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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

  • #95,141
  • May 10, 2011 2:56pm May 10, 2011 2:56pm
Quoting aserbfx
took this nice breakout today. entry was 44.04 usd, now floating at around 45.05 usd. something about +2.20% in 5 hours. i luv it
i took profit with 2/3 of my position here at 45.29 usd. nearly +3% in one trading session.

everybody dance now...

Inserted Video
meine augen sind die sterne
  • #95,142
  • May 10, 2011 3:05pm May 10, 2011 3:05pm
Quoting aserbfx
i took profit with 2/3 of my position here at 45.29 usd. nearly +3% in one trading session.

everybody dance now...

http://www.youtube.com/watch?v=RbUpz...eature=related
lol, congrats!!!
  • #95,143
  • May 10, 2011 3:41pm May 10, 2011 3:41pm
eur/chf is forming a good-looking setup on the daily. price is in a sideways market and nearly touched the lower support-area. still abou 100 pips left to the fta.
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meine augen sind die sterne
  • #95,144
  • May 10, 2011 5:42pm May 10, 2011 5:42pm
Quoting Kalbar
Mike

Your analysis, as usual, is spot on with this one. Though can see why people would be tempted with this one as:

1 |With the trend
2 Good size bar
3 Long nose

Therefore it does meet some of the J16 requirements. But getting the bigger picture (the story) as mentioned in your post is what trading is all about. Thanks for your continued support and wisdom to all of us trying to make sense of it!!

Kal
You are quite right Kal

4-5 years ago I would have taken that one most likely too. Over the years you learn those little things that just keep you in line so much better. Hey this one could still move higher too who knows

Thanks for the nice words too

Mike
  • #95,145
  • May 10, 2011 5:48pm May 10, 2011 5:48pm
this is a pretty high probab. trade :

audchf on the hourly timeframe.

RSX is in overbought mode.we got a bearish divergence and a strong resistance area.

expect a drop here.


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Hero calls followed by margin calls...
  • #95,146
  • May 10, 2011 5:50pm May 10, 2011 5:50pm
James16 classic.

150 EMA, VBRN, PPZ, BUOB formed...
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Many choose unhappiness over uncertainty.
  • #95,147
  • May 10, 2011 6:05pm May 10, 2011 6:05pm
Quoting Dan Gilbert
James16 classic.

150 EMA, VBRN, PPZ, BUOB formed...
Yes.
"Don't trade to trade . . . trade to win." - James16
  • #95,148
  • May 10, 2011 6:41pm May 10, 2011 6:41pm
Quoting Dan Gilbert
James16 classic.

150 EMA, VBRN, PPZ, BUOB formed...
Just a thought on this one: is the previous big down move not a concern here?
  • #95,149
  • May 10, 2011 6:53pm May 10, 2011 6:53pm
Quoting Kalbar
Just a thought on this one: is the previous big down move not a concern here?
It's a mild concern. I'm not as concerned because price has already broken through that low from 4-18-11...

If price refused to break that, we would have some issues.

Also, look at Monday's (yesterdays) high, the high is bouncing almost to the pip off of the low from 4-18, then today, when price got to that level again, it broke it....

Don't get me wrong, I will manage tightly, I see some trouble around last Friday's high @117.50, and will have my stop at B/E should price get there.
Many choose unhappiness over uncertainty.
  • #95,150
  • May 10, 2011 7:34pm May 10, 2011 7:34pm
Quoting Dan Gilbert
It's a mild concern. I'm not as concerned because price has already broken through that low from 4-18-11...

If price refused to break that, we would have some issues.

Also, look at Monday's (yesterdays) high, the high is bouncing almost to the pip off of the low from 4-18, then today, when price got to that level again, it broke it....

Don't get me wrong, I will manage tightly, I see some trouble around last Friday's high @117.50, and will have my stop at B/E should price get there.

