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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

  • #81,941
  • Dec 8, 2010 5:15pm Dec 8, 2010 5:15pm
Quoting jarroo
I like that it broke and closed above the 111.00. . .good chance it will act as Support. Those previous bar Highs (blue) look good for your target.
Thanks jarroo
Always nice to see your opinion. Will keep that zone in my minde
  • #81,942
  • Dec 8, 2010 5:19pm Dec 8, 2010 5:19pm
Weekly BUOB on the Chf/Jpy.

Notice how Price could not close below the previous bar High on the Weekly BUOB . . . I love Outside Bars ..

Price closed above the 85.00 BRN and previous Resistance on the Daily . .maybe now this BUOB can begin to unfold.

I got your journel update Donkey . . ..
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Indicators show the past. Price Action "Indicates" the future.
  • #81,943
  • Dec 8, 2010 5:25pm Dec 8, 2010 5:25pm
Quoting Pinbar
GBP/NZD Monthly PB.

Took one third off at 150 pips +spread.

Looks like this one may be a runner.

Just moved the SL above the 2,09000 and below the weekly pivot and 365 EMA on H4.

Was your setup on the 4 Hour, Pb?
Indicators show the past. Price Action "Indicates" the future.
  • #81,944
  • Dec 8, 2010 5:37pm Dec 8, 2010 5:37pm
Quoting mbqb11
Hey Numen

The fire is burning strong welcome bud

Your bar is just barely a beob with the lower low then the previous bar....

Thanks Mike. As always your simplicity is unparalleled. PA has really changed my trading positively...hopefully in time, I'll be able to analyze the markets like you guys.
SNR with Price Action...
BitCrossNG Return Today: na
  • #81,945
  • Dec 8, 2010 5:43pm Dec 8, 2010 5:43pm
Quoting jarroo
Was your setup on the 4 Hour, Pb?

Yes, it was...I watched the H4 candle close above the BRN, the first candle to do so in over a month. The next candle open was above the RN, it tested the area and took off.


EDIT:

That Was the first candle to close above that area in over a month not a year.
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  • #81,946
  • Dec 8, 2010 5:46pm Dec 8, 2010 5:46pm
Took this today. Not the best pin, but for me it had good location and confluence; at a swing high off a trendline and it had double fib confluence also.

Two confirmed LH's showed there was momentum behind the move, even though the dominant trend is up. Showed nice rejection of price after a strong bull bar.

The only reasons i came up with to not take the trade was that the FTA was quite close and it went a against the dominant trend.

Am i on the right track with my analysis?

Price was 5 pips away from my 3rd target area, got out with +35 pips at full value. This time i didnt take partial profit, but chose to move my stop once each target area was reached.
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  • #81,947
  • Dec 8, 2010 5:48pm Dec 8, 2010 5:48pm
Quoting Pinbar
Yes, it was...I watched the H4 candle close above the BRN, the first candle to do so in over a year. The next candle open was above the RN, it tested the area and took off.

I like to see a close above previous Resistance occurr on a higher time frame but this also works . .nice job.

Why not move to break even or are you looking for a more long term play here?
Indicators show the past. Price Action "Indicates" the future.
  • #81,948
  • Edited 6:08pm Dec 8, 2010 5:57pm | Edited 6:08pm
Quoting jarroo
I like to see a close above previous Resistance occurr on a higher time frame but this also works . .nice job.

Why not move to break even or are you looking for a more long term play here?

Well, this H4 breakout got me into the Monthly PB break and looking at the weekly TF, we have a nice flip area that the daily candle may well close above in the next 4 mins. I want to give it a little more room than BE.


EDIT: Sorry. Still half asleep here....I actually traded 0.05 and took off 0.03 and moved the SL to less than the profit taken so, I am actually at BE already without moving the SL to the point of entry. If you see what I mean.
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  • #81,949
  • Edited Dec 9, 2010 12:34am Dec 8, 2010 6:12pm | Edited Dec 9, 2010 12:34am
Quoting dcart
Took this today. Not the best pin, but for me it had good location and confluence; at a swing high off a trendline and it had double fib confluence also.

Two confirmed LH's showed there was momentum behind the move, even though the dominant trend is up. Showed nice rejection of price after a strong bull bar.

The only reasons i came up with to not take the trade was that the FTA was quite close and it went a against the dominant trend.

Am i on the right track with my analysis?

Price was 5 pips away from my 3rd target area, got out with +35...

Excellent confluences on this one, dcart. If that PB was a bit bigger and pierced the 1.0000 (red dotted line) you would have had a Mike chart, video and road billboard on this one. . . lol (jk).

Fib levels, 50% ret. levels, trendlines are at their best when they confluence with PPZ levels and/or a Support / Resistance level. The area I have in white looked to be enough of a PPZ level to meet your confluences . .do you see that? . .very nice.

