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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

  • #102,261
  • Sep 26, 2011 8:51pm Sep 26, 2011 8:51pm
Quoting mbqb11
dude your making me blush, certainly nice of you but don't make my head big its only monday i have an entire week to mess up yet

but thanks man
Yeh well suck it up Fudd.
Personally, I feel Mike is not only the epitimy of patience but also of tenacity.
I have personal experience of Mike in both facets & ... well... Mike is the...

succinct but hopefully sufficient...

Good at what he does.

EF Hutton is ... ... whatever.



B
  • #102,262
  • Sep 26, 2011 8:58pm Sep 26, 2011 8:58pm
Quoting Bemac
Yeh well suck it up Fudd.
Personally, I feel Mike is not only the epitimy of patience but also of tenacity.
I have personal experience of Mike in both facets & ... well... Mike is the...

succinct but hopefully sufficient...

Good at what he does.

EF Hutton is ... ... whatever.



B
EF Hutton speaks . . lol . .what ever happen to that guy . . .lol
Indicators show the past. Price Action "Indicates" the future.
  • #102,263
  • Sep 26, 2011 9:07pm Sep 26, 2011 9:07pm
Quoting jarroo
EF Hutton speaks . . lol . .what ever happen to that guy . . .lol
He got Old. Happens to the best of us.You hope you got some points accross before you fade into the archives and MIKE.

For the Young Electronic FX Market that you are handling and undressing for newer members... 10/10 don't cut it.

Good Job/Well Done/by a Good Man.

'tear'
still miss the Tall Ones. Rocks Bud.

B
  • #102,264
  • Sep 26, 2011 9:37pm Sep 26, 2011 9:37pm
Quoting jarroo
EF Hutton speaks . . lol . .what ever happen to that guy . . .lol
Split somewhere between Citi and Morgans, iirc.

Mike made me ten times less retarded at trading than I used to be. And without calling me a dumbass (that I recall).

Jarroo should definitely be up for a 'patience and tenacity' award as well.
When you have to shoot, shoot. Dont talk.
  • #102,265
  • Sep 26, 2011 9:50pm Sep 26, 2011 9:50pm
As posted yesterday, it closed as a PB on a 365 EMA and off a BRN 0.7700.

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  • #102,266
  • Sep 26, 2011 9:53pm Sep 26, 2011 9:53pm
Quoting mbqb11
Hey TP

I love love love that beob on cocoa, that is as good as it gets for me. Clear levels, nice beob under multi bar lows, strong close

Not a huge fan of IBM , it's a nice level to watch, but I like the structure of cocoa a lot

Best
Mike
Thanks Mike!!!!!
  • #102,267
  • Sep 26, 2011 9:56pm Sep 26, 2011 9:56pm
Quoting Bemac
He got Old. Happens to the best of us.You hope you got some points accross before you fade into the archives and MIKE.

For the Young Electronic FX Market that you are handling and undressing for newer members... 10/10 don't cut it.

Good Job/Well Done/by a Good Man.

'tear'
still miss the Tall Ones. Rocks Bud.

B
Thanks B . .I think I understand most of this .. lol
Indicators show the past. Price Action "Indicates" the future.
  • #102,268
  • Sep 26, 2011 10:01pm Sep 26, 2011 10:01pm
Quoting joelcf
Split somewhere between Citi and Morgans, iirc.

Mike made me ten times less retarded at trading than I used to be. And without calling me a dumbass (that I recall).

Jarroo should definitely be up for a 'patience and tenacity' award as well.
Thanks Joel . .

. .you have the same way with your posts . . . making the complex understandable, fun to read. . so that even I can understand them really helps.

So EF is talking out of both sides of his mouth these days .. . lol
Indicators show the past. Price Action "Indicates" the future.
  • #102,269
  • Sep 26, 2011 10:08pm Sep 26, 2011 10:08pm
Quoting fascist
As posted yesterday, it closed as a PB on a 365 EMA and off a BRN 0.7700.
I like the Daily confluences too, facs . .. Weekly PPZ, Daily 365 ema , 7800 RN. Although the PB is a bit small. Tight S/L under the 365 ema works for me.
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Indicators show the past. Price Action "Indicates" the future.
  • #102,270
  • Sep 26, 2011 10:12pm Sep 26, 2011 10:12pm
I had to take a pass on NZD/USD...the pinbar couldn't close above desired level on my feed.
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  • #102,271
  • Sep 26, 2011 10:31pm Sep 26, 2011 10:31pm
Quoting biDc
I had to take a pass on NZD/USD...the pinbar couldn't close above desired level on my feed.
Yeah . .that Weekly PPZ level is pretty tight. I do look at higher TF levels on the Lower TFs.

