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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

  • #90,761
  • Mar 4, 2011 9:49am Mar 4, 2011 9:49am
a resemble pinbar on eurjpy.
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A chart helps those who can read it.
  • #90,762
  • Mar 4, 2011 9:54am Mar 4, 2011 9:54am
Quoting lananpips
Hi All,
I saw this thread before but was just overwhelmed by the large amount of post to review.
But now i'm convinced that it should be worth it.
So this is my first post.

Any thoughts will help.
Thanks.
Every bar must be considered in context with the overall action. Here, you have a strong trend up, and this PB is not that strong. Look at the previous bullish bar too. Trade with the trend if you are a beginner......some pros only trade with trend.......oh, the swings are bigger trading with the trend.....just look at a trending chart!!!!!
  • #90,763
  • Mar 4, 2011 10:02am Mar 4, 2011 10:02am
Took this BEOB off the 4hr. Liked the rejection off the 1.52 and close below the 365. Would have liked to see the close below the low of the previous bar, but we did get a close below the close.

Closed 50% @ 37.4 Moved to BE and was holding out till 1.500. As I type though, Stopped @ BE.

Quick few pips.
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  • #90,764
  • Mar 4, 2011 10:19am Mar 4, 2011 10:19am
[quote=Ifmyante;4447033]
Quoting sr2
If you'd like an hand SR2, let me know your format and rules and a given time period, and I'm in
Thanks for the offer, really appreciated. I need to get a few things sorted out after which I may be in touch
  • #90,765
  • Mar 4, 2011 10:26am Mar 4, 2011 10:26am
Swing low at a nice PPZ on daily, nice looking proxy pin bar on 4 hourly .

Targeting consolidation box highs. I know it is not A1 but fibo ret 50 is there too.

Right or wrong ?
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  • #90,766
  • Mar 4, 2011 10:29am Mar 4, 2011 10:29am
Quoting mbqb11
Yep simple is better, James ain't lying. I have certainly spent my fair share of time over complicating and stripping down(the charts)

I run two different times every other week, shoot me a PM about another possible time options, I am always open to it

Enjoy the weekend bud
Mike
Thanks Mike appreciate it. You have a good weekend too.

Cheers
  • #90,767
  • Mar 4, 2011 10:33am Mar 4, 2011 10:33am
Quoting Zoomie
Every bar must be considered in context with the overall action. Here, you have a strong trend up, and this PB is not that strong. Look at the previous bullish bar too. Trade with the trend if you are a beginner......some pros only trade with trend.......oh, the swings are bigger trading with the trend.....just look at a trending chart!!!!!
Thanks for the input Zoomie.
When the internal struggle ends, everything becomes easy - Mr. Douglas
  • #90,768
  • Mar 4, 2011 11:11am Mar 4, 2011 11:11am
Another Euro-Bund I may have let get away.

Would I be right though in assuming that the adage about welding is the same for price at PPZ -
Penetration is key!?
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  • #90,769
  • Mar 4, 2011 11:16am Mar 4, 2011 11:16am
Quoting mbqb11
just a nice simple trade to close up friday

BEOB swing high
BRN 135
Divergence

Take profit just under 134
So simple, yet brilliant.

Thanks for sharing this chart Mike. Helps us newbies gain insight into how the pros trade
  • #90,770
  • Mar 4, 2011 11:31am Mar 4, 2011 11:31am
Quoting ghous
yes Avanish, the bullish close was a worry...not the biggest one though...

My biggest worry was the lack of story. 1.37 has never been touched before. We had a real strong rejection off the 1.36 back in 2000, if the IPB had been off this RN instead of the 1.37 the story would have been better.

Interestingly notice the low of the IPB. Draw the 1.36 on your daily chart and notice the PA. The IPB was really just a breakout + Pull back to the 1.36.

