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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

  • #64,261
  • May 19, 2010 3:35pm May 19, 2010 3:35pm
Quoting jarroo
Not sure which broker you are using but the IBFX feed seems to be the only one that the PB's Open and Close to be within the previous bar on the GU Daily PB from Monday and the only one that broke. Still the other broker PBs had a left eye by proxy that made them somewhat legitimate but they never broke. We always wait for the break.

So looking at the IBFX's PB, the size was just too small to counter the big downtrend that we are in. Look at the PB in blue, which is much bigger than Monday's, it was able to reach it 1st target but not able to...
Thanks alot, you have really make my day with that awesome explaination.
  • #64,262
  • May 19, 2010 3:38pm May 19, 2010 3:38pm
Hello every1

I dont see a lot of setups, but i like A LOT the pin forming on the Eur-Jpy, Daily TF. I think it's a Mike's style trade: lots of space, non traffic area close, just the VBRN 115,00 (the FTA), and almost a double bottom on the daily, and on the weekly. Maybe it can go even to 120,00.

Heres the chart for your comments

Best regards

Hector

PS: Just my thoughts, not an advise to do anything
Attached Image (click to enlarge)
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  • #64,263
  • May 19, 2010 3:38pm May 19, 2010 3:38pm
Quoting naser007
Hello my friends
i Open some Sell Position in GBPUSD at 1.4380
can your tell me when we can see GBPUSD price Bottom 1.4150 ??
and your think where go the GBPUSD ؟؟
Thanks
I hope you are not trading real money if you are asking these questions. If you want to learn how to trade then go to the first posts in this thread. When you have read the material open a demo account and learn how to trade price action.

cheers

fxp
  • #64,264
  • May 19, 2010 4:03pm May 19, 2010 4:03pm
A nice DBLHC/BEOB on the EURCAD daily. Too bad it didnt close above the 1.3 level or else i would of jumped in.
  • #64,265
  • May 19, 2010 4:04pm May 19, 2010 4:04pm
Quoting fxprocessor
I hope you are not trading real money if you are asking these questions. If you want to learn how to trade then go to the first posts in this thread. When you have read the material open a demo account and learn how to trade price action.

cheers

fxp

But Its Real Account and Real MOney
can you help me??
  • #64,266
  • May 19, 2010 4:08pm May 19, 2010 4:08pm
GBPJPY daily pin has formed at the 1.30 VBRN. The pin is not huge but I quite like the double bottom,

A head and shoulders has also just broken to the upside and I have taken this early entry with stop below the right shoulder.

As I am posting this price had dropped 20 pips or so but I think there is a very good chance there could be a break of the pin and a decent little run up from here. If not.... I lose this time and wait for the next trade

cheers

fxp
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpjpy daily.gif Size: 19 KB
  • #64,267
  • May 19, 2010 4:10pm May 19, 2010 4:10pm
Pros


Daily PB off 130 RN
Close above 132 RN

Cons

CT
traffic
Wkly TF trend is lower
no fibs no TL no ema no div
no room to move...would be a scalp...not worth the risk

IMO NO TRADE for me ....Oh well
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  • #64,268
  • May 19, 2010 4:27pm May 19, 2010 4:27pm
Quoting fxprocessor
GBPJPY daily pin has formed at the 1.30 VBRN. The pin is not huge but I quite like the double bottom,

A head and shoulders has also just broken to the upside and I have taken this early entry with stop below the right shoulder.

As I am posting this price had dropped 20 pips or so but I think there is a very good chance there could be a break of the pin and a decent little run up from here. If not.... I lose this time and wait for the next trade

cheers

fxp
Also a trendline break.

Target as per head and shoulders projection but with a little bit chopped off due to the swing high I highlighted. This takes it just below the next BRN. If I have a bit of luck and a following wind......
Attached Image (click to enlarge)
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  • #64,269
  • May 19, 2010 4:31pm May 19, 2010 4:31pm
Quoting naser007
But Its Real Account and Real MOney
can you help me??

Hopefully you did not lose too much. You should not be trading real money if you have no strategy. Unless you enjoy gambling.

Read my last post again please. Sorry if this is not helpfull but it is intended to be. I wish you well.
  • #64,270
  • May 19, 2010 4:34pm May 19, 2010 4:34pm
Quoting fxprocessor
GBPJPY daily pin has formed at the 1.30 VBRN. The pin is not huge but I quite like the double bottom,

A head and shoulders has also just broken to the upside and I have taken this early entry with stop below the right shoulder.

