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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

  • #85,381
  • Jan 12, 2011 8:49am Jan 12, 2011 8:49am
Quoting supremeChaos
btw, off topic.
im trying something different this new year.

anyone of you have an experience with online jobs, transcription service, pay to click sites, etc?
if so, i'd like to hear your views. kindly PM me.
i joined a few of these to see what's up with them & if they are legit, etc.
i wont mention any sites, as that maybe against the rules, despite being non-FX related.

im in front of the PC for about 10 - 15 hours per day.... reading, checking charts, monitoring setups/open positions (i trade live), posting here, surfing the web, checking...

Why not improve your trading? Or look for other setups?
Kind Regards Chris
  • #85,382
  • Jan 12, 2011 8:52am Jan 12, 2011 8:52am
Quoting Thierry
Location: Close above BRN 130.00, Above 61.8 fibo, above box and 365 ema.
Bar: BUOB, very nice close.
Space: Target is 131.50
Comments are welcome.
do u have a trade open on this one?
first thing i noticed is the line u've drawn on your MACD. does that line have any significance, for u?
looks ok to reach your target.

about 2 hours ago, i bought eurjpy prior the range high break

Quoting g_j_hook@yah
yeah, i have to agree. i wouldnt have thought it but i think any break above 1.57 could take us to 1.59...
like you say lets watch n see...?
jon
u know, u draw a descending wedge on the daily. check your post the other day. it was a confluence for a long, wasnt it

Quoting xmzhang
hey Jon, .. if one uses the same method in constructing a TL ie. connecting two consecutive swing highs/lows. Looking @ our different TL's on Cable, in your case the TL would support your initial thought to sell Cable as it closes below your TL, in my case on the other hand the TL would support the thought to buy Cable, because price broke and pulled back right to the TL..
interesting.
real-time display of two traders who differ in views & TLs & yet both still doing ok, overall.
  • #85,383
  • Jan 12, 2011 8:53am Jan 12, 2011 8:53am
Quoting chriskins
Why not improve your trading? Or look for other setups?
I don't think SC's trading needs any improvement
Pipcrawler
  • #85,384
  • Jan 12, 2011 8:57am Jan 12, 2011 8:57am
Quoting xmzhang
I don't think SC's trading needs any improvement
No offence but everyone can improve their trading, unless SC is George Soros in disguise
Kind Regards Chris
  • #85,385
  • Jan 12, 2011 8:59am Jan 12, 2011 8:59am
Quoting supremeChaos
do u have a trade open on this one?
first thing i noticed is the line u've drawn on your MACD. does that line have any significance, for u?
looks ok to reach your target.

about 2 hours ago, i bought eurjpy prior the range high break

Yes i open the trade at the break
The line on the macd has not too much significance. Maybe sort of momentum in the macd? i'am a newbie
  • #85,386
  • Jan 12, 2011 9:01am Jan 12, 2011 9:01am
Quoting Ifmyante
Do you see an obstacle around 130.76?

I'm to be taken with a pinch of salt at the moment, so don't panic
The 130.75 is a little RN. Ok there is a lot of SR on the 4h at that point. But i try to draw only on daily en weekly. All the rest are minor points that has less significance.
  • #85,387
  • Jan 12, 2011 9:03am Jan 12, 2011 9:03am
Quoting chriskins
Why not improve your trading? Or look for other setups?
Hello Sir chris,
dont get me wrong. i improve & practice more/watch more charts, every month, every year. consistency & consistent profitability is almost within reach. i started trading around 2006. my personal circumstances & personality are fueling the 'aggressiveness & impatience fire 'in me --- these are the only stumbling block right now to my success.

trading will be my bread & butter for life.

online jobs, etc. will just fill in my 'dead time'. (PC is on non-stop for +/- 10-15hours)

'looking for other setups' maybe tantamount to saying 'taking less than ideal setups', trading against my rules or forcing to trade/overtrading
  • #85,388
  • Jan 12, 2011 9:05am Jan 12, 2011 9:05am
Quoting supremeChaos
Hello Sir chris,
dont get me wrong. i improve & practice more/watch more charts, every month, every year. consistency & consistent profitability is almost within reach. i started trading around 2006. my personal circumstances & personality are fueling the 'aggressiveness & impatience fire 'in me --- these are the only stumbling block right now to my success.

trading will be my bread & butter for life.

online jobs, etc. will just fill in my 'dead time'. (PC is on non-stop for +/- 10-15hours)

'looking for other setups' maybe tantamount to saying...

I see SC makes sense to utilise that time then.

When I said other setups I didn't mean just taking random trades I meant backtesting/deming/live trading a setup.
Kind Regards Chris
  • #85,389
  • Jan 12, 2011 9:08am Jan 12, 2011 9:08am
Quoting xmzhang
I don't think SC's trading needs any improvement
Quoting chriskins
No offence but everyone can improve their trading, unless SC is George Soros in disguise http://cdn.forexfactory.com/images/s...yim/tongue.gif
lol
u both have a point...
but im not George Soros. really , i am NOT. who knows...


btw, Sir chris,
if u have seen people living off of a $1 - $5 a day, or been to a 'developing' country like ours, u would know that $100 - $1000 extra income a month or a year is not something to ignore (im sure that amount range is relatively 'small' for other people)
it's a perspective thing

Quoting chriskins
I see SC makes sense to utilise that time then.
When I said other setups I didn't mean just taking random trades I meant backtesting/deming/live trading a setup.
ahh. that makes sense now. thanks for clarifying.
yes i do those.
  • #85,390
  • Jan 12, 2011 9:09am Jan 12, 2011 9:09am
is this a IPB set up at all ?
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  • #85,391
  • Jan 12, 2011 9:13am Jan 12, 2011 9:13am
Good day, good day, gents

