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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

  • #91,301
  • Mar 10, 2011 6:21am Mar 10, 2011 6:21am
Quoting mbqb11
Hey like the saying goes, you're your own best friend
There is Put Adilius07 on Your Ignore List too...but I really don't even want to experiment with this, cause I just cannot imagine the cosequences of this...

Well I try to delete myself now, embarrasing this thing...
  • #91,302
  • Mar 10, 2011 6:37am Mar 10, 2011 6:37am
Thank you Mike

Quoting mbqb11
Hey Sammy

For me those bar lows are not matching enough. I want them to be pretty exact(to the pip is better) and also the more the merrier for me

Best
Mike
  • #91,303
  • Mar 10, 2011 6:45am Mar 10, 2011 6:45am
Can this be ok at the end of the day?
Thanks
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  • #91,304
  • Mar 10, 2011 7:11am Mar 10, 2011 7:11am
Quoting Panthera
Can this be ok at the end of the day?
Thanks
If I may. It is not my favorite pair lately and a lot of time till day's end. But I think if it manage to close like this it will be ok for me. FTA is the red line.
Just my opinion. Location is good, traffic not good.
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  • #91,305
  • Mar 10, 2011 7:19am Mar 10, 2011 7:19am
I know, Bad memories....
I will keep my eye on it too.
Thanks!
  • #91,306
  • Edited 8:43am Mar 10, 2011 8:28am | Edited 8:43am
Hey Mike n Jarroo..Hello!
well i need to know if this was a good BEOB..do u guys go for BEOBs/BUOBs when its trapped in consolidation areas given that BEOB/BUOB having a good shape,location etc..
I liked the BEOB(engulfing 4 bars+Confluence,wow,looks strong) but i could not go for it as its trapped in the consolidation..but i also see BEOBs/BUOBs work most of the time..(i dnt knw if im right with this,but dat was my experience till now)..do u guys go for such trades?


P.S. i think Jarroo posted this earlier abt this BEOB but still need clear advice!
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  • #91,307
  • Mar 10, 2011 8:35am Mar 10, 2011 8:35am
Quoting mbqb11
Hey Sammy

For me those bar lows are not matching enough. I want them to be pretty exact(to the pip is better) and also the more the merrier for me

Best
Mike
Let's see how the weekly closes,but if it closes as it is now,the weekly gbpusd seems very nice for me.
Nothing personal,just business
  • #91,308
  • Mar 10, 2011 8:38am Mar 10, 2011 8:38am
Quoting Adilius07
If I may. It is not my favorite pair lately and a lot of time till day's end. But I think if it manage to close like this it will be ok for me. FTA is the red line.
Just my opinion. Location is good, traffic not good.
There is a strong corelation on cad-oil last days and it looks like Oil is taking some air right now. With strong selloff on commodities today and weak indexes CJ might be good on the short side. 85.20 - 85.35 looks like a strong intraday resistance area.
  • #91,309
  • Mar 10, 2011 8:43am Mar 10, 2011 8:43am
Quoting Greenhaze
There is a strong corelation on cad-oil last days and it looks like Oil is taking some air right now. With strong selloff on commodities today and weak indexes CJ might be good on the short side. 85.20 - 85.35 looks like a strong intraday resistance area.
this is really too advanced for me at this level. Just don't understand this.
can you recommend any link or book I can study about corelation?
  • #91,310
  • Mar 10, 2011 8:59am Mar 10, 2011 8:59am
Quoting Adilius07
this is really too advanced for me at this level. Just don't understand this.
can you recommend any link or book I can study about corelation?
Just read Raczekfx / Lovejoy80 / BRV threads if You didn't yet to get some idea. Intramarket analysis is just another tool in the box.
  • #91,311
  • Mar 10, 2011 9:02am Mar 10, 2011 9:02am
Quoting Greenhaze
Just read Raczekfx / Lovejoy80 / BRV threads if You didn't yet to get some idea.
Ok, thanks! Will definitely look through those names!
  • #91,312
  • Mar 10, 2011 9:17am Mar 10, 2011 9:17am
Quoting Adilius07
this is really too advanced for me at this level. Just don't understand this.
can you recommend any link or book I can study about corelation?
There is a lot of info in the net..but the ones that come up rite now are..

