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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

  • #94,501
  • Apr 27, 2011 2:40pm Apr 27, 2011 2:40pm
Quoting mbqb11
No worries Jon

Here was an example of a flag pattern that to me was tradeable and I took today based on breakout and pullback.

Clear up trend, clear flag panel with obvious TL, clear PA, BRN
thanx...

snap!...lol although i had my TL in a slightly different place, this was one of those TLs i let pass.have to say though i like yours better.just shows how subjective and tricky TLs can be! mines on demo so closed some and gonna try and hold for a while.

cheers

jon
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PATIENCE... DISCIPLINE
  • #94,502
  • Apr 27, 2011 3:32pm Apr 27, 2011 3:32pm
Quoting Panthera
Hi Guys!

I know it is not a swing low but a huge BUOB and BRN.
The MA would be nicer to go under it and not crossig it.
I am sure it is not A+....
Any comment.
Mónika
Hey Mónika,

I'm no expert, but this one interests me. I see the 135.5 area as a broken PPZ. I'd like to see the daily bar close above it and the area now act as resistance. If I see some PA on a retrace (possibly on a lower time frame), I may go long. FTA exactly where you've shown. I wonder if anyone here will touch trade this one?

Thanks for posting,

Just my thoughts, Tomek
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  • #94,503
  • Edited 3:54pm Apr 27, 2011 3:35pm | Edited 3:54pm
Hey guys,
did not have much time to post due to an official journey and a lot of work. Hope you are all well.
I´m watching EJ and interested in if the price will retest the 120.1x area.
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Regards
Jarda
Follow my trading on Twitter and FB: @pumlitch
  • #94,504
  • Edited 4:20pm Apr 27, 2011 3:56pm | Edited 4:20pm
Quoting zoli
Attachment
This pair was discussed earlier today.

A channel was drawn to include the recent bars.
I drew a parallel channel which today's bar had not got to the top of at that time.
Just came back to it and during the day it had.

So we have a BUOB in the channel.
Top side breach of this bar comes straight out the top of the channel.

Earlier I discussed the way this chart moves on fibs++++

This looks a good set up for a long.

Maybe a bit late - it has just exploded upwards.
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  • #94,505
  • Apr 27, 2011 4:56pm Apr 27, 2011 4:56pm
How do you guys manage a trade which goes in to an area where the price never was ( all time low/high)?
  • #94,506
  • Apr 27, 2011 5:12pm Apr 27, 2011 5:12pm
Quoting 5.25
Hey Mónika,

I'm no expert, but this one interests me. I see the 135.5 area as a broken PPZ. I'd like to see the daily bar close above it and the area now act as resistance. If I see some PA on a retrace (possibly on a lower time frame), I may go long. FTA exactly where you've shown. I wonder if anyone here will touch trade this one?

Thanks for posting,

Just my thoughts, Tomek
I like the hard close above 135.5 too but i pass on it because the FTA is for me too close. Take a look on the 137.00 RN on the past and the EMA that you have on the chart i don´t know which one it is.

comments and critics welcome ;-)
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  • #94,507
  • Apr 27, 2011 5:41pm Apr 27, 2011 5:41pm
Here's one I'm looking at with BUOB at a swing and support. Feedback welcome
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  • #94,508
  • Apr 27, 2011 5:52pm Apr 27, 2011 5:52pm
Quote
yeah sorry, i meant for a long with the stop below 120

jon
Gotcha!

Thanks
How bad do you want it? That's the attitude!
  • #94,509
  • Apr 27, 2011 5:59pm Apr 27, 2011 5:59pm
Hello all!

Is this daily close good enough to take it as a short sign?

What you all think?
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How bad do you want it? That's the attitude!
  • #94,510
  • Apr 27, 2011 5:59pm Apr 27, 2011 5:59pm
Quoting john225
I like the hard close above 135.5 too but i pass on it because the FTA is for me too close. Take a look on the 137.00 RN on the past and the EMA that you have on the chart i don´t know which one it is.

comments and critics welcome ;-)
I wonder if the eurcad daily would be a cleaner break and PA on retracement?
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  • #94,511
  • Apr 27, 2011 6:08pm Apr 27, 2011 6:08pm
Quoting soavesoave
Hello all!

