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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

  • #91,421
  • Mar 11, 2011 7:05am Mar 11, 2011 7:05am
Quoting mbqb11
cad/jpy that I will be sending like SR2
Hi Mike, Beautiful setup! Too bad I just got home, those most liquid times are impossible to trade for me due to other responsibilities like job (

Are you still in this trade or where did you have your TP?
  • #91,422
  • Mar 11, 2011 7:14am Mar 11, 2011 7:14am
Quoting Pinbar
WTF....Major Earthquake in tokyo....been swinging here for 15 mins.

Everytime I reply to Jarroo, and earthquake.

I was under the table with my wife and 2 cats.

Still swinging.
Pin glad to see you ok. I know we have others all over Japan, my thoughts with you all
  • #91,423
  • Mar 11, 2011 7:27am Mar 11, 2011 7:27am
Quoting mbqb11
Pin glad to see you ok. I know we have others all over Japan, my thoughts with you all
Yeah, thanks Mike appreciate it.

They just found 300 bodies in Sendai, probably from the tidal wave.
Also, a nuclear power plant in Miyagi is about to melt down because, they couldn't get the emergency generators going.

If anyone knows people in Sendai, better check on them.
  • #91,424
  • Mar 11, 2011 7:38am Mar 11, 2011 7:38am
Is it correct?
Any idea?
Thanks
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  • #91,425
  • Mar 11, 2011 7:38am Mar 11, 2011 7:38am
Quoting Adilius07
Hi Mike, Beautiful setup! Too bad I just got home, those most liquid times are impossible to trade for me due to other responsibilities like job (

Are you still in this trade or where did you have your TP?
Hey Adi

Thanks, would you say this jumps out at you? These setups occur on the daily/weekly just need to watch more pairs/other markets to get that exposure. The worst thing to do is try trading the lower timeframes in the less liquid times(ala euro 4hr pin we discussed earlier).

I wrote my exit plan on the chart. I am trailing above each hourly high wherever that ends up

Best
Mike
  • #91,426
  • Mar 11, 2011 7:51am Mar 11, 2011 7:51am
Be safe pinbar.

I live virtually at the epicenter of the quake in New Zealand 2 weeks ago and seeing your quake coverage triggered my experience here only two weeks ago - terrifying. My heart goes out to all in Japan.

With kind regards,
MK
  • #91,427
  • Mar 11, 2011 7:53am Mar 11, 2011 7:53am
This looks very ugly .... Steve ! My thoughts with you and all out there in Japan !!!

Be safe brother !!!

V
  • #91,428
  • Mar 11, 2011 8:01am Mar 11, 2011 8:01am
Quoting menomoo
Man sorry to hear the earthquake and I sincerely everybody is ok !

cheers V

Thanks for the thought MM and everyone else, that I may have missed between ducking under the table and waiting for the swinging to stop.

You guys are the best.

Yeah, it is getting worse or rather the details of what actually went down are.
They just reported 400 more people missing.
  • #91,429
  • Mar 11, 2011 8:04am Mar 11, 2011 8:04am
Quoting MidKnight
Be safe pinbar.

I live virtually at the epicenter of the quake in New Zealand 2 weeks ago and seeing your quake coverage triggered my experience here only two weeks ago - terrifying. My heart goes out to all in Japan.

With kind regards,
MK

Wow....I can understand that.

Thanks for the moral support.

You still getting after quakes?

Stay safe my friend.
  • #91,430
  • Mar 11, 2011 8:10am Mar 11, 2011 8:10am
Quoting Pinbar
Wow....I can understand that.

Thanks for the moral support.

You still getting after quakes?

Stay safe my friend.
Yup, a couple dozen per day....Over 4900 noticeable aftershocks since this all started back in SEPT they tell us. I'm sick of it, haven't slept good since this last one. It keeps you on edge.

You guys in Japan will be on my mind a lot this weekend.

My best wishes,
MK
  • #91,431
  • Mar 11, 2011 8:24am Mar 11, 2011 8:24am
Quoting mbqb11
Hey Adi

Thanks, would you say this jumps out at you? These setups occur on the daily/weekly just need to watch more pairs/other markets to get that exposure. The worst thing to do is try trading the lower timeframes in the less liquid times(ala euro 4hr pin we discussed earlier).

I wrote my exit plan on the chart. I am trailing above each hourly high wherever that ends up

Best
Mike
Yep. That one really jumps out. True pitbull!

Mike, what do you think trading in 8 am, 9 am, 10 am NYC time?
Like right now for example, can we say it is tradable time?