AUD and CAD are commodities currency ....if GOLD goes up AUD will go up, the same on CAD with OIL.

AUD ------------- CAD
GOLD ------------- OIL

JPY AND CHF are safe heaven currencies, whenever the investors are scared due to war or political problems this currencies will get stronger.

Here is the other way around.

EUR/USD 80% CORRELATION WITH USD/CHF (If eur/usd goes up.. USD/CHF goes down)

USD index WITH SP500 (if usd goes up sp500 goes down)

From my little experience, I would suggest to trade based on your charts and forget about this cause ull go crazy, lol !!
Os.
Trade Smart
  • #91,313
  • Mar 10, 2011 9:56am Mar 10, 2011 9:56am
Quoting AvanishDemo
Hey Mike n Jarroo..Hello!
well i need to know if this was a good BEOB..do u guys go for BEOBs/BUOBs when its trapped in consolidation areas given that BEOB/BUOB having a good shape,location etc..
I liked the BEOB(engulfing 4 bars+Confluence,wow,looks strong) but i could not go for it as its trapped in the consolidation..but i also see BEOBs/BUOBs work most of the time..(i dnt knw if im right with this,but dat was my experience till now)..do u guys go for such trades?


P.S. i think Jarroo posted this earlier abt this BEOB but still need clear...
My thoughts

and for Adi, do you see how you can use the pullback level for stop movement if you want to give a trade more room but still reduce risk?
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  • #91,314
  • Mar 10, 2011 10:26am Mar 10, 2011 10:26am
Hi Mike i just finished watching all your videos ( watched them few times so hopefuly they will stay in my head ) ... and all i can say you are great teacher and a few things that i dindt qute understand are nou clear as day

For every one who is new to this tread its a MUST to watch those videos !
it wil save you qute a few questions

Thank you Mike and every one else who made this tread what it is nou .
  • #91,315
  • Mar 10, 2011 10:53am Mar 10, 2011 10:53am
Quoting Adilius07
this is really too advanced for me at this level. Just don't understand this.
can you recommend any link or book I can study about corelation?
Hi Adi

I find this handy

http://www.mataf.net/en/tools/01-01-correlation
  • #91,316
  • Mar 10, 2011 11:43am Mar 10, 2011 11:43am
Quoting FxPrelude
Hi Mike i just finished watching all your videos ( watched them few times so hopefuly they will stay in my head ) ... and all i can say you are great teacher and a few things that i dindt qute understand are nou clear as day

For every one who is new to this tread its a MUST to watch those videos !
it wil save you qute a few questions

Thank you Mike and every one else who made this tread what it is nou .
glad they helped bud

Mike
  • #91,317
  • Mar 10, 2011 12:56pm Mar 10, 2011 12:56pm
Eu/USD So does this sound ok ? This area definetely watch area now !

Lets see how decisive the close is .The stronger the better right ?

AUD/USD Price droke through the ternd line in a nice fashion and fast approaching a nice zone ? Fishing for something ?

GBP/USD That awsome BIG BEOB ( One of JAROO specials )still in effect nicely , and approaching one of MIKE' s love affair zones, big round number. Something worth while to watch PA I suppose )

Cheers V
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  • #91,318
  • Mar 10, 2011 1:12pm Mar 10, 2011 1:12pm
Just some charts..update on...looks like my cad/jpy went to my second target ....but was stopped out earlier

2 other pairs I was watching but had some other matters at hand ....did not have time to manage them so stayed out.

The U/jpy would have taken some heat ( 20 pips) but was positive for some pips.
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  • #91,319
  • Mar 10, 2011 1:25pm Mar 10, 2011 1:25pm
Although I'm not big on the Fib 38....this is looking like a great ppz to TT short....we shall see...watching
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  • #91,320
  • Mar 10, 2011 1:26pm Mar 10, 2011 1:26pm
Quoting Ifmyante
Hi Adi

I find this handy

http://www.mataf.net/en/tools/01-01-correlation
Oh man this is scary. I bookmarked it, thanks, will go through it later. Need to focus on my trade management skills now. Thanks!
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