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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

  • #104,401
  • Nov 15, 2011 6:00am Nov 15, 2011 6:00am
Quoting gol_chin88
Thanks for your good advice
How do you price your ultimate goal?
Whether you're looking to buy the following last week low?

Hi

I don't really look at last weeks low or highs, I mainly just use S&R areas and of course when we place the trade, the First Trouble Area is the ultimate goal.
After that, we can take partial or full profit, and or, move the SL to BE.
I watch how price reacts at our next possible trouble area, if it breaks through those areas, we can then use these levels to move our SL until price eventually takes us out of the trade. As I am currently doing with this AUD/USD trade.
  • #104,402
  • Edited 7:26am Nov 15, 2011 6:57am | Edited 7:26am
Quoting gol_chin88
which the best?or true?

Sorry, missed your post.

This is not a BUEOB I would take but the normal entry is when price breaks the high of the PA bar, with a buffer of around 10-15 pips on the daily TF.



Also, I do not trade the 50 retrace of BUEOBs, only the break of them with a buffer. Usually.

EDIT: We can also add that, it did not break on the next bar, if it doesn't break on the next bar, a lot of people will pass on them.

There are some occasions when I will take them even if the next bar does not break but, I need other reasons for it.

Also, the H1 TF is mainly noise, for new people. You really should watch the higher TFs for PA and S&R.
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  • #104,403
  • Nov 15, 2011 7:30am Nov 15, 2011 7:30am
This H4 PB in the making is probably going to take out my SL.

That combined with some heavy news in a few mins.

EDIT. Yep, just took me out before it closed.
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  • #104,404
  • Nov 15, 2011 7:48am Nov 15, 2011 7:48am
hey guys, i cant remember if i have asked this before..but come late nov and dec..do you guys take caution in setups or do you treat it like normal trading in the rest of the year?

December seems a very volatile month due to the holidays.
  • #104,405
  • Nov 15, 2011 7:55am Nov 15, 2011 7:55am
Quoting jarroo
Hey Mike . .all we are doing is trading the on Daily, Weekly and even the Monthly . .it just that we are using the Lower TFs off these Higher TF levels . .isn't that the same thing as trading the Daily and Weekly TFs??

Just kidding with you Mike .. .lol Your point is indeed a crucial one. leaning the basics of what James16 and Mike teach here is the foundation of all of my trading . .just to speak for myself.

Trust me . . . the basics of PPZ levels, Location, Space, Confluence, Size (of PA), Swing Highs/Lows, etc...
haha , I post the lower timeframes too. It's a good reminder for all of us with this thread. We gotta be constantly thinking about all the new people who are exposed to it. This thread will always be the safe haven for new traders because of you guys that make it that way.


Rock on friends
Mike
  • #104,406
  • Nov 15, 2011 8:01am Nov 15, 2011 8:01am
Quoting mbqb11
you guys are doing great , love reading all your posts

Things are heavy across the board. I am watching very similar to you guys. Still waiting for the tip off but fantastic areas to watch
we got our trigger in the form of a pinbar(notice it is at a swing low ). I am posting this as a follow up though

and I am referencing this chart/post as a follow up to


Quoting mbqb11
Hey CK

It's not as simple as saying I don't trade a breakout and pullback at a PPZ. It depends on the look of the setup. My focus is on the story of a setup. A PPZ, or a breakout pattern can be part of the setup and is just a concept I will pull together. Generally speaking I keep the term breakout and pullback to my breakout portion of my trading. I certainly use PPZ greatly in both my entries and exits. But I take many trades that have no breakout patterns.

Best
Mike

Here is an example where I am playing a pullback with a pinbar to a PPZ more then a breakout, but it also has the Breakout too it(see boxing).
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  • #104,407
  • Nov 15, 2011 8:24am Nov 15, 2011 8:24am
Quoting fascist
hey guys, i cant remember if i have asked this before..but come late nov and dec..do you guys take caution in setups or do you treat it like normal trading in the rest of the year?

December seems a very volatile month due to the holidays.
Pretty much normal, but as we get towards late Dec, if things start getting thin then I tend to just be more careful. Then when it gets to last week I stop trading just to do other things myself

Best
Mike
  • #104,408
  • Nov 15, 2011 8:28am Nov 15, 2011 8:28am
Quoting Pinbar
Sorry, missed your post.

This is not a BUEOB I would take but the normal entry is when price breaks the high of the PA bar, with a buffer of around 10-15 pips on the daily TF.



Also, I do not trade the 50 retrace of BUEOBs, only the break of them with a buffer. Usually.

