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james16 Chart Thread
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Oct 5, 2010 6:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
From my point of view . if you can understand this chart below . . where Support turns into Resistance once Price breaks through it (and vice versa) and using PA . .either bullish (at Support) or bearish (at Resistance) . . you're ahead of the game. It's a good starting point . .imo
Jim
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Aud/Usd 4 Hour PB, FxPro & IBFX feeds.
Bing . .Bang . . .Boom . .
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Oct 5, 2010 6:55pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jimmynoodles
Really strong SR levels (marked with yellow rectangles) on the daily chart. The 38 fib of the last swing low to high falls right on this strong SR level. Will wait for price to reach this area and look for PA to go long.
Attachment 555698
Attachment 555699
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Nice charts and analysis, jimmy . . . 
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Oct 5, 2010 7:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Jaroo, what do you say about EURCHF BEOB ?
Uptrend is not that strong in relation to EURGBP.
BEOB at swing high
BEOB is broken
Now being retraced
What do you see the as a confluence point ? Between 3380 and 3900 ?
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Not sure why the EURGBP is a factor on the EURCHF.
The conflunce points on the current setup (Daily DBHLC) are the 1.3400 and 1.3500.
I do like xmz's analysis of the 1.3400 as acting as Resistance.
Quote:
Originally Posted by xmzhang
If I may, imho if price manages to close above the BRN @ 13400 and finds support there then there is a pretty good chance price breaking the long term down-TL. If price stays below 13400 and respects this level as resistance then price probably will break the short term up-TL and we could see price revisiting the all time low. For now the up-TL is still holding as seen by the bounce.
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The 1.3300 had acted as strong Resistance (purple), since Price broke through this 1.3300 level, no surprise that it is now acting as strong Support . . .hence, the retracement.
This setup is still very much in play, due to the High of this Daily DBHLC has yet to be breached.
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Last edited by jarroo, Oct 5, 2010 7:41pm
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Oct 5, 2010 7:39pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
G'day Jarroo,
Everybody seems to be looking at the daily BEOB only, what about the 4H-BUOB which engulfs the previous 4 bars ? Price retraced after breaking the BUOB to the high of one of the engulfed bars (the one with the highest high), I was looking for a PA entry on a much lower TF but didn't get a descent PA, FTA would be of course the RNB @ 8700.
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Yes, I believe there was a opportunity there. . .but let's walk through this . . . if you don't mind?
Could you post a Daily chart of the Eur/Gbp and locate the PPZ level . .like mine (green). Its a bit wide. I just want to see how they look on your feed.
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Oct 6, 2010 1:21am
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
The reason I was relating EURGBP with EURCHF is becuase - EURGBP has a strong uptrend.. so the BEOB may not have the strength to undo that strong uptrend.
Where as in the case of EURCHF, it is not the case.. the uptrend is not strong..
Both the pairs seem to have good BEOB/DBHLC'S.
As you said, the PA is still in play since the high is not taken out.
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Oh, I see cprao . .the Eur/Chf is more of a retrace, with the trend-continuation setup . . where the Eur/Gbp is more of a countertrend trade.
Yes, they are still in play since they have not been invalidated. They both have strengths and weaknesses . .definitely ones to follow and see how they turn out.
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Oct 6, 2010 1:37am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Indeed, I would like to see this daily candle form a BEOB Jaroo special off the TL and close below the 50 fibo.
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I would like to see it up by the 1.3500 BRN . .nice locational confluence up there with the fib levels and trendline. 
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Oct 6, 2010 1:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by dmuk
Jarroo,
Thanks for the chart:
http://www.forexfactory.com/showpost...ostcount=76471
I do understand it because there are simply two lines plotted on the chart. However my confusion is lying in the fact that the analysis being performed here seems to involve multiple lines of support and resistance and every BRN.
Also, what about price actions and potential trades outside of this "zone"?
Am I best going back to basics and simply plotting support and resistance and watching for price action at these points?
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The heart of this method is at the PPZone. It's where a PA formation is best supported. Sure, there are setups at extreme swing High or Low points that have no BRNs or PPZ levels to support them. They work on sheer size, space and structure. Like the Nov. 07 PB. And they work very well.
My trading is pretty basic . . PPZ levels . .where Support and Resistance meet.
Yes, I would go back to basics of Support and Restance but watch how once a strong level of Support is broke it turns into Resistance (and vice versa) . . . much like that chart.
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Oct 6, 2010 1:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Like this?
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Yes . . .lol . . 
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Oct 6, 2010 1:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by The Captain
Hey PB,
Could be a good setup, but watch out for the lower TL. You'd be better off going short on a break and retest than going short right on the line.
Cheers
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Support turning into Resistance . . 
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Oct 6, 2010 2:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarro, you just inspired me to look at only one PPZ, the weekly.
Does this not mean that if price reaches the 1.3500 BRN we then have a problem of it breaking the weekly PPZ.
Unless of course it closes below it.
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It is a proven PPZ level at a strong BRN, 1.3500. I can see it acting as strong Resistance . .the chart is what I would like to see . .
But if Price pushes through the 1.3500 I can easily see it acting as strong Support.
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Oct 6, 2010 2:17am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarro, you just inspired me to look at only one PPZ, the weekly.
Does this not mean that if price reaches the 1.3500 BRN we then have a problem of it breaking the weekly PPZ.
Unless of course it closes below it.
EDIT: OK, I see it now, there are actually 2 weekly PPZ close together and the space between them is actually the PPZ.
Now, this rings a Jaroo Bell.
"We like to see PPZ close together"!
Sometimes I fail to see the space between the PPZ and sort of look at hem as individual lines.
I need my eyes to bleed some more, obviously....
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That looks good , Pb . .
BTW . .have you seen the Usd/Cad this week? . . .nice analysis you had on that last week, Pb . . .
Quote:
Originally Posted by Pinbar
Hi, Maarc and welcome to this Great thread.
Yes, you are wrong in as much as PINBAR is not a senior, just an earnest newbie.
I think this area is problematic, in as much as, a weekly bearish PB type bar just closed. It is not a valid bearish PB PA bar but it is a bearish bar by nature of the close. The close is sitting right on the RN. I think the area we are at on the daily with all those lows lining up is a possible flip area in the making. We want to see any bullish PA close above that area on the daily and any bearish PA come off it....
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Last edited by jarroo, Oct 6, 2010 2:28am
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Oct 6, 2010 2:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
ok good.
the hardest part of this is between your ears and losing at your stage is not a bad thing.
i will tell you why.
the only people that ever make it in this business are almost always those that had the following happen to them.
1. they find a solid method. you have. be very very thankful for that. most search years and never do.
2. [b]they lose early on which causes them to refine, simplify and focus on the best possible set ups they can find. most give up because they lose faith in the method. you have 5 years of proof that the...
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I don't know how you did it. . .graph paper, etc . .lol . .wow
You must have some drive in you, my friend.
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Oct 6, 2010 2:31am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yeah, I saw the small PB then the Jarroo special BEOB PB.
They sure do work well. 
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Yes, that was nice . . .but the main point was you saw the strong Support level in that consolidation and when Price broke it and then came back, it will usually act as strong Resistance. We just needed some good bearish PA for confirmation and the trigger. 
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Oct 6, 2010 3:22am
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J16 Senior Member cczar
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Quote:
Originally Posted by tehuringa
I got in on that last night....95500 RN, PPZ, off the trend-line on my feed, with the trend, in space....maybe lacked a little weight compared to the previous bar but everything else added up nicely.
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Nice . . . . 
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Oct 6, 2010 3:38am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I hear you.
Yes, we curse consolidation sometimes, yet I guess it can be utilized to our advantage.
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In time, my friend . .you will cheer consolidation. . . that Cad consolidation was one example.
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Oct 6, 2010 8:10pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, Jarroo, I can see that may well be the case.
Actually, I am just watching this mini consolidation on the EUR/CHF daily BEOB but on H4. Just to see if it will provide any hints.
EDIT: GU seems to be a good example of consolidation with, Resistance polarizing into Support.
This is what the whole thing is about!
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Pretty much what this whole thing is about, Pb.. .well at least the main story . .imo. There can also be more to the story of a given setup.
Just remember . .the C-l-e-a-r-e-r the Res or Sup level of a PPZ the better.
GU looks interesting. I think its got a good shot to the 1.6000.
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Oct 6, 2010 8:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
No need, it looks exactly the same as yours. I only looked at the 4H-TF and I took it of a 4H-PPZ at the swinghigh of 29 september, when price returned to this swinghigh yesterday I expected it now to act as support. BTW peculiar to see that on some currency pairs my feeds looks the same like yours but on others like the Ozzie yesterday they are not, I didn't receive that beautifull PB yesterday on my feed, what a bummer.
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Ok so you saw the Daily PPZ not the 4 hour PPZ, correct?
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Oct 6, 2010 8:44pm
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J16 Senior Member cczar
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Quote:
Originally Posted by slade1986
Pulled the trigger on this one.
Moved to BE and closed 50% after 34.4 pips. Take Profit at the 1.6250 area.
Edit: Broke the 1.63, so closed balance @ +20 pips (1.05% gain)
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Nice one slade . .You got to like those Big PA bars . . 
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Oct 6, 2010 8:55pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jdl
Thanks for the kind words. I don't try anything fancy, I just follow the basic J16 precepts. The times I have strayed from the proven methods are usually the times I had losses.
