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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

  • #95,201
  • May 11, 2011 7:10pm May 11, 2011 7:10pm
Quoting mbqb11
I took a half bar loss on this one myself. Love the 115 still do, and we may even have an opportunity to short it too

Best
Mike

Even with all that confluence, I didn't like the size of the bearish bars previous to the BUEOB. So, I decided to take it only on demo.

Took a full bar loss.

EDIT" I was also wondering why nobody mentioned the size of the bearish bars, perhaps because the confluence factors will outweigh this point.

Maybe mike has an answer to this?
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  • #95,202
  • May 11, 2011 8:10pm May 11, 2011 8:10pm
Hi all,

I demoed for 3 months mainly for convergence & breakouts. I did demo trade several boxings successfully. But now in my early live trading I'm painfully losing trades.

Can some one direct me to a good thread on how to trade boxings? Also my broker doesn't allow OCO orders, this may or may not be important.

Thanks!
  • #95,203
  • May 11, 2011 8:16pm May 11, 2011 8:16pm
Quoting Pinbar
Even with all that confluence, I didn't like the size of the bearish bars previous to the BUEOB. So, I decided to take it only on demo.

Took a full bar loss.

EDIT" I was also wondering why nobody mentioned the size of the bearish bars, perhaps because the confluence factors will outweigh this point.

Maybe mike has an answer to this?
Hey Pin

Yep the confluence at 115 far outweighed anything else for me. Good strong BUOB there. 115 was a make or break at that time so the odds were good for a move up .

Best
Mike
  • #95,204
  • May 11, 2011 8:17pm May 11, 2011 8:17pm
Quoting soavesoave
Hello fellow pipers

Any thoughts on this close today??

PB not at a swing high, but it shows some pretty clear price rejection...

Soave
Hey S

PP is correct

Remember James teaches us to find these pinbars at swing high points. This is a pinbar at a swing low, making it tricky

Best
Mike
  • #95,205
  • May 11, 2011 9:28pm May 11, 2011 9:28pm
chart
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  • #95,206
  • May 11, 2011 10:01pm May 11, 2011 10:01pm
Quote
Soave,
I am not a pro but I remember that Mike trades those pinbars that are not in consolidation. In this case there is no room for your trade to run, you basically sell into PPZ right away.
It is better to play breakout I think...or leave it.
PP




It makes sense... maybe a break out should be better.


Quote
Hey S

PP is correct

Remember James teaches us to find these pinbars at swing high points. This is a pinbar at a swing low, making it tricky

Best
Mike


Yeah.. I also thought about that Mike, thanks.

That train is leaving without me i guess.
How bad do you want it? That's the attitude!
  • #95,207
  • May 11, 2011 10:54pm May 11, 2011 10:54pm
Quoting mbqb11
chart

Awesome, I don't even look at those types of pairs anymore.


I'm assuming you're out at 1.55?

love you Mike.
Many choose unhappiness over uncertainty.
  • #95,208
  • May 11, 2011 11:24pm May 11, 2011 11:24pm
critics are welcome.

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  • #95,209
  • May 11, 2011 11:29pm May 11, 2011 11:29pm
Quoting 5.25
"We can expect struggling at these purple and red zones... I hope you are not colour blind"

Great analysis here Zol both on the chart and on the humour level.
thx

ur encouragement is helpful. wish similar to u.
Kind Regards zol
  • #95,210
  • May 11, 2011 11:32pm May 11, 2011 11:32pm
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  • #95,211
  • May 11, 2011 11:36pm May 11, 2011 11:36pm
Quoting zoli
thx

ur encouragement is helpful. wish similar to u.
Me too, i like your charts man.
  • #95,212
  • May 11, 2011 11:41pm May 11, 2011 11:41pm
Quoting minos.niu
Hi all,

I demoed for 3 months mainly for convergence & breakouts. I did demo trade several boxings successfully. But now in my early live trading I'm painfully losing trades.

Can some one direct me to a good thread on how to trade boxings? Also my broker doesn't allow OCO orders, this may or may not be important.

Thanks!
please post the charts here, so we can discuss them.
no need for a second thread. keep studying this here.
meine augen sind die sterne
  • #95,213
  • May 11, 2011 11:51pm May 11, 2011 11:51pm
Hi Mike, what did the two orange "divergence" dotted lines mean?

Quoting mbqb11
chart
  • #95,214
  • May 12, 2011 1:44am May 12, 2011 1:44am
Quoting minos.niu
Hi Mike, what did the two orange "divergence" dotted lines mean?
hello minos niu,
it's showing bullish divergence: price made a lower low but the indicator (MACD in this chart) made a higher low

http://www.babypips.com/school/divergence-trading.html
  • #95,215
  • May 12, 2011 1:55am May 12, 2011 1:55am
Quoting mbqb11
chart
Happy to say I'm in this too. Same entry and Stop Loss. Take profit is just under 1.5500 only it never got triggered.

And now for the trade management side of things...

Tomek
  • #95,216
  • Edited 2:12am May 12, 2011 1:57am | Edited 2:12am
Quoting mbqb11
Hey Pin

Yep the confluence at 115 far outweighed anything else for me. Good strong BUOB there. 115 was a make or break at that time so the odds were good for a move up .

Best
Mike

Thanks Mike.

I figured we can throw previous bearish bar size out the window with such confluence, although somehow I didn't like it.
Maybe if we had had divergence, I would have taken it live.
I also understand it was just one that failed and that this can happen and is not a reflection of the methodology.
  • #95,217
  • May 12, 2011 2:12am May 12, 2011 2:12am
I love waking up to a winning trade in the morning
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  • #95,218
  • May 12, 2011 2:29am May 12, 2011 2:29am
Quoting 5.25
I love waking up to a winning trade in the morning
nice

jon
PATIENCE... DISCIPLINE
  • #95,219
  • May 12, 2011 2:34am May 12, 2011 2:34am
Quoting g_j_hook@yah
gold...?????

would be nice eh!??

we got a close below that big 1500 level. lets see what the day brings...?


jon
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PATIENCE... DISCIPLINE
  • #95,220
  • May 12, 2011 2:36am May 12, 2011 2:36am
Quoting g_j_hook@yah
hey zoli, beat me to it! i like the aussie setup also...but in light of its recent break north i tyhink its a quick in and out at the FTA for me...

jon
FTA reached....

jon
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PATIENCE... DISCIPLINE
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