Waiting for a Daily or Weekly Close above this level would be a smart play for a long position. .If the Daily PB was bigger I would look for PA momentum to break through it and close above.

The Weekly/Daily Close below this level does give it a bearish bias. . .then again we maybe due for a retrace, where better than at this level.
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Indicators show the past. Price Action "Indicates" the future.
  • #102,272
  • Sep 26, 2011 11:19pm Sep 26, 2011 11:19pm
I like the Weekly confluences on the Usd/Cad, Fib, 150 ema, 1.0300 RN . . PPZ level could be a lot clearer and the Daily PB could be, of course, bigger. . .although it did hit its target . .
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Indicators show the past. Price Action "Indicates" the future.
  • #102,273
  • Sep 26, 2011 11:38pm Sep 26, 2011 11:38pm
Greetings all,

I didn't see a pinbar from my chart but that is definitely a BEOB
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"Nature's law" is called "Reason". When perfectly understood by human it is
  • #102,274
  • Sep 26, 2011 11:48pm Sep 26, 2011 11:48pm
Quoting jarroo
I like the Weekly confluences on the Usd/Cad, Fib, 150 ema, 1.0300 RN . . PPZ level could be a lot clearer and the Daily PB could be, of course, bigger. . .although it did hit its target . .
I'm playing the break of that pinbar

NZD/USD definitely a good location for long. I think if it was me three months ago I would go long here. But after getting burnt multiple times not following the rules strictly...I learned my lesson! I still think it's a good spot to retrace though!
  • #102,275
  • Sep 26, 2011 11:51pm Sep 26, 2011 11:51pm
Quoting Caesar95
Greetings all,

I didn't see a pinbar from my chart but that is definitely a BEOB
Nice Caesar. The question is . . .is the PA Bar and the location (and its confluences) strong enough (big enough) to provide an up movement (to relative targets) to counter the strong move down.

Many would say "No", pass on this one. Or . .play it tight and see if it breaks hard and cover your risk quickly.

Just some thoughts,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #102,276
  • Edited 1:10am Sep 27, 2011 12:00am | Edited 1:10am
Quoting biDc
I'm playing the break of that pinbar

NZD/USD definitely a good location for long. I think if it was me three months ago I would go long here. But after getting burnt multiple times not following the rules strictly...I learned my lesson! I still think it's a good spot to retrace though!

The key to it is the additional confluences for added strength of the setup or level. James16's recent posts points this out pretty clearly.

I would look at your "burnt multiple times" setups and see if there were any additional confluences that lined up with thoses setups. . .meaning these setups may have been valid at their location and PA formation but was there any additional confluences that lined up with them . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #102,277
  • Sep 27, 2011 1:28am Sep 27, 2011 1:28am
Quoting jarroo
I like the Daily confluences too, facs . .. Weekly PPZ, Daily 365 ema , 7800 RN. Although the PB is a bit small. Tight S/L under the 365 ema works for me.
Target hit in my book . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #102,278
  • Sep 27, 2011 1:48am Sep 27, 2011 1:48am
Quoting jarroo
Target hit in my book . . .
Jarroo,

I wanted to know how do you go about taking profits? what are the levels you set.

For me I can get into a trade but I am horrible in managing an open trade.
  • #102,279
  • Sep 27, 2011 2:01am Sep 27, 2011 2:01am
Quoting TheFutureAce
Jarroo,

I wanted to know how do you go about taking profits? what are the levels you set.

For me I can get into a trade but I am horrible in managing an open trade.
Well that is what is so great about a PA setup . .as James16 defines them . .they all have definable targets and we manage the trade with those targets . .

Meaning, . . a clear, strong, quality PA setup has targets . .which can be one or all of the following. . .previous bar Highs or Lows, PPZ levels and /or BRN/RN.

My only expectation of a good PA setup is that Price hits its 1st target . .after that, I manage the trade around that target.

Now if Price hits its target, I (we) must do some sort of action . .why? . .because Price is going to react at this target level. . .take full profit, take partial profits, move to break even at the target, etc. . . this will depend on your style of trading.
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Indicators show the past. Price Action "Indicates" the future.
  • #102,280
  • Sep 27, 2011 2:07am Sep 27, 2011 2:07am
Quoting jarroo
Well that is what is so great about a PA setup . .as James16 defines them . .they all have definable targets and we manage the trade with those targets . .

Meaning, . . a clear, strong, quality PA setup has targets . .which can be one or all of the following. . .previous bar Highs or Lows, PPZ levels and /or BRN/RN.

My only expectation of a good PA setup is that Price hits its 1st target . .after that, I manage the trade around that target.

Now if Price hits its target, I (we) must do some sort of action . .why? . .because Price...
Thanks Jarroo.
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