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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

  • #90,161
  • Feb 25, 2011 10:14am Feb 25, 2011 10:14am
Quoting mbqb11
Hey C

For me I just like them to be very close pip wise they can be spread out(but would need at least a couple in the short term ) If you look a few posts under for some more examples

It can be very great for a "burst out" on a breakout , which is how I play them


Best
Mike
Thank you Mike. I started searching all your posts to find more examples of these break-out trades.. so that I can understand.. demo on them until I get it..

Thank you Mike..

Weekend is just around the corner.. This was a good short week..

Have a great weekend to Mike and other great members.
  • #90,162
  • Feb 25, 2011 10:17am Feb 25, 2011 10:17am
Quoting mbqb11
I would be very careful at that 39 area of the former breakout area. That can be a strong support level now. But if it can break right through and hold as resistance that would be what we want. If you nailed that retrace the 39 level is a great level to cover or get to b/e in my eyes. Strong uptrend on this equity(and great coffee)

Best
Mike
Thanks Mike, I am at BE + COMM.

(Also if you want the good coffee just let me know Blue Mountain FTW!)
  • #90,163
  • Feb 25, 2011 10:19am Feb 25, 2011 10:19am
Quoting cprao
Thank you Mike. I started searching all your posts to find more examples of these break-out trades.. so that I can understand.. demo on them until I get it..

Thank you Mike..

Weekend is just around the corner.. This was a good short week..

Have a great weekend to Mike and other great members.
Here is lean hog futures I just happened to be flicking through

Look at the beautiful bar highs all lining up at the 75 round number. Multi highs like that often signal a strong breakout when it breaks b/c of the order flow pile up above an area like that. Also note when price does come back it finds support too. It's just another tool in the tool box

Enjoy the weekend too

Mike

edit* there is another one in that chart with 5 bar highs in a very tight cluster see if you can spot it
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  • #90,164
  • Feb 25, 2011 10:24am Feb 25, 2011 10:24am
This is my contribution for this week. Pass a lot of setups this week. Maybe i'm a slow learner but i found the most obvious setups to be easier to play
GBPNZD
2 day PB off weekl PPZ and RN 2.1700, with confluence of 76.4% fib ret, 365 ema and long term down TL. Initial stop above the left eye, entry 2.1488 First target was 2.1300, but then i realised the 61.8% fib ret is at 2.1335. Didn't want to risk a bounce off the 61.8% fib ret, i took profit when it reached 2.1335.Made 145 pips on this one. Too bad i only had one position due to % risk LOL
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  • #90,165
  • Feb 25, 2011 10:24am Feb 25, 2011 10:24am
Quoting Patrick.
You made me start looking at stocks, i only look for PB's on weekly, I took this one on the retrace of the pin, what do you think?

Regards.
just be carefull with bearish setups in such a bullish rallye on stocks.
better to look for bullish setups than bearish.
and always check the daily chart. here you see several gaps. these can hurt you painfully.
39 usd -like mike said- fta.
meine augen sind die sterne
  • #90,166
  • Feb 25, 2011 10:35am Feb 25, 2011 10:35am
Quoting aserbfx
just be carefull with bearish setups in such a bullish rallye on stocks.
better to look for bullish setups than bearish.
and always check the daily chart. here you see several gaps. these can hurt you painfully.
39 usd -like mike said- fta.

Thanks much for the input.
  • #90,167
  • Feb 25, 2011 10:43am Feb 25, 2011 10:43am
Hi guys

Have had a good week - 1 trade taken (Weekly BEOB on GCHF) for a 2% gain so happy enough. Missed 1 or 2 other good setups but eye not quite as good as some of the seniors here(yet)!!

Good weekend and see y'all SundayMonday.

Kal
  • #90,168
  • Feb 25, 2011 10:45am Feb 25, 2011 10:45am
this one is starting to go a bit.
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Many choose unhappiness over uncertainty.
  • #90,169
  • Feb 25, 2011 11:02am Feb 25, 2011 11:02am
Looks very useful.
I'm definitely moving to a broker that supports this
http://blog.forexfactory.com/
  • #90,170
  • Feb 25, 2011 11:04am Feb 25, 2011 11:04am
Quoting Dan Gilbert
this one is starting to go a bit.
Nice one Dan.
Glad it turned your way
  • #90,171
  • Feb 25, 2011 11:15am Feb 25, 2011 11:15am
Quoting mbqb11
Here is lean hog futures I just happened to be flicking through

L

edit* there is another one in that chart with 5 bar highs in a very tight cluster see if you can spot it
Is it the 3 then 2 at BRN 80?
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  • #90,172
  • Feb 25, 2011 11:29am Feb 25, 2011 11:29am
amgen looks interesting. has still some cents to go to be a good weekly pinbar.
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meine augen sind die sterne
  • #90,173
  • Feb 25, 2011 12:06pm Feb 25, 2011 12:06pm
Quoting Donkey
Is it the 3 then 2 at BRN 80?
nope not quite. It's a very large cluster of 5 bar highs in a row.

Try again

Mike
  • #90,174
  • Feb 25, 2011 1:25pm Feb 25, 2011 1:25pm
Quoting mbqb11
Here is lean hog futures I just happened to be flicking through

Look at the beautiful bar highs all lining up at the 75 round number. Multi highs like that often signal a strong breakout when it breaks b/c of the order flow pile up above an area like that. Also note when price does come back it finds support too. It's just another tool in the tool box

Enjoy the weekend too

Mike

edit* there is another one in that chart with 5 bar highs in a very tight cluster see if you can spot it
hi Mike..this Q isn't for me..but still is this the 5 bar high u talking abt..(marked in red line..).
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  • #90,175
  • Feb 25, 2011 1:28pm Feb 25, 2011 1:28pm
Quoting AvanishDemo
hi Mike..this Q isn't for me..but still is this the 5 bar high u talking abt..(marked in red line..).
nope not quite

keep trying ill post it if no one gets it but I think someone will

Mike
  • #90,176
  • Feb 25, 2011 1:34pm Feb 25, 2011 1:34pm
Here is where I would think Mikes talking about, big ugly yellow arrow.

Regards
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  • #90,177
  • Feb 25, 2011 1:35pm Feb 25, 2011 1:35pm
Quoting Mr Smith
Here is where I would think Mikes talking about, big ugly yellow arrow.

Regards
bingo

I'd buy you a beer if I could
  • #90,178
  • Feb 25, 2011 1:56pm Feb 25, 2011 1:56pm
Quoting mbqb11
bingo

I'd buy you a beer if I could
I spent some time looking at some of your free vids on the site. Good stuff man, especially the hourly Aud/Cad trade. You've gotten more aggressive in your old age.

I tell you it's refreshing when you allow yourself to get back to the basics. Thanks Mike.
"Don't trade to trade . . . trade to win." - James16
  • #90,179
  • Feb 25, 2011 2:03pm Feb 25, 2011 2:03pm
hey Mike..can we look for this as a possible breakout n look for a short..1.49(in pink)..multi lows over there..lets say Entry just below those lows...
..or else if the IB close bullish way..it could be IB setup..
do u agree?
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  • #90,180
  • Feb 25, 2011 2:24pm Feb 25, 2011 2:24pm
Quoting AvanishDemo
hey Mike..can we look for this as a possible breakout n look for a short..1.49(in pink)..multi lows over there..lets say Entry just below those lows...
..or else if the IB close bullish way..it could be IB setup..
do u agree?
For me those bars are to far away, there also not very tight, alot of pips differnece between each bar,
interested to see what mikes take on it is.
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