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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

  • #107,281
  • Feb 12, 2012 12:25pm Feb 12, 2012 12:25pm
Mike
Hello

And a good week

IB has a deal to pair eur / j

I would appreciate feedback very
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  • #107,282
  • Feb 12, 2012 12:26pm Feb 12, 2012 12:26pm
Quoting zamfir
Namaste! to you too Avanish...or is it Avinash?
its Avanish.
many mistake it as Avinash..Avinash is more common here
anyways,whats in a name.lol
  • #107,283
  • Feb 12, 2012 1:57pm Feb 12, 2012 1:57pm
Quoting Yehuda Sh
Mike
Hello

And a good week

IB has a deal to pair eur / j

I would appreciate feedback very
Hey Yehuda

Yep right now that resistance is holding as support. A break higher of the inside bar should get us towards the 104 area.

Best
Mike
  • #107,284
  • Feb 12, 2012 2:13pm Feb 12, 2012 2:13pm
Quoting zamfir
Guys, i found a setup on audcad weekly. First target about 100+ pips

Can anyone tell me if this is correct analysis or something wrong?

Thanks
again we got to be careful, because if u notice my top red line is the highest point of resistence, next red line down is the highest close of resistence, price may have created a pinbar but also has rejected at the new support which was the resistence, if it had closed below these levels i would definately be looking for an entry, but the closing of the weekly has not made this a A+ trade in my books.
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  • #107,285
  • Feb 12, 2012 2:28pm Feb 12, 2012 2:28pm
Quoting Michael-SPA
+ Good shape and size. There is traffic to the left BUT the strong close above traffic and parity as well as the violation of the BEOC (2-2-12) high eliminate this negative element
+ Monthly at a range BUT after an uptrend. The range is above parity and the two day BUOC closed above the MTDL
.....
Hi Michael
I liked the indicator you have used on the chart. Is it possible to share it...

Regards,
  • #107,286
  • Feb 12, 2012 4:01pm Feb 12, 2012 4:01pm
Quoting MSForex
Hi Michael
I liked the indicator you have used on the chart. Is it possible to share it...

Regards,
It is not something special. But I will ask the creator and if i have his permission I will.
  • #107,287
  • Edited 4:34pm Feb 12, 2012 4:22pm | Edited 4:34pm
Trade Plan
-Buy Stop 12 pips above the high of the two day BUOC (10% of the high-low length)
-Stop Loss at the low of the formation
-Take full profit at the FCL
-Capital at risk: 1% (trading within a range)

Full profit at 1.0100 because cluster of daily res., weekly res., weekly and monthly 20 ema.
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  • #107,288
  • Feb 12, 2012 4:27pm Feb 12, 2012 4:27pm
Quoting Michael-SPA
Trade Plan
-Buy Stop 12 pips above the high of the two day BUOC (10% of the high-low length)
-Stop Loss at the low of the formation
-Take full profit at the FCL
-Capital at risk: 1% (trading within a range)

Full profit at 1.0100 because of cluster of daily res., weekly res., weekly and monthly 20 ema.
that is not a BUOB

Bullish Outside Bar aka BUOB

The second bar engulfs the first bars High/Low range
( in your pircure it did not engulf the lows of the previous bar)

unless of course your counting it as a 2day bar. Which in that case its fine.
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  • #107,289
  • Feb 12, 2012 4:31pm Feb 12, 2012 4:31pm
Yes you are right. But i wrote 2 DAY BUOB. Join the Thursday and Fridays bar and make them one.
  • #107,290
  • Feb 12, 2012 4:32pm Feb 12, 2012 4:32pm
Quoting Michael-SPA
Yes you are right. But i wrote 2 DAYS BUOC.
my aplogies

in my post i have said, unless your counting it as a 2day.
  • #107,291
  • Feb 12, 2012 4:40pm Feb 12, 2012 4:40pm
It is fine. I am new in this thread and i must adjust my abbreviations to the ones here. I really like this tread!!!
  • #107,292
  • Feb 12, 2012 4:44pm Feb 12, 2012 4:44pm
Quoting Michael-SPA
It is fine. I am new in this thread and i must adjust my abbreviations to the ones here. I really like this tread!!!
Welcome, stick to it, and be patient and it will come to you over time, ive had a look at what your trading, im going to look at the reaction of the 4 hr candle at the bottom red line i have which is the highest resistence now maybe turned support, looks like it could hold, but im hoping price can push down to it so i can see some nice reaction.
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  • #107,293
  • Feb 12, 2012 5:32pm Feb 12, 2012 5:32pm
Quoting deankenny21
Welcome, stick to it, and be patient and it will come to you over time, ive had a look at what your trading, im going to look at the reaction of the 4 hr candle at the bottom red line i have which is the highest resistence now maybe turned support, looks like it could hold, but im hoping price can push down to it so i can see some nice reaction.
Explain me please,

