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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

Monitoring this 1.6400 area for a breakout and pullback PA .
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Quoting Pinbar
Looks very close to mine which I setup this morning, ready for next week.
Precisely why I like this approach... the accuracy!

I like to stick to my pre week plan, it prevents any knee-jerk trading and keeps me in the driving seat. Good week ahead to you
Quoting 5.25
Precisely why I like this approach... the accuracy!

I like to stick to my pre week plan, it prevents any knee-jerk trading and keeps me in the driving seat. Good week ahead to you
Yes, it gives us a road map.

Happy trading.
Quoting TransPorter
Hi Mike, I have a question... Does my pattern look clean to you or it's more curve fitted?
Hey TP

The pattern looks ok to me. It is showing signs of fading momentum and that could mean a reversal is coming. I wouldn't trade this one as a straight breakout and pullback, but would be more happy to see some sort of signal before it breaks out. Also not how the daily is not the smoothest with this future and that gapping and choppy makes it tougher to trade technically from my viewpoint. I tend to move up in timeframes till its smoothed out. Weekly is much easier to read

Best
Mike
Quoting aserbfx
i didn't see anyone posting this W1-pinbar on crude oil. right at the 100 usd.
so here it is...
Yes I noticed that too, however, a lot of markets/charts are coming into demand/support (like USD and JPY pairs). The dollar into resistance. Will be interesting to see if this pinbar is telling the truth.
Quoting mbqb11
Hey TP

The pattern looks ok to me. It is showing signs of fading momentum and that could mean a reversal is coming. I wouldn't trade this one as a straight breakout and pullback, but would be more happy to see some sort of signal before it breaks out. Also not how the daily is not the smoothest with this future and that gapping and choppy makes it tougher to trade technically from my viewpoint. I tend to move up in timeframes till its smoothed out. Weekly is much easier to read

Best
Mike
Thank's for the response Mike. Yeah does gaps are giving me a headache. What's your logic behind not to take a breakout + retest trade?
Quoting TransPorter
Thank's for the response Mike. Yeah does gaps are giving me a headache. What's your logic behind not to take a breakout + retest trade?
hey TP

I just think it's a better pattern for a pre-emptive type breakout rather then a breakout and pullback. The angle of the trendline etc. Just a "look" thing to me

Best
Mike
Quoting mbqb11
hey TP

I just think it's a better pattern for a pre-emptive type breakout rather then a breakout and pullback. The angle of the trendline etc. Just a "look" thing to me

Best
Mike
Thanks again Mike. How's MW3 treating you?! I'm on level 80 now, just got double XP last week. LOL To bad I had the game on PS3.
donkey

hi - this is my 1st post here - so Hi all an d thank you for sharing your ideas and knowledge , i have been reading this tread with considerable interest for the past few weeks and i am learning albeit slowly ,
re the comments you made recently on NU- this is also an interesting level as it is at a 61% fib retrace from the low in may to the high in august , more noticeable on the weekly charts , incidentally the MA level is more or less confluent with that level to the pip and the may low /august high also represent the current years low+high so it could be very interesting if PA confirms ,its at an MA , BRN ,Signifigant fib level, PIVOT etc,,
Brian
IBs

Just something I have noticed recently about these areas of HCR or LCS.

There appears to be a great deal of Inside Bars either sitting on top, below or straddling them right in the middle.

I think possibly there is some hint that price is going to go in the direction that the level is either supporting or rejecting.
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Is the high of this H4 PB going to act as support?

Let's see.
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It actually seems like a break out of this h4 channel
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multiple PPZ and 365 EMA confluence. nice PA setup would be good
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Trading: the skill of avoiding trades
Yep, it hit its FTA, took off enough profit to leave the SL where I just moved it to and still be at BE+
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Hello, what do you guys think about this 2 pin bars?
Thanks
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Si stiu, stiu deja, intr-o zi o sa ajung cineva...
Quoting smozmo
Hello, what do you guys think about this 2 pin bars?
Thanks
I'm looking at this too, looks good to me, already entered limit order.
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"Nature's law" is called "Reason". When perfectly understood by human it is
Quoting smozmo
Hello, what do you guys think about this 2 pin bars?
Thanks
Just be very cautious here trading back into all that consolidation and traffic. I am glad to see where your take profit is, but also be sure to monitor as it approaches all that chop again, price can bounce quick

Best
Mike
Quoting mbqb11
Just be very cautious here trading back into all that consolidation and traffic. I am glad to see where your take profit is, but also be sure to monitor as it approaches all that chop again, price can bounce quick

Best
Mike
Thanks for advice!
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
Closed out 75% of the remaining position as we just hit a hard place.
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