as: (1) the shadaw is much larger than the body of the candle,(2) body is towards one end,(3) body is small.

Alex's chart looks like a pinbar to me.

***Look @ pinbar drawing below with pinbar being higher than previous bar. This was copy & paste from website.
Attached Image(s) (click to enlarge)
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  • #140,400
  • Mar 16, 2017 6:41pm Mar 16, 2017 6:41pm
Is BRN usefull? Instead of PPZ?
RIP RTM
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