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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

  • #90,181
  • Feb 25, 2011 2:24pm Feb 25, 2011 2:24pm
Quoting Flem26
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.
Thanks bud, I think my moods change with the moons

Best
Mike
  • #90,182
  • Feb 25, 2011 2:25pm Feb 25, 2011 2:25pm
Quoting Mr Smith
I think for breakout, those bars are to far away, interested to see what mikes take on it is.
Yep Mr.Smith knows his stuff.

We (well I) want to see the bar highs/lows as close and as clean as possible. So you really have an idea of what the level looks like. Your chart is showing support area, but to play that area as a pure breakout won't have the same dynamics as highs/lows that are very close or clustering

Only my opinion as always

Mike
  • #90,183
  • Feb 25, 2011 2:33pm Feb 25, 2011 2:33pm
Quoting aserbfx
amgen looks interesting. has still some cents to go to be a good weekly pinbar.
52.30 usd at the moment.
seems like a perfect setup. check yourself. i will post the chart over the weekend.
meine augen sind die sterne
  • #90,184
  • Feb 25, 2011 3:19pm Feb 25, 2011 3:19pm
hi all,

eur/gbp looks like is going to close as a pin...going to take it.

will move stop to b/e at 0.8500 and let it ride to 0.8475 take half off and than look to get to 0.84
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Trading is a test match not a Twenty20.
  • #90,185
  • Feb 25, 2011 5:42pm Feb 25, 2011 5:42pm
At +325 pips and with a bullish PB added to the mix, I thinks it's time to close this little runner

Is the newly formed PB at 1.5800 also tradable?
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  • #90,186
  • Feb 25, 2011 6:05pm Feb 25, 2011 6:05pm
Quoting vasmiza
Any thoughts on PB from 2 days back. I've entered on the retrace. FTA is BRN (1.36000). Problem is there isn't PA confirmation on another feed I'm following. Also going straight into area of consolidation.
EUR/AUD I entered on retrace closed out at BRN 1.3600 to later see bearish momentum pick up. Fridays close was 10 pips above 1.3500. I wonder why?????

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  • #90,187
  • Feb 25, 2011 9:14pm Feb 25, 2011 9:14pm
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
I am sure some one must have already answered. I still try myself here first.
I spotted two areas.. one with 4 bars and one with 5 bars.. Yellow line and green arrows.
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  • #90,188
  • Feb 25, 2011 9:51pm Feb 25, 2011 9:51pm
Quoting mbqb11
Yep Mr.Smith knows his stuff.

We (well I) want to see the bar highs/lows as close and as clean as possible. So you really have an idea of what the level looks like. Your chart is showing support area, but to play that area as a pure breakout won't have the same dynamics as highs/lows that are very close or clustering

Only my opinion as always

Mike
So Mike,

To play a pure a breakout trade-

1. Multiple highs/lows
2. As close as possible.. more clustered is more good
3. Should clear - in the sense the highs and lows are almost at the same price level.

Now Questions -
1) How about the location ? Does swing high or low matter ?
2) I am sure we don't want to trade into a BRN, right?
3) How about space to the left ?
4) When you play for a break-out, how many pips buffer you generally provide based on TF ?

Sorry for all the questions but can't resist myself..
  • #90,189
  • Feb 25, 2011 10:36pm Feb 25, 2011 10:36pm
Anyone caught this AUDJPY PB? Looks good to me, just missed it...
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  • #90,190
  • Feb 25, 2011 10:44pm Feb 25, 2011 10:44pm
Quoting Adilius07
Anyone caught this AUDJPY PB? Looks good to me, just missed it...
Hi Ad,

I'm in this one. I like the fact that we have closed above 83.000 gives me much more confidence. Will BE at FTA.
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  • #90,191
  • Feb 25, 2011 10:46pm Feb 25, 2011 10:46pm
Quoting vasmiza
Hi Ad,

I'm in this one. I like the fact that we have closed above 83.000 gives me much more confidence. Will BE at FTA.
Hi Vas, looks good to me! Let's see.
  • #90,192
  • Feb 25, 2011 10:59pm Feb 25, 2011 10:59pm
Quoting Adilius07
Hi Vas, looks good to me! Let's see.
depending on open next week I might tighten my stop, possibly move it below BRN
  • #90,193
  • Feb 25, 2011 11:04pm Feb 25, 2011 11:04pm
gu
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A chart helps those who can read it.
  • #90,194
  • Feb 26, 2011 12:05am Feb 26, 2011 12:05am
Quoting aserbfx
52.30 usd at the moment.
seems like a perfect setup. check yourself. i will post the chart over the weekend.
here is the chart...
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meine augen sind die sterne
  • #90,195
  • Feb 26, 2011 12:50am Feb 26, 2011 12:50am
I don't see anything tradable on daily or weekly for the next monday
  • #90,196
  • Feb 26, 2011 12:50am Feb 26, 2011 12:50am
weekly brcm.
retrace from 23.6% fib and rn 40 usd.
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meine augen sind die sterne
  • #90,197
  • Feb 26, 2011 12:51am Feb 26, 2011 12:51am
EJ is arriving at a possibly nice area for some bullish PA.
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  • #90,198
  • Feb 26, 2011 12:52am Feb 26, 2011 12:52am
weekly honeywell.
stock showed relative strength in the last week.
could run to the upper zone of the rectangle.
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meine augen sind die sterne
  • #90,199
  • Feb 26, 2011 12:53am Feb 26, 2011 12:53am
Quoting Adilius07
I don't see anything tradable on daily or weekly for the next monday
don't worry, mate. i am going to show you...
meine augen sind die sterne
  • #90,200
  • Feb 26, 2011 12:58am Feb 26, 2011 12:58am
Quoting aserbfx
weekly vfc near ppz and ready for an outbreak.
fridays daily bar was very strong on good volume closing on the high.
this puppy exploded and even touched the 100 usd. the rising voulme announced the breakout.
i didn't traded it, unfortunately.
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meine augen sind die sterne
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