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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

  • #97,161
  • Edited 7:47am Jun 23, 2011 7:24am | Edited 7:47am
Quoting huskyboy
PS at the time i entered there was a BEOB on the m15 as well, just noticed that. Something to remenber perhaps.
Quoting supremeChaos
huge BEOB... a possible high momentum setup.
watch those lows (1.6070 - 1.6120 area), they can stall price. this area can be your FTA.
let's see
nice trade. that one did well for u!

Quoting huskyboy
its a tight stop, always do.
Why i entered is because off the BEOB of course, the shape of it and the location where it left (weekly, daily pivot), we were beyond the monthly S1 @ 1.6032, at 50 fib level and a RN; there is also the brake of the LTL,...
are u comfortable using tight stops?
what is your basis for that specific tight stop (1.6070 area?) ?

often, u get a (significant) retracement before a move. but in this case, it was a really good setup that your tight stop was left unscathed.
just something to keep in mind
  • #97,162
  • Jun 23, 2011 7:42am Jun 23, 2011 7:42am
Quoting supremeChaos
nice trade. that one did well for u!


are u comfortable using tight stops?
what is your basis for that specific tight stop (1.6170 area?) ?

often, u get a (significant) retracement before a move. but in this case, it was a really good setup that your tight stop was left unscathed.
just something to keep in mind

Monthly S1 @ 1.6088, placed SL just above it @ 1.6090
  • #97,163
  • Jun 23, 2011 7:55am Jun 23, 2011 7:55am
I'm long.
  • #97,164
  • Jun 23, 2011 7:57am Jun 23, 2011 7:57am
Quoting Knight Rider
AUD/USD - short.
Interested why you think short rather than a bounce off support at 1.45 area.
  • #97,165
  • Jun 23, 2011 7:59am Jun 23, 2011 7:59am
As per James 16's earlier post of his favourite trade set up, http://www.forexfactory.com/showthre...93#post4717893 I have an Outside Bar indicator that will help identify them.

It needs the MT4 code tweaking to only show the last 30 or so, currently its showing zillions of them from way back in history which are irrelevant.

Any MT4 programmers here that can tweak it ? Once tested I'll release it to the room for those that are interested.
  • #97,166
  • Jun 23, 2011 8:03am Jun 23, 2011 8:03am
Quoting Knight Rider
AUD/USD - short.
Quoting Knight Rider
I'm long.
KR,
this is a chart thread.
Quoting human2
Interested why you think short rather than a bounce off support at 1.45 area.
u mean 1.0450?
  • #97,167
  • Jun 23, 2011 8:04am Jun 23, 2011 8:04am
Quoting Knight Rider
I'm long.
why please, because of the S ?
  • #97,168
  • Jun 23, 2011 8:07am Jun 23, 2011 8:07am
Quoting Knight Rider
I'm long.
Give me a few euros too.

(tight stops)
KR
  • #97,169
  • Jun 23, 2011 8:09am Jun 23, 2011 8:09am
Quoting huskyboy
why please, because of the S ?
Yes. If I'm wrong then I'm wrong.

I think this market is trying to bottom.

I don't just watch the currency markets.
  • #97,170
  • Jun 23, 2011 8:10am Jun 23, 2011 8:10am
Quoting jc.
hi guys!

break tl + pullback + ib on d1
and beob that confirm the break of the ib on h4

i'm waiting for a close below the blue rectangle on h4.
Hey JC

Glad someone caught this one. I was watching this one but with the 115 below I was hoping to get the BEOB to close below that RN. Well done bud!
The power of location trumps all else

Best
Mike
  • #97,171
  • Jun 23, 2011 8:16am Jun 23, 2011 8:16am
Quoting mbqb11
Hey JC

Glad someone caught this one. I was watching this one but with the 115 below I was hoping to get the BEOB to close below that RN. Well done bud!
The power of location trumps all else


Best
Mike
I "piggy backed" on this one too.

