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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

  • #105,821
  • Jan 12, 2012 7:15am Jan 12, 2012 7:15am
My next plan. Can anyone comment on this please?
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  • #105,822
  • Jan 12, 2012 7:37am Jan 12, 2012 7:37am
If this can close above 1.3 it forms a nice 3 day PB which has bounced perfectly on the D1 365 and 38.2 fib in it's formation....

It's an area to be watching.
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  • #105,823
  • Jan 12, 2012 7:45am Jan 12, 2012 7:45am
Wonder if Mike also took this preemptive H1 PB.

I would like to see this H4 bar end up with a nice close as a BEOB, for a push down to 75.02.
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  • #105,824
  • Jan 12, 2012 7:54am Jan 12, 2012 7:54am
Quoting Pinbar
Wonder if Mike also took this preemptive H1 PB.

I would like to see this H4 bar end up with a nice close as a BEOB, for a push down to 75.02.
was just about to enter on that H1 bar, got distracted, looked back and it'd broken already.... dont know if it's what Mike would be looking for but i was going to try it. There have been a few nice bars on the way down to the BRN actually (historically that is).
  • #105,825
  • Jan 12, 2012 8:01am Jan 12, 2012 8:01am
USD/CAD heading for nice consolidation around the 1.02 level. Should get interesting in a few days.
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  • #105,826
  • Jan 12, 2012 8:49am Jan 12, 2012 8:49am
Quoting beebolbod
was just about to enter on that H1 bar, got distracted, looked back and it'd broken already.... dont know if it's what Mike would be looking for but i was going to try it. There have been a few nice bars on the way down to the BRN actually (historically that is).

Yeah, we have to be quick with these patterns.

Took half off the table and am BE.
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  • #105,827
  • Jan 12, 2012 9:13am Jan 12, 2012 9:13am
bearish engulf. outside bar ? lets c

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Hero calls followed by margin calls...
  • #105,828
  • Jan 12, 2012 9:23am Jan 12, 2012 9:23am
Quoting PhAnTi'
bearish engulf. outside bar ? lets c

Attachment

you mean Bullish ?

Best V
  • #105,829
  • Jan 12, 2012 9:25am Jan 12, 2012 9:25am
Quoting Pinbar
Yeah, we have to be quick with these patterns.

Took half off the table and am BE.

Good one Pin. the other half might see your bottom trend line ))

Cheers V
  • #105,830
  • Jan 12, 2012 9:27am Jan 12, 2012 9:27am
Quoting beebolbod
Anyone like this? I'm short this pair for a while now but i like this for quick 80 pips or so, maybe more.
anyone took this?
  • #105,831
  • Jan 12, 2012 9:27am Jan 12, 2012 9:27am
Quoting Rust
Hey Mike ,
I have 2 questions for you if you don't mind

Today i was watching these 2 charts :

EURCHF
It looks good to me , except is a bit too choppy . Your opinion ?

AUDJPY
Already shot straight up , with no pullback , but let's pretend it's not . Question is : does this qualify ?
I mean it's a long straight clean run before the marked consolidation to breakout from , but overall we are in a middle of a bigger sideways action . Is this bad enough to pass on it (if we pretend it pulled back with nice pa , instead of going through...
Hey Rust

I'd avoid both of them personally. Eur/chf is under it's intervention range bound choppy market right now so the chance of a lot of patterns sustaining is just too low for me. In other words there is a larger consolidation we are in that is too tight. Similar on aud/jpy but not b/c of anything other then that is a very sideways market. I prefer to trade breakouts(especially 4hr and lower) only with the trend. Also the pattern to me is not developed enough. So that pattern doesn't have enough of a formation for me. Now if you went down to the 30 min I would actually say now the pattern is nice and with a trending market. Also notice you get your 3 bounce off the TL to really confirm it.

Check chart below (it sounds silly but it's important to me about the pattern vs timeframe etc, just like our bars)

Best
Mike
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  • #105,832
  • Jan 12, 2012 9:28am Jan 12, 2012 9:28am
Quoting Pinbar
Yeah, we have to be quick with these patterns.

Took half off the table and am BE.
you took the BEOUB i take it?
  • #105,833
  • Jan 12, 2012 9:29am Jan 12, 2012 9:29am
this zone with the red line in Gold might be something to watch for up or down , yes ? )

Best
v
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  • #105,834
  • Jan 12, 2012 10:01am Jan 12, 2012 10:01am
Quoting menomoo
this zone with the red line in Gold might be something to watch for up or down , yes ? )

Best
v
Good area to look at m8.
  • #105,835
  • Jan 12, 2012 10:09am Jan 12, 2012 10:09am
Quoting Zeee86
Hi! What do you think, made I some mistake , when i sell this pin bar (yellow line)???
Beautiful pin, round number, TL, fib...

i faild... Was there some mistake, or its a "necessary loss"??
which pinbar are you referring to ?

...please remove your bollingers....bullshit
Hero calls followed by margin calls...
  • #105,836
  • Jan 12, 2012 10:20am Jan 12, 2012 10:20am
Quoting mbqb11
Hey Rust

I'd avoid both of them personally. Eur/chf is under it's intervention range bound choppy market right now so the chance of a lot of patterns sustaining is just too low for me. In other words there is a larger consolidation we are in that is too tight. Similar on aud/jpy but not b/c of anything other then that is a very sideways market. I prefer to trade breakouts(especially 4hr and lower) only with the trend. Also the pattern to me is not developed enough. So that pattern doesn't have enough of a formation for me. Now if you went...
Thank you man , your thoughts are exactly what I was thinking . Even the details hehe ! Nothing better, than to hear it from you

Thanks !
  • #105,837
  • Jan 12, 2012 10:36am Jan 12, 2012 10:36am
Nice H4 BEB on NU

and Nice PB on AU
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  • #105,838
  • Jan 12, 2012 11:03am Jan 12, 2012 11:03am
Hello Mike and the seniors,
Pls i would like you to comment on this emerging bar on the daily time frame, though the bar is yet to close. Thanks
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  • #105,839
  • Jan 12, 2012 11:24am Jan 12, 2012 11:24am
nice BUOB on EURAUD. 500 pips available if it will hold and validate tommorow.
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all is eternal - this is good news for people who loves bad news
  • #105,840
  • Jan 12, 2012 12:22pm Jan 12, 2012 12:22pm
The problem with all of these buob's that undoubtedly are forming on all usd and eur pairs is that they are fundamentally related. Bad US unemployment numbers and the ECB decided not to raise rates as well as Draghi spoke nicely about the European economy. I would be careful about these since news tends to cause a temporary reversal with continuation of the current trend. If I had been looking, I maybe would have considered some stuff on the 4h or even the 1h but the day is over now and probably we will see a trend continuation. I know that J16 peoples tend to be against fundies but I would be careful. Also I am sure almost all pairs are going to have already stopped at s/r levels.
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