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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

  • #65,941
  • Edited 4:52pm Jun 10, 2010 2:50pm | Edited 4:52pm
I don't think I ever addressed a post to you personally and I did mean to several times but never quite found the words. It was going to be a carefully thought out post.

Anyway I know that's probably not your style and it's not mine so here goes. When I started in this game I was confident I would get to grips fairly quickly and no, I didn't need any help. Two years in and I was only vaguely getting the feel of it. I kept seeing references to this thread which is coming up to a 5 years celebration now, but you know what pride is and I thought I didn't need it.

I see this insolent pride in new traders all the time and possibly that could be a necessary trait but that's another story. This is just to say thank you for putting me on the right track when I needed it. You didn't have to put out that knowledge, those charts. It was lot of work and was much appreciated here.

There. Now we can have a beer.

MikeH
Gone to a better place
  • #65,942
  • Jun 10, 2010 7:13pm Jun 10, 2010 7:13pm
Anyone played this BUOB which covered 2 BRNs on Aussie? I passed it because it didn't look like it has a lot of space, but if anyone played it, it worked out real nice hitting 0.85 for 200 pips. Just wondering now if it will repeat the bearish move like what little pin on 28th May did as the 365 EMA is still on top giving a bearish pressure. On the other hand, double bottom has just formed, but a triple bottom or even a range is possible.

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  • #65,943
  • Jun 10, 2010 7:18pm Jun 10, 2010 7:18pm
Quoting fxeturn
Anyone played this BUOB which covered 2 BRNs on Aussie? I passed it because it didn't look like it has a lot of space, but if anyone played it, it worked out real nice hitting 0.85 for 200 pips. Just wondering now if it will repeat the bearish move like what little pin on 28th May did as the 365 EMA is still on top giving a bearish pressure. On the other hand, double bottom has just formed, but a triple bottom or even a range is possible.

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looked like a good one
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  • #65,944
  • Jun 10, 2010 7:26pm Jun 10, 2010 7:26pm
Quoting fxeturn
Anyone played this BUOB which covered 2 BRNs on Aussie? I passed it because it didn't look like it has a lot of space, but if anyone played it, it worked out real nice hitting 0.85 for 200 pips. Just wondering now if it will repeat the bearish move like what little pin on 28th May did as the 365 EMA is still on top giving a bearish pressure. On the other hand, double bottom has just formed, but a triple bottom or even a range is possible.

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Yeah. Played as range trade with full TP at intermediate high (Or short of). Waiting to see if it breaks that intermediate high now.
Bundy's status today: "Waiting..."
  • #65,945
  • Jun 10, 2010 7:34pm Jun 10, 2010 7:34pm
Quoting jarroo
Its good that your looking through the charts and seeing how Price moves and behaves, Pb.

But let me ask you on your 4 hour chart, is there a setup that just really stands out . . like Mike's 3 PA setups on the Monthly. Anything you see on the 4 hour like that?

Oops, must have missed this post.

I will, look into it.

I detect a hint of, "Are you overdoing it & going off track?"


I take it you mean this chart?
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  • #65,946
  • Jun 10, 2010 7:44pm Jun 10, 2010 7:44pm
Quoting Pinbar
Oops, must have missed this post.

I will, look into it.

I detect a hint of, "Are you overdoing it & going off track?"
You've been been having a pretty intense learning period there mate. lol

Don't worry, it'll all fall into place better when you the learning slows down.
Bundy's status today: "Waiting..."
  • #65,947
  • Jun 10, 2010 8:09pm Jun 10, 2010 8:09pm
Quoting bundyraider
You've been been having a pretty intense learning period there mate. lol

Don't worry, it'll all fall into place better when you the learning slows down.

Yes, I think you are right Bundy.

It is hard to believe it will all fall into place right now.

I feel almost as I did when I was a kid and took my fathers prized clock apart, with all the pieces on the floor in front of me, when I realized I had become so involved with taking it apart, I forgot to even think about where everything went. LoL

Still, I got it back together again.



I can't imagine you guys having ever spun your wheels.

What was your learning experience like Bundy?
  • #65,948
  • Jun 10, 2010 8:45pm Jun 10, 2010 8:45pm
Quoting Pinbar
Yes, I think you are right Bundy.

It is hard to believe it will all fall into place right now.

I feel almost as I did when I was a kid and took my fathers prized clock apart, with all the pieces on the floor in front of me, when I realized I had become so involved with taking it apart, I forgot to even think about where everything went. LoL

Still, I got it back together again.



I can't imagine you guys having ever spun your wheels.

What was your learning experience like Bundy?
The major learning of technicals was a decade ago, so it's hard to remember how that part was in an honest way. lol

I started with price action (head and shoulder patterns etc) supplementing fundamentals on stocks. Then wandered off and went through a phase of trying to learn indicators and so on, like many.

Seeing patterns comes very natural to me, so that parts always been easy for me to pick up.

Over the years I've had my fill of struggling with over-complicating things, over trading, over-confidence, under-confidence, miss-matched methods and many and ALL of the classic frustrating trader problems.
Bundy's status today: "Waiting..."
  • #65,949
  • Jun 10, 2010 9:02pm Jun 10, 2010 9:02pm
Quoting bundyraider
The major learning of technicals was a decade ago, so it's hard to remember how that part was in an honest way....