I am a chicken trader. I open 1 trade and move to breakeven quickly, usually at ~ +30 pips. I take half profit at FTA and I exit quickly if things start to turn against me. So I tend to miss the good runners but my win rate is high. I'm really trying to let my winners run because I know that is the right MM strategy, but it's fighting against my nature!
I put the SL...
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Chicken trader . .lol . . .I call you a smart trader . . 
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Oct 6, 2010 9:04pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
auus is approaching it's all time high achieved in July 2008.
What sort of reaction will we get?
anyone confident enough for a short touch trade at the peak?
Or would it be better to wait for PA?
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PA all the way.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 6, 2010 9:15pm
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J16 Senior Member cczar
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Quote:
Originally Posted by slade1986
Thanks Jarroo, look at it now though.... May have to work on my management. 
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Yeah . .its dropping like a rock.
You managed that one very well. I wouldn't change your management at all.
Maybe give more leeway on your 2nd half, leaving it at break even or trailing highs on a lower time frame like the 4 hour (got that from Ace, where ever he is), but that's it.
Good job. 
__________________
Indicators show the past. Price Action "Indicates" the future.
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Oct 6, 2010 9:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Majestic12
Hi everyone
Entered this today. Stop at BE. I'm wondering whether to take profit or hang on to it and see what happens when the aussie news hits tonight - whats the j16 take on this. Interested to hear anyones thoughts and what experienced traders normally do in this situation when big news is coming.
Thanks.
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As long as you're making adjustments when your targets are hit (or even before their hit), meaning protecting yourself from a loss; moving to breakeven, taking some off the table, trailing your stops with targets, etc . . .who cares about the news.
Nice trade .. 
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 6, 2010 9:53pm
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Oct 6, 2010 10:29pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
And EURGBP BEOB is invalidated since the price moved ahead.
EURCHF is still on play.. struggling between 1.33 and 1.34 for a direction.
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Yes, the Eur/Gbp BEOB is invalidated now. I rated that setup high quality, even for a countertrend trade. Waiting for the break and a good 10 pip buffer keep you out of that trade. It sure tell me that the uptrend is strong.
The Eur/Chf BEOB could not breakthrough the strong Resistance level of the 1.3300 PPZ, purple. It is currently caught between the 1.3300 and 134.00 PPZ level.
Here is what I would like to see on the Eur/Chf. (Chart)
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Oct 6, 2010 10:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jdl
I used to enter on the break of the bar, period. But jarroo opened my eyes to the idea that often price retraces back to some key level, THEN heads back in the direction you want. Then all of the great postings by xmzhang showed me how effective it is to drill down to a lower timeframe to look for price action that signals a good entry point.
Yesterday's GBP/AUD bearish pin bar shows the power of both of these ideas together. I saw price retracing UP on the daily chart. Where would it likely retrace to? Well there were some previous bar highs...
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Very nice jdl.
Just something else to look at on the Hourly, jdl. . . not to take away anything from your great post.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 6, 2010 11:10pm
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Oct 6, 2010 10:57pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
this was in houston the night after i saw the same show in dallas.
1977. i was 16.
you cant go to concerts like this any longer. takes a sec for it to start.
joe walsh and don felder. doesnt get any better for an old classic rock fan.
http://www.youtube.com/watch?v=Hh3_SSZElXg
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You weren't "stoned" by any chance, Jim . .when you saw this concert? lol
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Oct 6, 2010 11:04pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
i was stoned before i got there.

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 I know the feeling . . . I look back at those concert going days and wished I didn't get so blasted . . because it would be the next day and I would have forgotten most of the night and concert. . lol
__________________
Indicators show the past. Price Action "Indicates" the future.
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Oct 6, 2010 11:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
i know but those were some great great times to be a kid.
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No doubt. . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 6, 2010 11:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jdl
If some day I am able look at charts the way you do I'll be one happy guy indeed. 
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You're well on your way, my friend . .more than you know.
Keep at it . . 
__________________
Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 6:20am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Pretty much what this whole thing is about, Pb.. .well at least the main story . .imo. There can also be more to the story of a given setup.
Just remember . .the C-l-e-a-r-e-r the Res or Sup level of a PPZ the better.
GU looks interesting. I think its got a good shot to the 1.6000.
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Resistance turning into Support .. Would it be worth a 25-30 pip s/l at the 1.5860ish? Only you can be the judge of that.
__________________
Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 6:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I have been thinking all day about that chart.
It appears to be the light at the end of the tunnel.
I have to run to the end of the tunnel and not look back.
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To be honest, Pb, that's a tough trade I took. .being at a swing high and in consolidation. But the basic components of a Support and Resistance in a PPZ level as James16 teaches are there.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 6:38am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Sorry Jarroo, I have lost the gist of it.
Which PA did you take?
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See that little baby . .poodle looking. . Mike would laugh his head off, and shake his head . . .4 hour PB? . . that was the one. But there was more to the story . .right?
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 6:45am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I thought that was what you did, I just didn't want to suggest you took that tiny little thing. Like taking candy from a baby, that one is. LOL
I can see the entry though.
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Quote:
Originally Posted by billm
I took it  .. cos I had a great teacher 
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Its a tough trade . . no question about it . . .don't tell Mike .. .lol
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Oct 7, 2010 6:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I can see what you are getting at Jarroo.
I have all day been eyeballing the charts without any lines on them, trying to train my eye to see the PPZ.
I think a Jarrooooooooooooooo video on this subject would be GREAT! 
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Check out that blue box Pb . . they're all over the place.
Video? . .maybe.
gotta go
Later,
Jim
__________________
Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 8:16pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Check out that blue box Pb . . they're all over the place.
Video? . .maybe.
gotta go
Later,
Jim
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Hey Pb . . No surprise what happen here at the 1.4025-30.
I had the previous PPZ at 1.4035 but I fined tuned it a bit to better reflect the PPZ level. . .Sup-1.4029; Res-1.4026 . .but then again these are zones.
Tough to knock down a door (PPZ level) after running for 1000+ pips, I would be exhausted too.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 8:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
I looked only at the 4H-PPZ @ the 8640-ish, please look at the attachement for a more visual explanation.
May the force be with you.
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I guess we look at it differently . .you call it a 4 hour PPZ level . .I call it a Daily PPZ level as seen on the 4 Hour. That's if we're looking at the same level.
Just to continue . .on the Daily, the .8650 is the mid-point of the PP Zone. The blue lines represent a Support Level and a Resistance Level. The green area in the zone of the PPZ. (Daily chart) We would like these blue lines closer together.
The 4 Hour opportunity came when a BUOB was present and broke through this zone or level. Returning Price to act as Support at this level or zone.
A retracement entry was there at different levels off the BUOB with protection.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 8:52pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo, yeah that was some bullish rally on EU.
Any chance you can alleviate a little more on the blue box, hanging in space bars. I am seeing them all over the place after you mentioned them.
They appear to straddle the PPZ, then the next bar often tests the top or bottom of them before showing us some PA.
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Did you mean "elaborate a little more . . " . . just kidding.
I would say that they are the structure of a PPZ level.
Meaning . . Support level . .Price breaks through . .turns into Resistance . .(and vice versa), are what make up the PPZ level. Be it three bars or 100 bars.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 8:58pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mr Smith
Luv your charts jaroo!, I'm starting to practise your retrace style.
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Hey Mr. Smith.
These retracements are good for entries for sure . .but they are also good to observe before the actual break of the PA setup. To me, it shows Price acting correctly . .that's just me to think that way . . lol
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 9:11pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Here is one for OD, maybe this will set him on a deeper path but if not I am sure someone else will learn
A good place to start for those of you that are new are understanding everything is NOT created equal that we must spend a lot of time understanding the tendencies of different situations and bars(that make sense to you, remember a bar I like may not be a bar you like but if you have tested your concept then I am all for it).
Here is a simple chart I pulled up 4 pinbars within a short period b/c they give us 4 great examples
1. Bar 1....
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Great post Mike .. well done sir .. 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 9:19pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, I just got up, caught up with the thread and am on my second coffee, still half asleep.
Yes, too often I think of the PPZ incorrectly as a line, perhaps thinking of them more like a pencil with the thick body and thin lead, is more appropriate.
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Excellent Pb . .great example . . 
__________________
Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 10:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Majestic12
Hi everyone
Entered this today. Stop at BE. I'm wondering whether to take profit or hang on to it and see what happens when the aussie news hits tonight - whats the j16 take on this. Interested to hear anyones thoughts and what experienced traders normally do in this situation when big news is coming.
Thanks.
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Quote:
Originally Posted by Majestic12
Thanks jarroo, just read your reply to. i agree with you but somehow i still ended up with a small loss here. i'm thinking i should have taken some off the table to avoid that potential scenario. Was this just a case of oanda and their news spreads?
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Majestic ? . . I thought you moved to B/E?? . . Dude??
I don't know about oanda and their news spread.
Respect those targets . . .they are areas where we don't know what Price will do when they get there. What we do know . . is that there will be a reaction when Price gets there . .we have to be prepared for that.
