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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #4,901
  • Jul 24, 2007 10:56am Jul 24, 2007 10:56am
I may be totally off kilter, but lat's see if my analyses are, correct?!, as soon, as the loonie reaches 1.0350-00, there is going to be a masive dollar rebound all the way in to August. So far, the Euro and the pound had reached my exact levels today and started heading north. Will share a graph, if turns out to be a correct notion on my part
  • #4,902
  • Jul 24, 2007 11:08am Jul 24, 2007 11:08am
Quoting gene22
I may be totally off kilter, but lat's see if my analyses are, correct?!, as soon, as the loonie reaches 1.0350-00, there is going to be a masive dollar rebound all the way in to August. So far, the Euro and the pound had reached my exact levels today and started heading north. Will share a graph, if turns out to be a correct notion on my part
Well lets see gene, youre either gonna be totally right or totally wrong, and as far as Im concerned it should be illegal to say things like that without backing yourself up but I think its kind of funny at the same time I have to admit. But Im going a bit crackers here in front of the screen today so I think Im going to take a break....Raz
Never say never.
  • #4,903
  • Jul 24, 2007 11:22am Jul 24, 2007 11:22am
Quoting razldazl
Well lets see gene, youre either gonna be totally right or totally wrong, and as far as Im concerned it should be illegal to say things like that without backing yourself up but I think its kind of funny at the same time I have to admit. But Im going a bit crackers here in front of the screen today so I think Im going to take a break....Raz
Will do all the back up in a few hours, we are almost there
  • #4,904
  • Jul 24, 2007 11:27am Jul 24, 2007 11:27am
Quoting razldazl
Yes, I was in the first one, but I got knocked out ...so this was just another opportunity I noticed and took advantage of, Raz
ps, this is the 3rd cad position Ive taken in the last few weeks, Ive been knocked out every time trailing by day before high...anyway live and learn
not to be a joykill here raz, but this is a position I would have never taken(so not sure how this is an mbqb special ). If you missed that first entry, just wait for the next

best,
Mike
  • #4,905
  • Edited 12:55pm Jul 24, 2007 11:47am | Edited 12:55pm
Quoting gene22
Will do all the back up in a few hours, we are almost there
No disrespect gene22 but not sure this is the best place for wild predictions...
  • #4,906
  • Jul 24, 2007 12:31pm Jul 24, 2007 12:31pm
Quoting mbqb11
not to be a joykill here raz, but this is a position I would have never taken(so not sure how this is an mbqb special ). If you missed that first entry, just wait for the next

best,
Mike

wads mbqb???

also, does anyone know what is market structure high/low?

thanks.
  • #4,907
  • Jul 24, 2007 12:45pm Jul 24, 2007 12:45pm
Quoting streetguy88
wads mbqb???

also, does anyone know what is market structure high/low?

thanks.
I don't mean to sound harsh - this is a place where everyone comes to learn and every single person that posts here is incredibly friendly and all questions, however stupid you think they might be, are welcomed but sometimes, people should try looking around for the answer a little bit first and then if they can't find it then by all means post away!

I went to Google and did a search and the top result was this website: http://www.enthios.com/Primer_buildingblocks.htm, which probably explains what you are looking for.

As for mbqb, he is a very skilled trader who frequents these boards, posting charts and advice and generally helping us all out. His real name is Mike. He posted a while back with his opinions on different types of price action setups and since he has a lot of experience and does very well, we've taken to calling his favourite one an "mbqb special"!
  • #4,908
  • Jul 24, 2007 1:00pm Jul 24, 2007 1:00pm
Quoting the_wizard
No disrespect gene22 but not sure this is the best place for that kind of talk...
I'm not predicting anything or, making any kind of judjement call, simply put I'm sharing my opinion and would share the detailed analyses either way this plays out. I beleive that we are at critical levels(nevertheless levels that had to be achived froma technical point of view0 throughout the market, and purely for technical reasons I see a correction from this levels and into August.
I'm not simply saying this, it is based on a multiyear research and the current wave structure and timing.
I'm not here to mislead anyone, I respect the opinions of others, and think have enough on my own to share.
  • #4,909
  • Jul 24, 2007 1:12pm Jul 24, 2007 1:12pm
Quoting mbqb11
not to be a joykill here raz, but this is a position I would have never taken(so not sure how this is an mbqb special ). If you missed that first entry, just wait for the next

best,
Mike
He he, well I meant putting the bars together thats all. Blinking nice drop though eh Raz
Never say never.
  • #4,910
  • Jul 24, 2007 1:21pm Jul 24, 2007 1:21pm
Quoting razldazl
He he, well I meant putting the bars together thats all. Blinking nice drop though eh Raz

hehe you bet it was, nice job

Mike
  • #4,911
  • Edited 2:08pm Jul 24, 2007 1:46pm | Edited 2:08pm
OK first of all... someone plz tell me what a mbqb special is... !!! No doubt it is some set up I really need to know... !!! Also what is an mbqb exit ??? Seen that talked here a lot too...

Also, am I wrong now in thinking there is two ways to play a DBLHC ??? Not only looking for a trade above the DBLHC, but also getting in if price breaks below ??

Shoot... had i thought of that ( shows you how much thinking I actually do ), I would maybe have had a whole bunch of pips today on USD/CAD...

