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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

  • #92,241
  • Mar 24, 2011 2:03pm Mar 24, 2011 2:03pm
Quoting FxPrelude
The thing is that the rules about where you take the BUOB or BEOB it make me a bit confused ...
PB i took it simple ... only swing low or swing high + BRN and most prefered 50 fibo if swing low ... if there is a nice confluence and nice space ... i will take it hehe

With OB i notice you can trade them after consolidation , flags , wedges ...etc
Hey FxP

You can do the same with outside bars, both bars are just an aggregation of price. I take both bars in all kinds of scenarios. But initially as James teaches keep your focus on finding these bars at swing points(buobs/bullish pins/DBLHC swing lows, Beobs/bearish pins/DBHLC swing highs.

It will keep you on track and focused. What happens is people just see a bar and trade it, by doing the above you stay focused and look for and mimic how James teaches. It is the smartest thing to do in my view

Best
Mike
  • #92,242
  • Mar 24, 2011 2:03pm Mar 24, 2011 2:03pm
I am reading this thread and like it a lot. It seams to really gives a trader the meats and the potatoes of the trading world. Can someone please tell me up to which page a person should read this thread to get the most out of this thread or read the entire thread. It has become a monster.

Yogi
  • #92,243
  • Mar 24, 2011 2:05pm Mar 24, 2011 2:05pm
Quoting mbqb11
Hey FxP

The story(location) + the bar is most important....
Thanks alot again Mike soon ill have to send you a case of beer or a botle of some good whisky for your good will and learning lesons
  • #92,244
  • Mar 24, 2011 2:05pm Mar 24, 2011 2:05pm
Quoting FxPrelude
Thanks alot again Mike soon ill have to send you a case of beer or a botle of some good whisky for your good will and learning lesons
  • #92,245
  • Mar 24, 2011 3:01pm Mar 24, 2011 3:01pm
Hi,

I wonder if this is a good way to look for set up. What say you?

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Kind Regards zol
  • #92,246
  • Mar 24, 2011 3:29pm Mar 24, 2011 3:29pm
And Gold is now showing a BEOB at 2 top with Div. FTA is close, so very tight trade management would be needed...
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  • #92,247
  • Mar 24, 2011 3:50pm Mar 24, 2011 3:50pm
Any comments on Natural gas? Daily Beob forming at great location.

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pat
  • #92,248
  • Mar 24, 2011 4:14pm Mar 24, 2011 4:14pm
Quoting mbqb11
Welcome TT

Glad to see you get back to demo , it's the smartest thing you can do

X gave you a good answer below

We want to see this bar at a better swing low. It's up near a swing high so you will be immediately hitting trouble areas.

Welcome to the thread ask as many questions as you need
Mike
Thanks for the inputs Mike and X, I just got back from work and I can see my position went up a bit on that trade. Since it is indeed true that the PB is in a traffic area, it's time to take half of the profit and set my stop to BE. Let's see where the other half will go. I will be more picky next time
  • #92,249
  • Mar 24, 2011 4:17pm Mar 24, 2011 4:17pm
Quoting ghous
Yup! Good eye MC.

Something around the 1.37 for instance would have been better.

g.
Yes that's a strong area. I'll look for good PA near 1.37.
  • #92,250
  • Mar 24, 2011 4:39pm Mar 24, 2011 4:39pm
Quoting Adilius07
And Gold is now showing a BEOB at 2 top with Div. FTA is close, so very tight trade management would be needed...
Where would you put your stop Adi?
  • #92,251
  • Mar 24, 2011 4:42pm Mar 24, 2011 4:42pm
Quoting Greenhaze
Where would you put your stop Adi?
it is now behind that left eye @1442.10 but I will reduce it quickly by moving behind the breakout bar (it it breaks). My entry would be @1422.35

"Desired" target is @1400
  • #92,252
  • Mar 24, 2011 5:21pm Mar 24, 2011 5:21pm
Long from 1.6096. Looking at divergence on H1. Stop 1.6087. Let's see where this takes us.

