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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

  • #90,641
  • Mar 3, 2011 3:54pm Mar 3, 2011 3:54pm
Hope this does not amount to cluttering the thread but this was my First Successful J16 trade

Took the break of the Outside Bar (Which had closed above the PPZ). Took half off at the FTA and moved the stop to BE.

Best
Ganesh
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  • #90,642
  • Mar 3, 2011 3:56pm Mar 3, 2011 3:56pm
Quoting Pinbar
No, 40 pips is not too close but this BUEOB has 35 pips to the FTA, if we add a 15 pip buffer, we have less than 20 pips to the FTA if we calculate the spread. Are you telling me this was a viable trade? It only engulfed a single bar. Am I being too picky here?

No you're not being too picky. If the reasons were that the BUOB was not Big enough and the Low of the BUOB wasn't the lowest Low of the swing low . . (which would have made it bigger and pinnish looking). This right here would have made you picky and give it a pass, not because the FTA was too close.

I should have noted that again and looked at this setup as something to watch and not something to actually trade. . .sorry about that Pb.


Add this to SR2's analysis of non-picky Daily OBs that work out.
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Indicators show the past. Price Action "Indicates" the future.
  • #90,643
  • Mar 3, 2011 4:06pm Mar 3, 2011 4:06pm
Quoting Dan Gilbert
I miss James....
Me too.
Indicators show the past. Price Action "Indicates" the future.
  • #90,644
  • Mar 3, 2011 4:24pm Mar 3, 2011 4:24pm
Quoting ksganesh100
Hope this does not amount to cluttering the thread but this was my First Successful J16 trade

Took the break of the Outside Bar (Which had closed above the PPZ). Took half off at the FTA and moved the stop to BE.

Best
Ganesh
Nicely done sir

Mike
  • #90,645
  • Mar 3, 2011 4:25pm Mar 3, 2011 4:25pm
Quoting jarroo

Your playing Texas Hold'em and your dealt a pair of Bullets and there is an Ace on the flop. The guy across from you goes "All In". You're gong to call that guy no matter what the out come is . .its an A++ PA setup.

Now if the guy across from you is Mike . . .then I would worry . . lol
Not these days, I'd prob be the sucker at the table LOL
  • #90,646
  • Mar 3, 2011 4:46pm Mar 3, 2011 4:46pm
Quoting mbqb11
Not these days, I'd prob be the sucker at the table LOL
What's your pet hand Mike? Mine's 3 6 off. I always bet or raise the turn with them, and hit most of the time
  • #90,647
  • Mar 3, 2011 4:46pm Mar 3, 2011 4:46pm
Quoting mbqb11
Hey C

Yep, here is the clip from my webinar so you can see what I am saying, that may help
http://www.mediafire.com/?kgfy7a5hb6cq115


Best
Mike

Great stuff as always Mike . .


Here's what I saw inaddition to your great analysis. . . .and why the CLOSE is so important.

And an example of one that did work well on the Weekly.


Thanks Mike.
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Indicators show the past. Price Action "Indicates" the future.
  • #90,648
  • Mar 3, 2011 4:48pm Mar 3, 2011 4:48pm
Quoting mbqb11
Not these days, I'd prob be the sucker at the table LOL
Or holding an Ace-Ten straight on the flop. .
Indicators show the past. Price Action "Indicates" the future.
  • #90,649
  • Mar 3, 2011 4:52pm Mar 3, 2011 4:52pm
Quoting jarroo
You've been reading my mind . . . . .

Outside Bars Rule!!
LOL. I agree. They really are the best setup I have seen...very consistent. I only trade daily (at present) on FX but am looking at expanding into futures and stocks.

Will keep you and the others updated on progress. So far I can say that OBs have taken my trading to another level. I feel very comfortable trading OBs hence the reason for dropping other PA setups.

  • #90,650
  • Mar 3, 2011 4:58pm Mar 3, 2011 4:58pm
Quoting jarroo
Great stuff as always Mike . .


Here's what I saw inaddition to your great analysis. . . .and why the CLOSE is so important.

And an example of one that did work well on the Weekly.


Thanks Mike.
Excellent charts Jim. Really well explained.

SR2
  • #90,651
  • Mar 3, 2011 5:03pm Mar 3, 2011 5:03pm
Quoting sr2
LOL. I agree. They really are the best setup I have seen...very consistent. I only trade daily (at present) on FX but am looking at expanding into futures and stocks.

