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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

  • #82,761
  • Dec 16, 2010 10:22pm Dec 16, 2010 10:22pm
Quoting james16
exactly and its why my wife lives in fear im going to get shot.

i didnt put up with mean people shit when i was young and its damn near impossible for me to change now at 50.

its not 1978 anymore and i know that. mean people carry guns now.

my wife reminds me all the time.
What happened to the days when you could just kick someones ass just because they truly deserved it, then go have a beer with them after and sometimes they ended up being a good friend???
  • #82,762
  • Dec 16, 2010 10:37pm Dec 16, 2010 10:37pm
stalled...no momentum ...so I decided to dump it for a few pips...goodnight irene
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  • #82,763
  • Edited 11:11pm Dec 16, 2010 10:39pm | Edited 11:11pm
Quoting mbqb11
dang I just realized this thread hit 10million views! That is crazy. Way to go Jim, I bet the day you hit submit ten million views would have seemed the furthest thing on your mind. Another milestone for this amazing thread
See you all at 20 million
yah... i've been watching the uptick in views for some time now.
amazing feat.

based on the 'speed' of this thread, maybe it will hit 20million views in just 2-4years


Quoting Atc
stalled.......goodnight irene
who's irene?

Quoting aserbfx
off topic...
please help me. i am drowning in snow here in germany. at least 40 cm in the last 2 hours....
help? sure, sending truckloads of snow to our tropical place would definitely help
Quoting john225
Same here in Baden würtemberg ;-)
I go out for sledging xD
wow, for someone who lives in a place without snow... it sounds fun
Quoting bluetrader
Hey aserb, this happened last week in Minnesota (Football Arena)...
Before:
During:
After:
is this for real?
too much sellers, i mean snow
  • #82,764
  • Dec 16, 2010 10:45pm Dec 16, 2010 10:45pm
Quoting Be Cool
Jaroo, can i ask a question?
I know this setup has great confluences of Fibo, TL, 365 ema, but what made me wonder is the PPZ is not a major one. Being a daily setup, this PPZ looks very small on the weekly chart. Mike often says to look for most obvious PPZs - i always thought that means looking for ones that are clearly visible on the weekly and monthly chart if i were to take daily or 4H setup. But J16, You, and Dan Gilbert took this trade and it worked great-so it seems i have a wrong idea about strong and weak PPZ?

Also, i noticed that PB...
I did take this one but I was out at the 1st target, 1.3300, full position.

Your answers are within your question. I believe that the confluences that were aligned with this PPZ level; 61.8 Fib, 365 ema, not so much the trendline (not very clear), previous bar low on the Weekly BEOB. . . . . . strengthened the PPZ level. . .added weight to it.

You know me with Outside Bars and their previous bar Highs and Lows . . . .absolutely it played a role.
Indicators show the past. Price Action "Indicates" the future.
  • #82,765
  • Dec 16, 2010 11:19pm Dec 16, 2010 11:19pm
Quoting dougroman
Would you be kind enough to share with us the custom indicator you use for the Trading Range numbers?? Thanks a 1,000,000
no problem...
Attached File(s)
File Type: mq4 # RANGE_TRADER_9.08 Labais53.mq4   18 KB | 535 downloads
File Type: ex4 # RANGE_TRADER_9.08 Labais53.ex4   20 KB | 418 downloads
PATIENCE... DISCIPLINE
  • #82,766
  • Dec 16, 2010 11:25pm Dec 16, 2010 11:25pm
Quoting supremeChaos

is this for real?
too much sellers, i mean snow
yep very real. My vikings have needed a new stadium for a solid 10 years. Either we get one or we might be off to Los Angles Cali

video

Inserted Video
  • #82,767
  • Dec 16, 2010 11:28pm Dec 16, 2010 11:28pm
Quoting Osman
Hi guys,

Just taken a lost on E/G ..

Wanted to share my thoughts and would like to know what you think...

