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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

  • #86,381
  • Jan 19, 2011 9:37pm Jan 19, 2011 9:37pm
Quoting xmzhang
My reentry of CJ via that 30m-PB has paid me off once again, already banked a bunch of juicy pips on my first position, let the remaining position run to the high of that weekly PB ......... let's see
Hi xmzhang,

I like your style.

A few simple question if I may:

1) At what point did you enter the trade? Did you wait for the break of the Pin Bar for an entry at 85.54 or on closure? What was your logic?

2) Where did you set your stop loss? Just below the previous bars at 85.40?

3) Was your target area the next PPZ at 85.88?

Excuse my naivety here, I understand the 'story' in most market pairs but am struggling with tight entries and stop losses.

Thank you in advance.
  • #86,382
  • Jan 19, 2011 10:24pm Jan 19, 2011 10:24pm
Quoting aserbfx
this 4 hour beob is working out nicely so far. moved stop to breakeven here.
Hi aserbfx,

Can you please explain to use newbies where you entered from the BEOB, where you placed your stop loss and your take profit marker?

Thank you in advance
  • #86,383
  • Jan 19, 2011 11:11pm Jan 19, 2011 11:11pm
Quoting bundyraider
....Bundy's sixth sense detected what?

Hey!! Bundy!! . . !

I thought you settled down in the Caymen Islands somewhere, drinking out of coconuts and earning 20% . .

Good to see you, mate.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #86,384
  • Edited Jan 20, 2011 3:39am Jan 19, 2011 11:51pm | Edited Jan 20, 2011 3:39am
Quoting xmzhang
Hey Jarroo looks like price is back at the origin of my setup @ 8540 and has found support there via a big 30m-PB........ I've entered for another shot @ that our PB. That 30m-PB is backed up by a 1H-PB.

Looks good, xmz.

I like how you re using the current levels on the 30min, like the 85.40 (85.38 on my chart).

I still want to show you that its this Weekly PPZ level or the left eye of the Weekly PB, that can be better used to our advantage. Don't take this the wrong way . .I don't want to take away from your own game here.

But if that good size 30min PB was at the 85.60ish level . .then now were talking. You can see that yours was running right into this level . .and reacted.


Notice how we still don't have a close below the 85.60 of the Daily bars . .Coincidence? . .I don't think so, its that Weekly PPZ/ Left eye of the PB.

Also, we have to agree that the Weekly PB is not the best . .its ok .. in the sense that its at the bottom of a consolidation area, which can mean that the consolidation could continue. Picking a better pair than the Chf/Jpy wouldn't hurt either . .lol . .

Just some thoughts, bro . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #86,385
  • Jan 20, 2011 12:02am Jan 20, 2011 12:02am
Quoting Donkey
Just put an order in on the daily CADCHF....

Reason for entry:

 

  1. 9800 ppz looks to be strong resistance
  2. 150 EMA in confluence with 9800
  3. Third touch of trend line
  4. I like the bar shape and close

What's not to like:

 

  1. Bar could be bigger
  2. Would prefer it off of a BRN rather than RN

Trade plan if bar triggers is to move stop behind 9800 and 150 just above first rectangle.


Yo D . . .!

How's that Cad/Chf Daily BEOB doing?

Looking good . . .


I just wanted to note that there was no close above the previous bar Low on the Daily . .you know me with Outside Bars . .


Great setup D. . .
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Indicators show the past. Price Action "Indicates" the future.
  • #86,386
  • Jan 20, 2011 12:17am Jan 20, 2011 12:17am
Quoting mbqb11
Hey Avanish

Careful for it to be a BEOB it must have a HIgher High then the previous bars High.

Best
Mike

Quoting Osman
Hi Avanish,

Its at a swing high but if you check it previous bar had a higher high than todays bar.

I would love to see bearish PA around the 1.54500.

Os.


Ya,thanks Mike and Osman..i was doubting the same too..

Good Trading!!
  • #86,387
  • Jan 20, 2011 12:21am Jan 20, 2011 12:21am
Anyone considered this PB?
I think FTA is clear - that low of the previous BUOB...
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  • #86,388
  • Jan 20, 2011 12:23am Jan 20, 2011 12:23am
Quoting lallous
I'm starting to get a hang of your trading style J.
Great stuff

Thanks lallous . .it was nice setup with a great story in my book . .pun intended . .lol

So now we have the Daily closing below this level, 1.5300-1.5310. I'm looking for it to act as Resistance now. . . makes sense, right?
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Indicators show the past. Price Action "Indicates" the future.
  • #86,389
  • Jan 20, 2011 12:28am Jan 20, 2011 12:28am
Quoting Adilius07
Anyone considered this PB?
I think FTA is clear - that low of the previous BUOB...

Looks good Adilius.

