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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

  • #107,901
  • Feb 24, 2012 9:33am Feb 24, 2012 9:33am
sorry but what is this buoc???
  • #107,902
  • Feb 24, 2012 9:37am Feb 24, 2012 9:37am
Quoting extremerrage
sorry but what is this buoc???
i think ceaser just meant BUOB
  • #107,903
  • Feb 24, 2012 9:58am Feb 24, 2012 9:58am
Hi, Mike! What do you think might be enough franc to fall!? Maybe 50% said it is time to continue to strengthen the franc!? I saw you was on a long position usd\chf. Are you closed it?

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  • #107,904
  • Feb 24, 2012 10:13am Feb 24, 2012 10:13am
Quoting extremerrage
sorry but what is this buoc???
B - bar
C - candle

The same.
Someone already used it here.
Follow my trading on Twitter and FB: @pumlitch
  • #107,905
  • Feb 24, 2012 10:17am Feb 24, 2012 10:17am
Quoting brzvadeg
Hi, Mike! What do you think might be enough franc to fall!? Maybe 50% said it is time to continue to strengthen the franc!? I saw you was on a long position usdchf. Are you closed it?

Attachment
Hey B

We could be getting some more strength out on the chf. I am still holding my usd/chf long . I will be watching how we close this month to decide if I should lock in some more profit. For now in terms of my long position I am just in wait mode

Best
Mike
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  • #107,906
  • Feb 24, 2012 10:21am Feb 24, 2012 10:21am
Quoting Chanya
Hi Sir James ,

How are you ? I have been following your charts from a long long time now , I understand everything you try to teach through them BUT one thing that I dont understand is , How you draw those trend lines ???
I thought trend lines are supposed to be drawn joining highs or lows and some , but rarely , draw them on closing prices !!! YOUR trend lines some times touches highs , sometimes lows ETC .
Hi Chanya,

Which trendlines are you talking about?

Do you mean, "Sir James, when is it useful and profitable to curve fit trendlines and how far can you go before it becomes superfluous?" or "are there specific strategies for drawing useful trendlines"
  • #107,907
  • Feb 24, 2012 10:31am Feb 24, 2012 10:31am
Quoting extremerrage
sorry but what is this buoc???
Bullish outside Candle
  • #107,908
  • Feb 24, 2012 10:43am Feb 24, 2012 10:43am
Quoting mbqb11
Hey B

We could be getting some more strength out on the chf. I am still holding my usd/chf long . I will be watching how we close this month to decide if I should lock in some more profit. For now in terms of my long position I am just in wait mode

Best
Mike
Thank you for your reply. How about adding to the position, you use them?
  • #107,909
  • Feb 24, 2012 10:44am Feb 24, 2012 10:44am
I don't know if anyone has done this before or not, but I'd like to contribute to this great thread. Attached below a complete 362 organized charts posted by the man himself in this thread since the beginning up to date. I hope it helps.

Thanks James, Mike, jarroo, raczekfx and all the other great members.

Happy trading.

Cheers,
Attached File(s)
File Type: rar james16 charts - part_1.rar   2.4 MB | 1,810 downloads
File Type: rar james16 charts - part_2.rar   3.6 MB | 1,537 downloads
File Type: rar james16 charts - part_3.rar   3.8 MB | 1,559 downloads
File Type: rar james16 charts - part_4.rar   3.4 MB | 1,607 downloads
File Type: rar james16 charts - part_5.rar   4.0 MB | 1,865 downloads
Sniffing Snake's Tracks...
  • #107,910
  • Feb 24, 2012 10:52am Feb 24, 2012 10:52am
eur/cad is making me happy. as expected. took out 1.34, now we have this as potential solid support. 300 pips locked in so far!

usd/jpy very low risk high probability trade! 42 pips locked so far and judging by the D1 action it might go for more!
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  • #107,911
  • Feb 24, 2012 11:01am Feb 24, 2012 11:01am
Quoting FX.Sniffer
I don't know if anyone has done this before or not, but I'd like to contribute to this great thread. Attached below a complete 362 organized charts posted by the man himself in this thread since the beginning up to date. I hope it helps.

Thanks James, Mike, jarroo, raczekfx and all the other great members.

Happy trading.

Cheers,

FXSniffer... You outrun me Thanks man good work. Inspirational paintings Jim
all is eternal - this is good news for people who loves bad news
  • #107,912
  • Feb 24, 2012 11:05am Feb 24, 2012 11:05am
I am late to the EURJPY ... but will try to jump in it next week.
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all is eternal - this is good news for people who loves bad news
  • #107,913
  • Feb 24, 2012 11:15am Feb 24, 2012 11:15am
.