I know London time is best (saw this mentioned many times) but it's impossible for me to do..
  • #91,432
  • Mar 11, 2011 8:34am Mar 11, 2011 8:34am
Quoting Adilius07
Yep. That one really jumps out. True pitbull!

Mike, what do you think trading in 8 am, 9 am, 10 am NYC time?
Like right now for example, can we say it is tradable time?

I know London time is best (saw this mentioned many times) but it's impossible for me to do..
Hey Adi

those are fine times. I trade mainly(intraday) from 3am - 11am est. Dead days I tend to be less willing to get involved later in the day. Since the markets are volatile now I am fine with being involved during this time. This is the main part of the NY session and that is all good

Best
Mike
  • #91,433
  • Mar 11, 2011 8:36am Mar 11, 2011 8:36am
Quoting mbqb11
Hey Adi

those are fine times. I trade mainly(intraday) from 3am - 11am est. Dead days I tend to be less willing to get involved later in the day. Since the markets are volatile now I am fine with being involved during this time. This is the main part of the NY session and that is all good

Best
Mike
OK, thanks! Got it now. thanks.
  • #91,434
  • Mar 11, 2011 8:39am Mar 11, 2011 8:39am
so Mike, if you see a setup at the end of the day 5pm est you wait to enter your position?

Quoting mbqb11
Hey Adi

those are fine times. I trade mainly(intraday) from 3am - 11am est. Dead days I tend to be less willing to get involved later in the day. Since the markets are volatile now I am fine with being involved during this time. This is the main part of the NY session and that is all good

Best
Mike
  • #91,435
  • Mar 11, 2011 8:43am Mar 11, 2011 8:43am
Quoting Patrick.
so Mike, if you see a setup at the end of the day 5pm est you wait to enter your position?
Hey Patrick

If it is a 4hr or under trade I just don't trade it. If it is a daily bar I am fine entering any time as the bar is representing 24hrs of information and if it triggers during the next 24 hrs anytime that is my way of viewing momentum.

I do take trades on "off times" but they might represent 5% or so of my overall intraday trades(4hr and under)

Best
Mike
  • #91,436
  • Mar 11, 2011 8:45am Mar 11, 2011 8:45am
hyello everyone...
if this bar close as is now....what do you think guys?
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  • #91,437
  • Mar 11, 2011 8:52am Mar 11, 2011 8:52am
Hey Mike, with regard to your CADJPY trade, I know there were other factors making up the story, but do you prefer that shape of 4Hr BEOB with the really long nose to the 4Hr BEOB on GBPJPY about the same time which had a longer body but still closed near its low ? Is there a difference ? I assume the CADJPY bar better represented a definitive reject of the higher price ?
  • #91,438
  • Mar 11, 2011 8:55am Mar 11, 2011 8:55am
Quoting billm
Hey Mike, with regard to your CADJPY trade, I know there were other factors making up the story, but do you prefer that shape of 4Hr pin with the really long nose to the 4Hr BEOB on GBPJPY about the same time which had a longer body but still closed near its low ? Is there a difference ? I assume the CADJPY bar better represented a definitive reject of the higher price ?
Hey Bill

I would have taken either shape bar if that is what you mean. The difference is the story and confluence behind the cad/jpy was the best of the bunch for me. The strengthening yen across the board is something I noted as another reason to find a way into selling the xxx/jpy and the cad/jpy fit the best story for me. The bars themselves we use are just trigger points into a trade

Hope that helps
Mike
  • #91,439
  • Mar 11, 2011 8:59am Mar 11, 2011 8:59am
Quoting mbqb11
Hey Bill

I would have taken either shape bar if that is what you mean. The difference is the story and confluence behind the cad/jpy was the best of the bunch for me. The strengthening yen across the board is something I noted as another reason to find a way into selling the xxx/jpy and the cad/jpy fit the best story for me. The bars themselves we use are just trigger points into a trade

Hope that helps
Mike
notice the shape of this beob. Just a trigger point in
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  • #91,440
  • Mar 11, 2011 9:01am Mar 11, 2011 9:01am
Quoting mbqb11
Hey Patrick

If it is a 4hr or under trade I just don't trade it. If it is a daily bar I am fine entering any time as the bar is representing 24hrs of information and if it triggers during the next 24 hrs anytime that is my way of viewing momentum.

I do take trades on "off times" but they might represent 5% or so of my overall intraday trades(4hr and under)

Best
Mike
Mike, may I ask last question please. Suppose this was a good time would you take that trade? I love the bar but FTA is right above, or not? It really broke nicely and went far beyond..
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