Is this daily close good enough to take it as a short sign?

What you all think?
well trend is obv still bearish.
question is how you wanna enter a swing trade ( obv for swing cause u gonna trade the daily frame) on this candle? couldnt engulf the previous one.... small body.

id like to sell high for swing. PA will arrive at weekly demand lvl zone.

swissy is way safer short in my eyes.
Hero calls followed by margin calls...
  • #94,512
  • Apr 27, 2011 6:09pm Apr 27, 2011 6:09pm
Quoting 5.25
I wonder if the eurcad daily would be a cleaner break and PA on retracement?
this will be a nice BEOB , PBR resistance turned support example. wait for retest and buy.

otheriwse sidelined for me unless you didnt take the break out trade today.

hope all in green.

kindest regards
Jonas
Hero calls followed by margin calls...
  • #94,513
  • Apr 27, 2011 6:31pm Apr 27, 2011 6:31pm
Quoting john225
How do you guys manage a trade which goes in to an area where the price never was ( all time low/high)?
Hey J

Generally speaking that means that you are trading with a trend so I like to be trailing out using current bar highs/lows as well as round numbers.


Best
Mike
  • #94,514
  • Apr 27, 2011 6:37pm Apr 27, 2011 6:37pm
Quoting mbqb11
Hey J

Generally speaking that means that you are trading with a trend so I like to be trailing out using current bar highs/lows as well as round numbers.


Best
Mike
Ok thanks. Are you only trailing if the candle is closed so on the weekly you would wait till the weekly candle is closed and then you would move your stop below that candle. And do you mean RN or BRNs?
  • #94,515
  • Apr 27, 2011 6:39pm Apr 27, 2011 6:39pm
Quoting john225
Ok thanks. Are you only trailing if the candle is closed so on the weekly you would wait till the weekly candle is closed and then you would move your stop below that candle. And do you mean RN or BRNs?
Not necessarily John, it really depends on the situation. A lot of times I trail before a bar closes no matter the timeframe, depends.

I meant round numbers, all round numbers carry some weight to me, some more then others with BRNs almost always being very important.

Best
Mike
  • #94,516
  • Apr 27, 2011 8:57pm Apr 27, 2011 8:57pm
GBP/JPY FTB Looking interesting.
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  • #94,517
  • Apr 27, 2011 10:32pm Apr 27, 2011 10:32pm
I took this AUDSGD trade as a breakout. Currently I am at BE and did not take any thing off from the table.

Target is - 1.3500 - 1.3550. (Resistance area in 2007-Nov-5 based on my chart).

Comments are welcome.
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File Type: pdf 4-27-2011-AUDSGD-Daily-Breakout trade Position-BE.pdf   81 KB | 572 downloads
  • #94,518
  • Apr 27, 2011 11:20pm Apr 27, 2011 11:20pm
Quoting Tap-in
Here's one I'm looking at with BUOB at a swing and support. Feedback welcome
I liked that one too, but the fact that it is trading right into 1.3 made me skip it.

But the GBPJPY instead is trading off its BRN and Support (previous Res 135)
Weekly also looks clear north to me.
I took it on the break of the bar, with SL below 135.
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  • #94,519
  • Apr 27, 2011 11:56pm Apr 27, 2011 11:56pm
i got this wrong tick on a couple of my GCi-mt4 charts.
does anyone got an idea how to solve this problem?
i don't want to download a new metatrader because i will then lose all my trendlines, s/r etc on my charts.
thanks
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meine augen sind die sterne
  • #94,520
  • Apr 28, 2011 12:16am Apr 28, 2011 12:16am
Morning all!

I'm in this trade since yesterday and Im wondering if my SL is OK or should I move it up further? I went long on retrace to 1.4700, took half position at 30 pips and SL to BE..

Comments are welcome.

Ty, M
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