Previous bar low or the 1.2800 RN
Indicators show the past. Price Action "Indicates" the future.
  • #86,390
  • Jan 20, 2011 12:31am Jan 20, 2011 12:31am
Quoting jarroo
Looks good Adilius.

Previous bar low or the 1.2800 RN
Hello Jarroo. Yes that is what I also have as FTA. Now I think what would be the best way to manage this trade, should I move to BE immediately when FTA is touched, or as I was doing with my backtests - let 1 bar close and move to BE even if FTA is not reached/or reached doesn't matter..... I like both ways, but I think letting 1 bar close gives a trade more room to breath?
  • #86,391
  • Jan 20, 2011 12:32am Jan 20, 2011 12:32am
Quoting Adilius07
Anyone considered this PB?
I think FTA is clear - that low of the previous BUOB...
Though off from 1.3, size looks very small on FXDD. Hence pass for me.

Location is good.
  • #86,392
  • Jan 20, 2011 12:40am Jan 20, 2011 12:40am
Quoting Adilius07
Hello Jarroo. Yes that is what I also have as FTA. Now I think what would be the best way to manage this trade, should I move to BE immediately when FTA is touched, or as I was doing with my backtests - let 1 bar close and move to BE even if FTA is not reached/or reached doesn't matter..... I like both ways, but I think letting 1 bar close gives a trade more room to breath?

It sounds like you like the way your backtesting was showing you. . .I would go with that.

You also know James16's "This is Critical" right?
Indicators show the past. Price Action "Indicates" the future.
  • #86,393
  • Jan 20, 2011 12:41am Jan 20, 2011 12:41am
Quoting cprao
Though off from 1.3, size looks very small on FXDD. Hence pass for me.

Location is good.
Yeah . .its also a bit crowded too.
Indicators show the past. Price Action "Indicates" the future.
  • #86,394
  • Jan 20, 2011 1:00am Jan 20, 2011 1:00am
Quoting Adilius07
Anyone considered this PB?
I think FTA is clear - that low of the previous BUOB...
I've got this running on a Demo. Let's see how it shapes up...
  • #86,395
  • Jan 20, 2011 1:08am Jan 20, 2011 1:08am
Quoting aserbfx
this 4 hour beob is working out nicely so far. moved stop to breakeven here.

You got to like them big bars . . . . nice one aserb. It was a different looking BEOB on my feed.

5:00 PM (EST) break ?? missed this one.

Like to see it push pass the 1.7638 (target) and act as Resistance again.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,396
  • Jan 20, 2011 1:20am Jan 20, 2011 1:20am
Quoting Pinbar
Yes, we have the row of candles that nothing closes above or below at historically. But, we are at a SH. The swing high is the problem I have there.
I mean, even if PBT&CA we still have to wait for the retest and bullish PA.

Sorry, been busy in Japanese and my brain is not working well with English today.


EDIT: The Breakthrough is not support till it shows us a retest, so at this stage, I am not even considering it support.

You watching this Pb . . ?
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Indicators show the past. Price Action "Indicates" the future.
  • #86,397
  • Jan 20, 2011 1:27am Jan 20, 2011 1:27am
What a pitty for this pb!
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Nothing personal,just business
  • #86,398
  • Jan 20, 2011 1:42am Jan 20, 2011 1:42am
Quoting Adilius07
Anyone considered this PB?
I think FTA is clear - that low of the previous BUOB...

How's that going Adilius . .nice hard break.
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Indicators show the past. Price Action "Indicates" the future.
  • #86,399
  • Jan 20, 2011 1:45am Jan 20, 2011 1:45am
Quoting jarroo
It sounds like you like the way your backtesting was showing you. . .I would go with that.

You also know James16's "This is Critical" right?
Yes exaclty because of "this is critical" (in regards to FTA) I have this dilemma.
He meant "critical" is for to to do something at the FTA (move to BE is one of them) but my backtest is a little different approach to BE...

But ok, I think the only way to choose is to practice them both and then choose one. This is not a problem, I'm glad I finally realized the BE is a MUST... oh stupid me I started just like James said and then quietly violated that "critical" rule...

I found this post somewhere in the middle of the thread yesterday... truely wise words (see attached)
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  • #86,400
  • Jan 20, 2011 1:50am Jan 20, 2011 1:50am
Quoting Adilius07
Yes exaclty because of "this is critical" (in regards to FTA) I have this dilemma.
He meant "critical" is for to do something at the FTA (move to BE is one of them) but my backtest is a little different approach to BE...

But ok, I think the only way to choose is to practice them both and then choose one. This is not a problem, I'm glad I finally realized the BE is a MUST... oh stupid me I started just like James said and then quietly violated that "critical" rule...

I found this post somewhere in the middle of the thread yesterday......
Cool Adilius . .

Yeah that line is a classic . .so many things in that one line that one can take from.
Indicators show the past. Price Action "Indicates" the future.
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