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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

  • #88,041
  • Feb 4, 2011 8:17am Feb 4, 2011 8:17am
Quoting msmarple
Ghous, thank you very much !

From my experience another question might arise whilst we are watching price inside this consolidation area : in what direction will the breakout happen ?

If we consider that large players want to move as cost-effective as possible, they will often ( not always )...
Very true Michael.

good post.

g.
I believe . . .
  • #88,042
  • Feb 4, 2011 8:18am Feb 4, 2011 8:18am
Quoting useless
I've entered on candle no. 3 after 50% RET on candle no.2.

I'm pretty close to an RN but candle1 is sitting on a PPZ (previous daily close) and shows PB on the 4hr TF.

any comments? Thanks in advance.
Hey Usless

I don't see any chart you seemed to post exported MT4 candle data here

I think you may have missed this post on how to post a chart

http://www.forexfactory.com/showpost...ostcount=85815

Best
Mike
  • #88,043
  • Feb 4, 2011 8:32am Feb 4, 2011 8:32am
Quoting ghous
Out of both trades now.

g.
nice trades brotha
  • #88,044
  • Feb 4, 2011 8:34am Feb 4, 2011 8:34am
Quoting mbqb11
nice trades brotha
Thnx dude,
I believe . . .
  • #88,045
  • Feb 4, 2011 8:36am Feb 4, 2011 8:36am
Quoting Greenhaze
Is it looking good now ? .
Nice move on nfp. They ate all the liquidity from above... Managed to fade the e/u spike. GU BEOB triggered , now lets see how far it will go.
Looking very nice indeed

I rode the break of the GU BEOB and took partial profits at my FTA at 1.60630 before getting stopped out on the retrace. Handy little trade, could have broken harder but I'm not going to jump back in again.

Hope it works out better for you.

Interesting that there was a BEOB on the Daily, and Pin Bars both on the 4H and 1H before the break down. PA on x3 time frames
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  • #88,046
  • Feb 4, 2011 9:10am Feb 4, 2011 9:10am
Quoting 5.25
Looking very nice indeed

I rode the break of the GU BEOB and took partial profits at my FTA at 1.60630 before getting stopped out on the retrace. Handy little trade, could have broken harder but I'm not going to jump back in again.

Hope it works out better for you.

Interesting that there was a BEOB on the Daily, and Pin Bars both on the 4H and 1H before the break down. PA on x3 time frames
Good stuff.

You'll be amazed how these literally 0 risk trades pile up for you at the end of the month/year

To some its just 60 pips on part of your trade volume. We here don't belong to that loser league do we? We belong to the group of fortunate few who will treat this like a true business and admire the 60 pips acquired with absolutely no risk, in a business where people blow their ar$es apart trying to figure out how to make that $2000 account grow with 20% a month so they get their new Audi ASAP.

I mean was there any doubt where this was going on a break?

I don't get tired watching this...more like you never get tired watching your wife/gf...err or maybe that's a wrong analogy. lol

g.
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I believe . . .
  • #88,047
  • Feb 4, 2011 9:16am Feb 4, 2011 9:16am
Quoting mbqb11
PS

Look at price Boxing on top of the other box.

Thank you Mr James16

Clarity through simplicity
If price drops down to the lower box and gives you PA, would you then look for a possible trade knowing the top box may act as resistance? Or would you avoid trading because you are in another box?
  • #88,048
  • Feb 4, 2011 9:18am Feb 4, 2011 9:18am
Quoting ghous
Good stuff.

You'll be amazed how these literally...
I saw it, analysed it and skipped it
  • #88,049
  • Feb 4, 2011 9:20am Feb 4, 2011 9:20am
This is already making me drool. can't wait till Monday, the break of this is going to be amazing.

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GBP/USD also very impressive as Ghous discussed above.

pf here i come!!!!!
  • #88,050
  • Feb 4, 2011 9:20am Feb 4, 2011 9:20am
Quoting spookie94
If price drops down to the lower box and gives you PA, would you then look for a possible trade knowing the top box may act as resistance? Or would you avoid trading because you are in another box?
Hey Spookie

I would be open to it depending on the timeframe and look since we are sitting on another box. My biggest areas where I want to watch price would be the following 3 from a daily perspective
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  • #88,051
  • Feb 4, 2011 9:21am Feb 4, 2011 9:21am
The G-U trade mentioned several times here is a high probability trade with confluences on multiple timesframes:

1. 2D-PB, with divergence
2. Daily BEOB
3. 1H-PB pullback right off the left eye of that 2-D PB
4. H & S on the 1H-TF with oblique neckline
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Pipcrawler
  • #88,052
  • Feb 4, 2011 9:24am Feb 4, 2011 9:24am
Quoting vasmiza
This is already making me drool. can't wait till Monday, the break of this is going to be amazing.

