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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

  • #89,781
  • Feb 22, 2011 8:34am Feb 22, 2011 8:34am
Quoting AvanishDemo
Its amazing to see how market ACTUALLY respects all KEY levels n then find a setup over there n there u go!...as Jarroo always mentions it!n it works!!
Thanks Jarroo
Yo!

He's a star, this jarroo guy isn't he?

g.
I believe . . .
  • #89,782
  • Feb 22, 2011 8:44am Feb 22, 2011 8:44am
Quoting ghous
That's not being 'too picky' Osman, not that being very picky is bad but I understand all that regret thingie when you get to miss a move.

A strong close below the previous bar low would have added to the strength for sure. Its more a matter of your own thoughts on what's a tradable setup. Mike, from what I know of him would not have traded this, not sure about S.Chaos.

Was this A+ as in an outright brilliant setup? No. Was it still tradable based on the story? Yes.

Clearly some people will look for nothing except A+ stuff (Benji) in exchange...
Very Good Line Ghous..i doubted the close too but it added to the story..
as u said:
"Was this A+ as in an outright brilliant setup? No. Was it still tradable based on the story? Yes."
  • #89,783
  • Feb 22, 2011 9:16am Feb 22, 2011 9:16am
Quoting Osman
Hi guys,

First of all congrats to all of those that took the GBP/CHF trade..

Everything looked good .. we had :

Divergence
Lower lows
Higher Lows
Close below 1.55 and clear FTA 1.52 as Sir Jarroo pointed out..

The thing that made not take this trade was the close of the BEOB bar, I was looking for a close below previous bar....

Im too picky about this ? Now i think that with the strong downtrend we had.. I could have been more flexible with the close of the beob.. but its easy...
Hey Os

For a beob to be a beob you simply need a higher high then previous bar, a lower low then previous bar and a close near the bottom, it does not have to be under the previous bar. That is something I personally have done extensive testing and trading with any I implement in my trading. Much like other rules I have shared here. It is something you should test and track as you go and decide if it is a rule that helps or doesn't help you.

looks like gbp/chf is now stalling around the FTA at 5200

Best
Mike
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  • #89,784
  • Feb 22, 2011 9:20am Feb 22, 2011 9:20am
This was my Trade on the German Heidelbergcement stock. But now i notized that this trade was too risky the PB was to small but it worked great.

My condolence to all in New Zealand
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  • #89,785
  • Feb 22, 2011 9:24am Feb 22, 2011 9:24am
Quoting ghous
That's not being 'too picky' Osman, not that being very picky is bad but I understand all that regret thingie when you get to miss a move.

A strong close below the previous bar low would have added to the strength for sure. Its more a matter of your own thoughts on what's a tradable setup. Mike, from what I know of him would not have traded this, not sure about S.Chaos.

Was this A+ as in an outright brilliant setup? No. Was it still tradable based on the story? Yes.

Clearly some people will look for nothing except A+ stuff (Benji) in exchange...
Thx for your words Ghous, could you tell us more about the story of the gbp/chf trade if you don't mind ?

Thx.

Os.
Trade Smart
  • #89,786
  • Feb 22, 2011 9:25am Feb 22, 2011 9:25am
Quoting john225
This was my Trade on the German Heidelbergcement stock. But now i notized that this trade was too risky the PB was to small but it worked great.

My condolence to all in New Zealand
Very nice John. Risky is a bit weird to use here. Look at how hard and fast that broke. There is nothing wrong with that. What happens is that most will take a bar that is iffy and just hold and hope it breaks strong and when it doesn't they know they should cut out, but they continue to hold for a full bar loss. I love your lines on this chart they speak volumes

Best
Mike
  • #89,787
  • Feb 22, 2011 9:43am Feb 22, 2011 9:43am
Quoting mbqb11
Hey Os

For a beob to be a beob you simply need a higher high then previous bar, a lower low then previous bar and a close near the bottom, it does not have to be under the previous bar. That is something I personally have done extensive testing and trading with any I implement in my trading. Much like other rules I have shared here. It is something you should test and track as you go and decide if it is a rule that helps or doesn't help you.

looks like gbp/chf is now stalling around the FTA at 5200

Best
Mike
Hey Mike,

Thx for your answer..

