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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

  • #94,661
  • May 2, 2011 1:49am May 2, 2011 1:49am
Quoting Tap-in
I am looking at this trade on EUR/GBP short on a BEOB at a swing high. Orders are in. If the order doesn't trigger on the current bar I may cancel. Profit targets will remain fluid. Will likely use trailing stops to exit.
Hi Tapin,

You really need to be careful with that one. Not much space, in the given context the bar itself is not that sizable. Expect choppiness and may take a while to reach your target.

Pros: Coming off Weekly HCR (very strong resistance), divergance

Other things we look for include: BRN, trading straight into traffic, bar size, no room to FTA etc.

These are just my thoughts......and it may still workout but not much confluence
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  • #94,662
  • May 2, 2011 2:01am May 2, 2011 2:01am
CBA on the ASX (australian stock xchange)

very juicy resistance area. Breakout and retrace is a no brainier.
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  • #94,663
  • May 2, 2011 2:07am May 2, 2011 2:07am
Quoting vasmiza
Santo Limited (STO) on ASX

First time back
great contributions!
is this a daily or weekly chart?
there is ppz right above the high of the previous candle.
meine augen sind die sterne
  • #94,664
  • May 2, 2011 2:22am May 2, 2011 2:22am
Quoting aserbfx
great contributions!
is this a daily or weekly chart?
there is ppz right above the high of the previous candle.
sorry about the ambiguity. I've updated the chart, all on daily. Weekly is also looking good. FTA would be a little lower than 15.5
  • #94,665
  • May 2, 2011 2:35am May 2, 2011 2:35am
Quoting vasmiza
CBA on the ASX (australian stock xchange)

very juicy resistance area. Breakout and retrace is a no brainier.
Nice! Thanks for posting.

pat
  • #94,666
  • May 2, 2011 2:38am May 2, 2011 2:38am
Heres my last two trades.
eu/chf small 1h pinbar nice location with divergence

and a small BUOB great level, RN and divergence.

jon
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PATIENCE... DISCIPLINE
  • #94,667
  • May 2, 2011 2:45am May 2, 2011 2:45am
Nice level to watch.

Attached Image


pat
  • #94,668
  • May 2, 2011 2:53am May 2, 2011 2:53am
wow...all these stock charts are making me very interested in checking out stocks!!
nice charts

jon
PATIENCE... DISCIPLINE
  • #94,669
  • May 2, 2011 3:16am May 2, 2011 3:16am
mbqb11, thanks a lot for the reply.

With regard to AUD/CAD D1, could you please tell me why you see the first trouble area where you mentioned.
I had thought that it was a couple of previous bars further down at about 1.0195.

Thanks for pointing out I should be looking for BEOB's at the swing high and not a swing low.
So I should be looking at a BEOB as a reversal rather than a continuation.

EUR/JPY W1, I notice my Oanda demo account charts where I am practising this are different to my SLM live account charts, on the SLM chart the open of the pinbar is inside the previous bar where the open and close of the pinbar are inside the previous bar. Not sure why there is a difference.

But I understand your point about the pinbar being at a swing high rather than a swing low.
So none of my 3 offerings were valid set ups Good start!

I did learn why though, so hopefully my next efforts will be an improvement.
I'll carry on reading and learning.
  • #94,670
  • May 2, 2011 3:33am May 2, 2011 3:33am
Quoting normtold
mbqb11, thanks a lot for the reply.


EUR/JPY W1, I notice my Oanda demo account charts where I am practising this are different to my SLM live account charts, on the SLM chart the open of the pinbar is inside the previous bar where the open and close of the pinbar are inside the previous bar. Not sure why there is a difference.
Oanda just have different closing times for there bars as the other broker. This is a common question and it simply that brokers have different closing times for the daily bars giving different shaped bars.

hope this helps. welcome to the thread

jon
PATIENCE... DISCIPLINE
  • #94,671
  • May 2, 2011 3:49am May 2, 2011 3:49am
Quoting normtold
mbqb11, thanks a lot for the reply.

