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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

  • #59,021
  • Mar 24, 2010 2:17pm Mar 24, 2010 2:17pm
Quoting the_wizard
Do 95% lose?
I have heard "they" have raised the statistic to 96%, spread the news


Hi there wiz
  • #59,022
  • Mar 24, 2010 2:17pm Mar 24, 2010 2:17pm
Quoting the_wizard
Do 95% lose?
Do not 95% lose?
  • #59,023
  • Mar 24, 2010 2:24pm Mar 24, 2010 2:24pm
Is anyone considering this setup? Only if BUOB will form.

+ nice pin
+of 50 ret and 61 fibs,
+of 122 RN,
+ possible BUOB forming..

-not clear swing low,
-massive trend down,
-123 RN just above,

This pin + BUOB(not formed yet ) setup is really seducing me..
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  • #59,024
  • Mar 24, 2010 2:24pm Mar 24, 2010 2:24pm
Quoting the_wizard
Do 95% lose?

I sometimes wish that number was a bit closer to 99%.... Just gives those willing to learn and take their time more money to make in the long run.

We need that 95%.... real bad.
Many choose unhappiness over uncertainty.
  • #59,025
  • Mar 24, 2010 2:35pm Mar 24, 2010 2:35pm
Quoting Nawry
Is anyone considering this setup? Only if BUOB will form.

+ nice pin
+of 50 ret and 61 fibs,
+of 122 RN,
+ possible BUOB forming..

-not clear swing low,
-massive trend down,
-123 RN just above,

This pin + BUOB(not formed yet ) setup is really seducing me..
That is an OK setup, but I would not take it, even though it looks like an upside down head and shoulder pattern is forming, which should add to your confluencing factors....

I just don't like the idea of going long on the euro right now, You're not at a swing low really, and you're trading right in the middle of a complete "sea of chop"....


If price broke above the 125.00, then retraced back to the 125.00 and printed a big BUOB, then i would jump in with both feet. but that's just me.


EDIT: btw, that chart you posted is gorgeous clean and neat.
Many choose unhappiness over uncertainty.
  • #59,026
  • Mar 24, 2010 2:54pm Mar 24, 2010 2:54pm
So how about PA on Equities then?

Clear swing high, nice BEOB which encompasses two previous bars. Price now re-testing the previous high, an Inside Bar which has been broken to the downside and divergence on the RSI.

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  • #59,027
  • Mar 24, 2010 2:54pm Mar 24, 2010 2:54pm
Quoting bluetrader
I like it. I'll add it to your J16 acronym list. Thanks Mike.

Let's see ... the most incoherent J16 entry statement:

Long EU PB off a PPZ... FTA @1.4
or
Short EU BEOB w/50 FIB & PPZ confluence... FTA @1.3


-- Danny
That's not incoherent, that's how I keep my journal.

I thought FTA was 'patented' by Mike, a long time ago, 'cause I was using it for some time..
  • #59,028
  • Mar 24, 2010 2:57pm Mar 24, 2010 2:57pm
Quoting Mp1983
So how about PA on Equities then?

Clear swing high, nice BEOB which encompasses two previous bars. Price now re-testing the previous high, an Inside Bar which has been broken to the downside and divergence on the RSI.

That's not really a BEOB. The candle has to encompass (engulf, cover etc) the whole previous candle.

And the IB broke, but it came back, that's not a good sign. That's called a 'fakey' setup, and it usually goes the other way around (in this case it broke down, made a comeback and then goes straight up).
  • #59,029
  • Mar 24, 2010 3:02pm Mar 24, 2010 3:02pm
Quoting Nawry
Is anyone considering this setup? Only if BUOB will form.
Hey Nawry, just to add to Dan's comments:

Below are some charts to show what happens when we don't look at "FTA" (it's a new term I learned today )

I'm not saying it won't work. I'm just saying: look to your left before crossing.

-- Danny
Attached Images
  • #59,030
  • Mar 24, 2010 3:05pm Mar 24, 2010 3:05pm
2 hrs left for closing.
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  • #59,031
  • Mar 24, 2010 3:20pm Mar 24, 2010 3:20pm
Quoting mbqb11
I have heard "they" have raised the statistic to 96%, spread the news


Hi there wiz
lol, hi Mike
  • #59,032
  • Mar 24, 2010 3:22pm Mar 24, 2010 3:22pm
Hello everyone.
CHFJPY chart this time.