Being up 40-50+ pips and then ending the trade at break even or small loss . . I've been there . .and sometimes I still revisit there . .lol . . .Respecting those targets will change that my friend. 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 7, 2010 10:34pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
I want to share a demotrade which i took today on the G-U, everything I've learned so fare from this excellent thread (and all the senior members, Jarroo, Mike) made it possible for me to manage this trade nearly to perfection. Now for the trade; I saw on the 4H-TF this beautifull big PB off the BRN @ 16000, the only thing I didn't like was that it closed near a daily PPZ @ 15935-ish and of course the RNB @ 15900. In that case I would like to look for a better entrypoint rather than entering straight after the break of the PB (with a small buffer)....
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Nice trade xmz...
I couldn't resist . .(Chart) . . . 
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Oct 7, 2010 11:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Hey Zhang, correct me if I am wrong but based on your H4 and M15 charts, it looks like your 15m TF PB is formed while the 4H PB is still forming.
Your chart shows that after 4H PB is formed, price never reaches the 15955-ish level that you claimed to be a 4H-PPZ.
I would have thought that one would only look for PA down lower TF AFTER the signal on the higher TF is identified. In this case the 15m PB is observed within the 4H PB.
Is this acceptable by the seniors within J16 circle?
CY
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Quote:
Originally Posted by ertorque
Hi Jaroo, I just asked Zhang a few posts back regarding his chart.
On his chart, there is no more retracement after the completion of the 4H PB unlike your chart.
Would you be so kind to confirm that I am right?
CY
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Hey CY
The 15min PB did form after the 4 hour PB was formed at that retracement level.
I know it did on this meta trader 5 feed and I'm sure it did on xmz's feed as well.
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Oct 7, 2010 11:23pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
Mike and Jim 
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I must confess . . . .
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Oct 7, 2010 11:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
I must confess . . . .
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Isn't not me . .. lolol . .  . . I've always been Jarroo . . .
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Oct 7, 2010 11:27pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
I knew it.
You gave the game away when you tried to sell me that fibbonacci system ebook
*watches the flood of 'can you download me ebook system plz' PMs roll in*
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 easiest $99 I ever made . .lol
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Oct 7, 2010 11:44pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ertorque
Thanks! I knew it did on your chart but not on Zhang's.
Look at the chart he posted. Price never touched the 15955 after the PB.
Yes maybe he has another feed upon which he based his moves (and not on the chart he posted).
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Look a little closer . .its there . .it did form after the 4 hour PB.
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Oct 7, 2010 11:48pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Look a little closer . .its there . .it did form after the 4 hour PB.
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Wait a minute . .that is weird . .it showed up on the 15 but not the 4 hour . . .bad feed in my book. . .but it did form after the 4 Hour PB.
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Oct 8, 2010 12:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by melvin87
Hey guys,
Was looking at the NZDUSD pin and would appreciate some comments on my thought process.
-Nose could be longer
-Pin got rejected off 0.7550 + ppz but not the 0.76 which would have been preferred personally
- Closed weakly below 0.75
- Some space to run till 0.74
Not the best of pins to trade but good for a quick profit. Wanted to wait for a test of 0.75 for bearish PA before entering instead of just entering on pure break of the pin.
Any comments?
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Not too bad, mel . . but its got some traffic infront of it. I believe you're right on the weak close of the .7500 . . more of a neutral looking bar.
Stronger confirmation below the .7500 would be telling.
Yes . . a chart would help . .(thx sChoas) 
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Last edited by jarroo, Oct 8, 2010 1:15am
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Oct 8, 2010 1:23am
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J16 Senior Member cczar
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Quote:
Originally Posted by melvin87
LOL sorry i saved the chart but forgot to upload it. Its almost the same as jarroo except I didnt really mark out the immediate traffic right below the break of that pin. I thought it would be of some minor obstruction but still expected price to move to a 'stronger' ppz at 0.74.
No bearish PA as of now at 0.75 to confirm the downward move though.
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This may be true mel .. Price may cut through it all to the .7400. . . but the purple area, at the .7455 is a PPZ level . .it is not minor.
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Oct 8, 2010 6:05pm
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J16 Senior Member cczar
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Quote:
Originally Posted by melvin87
Ahh okok. The reason I considered it minor was because there were only a couple of bars that got rejected off it as compared to the 0.74. But i'll definitely keep a look out for areas like this next time and mark them off. Thanks again jarroo!
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The reason I didn't considered it minor was that it was a clear Support turning into Resistance level, better known as a PPZ level. And I do agree, that Price will head for these stronger levels, just to retest them, like the .7400 (clear strong Resistance level of a PPZ . It sure looked like it was going to. . .lol
Here's an example (Weekly BEOB, Nzd/Usd, July 07) of a minor FTA, in green. Although this was a minor FTA (in my book) it still had a strong reaction, as seen on the Daily.
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Last edited by jarroo, Oct 9, 2010 2:23am
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Oct 8, 2010 6:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by LiuLangZe
One question here, if we were to sell at the break of the pin, we will be trading right into PPZ, so no trade here. Having said that, will we have to wait for break of pin to confirm if the pin is not a false one? Just one question in mind...
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Yes, a PB needs to break to qualify as a PB. So when we see a PB that hasn't broken yet we are really looking at a potential PB, until it breaks. . . although this one looks bit a more like a neutral bar to me.
If I understand your question correctly . . ?
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Oct 8, 2010 6:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Majestic12
Hey jarroo, don't worry i was at break even. the spread just widened and price move so fast i lost a couple of pips from slippage i presume. however i miss calculated and it wasn't as bad as i thought. Cheers.
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Cool Majestic . . . 
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Oct 8, 2010 6:39pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Jarroo my friend, the 15m-PB closes exactly at the same time as the 4H-PB namely @ 16:00 (GMT+1). In this very very special case we see the lower TF PB closing at exactly the same time as the higher TF PB and this lower TF PB is at the same time the one bar pullback to the 4H-PPZ will is also confirmed at 16:00. So the setup and the entry take place at exactly the same moment. Normally the pullback takes a couple of lower TF bars after the higher TF price pattern has closed, so did I take a nice trade-example or not, Jarroo. This should be a nice...
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OOhh I see, xmz. Sorry about that, I got the right feed now. . The Low of the 4 hour PB did occurr before the 15min PB.
Very crafty, xmz . . 
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Oct 8, 2010 7:02pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Yes I think you're description would be a more appropiate one. The problem with me is, I like these PPZ's to be exactly one clear line without this uncertainty zone around it. Due to my occupation I like to be exact, there is no or very little room for uncertainty. But I quess the forex market system isn't the same as a electronic control system, lol. Thanx again for your clarification, Jarroo, i've just added somewhat more information to my datasystem.
May the force be with you.
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I agree with you there . . .Clear obvious levels of Support and/or Resistance . .Clear obvious PPZ levels . . .that's why I mention that we wanted those blue lines closer together. .Clear big PA . . etc.
I'll tell you a big secert about trading and keeping things clear and simple . . .  . . its the only thing that works . . 
Jim
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 8, 2010 7:19pm
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Oct 9, 2010 7:01pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Yes, the Eur/Gbp BEOB is invalidated now. I rated that setup high quality, even for a countertrend trade. Waiting for the break and a good 10 pip buffer kept you out of that trade. It sure tell me that the uptrend is strong.
The Eur/Chf BEOB could not breakthrough the strong Resistance level of the 1.3300 PPZ, purple. It is currently caught between the 1.3300 and 134.00 PPZ level.
Here is what I would like to see on the Eur/Chf. (Chart)
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Followup on this post on the Eur/Chf. Looking for the 1.3400 to act as strong Support to the 1.3500. It has a bit of minor traffic to contend with.
Looks better on the 8 Hour chart (PB).
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Last edited by jarroo, Oct 9, 2010 7:32pm
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Oct 9, 2010 7:21pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ppfx
Awesome touch.  A true Rac specialty. I bet he took it.
It went exactly where it needed to go. Now up again? Or will hold the daily downtrend? Will see. (probably it will go down... you know higher timeframes rule + there is Rac special ingredient-the 61.8%  )
We have a similar situation on the EU, only that the flow is kinda stronger (a lot of big bullish weekly bars on the weekly since 1.27). Imho it will go to the blue line i marked on the chart. At least for now it seems like it has a nice momentum.
I was absent from...
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I do tend to ramble on ppfx .. lol
Price has definetly been entering into some confluenced levels on the Eur/Chf. .PPZ, 1.3500 BRN, 61.8 fib.
Although these levels do not appear to have any affect on the current uptrend, . .Higher highs . .Higher Lows . . will shall see. 
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 9, 2010 8:33pm
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Oct 9, 2010 7:43pm
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J16 Senior Member cczar
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Quote:
Originally Posted by bluetrader
Hey mister, what's up.
I can't locate it now, but Jim mentions this in some of his posts. It refers to the size of the bar relative to the surrounding bars. Size can dictate momentum and strength of a potential reversal, see attached.
Hope this helps,
-- Danny
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Great examples blue . .here's another one. . .
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Oct 9, 2010 8:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Hey Jaroo,
When you started to get interested in the Forex Market, did you visit any other resources, other than the James thread, that have made important contributions to your trading skills and knowledge ? I have been looking around for additional resources, there's one professional trader/hedge fund manager called Chris Lori who seems to get only positieve reviews about him as a trader and educator. He also uses pure price action in collaboration with standard technical analysis (S/R lines, TL's, technical patterns) and candle patterns. Have...