Took and entry on E/G based on the red quare candle, engulfing around 5 bars, broke the 150 ema + div + close above 0.85...

Had my TP around 0.8560.. moved my stop loss to 0.8460 based on the green candle which close strong below the 0.85 area engulfed 3 bars..used that beob as an exit to reduce my stop.

The thing that made me think, was the daily close of the candle, it closed below the 0.85 , 0.8497 i think... with the close unable...
Hey Os.

My concern is with your target on the BUOB . .why the .8560?

The obvious target to me was the previous bar High, .8523. Once that was reached I would manage my stop loss under that target.

The BEOB looked better to me because, as you said, Price did not close above the .8500 on the Daily (Resistance). Yet, the BEOB could not reach its target, .8450. Tells me we're going up.

Just some thoughts.


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #82,768
  • Dec 16, 2010 11:30pm Dec 16, 2010 11:30pm
nice pinbar at a swing low with the main up-trend. beautiful rejection at the 21ema.
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meine augen sind die sterne
  • #82,769
  • Dec 16, 2010 11:37pm Dec 16, 2010 11:37pm
Gj.

Nice and obvious 'Box movements'

g.
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I believe . . .
  • #82,770
  • Dec 16, 2010 11:44pm Dec 16, 2010 11:44pm
Quoting ghous
yes the close is important. Notice where your BUOB closed. Right above the 8500 PPZ, a very important thing to note and look for when taking setups near strong reaction areas specially trend continuation setups (can be tricky)

So what's the next bar likely to do? Should it use 8500 as support as it has that added advantage of opening above the level? Surely.

So now we know why the BUOB was able to break hard. However we fail to see a sustained move. Now here's why trend continuation setups are more riskier than ones at pull backs and trend reversal...

Nicely illustrated g . . .
Indicators show the past. Price Action "Indicates" the future.
  • #82,771
  • Dec 16, 2010 11:53pm Dec 16, 2010 11:53pm
Quoting mbqb11
yep very real. My vikings have needed a new stadium for a solid 10 years. Either we get one or we might be off to Los Angles Cali
...
thanks.

http://video.foxnews.com/v/4456215/s...-roof-collapse
about 20 inches of snow, with -20degree wind chill... doesnt sound good

hope all of u in snowy places keep warm
  • #82,772
  • Dec 16, 2010 11:56pm Dec 16, 2010 11:56pm
Quoting Osman
Hi Ghous,

I really appreciate all your comments, it makes me improve as a trader, realize what i did wrong and what to look more into.

Here I attach you two charts.. I had the 0.8550 (red box) in mind but saw a more valid flip zone (now i see i was wrong) at the 0.8560 area (green box) .. here you can see the area acted as a support and resistance + it was in confluence with 38.2 daily fib.. that's why i took that area as TP .. had it to be exact at 0.8558

Now i see the 8hr PB around the 0.8550 area..would move my stop loss 10 pips below it......

I see now why you chose the .8560, not that bad . . but I agree with Ghous . . a bit too ambitious . . . one target at a time.
Indicators show the past. Price Action "Indicates" the future.
  • #82,773
  • Dec 17, 2010 12:03am Dec 17, 2010 12:03am
Quoting jarroo
I see now why you chose the .8560, not that bad . . but I agree with Ghous . . a bit too ambitious . . . one target at a time.

I am looking for even higher then that still
  • #82,774
  • Dec 17, 2010 12:08am Dec 17, 2010 12:08am
an interesting area for pa on the lower timeframes...
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meine augen sind die sterne
  • #82,775
  • Dec 17, 2010 12:08am Dec 17, 2010 12:08am
Quoting mbqb11
I am looking for even higher then that still

Shame on you Mike . .lol . . I can see if this was on the Daily or Weekly, but the 4 hour ??? with no other pattern break out to support it . .shame on you my friend . . lol

Watch it go to the moon now . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #82,776
  • Dec 17, 2010 12:11am Dec 17, 2010 12:11am
Quoting jarroo
Shame on you Mike . .lol . . I can see if this was on the Daily or Weekly, but the 4 hour ??? with no other pattern break out to support it . .shame on you my friend . . lol
This is actually a favorite setup of mine. I think it's the time of year causing the decrease in momentum I usually see which was my biggest concern(you'll hear it in the video). But still holding for now. Gimme a santa bump up
  • #82,777
  • Dec 17, 2010 12:13am Dec 17, 2010 12:13am
i dont know but that was brilliant atc.

you young folks have no idea how different things were at one time.