I'm in agreement here....the pros (150 ema, test and rejection of BRN, monthly top of consolidation, strong ppz, very strong close, hidden bullish divergence) far outweigh the cons (sharp down move, swing low to left). We also have 50 retracement, and a monthly Highest Close of Resistance around 115 as added confluence.

I'm currently demoing retracement entries of outside bars on retracement so here's my current order, with full TP at the 117.5 area you mention. Wouldn't be surprised if this one didn't retrace as much though.
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  • #95,151
  • May 10, 2011 7:40pm May 10, 2011 7:40pm
Quoting Dan Gilbert
James16 classic.

150 EMA, VBRN, PPZ, BUOB formed...

Indeed, I posted about this setup, a couple of days ago.

The boxing is what got my attention.
http://www.forexfactory.com/showpost...ostcount=95098
  • #95,152
  • May 10, 2011 8:05pm May 10, 2011 8:05pm
Quoting Dan Gilbert
James16 classic.

150 EMA, VBRN, PPZ, BUOB formed...
Saw this too. But I was waiting for a close above the 365EMA/lower wick from a big red candle a few candles back which didn't exactly happen but still a nice set-up with potential. I have a buy stop a few pips above the 365EMA.
  • #95,153
  • May 10, 2011 9:54pm May 10, 2011 9:54pm
Quoting Donkey
I'm in agreement here....the pros (150 ema, test and rejection of BRN, monthly top of consolidation, strong ppz, very strong close, hidden bullish divergence) far outweigh the cons (sharp down move, swing low to left). We also have 50 retracement, and a monthly Highest Close of Resistance around 115 as added confluence.

I'm currently demoing retracement entries of outside bars on retracement so here's my current order, with full TP at the 117.5 area you mention. Wouldn't be surprised if this one didn't retrace as much though.
I'm in agreement too..
BUOB CA 116.46 --->strong confluence!!(along with other confluences as well as discussed)
my TP is same at 117.50...don't wanna go beyond that!!
Good Trading!!
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  • #95,154
  • May 11, 2011 1:17am May 11, 2011 1:17am
Can someone explain to me why my 365EMA is different from you guys? It also doesn't match my other charting software which has 365EMA plotted the same way as the other charts posted here.

http://www.hotstockmarket.com/image/...t/500/flags/LL
  • #95,155
  • May 11, 2011 1:23am May 11, 2011 1:23am
biDc,

Every broker has a different bar close time, that means also a different EMA.

Quoting biDc
Can someone explain to me why my 365EMA is different from you guys? It also doesn't match my other charting software which has 365EMA plotted the same way as the other charts posted here.
  • #95,156
  • May 11, 2011 1:40am May 11, 2011 1:40am
Aser posted this one for some time ago. Getting closer to break that nice level.

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pat
  • #95,157
  • May 11, 2011 1:52am May 11, 2011 1:52am
that and what has the most effect is the amount of historical data being calculated.

if you have a charting platform like tradestation you can see this firsthand by simply loading different amounts of historical price data. the main thing is to use those ema,s with other areas of confluence like large round numbers. as many as possible preferably.

jim

Quoting Thierry
biDc,

Every broker has a different bar close time, that means also a different EMA.
  • #95,158
  • May 11, 2011 2:45am May 11, 2011 2:45am
Quoting aserbfx
german puma with a close above the box. will very likely go higher. 250 euro could be a good target.
went long here with a small position at 225.70 eur. touch of the upper support-zone (box).
meine augen sind die sterne
  • #95,159
  • May 11, 2011 3:09am May 11, 2011 3:09am
i noticed that BRNs are highlighted automatically on some of your charts, is this an indicator and can it be shared? thanks
  • #95,160
  • May 11, 2011 3:30am May 11, 2011 3:30am
Quoting yomex_y2
i noticed that BRNs are highlighted automatically on some of your charts, is this an indicator and can it be shared? thanks
Hi,
here you go. It's for MT4.
Jarda
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Attached File(s)
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