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I've read some of Martin Pring's books . .on Price Patterens and TA. Market Wizards by Jack Swager and looked into the traders there in.
But mainly the guys in here . .James16, Mike, the Wizard, SeekingLight, Bemac, Raczekfx, Bundyraider . .where the heck has bundy been? I miss him. . . and many others that I have watched and learned from.
Chris Lori? I'll check him out.
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 9, 2010 8:31pm
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Oct 10, 2010 3:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
My Views:
If I look at PB on its own, it does not stand out. However if I look at this in relation to big BUOB (Technically not a BUOB but a big bullish bar) of 09/15, it does make lot of sense to me.
As Jarroo always says- BUOB/BEOB's retrace before it moves in the direction of the PA. Here the PB at 130 looks like supporting the big BUOB.
Jarroo, would like to hear your thoughts ..
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The 2 Day chart shows it as a BUOB that broke . . a good sign, meaning the BUOB is validated. Even if it wasn't validated, by not breaking, a retracement entry is still viable as long as it is well supported.
The general retracement level is the previous bar High with BUOBs (previous bar Low with BEOBs). . .
But if there is other levels witnin the Outside Bar that look strong, like a PPZ level and/or BRN with other confluence (Fib levels, 50% Ret., Divergence), strong proven Support (BUOB), strong proven Resistance (BEOB) then these levels can also be considered as retracement levels. (blue arrows)
Now, Price has retraced to the general rule, previous bar High, which is also a BRN-PPZ level with 61.8 fib. . .130.00 and reacted accordingly, (bigger blue arrow). . . .nice!
Now to the question . . is there an opportunity to take a break of this 2 Day PB? (which looks that same as the Daily PB, IBFX feed).
The size could be bigger . . its more pooble than pitbull, so continued downward retracement is still possible maybe even to retest the 130.00. Lack of Space or traffic infront is tight.
All in all . . .I do like the story of this one, cprao . . 
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 10, 2010 4:32am
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Oct 10, 2010 3:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
AUD/JPY looks very interesting also.
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I like your top Bing, Bang, Boom but I would have the bottom like this. . .
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Oct 10, 2010 4:22am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yes, on a second look at it, I see your point Jarroo.
So, this is one of the giant PPZ you mentioned a while back, between the 61.8 & 50, with the 81 RN as the pencil lead.
Thanks Jarroo
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Yes, I remember that Pb, I see the darken pencil on your chart and its very much in play here. I lot of activity at this level, ergo the consolidation. We'll let PA show us the way and that consolidation, I believe, will play an important part of that story . . 
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Oct 10, 2010 4:58am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo, let's see what the PA shows us.
I Opened an IBFX demo account for the daily.
Now, I am going to learn to use all of what you so graciously taught me, in real time, with no fear, no greed and no ego.
This is funny.
I was just playing billiards with a guy in Texas.
He asked me what Japan was like, we got chatting about Japan and I told him how there are no religious hangups and stuff, but the men are pretty perverted, He asked me in what way and I told him about the latest fad here in Japan of men wearing women's bras. He freaked...
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lol . . .thoses crazy asians . . I've seen some of their game shows too . . lol
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Oct 10, 2010 5:15am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yeah, it is crazy.
But at least, they do not resort to violence and let people be.
The guy I just mentioned was like, "Hey, if we saw them in Texas, we would kick their ass". I mean, if a guy wants to wear a bra, it is his sick business and kicking his ass, isn't going to change anything. Might like it even. LOL
Looks like EU might be in a similar situation as GU.
EDIT: Bigger range though.
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GU is at a interesting level, to say the least. Bearish PA at the 1.6000 would be well supported.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 10, 2010 8:31pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ppfx
did you teach your dog to spot pinbars? does he barks when he sees one? 
im sorry i couldnt resist.
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lol . . .yeah, you can see he starts flexing and getting pumped when he sees another one . .lol
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Oct 10, 2010 8:35pm
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
I'd second that.
He runs an amazingly simple system based on 2 widely used sources of confluence (PPZs and trend lines).
I was looking at this the other day, and it reminded me of Ace's charts. I hope he'll drop by soon.
g.
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That's a beauty g . . . throw in a 50% retace to add more confluence to that area of interest. A Rac-man classic . . Kaboom . . 
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Oct 10, 2010 8:54pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Jarroo, Thank you very much for sharing your thoughts. When you say "previous bar High/Low", you would be referring to the immediate previous bar high/low's , right ?
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Yes, the immediate previous bar High (BUOB), previous bar Low (BEOB) . .generally.
It comes from the simple premise that once Price breaks through a given Resistance level it will then act as Support . (and vice versa)
. .be it a mutli bar pattern like a Outside Bar (ex . Aud/Usd Daily BUOB, July 2010)
or a series of bars like a PPZ level like the current Nzd/Jpy on the weekly.
Interesting PB on the Daily Nzd/Jpy and where it currently retraced to . . don't you think??  
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Indicators show the past. Price Action "Indicates" the future.
Last edited by jarroo, Oct 10, 2010 9:07pm
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Oct 10, 2010 9:03pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Followup on this post on the Eur/Chf. Looking for the 1.3400 to act as strong Support to the 1.3500. It has a bit of minor traffic to contend with.
Looks better on the 8 Hour chart (PB).
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Why can't I on trade on the weekends . .  . . .lol
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Oct 10, 2010 9:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Osman
EUR/CHF
38.2% of the previous swing
61.8% of last down wave,
Above we?ve got 1.35 BRN
Divergence
Comments are welcomed.
Thx
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Quote:
Originally Posted by jarroo
I do tend to ramble on ppfx .. lol
Price has definetly been entering into some confluenced levels on the Eur/Chf. .PPZ, 1.3500 BRN, 61.8 fib.
Although these levels do not appear to have any affect on the current uptrend, . .Higher highs . .Higher Lows . . will shall see. 
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I agree, the 1.3500 is a strong level by the confluences you gave, Osman.
Strong bearish PA at this level would be well support.
I agree with joel on the volume indicator. . I'd get rid of it.
Good afternoon . . . BTW . . Joel . . 
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Oct 10, 2010 9:24pm
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J16 Senior Member cczar
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Yeah . .I see it too ghous.
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Oct 10, 2010 9:38pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Makes lot of sense .. like every bar acts as simple resistance and support..
as there more bars meet at one place.. more resistance & support. and then PPZ and round numbers to reverse the direction of the trade..
GBPJPY- formed another PB at 130.00.. Moved all the below 130 and closed almost close to 131.00, indicating the strength of 130.00 and previous gaint bullish bar.
Does it makes sense to go long at 131 and SL as 130.00 ? FTA's are not clear as I see a bar at every 15 pips.
NZDJPY- I see PB on IBFX.. I expect that to retrace back...
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It my be true that every bar acts to Support and Resistance on some level. . but we like the very clear, obvious, crisp, confluenced levels to base this simple premise on.
A long above the 131.00 would make sense and the s/l below the 130.00 would be well protected, meaning price would have to break through again the 131 and 130 Support levels.
But you have to give wieght to the size of that PB . .is pretty small so you have to take everything into consideration.
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Oct 10, 2010 9:41pm
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J16 Senior Member cczar
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Quote:
Originally Posted by roundrock
nice location and nice shape, close above RN 82. FTA at 82.57
any comments ?
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The PB is pretty small to counter that big move down. I would wait for bigger Bullish PA to go long on the JPY.
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Oct 10, 2010 10:21pm
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J16 Senior Member cczar
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Quote:
Originally Posted by joelcf
Hey buddy, hows things?
You know you have a procrastination problem when you decide to mark up 200 stock charts instead of doing your work. Stupid Mondays.
Attachment 558728
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lol . .. nice . .  
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Oct 10, 2010 10:34pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Thank you Jarroo. In fact, today's 4 hour PB looks really strong in relative to Friday's daily PB.
Thank you for all the education..
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It could happen . . . the premise is set up again. . .
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Indicators show the past. Price Action "Indicates" the future.
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Oct 11, 2010 5:10am
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Quote:
Originally Posted by hpagan
This is my first post....I'm new to all of this and wanted to pick someones brains on a pinbar finding on a Daily Chart. Please forgive my ignorance if I didn't pick up the reason for my question. I see the pinbar was set and the trend was forming short but why didn't it continue? Also, I want to thank all who contributes in this forum and especially in this one. The knowledge base sharing here is unlike anywhere else. Attachment 558743
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Quote:
Originally Posted by supremeChaos
Welcome hpagan,
im not sure which pinbar u are referring to?
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I also welcome you, hpagan and I'm not sure which PB you are referring.
Can you specify more clearly?
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Indicators show the past. Price Action "Indicates" the future.
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Oct 11, 2010 5:29am
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J16 Senior Member cczar
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Quote:
Originally Posted by Almfx
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Hey Alm . .long time no see. . . how's it going.
That Usd/Jpy is sure looking for a bottom . .probably the 80.00 . .who knows??
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Indicators show the past. Price Action "Indicates" the future.
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Oct 11, 2010 7:36pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Another nice PB with the trend (more like a indecision bar) off a daily PPZ/RNB/Fib @ 13100, entry on a much lower TF on the pullback of the PB. FTA @ 13055-ish, aiming for the 13000-ish.
