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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

  • #95,601
  • May 24, 2011 9:09am May 24, 2011 9:09am
Quoting Kalbar
Hey Mike

Just a quick question on your breakout trading - do you always enter off the break of a PA bar or do you enter at a level (eg the pullback to the pattern)?

Thanks,

kal
Hey Kal

The majority are always going to be price bar confirmations(preemptive as above or pullback). But I will consider touch trading a pattern depending on the look(after the breakout).

Best
Mike
  • #95,602
  • May 24, 2011 9:39am May 24, 2011 9:39am
Hi, would anyone have looked at this pair with a view to entering long.

On the weekly, BUOB, off BRN (90), 365 ema, 23.6 fib retrace?

Negative's at a swing high so possibly not much room to move up before FTA (94).

Many thanks

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Free speech is an oxymoron
  • #95,603
  • May 24, 2011 10:40am May 24, 2011 10:40am
Quoting Banzaisky
Hi, would anyone have looked at this pair with a view to entering long.

On the weekly, BUOB, off BRN (90), 365 ema, 23.6 fib retrace?

Negative's at a swing high so possibly not much room to move up before FTA (94).

Many thanks

Attachment
Hey Banz

I think you really said it best since price is at a swing high here you are trading right into the former highs. Not that you can't be one has to be aware of this as this is essentially trading right into that traffic. Without further confluence and support for me trading right into those previous highs becomes more tricky(or need for a tighter mgmt)

Best
Mike
  • #95,604
  • May 24, 2011 10:57am May 24, 2011 10:57am
Thanks for your comments Mike. As i suspected. Will leave alone!
Free speech is an oxymoron
  • #95,605
  • May 24, 2011 11:24am May 24, 2011 11:24am
Hi guys

Anyone notice this BUOB at swing low on cable 4h chart? Strong close and good for 50-60 pips. Did not take it but wondering how people would have graded this in terms of quality of the setup, eg A, B class etc. Any thoughts or comments welcomed thanks,

KAL
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  • #95,606
  • Edited 12:33pm May 24, 2011 12:16pm | Edited 12:33pm
Quoting Kalbar
Hi guys

Anyone notice this BUOB at swing low on cable 4h chart? Strong close and good for 50-60 pips. Did not take it but wondering how people would have graded this in terms of quality of the setup, eg A, B class etc. Any thoughts or comments welcomed thanks,

KAL
Hey Kal,

That BUOB sure is at a swing low and that's exactly where we want to see them. But don't forget the story part. A swing low alone can be a pretty risky odd to to bank on if you don't have a really big bar and the story doesn't go with it because essentially you are taking the increased risk of going counter trend.

Notice the breakout of the bearish head and shoulders pattern. Notice also that we broke out of a consolidation box before price displayed the BUOB and notice a trade runs straight into the mess of bars hence lacking space. Not to mention the poor shape. I mean really its just a BUOB by definition than anything else.

In hindsight it worked yes but we know that's totally irrelevant. That was a nice pass Kal

g.
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I believe . . .
  • #95,607
  • May 24, 2011 3:11pm May 24, 2011 3:11pm
Quoting ghous
Hey Kal,

That BUOB sure is at a swing low and that's exactly where we want to see them. But don't forget the story part. A swing low alone can be a pretty risky odd to to bank on if you don't have a really big bar and the story doesn't go with it because essentially you are taking the increased risk of going counter trend.

Notice the breakout of the bearish head and shoulders pattern. Notice also that we broke out of a consolidation box before price displayed the BUOB and notice a trade runs straight into the mess of bars hence lacking space....
Hello Ghous Baba.. just kidding..
i was just wondering if u took this EURCHF PB..
the confluence was real strong..1.24 n divergence..
only flaw was "ok-ok" PB...not the beauty..
well i didn't go for this,i was jus watching it..
i was 'imagining' takin Entry at ret that is,1.24(n not at break so dat TM would be easier) n taking half profits at the FTA(in yellow) n moving SL to BE..
n yeah,it was fighting the huge Downtrend..so i js thought if u had a thumbsup for it or no as 'big guy' takes such counter-trend setups..
i analysed that the setup was in 'totality'..that is Triple Bottom,divergence so price had no chance to break 1.24 until it reaches the FTA...

P.S. do correct me if my divergence is wrong as im using it for 1st time..lol..
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  • #95,608
  • May 24, 2011 4:38pm May 24, 2011 4:38pm
Quoting ghous
Hey Kal,

That BUOB sure is at a swing low and that's exactly where we want to see them. But don't forget the story part. A swing low alone can be a pretty risky odd to to bank on if you don't have a really big bar and the story doesn't go with it because essentially you are taking the increased risk of going counter trend.