Quoting Atc
What happened to the days when you could just kick someones ass just because they truly deserved it, then go have a beer with them after and sometimes they ended up being a good friend???
  • #82,778
  • Dec 17, 2010 12:15am Dec 17, 2010 12:15am
Quoting mbqb11
This is actually a favorite setup of mine. I think it's the time of year causing the decrease in momentum I usually see which was my biggest concern(you'll hear it in the video). But still holding for now. Gimme a santa bump up

I agree wiith you . . .maybe I missed it, was there a pattern breakout with that BUOB?
Indicators show the past. Price Action "Indicates" the future.
  • #82,779
  • Dec 17, 2010 12:20am Dec 17, 2010 12:20am
when i hit submit for that first post there were literally 30 people that were actually active on this forum.

this thread was started to help 4 or 5 people that i had become friends with over a short period here.

it boggles my mind what has happened.

it really is true that merlin asked me to start the j16 group and it really is true that i said no for several months.

the group was based here in a hidden area for over a year.



Quoting supremeChaos
yah... i've been watching the uptick in views for some time now.
amazing feat.

based on the 'speed' of this thread, maybe it will hit 20million views in just 2-4years



who's irene?


help? sure, sending truckloads of snow to our tropical place would definitely help

wow, for someone who lives in a place without snow... it sounds fun

is this for real?
too much sellers, i mean snow
  • #82,780
  • Dec 17, 2010 12:23am Dec 17, 2010 12:23am
Quoting jarroo
Shame on you Mike . .lol . . I can see if this was on the Daily or Weekly, but the 4 hour ??? with no other pattern break out to support it . .shame on you my friend . . lol

Watch it go to the moon now . .lol
just to clarify why I was willing to hold passed FTA(for better or worse it's something I would repeat so I will share for others).


Notice firstly the 8500 level . lines up perfect from our big swing to the 50. Plus the confirmed major PPZ(not unusual of course at the BRN). THere is also a buob at swing low on daily which is nice to see at the bottom end for now. Notice price never got under the high of that buob(closing that is). High momentum setups will test those breaks and if they hold it's a strong sign at a good area.

Of course the 4hr is where I do the analysis but it is nice to see the daily in support and kind of aware of that hard to ignore staring at charts everyday

But the 4hr shows a nice story. The pattern is showing a high fade in momentum to the downside(see divergence). The swings down decreased each time, and then we started to put in higher lows. Then we got our break of a very clean and obvious trendline with a pullback and BUOB at the trendline closing ABOVE the 8500. A break of that is a good chance to then put in a new high.

We can also find nice projections and targets using the distance on the pattern as well as the touching points on the trendline. Notice the final target projection(which are just nice to see on clean patterns) lines up with the first point of the trendline. I figured a better conservative target was the midpoint(just under 8600). My biggest concern wasn't really a pullback after a new high made. But rather the swings in december have been a bit exaggerated if you ask me which can danger my stop.

Just thought I would type that out for anyone interested. This type of "story" is one I will play day in and out if they were there. This trade obviously went to the FTA and those who are more conservative like I mentioned had ways to reduce and or cut out. I made the decision not to and trust my full analysis. If it fails I accept that but I hope others see the story I tried to build beyond the bar. I don't normally try to get this heavy here with all the new traders so forgive me for those who think this chart is a mess I just tried to stick it all on at once.


Best
Mike
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