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Hey xmz . your charts are looking good . .you're coming along very nicely with James16's way of understanding Price Action. Well done sir .
Just to add to the G-J Hourly, its good to zoom out a bit to get a better look at the story unfolding.
To bad the BEOB on the Hourly, (it was a small PB on your feed), happened late on Friday.
The indecision bar off Resistance . . not too bad . . but clearer bearish PA sure makes it easier. .  . . .nice trade.
Jim
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Oct 11, 2010 7:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Almfx
Hey jarroo! Yeah I was out of Bangkok on work, so was not trading for a long time.
probably 80.00 BRN could be the bottom, but this pb looks good for some quick pips, deosn't it ??
and the double pb on GJ..
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Welcome back Alm.
". . one night in Bangkok and the world's your oyster . . "
Holiday is over . .let's see what happens today . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 11, 2010 8:02pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Morning folks.
Anyone notice a severe lack of data on some IBFX charts.
This is CAD/JPY Daily on IBFX, the left of the screen is the start of the data from 2009.
Makes it really hard to find the flip levels.
Black chart is FXDD with at least 3 more years of data than IBFX, still a bit thin.
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I don't know why Pb, . . FxPro goes back to 1990 . .
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Oct 11, 2010 9:27pm
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J16 Senior Member cczar
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Anyone like this Weekly PB on the Eur/Aud?
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Oct 11, 2010 9:47pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
NZD/USD nice DBHLC, broke the monthly pivot and the daily pivot and BRN seem to be acting as resistance.
Don't like the size of this DBHLC as compared to the bars in the uptrend, though.
And, it is trading right into the weekly pivot.
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Quote:
Originally Posted by 666Doom
I'm not that good as you sir Pinbar and Mike,James and Jarroo.
But i think that DBHLC on nzd/usd is not that good.
My chart it is bumping in down there i think we might have PA on small time frame to go long in fact.
Regards
Taz
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I would not but much faith in the Sunday bar as part of the DBHLC formation. With all PA formations, we like to have a full day of trading data, the Sunday bar is incomplete of trading data.
I like your take on the possible long Taz .. looking at the Weekly, we see that Price has broken through recent Highs and may find new Support as it retraces. . .where bullish PA would be nice.
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Oct 11, 2010 9:53pm
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J16 Senior Member cczar
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Quote:
Originally Posted by LiuLangZe
I caught that one Jarroo, entered @ break of pin. SL somewhere above BRN 1.4. I sure like this one.
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SL somewhere above BRN 1.4. ???
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Oct 11, 2010 10:01pm
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J16 Senior Member cczar
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Quote:
Originally Posted by 666Doom
Jarroo sir,i think the next week candle us bumpin into 23.6 fib ret of one swing high/low.
So at best i would wit for an outside bar or something for a close below that fib ret.
It is my take, but u r more experienced sir.
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I like fibs levels when they line up with (or are confluenced with) a PPZ level, Sup/Res level or BRN. With a PB, the left eye is generally a retracement level.
Do you see any alignments with your fib levels with these other levels?
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Oct 11, 2010 10:13pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
I did like it.. But the SL has to be too wide. Also there is a PB on daily also.
Hence I am looking for retracement. In fact the pin was broken today.
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I like your retracement levels, cprao. That pinnish looking BEOB on the Daily looks telling even though it didn't have a strong close below the 1.4100 PPZ level.
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Oct 11, 2010 10:20pm
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J16 Senior Member cczar
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Quote:
Originally Posted by LiuLangZe
Oopps.. I meant TP. sorry for the typo, Btw Jim, what do you think of the pin on USD JPY daily? am currently outside so unable to post my chart. One of the forumer voiced out the concern on bank holidays so PA ytd might be pretty unreliable. Any views?
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I would agree with that. Holiday bars are much like Sunday bars, incomplete trading data on the full market hours.
Daily PB on the Usd/Jpy is still a bit too small, tight trade mangement required if taken.
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Last edited by jarroo, Oct 11, 2010 10:58pm
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Oct 11, 2010 10:28pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
That FTA was to close so it was a pass for me ...but price hit its' target
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Yes . . .that PB is sitting right on that 1.4100 PPZ level.
I would like to price break through that 1.4100 and then act as Resistance. The PB maybe telling us that it just might do that. . we shall see. 
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Oct 11, 2010 10:43pm
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J16 Senior Member cczar
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Quote:
Originally Posted by 666Doom
Hello again Sir,
Here is my chart,i think we must wait for a two bar reveral formation on 1.4200.
Wait i just saw a 1.4162 is a 38.2 weekly swing.
But i still believe we must wait for retrace at 1.4200.
What do u say sir.
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One way to look at fib retracements of a PA setup is by a Fib Ret. of the formation itself. (Weekly chart).
On the Daily, the 38.2 lines up with the left eye . .the 1.4200. Also the 1.4200 is the bottom of this previous consoldation area. . .I like that too.
So bearish PA on the Daily or say the 4 hour would be well supported at the 1.4200 with the Weekly PB confluence.
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Oct 11, 2010 10:51pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Yeah . .I see it too ghous.
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The Weekly IPB is working out nicely . .Ghous.
I know the High of the IPB is near, not at . . the 1.3500. . .picky, picky, picky.
Looks like if we can get passed that previous bar High (yellow) its got a good chance to hit its target.
Higher time frames rule.
Jim
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Oct 12, 2010 1:10am
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J16 Senior Member cczar
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Quote:
Originally Posted by fap103
I may have missed somthing but in order to qualify as a pin bar doesnt the close have to be within the range of the previous bar? I dont see that in this chart where you have the arrow pointing to. Again, I may have just missed it.
Thanks.
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He is referring to the Weekly PB on the Daily time frame.
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Oct 12, 2010 1:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
These 2 doing a pretty ok job so far as well.
g.
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Nice . .g.
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Oct 12, 2010 1:32am
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J16 Senior Member cczar
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Something to watch on the Gbp/Aud. The 1.6250ish level to act as Resistance from previous Support since Price broke through it. A barrier of ghous' IPB to reach its target.
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Oct 12, 2010 2:55am
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J16 Senior Member cczar
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Quote:
Originally Posted by adrazz
Hi Guys
I am thinking about joining the James 16 membership. Is there still plenty of action going on over there?
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Sure . . I lot a videos and webinars.
Have you checked out the Guest material? . . .
http://www.james16group.us/Guests/guestmaterial.html
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Oct 12, 2010 3:26am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo
A quick PPZ question.
I feel one of these weekly RED PPZ is somehow redundant on the weekly chart, however, I can't work out which.
Maybe they are both necessary but, they are very close together.
EDIT: Here is the daily chart, maybe the B PPZ should be a daily PPZ?
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I think they both look great as independent levels, Pb ..
. . on the Daily too.
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Oct 12, 2010 3:32am
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J16 Senior Member cczar
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Quote:
Originally Posted by supremeChaos
many thanks for sharing this alert EA
FXPro live has some timeframes (like the Monthly TF) go back to Dec.1987, in fact.
FXPro demo might have less or equal to this data amount.
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Thanks sChaos.
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Oct 12, 2010 3:36am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Thanks Jarroo, trying to keep it simple.
But do you think one should be a daily level instead of a weekly one?
Maybe I should drop the color codes?
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Color codes are good . .indicating a Weekly or Daily level. . especaily if you're using them on a lower time frame, like the 4 hour. I'm thinking of doing the same.
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Oct 12, 2010 3:41am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Something to watch on the Gbp/Aud. The 1.6250ish level to act as Resistance from previous Support since Price broke through it. A barrier of ghous' IPB to reach its target.
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No surprise here, right gang? . . 
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Oct 12, 2010 3:45am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Right Jarroo, I will continue with the color codes.
Look forward to seeing yours, it will make your charts more easily understandable by us, I feel.
Thanks
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Well usualy my PPZ levels that I do put on my charts are from the Weekly and Daily . . .but I could code them.
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Oct 12, 2010 3:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by PrincoPrinco
Hey jarroo.
I take you didn't trade it. Did the bullish gap kept you away? or 1,35 level?
Thnx PP
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You're right, I didn't take it. It was the 1.3500 not the gap. If the High of the IPB would have pierced the 1.3500, the story or structure of the IPB would have been more complete . .if you know what I mean.
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Oct 12, 2010 4:17am
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J16 Senior Member cczar
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Quote:
Originally Posted by billm
are there any links I can read up on IPB's, setup criteria, entrty, targets etc
thanks
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Here's a good start . . .
http://www.forexfactory.com/showpost...ostcount=52647
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Oct 12, 2010 11:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Almfx
Thats right !! PA looking to form on important level
But still got 1hr for the close of this bar (on my feed)
It looks like it can form BEOB or IPB
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Some feeds had both Alm . . 
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Oct 12, 2010 11:49pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
It could happen . . . the premise is set up again. . .
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Something to watch . .
I forgot to give the other side of the equation . . Support turning into Resistance . .
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Oct 12, 2010 11:57pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Just can't get enough of those 1H-PB's. On the cable a nicely shaped PB of the daily PPZ/RNB @ 15900.
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That's a BEOB not a PB, it just looks like a pinbar . . on the 1H.
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Last edited by jarroo, Oct 13, 2010 12:08am
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Oct 13, 2010 12:13am
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J16 Senior Member cczar
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C-H-I-L-E!!! 
