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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

  • #97,681
  • Jun 30, 2011 7:59pm Jun 30, 2011 7:59pm
Quoting joelcf

I love Bemac posts because he is the only person in the world who uses more punctuation than I do.
I hope you like me joel

I am the anti punctuation just ask my teachers growing up
  • #97,682
  • Jun 30, 2011 8:04pm Jun 30, 2011 8:04pm
Quoting joelcf
Some people are masochists.



I love Bemac posts because he is the only person in the world who uses more punctuation than I do.
One of the Few. You may not be aware of that yet. but it's coming.

B
  • #97,683
  • Jun 30, 2011 8:36pm Jun 30, 2011 8:36pm
Quoting Banzaisky
Hi Pin, how discouraged would you be if this pb closed exactly as it is now - not within the body of the previous candle or, being a monthly chart, is this still likely to work out? Thanks
There is no way, I am going to trade it on the monthly TF, but this may be a sign of a reversal, I am looking more for a break above these RNs with a pullback at either of these areas.
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  • #97,684
  • Jun 30, 2011 9:11pm Jun 30, 2011 9:11pm
Dan, Will you be trading this setup ?
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  • #97,685
  • Jun 30, 2011 9:17pm Jun 30, 2011 9:17pm
Quoting mbqb11
'
Hey Maxy

I would be watching now as we break this longer term descending TL around the BRN of l.2. So if we can start to close outside this and then pullback to the BRN I would watch this area closely for PA for possible longs. We could start to work our way higher if this area holds as support. So I would like to see how we act on a pullback to that area

Best
Mike
Hi mike,

noted 1.2 as the BRN and thank you for your advise

Brgds,
Maxy
  • #97,686
  • Jun 30, 2011 9:17pm Jun 30, 2011 9:17pm
Quoting Bemac
No More than 30% of account exposed to Margin.
No More than 8% OF THE 30% exposed to the same Market.

{Homework assignment.
What is 8% of 30%}
Currency Trading is but a Single Market.



B
2.4%. Excellent point.
Fail to plan, plan to fail.
  • #97,687
  • Jun 30, 2011 10:52pm Jun 30, 2011 10:52pm
Quoting gungriffin
Wow nicely done. Just curious where did you place your s/l on this one?
Thanks! It stalled right on the RN so I exited.
Initial SL is always behind bar, then I begin to reduce it quickly. So here I moved it behind left eye.
  • #97,688
  • Jun 30, 2011 11:30pm Jun 30, 2011 11:30pm
Heres one im looking at on the N/U daily:

Pinbar
Divergence

http://img199.imageshack.us/img199/811/13569397.gif
  • #97,689
  • Jul 1, 2011 12:10am Jul 1, 2011 12:10am
Hi Mike,

EURAUD on 240M TF close above BRN 1.35xx look nice to entry long what is your view mike, on D1 last candle we see the failure candle with closing higher from opening .... what do you think Mike, Technical target 1.368xx

Brgds,
Maxy
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  • #97,690
  • Jul 1, 2011 12:25am Jul 1, 2011 12:25am
Quoting mbqb11
I hope you like me joel

I am the anti punctuation just ask my teachers growing up
Anyone who manages to crack a hundred posts per hour gets a lifetime free pass as far as I am concerned
When you have to shoot, shoot. Dont talk.
  • #97,691
  • Jul 1, 2011 12:27am Jul 1, 2011 12:27am
Quoting mrhb30jr
Hi Mike,

EURAUD on 240M TF close above BRN 1.35xx look nice to entry long what is your view mike, on D1 last candle we see the failure candle with closing higher from opening .... what do you think Mike, Technical target 1.368xx

Brgds,
Maxy
Hey Maxy

I actually had a pending order on this BUOB on the 4hr. But the next bar did not trigger my order so i pulled it.

I think we are consolidating down as you are showing so there is a good chance for a quick bounce. I would be looking lower twoards 1.36 there is the descending trendline and PPZ

Best
Mike
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  • #97,692
  • Jul 1, 2011 12:34am Jul 1, 2011 12:34am
Quoting mbqb11
Hey Maxy

I actually had a pending order on this BUOB on the 4hr. But the next bar did not trigger my order so i pulled it.

I think we are consolidating down as you are showing so there is a good chance for a quick bounce. I would be looking lower twoards 1.36 there is the descending trendline and PPZ

Best
Mike
Hi Mike,

Noted with thank you very clear explanation Mike ...

Brgds,
Maxy
  • #97,693
  • Jul 1, 2011 1:48am Jul 1, 2011 1:48am
Words cant describe how beauftifull this setup is
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  • #97,694
  • Jul 1, 2011 2:49am Jul 1, 2011 2:49am
Quoting Greenhaze
Words cant describe how beauftifull this setup is
Agree, been waiting paitently for it.
  • #97,695
  • Jul 1, 2011 3:36am Jul 1, 2011 3:36am
Quoting Greenhaze
Words cant describe how beauftifull this setup is
Hi Greenhaze. What way do you play this one? Do you preset your entry? If so how do you determine exactly where? By this I mean that the s/r could be taken as from 1.3617 to 1.3640. I just find it hard to set the entry point. Also what kind of s/l would you use as it could breakout through the trendline.
  • #97,696
  • Jul 1, 2011 3:47am Jul 1, 2011 3:47am
Quoting supremeChaos
hello blott,
PF = Private (paid) Forum.... referring to the James16 PF.
u'll get to read about it as u move along this thread's pages.

welcome to the thread!
Hi and thanks to you and Bemac for the welcome. Will pay attention and soak up the information. This is one of the longest forums I've seen; must be good!

Mike
  • #97,697
  • Jul 1, 2011 4:03am Jul 1, 2011 4:03am
Quoting human2
Hi Greenhaze. What way do you play this one?...
not sure if Sir GH will be around soon, but let me chime in...
he plans to trade short from 1.3628 area (his horizontal line).
this is a blind touch trade (yes with a preset entry, usually)... no PA setup (Pinbar, etc) required to enter.

this is a highly advanced trading style IMHO.

if u are new to this thread ,i highly suggest u go through the basics first (taking trades off of pinbars, etc; & learning about S/R & PPZs). of course, u can revisit this trading style later on.
  • #97,698
  • Jul 1, 2011 4:15am Jul 1, 2011 4:15am
Quoting human2
Hi Greenhaze. What way do you play this one? Do you preset your entry? If so how do you determine exactly where? By this I mean that the s/r could be taken as from 1.3617 to 1.3640. I just find it hard to set the entry point. Also what kind of s/l would you use as it could breakout through the trendline.
Hi Human,

In this case i put my limit order @ 1.3627. Price was aproaching this area really fast and i was expecting it to overshoot that level but that didnt happen. At this point i moved my order a little higher in case of price making higher high into the buystop territory. SL above 1.3700 but i would want to close that trade with minimum loss if daily bar would close above the resistance. Thats how i play those kind of patterns in a nutshell. Hope it helped.

All the best
  • #97,699
  • Jul 1, 2011 4:32am Jul 1, 2011 4:32am
I agree with Sir SC,

Step by step approach will cost You less money.
  • #97,700
  • Jul 1, 2011 4:37am Jul 1, 2011 4:37am
Quoting Greenhaze
Words cant describe how beauftifull this setup is
dang, I've slept it. And to add insult to injury, chf/jpy dropped some more today, after I've closed yesterday... Grr...
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