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I'll be looking for possible short position around 87.00 level (ideally 87.50).
+ round number,
+ level between 50 & 62% fib level of downward move (91.03 - 81.76),
+ S&R level in the past,


There's some news coming out of Japan tomorrow's night (GMT) that could move it down (wishful thinking? )

I'll be grateful for any comments on that one.

Bart
  • #59,033
  • Mar 24, 2010 3:25pm Mar 24, 2010 3:25pm
Quoting Dan Gilbert
I made a pic
And what does this smaller I2....8B's tell me?
  • #59,034
  • Mar 24, 2010 3:25pm Mar 24, 2010 3:25pm
Quoting benji533
2 hrs left for closing.
Hey Benji, just curious what broker you use to trade equities and what charting package that is?.. I haven't found a good charting package like that for equities.
Cap
  • #59,035
  • Mar 24, 2010 3:55pm Mar 24, 2010 3:55pm
Thanks Dan and bluetrader, really appreciate your answers. I saw FTA at 123 PPZ, and i was only considering this setup as demo trade, i was just curious if someone has another view on it, maybe someone else watching it, has something to add.. Thanks for sharing your views Sirs
  • #59,036
  • Mar 24, 2010 3:57pm Mar 24, 2010 3:57pm
I'm definitely shorting EURAUD from 1.4850 or below. PA would be nice confirmation but i think that pair is now in such a strong downtrend (hitting all time lows now) that its very tempting to jump in on from around 50% fib level (support turned resistance?). Target: 200+ pips.

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Thank you in advance for any comments.

Bart
  • #59,037
  • Mar 24, 2010 3:58pm Mar 24, 2010 3:58pm
Hi everyone,

I am new here.
Appreciate the great work.

Could anyone direct me to some message about how to trade i4b, i5b's?


Thanks,

Quoting mbqb11
Here ya go JCP

http://www.forexfactory.com/showpost...ostcount=15851

http://www.forexfactory.com/showpost...ostcount=33436


Best
Mike
  • #59,038
  • Mar 24, 2010 4:01pm Mar 24, 2010 4:01pm
Quoting neutro
Ok, so I have a little take on the EURJPY D & H4.

On the charts attached, I have pointed a H&S formation on the Daily. It's toped with a little pin (followed by a TBH) that has formed on the neckline.

On the H4 we have a BUOB that can signal the start of the upmove of the H&S.

I think I would wait for the break of 122.610 (medium PPZ, high of TBH), just to be sure.

It's a long shot, but maybe we'll see 126.80 tested again.
Nawry, take a look at the post above. That's how I saw it in the morning, that's how I see it now.

The H4 BUOB turned intro a Daily BUOB. It can be played, with some tight management. It's not A+ for sure, and it's not J16 in its purest form, but it's a way of viewing it.
  • #59,039
  • Mar 24, 2010 4:08pm Mar 24, 2010 4:08pm
Quoting PrincoPrinco
Hi everyone,

I am new here.
Appreciate the great work.

Could anyone direct me to some message about how to trade i4b, i5b's?


Thanks,
Hey Princo
I4Bs(like inside bars themselves) can be trade much like the other patterns here. By that I mean determining locations that would warrant for an Inside bar to work. Some people will place buy order above, and sell order below(known as a straddle with their stops on the other side). Others will pick a direction. For example if an inside bar is sitting on support you play it long only. These bars are showing consolidation and a shrinking in range. The more something shrinks the more it tends to break out and gain momentum(generally in markets).

Hope this helps a bit
Mike

Here are some more posts
http://www.forexfactory.com/showpost...&postcount=164
http://www.forexfactory.com/showthre...ar#post2382403
  • #59,040
  • Mar 24, 2010 4:12pm Mar 24, 2010 4:12pm
Thanks a lot mate.

Quoting mbqb11
Hey Princo
I4Bs(like inside bars themselves) can be trade much like the other patterns here. By that I mean determining locations that would warrant for an Inside bar to work. Some people will place buy order above, and sell order below(known as a straddle with their stops on the other side). Others will pick a direction. For example if an inside bar is sitting on support you play it long only. These bars are showing consolidation and a shrinking in range. The more something shrinks the more it tends to break out and gain momentum(generally in markets)....
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