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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

  • #95,941
  • Jun 2, 2011 3:08pm Jun 2, 2011 3:08pm
Quoting casey054
thanks Jon
That was along my thinking too, By the way, I am on page 208. As we can see this is a VEEERY long thread. Hope to come out the other side as feeling qualified to offer my 2 cents worth
Casey
All 2 cents are welcome...at least in my pocket
knowing Mike his will be 2 dollers by next friday!! lol

jon
PATIENCE... DISCIPLINE
  • #95,942
  • Jun 2, 2011 3:24pm Jun 2, 2011 3:24pm
if it close below green line...any comments?
thx
Attached Image (click to enlarge)
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  • #95,943
  • Jun 2, 2011 3:42pm Jun 2, 2011 3:42pm
Quoting pex
if it close below green line...any comments?
thx
Hey Pex

I would be cautious, this one is in a lot of traffic and coming back into a strong bull bar. This is just sort of the theme of a lot of pairs of chop chop. Anything like this needs to babysit and quick to b/e as James says. They can be very tough to manage.

Best
Mike
  • #95,944
  • Jun 2, 2011 3:48pm Jun 2, 2011 3:48pm
Quoting mbqb11
Hey Pex

I would be cautious, this one is in a lot of traffic and coming back into a strong bull bar. This is just sort of the theme of a lot of pairs of chop chop. Anything like this needs to babysit and quick to b/e as James says. They can be very tough to manage.

Best
Mike
thx mike
i saw that there isn`t enough "space"...but wanted to hear opinion of others
thx again
  • #95,945
  • Jun 2, 2011 5:12pm Jun 2, 2011 5:12pm
Inside bar on usdchf daily. A pause before another move down?
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  • #95,946
  • Jun 2, 2011 5:31pm Jun 2, 2011 5:31pm
Quoting pex
if it close below green line...any comments?
thx
In my book that red line is a monthly ppz R turned S now I would rather be waiting to buy if on touching either of A or B (more preferably A) it gives me a supporting PA on the lower TFs (H1 or H4)...kind of First Time Back TT kind of. Mike what do you think of that?
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  • #95,947
  • Jun 2, 2011 6:33pm Jun 2, 2011 6:33pm
Quoting mbqb11
i prefer the artist formerly known as fudd

thank you
Mike; We all know you are {a} Prince.
Excellent job my friend.

btw. Welcome Casey & as "the artist formerly known as fudd" is likely to say...

'There are no silly questions.'
Ask away

B
  • #95,948
  • Jun 2, 2011 6:35pm Jun 2, 2011 6:35pm
Is it good to enter a long position when this TBH (1 pip difference) breaks?
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  • #95,949
  • Jun 2, 2011 6:43pm Jun 2, 2011 6:43pm
Quoting pex
if it close below green line...any comments?
thx
I agree with mike but perhaps for some different reasons.

Large Body Candles have an inherent S/R line located at 50% of the Body.
That suggests a Poss. Hesitation @ ~ 0.9726 & that's in Traffic with decisions to make.

My general "Feel" is Short Term Long but still waiting for confirmation.

{I do a lot of that Waiting $#it but STILL not enough.}

B
  • #95,950
  • Jun 2, 2011 7:25pm Jun 2, 2011 7:25pm
Quoting TransPorter
Is it good to enter a long position when this TBH (1 pip difference) breaks?
hey TP

yep you can use tbh in that way. I like them when you get a bunch of multi bar highs in a row. Go back through when you see 4+ in a row or at a level to the pip (or close). There was a recent one on nzd/jpy I took see if you can spot it. Although I took a breakeven on it

Best
Mike
  • #95,951
  • Jun 2, 2011 7:26pm Jun 2, 2011 7:26pm
Quoting Bemac

{I do a lot of that Waiting $#it but STILL not enough.}

B
you and me both buddy. Hopefully as the account keeps getting bigger I keep getting pickier

Mike
  • #95,952
  • Jun 2, 2011 7:45pm Jun 2, 2011 7:45pm
Quoting mbqb11
hey TP

yep you can use tbh in that way. I like them when you get a bunch of multi bar highs in a row. Go back through when you see 4+ in a row or at a level to the pip (or close). There was a recent one on nzd/jpy I took see if you can spot it. Although I took a breakeven on it

Best
Mike
I spot it on daily Mike! Thank you!
  • #95,953
  • Jun 2, 2011 9:16pm Jun 2, 2011 9:16pm
Quoting TransPorter
I spot it on daily Mike! Thank you!
  • #95,954
  • Jun 2, 2011 10:43pm Jun 2, 2011 10:43pm
I had a great trade from this. As mike said the more bars the better though.

What helped this one out in my opinion was that it was a 3 bar high AND at the very important 1.45 level.


Quoting TransPorter
Is it good to enter a long position when this TBH (1 pip difference) breaks?
  • #95,955
  • Jun 3, 2011 12:31am Jun 3, 2011 12:31am
Quoting dmc
I had a great trade from this. As mike said the more bars the better though.

What helped this one out in my opinion was that it was a 3 bar high AND at the very important 1.45 level.
Good to know you had a great trade from that setup. Where do we usually put our SL with this kind of setup?
  • #95,956
  • Jun 3, 2011 2:38am Jun 3, 2011 2:38am
Quoting TransPorter
Good to know you had a great trade from that setup. Where do we usually put our SL with this kind of setup?
usually on the other side, just like in PB's , BEOBs etc
  • #95,957
  • Jun 3, 2011 2:42am Jun 3, 2011 2:42am
Hi masters, after long time reading, it's time for me to get hands on. please see the chart for spot gold.

I am looking at inside bars forming after huge BEOB, short when yellow area break through. does it sound good?
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seeing through
  • #95,958
  • Jun 3, 2011 2:47am Jun 3, 2011 2:47am
Quoting supremeChaos
usually on the other side, just like in PB's , BEOBs etc
Thank you Sir SC! What's for merienda?! LOL
  • #95,959
  • Edited 3:12am Jun 3, 2011 3:02am | Edited 3:12am
Quoting TransPorter
Thank you Sir SC! What's for merienda?! LOL
no merienda (afternoon snack), Sir

ah, i do.... charts

Quoting pipphunter
Hi masters, after long time reading, it's time for me to get hands on. please see the chart for spot gold.
I am looking at inside bars forming after huge BEOB,...
hello pipphunter,
glad to see u posting.

http://theworldstore.files.wordpress...ian_dolls1.jpg

are u familiar with Russian Matryoshka dolls? where the smaller dolls get stacked inside another?
that's how we want the IB's to look like, as opposed to the ones on the chart which are randomly situated within the confines of a big (mother) candle.

also, that huge candle is not a BEOB. since it's not engulfing any prior candles
having said that, with regards to your entry, that is 1 way of doing it.
if that trade gets triggered, possible trouble areas are 1515, 1500 areas.
  • #95,960
  • Jun 3, 2011 3:22am Jun 3, 2011 3:22am
Quoting supremeChaos
no merienda (afternoon snack), Sir

ah, i do.... charts


hello pipphunter,
glad to see u posting.



are u familiar with Russian Matryoshka dolls? where the smaller dolls get stacked inside another?
that's how we want the IB's to look like, as opposed to the ones on the chart which are randomly situated within the confines of a big (mother) candle.

also, that huge candle is...

Thanks SC, for your advise and correcting me. I will study more in regrd to the IBs. from your experience, would your think this will be good trade if it get triggered. do you personally will take trader like this, or wait better oppotunity to come.
appreicate your quick respond.
seeing through
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