Will keep you and the others updated on progress. So far I can say that OBs have taken my trading to another level. I feel very comfortable trading OBs hence the reason for dropping other PA setups.

That's fanastic . .take that OB ball and run with it, my friend.

I too, have had a lot of success with OBs (their previous bar High/Low, etc)

I believe its because they tell a story of Price in and of itself. . .(PBT&CAorB, Buyers/Sellers, etc).


Yes, keep us updated . . . .

Thanks for all your work. . . truely.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #90,652
  • Edited 5:30pm Mar 3, 2011 5:12pm | Edited 5:30pm
Quoting jarroo
You've been reading my mind . . . . .

Outside Bars Rule!!

AUDUSD

Is this a good one, Jarroo?
the open is just 1 pip lower lower than the previous close though.
Thanks
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  • #90,653
  • Mar 3, 2011 5:14pm Mar 3, 2011 5:14pm
Quoting sr2
Excellent charts Jim. Really well explained.

SR2
Thanks SR2.

Notice in green, Price still could not close above and stayed below that level. Good info to have if your play the Daily or even the 4 Hour. ..
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Indicators show the past. Price Action "Indicates" the future.
  • #90,654
  • Mar 3, 2011 5:25pm Mar 3, 2011 5:25pm
Quoting anthoniex
Is this a good one, Jarroo?
the open is just 1 pip lower than the previous close though.
Thanks
I don't see an Outside Bar, but if you're referring to the highest close of that Resistance level, the 1.0182. . .then yes, its still a Resistance level.

Is this what you're asking??
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Indicators show the past. Price Action "Indicates" the future.
  • #90,655
  • Mar 3, 2011 6:33pm Mar 3, 2011 6:33pm
Quoting jarroo
Did you know that the 113.86 (114.00) was the highest close of Resistance on the Monthly Eur/Jpy? . . .nice one D.
Don't normally do continuation bars, but the weekly BUOB forming on EJ sure looks promising. If it closes above 115, it'll be tempting to go long. I see a good bit of confluence if the close is good...BRN, highest close prev resistance on weekly, consolidation box/ppz.

Rejection at 115 and I'll be looking to short back into the consolidation.
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  • #90,656
  • Mar 3, 2011 6:35pm Mar 3, 2011 6:35pm
Quoting anthoniex
EURJPY
the area has been tested a few times and the current up momentum is very strong. Any bias?
No bias, but this is a very good area to look for PA. Another option is to play pure bullish breakout without any PA. I don't think it can get any better than this.

Edit: donkey lmao, your chart is definitely much better than looking than mine. For some reason I don't have the BUOB on the weekly. lol
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  • #90,657
  • Mar 3, 2011 6:39pm Mar 3, 2011 6:39pm
Quoting Donkey
Don't normally do continuation bars, but the weekly BUOB forming on EJ sure looks promising. If it closes above 115, it'll be tempting to go long. I see a good bit of confluence if the close is good...BRN, highest close prev resistance on weekly, consolidation box/ppz.

Rejection at 115 and I'll be looking to short back into the consolidation.
Hi Donkey,

I like this one.. if we close above 115.70 we could have a nice ride to 120

Os.
Trade Smart
  • #90,658
  • Mar 3, 2011 6:48pm Mar 3, 2011 6:48pm
Hope the folks here don't mind, but here is a Dow chart---the story shows to me some good PA with some great S/R at or about the 12000-12030. The BEOB at the high worked out nicely and once again found support at the 12000 zone/61.8Fib confluence forming a non-classic PB. We get a move up to test the low of the BEOB. And gets rejected(Resistance). Back to test support again at the 12000/61.8 area and we get a neutral or could we say a IB7 approx.7 with a up close possibly hinting at another move up move to which we get today closing above prior resistance.

Any thoughts or comments to the story?
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  • #90,659
  • Mar 3, 2011 6:53pm Mar 3, 2011 6:53pm
i wish it had a bearish close..
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  • #90,660
  • Mar 3, 2011 7:00pm Mar 3, 2011 7:00pm
Took that Inverted pin bar in consolidation box on the break ! And where the price is going? Targeting upper end of the consolidation box. Stop loss at the other side of that pin .

Right story ?

Cheers V
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