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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

  • #94,861
  • May 4, 2011 1:32pm May 4, 2011 1:32pm
Quoting john225
Ok thanks
So you would say that the BEOB is to small against the uptrend?
Hey J

Here is what I would like to see price do.

Close below those two highs there. I think your trouble area is good. It's not HUGE vs the trend, but not small. It's playable to me on a good close(then use those highs for trade mgmt too - don't forget that part)

Best
Mike
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  • #94,862
  • May 4, 2011 1:34pm May 4, 2011 1:34pm
Quoting mbqb11
(then use those highs for trade mgmt too - don't forget that part)

Best
Mike
What do you mean by managing these highs? To hide my stop behind that area after it broke to the downside?
  • #94,863
  • May 4, 2011 1:42pm May 4, 2011 1:42pm
Quoting john225
What do you mean by managing these highs? To hide my stop behind that area after it broke to the downside?
Hey J

Yes exactly. I like to use these areas to help manage my risk. So I might start with my stop above the beob, but it doesn't have to be all or none. I look to use logical areas like this to help manage the trade as it's under way. That is a good place to help do that

Best
Mike
  • #94,864
  • May 4, 2011 1:45pm May 4, 2011 1:45pm
Quoting mbqb11
Hey J

Yes exactly. I like to use these areas to help manage my risk. So I might start with my stop above the beob, but it doesn't have to be all or none. I look to use logical areas like this to help manage the trade as it's under way. That is a good place to help do that

Best
Mike
Ok thanks got it now. Like always very helpfull ;-)
  • #94,865
  • May 4, 2011 1:52pm May 4, 2011 1:52pm
Quoting john225
Ok thanks got it now. Like always very helpfull ;-)
anytime bud
  • #94,866
  • May 4, 2011 2:45pm May 4, 2011 2:45pm
Nice pin on usdchf. Not particularly big compared to current downtrend but almost like a textbook example . Still have some space to fta.
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  • #94,867
  • May 4, 2011 2:58pm May 4, 2011 2:58pm
hes on daily with large bearish bar on ultra-high volume.
stock is about to touch the lower rectangle for the fourth time. quite steep downmove. would love to see a small-sized bar here, before going up. if ym is positive tomorrow, a long with stop below 76 usd can be considered.
otherwise go short below 76 usd.
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meine augen sind die sterne
  • #94,868
  • May 4, 2011 3:21pm May 4, 2011 3:21pm
Hi aserbfx,

EURUSD D1. Could this be one of your favorite breakouts to watch? Sell-stop somewhere below 1.27? Or is the EUR to stong for such a move. Maybe we have to wait.
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rise and rise again until lambs become lions
  • #94,869
  • May 4, 2011 3:24pm May 4, 2011 3:24pm
s&p approaching support-zone. let's see if it stops here.
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meine augen sind die sterne
  • #94,870
  • May 4, 2011 3:45pm May 4, 2011 3:45pm
Quoting aserbfx
yes, for you, too!
**************

will take a look at dell today. above 16 usd. still 2% till the ppz. maybe a little to much for today. we'll see...
despite the weak stock market , dell had a good day; closing postive. IB has a close of 15.90 usd. this chart shows 15.84 usd and not far away from the breakout-zone. it will need help from the dow to make it through... then it could be real runner...
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meine augen sind die sterne
  • #94,871
  • May 4, 2011 10:57pm May 4, 2011 10:57pm
Quoting Ifmyante
I'm simply saying it wasn't a viable trade until the buy orders above had been triggered.

It's vitally important and very profitable to see where the orders are

Best

If

Hi Ifmyante. Your analysis of GBPJPY BUOB was VERY VERY VERY impressive. I wonder ,if you can expand on that topic. I mean ,what has to be done ,to try to see those orders. It would be most helpful ,I think, to many people if you use a few chart samples.
  • #94,872
  • May 4, 2011 11:06pm May 4, 2011 11:06pm
Quoting aserbfx
despite the weak stock market , dell had a good day; closing postive. IB has a close of 15.90 usd. this chart shows 15.84 usd and not far away from the breakout-zone. it will need help from the dow to make it through... then it could be real runner...
Thank you for all the stock charts and good PA's and breakout trades.

However, do you trade stocks or options ? If you play stocks, does the transcation cost ($5 to $10 per transaction) makes sense unless you trade big volumes ?

Would you mind share some thoughts on this ?
  • #94,873
  • May 5, 2011 12:02am May 5, 2011 12:02am
Quoting cprao
Thank you for all the stock charts and good PA's and breakout trades.

However, do you trade stocks or options ? If you play stocks, does the transcation cost ($5 to $10 per transaction) makes sense unless you trade big volumes ?

Would you mind share some thoughts on this ?
sure...
i only trade stocks.
transaction costs are as low as 0.005 usd/share (minimum 1 usd; for us-stocks). interactive brokers.
meine augen sind die sterne
  • #94,874
  • Edited 2:06am May 5, 2011 12:27am | Edited 2:06am
Quoting aserbfx
s&p approaching support-zone. let's see if it stops here.
I really hope it will. Touch traded this at 1338,50. Moved stop to just under the last low.

EDIT: Closed 50 %

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pat
  • #94,875
  • May 5, 2011 12:41am May 5, 2011 12:41am
this one is still pushing down.
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Many choose unhappiness over uncertainty.
  • #94,876
  • May 5, 2011 1:11am May 5, 2011 1:11am
Interest rate announcements on both of these today...
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Anything can happen.
  • #94,877
  • May 5, 2011 1:12am May 5, 2011 1:12am
Quoting Dan Gilbert
this one is still pushing down.
nice continuation BEOB.
thanks to weak $/strong chf
  • #94,878
  • May 5, 2011 1:16am May 5, 2011 1:16am
aud/jpy with a pb at an interesting location.
rn, s/r zone.
touch trade or break of pb.
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meine augen sind die sterne
  • #94,879
  • May 5, 2011 2:03am May 5, 2011 2:03am
some more bearish pa there would be nice for the aud yen
  • #94,880
  • May 5, 2011 3:09am May 5, 2011 3:09am
some thing im watching today...

eu/au approaching great level. bullish divergence on 1D and 4h..waiting for the market to tip its hand..

jon
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PATIENCE... DISCIPLINE
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