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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

  • #90,561
  • Mar 2, 2011 9:21am Mar 2, 2011 9:21am
Quoting cprao
Thank you Mike.

I got that you will look for pullback and PA at the former area to initiate short positions.

However, I did not understand what do you mean - "as well as bars suggesting a breakout(pre-emptive) " - ? Can you please elaborate ?
Hey C

Refer to this post about pre-emptive

http://www.forexfactory.com/showpost...ostcount=90084

Best
Mike
  • #90,562
  • Mar 2, 2011 9:23am Mar 2, 2011 9:23am
Quoting mbqb11
Hey BC

There is really no place for a pin to form right night we are at such a deep swing high....
Thanks Mike
Just going through some old posts of yours on breakouts these past few days - thought i practice to spot them as they develop. Just watching and taking notes - not trading
  • #90,563
  • Mar 2, 2011 9:24am Mar 2, 2011 9:24am
Quoting Be Cool
Thanks Mike
Just going through some old posts of yours on breakouts these past few days - thought i practice to spot them as they develop. Just watching and taking notes - not trading
  • #90,564
  • Mar 2, 2011 9:37am Mar 2, 2011 9:37am
thank you very much! all of you most helpful thread ever

Bethel

Quoting mbqb11
Hey Bethel

These posts may help you. Risk:Reward is a very personal thing, but is often a topic that is misrepresented in the trading world too from my experience.


http://www.forexfactory.com/showpost...ostcount=70154
http://www.forexfactory.com/showpost...ostcount=70155

So the summary is there isn't one right way, but having other perspectives help so we don't get blinded by something too

Best
Mike
  • #90,565
  • Mar 2, 2011 9:38am Mar 2, 2011 9:38am
Quoting mbqb11
Hey C

Refer to this post about pre-emptive

http://www.forexfactory.com/showpost...ostcount=90084

Best
Mike
Thanks. That was a reply to my post also. Did not quite get that time.. now it is little more clear. Thank you !!
  • #90,566
  • Mar 2, 2011 9:39am Mar 2, 2011 9:39am
Quoting cprao
Thanks. That was a reply to my post also. Did not quite get that time.. now it is little more clear. Thank you !!
Don't worry I have studied each of James posts and videos about 100+ times each. That's the way to pick up on things we can't see at the time

Best
Mike
  • #90,567
  • Mar 2, 2011 9:53am Mar 2, 2011 9:53am
Quoting aserbfx
ready for the next downmove?
yes, thank you very much.
rr opened with a down-gap and was currently down more than 4%. i cover my position now with a win of 3.2%.
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meine augen sind die sterne
  • #90,568
  • Mar 2, 2011 10:04am Mar 2, 2011 10:04am
I have just closed my long on GU. My main problem is I always hesitate and close my positions early even though the market will end up running a long way in my favour. Any thoughts on GU are welcome?
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  • #90,569
  • Mar 2, 2011 10:12am Mar 2, 2011 10:12am
Quoting sammy31
I have just closed my long on GU. My main problem is I always hesitate and close my positions early even though the market will end up running a long way in my favour. Any thoughts on GU are welcome?
i think you are right . it is time to take profit .you can see the weekly chart ,there is a big down trend line on GU'S head.
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A chart helps those who can read it.
  • #90,570
  • Mar 2, 2011 1:14pm Mar 2, 2011 1:14pm
I personaly disregardet that PB on daily because of souch a strong move one day before and 3 highs wright at R... and i was wayting for a pul back ... but on 4h TF i didnt see any thing that would make me to go long ... but i did miss a nice PB at 38 fibo on 1h TF wich would bring atleaste 100 pips till nou .

And my toughts are to wayt for a pul back or that it makes a base on former resistance ... nou suport on daily TF .
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  • #90,571
  • Mar 2, 2011 1:23pm Mar 2, 2011 1:23pm
If we talk about weekly we should look allso at rising lows and that up trend is geting stronger ... atleaste from my point of view
+ 3 weeks same highs at R and it finaly broke tru ... so i gues it should continiue higer ...