And yes... this is by far the freindliest forum... !!!
  • #4,912
  • Jul 24, 2007 2:03pm Jul 24, 2007 2:03pm
Quoting gene22
I'm not predicting anything or, making any kind of judjement call, simply put I'm sharing my opinion and would share the detailed analyses either way this plays out. I beleive that we are at critical levels(nevertheless levels that had to be achived froma technical point of view0 throughout the market, and purely for technical reasons I see a correction from this levels and into August.
I'm not simply saying this, it is based on a multiyear research and the current wave structure and timing.
I'm not here to mislead anyone, I respect the opinions of others, and think have enough on my own to share.
Ok gene22, - we certainly welcome your opinion. Hope I didn't offend you. If we get a nice PA setup at these low levels then your research will certainly become VERY interesting
  • #4,913
  • Edited 2:35pm Jul 24, 2007 2:08pm | Edited 2:35pm
Hey Tiki,

Ok the "mbqb special" is a made up term. (I think by Raz )

As you all know mbqb11 (Mike) is a brilliant trader that's always around here.
His favourite pin is a Pin that occurs at a swing high/low retracement of the main trend. ( I hope that makes sense)
These in my opinion as well are the best pins to take.

He made a post about that a little while that included all the Pin types we see and indicated the best one. The "special" one.
Here's the post: http://www.forexfactory.com/showpost...postcount=3914

The mbqb exit is a type of exit strategy. That's a little more complex and since it's not my strategy so I won't get into that.

Tom
  • #4,914
  • Jul 24, 2007 2:19pm Jul 24, 2007 2:19pm
I would like to share with you a trade I just took.

I went short the Dax because of the DBHLC as the close was beneath intraday support at a new low.

Covered for 32.5 ticks or £97.50 profit because that area "might" have been support on the 5m timeframe (see - I can't even take my own advice about exiting on the timeframe you got in on)...and then the bottom fell out and down she goes another 54 points in the time it has taken me to write this post.

I hate it when that happens...

WOAH

Look at the gbp/jpy go...248.40 support just got hit hard
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  • #4,915
  • Jul 24, 2007 2:23pm Jul 24, 2007 2:23pm
I really feel compelled to announce now that I have made some pips !! I am really happy cause these are the first major pips I have made since joining the PF and started learning J16...

Made pips last night on EUR/JPY... don't remember the price action set up, but made 20 pips there... made two trades there, when target was hit, moved stop to BE, then got stopped out later... ( of coarse price has now gone down further again and I would have made even more pips... but oh well... got some there anyways...

Next, as I mentioned earlier I took short on USD/JPY 10 pips under that BEOB a couple of days ago... 120.70 was a major fib line, but it finally broke through... got 30 pips there and now moved stop to BE and free trading now... second target is 50 fib line around 119.75, which also happens to be at the 200 sma... ( rob bookers sma favorite ) Lets hope it can get there withou stopping me out again... but I got pips in the pocket !!!
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  • #4,916
  • Jul 24, 2007 2:28pm Jul 24, 2007 2:28pm
Quoting the_wizard
Ok gene22, - we certainly welcome your opinion. Hope I didn't offend you. If we get a nice PA setup at these low levels then your research will certainly become VERY interesting
I'll certainly post exactly what i was looking at across a wide spectrum, eur/us, gbp/us, us/cad, eur/gbr, dow, gpb/yen, loaded on all of them with a very tight stop across the board, I'd like to see a certain play by this weekend, this way my analyses will make more sense, keep you posted
  • #4,917
  • Jul 24, 2007 2:30pm Jul 24, 2007 2:30pm
Quoting Tiki Trader
I really feel compelled to announce now that I have made some pips !! I am really happy cause these are the first major pips I have made since joining the PF and started learning J16...

Made pips last night on EUR/JPY... don't remember the price action set up, but made 20 pips there... made two trades there, when target was hit, moved stop to BE, then got stopped out later... ( of coarse price has now gone down further again and I would have made even more pips... but oh well... got some there anyways...

Next, as I mentioned earlier I took short on USD/JPY 10 pips under that BEOB a couple of days ago... 120.70 was a major fib line, but it finally broke through... got 30 pips there and now moved stop to BE and free trading now... second target is 50 fib line around 119.75, which also happens to be at the 200 sma... ( rob bookers sma favorite ) Lets hope it can get there withou stopping me out again... but I got pips in the pocket !!!
right on bro
  • #4,918
  • Jul 24, 2007 2:52pm Jul 24, 2007 2:52pm
Quoting gene22
I'll certainly post exactly what i was looking at across a wide spectrum, eur/us, gbp/us, us/cad, eur/gbr, dow, gpb/yen, loaded on all of them with a very tight stop across the board, I'd like to see a certain play by this weekend, this way my analyses will make more sense, keep you posted
So far so good, nice impulsive move
  • #4,919
  • Jul 24, 2007 2:59pm Jul 24, 2007 2:59pm
Quoting the_wizard
I would like to share with you a trade I just took.

I went short the Dax because of the DBHLC as the close was beneath intraday support at a new low.

Covered for 32.5 ticks or £97.50 profit because that area "might" have been support on the 5m timeframe (see - I can't even take my own advice about exiting on the timeframe you got in on)...and then the bottom fell out and down she goes another 54 points in the time it has taken me to write this post.

I hate it when that happens...

WOAH

Look at the gbp/jpy go...248.40 support just got hit hard
They are all dropping big time..
Never say never.
  • #4,920
  • Jul 24, 2007 3:20pm Jul 24, 2007 3:20pm
Quoting the_wizard

..
WOAH

Look at the gbp/jpy go...248.40 support just got hit hard
nice dive today. after last friday's drop I couldn't pass an opportunity and took long yen positions on sunday open.. not a rifle shoot but certainly a B shot
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