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Oct 13, 2010 12:17am
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J16 Senior Member cczar
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Quote:
Originally Posted by Trader51
Hello traders, i am learning price action with james16 setups.please guide me. I got stopped out in gbp/usd ,eur/usd.
Yes there was traffic and resistances upwards .but please seniors explain me.was the pivot support zone CORRECT.
Thank you!!!
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Welcome Trader51,
I don't know how much you have read from the 1 post and the links there, but continue reading.
Quote:
Originally Posted by spookie94
Not a senoir but looks like not much room to work on either chart. I would have said the purple dash just above your pin on the E/U would have showed some minor Resistance. On a 1H that might be all it needs. Your zone on the other chart looks valid. When in doubt try going up a TF to get a better look for S/R levels. What would have kept me out of both is the traffic.
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Quote:
Originally Posted by supremeChaos
your PPZs look good
Great reply by Sir spookie94.
eurusd:
-the pin was too small in the context of the current downmove (at that time)
-u disregarded the minor flip area (1.3880, purple line). it could've been your FTA or area to go to BE.
-alternatively, u could've avoided this trade.
gbpusd:
-it was a TBLHC BUT it was very small & barely broke upwards.
-price is in a lot of traffic
-price is just a few pips below your PPZ. remember James16 This is Critical....
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Good advice guys.
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Oct 13, 2010 12:22am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
WOW...just...wow!
How many of you caught this?
Price did penetrate the low of the IPB but remained within 3 pips beyond the BRN. A logical stop should see through the pull back.
Decent stuff.
g.
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How nice was this g on the Weekly Eur/Chf. . .target hit almost to the pip . . 
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Oct 13, 2010 12:36am
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J16 Senior Member cczar
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Quote:
Originally Posted by KissFan
Couple of charts. I like the location. SL is 112.65. TP is 116.55.
K.I.S.S. 
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Nice one Rog . .  . . .wow.
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Oct 13, 2010 1:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by bluetrader
 Sounds good to me.
Hey Taz, I would first relax; that was a good entry. The worst part is over, you can't lose in this trade. I won't repeat what Albatross said, but I'll give you a different perspective.
Something that has helped me personally with trade management is to have a plan of attack prior to entering the trade. It helps you avoid the situation you're feeling right now. You won't always get it right, but having a plan of attack will relieve the stress of saying "what-if" while you are in the trade. In many...
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Great post Danny . . it should be said more often . .having a plan before you enter a trade. 
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Oct 13, 2010 2:09am
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J16 Senior Member cczar
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Quote:
Originally Posted by uBERpIP
Here is a perfect example of probably getting lucky while 'analyzing' PA and confluence.
I've seen a few posts recently regarding going long on EUR/CAD.
I've been looking at EUR/CAD from maybe a longer time frame perspective.
While it's been in a fairly strong uptrend since bottoming out in June, I was seeing this as a retracement from it's December highs.
Reaching the 50% Fib level, bumping off the 365 EMA and having been rejected by the BRN of 143, I decided to look for a short.
I took the break of the 2 day pin bar off my...
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I don't think you where lucky at all, uBer.
I think your thought process was dead on, right. The bearish PA, 2 Day PB, wasn't too bad . .had a bit of traffic and in a consolidation. But the location was very strong.
Strong, clear PPZ level; 1.4100 . .with confluences; Daily 365 ema, 50% Retracement level (50% is not a fib level) and divergence.
You managed the trade very well . .not sure if you had the 1.4000 as your target, but that was very clear as well. . .BRN and at the bottom of the consolidation. Maybe you wanted to trail it down with Daily Highs, which is fine, just but be aware of obvious targets.
I say well done sir. . . 
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Oct 13, 2010 10:50am
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J16 Senior Member cczar
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Quote:
Originally Posted by uBERpIP
Here is a perfect example of probably getting lucky while 'analyzing' PA and confluence.
I've seen a few posts recently regarding going long on EUR/CAD.
I've been looking at EUR/CAD from maybe a longer time frame perspective.
While it's been in a fairly strong uptrend since bottoming out in June, I was seeing this as a retracement from it's December highs.
Reaching the 50% Fib level, bumping off the 365 EMA and having been rejected by the BRN of 143, I decided to look for a short.
I took the break of the 2 day pin bar off my OANDA...
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Quote:
Originally Posted by jarroo
I don't think you where lucky at all, uBer.
I think your thought process was dead on, right.
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Your analysis seems to be vindicated. uBERpip . .
Once you see this happen over and over and over again, you'll begin to trust it more.
No luck here . .good analysis.
Jim
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Oct 13, 2010 10:53am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Here I am experimenting again with something Jarroo mentioned about "One day, you will learn to love consolidation".
I took the Monthly chart and boxed the main consolidation areas, then put a line above and below them. I also did this on the weekly, then removed all the boxes. Look what we get on the daily.
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Very nice Pb . . .an excellent exercise . . one that I learned from James16 and Mike . . 
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Oct 13, 2010 11:02am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Something to watch . .
I forgot to give the other side of the equation . . Support turning into Resistance . .
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We are not surprised . . .are we?  . . 
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Oct 13, 2010 11:04am
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J16 Senior Member cczar
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Quote:
Originally Posted by squeezy
I believe this is one of Rac's
ppz + 50fib + tl confluence
a smallish looking pin on the 30mins tf
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Absolutely. . .nice .. KaBoom
With some Mike mixed in.
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Oct 13, 2010 11:07am
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Just triggered a sell on the G-J, PB just closed below BRN @ 13000. Confluence via fib (not drawn) and 4H-TL. Entry on lower TF via a PA at pullback.
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Nice one xmz.
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Oct 13, 2010 11:12am
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J16 Senior Member cczar
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Quote:
Originally Posted by smikester
Jarroo asked a question about the weekly pin bar. Here might be an opportunity to check it out at low risk:
Attachment 560220
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Freaking awesome smikester . . Higher time frame confluences . .rules.  
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Oct 13, 2010 11:31am
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J16 Senior Member cczar
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Quote:
Originally Posted by Osman
Hi Jarroo,
Ive got my RSI at 14 which is the default, ive seen u have it at 6, does make it any difference looking for div ?
Thx
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Looks the same, Osman. The 6 shift is a bit more exaggerated.
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Oct 14, 2010 12:01am
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J16 Senior Member cczar
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Quote:
Originally Posted by uBERpIP
Thanks for the feedback!
With not a lot of screen time behind me, it's amazing how the 2nd guessing just eats at you as long as you keep watching the market after putting on a trade.
Although I exited this position profitable, I still completely broke the pre-trade rules I made. Since I am on demo, I told myself I was going to look for my opportunity, set the SL and then leave the trade alone. Risking 1% is good MM, so I should only be trading an opportunity where I am convinced losing that 1% is worth the opportunity that I see ahead...
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Yep . .we all do the same thing . . .time and practise . .baby steps, they add up quick over time.
Price sure is respecting that 1.4100 . .would have like to have seen a Daily bar close strong below the 1.4000 to continue to the next target.
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Oct 14, 2010 12:30am
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Thanx Jarroo. Do you think that a touch trade would be an option in this trade, since price pulled back to a strong BRN @ 13000 ? In general when price pulls back to a BRN/strong PPZ's could one consider taking a touch trade off these strong area's ?
May the force be with you.
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Yes, a touch trade can be considered at these strong BRN/PPZ levels. But there is nothing like a solid PA confirmation on the lower time frame to improve a touch trade's probability.
Also, any additional confluence to a strong PPZ level can make all the difference to a potential touch trade. Like the 135.00, strong BRN, PPZ level with just that added 150ema confluence probably made the difference, at least to me.
Ghous had a post awhile back showing this nicely on the 4 hour GJ. .mutliplie confluences coming together at one point. . .50% ret., trendline and Daily PPZ level.
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Oct 14, 2010 12:34am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Yes, a touch trade can be considered at these strong BRN/PPZ levels. But there is nothing like a solid PA confirmation on the lower time frame to improve a touch trade's probability.
Also, any additional confluence to a strong PPZ level can make all the difference to a potential touch trade. Like the 135.00, strong BRN, PPZ level with just that added 150ema confluence probably made the difference, at least to me.
Ghous had a post awhile back showing this nicely on the 4 hour GJ. .mutliplie confluences coming together at one point. . .50%...
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Squeezy had a good one too. ..
Check out Raczekfx's posts within this thread and you'll find even more.
Quote:
Originally Posted by squeezy
I believe this is one of Rac's
ppz + 50fib + tl confluence
a smallish looking pin on the 30mins tf
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Oct 14, 2010 12:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by FXBat
hi guys, I took the PB on UY on daily (FXDD feed) that emerged on Oct 11th but failed. Anyone can give an advice how I could have avoided this loss?
thank you in advance.
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Don't take little PBs to countertrend such a strong move down. . .simple as that, . . don't trade'em.
Look at the Big BUB . . .that couldn't even turn it around. Its going to take some BIG Bullish PA or thick consolidation to turn that down trend around.
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Oct 14, 2010 1:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Thanx Jarroo. Do you think that a touch trade would be an option in this trade, since price pulled back to a strong BRN @ 13000 ? In general when price pulls back to a BRN/strong PPZ's could one consider taking a touch trade off these strong area's ?
May the force be with you.