Appreciate the honesty Bundy, thanks.

It is good for new people like myself to hear these things as we just imagine, you guys were given a ticker tape to play with at 3 years of age.

Many thanks.
  • #65,950
  • Jun 10, 2010 9:14pm Jun 10, 2010 9:14pm
Quoting bundyraider
....
Seeing patterns comes very natural to me, so that parts always been easy for me to pick up....
why so?
are u just wired that way as a person (gift/talent/genes), or did u learn about patterns in your life journey (job/business/family etc)?
or both?
just curious... Thanks!
  • #65,951
  • Edited 11:08pm Jun 10, 2010 10:54pm | Edited 11:08pm
Hey guys, just started to demo the daily charts using the James16 material. Here is a DHLC I found on the USD/JPY daily. Good set up? Does the PPZ at 92.80 make this trade a little sketchy or would you take it and TP at the PPZ and set your SL to BE?
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  • #65,952
  • Jun 10, 2010 11:19pm Jun 10, 2010 11:19pm
well sir i appreciate your kind words.

the truth is ive been blessed by this little journey as much or more than anyone that has ever stumbled over this thread.

its changed my view of the world, made friends from every corner of the globe and learned more things about myself than i thought possible.

its posts like yours that literally leave me speechless and in awe of what has taken place over the last 5 years.

i apprecate you all,

jim





Quoting smikester
I don't think I ever addressed a post to you personally and I did mean to several times but never quite found the words. It was going to be a carefully thought out post.

Anyway I know that's probably not your style and it's not mine so here goes. When I started in this game I was confident I would get to grips fairly quickly and no, I didn't need any help. Two years in and I was only vaguely getting the feel of it. I kept seeing references to this thread which is coming up to a 5 years celebration now, but you know what pride is and I thought...
  • #65,953
  • Jun 10, 2010 11:59pm Jun 10, 2010 11:59pm
Quoting forexben
Hey guys, just started to demo the daily charts using the James16 material. Here is a DHLC I found on the USD/JPY daily. Good set up? Does the PPZ at 92.80 make this trade a little sketchy or would you take it and TP at the PPZ and set your SL to BE?
Hey Ben

The 92.80ish area would be a perfect place to do "something". Be it move to b/e, take full profit, reduce your stop etc. There isn't necessarily the right answer here. But the key is if price reversed there would we know why? The answer is a big yes, and that is where the building blocks will start

Mike
  • #65,954
  • Jun 11, 2010 1:02am Jun 11, 2010 1:02am
Quoting jarroo
Its good that your looking through the charts and seeing how Price moves and behaves, Pb.

But let me ask you on your 4 hour chart, is there a setup that just really stands out . . like Mike's 3 PA setups on the Monthly. Anything you see on the 4 hour like that?




1: Is at a great area and the BEOB spans 4 candles right off the 0.7000 RN.
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  • #65,955
  • Jun 11, 2010 1:07am Jun 11, 2010 1:07am
Quoting Pinbar
1: Is at a great area and the BEOB spans 4 candles right off the 0.7000 RN.
ahh I had a sigh of relief for you when you posted this chart. I can see the light getting brighter for you

Mike
  • #65,956
  • Jun 11, 2010 1:17am Jun 11, 2010 1:17am
Here is a pin on the daily GPB/USD. It's looks pretty good at first glance. It's at a swing low, good size with plenty of space.

If you look a bit closer, the open and close are JUST squeezing into the top third of the pin. The main worry though is that its going to run into multiple PPZ's and the BRN of 1.5000.
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  • #65,957
  • Jun 11, 2010 1:22am Jun 11, 2010 1:22am
Quoting forexben
Here is a pin on the daily GPB/USD. It's looks pretty good at first glance. It's at a swing low, good size with plenty of space.

If you look a bit closer, the open and close are JUST squeezing into the top third of the pin. The main worry though is that its going to run into multiple PPZ's and the BRN of 1.5000.
yep very nice ben, I can never convince myself to trade into those round numbers like that with that type of bar, in rare circumstances it is just too good to pass up and a matter of pips and you can place your buy above the round number and use it for mgmt. But in a case like that you are better of waiting for a bar to close above the round number and enter on a pullback to the round number.

Mike
  • #65,958
  • Jun 11, 2010 1:28am Jun 11, 2010 1:28am
Quoting nasir.khan
Not every time but It will help especially in situation like this where we are dealing with a tight range.

So your PA bar's close should be sticking out if the range. ( which is not the case with UChf and you can see the effect)

If that 4H Beob had closed below that MA we would've been sitting somewhere near 1.1270. lol

EJ-4H

That's not a tradable PB.

But a BUOB like that (see chart) at the retest of TL and BRN would be interesting.

Ok gotta go.

See ya later.
.

Damn nasir ! That's pretty good. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #65,959
  • Jun 11, 2010 1:30am Jun 11, 2010 1:30am
Quoting jarroo
Damn nasir ! That's pretty good. lol
  • #65,960
  • Jun 11, 2010 1:31am Jun 11, 2010 1:31am
Quoting mbqb11

I know you saw it coming to Mike.

Let me ask you Mike, how many times have you seen this senario play out like this ?
Indicators show the past. Price Action "Indicates" the future.
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