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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

  • #104,621
  • Nov 20, 2011 4:55am Nov 20, 2011 4:55am
Monitoring this 1.6400 area for a breakout and pullback PA .
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  • #104,622
  • Nov 20, 2011 4:59am Nov 20, 2011 4:59am
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
  • #104,623
  • Nov 20, 2011 5:01am Nov 20, 2011 5:01am
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.
  • #104,624
  • Nov 20, 2011 8:43am Nov 20, 2011 8:43am
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
  • #104,625
  • Nov 20, 2011 10:51am Nov 20, 2011 10:51am
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.
  • #104,626
  • Nov 20, 2011 10:53am Nov 20, 2011 10:53am
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?
  • #104,627
  • Nov 20, 2011 11:09am Nov 20, 2011 11:09am
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
  • #104,628
  • Nov 20, 2011 12:57pm Nov 20, 2011 12:57pm
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.
  • #104,629
  • Nov 20, 2011 5:18pm Nov 20, 2011 5:18pm
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
  • #104,630
  • Nov 20, 2011 11:48pm Nov 20, 2011 11:48pm
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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  • #104,631
  • Nov 21, 2011 12:10am Nov 21, 2011 12:10am
Is the high of this H4 PB going to act as support?

Let's see.
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  • #104,632
  • Nov 21, 2011 12:26am Nov 21, 2011 12:26am
It actually seems like a break out of this h4 channel
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  • #104,633
  • Nov 21, 2011 1:15am Nov 21, 2011 1:15am
multiple PPZ and 365 EMA confluence. nice PA setup would be good
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  • #104,634
  • Nov 21, 2011 1:29am Nov 21, 2011 1:29am
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Trading: the skill of avoiding trades
  • #104,635
  • Nov 21, 2011 2:58am Nov 21, 2011 2:58am
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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  • #104,636
  • Nov 21, 2011 5:05am Nov 21, 2011 5:05am
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...
  • #104,637
  • Nov 21, 2011 6:15am Nov 21, 2011 6:15am
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
  • #104,638
  • Nov 21, 2011 6:26am Nov 21, 2011 6:26am
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
  • #104,639
  • Nov 21, 2011 6:37am Nov 21, 2011 6:37am
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...
  • #104,640
  • Nov 21, 2011 7:01am Nov 21, 2011 7:01am
Closed out 75% of the remaining position as we just hit a hard place.
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