Yeah I know, but when i see the close lower than previous bar is like im comfortable in taking the trade. I don't have need of taking a look at my mobile phone to see where price is if I wake up in the middle of the nite to drink some water..

Before i joined the thread i used to take trades that were so so.. and if price went against me i would be thinking i did a wrong analysis.. i remember once on the videos you lost a trade and you said .. "ill take this setup 20 times if it appears again".. I never had that confidence in my trading life until I started to understand better this material.
Now its like.. ok ive lost but i know i did the correct analysis.

To end... I think I should take only setups that i feel comfortable with, independently if they make 200 or -200 pips.

Again, thx for your answer Mike.
Trade Smart
  • #89,788
  • Feb 22, 2011 9:56am Feb 22, 2011 9:56am
the weekly i4b on EURAUD straddling 1.3500 has broke north. I anticipate price to find support now around 1.3600
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Many choose unhappiness over uncertainty.
  • #89,789
  • Feb 22, 2011 10:01am Feb 22, 2011 10:01am
Quoting john225
This was my Trade on the German Heidelbergcement stock. But now i notized that this trade was too risky the PB was to small but it worked great.
congrats!
i played the breakout >50 eur on heid.
already took some profit and will let it run to ~60 eur.
meine augen sind die sterne
  • #89,790
  • Feb 22, 2011 10:22am Feb 22, 2011 10:22am
Areas to watch in this week or maybe next week..
1.35RN...any good setup over there should do good..
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  • #89,791
  • Feb 22, 2011 10:53am Feb 22, 2011 10:53am
Question ? If this daily bar finished as is , do we regard this inverted pin bar ?

Thanks in advance

V
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  • #89,792
  • Feb 22, 2011 11:08am Feb 22, 2011 11:08am
Why is the market so volatile today?
  • #89,793
  • Feb 22, 2011 11:18am Feb 22, 2011 11:18am
Quoting john225
Why is the market so volatile today?

Libya, and NZ earthquake.

http://www.cnn.com/video/data/2.0/vi...a.oil.cnn.html

http://www.cnn.com/video/data/2.0/vi...regan.cnn.html
Many choose unhappiness over uncertainty.
  • #89,794
  • Feb 22, 2011 11:21am Feb 22, 2011 11:21am
Quoting john225
Why is the market so volatile today?

Thats the way it is energized sometimes john!

We just need to make the best of the set ups meaning , fishing taking the bite along with the fish and bate.. )

cheers V
  • #89,795
  • Feb 22, 2011 11:45am Feb 22, 2011 11:45am
Quoting jarroo
I like to see Price come back to the 82.50 and give up some big bullish PA.
Hey Jarroo.. considering this strong bearish momentum into the level, would a long position at this location with some decent PA still be an option?
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  • #89,796
  • Feb 22, 2011 11:54am Feb 22, 2011 11:54am
Hi guys

got in on the GCHF Beob and took profit for 2% gain (demo). Sticking to daily/weekly for now and this trade puts me in the black for the year as I have only taken a few trades. Encouraging signs but long way to go for me yet!

Kal
  • #89,797
  • Feb 22, 2011 12:01pm Feb 22, 2011 12:01pm
Hi everyone.
AU currently testing the trendline on H1 + last candle was a pinbar + macd divergence + juicy swaps
let's watch this
++
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  • #89,798
  • Feb 22, 2011 12:30pm Feb 22, 2011 12:30pm
how are you guys managing this gbpchf trade?
  • #89,799
  • Feb 22, 2011 12:54pm Feb 22, 2011 12:54pm
On the GBP/CHF Im 201 pips locked in and counting :-)
Enter Signature
  • #89,800
  • Feb 22, 2011 12:56pm Feb 22, 2011 12:56pm
Quoting DBallerz
how are you guys managing this gbpchf trade?
yeah would like to hear it from JARROO..it almost reached 1.51...if it closes below 1.52 it should act as resistance now..still 3 hours to go..
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