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PA, at these levels, is always a better confirmation .. . 
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Oct 14, 2010 2:06am
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J16 Senior Member cczar
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Quote:
Originally Posted by Imphilomath
Hi Jaroo,
Can you direct me where I can read about touch trade. I understand the concept ( quick trade taken at S/R for a quick trade expecting reaction at the level) but wanted to learn more. I searched for Raczekfx and thread for 'touch thread' but did not find explanation about touch trade.
appreciate if you can direct me please.
cheers
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The discussion of touch trades are relatively new to this thread. So there is no explanation on how to execute one way or another. . .(except maybe studing Raczekfx charts . .  )
I would concentrate on finding great locations followed by great PA which this thread has many explanations within. Over time, you may find your own style of finding and trading a touch trade.
Jim
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Oct 14, 2010 2:25am
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J16 Senior Member cczar
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Quote:
Originally Posted by Imphilomath
Thanks Jim !! I was only curious :-) I think I can only handle daily/weekly :-)
touch trade will be too stressful for me :-)
But always good to learn something new everyday from seniors here, appreciate your comments.
cheers
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I understand Imphilomath . . my eyes would glaze over looking at Rac's charts early when I started in this thread
. . .it was over time that once I understood the basic methology of James16's Price Action, that Rac's charts began making sense and still I look at some of them and say,"where did he get that one?" . . .lol
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Oct 14, 2010 2:29am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Is it me or does GU have the giant cup and handle look to it as we approach the BRN.
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Nice Pb . .lol . .wow  . .that stucker was hiding in plain sight . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 14, 2010 3:52am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
I will take half off at 1.60724.
I saw the retest on M5
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Nice breakout PB
. . retest on the 5m??
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Indicators show the past. Price Action "Indicates" the future.
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Oct 14, 2010 3:56am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Yeah, I remembered Jim showing us that around a BRN a while ago in live chat.
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wow . . I missed that chat . . .lol
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Indicators show the past. Price Action "Indicates" the future.
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Oct 14, 2010 4:11am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
No, you sort of came into it near the end, I remember you saying, "Jim on 5 min charts"!
Took half off and moved the SL. It is a freebie now.
I just want to see if the BRN can hold.
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Oh yeah I remember now.
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Oct 15, 2010 4:00am
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
The news guys always make me laugh, like to today . ."well Larry, looks like the market likes these numbers that came out today . ."
Why can't they say something like this . . ."Well Larry, that Weekly DBLHC hit its FTA now it looks like its going for those Highs at the 10700ish"
. . "That's right Bill we should be getting a reaction there . .if not we may find new Support . .back to you Larry . . "
 lol
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Just an update . .
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Indicators show the past. Price Action "Indicates" the future.
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Oct 15, 2010 4:44am
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J16 Senior Member cczar
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Quote:
Originally Posted by damien100
NZD/USD H4 BUOB Retrace to previous resistance
I took this trade a couple of days ago sorry for delay in posting.
Entry 0.7510
SL 0.7480
TP 0.7510
Moved to Be/E to quick really at 0.7532 took half off
Reached Target for remainder
Buob
strong uptrend with 3 distinct touches
Retrace to 0.7500BRN -PPZ 61.8 % Fib
Please Critic where needed so I can continue to improve
I use 3 clicks to size picture if it needs changing larger or smaller please let me know.
Thanks
D
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Quote:
Originally Posted by mbqb11
Hey D
Looks great and really thought out. I like an entry on the retrace say at the BRN 7500, and then a stop around 7445, under that min trendline, under the 50 round number and under the left lows of that bigger buob too.
But like the way you used all the core concepts to generate a trade plan. This is great stuff
Mike
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I agree Mike . . .well planned out. Nothing wrong with move to B/E quick, in my book . .
On a side note . .
Something I observed about Outside Bars that don't immediately retrace to their previous bar, before or after they break.
One thing is the obvious why they don't retrace, that they have a lot of momentum, like all quality PA setups, and they just break hard and never look back. But if they don't retrace to their previous bar High/Low, that level tends to be a strong area to watch.
For example, the big BUOB just prior to damien's BUOB. Price eventually retraces back down to the previous bar High (purple) and finds Support . .bypassing the 1.7500 BRN. You would think the 1.7500 would have offered that Support.
Another example, Usd/Cad Daily BUOB. No retracement before or after the break . .Price breaks hard and runs. Price eventually works its way downward and finds Support . . then Resistance . . Where? At this BUOB's previous bar High . . interesting don't you think?
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Indicators show the past. Price Action "Indicates" the future.
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Oct 15, 2010 11:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
The power of the daily ...retrace for continuation long off RN and S which was once R
I have been on this thread since approx Jan/Feb 2010...my learning and trading have come along very well...for those who are just popping in or struggling ---hang in there and spend some time here ----there is great opportunity and some fantastic people to help you ...like you have read ...it just takes time, patience and discipline.
Learn the basics and build from there. It has all been said before but to reiterate find one or two things that work for you...
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Very nice Atc . .that 1.4100 sure looked clear, strong . .as it was back in Feb and March.
Great advice to following, Atc . . . I couldn't agree more . . .
Jim
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Indicators show the past. Price Action "Indicates" the future.
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Oct 15, 2010 11:57pm
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J16 Senior Member cczar
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Quote:
Originally Posted by cprao
Jarroo, Thank you for this post. I have been paying more attention to BUOB/BEOB's and their retracement at swing low/swing High locations.
I had the same question in my mind, do they retrace all the time to the previous bar high/low or any other valid retracemet pont within that BUOB/BEOB.
I did see some that won't retrace and
if they retace after some time, then I see lot of choppy action between BUOB/BEOB and the retracememet bar. I don't know whether such setup is still valid or not ?
I missded couple of setup since they didn't retrace...
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Do they all retrace?? . .good question cprao . . . it all depends on the quality of the setup . . meaning is the Outside Bar at a Swing High/Low or in consolidation. . does it have supporting confluences . .etc. Or even if they're not of high quality.
Its just interesting to see these levels, (previous bar High/Lows of Outside Bars), have such a reaction to Price far after they are formed. . .whether they retraced at the time of their formation or not.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 16, 2010 12:03am
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J16 Senior Member cczar
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Quote:
Originally Posted by ghous
g.
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Nice . .very nice g . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 16, 2010 12:07am
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J16 Senior Member cczar
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Quote:
Originally Posted by Atc
GREAT Charts Jim...I Always enjoy your stuff...the news commentators junk is just to funny...They should be saying ..."well it looks like we don't know what the hell is going on with the markets....maybe we should get the Jarroo fella in here"
To you Jim 
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Thanks Atc . . .but I think I would have to have James16 and/or Mike sitting at the table with me . . . that would be fun as hell . .lol
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 11:32am
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J16 Senior Member cczar
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 12:05pm
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J16 Senior Member cczar
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Quote:
Originally Posted by damien100
I am so chuffed Jarroo ,Thanks for your positive comments,
Your interesting point about watching the area where price eventually returns to previous bar highs after a hard break , when BRNs are just above /below ,it is interesting why price does seem to prefer to magnetize
beyond the powerful BRN
have a nice Weekend
D
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Quote:
Originally Posted by jarroo
I agree Mike . . .well planned out. Nothing wrong with move to B/E quick, in my book . .
On a side note . .
Something I observed about Outside Bars that don't immediately retrace to their previous bar, before or after they break.
One thing is the obvious why they don't retrace, that they have a lot of momentum, like all quality PA setups, and they just break hard and never look back. But if they don't retrace to their previous bar High/Low, that level tends to be a strong area to watch.
For example, the big BUOB just prior to...
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Hey damien,
Price is sure fun to watch around BRNs . .  the Nzd/Usd should be interesting . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 12:30pm
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J16 Senior Member cczar
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Quote:
Originally Posted by john225
Could anyone agree that i understand the PPZ Levels right please?
That is the AUDJPY Chart where the Price is stucking in the sideways channel at the moment.
Hope i understand it right  ^^
Edit: Oh i forgot to post the Chart lol
john225 ;-)
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Hey John, . .your 4 hour PPZ levels look good  ..
The Aud/Jpy can be a very choppy pair, especially on the 4 hour time frame. I always look to the higher time frames, Daily and Weekly, to map out my PPZ levels. The PPZ levels will stand out more clearly.
Price has finally broken out of its current consolidation at the 80.00 BRN. Should be fun to see how it plays out. A strong Close of Price below the 80.00 could be telling .. 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 12:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
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Nice Jim . . . lol
I see a Gbp/Usd Daily PB chart coming from you . . I'll just post the Monthly GU . . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 12:43pm
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J16 Senior Member cczar
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Quote:
Originally Posted by HanSolo
I surely don't. Have a look at this post:
It's a treasure. I printed it out and pinned it on my desk. 
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This one is pretty good too. . .
Quote:
Originally Posted by Pinbar
I think the randomness is starting to fade a little.
Pick a pair and work on the story folks, it is great self help.
EDIT: And to think on the Monthly it is just this little range.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 1:12pm
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J16 Senior Member cczar
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Quote:
Originally Posted by damien100
Hi Jarroo that pb on h4 looks good, entry above .75 BRN, preferably if PB can close above , otherwise trading into BRN
alternative wait and find PA above .75 on lower TF
does that sound reasonable
and thanks
D
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Yes, very reasonable damien. It would be a nice Bullish PB (Close higher than the Open) closing above the .7500.