You can see the 1st target in blue gave you that breif retrace. . .better seen on the 4 hour TF. But it hit the obvious target, previous bar highs, quite nicely.

All in all, very nice indeed, dcart.
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Indicators show the past. Price Action "Indicates" the future.
  • #81,950
  • Dec 8, 2010 6:13pm Dec 8, 2010 6:13pm
Quoting Pinbar
Well, this H4 breakout got me into the Monthly PB break and looking at the weekly TF, we have a nice flip area that the daily candle may well close above in the next 4 mins. I want to give it a little more room than BE.


EDIT: Sorry. Still half asleep here....I actually traded 0.05 and took off 0.03 and moved the SL to less than the profit taken so, I am actually at BE already without moving the SL to the point of entry. If you see what I mean.

I see what you mean Pb . .very nice . .
Indicators show the past. Price Action "Indicates" the future.
  • #81,951
  • Dec 8, 2010 6:21pm Dec 8, 2010 6:21pm
Quoting jarroo
I see what you mean Pb . .very nice . .

Thanks Jarroo.

I suspect you also see something else.
That you will let me learn. LoL
  • #81,952
  • Dec 8, 2010 6:33pm Dec 8, 2010 6:33pm
XMZ, closed that EU H4 BUOB for a small profit as, I don't like the PA below this weekly pivot and the way it is reacting to the TL.
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  • #81,953
  • Dec 8, 2010 6:47pm Dec 8, 2010 6:47pm
Those charts have EVERYTHING: patience,trader psychology,chart+bars analyse,entry points with all the reasons,money management,fta,ppz,targets,but most important the plan.Those charts are priceless trading lessons and I don't have enought words to thank you!
Nothing personal,just business
  • #81,954
  • Dec 8, 2010 7:32pm Dec 8, 2010 7:32pm
Quoting fxgroup
Those charts have EVERYTHING: patience,trader psychology,chart+bars analyse,entry points with all the reasons,money management,fta,ppz,targets,but most important the plan.Those charts are priceless trading lessons and I don't have enought words to thank you!
Thanks FX, but you can have it all and things still not work out the way you hope

B/e on this one missed my t/p by 16 pts, such is trading

Mike
  • #81,955
  • Dec 8, 2010 7:40pm Dec 8, 2010 7:40pm
Quoting Kalbar
Mike

Thanks for the excellent chart - you make it look easy, but I know that it's not (for me anyway!). Just one question - would you consider the bars to the left to be 'traffic'? I am trying to learn the principles of space and traffic.

Thanks,

Kal
Hey Kal

Traffic is relative. This is trading in a box so by the nature there is going to be traffic thus it was reflective in my trading plan.

Best
Mike
  • #81,956
  • Dec 8, 2010 7:43pm Dec 8, 2010 7:43pm
Quoting Adilius07
Hello Mike, this was a great trade. Strong bounce of the lower boundary!

Just one thing I would like to bring and ask you for advice, if possible.
I know it may sound stupid, but I think the standard MACD is NOT WORKING.

Well, I consider MACD important as we look for divergence as one of our confluences. So it must be sharp. But look what I see again and again.

These are: Standard MACD MT4, Mt4 MACD Imported, TOS, NetDania.
Only Standard macd show div, when others do not. And those others are pretty much the same. How could that be?...
Hey Adi

Not really sure this is going to be something with how each is looking to display the oscillator and whatever the inputs are. Since that is all it is. Just keep it simple if you ask me. Use an oscillator you are comfortable and go from there.

Best
mike
  • #81,957
  • Dec 8, 2010 7:43pm Dec 8, 2010 7:43pm
Quoting Fxnumen
Thanks Mike. As always your simplicity is unparalleled. PA has really changed my trading positively...hopefully in time, I'll be able to analyze the markets like you guys.
  • #81,958
  • Dec 8, 2010 8:48pm Dec 8, 2010 8:48pm
Happy birthday mike.

Appreciate you man.

Quoting mbqb11
:d
  • #81,959
  • Dec 8, 2010 8:49pm Dec 8, 2010 8:49pm
Quoting jarroo
. . I love Outside Bars ..
I should have posted this earlier.

Daily PB off the Weekly BEOB previous bar Low.


You all know about the previous bar Lows on BEOBs (previous bar Highs on BUOBs). Hopefully this is a good example that explains it.

Any one know where my targets are??

gotta go


be back later.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #81,960
  • Dec 8, 2010 8:58pm Dec 8, 2010 8:58pm
Quoting jarroo
I should have posted this earlier.

Daily PB off the Weekly BEOB previous bar Low.


You all know about the previous bar Lows on BEOBs (previous bar Highs on BUOBs). Hopefully this is a good example that explains it.

Any one know where my targets are??

gotta go


be back later.

Jim
I'll give it a shot...
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