Is this a legitimate double bar low higher close? I'm not too familiar with these setups and have only started paying more attention to them in the last week or two. This is on a demo, to me it looks like a nice James DBLLHC, but I'de like someone who is more familiar with these to chime in on this particular setup. Thanks!
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Price is beautiful. A repetitive method is a competitive method.
  • #85,392
  • Jan 12, 2011 9:14am Jan 12, 2011 9:14am
Quoting nwo-trader
Good day, good day, gents

Is this a legitimate double bar low higher close? I'm not too familiar with these setups and have only started paying more attention to them in the last week or two. This is on a demo, to me it looks like a nice James DBLLHC, but I'de like someone who is more familiar with these to chime in on this particular setup. Thanks!
Hey NWO

For this setup(DBLHC) we need the close to be higher then the previous bar high. Also note these setups are best learned first at swing low points like BUOBs or bullish pinbars

Best
Mike
  • #85,393
  • Jan 12, 2011 9:15am Jan 12, 2011 9:15am
Quoting menomoo
is this a IPB set up at all ?
looks like one, but i dont think so.
a quick look at your chart, i dont like the confluence nor the location.
i see this as a continuation PB.

be careful not to get stuck with 'looking for IPBs everywhere all the time'.
u might get blinded & forget that what's in front of u is actually a PB, not an IPB. u should always be aware of that, IMHO.

just my view
wait for ghous, others to comment
  • #85,394
  • Jan 12, 2011 9:19am Jan 12, 2011 9:19am
Quoting supremeChaos
looks like one, but i dont think so.
a quick look at your chart, i dont like the confluence nor the location.
i see this as a continuation PB.

be careful not to get stuck with 'looking for IPBs everywhere all the time'.
u might get blinded & forget that what's in front of u is actually a PB, not an IPB. u should always be aware of that, IMHO.

just my view
wait for ghous, others to comment
yes from what I understand of them( I do not trade them) it must sit up higher on the previous bar

Mike
  • #85,395
  • Edited 9:35am Jan 12, 2011 9:24am | Edited 9:35am
My other pullback trade has worked out better than the pullbacktrade on Cable. Also a 4H-BEOB which broke below RN @ 7600 and engulfing multiple bars, price just slighty broke that BEOB and then gave me in the 15m-TF a buytrigger to enter the pullback trade and to fade that BEOB via a nice 15m-BUOB. Next question would then be, where will the pullback stop ? Several options here, previous 4H-bar lows or RN @ 7600 ......... price told me on the 10m-TF via a 10m-BEOB right @ RN 7600/61.8 fib to close my long and reverse to short for another shot @ the BEOB ...............
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Pipcrawler
  • #85,396
  • Jan 12, 2011 9:25am Jan 12, 2011 9:25am
Quoting Thierry
The 130.75 is a little RN. Ok there is a lot of SR on the 4h at that point. But i try to draw only on daily en weekly. All the rest are minor points that has less significance.
Sorry Thierry,

I went to look at my own chart before responding.

No BEOB there. Stupid gap on my charts! Second one today. Very hard to make informed judgements without all the facts.

Looks good on your chart!
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  • #85,397
  • Jan 12, 2011 9:30am Jan 12, 2011 9:30am
Quoting xmzhang
My other pullback trade has worked out better than the pullbacktrade on Cable. Also a 4H-BEOB which broke below RN @ 7600 and engulfing multiple bars, price just slighty broke that BUOB and then gave me in the 15m-TF a buytrigger to enter the pullback trade and to fade that BEOB via a nice 15m-BUOB.....
lol, that was a tongue twister

i think it should read "price just slighty broke that BEOB and then gave me in the 15m-TF a buytrigger to enter the pullback trade and to fade that BEOB via a nice 15m-BUOB"

up & down trading, in what looks like an H4 range, nice job by the master preempter.
  • #85,398
  • Jan 12, 2011 9:32am Jan 12, 2011 9:32am
Anyone used this? I have an Oanda account but I can't access it from work (over the web). I have an android phone though and the app is very good, charts, trading everything you need on the go. All I need is some kind of price alert to email me when price hits a certain level and I will be golden (for demo).
Attached Image
Kind Regards Chris
  • #85,399
  • Jan 12, 2011 9:34am Jan 12, 2011 9:34am
Quoting mbqb11
Hey NWO

For this setup(DBLHC) we need the close to be higher then the previous bar high. Also note these setups are best learned first at swing low points like BUOBs or bullish pinbars

Best
Mike
Ahh ok, that clears it up for me, so the close on the second bar needs to be above the high of the previous bar, got it. Thanks Mike, and god bless.

You mentioned the other day that system I posted was a seizure machine, and I agree. I've got these pics of your trading stations, just wondering if you've changed it up since then? Sorry if this is creepy, lol I'm no stalker, this is just how I picture you - sitting infront of here. Lol.
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Price is beautiful. A repetitive method is a competitive method.
  • #85,400
  • Jan 12, 2011 9:35am Jan 12, 2011 9:35am
Quoting supremeChaos
lol, that was a tongue twister

i think it should read "price just slighty broke that BEOB and then gave me in the 15m-TF a buytrigger to enter the pullback trade and to fade that BEOB via a nice 15m-BUOB"

up & down trading, in what looks like an H4 range, nice job by the master preempter.
Pipcrawler
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