Attachment

GBP/USD also very impressive as Ghous discussed above.

pf here i come!!!!!
Hey Vasmiza, please be careful it is right against the 1.35 BRN.
Actually it reminds me about the trade I took on this pair 9 bars back: see that bullish amazing PB right below the BRN - just like in your example

here is the trade I was so exited to take neglecting the BRN...
http://www.forexfactory.com/showpost...3&postcount=51
  • #88,053
  • Feb 4, 2011 9:28am Feb 4, 2011 9:28am
Quoting 5.25
Looking very nice indeed

I rode the break of the GU BEOB and took partial profits at my FTA at 1.60630 before getting stopped out on the retrace. Handy little trade, could have broken harder but I'm not going to jump back in again.

Hope it works out better for you.

Interesting that there was a BEOB on the Daily, and Pin Bars both on the 4H and 1H before the break down. PA on x3 time frames
Nice one

I'm still in gu & eu shorts. On fridays , after nfp data , price often gets a strong kick and is falling like a knife so i will wait for this daily bar to close before any major decissions. I faded that h1 pin aswell on gu for some nice pips. Only 6 trades this week and 5 of them on friday.
  • #88,054
  • Feb 4, 2011 9:29am Feb 4, 2011 9:29am
Quoting Adilius07
I saw it, analysed it and skipped it
That's ok Adilius,

What I was commenting on, in case you didn't notice was the wonderful Space that it had and the obviousness of the FTA.

I didn't see divergence which you normally like to see with these double tops. The bar itself was only just a BEOB.

So it didn't have everything to it, but it was just the fact that it had nowhere to go but those bar highs above 1.6 that made it really juicy in my book.

Again that being a quick runner doesn't mean everyone just had to take it. I enjoyed the way 5.25 managed this, that is taking partial profit off the FTA and ensuring the trade doesn't strike back and give him a loss. I took full profit at the FTA.

It met our trading criteria so we took it, doesn't mean you had to take it too. I mentioned this at your journal too that I am loving this new attitude from your end of just sticking to your own analysis without getting influenced by anything/anyone else including thread discussions. Shows you have a plan and you're willing to stick to it.

keep it up mate.

g.
I believe . . .
  • #88,055
  • Feb 4, 2011 9:33am Feb 4, 2011 9:33am
Quoting Adilius07
Hey Vasmiza, please be careful it is right against the 1.35 BRN.
Actually it reminds me about the trade I took on this pair 9 bars back: see that bullish amazing PB right below the BRN - just like in your example

here is the trade I was so exited to take neglecting the BRN...
http://www.forexfactory.com/showpost...3&postcount=51
Spot on!

That consolidation box down there spoils the show for me.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 26 KB
I believe . . .
  • #88,056
  • Feb 4, 2011 9:33am Feb 4, 2011 9:33am
Quoting ghous
That's ok Adilius,

What I was commenting on, in case you didn't notice was the wonderful Space that it had and the obviousness of the FTA.

I didn't see divergence which you normally like to see with these double tops. The bar itself was only just a BEOB.

So it didn't have everything to it, but it was just the fact that it had nowhere to go but those bar highs above 1.6 that made it really juicy in my book.

Again that being a quick runner doesn't mean everyone just had to take it. I enjoyed the way 5.25 managed this, that is taking partial...
That was one great trade!
Yes I also saw no Div, but skipped it mostly because this BEOB although tested "space" above previos bar making it swing high it did not do so below it, it was a BEOB yes but almost equal low kind of BEOB, thinking a lot about it I skipped it.

Well it's ok, there will be the other one, I'm ready for it
  • #88,057
  • Feb 4, 2011 9:35am Feb 4, 2011 9:35am
Quoting Adilius07
That was one great trade!
Yes I also saw no Div, but skipped it mostly because this BEOB although tested "space" above previos bar making it swing high it did not do so below it, it was a BEOB yes but almost equal low kind of BEOB, thinking a lot about it I skipped it.

Well it's ok, there will be the other one, I'm ready for it




g.
I believe . . .
  • #88,058
  • Feb 4, 2011 9:37am Feb 4, 2011 9:37am
Quoting ghous
Spot on!

That consolidation box down there spoils the show for me.

g.
Those following the boxing

It happens in every market over and over and over. Simple tools yet again prevail

Those of you with 500 indicators on your chart and feel lost. GET RID OF THEM you will feel very liberated.

Best
Mike
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  • #88,059
  • Feb 4, 2011 9:41am Feb 4, 2011 9:41am
Quoting Adilius07
Hey Vasmiza, please be careful it is right against the 1.35 BRN.
Actually it reminds me about the trade I took on this pair 9 bars back: see that bullish amazing PB right below the BRN - just like in your example

here is the trade I was so exited to take neglecting the BRN...
http://www.forexfactory.com/showpost...3&postcount=51
I see where you are coming from, I remember that bar you are talking about. I also got exited back then aswell. lol Will see what happens next week, maybe I place entry order below close and keep it tight.

So would it be a sign of bearish strength if it closes below BRN of 1.35???

With regards to 9 bars back if you placed your buy order above the PB it would have never been executed.

Harry
  • #88,060
  • Feb 4, 2011 9:41am Feb 4, 2011 9:41am
Thanks for your help, Mike. I try again
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