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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

  • #107,421
  • Feb 15, 2012 2:14pm Feb 15, 2012 2:14pm
Quoting meshka
Yes ... these are really good yummy pins. my little headaches
i dont like the AUDJPY pin but the CADJPY is good as far as i can see. Bounced off 79 and closed below 78.55 which has acted as strong level previously. Heading back into traffic though so one to manage tightly if it breaks.
Maybe we'll see consolidation here as in Aug/Sept 2011?

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  • #107,422
  • Feb 15, 2012 2:15pm Feb 15, 2012 2:15pm
See pin-bar to go short. Has space and good nose, I think. Any comments.
Attached Image
  • #107,423
  • Feb 15, 2012 2:19pm Feb 15, 2012 2:19pm
Mike
Hello

What do you think about pb g / AUD?

Is it worth trading?

Thank you
  • #107,424
  • Feb 15, 2012 2:22pm Feb 15, 2012 2:22pm
Quoting fxkaka
See pin-bar to go short. Has space and good nose, I think. Any comments.
Hey KK

Be careful that first bar is not a pinbar it's a nothing bar as per james16

I put some notes on about todays small pinbar

Best
Mike
Attached Image (click to enlarge)
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  • #107,425
  • Feb 15, 2012 2:23pm Feb 15, 2012 2:23pm
Quoting deankenny21
well if you guys remember, i entered audjpy a while ago from the BUOB highlighted in blue, and what a ride ive had, i been moving my SL up everytime it broke a Trouble area, i could finally get taken out today for +210 pips or so, not bad at all
nice trade and, more important, well managed!

keep up the good work
  • #107,426
  • Feb 15, 2012 2:24pm Feb 15, 2012 2:24pm
Quoting Yehuda Sh
Mike
Hello

What do you think about pb g / AUD?

Is it worth trading?

Thank you
Hey Yehuda

All of todays bars are pretty much the same for me. Very tiny against strong trends. I don't much get involved with these as you really have to babysit them. The gbp/aud closed weak for me making the previous bar high(the FTA lining up with the bar lows) too close for comfort

Of course just my opinions as always

Mike
  • #107,427
  • Feb 15, 2012 2:29pm Feb 15, 2012 2:29pm
Quoting fxkaka
See pin-bar to go short. Has space and good nose, I think. Any comments.
78 area would be fta
  • #107,428
  • Feb 15, 2012 2:33pm Feb 15, 2012 2:33pm
Quoting stewrigh
So is it an A+ trade?.... you decide -

Cons..... against the trend, PA unclear, trading into resistance.
Pros - BOJ might intervene, BUOB

Attachment
Why would BoJ intervene here?
  • #107,429
  • Feb 15, 2012 2:40pm Feb 15, 2012 2:40pm
Thanks Mike. Yes I am watching the FTA too.

Quoting mbqb11
Hey KK

Be careful that first bar is not a pinbar it's a nothing bar as per james16

I put some notes on about todays small pinbar

Best
Mike
  • #107,430
  • Feb 15, 2012 2:43pm Feb 15, 2012 2:43pm
Hi all,

We have mentioned how there is varying/conflicting stories on the various JPY pairs. UJ is up (BUOUB closed above BRN), CJ is down it seems (PB short over PPZ) - please excuse assumptions.

So my question is, is it ok/possible to trade these like this or must they follow one another? The charts tell slightly differing stories but they are all 'similar' in shape - more or less.
  • #107,431
  • Feb 15, 2012 2:45pm Feb 15, 2012 2:45pm
Quoting Primi
Why would BoJ intervene here?
They might not but no-one knows. They have, by there own admission been selling the Yen in the past few weeks. Their line in the sand is, if you believe all the rumours 76 so buying there might make more sense.
  • #107,432
  • Feb 15, 2012 2:47pm Feb 15, 2012 2:47pm
Quoting beebolbod
Hi all,

We have mentioned how there is varying/conflicting stories on the various JPY pairs. UJ is up (BUOUB closed above BRN), CJ is down it seems (PB short over PPZ) - please excuse assumptions.

So my question is, is it ok/possible to trade these like this or must they follow one another? The charts tell slightly differing stories but they are all 'similar' in shape - more or less.
You hit the nail on the head there - basically, when in doubt stay out. If the yen is strong it'll go up against all currencies, so if you see negative CJ but positive UJ that should ring a few alarm bells.
  • #107,433
  • Feb 15, 2012 3:06pm Feb 15, 2012 3:06pm
Quoting biDc
Took half profit and tightened stop when FTA was reached. Will see how this continue to play out.

Another trade I took this morning

Edit**BEOB not BUOB
Yeah that Gu Weekly level is acting pretty strong

The UsdJpy BEOB has a pretty weak Close . . .meaning, if that 4 Hour BEOB closed below those previous Daily and Weekly Highs it would have been alot stronger. . .because now you have those previous Highs working against you instead of with you . .like my drawn BEOB . .
Attached Image (click to enlarge)
Click to Enlarge Name: jpy15ibfx.jpg Size: 128 KB
Indicators show the past. Price Action "Indicates" the future.
  • #107,434
  • Feb 15, 2012 3:08pm Feb 15, 2012 3:08pm
Quoting jarroo
Yeah that Gu Weekly level is acting pretty strong

The UsdJpy BEOB has a pretty weak Close . . .meaning, if that 4 Hour BEOB closed below those previous Daily and Weekly Highs it would have been alot stronger. . .because now you have those previous Highs working against you instead of with you . .like my drawn BEOB . .
Very important here guys. Trade away from major areas. They make it much easier to manage.

With Jarroo on this one

Best
Mike
  • #107,435
  • Feb 15, 2012 3:18pm Feb 15, 2012 3:18pm
Quoting fxkaka
Thanks Jim, I am trying to train myself on that. I got many times punishment to be impatient. Now I will focus on that carefully.

Thanks again for your help and kindness.
fxKayKay.
We all have been there KayKay . .keep at it, brother . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,436
  • Feb 15, 2012 3:22pm Feb 15, 2012 3:22pm
Quoting mbqb11
Very important here guys. Trade away from major areas. They make it much easier to manage.

With Jarroo on this one

Best
Mike

Just like water . .traveling to areas of least resistance.

"Be water my friend." Bruce Lee


Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #107,437
  • Feb 15, 2012 3:27pm Feb 15, 2012 3:27pm
has anyone got a chart of Apple ?

it traded a high of 526 and crashed back down to 497.67 below 500. to my mind its formed a pin-bar off an important price level of 500.

but i do not have a chart to confirm! please - anybody?
  • #107,438
  • Feb 15, 2012 3:37pm Feb 15, 2012 3:37pm
Quoting jarroo
Just like water . .traveling to areas of least resistance.

"Be water my friend." Bruce Lee


http://www.youtube.com/watch?v=USlnfTGlhXc
I like
  • #107,439
  • Feb 15, 2012 3:38pm Feb 15, 2012 3:38pm
Quoting fascist
has anyone got a chart of Apple ?

it traded a high of 526 and crashed back down to 497.67 below 500. to my mind its formed a pin-bar off an important price level of 500.

but i do not have a chart to confirm! please - anybody?
here ya go F

It formed a beob today
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  • #107,440
  • Feb 15, 2012 3:39pm Feb 15, 2012 3:39pm
Quoting mbqb11
I like
I always loved that line . . lol . .
Indicators show the past. Price Action "Indicates" the future.
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