What will be more telling is how or if Price closes below the .7500.
Quote:
Originally Posted by damien100
Hi Jarroo
Just looking at Daily BEOB, if price doesn't go above .75, perhaps with that BEOB we are going for a short to .74 PPZ
D
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 1:17pm
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J16 Senior Member cczar
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Quote:
Originally Posted by james16
Jim knows jim.
Like very very few others. Lolol.
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I learned from the best . . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 1:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by john225
YEHA i got it right thanks jarroo 
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I hope you got my main point John . .the Daily, Weekly and even the Monthly PPZ levels . . .Rule! . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 19, 2010 1:34pm
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J16 Senior Member cczar
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Quote:
Originally Posted by damien100
The low of the previous bull bar .7477 ,are you thinking if beob closes any higher than that ,it possibly will go long.
D
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I would like to see a strong close below the .7500, meaning a good distance below the .7500. A close at .7490, 7580 may not be strong enough. I'll just wait until that Daily closes and see what we got.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 1:49am
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Jarroo is back, I was getting worried that you were sick.
Probably just busy.
Bemac is kindly teaching me about ICCE.
What fun.....Still J16 is the main thing and I will keep that in perspective.
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I missed this post, Pb . . . I had a long weekend with family and friends.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 1:57am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeffokes
Mike,
What do you say about this;would it pass for a good consolidation breakout sell trade? I am considering putting a sell stop below the BRN 80.00 which also is a Daily Tf PPZ. Pls do throw in some light here for me. Thanks.
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Yes, I would say it would pass as a consolidation breakout. I would wait for some Bearish PA at the 80.00/80.50 for confirmation. But a touch trade at these levels is possible.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 2:38am
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J16 Senior Member cczar
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Quote:
Originally Posted by Mist Gun
Greetings,
First of all, thank you for starting and maintaining this great thread.
I am looking to learn more about price action set up from the senior traders in this thread.
I just started a demo account and am eager to try the set ups taught here.
One of the set up is the DBLHC that I spotted in the 4H chart of NZD/USD. It is off of a 50% Fib retrace and also a round number 0.7450.
I am wondering if my understanding about DBLHC is correct?
Also, I noticed the BEOB on the daily chart for a short set up.
Welcome Mist Gun . .btw...
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I would like the 2nd scenario if that DBLHC was bigger and at the .7400, which was strong Resistance and now could be turning into strong Support.
That small DBLHC is reacting well, tells me that the uptrend is still pretty strong. I like the retest of the .7500 with some bearish PA.
Welcome Mist Gun . .btw . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 2:54am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeffokes
I am seeing this as an EG Daily tf possible valid pb. It is coming off BRN 0.88000. The location worries me I must say - it seems to be in a consolidation environment. Please seniors what do you guys say?
Senoir Jarroo Thank you soo much for the above response! Any word on this for me please?
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I agree jeffokes . . looking at the Weekly . .Price looks to be winding up tight in consolidation. Any Price Action within this area would have to deal with alot of traffic. A breakout . .on either side of this consolidation .. . should present an opportunity . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 3:11am
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J16 Senior Member cczar
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Quote:
Originally Posted by jeffokes
Thank you soooo much Jarroo. I was patiently waiting for your reply and I can see you have really put in so much into it. Folks like you and the other seniors make this thread the best around with your kindness. May God reward you all with good amount of pips!!!
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Thanks jeffokes . . .its what makes this thread . .as you said . .The Best .. 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 4:24pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
The term PPZ is an area that has acted as both Support & Resistance.
I drew this only on the daily chart, just to give you an idea but, you may want to start on the monthly and work your way down to the daily or H4 time frame using different color lines, so that you remember the large time frame lines will be more solid.
Hope this helps.
Just a roughly drawn chart to give you the idea of what we are trying to do.
There may well be more PPZ not on these charts, I am just trying to show you what I mean.
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WOW . .great post, Pb . .  . . .everyone should practise making a chart like this . .with the confluences.
Check out your first posts in May and April and compare them to this one, Pb. . . you're progressnig faster than you think. . great job.
Jim
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Oct 20, 2010 4:27pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Pinbar
Out chasing women again eh?
Good for you Jarroo.
Glad to hear you had fun.
I have been off line all afternoon after the phone company came and upgraded my 100 Mbps fiber optic connection to 200 Mbps.
So, I just saw your post with a sigh of relief.
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Lol . .it was more like chasing golf balls and squirrels . . .lol
Good times.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 4:55pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeffokes
Mike,
What do you say about this;would it pass for a good consolidation breakout sell trade? I am considering putting a sell stop below the BRN 80.00 which also is a Daily Tf PPZ. Pls do throw in some light here for me. Thanks.
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Quote:
Originally Posted by jarroo
Yes, I would say it would pass as a consolidation breakout. I would wait for some Bearish PA at the 80.00/80.50 for confirmation. But a touch trade at these levels is possible.
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Hey jeffokes. . .looking at the Daily #CLXO it looks like there was no reaction to the these levels that we talked about, 80.00 & 80.50. That would be correct if we were looking for a setup on the Daily.
Looking at the 4 Hour and Hourly we can see that there was a reaction at the 80.50 which was the break of the consolidation. This is where touch traders can get into touble and were PA confirmation can make the difference.
The 4 hour and Hourly showed no clear, obvious PA. (The Hourly had an IB which was valid.)
It is this reaction . .this bit of bounce . . at these supported levels that can allows us to take a trade and give us room to cover our risk. Move to B/E quickly, take some off the table, have a very small loss, . .whatever . .that's up to you, but we will protect ourselves.
But the more picky we get, the more selective we are and the more practise we do . . the results will only get better . . more than you can imagine.
Jim
Let's look at Mist Gun's Nzd/Usd . .
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 5:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by mbqb11
Thanks J!
I missed this one
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Sure thing Mike.
Looks like a touch trade at the 80.50 would have worked out nicely for some pips depending on the size of your small stop loss.
Does the #CLXO use pips?? lol
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 5:37pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jarroo
Let's look at Mist Gun's Nzd/Usd . .
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Quote:
Originally Posted by Mist Gun
Greetings,
First of all, thank you for starting and maintaining this great thread.
I am looking to learn more about price action set up from the senior traders in this thread.
I just started a demo account and am eager to try the set ups taught here.
One of the set up is the DBLHC that I spotted in the 4H chart of NZD/USD. It is off of a 50% Fib retrace and also a round number 0.7450.
I am wondering if my understanding about DBLHC is correct?
Also, I noticed the BEOB on the daily chart for a short set up.
The 1st scenario that I could...
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Quote:
Originally Posted by jarroo
I would like the 2nd scenario if that DBLHC was bigger and at the .7400, which was strong Resistance and now could be turning into strong Support.
That small DBLHC is reacting well, tells me that the uptrend is still pretty strong. I like the retest of the .7500 with some bearish PA.
Welcome Mist Gun . .btw . . 
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Looks like your 2nd scenario was correct MG. Price Action with the trend, be it at a retracement level or continuation, can be a nice confluence in and of itself . .just ask Ryanmcd.  I still would have liked strong bullish PA at the .7400.
I was looking for a some bearish PA at the .7500. Clearly there was no sign of any bearish PA at the .7500 on the Daily or 4 Hour. A small reaction on the Hourly but nothing to right home about . . no trade.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 6:03pm
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J16 Senior Member cczar
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Quote:
Originally Posted by jeffokes
Jarroo thank you big time!!! I sat and observed all the events with great respect for the market - I realized that one has to be rigid with his or her rules but flexible with expectations and pay attention to this big guy (the market) and he will let one know what to do. This is what you guys have got and we the newbies are being helped to learn. Yes the market does speak and it's language is PA. I am trying really hard to learn it and folks like you are simply God sent to me. I appreciate you and the others dearly !!! Thank you soooooo much for...
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Sure thing jeff . . 
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 6:07pm
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J16 Senior Member cczar
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Quote:
Originally Posted by xmzhang
Hey Jarroo,
Do you also think that the correlation between the dow jones index and the commodity pairs and the E-U is very strong ie. the correlation index is very close to one. For instance looking at the kiwi, ozzie and euro today, I really was expecting and looking for some bearish PA at some keylevels, but when the Dow broke with quite some momentum the RNB @ 11000, all these pairs followed and soared upwards.
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I understand there is a correlation with some pairs with the dow/ equities, futures, etc. But I really just look at the chart of the pair in front of me and treat them independently.
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Indicators show the past. Price Action "Indicates" the future.
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Oct 20, 2010 6:16pm
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J16 Senior Member cczar
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Quote:
Originally Posted by Mist Gun
Thank you, Jaroo.
Pardon my inexperience, but what does it mean when you said that you are expecting a re-test of 0.7500 with some bearish PA? Does it mean you would look to short at 0.7500?
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Yes that's correct, MG. The .7500 is a BRN (Big Round Number) and signifies a strong level. Search out mbqb11's (Mike) posts on the subject of BRNs . .you will find more information about them and their importance.
Since Price broke down and closed below the .7500 on that Daily, I was looking to see if the .7500 would act as Resistance where we like to see bearish PA.
This link with chart should help you with what I look for. . .
http://www.forexfactory.com/showpost...ostcount=76471
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