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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

  • #75,861
  • Sep 28, 2010 10:37am Sep 28, 2010 10:37am
Quoting 666Doom
I saw that,Mike,thanks to you,the very thing we were discussing tomorrow comes in handy to me today.
So that's how Mike does it!!! A time machine
  • #75,862
  • Edited 10:54am Sep 28, 2010 10:54am | Edited 10:54am
Quoting Dan Gilbert
I took a full loss on the EURGBP i4b straddling 0.8500...

I really thought that setup looked too ideal to be true haha.... These markets lately have been unbelievable. This is the first failed I4B on a VBRN that I have traded.
Dont worry Dan. It was probably my fault. I took the trade and as i said before i dont trade IBs. Guess i brought bad luck. loll

But wait a minute, isnt it supposed that someone has good luck at first, thats why there exist a phrase beginners luck
  • #75,863
  • Sep 28, 2010 10:54am Sep 28, 2010 10:54am
Quoting Jonnyislost
New stocks

ACLS - Breakout and retest of Descending trendline and Horizontal support, with Bullish PA

HA - Restest of Horizontal PPZ and Descending trendline with Bearish PA, In a downtrend

Edit; I've been trying to keep a roughly even number of Longs and Shorts with the Equities, so that I am somewhat hedged in the event of a major move in the stock market either in either direction

ACLS - Performed very nicely
HA - Never triggered
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  • #75,864
  • Sep 28, 2010 10:58am Sep 28, 2010 10:58am
Quoting fxprocessor
My intuition had me closing a GBPCHF long for a half bar loss yesterday and it would be in profit now....
Well your intuition is still not bad, look at where is GBPCHF now! Waaaay lower than the yesterdays low.

Quoting fxprocessor
I generally make more than I lose so it's all good though
thats what counts, right
  • #75,865
  • Sep 28, 2010 11:09am Sep 28, 2010 11:09am
Quoting novice198
...
Someone had mentioned that he/she uses Finviz...
JonnyisFound does.
  • #75,866
  • Sep 28, 2010 11:18am Sep 28, 2010 11:18am
Quoting novice198
Hi ddinnov,


Someone had mentioned that he/she uses Finviz for scanning the US Stocks for J16 setups. I am trying to use same but without success. Are you using Finviz, if affirmative, can you pls elaborate the process of scanning. We can go offline and discuss this on PM if you so desire.

Novice198
Quoting supremeChaos
JonnyisFound does.http://cdn.forexfactory.com/images/s.../yim/happy.gif

Yeah Maybe it was me Novice,
I made some posts a while back about how I scan using finviz,
hope it helps

http://www.forexfactory.com/showpost...ostcount=74312
http://www.forexfactory.com/showpost...ostcount=74316

Jonny
  • #75,867
  • Sep 28, 2010 11:21am Sep 28, 2010 11:21am
Quoting Dan Gilbert
I took a full loss on the EURGBP i4b straddling 0.8500...

I really thought that setup looked too ideal to be true haha.... These markets lately have been unbelievable. This is the first failed I4B on a VBRN that I have traded.
same here Dan; was a couple of pips short of hitting TP then went up all the way to SL......you can't win them all just win enough........lol
  • #75,868
  • Edited Sep 29, 2010 10:39am Sep 28, 2010 12:10pm | Edited Sep 29, 2010 10:39am
Quoting The Lord
I am just in. Lets see how it plays out! Nice trend, rejected off BRN and closing below the zone.
I used the small insider bar just after that pin-like structure for the trigger.

Attachment
Feels good to see that some experience traders took the same trade

Looks like a fakkey
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  • #75,869
  • Sep 28, 2010 12:36pm Sep 28, 2010 12:36pm
Quoting fxprocessor
So that's how Mike does it!!! A time machine
LOL I wish bud
  • #75,870
  • Sep 28, 2010 1:08pm Sep 28, 2010 1:08pm
Quoting mbqb11
LOL I wish bud

  • #75,871
  • Sep 28, 2010 1:13pm Sep 28, 2010 1:13pm
Quoting james16
charts
Jim,

Will you stop posting this chart plse - ur making me nervous - I'm short lol.

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  • #75,872
  • Sep 28, 2010 1:29pm Sep 28, 2010 1:29pm
Quoting ertorque
same here Dan; was a couple of pips short of hitting TP then went up all the way to SL......you can't win them all just win enough........lol
Yeah it sucks.... I was only going for 22 pips to a free trade and price couldn't even get to THAT.... big fail.
Many choose unhappiness over uncertainty.
  • #75,873
  • Sep 28, 2010 2:08pm Sep 28, 2010 2:08pm
Quoting fxprocessor
So that's how Mike does it!!! A time machine
I wish mike leases his time machine to me,he knows everything.
  • #75,874
  • Sep 28, 2010 2:21pm Sep 28, 2010 2:21pm
Hi

I think this one is an interesting setup. Buy stop order above the 1.33 level could make some money for new trousers
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  • #75,875
  • Sep 28, 2010 3:10pm Sep 28, 2010 3:10pm
What about this pinbar forming?..... its too small or playable??
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  • #75,876
  • Sep 28, 2010 3:17pm Sep 28, 2010 3:17pm
Quoting Arnaldo
What about this pinbar forming?..... its too small or playable??

What confluence do you see?
  • #75,877
  • Sep 28, 2010 3:24pm Sep 28, 2010 3:24pm
Quoting fxprocessor
What confluence do you see?
actually is right above of s/r 1.62......
  • #75,878
  • Sep 28, 2010 4:19pm Sep 28, 2010 4:19pm
Quoting Arnaldo
actually is right above of s/r 1.62......

My question of "What confluence do you see?" is the question I ask myself when looking at a potential trade. I would say the pin by itself is not something I personally would take (too small for me) but if you have identified multiple areas of confluence you may see it as a trade worth looking at.

It may work out anyway and drop hard but we like to put probabilitity on our side.

cheers

fxp
  • #75,879
  • Sep 28, 2010 4:36pm Sep 28, 2010 4:36pm
Quoting fxprocessor
My question of "What confluence do you see?" is.....

fxp
if you consider the blue line as a old time s/r is not very bad location but definitely the size is not ok.....
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  • #75,880
  • Sep 28, 2010 4:48pm Sep 28, 2010 4:48pm
Quoting Arnaldo
if you consider the blue line as a old time s/r is not very bad location but definitely the size is not ok.....
1.62 is a very large pivot that it is trading into. So overall a crowded/traffic pinbar in my eyes, with not much more in the way of confluence. Does that make it untradeable? Not necessarily depends on the trader. But where is price likely to have trouble? 1.62 would be a good starting point for sure

Best
Mike
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