Remember we have to be extremely picky with our IPBs!

g.
Oh ok
yes 1.37 is jus a mere RN..no price histrory..wil Bookmark this post..good u said abt 2000 era ..didn't knew that long lost price reaction wil also make some difference..lol..
Good Trading!
  • #90,771
  • Mar 4, 2011 11:40am Mar 4, 2011 11:40am
Quoting AvanishDemo
Oh ok
yes 1.37 is jus a mere RN..no price histrory..wil Bookmark this post..good u said abt 2000 era ..didn't knew that long lost price reaction wil also make some difference..lol..
Good Trading!
When price touches a PPZ level within a 50 pips range and then bounces off 1800 pips without looking back its got to be important, 10 years back or otherwise.



g.
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I believe . . .
  • #90,772
  • Mar 4, 2011 11:58am Mar 4, 2011 11:58am
Quoting mbqb11
Yep simple is better, James ain't lying....

Mike
my motto...
  • #90,773
  • Mar 4, 2011 12:00pm Mar 4, 2011 12:00pm
Quoting ghous
When price touches a PPZ level within a 50 pips range and then bounces off 1800 pips without looking back its got to be important, 10 years back or otherwise.



g.
Hmmm...didn't really had a look on monthly chart..now the PPZ makes sense!!
  • #90,774
  • Mar 4, 2011 1:52pm Mar 4, 2011 1:52pm
Nice pin bar at minor flip zone in a consolidation triangle probably will target the bottom of this week low ,

And tighten stop on the lower time frame to possible break out !

But I think this is easy money next week with a tight stop ))

Comments
Welcome ..

V
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  • #90,775
  • Mar 4, 2011 3:52pm Mar 4, 2011 3:52pm
Quoting menomoo
Nice pin bar at minor flip zone in a consolidation triangle probably will target the bottom of this week low ,

And tighten stop on the lower time frame to possible break out !

But I think this is easy money next week with a tight stop ))

Comments
Welcome ..

V
Hi V

There could well be a fight between price and support.

I think I'd be waiting for a bearish breakout and retrace, or a bullish move from the TL.


Michael
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  • #90,776
  • Mar 4, 2011 3:58pm Mar 4, 2011 3:58pm
I see that but I like that quick move idea very much to the lows due to the relative rejection of the price at this level and see how much rejection to the recent up swing of the past few days..

just feel looks good to the lows of last week .But after that like you said jury is out untill a bearish move of the break of that TL ;would love to hear mikes and jim s view too

Cheers
V
  • #90,777
  • Mar 4, 2011 4:00pm Mar 4, 2011 4:00pm
How do get that set up of the lower time frames on the right of your chart again ?

Thanks in advance

Cheers

V
  • #90,778
  • Mar 4, 2011 4:30pm Mar 4, 2011 4:30pm
I am trying this method on 4H and Daily charts like the thread suggest in the rules for new traders.

However, when we trade in long term, like the thread is suggesting, we must pay a lot of interest to the broker to keep the trade open...

So, I come again to the conlusion that we need to trade intraday like most people do.... so trading in long term like daily, and leave a trade open for 1 month, is impossible, because we lose a lot in interest.. and it's not 0.01% or something that you can pay, it's literally A LOT.

I am testing with a micro live account with XAUUSD long term right now and losing lots of interest every day. Of course in micro account is cents, but it's a lot in terms of percentage. So if you translate to a 10K account, is the same but more money.
The Black Swan: The Impact of the Highly Improbable
  • #90,779
  • Mar 4, 2011 4:50pm Mar 4, 2011 4:50pm
finally i step foot back onto this thread. left this thread a few months back because i was busy with school. i;m having my holidays now and is back on forex. stopped the PF after 4 months not because it wasn't good. but because i was financially tight. i miss the PF.

anyone mind updating me? have anything changed recently? are we still trading PB, IB, BUOB, BEOB.
using PP, and fib retracements, RN for PA?

or am i outdated?
  • #90,780
  • Mar 4, 2011 5:32pm Mar 4, 2011 5:32pm
Quoting Ifmyante
Another Euro-Bund I may have let get away.

Would I be right though in assuming that the adage about welding is the same for price at PPZ -
Penetration is key!?
Another Bund trader! Way to go!

Tom
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