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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

  • #74,881
  • Sep 15, 2010 11:40am Sep 15, 2010 11:40am
Quoting ekling
Am i the only one in on this one? Not the strongest BUOB but i like the location and the massive confluence. I also like that the bar closed above brn. Im aware of the trouble areas and im gonna try to move my stop if price stall there. If i can i will try to hold this one for a while, i like the fact that we're now in an uptrend and i belive price just formed its first major swing low in this uptrend.
Nice one ekling. Also a breakout of some daily consolidation, indicated by that BUOB.
Indicators show the past. Price Action "Indicates" the future.
  • #74,882
  • Sep 15, 2010 11:51am Sep 15, 2010 11:51am
Quoting dfumagalli
@Too many to list: a big thank you! I can use some injections of hope

I'd have another question since daily and weekly are not my "usual" 4h thing. How much time would I usually have to react on daily?

I.e. I see a pin bar, A+ setup blah blah. Shall I wait for the right "ear" to form before entering trade? How long would it usually take for that to form? 4-5 hours?

Thanks again
Hey D

Once the bar closes you can place your pending orders. So my daily bar closes at 5pm est so my orders go in at 5pm est on the close

Best
Mike
  • #74,883
  • Sep 15, 2010 12:09pm Sep 15, 2010 12:09pm
Quoting mbqb11
Hey D

Once the bar closes you can place your pending orders. So my daily bar closes at 5pm est so my orders go in at 5pm est on the close

Best
Mike
Ok I understood half it . Do you place the pending orders on the pin bar close (the long bar) or the close of the one to its right (I call it "right ear")?

Yeah if sound like I am dense like concrete, it's because I am.
  • #74,884
  • Sep 15, 2010 12:11pm Sep 15, 2010 12:11pm
Quoting dfumagalli
Ok I understood half it . Do you place the pending orders on the pin bar close (the long bar) or the close of the one to its right (I call it "right ear")?

Yeah if sound like I am dense like concrete, it's because I am.
Not dense at all my friend

I place it on the actual close of the bar. SO when we refer to a pinbar, that is the long bar, when that closes my orders go in

Mike
  • #74,885
  • Sep 15, 2010 12:20pm Sep 15, 2010 12:20pm
Quoting raczekfx
It's just a couple of trades...

September is overall a very good month. Liquidity is back...
.
the king of the yens for sure
  • #74,886
  • Sep 15, 2010 12:23pm Sep 15, 2010 12:23pm
Question on the yen moves. For those of us who spend most of our time on daily/weekly, should we be more cautious trading today's closes knowing the BOJ intervention? It there more risk that some of these strong bars are in for quick reversals.

My plan is currently to trade the UJ at close (assuming there's not a strong rejection).
  • #74,887
  • Sep 15, 2010 12:34pm Sep 15, 2010 12:34pm
Quoting mbqb11
Not dense at all my friend

I place it on the actual close of the bar. SO when we refer to a pinbar, that is the long bar, when that closes my orders go in

Mike
You gave me one of those AHA! moments.

I wish I could hug you thru the internets!
  • #74,888
  • Sep 15, 2010 1:12pm Sep 15, 2010 1:12pm
Quoting mbqb11
the king of the yens for sure
nuh... just got lucky...

king knows before things happen... I didn't.
  • #74,889
  • Sep 15, 2010 1:20pm Sep 15, 2010 1:20pm
Quoting Donkey
Question on the yen moves. For those of us who spend most of our time on daily/weekly, should we be more cautious trading today's closes knowing the BOJ intervention? It there more risk that some of these strong bars are in for quick reversals.

My plan is currently to trade the UJ at close (assuming there's not a strong rejection).
There will be no quick reversal Crosses will likely pull back, but don't count on reversal.
BoJ means business this time around. See you back @ 8%
  • #74,890
  • Sep 15, 2010 1:54pm Sep 15, 2010 1:54pm
Nice Fakkey Setup like Nial Fuller is teaching on his free videos. I like his videos very helpfull
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  • #74,891
  • Sep 15, 2010 2:19pm Sep 15, 2010 2:19pm
In all this BOJ/Yen excitement is anyone watching EUR/GBP on the daily?
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Anything can happen.
  • #74,892
  • Sep 15, 2010 2:27pm Sep 15, 2010 2:27pm
Quoting ddinnov
In all this BOJ/Yen excitement is anyone watching EUR/GBP on the daily?

One i got my eye on it to see if it closes strong

some good things about it are its

bouncing off resistance and round number at .8400

and in the direction of the down trend.

Just wish it had a little more space
  • #74,893
  • Sep 15, 2010 2:29pm Sep 15, 2010 2:29pm
Anyone on EUR/GBP 8H BEOB?
I thought the bar size was too small.
And FTA was close. (0,8310-15)
Looks like it is gonna work out nicely.

Regards
PP
  • #74,894
  • Sep 15, 2010 2:32pm Sep 15, 2010 2:32pm
*if* this turns into an IB I quite like a short to just above .7200?

*EDIT* - FTA at around .7250?
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Anything can happen.
  • #74,895
  • Sep 15, 2010 4:00pm Sep 15, 2010 4:00pm
Anyone in?
Don't give up
  • #74,896
  • Sep 15, 2010 4:32pm Sep 15, 2010 4:32pm
Quoting geomink
Anyone in?
The USDCAD still looks too choppy for me. A decent looking bar off of the 1.0300 level, but it is still in a lot of traffic and no real trend direction. Bearish pin at a swing low.

I am most interested in the EURUSD daily IB off the 1.3000 level. I think I will play this one long and hope to get up early enough to see if it breaks either way. I am not giving up on it going short either.

Also an IB on the USDCHF Daily chart, but I think this pair will chop around 1.0000 for a while.
  • #74,897
  • Sep 15, 2010 4:39pm Sep 15, 2010 4:39pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting unlv_tj
I am most interested in the EURUSD daily IB off the 1.3000 level. I think I will play this one long and hope to get up early enough to see if it breaks either way.

Also an IB on the USDCHF Daily chart, but I think this pair will chop around 1.0000 for a while.
unlv, do you get in at any break of the inside bar or at the break of the mother bar? For example, on the usd/chf, would you enter as soon as the recently closed bullish bar is breached? Or do you wait for the breach of the bearish mother bar? Thanks for your general IB strategy.
  • #74,898
  • Sep 15, 2010 4:58pm Sep 15, 2010 4:58pm
Quoting jdl
unlv, do you get in at any break of the inside bar or at the break of the mother bar? For example, on the usd/chf, would you enter as soon as the recently closed bullish bar is breached? Or do you wait for the breach of the bearish mother bar? Thanks for your general IB strategy.
I'm not an IB expert at all. Dan Gilbert has done a lot of back testing on them, he would be better to answer.

Personally on this trade I am taking the long break on the IB itself.

Oh hell, I checked and got the highs backwards in my previous testing. This is not a true IB, the high of today's bar is actually 3 pips higher than yesterday's high.

Scratch that trade.
  • #74,899
  • Sep 15, 2010 4:58pm Sep 15, 2010 4:58pm
I never thought the city of Toronto was such a cool place!!!
  • #74,900
  • Sep 15, 2010 5:54pm Sep 15, 2010 5:54pm
Quoting ddinnov
In all this BOJ/Yen excitement is anyone watching EUR/GBP on the daily?

I was watching this one a bit as well. I personally would have liked to see it actually climb up closer to BRN .85 before getting in. The bar traded into what I see as a decent PPZ at .8325 - which I have marked.

That's my 2 pennies, but shoud be taken with a kernel of corn.
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