The highest res. that now may turn support??? but it is a support, right? We just need price to confirmed it as support.
  • #107,294
  • Feb 12, 2012 5:42pm Feb 12, 2012 5:42pm
Quoting Michael-SPA
Explain me please,

The highest res. that now may turn support??? but it is a support, right? We just need price to confirmed it as support.
its not confirmed support yet, well for me, i need to have a candle close with a rejection of the level we have had the PBT and CA happen now im waiting for my rule of retrace and rejection, like Jim does. As you can see from my updated chart below we having a rejection now right to the pip on the PPV i have marked so looking very interesting.
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  • #107,295
  • Feb 12, 2012 5:52pm Feb 12, 2012 5:52pm
GBPNZD is in strong bearish trend with two very important BRN: 1.90 and 1.85
I'm looking for a bearish PA bellow the 1.90 for 1.85 as target.
Very clear levels,decent target and very few traffic, but most of all with the overall bearish trend.
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Nothing personal,just business
  • #107,296
  • Feb 12, 2012 7:31pm Feb 12, 2012 7:31pm
Quoting mbqb11
Hey Gag

What we do here is speak about concepts. These concepts must be learned on their own and then over time we work at working those concepts together to create our trade plans.

The best place to start is post 1 and work your way through. I would at the least to make sure to go through every single on of Jim's post.

As well there are many free videos on the guest side that you may find useful.

What the above was meant to say is that we talk about a lot of stuff in this thread, from beginner to more advanced of our personal trading....
Thanks a lot Mike. I will start to read the post 1 and all james post. It seems that I found this thread too late, this thread is very huge now.,

The free video? I don't find it at first page.

About the bar formation, do you mean like head n shoulder, triangle, channel ?


@AvanishDemo
Thanks a lot for quote. I will keep it in my mind.
  • #107,297
  • Feb 12, 2012 7:33pm Feb 12, 2012 7:33pm
Quoting gadogado
Thanks a lot Mike. I will start to read the post 1 and all james post. It seems that I found this thread too late, this thread is very huge now.,

The free video? I don't find it at first page.

About the bar formation, do you mean like head n shoulder, triangle, channel ?


@AvanishDemo
Thanks a lot for quote. I will keep it in my mind.
Hey G

The bar formations are the common bars used like pinbars, outside bars, inside bars etc. Those formations you mentioned can also play a useful role in determining confluence and strong locations for your trades.

The free videos are on the website that is in the first post, in the guest area

Best
Mike
  • #107,298
  • Feb 12, 2012 8:02pm Feb 12, 2012 8:02pm
Quoting Michael-SPA
+ Good shape and size. There is traffic to the left BUT the strong close above traffic and parity as well as the violation of the BEOC (2-2-12) high eliminate this negative element
+ Monthly at a range BUT after an uptrend. The range is above parity and the two day BUOC closed above the MTDL
+ Weekly at a range BUT after an uptrend. The range is above parity and the two day BUOC closed the WTDL
+ Direct trend is in sync (bullish) (provided that a buy stop order pending above the two day BUOC is filled)
+ There is NO internal unconfirmed weekly resistance...
Hi Michael,
I like the way you do your trade analysis, listing out the pros and cons of each trade. Good work!

You mentioned NO internal unconfirmed weekly resistance . What do you mean by that? ANd also the abbreviation like FCL, CNF etc? If you have explained this b4, pls just direct me to that post, thks!
  • #107,299
  • Feb 12, 2012 8:11pm Feb 12, 2012 8:11pm
Quoting mbqb11
Hey G

The bar formations are the common bars used like pinbars, outside bars, inside bars etc. Those formations you mentioned can also play a useful role in determining confluence and strong locations for your trades.

The free videos are on the website that is in the first post, in the guest area

Best
Mike
I got it. Thank's a lot, mike. I will start to watch it.

What about the PF, what is it? is the PF is the same joining the website. What is the different between here and the PF? Could I join the PF?
  • #107,300
  • Feb 12, 2012 8:21pm Feb 12, 2012 8:21pm
Quoting gadogado
I got it. Thank's a lot, mike. I will start to watch it.

What about the PF, what is it? is the PF is the same joining the website. What is the different between here and the PF? Could I join the PF?
Hey G

The pf is the private forum. We just consider it an expanded version of what's here since we have better means to get to people in a more controlled environment.

Hang out here for awhile though, tons and tons of information in this thread, we'll be around

Best
Mike
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