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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

  • #87,961
  • Feb 3, 2011 9:22pm Feb 3, 2011 9:22pm
Quoting mbqb11
Hey Pin

We are just stuck in a tight box, I don't play in these personally. But they are great information once we get outside them and crucial to understanding price better

Best
Mike
PS

Look at price Boxing on top of the other box.

Thank you Mr James16

Clarity through simplicity
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  • #87,962
  • Feb 3, 2011 9:24pm Feb 3, 2011 9:24pm
Quoting mbqb11
Hey Pin

We are just stuck in a tight box, I don't play in these personally. But they are great information once we get outside them and crucial to understanding price better

Best
Mike

Very sobering logic Mike.
Many thanks.

This is a constant battle between macro & micro thinking.
  • #87,963
  • Feb 3, 2011 9:29pm Feb 3, 2011 9:29pm
Given it's s friday...

is anyone else thinking the eurusd weekly has potential if it holds to current form?

There's a rather large BUOB three weeks previous that is of some concern.

Pros: Pin? BRN, 61.8% fibs, PPZ?
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  • #87,964
  • Feb 3, 2011 9:30pm Feb 3, 2011 9:30pm
Quoting mbqb11
PS

Look at price Boxing on top of the other box.

Thank you Mr James16

Clarity through simplicity

Yes, it is even more apparent that price is going sideways on the H4.

Would you take a bullish PA off the bottom box back up to the top?

Or only going away from the consolidation as in the chart below.
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  • #87,965
  • Feb 3, 2011 9:54pm Feb 3, 2011 9:54pm
Quoting mbqb11
PS

Look at price Boxing on top of the other box.

Thank you Mr James16

Clarity through simplicity
This is once again all hyperthetical but, even if you saw a PB such as the one I drew, you wouldn't take it at this location?
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  • #87,966
  • Feb 3, 2011 9:54pm Feb 3, 2011 9:54pm
Quoting Pinbar
Yes, it is even more apparent that price is going sideways on the H4.

Would you take a bullish PA off the bottom box back up to the top?

Or only going away from the consolidation as in the chart below.
Hey Pin

Yes I would take PA off the top being the BRN is up there. But I prefer the breakout and pullback scenario the top one . Again depends on timeframe but on the h4 specifically the top one you have there

Best
Mike
  • #87,967
  • Feb 3, 2011 9:55pm Feb 3, 2011 9:55pm
Quoting Pinbar
This is once again all hyperthetical but, even if you saw a PB like such as the one I drew, you wouldn't take it at this location?
If it was that big and closed below 1.3 yes I would be more likely to take that one, since it is nice and big and tested clearly above the box of consolidation.

Hypothetically

Mike
  • #87,968
  • Feb 3, 2011 10:23pm Feb 3, 2011 10:23pm
Quoting mbqb11
If it was that big and closed below 1.3 yes I would be more likely to take that one, since it is nice and big and tested clearly above the box of consolidation.

Hypothetically

Mike

Mike, I really appreciate the help here.

Don't know what is wrong with me lately, one minute I think I am almost there and then the next day, I am like...WTH was I thinking about.

Ok, this appears to be a sign of over complicating things and confusing myself or even worse, convincing myself of a setup and not considering the possibilities

Back to trying to keep it simple with this template and spaced lines of 500 & 200 pips, for this pair.

Many thanks Mike & if you have any other suggestions, let em rip, Please.
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  • #87,969
  • Feb 3, 2011 10:33pm Feb 3, 2011 10:33pm
Quoting Pinbar
Mike, I really appreciate the help here.

Don't know what is wrong with me lately, one minute I think I am almost there and then the next day, I am like...WTH was I thinking about.

Ok, this appears to be a sign of over complicating things and confusing myself or even worse, convincing myself of a setup and not considering the possibilities

Back to trying to keep it simple with this template and spaced lines of 500 & 200 pips, for this pair.

Many thanks Mike & if you have any other suggestions, let em rip, Please.
I'll give you a tip from my experience. You don't just wake up one day and say Hey I got it I am profitable. It is a slow thing. You take steps forward and steps back. Over time you just take less back and slowly you realize you have a better grip on it then you did before. Then you slowly see it all come together.

I never know what the next day brings, I can only play of my skills that I have gained from all the previous days


Mike
  • #87,970
  • Feb 3, 2011 10:41pm Feb 3, 2011 10:41pm
Quoting mbqb11
I'll give you a tip from my experience. You don't just wake up one day and say Hey I got it I am profitable. It is a slow thing. You take steps forward and steps back. Over time you just take less back and slowly you realize you have a better grip on it then you did before. Then you slowly see it all come together.

I never know what the next day brings, I can only play of my skills that I have gained from all the previous days


Mike

Yes, I knew that, right from the start.

It is more 1 step forward, then one step back but sometimes it feels like 1 step forward and 3 steps back.

Still, we won't let that dissuade us, in the least, it was expected right from the start and, this is how hard this business really is.
Thanks again Mike.
  • #87,971
  • Feb 3, 2011 10:56pm Feb 3, 2011 10:56pm
Quoting Pinbar
Yes, I knew that, right from the start.
...
Still, we won't let that dissuade us, in the least, it was expected right from the start and, this is how hard this business really is.
....
whenever i feel down, 1 of the things i remind myself is:


any endeavor worth doing is never easy. (or at least.. only difficult at first.)


