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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

  • #64,801
  • May 25, 2010 10:57pm May 25, 2010 10:57pm
Quoting mbqb11
Hey N

Well managed trade. Like you said a longer nose would be more ideal, but that isn't to say that people won't trade these bars with great success, swing low, divg, and you managed it perfectly.

As for h4, it is certainly lower timeframe, but it is up to you what you demo. I just have to re-post this as I think it is very important and agree with it.
http://www.forexfactory.com/showpost...2&postcount=31

Best
Mike
Mike,

Thanks for the encouragement. I am trying to be picky and this does not come easily to me. So I guess I have practice restraint.

Cheers,
Novice198
  • #64,802
  • May 25, 2010 11:02pm May 25, 2010 11:02pm
Quoting joelcf
You are trading into alot of traffic, and there is an argument that you possibly missed an earlier PPZ there and that the pin wasnt that strong, but I think the basics are pretty solid here. You picked out a bar, a location, a TP, waited for a confirmed entry and then executed your plan. SO that's a win in my books



Next time, just say mike/jaroo/bundy
Joe,

I agree not the best of the setups, may be B++ due to the "traffic". Will exercise more restraint in future.

Agree with you that the current experts on the Forum are Bundy, Jarroo, Mike (the naming order is alphabetical only) but one never knows, there could be one in making.

Cheers,
Novice 198
  • #64,803
  • May 25, 2010 11:16pm May 25, 2010 11:16pm
Quoting Jonnyislost
Not one I took, but a nice example of a breakout/pullback setup with PA

Too bad this pair is so choppy recently

Short would be taken on the break of the BEOB
What appears to be a BEOB at a swing low is really something different when we see the bigger picture. or what Mike would say " the story that's being told" . . . A wedge break out/ pullback with PA.

Nice work Jonnyisfound. I'm sure Mike would agree. ( although I haven't read far enough to see if Mike commented on this one. lol )
Indicators show the past. Price Action "Indicates" the future.
  • #64,804
  • May 25, 2010 11:27pm May 25, 2010 11:27pm
Quoting jarroo
What appears to be a BEOB at a swing low is really something different when we see the bigger picture. or what Mike would say " the story that's being told" . . . A wedge break out/ pullback with PA.

Nice work Jonnyisfound. I'm sure Mike would agree. ( although I haven't read far enough to see if Mike commented on this one. lol )
yep this is an effective way to combine all the pieces James talks about, price bars+location, s/r(ppz), price patterns(breakout) and an understanding of where price should go. Nice little story
  • #64,805
  • May 25, 2010 11:30pm May 25, 2010 11:30pm
the market really shouldn't ever catch us by surprise in my opinion. You are either reacting proactively or you are reacting defensively
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  • #64,806
  • May 25, 2010 11:33pm May 25, 2010 11:33pm
Quoting mbqb11
yep this is an effective way to combine all the pieces James talks about, price bars+location, s/r(ppz), price patterns(breakout) and an understanding of where price should go. Nice little story
Its funny looking back at some of my real early trades and seeing the complete story of why some of them worked out.. . . "' Holy crap! that was a HUGE breakout pull back and I didn't even know it . . lol" I do now . .

Thanks Mike.
Indicators show the past. Price Action "Indicates" the future.
  • #64,807
  • May 25, 2010 11:41pm May 25, 2010 11:41pm
Quoting Pinbar
In the meantime I missed this USD/CAD DBLHC..

Still, I am starting to notice I even missed them., must be a tiny bit of progress.

Yes it is . . . progress. Wait until you see and take an A+ setup and still have a loss . . Doh . That's why demo is so important.

Keep it going Pb.
Indicators show the past. Price Action "Indicates" the future.
  • #64,808
  • May 26, 2010 12:37am May 26, 2010 12:37am
Hi guys!

What about EURJPY piercing 110? Mike?
  • #64,809
  • May 26, 2010 1:13am May 26, 2010 1:13am
I have been reading this thread since 3 weeks ( more than 8 hrs daily ) and it is definitely extremely valuable. I´d like to thank Jarroo especially, his clear and concise charts have turned my trading around 100%.

One of the " real eyeopeners " for me is the gradual understanding of the word confluence -

a) used in Jim`s sense of PPZ, PA bars/candles, Fibs, Space....etc., all of them lining up to qualify for a setup.

b) additionally as I see it in SeekingLight´s ( or raczek`s ) charts, the " progression " of price. What happens after a PB/BUOB is detected, not just immediately after, but throughout several days or weeks ?

c) understanding a higher TF setup by breaking it up in lower TF`s ( jarroos master teaching skill , also see rustyjeff and bundyraider ).

Once again thank you, I look forward to contributing in the future.