And if the price closes abowe resistance this week then im gona still continiue to look for longs .
Some one should corect me if im wrong .
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  • #90,572
  • Mar 2, 2011 1:35pm Mar 2, 2011 1:35pm
Took long trade against better judgement (boredom is dangerous when trading) at break of high on marginal PB H1 having bounced off RN.

The other side of the trade was a profit of 32 pips because my stop was below RN however, the downside is potentially unlimited. Not attractive to the counter party.

Anyway stop now at BE so free trade.

Watch out for silly trades due to the feeling that you must be trading. It can hurt, believe me.

Trade doesn't show as I don't use FXCM to trade - just for charts.
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  • #90,573
  • Mar 2, 2011 1:44pm Mar 2, 2011 1:44pm
Quoting mbqb11
Hey BC

There is really no place for a pin to form right night we are at such a deep swing high....
Great Post to learn..this is BOOKMARKED..
Hey Mike...can u give me more example of BOXING EFFECT that James teaches...?

Good Trading!!
  • #90,574
  • Mar 2, 2011 1:56pm Mar 2, 2011 1:56pm
Quoting AvanishDemo
Great Post to learn..this is BOOKMARKED..
Hey Mike...can u give me more example of BOXING EFFECT that James teaches...?

Good Trading!!
Hey Avanish

HEre are more examples

http://www.forexfactory.com/showpost...ostcount=82302

http://www.forexfactory.com/showpost...ostcount=87983
  • #90,575
  • Mar 2, 2011 2:01pm Mar 2, 2011 2:01pm
Between trading , working full time and trying to keep up with the best thread and not to forget ones family ...it can be tough, but well worth it.

As I have been helped by many here and above all James for creating this fantastic place, I am throwing up some charts that may hopefully help someone else.

My Fondness of TT daily with Location,S/R, RN/BRN and the 61.8 Fib...although PA signals (bars) don't indicate the move ....be forewarned...takes practice like everything else one wants to do in life...play with it when you're waiting for other signals to occur.

Best to all,
Bill
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  • #90,576
  • Mar 2, 2011 2:24pm Mar 2, 2011 2:24pm
Quoting mbqb11
Hey Avanish

HEre are more examples

http://www.forexfactory.com/showpost...ostcount=82302

http://www.forexfactory.com/showpost...ostcount=87983
may i add the mother of all boxes
http://www.forexfactory.com/showpost...ostcount=89538
meine augen sind die sterne
  • #90,577
  • Mar 2, 2011 2:50pm Mar 2, 2011 2:50pm
any thoughts on this?
looks like a decent level for a 4h entry.
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  • #90,578
  • Mar 2, 2011 3:56pm Mar 2, 2011 3:56pm
Mike..
Breakout Trade?
4(3+1) bar highs..in yellow!

the latest one seem to be breaking out..jus watching these Breakout Trades to make myself understand it better....
u like it?
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  • #90,579
  • Mar 2, 2011 4:00pm Mar 2, 2011 4:00pm
Quoting AvanishDemo
Mike..
Breakout Trade?
4(3+1) bar highs..in yellow!

the latest one seem to be breaking out..jus watching these Breakout Trades to make myself understand it better....
u like it?
Hey Avanish

Since price is in a box and now closing as a BUOB outside the box and above the previous bars high it makes a good situation for a continuation trade. This is the type of stuff I look for. So the situation as a whole is a good one. Now I am a bit pickier then most so I won't trade it back into the 1.4 but you have the concepts better down how I use them

Best
Mike
  • #90,580
  • Mar 2, 2011 4:53pm Mar 2, 2011 4:53pm
Hi Mike et al,

What happened to daily pin bars on GBP pairs ( GBPUSD and GBPJPY)? It printed beautiful bearish pin bars but then went in opposite direction :-).

How do we manage such situations. Was I wrong in selling them? Appreciate any thoughts.

cheers
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