Notice the breakout of the bearish head and shoulders pattern. Notice also that we broke out of a consolidation box before price displayed the BUOB and notice a trade runs straight into the mess of bars hence lacking space....
Ghous

Thanks for your critique of this PA setup - an excellent analysis. I must admit although i didn't take it my grasp of 'the story' was not as good as yours so thanks for the heads up. Great to receive your insight on this one and also learn a little bit more. The fact that it worked out is, as you say, an irrelevance.

Kal
  • #95,609
  • May 24, 2011 4:49pm May 24, 2011 4:49pm
Potential area to capture the down trend?
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  • #95,610
  • May 24, 2011 6:24pm May 24, 2011 6:24pm
Hi all

Just done my scan of all my daily charts and not found any high grade setups. feel free to enlighten me if i missed anything. Land of nod beckons(1230am here in UK) so wish you all a good night wherever you are! happy trading!

Kal
  • #95,611
  • May 24, 2011 7:18pm May 24, 2011 7:18pm
This set up has my eye.

U/Cd:
150EMA
Down Channel Top
Inside bar

http://img163.imageshack.us/img163/9151/ucd.gif
  • #95,612
  • May 24, 2011 9:24pm May 24, 2011 9:24pm
1.8000 on EURNZD is an area to watch in my opinion. Pull back and pin bar please.
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  • #95,613
  • May 24, 2011 9:36pm May 24, 2011 9:36pm
Quoting AvanishDemo
Hello Ghous Baba.. just kidding..
i was just wondering if u took this EURCHF PB..
the confluence was real strong..1.24 n divergence..
only flaw was "ok-ok" PB...not the beauty..
well i didn't go for this,i was jus watching it..
i was 'imagining' takin Entry at ret that is,1.24(n not at break so dat TM would be easier) n taking half profits at the FTA(in yellow) n moving SL to BE..
n yeah,it was fighting the huge Downtrend..so i js thought if u had a thumbsup for it or no as 'big guy' takes such counter-trend setups..
i analysed that the setup...
Not bad A,

The close above 1.24 had to be the key. I loved the fact that you understood that the pin bar was not one of those that you can take for granted. It was a small bar fighting a big trend. The Big guy cares less about going counter trend but that is because he doesn't hold his counter trend pin bars to until they reverse 2000 pip trends.

While totally tradable a conservative trade management criteria was essential and it seems you (imaginably) employed it.

If I were in this I wouldn't even bank on a break of the FTA you marked by leaving some still in the trade to see if it could push through. I would have taken full profit at the FTA.

You're learning fast man. Keep it up

g.
I believe . . .
  • #95,614
  • May 24, 2011 9:41pm May 24, 2011 9:41pm
Quoting Donkey
1.8000 on EURNZD is an area to watch in my opinion. Pull back and pin bar please.
lol I love how you said please

We'll be able to throw a TL in and some fibs maybe ? will have to wait a bit for price to move to fit that
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  • #95,615
  • May 24, 2011 11:25pm May 24, 2011 11:25pm
Quoting aserbfx
hey guys
i have the "pleasure" to spend the next 9 days in hospital.
still some operations do to after my accident last autumn.
therefore no charts from me so long.
wish you all good trades!
rock on!

I've been away from this Thread to long . .


I hope and pray things are going well for you .my friend . .aserb . .

Get well soon . . sir


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #95,616
  • May 25, 2011 1:25am May 25, 2011 1:25am
I took / Am in this. I liked the pin closing under the daily ppz. (Blue zone) The Big Friday candle too. FTA / Exit is Monday's low or 150 MA I am BE Stop too.
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  • #95,617
  • May 25, 2011 2:44am May 25, 2011 2:44am
6th winner in a row!
simple classic setup I think
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  • #95,618
  • May 25, 2011 3:41am May 25, 2011 3:41am
BUOB on eur jpy @ 1h tf, PA + FTA = Gold? i think so. TP is already hit.

Off course, with this (great) method we have most of the time not a 1:1 RR, but is that really important when we have a hitrate of, lets say 90%?

I don't think so.
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  • #95,619
  • May 25, 2011 4:33am May 25, 2011 4:33am
J16 daily classic breakout matching lows
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  • #95,620
  • May 25, 2011 4:36am May 25, 2011 4:36am
Quoting Valinn
This set up has my eye.

U/Cd:
150EMA
Down Channel Top
Inside bar

http://img163.imageshack.us/img163/9151/ucd.gif
Hi! May I know what kind of indicator in the upper right corner?
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