K.I.S.S.
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  • #92,253
  • Mar 25, 2011 12:44am Mar 25, 2011 12:44am
unilever on daily with a strong close. be prepared for breakout and an approach of 1900 p.
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meine augen sind die sterne
  • #92,254
  • Mar 25, 2011 1:46am Mar 25, 2011 1:46am
possible breakout on ph (daily). above 94 usd buy. steep approach of the resistance-zone.
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meine augen sind die sterne
  • #92,255
  • Mar 25, 2011 3:08am Mar 25, 2011 3:08am
Hi all,

Have lurked here for a while now. Never posted.

Can I ask a question, it will make me sound like a beginner......(well I suppose I still am)..

I trade in Australia and notice the daily candle closes late in the evening for us. Would this make any difference with this style of trading.

As in would we miss optimal entries?

Not sure if I am clear with what I am asking. Any help would be appreciated.

Also as I read through this thread it is nice to see so many people helping the new and inexpirenced traders.

Thanks!!
  • #92,256
  • Mar 25, 2011 6:06am Mar 25, 2011 6:06am
Hi,
I try again after yesterday shame.....
So is this a fine BUOB?

Swing high, clear pace below, div on H1, RNB

But no fib. and a little afraid of GPB on this week.

Any comment.
Thanks
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  • #92,257
  • Mar 25, 2011 6:34am Mar 25, 2011 6:34am
I was looking for short ( if it break) so wanted to write BEOB, but do not look like want to go short way .....right now.

I thing I need to buy a crystal ball, It would work better than me....

Mónika
  • #92,258
  • Mar 25, 2011 7:22am Mar 25, 2011 7:22am
Quoting Panthera
I was looking for short ( if it break) so wanted to write BEOB, but do not look like want to go short way .....right now.

I thing I need to buy a crystal ball, It would work better than me....

Mónika
Hi Monika. I hope you don't mind if I put in a couple of thoughts. I see a pretty small bar following a strong move up. Notice how the close is toward the middle of the bar. I like to the close more near the low of the candle for a BEOB and the high of the candle for the BUOB.

I see a beautifully shaped buob around March 10 on your chart. It would be perfect if it were at deeper swing low. If the candle you were looking at were shaped like that and bearish obviously, I would like it much better.

And...you don't need a crystal ball, just time in front of the charts so that locations and bars just jump off the screen at you.
  • #92,259
  • Mar 25, 2011 7:24am Mar 25, 2011 7:24am
Quoting xxxxLearner
Hi all,
Have lurked here for a while now....
I trade in Australia and notice the daily candle closes late in the evening for us. Would this make any difference with this style of trading.
As in would we miss optimal entries?
...
Hello xxxxLearner,
it wont make much difference.
good trades happen at any time.
trade your chart.... u can opt to have another chart/broker that has a different daily candle close.
several here watch 2 or more charts/brokers that got different daily closes (/from different timezones).

hope to see more posts from u!


Quoting Panthera
Hi,
I try again after yesterday shame.....
So is this a fine BUOB?
Swing high, clear pace below, div on H1, RNB

But no fib. and a little afraid of GPB on this week.
...
Hello Mónika,
yes, eur has been stronger than gbp.. you're correct.
also, that BEOB is very small. compare it with the 3 big green up candles prior this beob.
we want good-sized candles like these 3, as generally they exude authority/confidence.

this small BEOB can reach your FTA (pink line), of course that's possible.
but is it a high probability possibility? not really. maybe a few bars from now, the weakness can continue, which can give a short trade a slightly better chance of moving down.

remember, it's a Friday & we are off to a party, aren't we? that means less traders trading today/later..
hope this helps

happy weekend all!
  • #92,260
  • Mar 25, 2011 8:36am Mar 25, 2011 8:36am
Hello,
I have thought about taking the 4 hr AUD/USD set up. On the daily there is an old high (all time high) to the left and the 4 hr shows an inside pinbar near that high. Unfortunately the 1.0250 was only tested one time as resistance (1.0250 was never support). I have decided to don't take the trade because of the "weakness" of that level. Any comments?
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