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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

  • #56,121
  • Feb 24, 2010 8:45pm Feb 24, 2010 8:45pm
Hey mike, here is a blast from the past, 2002 from my mentor. This is how I work the time into my deal, this was the sp e-mini but it follows the euro too because when the dow moves everything else does too now.....
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Keep taking CT trades, I need more money
  • #56,122
  • Feb 24, 2010 8:48pm Feb 24, 2010 8:48pm
Quoting Ryanmcd
Nice trend trade, Also whatca got going on with that macd lol
lol just use it for Divg, nothing fancy
  • #56,123
  • Feb 24, 2010 8:49pm Feb 24, 2010 8:49pm
Quoting Ryanmcd
Hey mike, here is a blast from the past, 2002 from my mentor. This is how I work the time into my deal, this was the sp e-mini but it follows the euro too because when the dow moves everything else does too now.....

Blast from the past, man 2002 seems like yesterday
  • #56,124
  • Feb 24, 2010 8:53pm Feb 24, 2010 8:53pm
Quoting mbqb11
Blast from the past, man 2002 seems like yesterday

I know it sucks right lol. Shit I was in IT at the time doing y2k testing for Bellsouth haha. Oh well same shit different day, that was all Bill Williams stuff too. The time things still works to this day, it's nice 10:30 12:30 2:30 RSI 20/80 short term high/low stuff but you know all this.

So when is a good time for Vegas? You think we could round up some people? Would be kinda cool.
Keep taking CT trades, I need more money
  • #56,125
  • Feb 24, 2010 8:59pm Feb 24, 2010 8:59pm
Quoting Ryanmcd
I know it sucks right lol. Shit I was in IT at the time doing y2k testing for Bellsouth haha. Oh well same shit different day, that was all Bill Williams stuff too. The time things still works to this day, it's nice 10:30 12:30 2:30 RSI 20/80 short term high/low stuff but you know all this.

So when is a good time for Vegas? You think we could round up some people? Would be kinda cool.
I might be there end of year for a bachelor party so an extended stay wouldn't be bad
  • #56,126
  • Feb 24, 2010 9:01pm Feb 24, 2010 9:01pm
Quoting mbqb11
I might be there end of year for a bachelor party so an extended stay wouldn't be bad

Let me know, I can go whenever. We still need to have a yearly J16 get together. Would be cool to see others who trade face to face.
Keep taking CT trades, I need more money
  • #56,127
  • Feb 24, 2010 9:02pm Feb 24, 2010 9:02pm
Quoting mbqb11
I might be there end of year for a bachelor party so an extended stay wouldn't be bad
I'm visiting the states around then too. But I want a room with a tiger in it. Like 'The Hangover'. And you have to go to Mike Tyson's house.
  • #56,128
  • Feb 24, 2010 9:05pm Feb 24, 2010 9:05pm
Quoting jarroo
No praying here buddy. lol It's not a bad setup, you mentioned all the pros and cons about it. Sure it could be bigger, etc. Is it an A+ trade that James16 would post? probably not . . but maybe.

That 80.00 is a strong PPZ level, what a great place to look for some PA. The only thing missing for me is a nice hard break. The 80.00 is a great place to hide a stop loss. Looks pretty easy and safe to me. Should be fun to watch.

Edit: Forgot to add the 150 ema confluence.

Hi Guys,

I think it is now an easy past for me like Mike said all the time, only take the big bar and it will avoid lots of traps.

This pinbar is much smaller relatively compare to those red bars before.

Location is nice but I am being more pickier now than before, I like big bars more now than before. The big bar rarely lies.

Thanks Mike!

PM
  • #56,129
  • Feb 24, 2010 9:12pm Feb 24, 2010 9:12pm
Quoting jarroo
Let's see how she breaks.

Hello Jarroo,

For this trade, do you wait for the price to retrace back to 80 and take a loss. Or you kill the trade a little earlier?

It is a bad break for sure and just want to know how do you handle this situation?

Thanks!