  • #87,972
  • Feb 3, 2011 11:58pm Feb 3, 2011 11:58pm
Quoting Pinbar
Yes, I knew that, right from the start.

It is more 1 step forward, then one step back but sometimes it feels like 1 step forward and 3 steps back.

Still, we won't let that dissuade us, in the least, it was expected right from the start and, this is how hard this business really is.
Thanks again Mike.
Morning all.

Trying to get to grips with it all like this without a break can be frustrating.

I remember learning to play guitar. I was all fingers and thumbs, and couldn't get good at coordinating them all. I got so frustrated that I put the thing aside and got on with life, not giving it another thought.
A couple of weeks later, I felt bad about the waste of a guitar, and put it on my knee.
Imagine my surprise when I started playing and could actually play! No Hendrix, but definitely Bob Dylan on acid!

While I hadn't been forcing myself to play better, my mind, unbeknownst to me, took on the task of turning what I had learned into instinct.

Maybe if I took a week or two away from the charts I would come back a more instinctive trader!
  • #87,973
  • Feb 4, 2011 12:02am Feb 4, 2011 12:02am
Quoting 5.25
Stepping aside from the thread briefly...

Anyone using an Apple Mac based broker other than Oanda? I'm looking for NY close charts WITH charting capabilities e.g MT4 style. Running a PC and Mac is growing tiresome.
I just bought a shiny new mac air the other day, and installed a Bootcamp partition w/ win7. All my broker software (ie, Ninjatrader, MT4 and some poorly designed broker-specific software) flies with Parallels. You can either run it in a window, stick it on a seperate (virtual) screen, or use the nifty crystal mode (i think that's what its called) which basically makes your windows apps look and behave like mac ones.

And I'm an IT retard, so if I can do it...
When you have to shoot, shoot. Dont talk.
  • #87,974
  • Feb 4, 2011 12:16am Feb 4, 2011 12:16am
Quoting joelcf
I just bought a shiny new mac air the other day, and installed a Bootcamp partition w/ win7. All my broker software (ie, Ninjatrader, MT4 and some poorly designed broker-specific software) flies with Parallels. You can either run it in a window, stick it on a seperate (virtual) screen, or use the nifty crystal mode (i think that's what its called) which basically makes your windows apps look and behave like mac ones.

And I'm an IT retard, so if I can do it...
If you read on you'll find out I pretty much did the same.

Got myself a new Power Book. I upgraded the the screen resolution giving myself more screen real estate i.e. more charts!
  • #87,975
  • Feb 4, 2011 12:17am Feb 4, 2011 12:17am
11 usd seems to be a nice area for price action.
longterm ppz with resistance, round number and fe 161%.
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meine augen sind die sterne
  • #87,976
  • Feb 4, 2011 12:22am Feb 4, 2011 12:22am
Quoting 5.25
Got myself a new Power Book. I upgraded the the screen resolution giving myself more screen real estate i.e. more charts!
I only have the 11.6" (I got sick of my old netbook and/or dropped it down the stairs), but its sharp enough that you could read charts on it all day if you wanted. One at a time, anyways

As a windows person, im suprised how easy it is to use.

While I was at the store, they had 4 of the 27" displays linked up. Now that is some screen real estate, lol.

(this thread moves too fast - still playing catchup)
When you have to shoot, shoot. Dont talk.
  • #87,977
  • Feb 4, 2011 12:30am Feb 4, 2011 12:30am
Quoting Ifmyante
Morning all.

Trying to get to grips with it all like this without a break can be frustrating.

I remember learning to play guitar. I was all fingers and thumbs, and couldn't get good at coordinating them all. I got so frustrated that I put the thing aside and got on with life, not giving it another thought.
A couple of weeks later, I felt bad about the waste of a guitar, and put it on my knee.
Imagine my surprise when I started playing and could actually play! No Hendrix, but definitely Bob Dylan on acid!

While I hadn't been forcing myself to...

"Bob Dylan on acid".......
Don't remind me of my youth. LoL

I hear you though.

I have a great deal on my plate right now with other serious matters.
Perhaps, I have been pushing it a bit too much recently.

Good idea. But then I think, Two weeks without studying. No, way!

We shall prevail, it is just a brain bug...Just needs ironing out.

Thanks IF.
  • #87,978
  • Feb 4, 2011 12:45am Feb 4, 2011 12:45am
Quoting Pinbar
"Bob Dylan on acid".......
Don't remind me of my youth. LoL

I hear you though.

I have a great deal on my plate right now with other serious matters.
Perhaps, I have been pushing it a bit too much recently.

Good idea. But then I think, Two weeks without studying. No, way!

We shall prevail, it is just a brain bug...Just needs ironing out.

Thanks IF.
I hope your serious matters get sorted soon, and good luck with that.

I was amazed lately at how naturally I was assessing the charts while I had Mozart's piano concerto no 17 playing. I was flicking through them so quickly, with a 'yes', 'no', 'ooh, that looks interesting'.

He and Chopin are amazing catalysts for my mind. Many others agree
  • #87,979
  • Feb 4, 2011 12:49am Feb 4, 2011 12:49am
Quoting jarroo
Update.
I was actually going to make this post.

Looking good on the weekly TF as well.
Many choose unhappiness over uncertainty.
  • #87,980
  • Feb 4, 2011 12:59am Feb 4, 2011 12:59am
Quoting Dan Gilbert
I was actually going to make this post.

Looking good on the weekly TF as well.
Hi Dan,

would I be too picky wanting it to close over the 28.82 line also?
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