As I am posting this price had dropped 20 pips or so but I think there is a very good chance there could be a break of the pin and a decent little run up from here. If not.... I lose this time and wait for the next trade

cheers

fxp

Nice one, in this pair (gbp-jpy), the double bottom actually IS a double bottom, and in the (eur-jpy) you have to zoom it out a lot, and then it seems a double bottom (lol) What i like in the last one is the wiiiiiiiide space Mike talks about. if the pin gets triggered, and can make it through the 115,00. maybe it can take advantage of this space.
Lets see what happens, both pairs seems correlated, so the pins should work on both pairs with the same move.
Best for all
Hector
  • #64,271
  • May 19, 2010 4:42pm May 19, 2010 4:42pm
Quoting fxprocessor
Also a trendline break.

Target as per head and shoulders projection but with a little bit chopped off due to the swing high I highlighted. This takes it just below the next BRN. If I have a bit of luck and a following wind......
Wow!!!, nice analysis. I saw a video a time ago, where the trader used this kind of trendlines - i thought people didn't used here, but i see now i was wrong - and when price broke a trendline, the breakout point acted in many cases as support (in cases like this one), and the next target was the previous high, i think is just the way you think on this trade
Like it a lot
Best
Hector
  • #64,272
  • May 19, 2010 4:44pm May 19, 2010 4:44pm
Quoting fxprocessor

Target as per head and shoulders projection but with a little bit chopped off due to the swing high I highlighted. This takes it just below the next BRN. If I have a bit of luck and a following wind......

One last perspective.

A bit of room before next TL hit. My target is also a clear point on the daily chart.
Attached Image (click to enlarge)
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  • #64,273
  • May 19, 2010 4:47pm May 19, 2010 4:47pm
I am looking for a chance to add more to my AUD/USD,AUD/JPY,NZD/USD, and NZD/JPY Long.
Dr. C
  • #64,274
  • May 19, 2010 4:48pm May 19, 2010 4:48pm
Quoting WizardPip
Wow!!!, nice analysis. I saw a video a time ago, where the trader used this kind of trendlines - i thought people didn't used here, but i see now i was wrong - and when price broke a trendline, the breakout point acted in many cases as support (in cases like this one), and the next target was the previous high, i think is just the way you think on this trade
Like it a lot
Best
Hector

I try to look for what other traders see and will help push price in the desired direction. Does not always work but it's my favoured style. Price action James 16 style is the essential ingredient though.

cheers

fxp
  • #64,275
  • May 19, 2010 5:00pm May 19, 2010 5:00pm
Quoting WizardPip
What i like in the last one is the wiiiiiiiide space Mike talks about. if the pin gets triggered, and can make it through the 115,00. maybe it can take advantage of this space.

Hector

I am not so sure Mike would say this has alot of space....Mike could we have your opinion?
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  • #64,276
  • May 19, 2010 5:00pm May 19, 2010 5:00pm
Quoting fxprocessor
One last perspective.

A bit of room before next TL hit. My target is also a clear point on the daily chart.
Looking at those previous Lows, may free trade it if it hits.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #64,277
  • May 19, 2010 5:02pm May 19, 2010 5:02pm
Quoting Atc
I am not so sure Mike would say this has alot of space....Mike could we have your opinion?
Mike is an easy pass on this one. I'm trading it very tight. Not a full position.
Indicators show the past. Price Action "Indicates" the future.
  • #64,278
  • May 19, 2010 5:04pm May 19, 2010 5:04pm
Thanks Big Jarroo ---forever learning

Quoting jarroo
Mike is an easy pass on this one. I trading it very tight. Not a full position.
  • #64,279
  • May 19, 2010 5:06pm May 19, 2010 5:06pm
Quoting Atc
Thanks Big Jarroo ---forever learning
I do like the double bottom, off the 130, but your right, not alot of space and very small PB. Not what we look for when searching for A+ trades.
Indicators show the past. Price Action "Indicates" the future.
  • #64,280
  • May 19, 2010 5:09pm May 19, 2010 5:09pm
Quoting Atc
Thanks Big Jarroo ---forever learning
These bar Lows (in blue) are holding it down.
Attached Image (click to enlarge)
Click to Enlarge Name: guj19a.gif Size: 23 KB
Indicators show the past. Price Action "Indicates" the future.
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