Be like water.
  • #64,810
  • May 26, 2010 1:15am May 26, 2010 1:15am
Quoting conan
Hi guys!

What about EURJPY piercing 110? Mike?
Hey Conan

It is something I certainly was watching but it just didn't penetrate it deep enough to catch my interest(ala bar size and weak close). So nice area showing demand but not enough to tip the hand off for me yet. So now I am focused on the 130 on the gbp/jpy so if price does move higher I may be able to hunt an entry else where that meets my criteria.

Best

Mike
  • #64,811
  • May 26, 2010 1:15am May 26, 2010 1:15am
Quoting msmarple
I have been reading this thread since 3 weeks ( more than 8 hrs daily ) and it is definitely extremely valuable. I´d like to thank Jarroo especially, his clear and concise charts have turned my trading around 100%.

One of the " real eyeopeners " for me is the gradual understanding of the word confluence -

a) used in Jim`s sense of PPZ, PA bars/candles, Fibs, Space....etc., all of them lining up to qualify for a setup.

b) additionally as I see it in SeekingLight´s ( or raczek`s ) charts, the " progression " of price. What happens...
Welcome Msmarple

Keep at it things will only become clearer over the months/years

Mike
  • #64,812
  • May 26, 2010 1:50am May 26, 2010 1:50am
Thanks Mike!

I thought something like this ...
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  • #64,813
  • May 26, 2010 3:51am May 26, 2010 3:51am
Quoting mbqb11
Welcome Msmarple

Keep at it things will only become clearer over the months/years

Mike
Thanks Mike. Great people here..

( yes true, I`m in for another 100 years at least.... )
Be like water.
  • #64,814
  • May 26, 2010 4:43am May 26, 2010 4:43am
LOL
Just seen a video on youtube.

He advises going short on the Dow Jones.
Well he is probably right but one of the chart signs he uses is where he points out a big bullish pin bar from yesterday.
He says about this candle - I quote.
"Its a hammer like sort of thing, but the wick is too long and it has still got sell pressure mixed in it."
  • #64,815
  • May 26, 2010 4:57am May 26, 2010 4:57am
I do not think that the dj pinbar yesterday is good
  • #64,816
  • May 26, 2010 5:00am May 26, 2010 5:00am
Quoting jarroo
Yes it is . . . progress. Wait until you see and take an A+ setup and still have a loss . . Doh . That's why demo is so important.

Keep it going Pb.

Thanks Jarroo

I just took this BEOB on USD/CAD on Demo, making sure 1% risk
BEOB broke the weekly PPZ, Next bar broke the 50 fibo, PPZ and the 38.2 & trendline. Size of the bars are not very good.
PPZ is getting tested as I right this.
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  • #64,817
  • May 26, 2010 5:24am May 26, 2010 5:24am
Quoting extraneo
I do not think that the dj pinbar yesterday is good
i think so, too.
BUT we wrote the word "think". so which facts do we have NOT to trade this pinbar? this is no offense, i'm just looking for facts vs stomach...
meine augen sind die sterne
  • #64,818
  • May 26, 2010 5:47am May 26, 2010 5:47am
Quoting Pinbar
Thanks Jarroo

I just took this BEOB on USD/CAD on Demo, making sure 1% risk
BEOB broke the weekly PPZ, Next bar broke the 50 fibo, PPZ and the 38.2 & trendline. Size of the bars are not very good.
PPZ is getting tested as I right this.
Hi Pinbar,

I am using IBFX to be inline with what Mike is using and I do not see any BEOB on USD CAD as shown on your H4 chart. Which feed do use. On my chart there are two bearish PB for the last two bars, but there is lot of 'traffic" and as such have passed the trade.
The fibs and TL break on my chart are close your observation.
Cheers
Novice198
  • #64,819
  • Edited 6:03am May 26, 2010 5:49am | Edited 6:03am
Quoting novice198
Hi Pinbar,

I am using IBFX to be inline with what Mike is using and I do not see any BEOB on USD CAD as shown on your H4 chart. Which feed do use. On my chart there are two bearish PB for the last two bars, but there is lot of 'traffic" and as such have passed the trade.
The fibs and TL break on my chart are close your observation.
Cheers
Novice198

This is FXDD feed.

Yes, there is a fair bit of traffic but I think it may pop.
the PPZ has been tested and held and the 38.2 just broke.

I shall watch it carefully, it is not the kind of trade I would take a full bar loss on.


Moved SL to 6 pips above the 50 fibo.
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  • #64,820
  • May 26, 2010 6:05am May 26, 2010 6:05am
Quoting aserbfx
i think so, too.
BUT we wrote the word "think". so which facts do we have NOT to trade this pinbar? this is no offense, i'm just looking for facts vs stomach...
I expressed my opinion...
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