Thanks JC.
  • #97,172
  • Jun 23, 2011 8:16am Jun 23, 2011 8:16am
other trade i took today (and i know in ichimoku why i took the trade) but in this system i have been looking for an answer and all i can come up to is the retrace to the 61 fib, the break of the 50 level, brake of the ema 47 and following trend. Is the BEOB on the monthly chart in play here or dont we look at it.
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  • #97,173
  • Jun 23, 2011 8:21am Jun 23, 2011 8:21am
Quoting huskyboy
other trade i took today (and i know in ichimoku why i took the trade) but in this system i have been looking for an answer and all i can come up to is the retrace to the 61 fib, the break of the 50 level, brake of the ema 47 and following trend. Is the BEOB on the monthly chart in play here or dont we look at it.
Hey Husky

Be careful your fibs are drawn wrong here.

Here would be a corrected fib from the most recent down move

Let me know if you need clarification

Best
Mike
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  • #97,174
  • Jun 23, 2011 8:29am Jun 23, 2011 8:29am
Quoting huskyboy
other trade i took today...all i can come up to is the retrace to the 61 fib, the break of the 50 level, brake of the ema 47 and following trend. Is the BEOB on the monthly chart in play here or dont we look at it.
of couse, it could be in play here..
but it may depend on how you prefer your BEOBs.
got no charts...but on Oanda demo, it looks like an ugly BEOB or a pinbar-like BEOB (the 'BEOB' close is in the middle & not below the prior bar's open).

Quoting g_j_hook@yah
Actally Pinbar i think your right. doesnt a BEOB need to have a lower low and a higher high than the previous bar, with a close below its open and below the o/c of the previous bar to qualify. i think it needs to close below the previous bars o/c though no?...
Quoting supremeChaos
i think some like a BEOB to be a bar (with a range) that just engulfs the prior bar (irrespective of the 'body' or the open-to-close)
some want a bar with a range (high to low) that engulfs the prior bar's range plus the BEOB's body (open to close) to engulf the prior bar's body too.
Quoting huskyboy
what about this BEOB ?
this is a good looking BEOB (with the close near the low)
  • #97,175
  • Jun 23, 2011 8:32am Jun 23, 2011 8:32am
Quoting mbqb11
Hey Husky

Be careful your fibs are drawn wrong here.

Here would be a corrected fib from the most recent down move

Let me know if you need clarification

Best
Mike

of course, recent high to recent low, thanks thats how we learn
  • #97,176
  • Jun 23, 2011 8:41am Jun 23, 2011 8:41am
Is this going to hold?

It's just so exciting (sarcasm included)

KR
  • #97,177
  • Jun 23, 2011 8:55am Jun 23, 2011 8:55am
Hi everybody!
It will close in 5 minute...
I like it...any comm is welcome!
M
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  • #97,178
  • Jun 23, 2011 8:58am Jun 23, 2011 8:58am
Quoting mbqb11
Hey JC

Glad someone caught this one. I was watching this one but with the 115 below I was hoping to get the BEOB to close below that RN. Well done bud!
The power of location trumps all else

Best
Mike
thank you mike!!
stop trailed at BE and tp just above FTA.. i think price will brake that level too but i prefer too wait for some bearish pa to re-enter short after the break..

i'm short in eur/chf too.. but now arrives the most difficult part: trade
management.. i'll try to let this position go in particular if swiss franc closes above that resistence
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  • #97,179
  • Jun 23, 2011 8:59am Jun 23, 2011 8:59am
Hi Guys

Did anybody take this nice BEOB on Cable? It closed below 150ema, was with trend and engulfed previous 3 bars! Only reason I did not take it was the huge 200pip stop, which is a bit annoying now that it has taken off!! How can I reduce my stops on such setups?

Kal
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  • #97,180
  • Jun 23, 2011 9:21am Jun 23, 2011 9:21am
Quoting J.W. Holmes
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Please wait for an agent to respond.
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Thanks m8, cheers
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