PM
  • #56,130
  • Feb 24, 2010 9:18pm Feb 24, 2010 9:18pm
Quoting TiaForex
I'm visiting the states around then too. But I want a room with a tiger in it. Like 'The Hangover'. And you have to go to Mike Tyson's house.
hilarious movie
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  • #56,131
  • Feb 24, 2010 9:23pm Feb 24, 2010 9:23pm
Quoting mbqb11
Here is a trade closed out today

4hr in a nice downtrend. Price consolidates in a bearish flag type pattern around the .7000 round number +ppz(look to the left of the pattern at that box of consolidation). Breaks out and pullbacks to round number former flag and forms a BEOB engulfing 7 bars or so with a very strong close. First blue box is b/e second was full take profit.

Hello Mike,

Nike classic trade around the big round number. Again, big bar.

I took the AUD/USD BEOB at 0.9000 and quick 40 pips profit.

Thanks!

PM
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  • #56,132
  • Feb 24, 2010 9:24pm Feb 24, 2010 9:24pm
Quoting TiaForex
I'm visiting the states around then too. But I want a room with a tiger in it. Like 'The Hangover'. And you have to go to Mike Tyson's house.

You know how it works, with enough money I bet I can get those damn S&R white tigers and hookers from the bunny ranch to ride'em around. Hmm, now you got me thinking again lol!
Keep taking CT trades, I need more money
  • #56,133
  • Feb 24, 2010 9:24pm Feb 24, 2010 9:24pm
Quoting mbqb11
hilarious movie
I love that movie so much. I need to be able to quote from it more.
  • #56,134
  • Feb 24, 2010 9:27pm Feb 24, 2010 9:27pm
Catch ya!
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Back to the beginning ... demo
  • #56,135
  • Feb 24, 2010 9:31pm Feb 24, 2010 9:31pm
Quoting jarroo
The Daily (pinish looking) BEOB off the strong PPZ level (.8850ish) , no surprise there. The BEOB sure would have be nicer if it was on the .8850 level.
Anyway, could Price be now heading down to continue its consolidation period? Maybe, the BEOB sure is telling us that it might be.

The bearish 4 hour PB with the support of the Daily BEOB is a good combination. But we still need to apply the A+ criteria to this PA setup.

There is a 61.8 fib and 50% ret from the most recent move down which is the Daily BEOB. The size of the PB could be much...
Hello Jim,

Lack of confluenced and this 4h pin at this time is not good for me to trade. I am more preferred trading the 4hr candle around European or US session.

It is a past for me and I am happy I am more picker now than before, because at the beginning of year Mike told us he will have much more patient than before and I think that's a good trader should do

Thanks@

PM
  • #56,136
  • Feb 24, 2010 9:39pm Feb 24, 2010 9:39pm
Quoting PippingMama
Hello Mike,

Nike classic trade around the big round number. Again, big bar.

I took the AUD/USD BEOB at 0.9000 and quick 40 pips profit.

Thanks!

PM
  • #56,137
  • Feb 24, 2010 9:45pm Feb 24, 2010 9:45pm
Quoting Ryanmcd
You know how it works, with enough money I bet I can get those damn S&R white tigers and hookers from the bunny ranch to ride'em around. Hmm, now you got me thinking again lol!
Lol. We'll put Mike to work on the poker tables, and what he makes during the day gets spent in the evening.

From what I hear (only been once and I was married then, very different experience), everything is for sale in Vegas. Just no Cirque Du *$!@ing Soleil please.
  • #56,138
  • Feb 24, 2010 10:05pm Feb 24, 2010 10:05pm
Quoting TiaForex
Lol. We'll put Mike to work on the poker tables, and what he makes during the day gets spent in the evening.

From what I hear (only been once and I was married then, very different experience), everything is for sale in Vegas. Just no Cirque Du *$!@ing Soleil please.

I plan on bringing $50 and putting Mike to work, If we cant rent the bunny ranch your not a true poker player.
Keep taking CT trades, I need more money
  • #56,139
  • Feb 24, 2010 10:21pm Feb 24, 2010 10:21pm
kiwi back to yesterdays level hopefully this time it can power through.
Learning to be rigid in my rules & flexible in my expectations
  • #56,140
  • Feb 24, 2010 10:40pm Feb 24, 2010 10:40pm
GBP/JPY - so I was wondering what others thought about my plans here. There's a substantial break of support (and i missed it cuz i was doing other stuff ) but I think this indicates a lot of bearishness. I'm going to wait till a retracement and get back in with this trend.

My question to others in this thread is this: would you consider the current price action in a sustainable downtrend worth getting into on a rally? Or is this sharp move an indication of stalling because it's just "out of breath"?

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