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Hero calls followed by margin calls...
  • #107,914
  • Feb 24, 2012 11:19am Feb 24, 2012 11:19am
Quoting Caesar95
Hi Mike,

I just took profit on this trade but I'll like to seek your opinion on your whether I trade right. I could be wrong and this may just be luck.

I saw what I thought to be a BUOC bar on a confluence of trendline, 38.2 fib, 100 ema and a support area around 84.37.

I marked an area in blue rectangle on what I thought was a "FTA"

Did I made any mistakes on my judgement here?

Seek your comments here.

Caesar
I wish for Xmass all my trades to be like this

Don't know about you guys , but I am switching to weekend mood
  • #107,915
  • Feb 24, 2012 11:22am Feb 24, 2012 11:22am
Quoting FX.Sniffer
I don't know if anyone has done this before or not, but I'd like to contribute to this great thread. Attached below a complete 362 organized charts posted by the man himself in this thread since the beginning up to date. I hope it helps.

Thanks James, Mike, jarroo, raczekfx and all the other great members.

Happy trading.

Cheers,
That's worth a round of
  • #107,916
  • Feb 24, 2012 11:32am Feb 24, 2012 11:32am
Quoting brzvadeg
Thank you for your reply. How about adding to the position, you use them?
Hey B

I only will add to my position if another setup comes up that I would take irrelevant to any other position. So if I am long here based on the weekly and a setup comes on the daily/weekly/4hr I will take it and that's considered "adding" but I treat that trade as its own separate trade so it's not adding like most people speak about it. It's just another trade for me in that case

Have a great weekend
Mike
  • #107,917
  • Feb 24, 2012 11:34am Feb 24, 2012 11:34am
Quoting mbqb11
Hey B

I only will add to my position if another setup comes up that I would take irrelevant to any other position. So if I am long here based on the weekly and a setup comes on the daily/weekly/4hr I will take it and that's considered "adding" but I treat that trade as its own separate trade so it's not adding like most people speak about it. It's just another trade for me in that case

Have a great weekend
Mike
very true and responsible
Hero calls followed by margin calls...
  • #107,918
  • Feb 24, 2012 11:37am Feb 24, 2012 11:37am
Quoting mbqb11
Hey B

I only will add to my position if another setup comes up that I would take irrelevant to any other position. So if I am long here based on the weekly and a setup comes on the daily/weekly/4hr I will take it and that's considered "adding" but I treat that trade as its own separate trade so it's not adding like most people speak about it. It's just another trade for me in that case

Have a great weekend
Mike
Thought about it and agreed!
  • #107,919
  • Feb 24, 2012 11:50am Feb 24, 2012 11:50am
Hey guys,

I just thought I'd make this post to firstly thank all the wonderful people who contribute to this great thread, and secondly to all people who are starting off and keep losing, and having trades completely go against them.
Im going to take the gbpnzd trade I 100% would have taken in the past.

http://my.jetscreenshot.com/11256/m_...-all2-95kb.jpg

I would have taken the tap to the line, looking for the short, with a 25 pip sl. And, would have been stopped out.
But, because of Mike, and James, and Jaroo, and everyone else Im leaving out, I looked for the story. I saw the charge up to the line, with no real faltering, and expected this break through. I looked for the resistance above, expecting it to reach this. So I didn't take it. And thats fine. It may mean I lose a trade here and there, but I would far rather miss a trade than keep having losing ones. And I think this is what we're after. The A+ trade. Where everything lines up, and behaves how we expected. No surprises!

I know now (I think) how to trade these. PA, and the story. Thats it. Look at the PA at these set-ups. Its all great identifying these great possible set-ups, but then I'd take the trade straight away when it returned a flip zone, or a tl. Now I look for the story, how it behaves around these levels, wait for my beliefs to be validated, and enter the trade. Im not there yet, but I feel I've made a break through. I was killing myself, trade after trade, getting stopped out, when I was convinced price should have bounced, or taken off.

If I am wrong at all, please tell me, and I'll delete this. But I really just wanted to share this with everyone on this thread. Now, lets start making real pips!
  • #107,920
  • Feb 24, 2012 12:34pm Feb 24, 2012 12:34pm


http://my.jetscreenshot.com/11256/m_...-7mgi-91kb.jpg


This was not an A+ trade, but I felt I had enough reasons to try it.
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