EDIT: We can also add that, it did not break on the next bar, if it doesn't break on the next bar, a lot of people will pass on them.

There are some occasions when I will take them even if the next bar does not break but, I need other reasons for it.

Also, the H1...
Thank you very much leave your comments are very accurate and useful. You like the sun shining in this froum.
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  • #104,409
  • Nov 15, 2011 8:32am Nov 15, 2011 8:32am
Hey Mike ,
I was just about to ask you if you have played this EURJPY pin
Wish you a nice trade there
  • #104,410
  • Nov 15, 2011 9:07am Nov 15, 2011 9:07am
Quoting Pinbar
And we can thank J16, Jarroo, Mike & many others, for so unselfishly showing us this for no ulterior motive, other than, they have probably all been there before & done that, and wish that none of us fall into the same traps.
Those are wise words, thanks to each one of them!!!, and by the way, read that James is 1 year older, happy birthday man, best wishes for you and your family!!!
Hector
  • #104,411
  • Nov 15, 2011 9:30am Nov 15, 2011 9:30am
Quoting jarroo
Hey Mike . .all we are doing is trading the on Daily, Weekly and even the Monthly . .it just that we are using the Lower TFs off these Higher TF levels . .isn't that the same thing as trading the Daily and Weekly TFs??
Ooops, at first it was a thought i had, reading this makes me think again!!!, absolutly right!!!, my rookiness!!! (if that is even a word)

Sorry!!!

Hector
  • #104,412
  • Nov 15, 2011 9:31am Nov 15, 2011 9:31am
Quoting mbqb11
Pretty much normal, but as we get towards late Dec, if things start getting thin then I tend to just be more careful. Then when it gets to last week I stop trading just to do other things myself

Best
Mike
I see..well i'll just wait for A + trades until mid Dec then..
  • #104,413
  • Nov 15, 2011 9:43am Nov 15, 2011 9:43am
Quoting fascist
I see..well i'll just wait for A + trades until mid Dec then..
always the way to approach it

Best
Mike
  • #104,414
  • Nov 15, 2011 10:01am Nov 15, 2011 10:01am
there is my USDCAD story with very profitable end I hope just need some patience.
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all is eternal - this is good news for people who loves bad news
  • #104,415
  • Nov 15, 2011 10:09am Nov 15, 2011 10:09am
Quoting meshka
there is my USDCAD story with very profitable end I hope just need some patience.
  • #104,416
  • Nov 15, 2011 11:31am Nov 15, 2011 11:31am
"Like" to upper two posts
  • #104,417
  • Nov 15, 2011 11:31am Nov 15, 2011 11:31am
Quoting mbqb11
haha , I post the lower timeframes too. It's a good reminder for all of us with this thread. We gotta be constantly thinking about all the new people who are exposed to it. This thread will always be the safe haven for new traders because of you guys that make it that way.


Rock on friends
Mike
Ditto. I'm still waiting for a daily or weekly J16 setup to appear for me. Been a long grind the last 3 or 4 weeks waiting for something to setup for me.
  • #104,418
  • Nov 15, 2011 11:33am Nov 15, 2011 11:33am
Quoting picon1
Ditto. I'm still waiting for a daily or weekly J16 setup to appear for me. Been a long grind the last 3 or 4 weeks waiting for something to setup for me.
yeah me too. took a bad trade on gbpusd.
  • #104,419
  • Nov 15, 2011 11:38am Nov 15, 2011 11:38am
Quoting mbqb11
we got our trigger in the form of a pinbar(notice it is at a swing low ). I am posting this as a follow up though

and I am referencing this chart/post as a follow up to





Here is an example where I am playing a pullback with a pinbar to a PPZ more then a breakout, but it also has the Breakout too it(see boxing).
Hey Mike well played.
i was watching this level as well but somehow i wasn't convinced with PB "mainly" bcos of swing low..continuation-BEOB wuld hav been comfortable(for me)..
oh well..atleast no loss if no profit

Quoting jarroo
kind of funny . .the black line is the live Price level on my charts.

Got to go for now . . . later

Jim
HIIIIIIIII Jarroo!
hope u doing great.
with all those LCS n HCRs,u completely rocking the thread mate.
Simple stuff yet cool!!
  • #104,420
  • Nov 15, 2011 11:39am Nov 15, 2011 11:39am
Quoting fascist
yeah me too. took a bad trade on gbpusd.
I've had a couple of good trades this week, but in terms of trading J16 setups, it's been a long wait for good daily and weekly trades.
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