With regard to AUD/CAD D1, could you please tell me why you see the first trouble area where you mentioned.
I had thought that it was a couple of previous bars further down at about 1.0195.
This are my thougths about this setup:
This is poodle pb without any confluence in strong uptrend. Expecting it to hit the 1.02 area is a recipe for disaster. In this kind of market even weak support might be strong buying oportunity hence thats why i believe Mike's FTA was close to the PB break.
  • #94,672
  • May 2, 2011 5:05am May 2, 2011 5:05am
Hello James16 followers,

today is a off day from work so I have time to watch price action for some hours. I'm started to read this thread because I searched for an approach to learn to trade Forex within my fulltime job.

I learned a lot from you all here up to now as a silent reader and would say thanks to all the posters here. Looks like a enjoyable community.

What I tried this moring: Imagined some weird freak (maybe we call him "Mr. Greed") throws me on the lower timeframes in the market (M30 EURUSD).

Now I have to do something to survive (maybe just run away..) or start to think:

- try to find something in respect of PA, SR within the last 120 bars
- today are some Bank Holidays ( so a London open breakout is unlikely)
- find stop -> stop 11 pips on the open bar at 5:30.
- aim for short term profit

See attached the two screenshots entry and TP.

Does this setup make sence within the J16 rules or is it more "tried it and worked" (something like C grade)?

Right now I don't have the confidence to trade such a train of thought intraday with my real account
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rise and rise again until lambs become lions
  • #94,673
  • May 2, 2011 6:33am May 2, 2011 6:33am
Quoting g_j_hook@yah
Heres my last two trades.
eu/chf small 1h pinbar nice location with divergence

and a small BUOB great level, RN and divergence.

jon

Very nice Jon
  • #94,674
  • May 2, 2011 6:48am May 2, 2011 6:48am
Quoting Atc
Very nice Jon
cheers, the reason i liked those trades is that i was diciplined enough to get in and out without messing around...believe me i dont always!!

jon
PATIENCE... DISCIPLINE
  • #94,675
  • May 2, 2011 7:04am May 2, 2011 7:04am
ok i gotta ask everyone, does everyone believe the bin laden news??? just wondering

jon
PATIENCE... DISCIPLINE
  • #94,676
  • May 2, 2011 7:19am May 2, 2011 7:19am
Quoting g_j_hook@yah
ok i gotta ask everyone, does everyone believe the bin laden news??? just wondering

jon
"Buried at see eh?"
  • #94,677
  • May 2, 2011 7:28am May 2, 2011 7:28am
Quoting g_j_hook@yah
ok i gotta ask everyone, does everyone believe the bin laden news??? just wondering

jon
I wonder what will be al-Qaeda response.
  • #94,678
  • May 2, 2011 7:33am May 2, 2011 7:33am
Quoting Pumlitch
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.
Attachment
Regards
Jarda
Hi all
Nice retest but I was too shy to enter on friday evening or monday morning.
Jarda
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Follow my trading on Twitter and FB: @pumlitch
  • #94,679
  • May 2, 2011 7:48am May 2, 2011 7:48am
Quoting vasmiza
Hi Tapin,

You really need to be careful with that one. Not much space, in the given context the bar itself is not that sizable. Expect choppiness and may take a while to reach your target.

Pros: Coming off Weekly HCR (very strong resistance), divergance

Other things we look for include: BRN, trading straight into traffic, bar size, no room to FTA etc.

These are just my thoughts......and it may still workout but not much confluence
Vaz, thanks for your feedback. It is looking like the trade wont trigger today anyway.

The concept of "space" is still a bit confusing to me. When people refer to space are they generally talking about distance to the FTA?

thanks again
  • #94,680
  • May 2, 2011 8:11am May 2, 2011 8:11am
Quoting 5.25
"Buried at see eh?"
Not sure if its just me, but Osama wasn't a carp out of water while someone was looking for trout was he?

The world's most wanted terrorist should have been brought into the lime light alive or at least a glimpse of the dead body was well deserved.

The silent disposal of the body raises suspicion.

g.
I believe . . .
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