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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

  • #108,221
  • Feb 29, 2012 2:19pm Feb 29, 2012 2:19pm
Quoting mbqb11
with February coming to an end, I have gone ahead and locked more profit in under the 9000 BRN and the last little swing low we made today.


Was hoping to hold this for a full year lol, but it's time to lock in some more profit
A nice buob today on swissy mike. Would you add to your position?
  • #108,222
  • Feb 29, 2012 2:22pm Feb 29, 2012 2:22pm
Quoting heebbyjeeby
A nice buob today on swissy mike. Would you add to your position?

I have looked again, and seen a possible trouble point. 30 pips to a potential PPZ. No trade for me.

http://my.jetscreenshot.com/11256/m_...-rbrq-91kb.jpg
  • #108,223
  • Feb 29, 2012 2:30pm Feb 29, 2012 2:30pm
Quoting meshka
last one. sorry for spamming
Keep spamming, I enjoy your charts
  • #108,224
  • Feb 29, 2012 2:30pm Feb 29, 2012 2:30pm
Hi Mike,

Please I need your opinion on EUR/USD which formed a BEOB at a swing high. My thinking is that its a good bar size compared to the prior bullish bars but its trading into a support/ppz at 1.32847.

Would you sell a retrace around 1.33647 with tight money management or would this be a pass for you.

Thanks for everything.

Ralph
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 25 KB
SNR with Price Action...
BitCrossNG Return Today: na
  • #108,225
  • Feb 29, 2012 2:37pm Feb 29, 2012 2:37pm
Quoting heebbyjeeby
A nice buob today on swissy mike. Would you add to your position?
Hey Heebby

This wouldn't qualify as a setup I would take on its own so I would not.

I wrote a bit about my thoughts of adding on(for my method)
http://www.forexfactory.com/showthre...48#post5418148

Best
Mike
  • #108,226
  • Feb 29, 2012 2:38pm Feb 29, 2012 2:38pm
Quoting mbqb11
Hey Heebby

This wouldn't qualify as a setup I would take on its own so I would not.

I wrote a bit about my thoughts of adding on(for my method)
http://www.forexfactory.com/showthre...48#post5418148

Best
Mike
Thanks again mike, you are a gentleman
  • #108,227
  • Feb 29, 2012 2:39pm Feb 29, 2012 2:39pm
NZD/USD and AUD/USD forming BEOBs. Sadly though in a box. Probability of hitting bottom of box is high tho.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 38 KB
Click to Enlarge Name: audusd.gif Size: 25 KB
SNR with Price Action...
BitCrossNG Return Today: na
  • #108,228
  • Feb 29, 2012 2:43pm Feb 29, 2012 2:43pm
Quoting Fxnumen
Hi Mike,

Please I need your opinion on EUR/USD which formed a BEOB at a swing high. My thinking is that its a good bar size compared to the prior bullish bars but its trading into a support/ppz at 1.32847.

Would you sell a retrace around 1.33647 with tight money management or would this be a pass for you.

Thanks for everything.

Ralph
Hey Ralph

I think your analysis is just fine. Personally I look for some other things myself but that certainly doesn't invalidate other setups like this. I would be watching the same areas you have marked. A retrace back to the lows/close/opens is perfectly logical too.

I would have liked to see us take out the BRN and close down udner the highs around 1.3288(which are the FTA you marked)

You have all the information very good. Just a matter if and how you want to play it.

Best
Mike
  • #108,229
  • Feb 29, 2012 2:44pm Feb 29, 2012 2:44pm
Quoting heebbyjeeby
Thanks again mike, you are a gentleman
thanks Heebby

That makes you and my mother who think that now. +2

  • #108,230
  • Feb 29, 2012 2:52pm Feb 29, 2012 2:52pm
Quoting mbqb11
thanks Heebby

That makes you and my mother who think that now. +2

AAHH Actually it's +3 , I am here too thinking the same thing !
Human
  • #108,231
  • Feb 29, 2012 2:53pm Feb 29, 2012 2:53pm
Quoting mbqb11
Hey Ralph

I think your analysis is just fine. Personally I look for some other things myself but that certainly doesn't invalidate other setups like this. I would be watching the same areas you have marked. A retrace back to the lows/close/opens is perfectly logical too.

I would have liked to see us take out the BRN and close down under the highs around 1.3288(which are the FTA you marked)

You have all the information very good. Just a matter if and how you want to play it.

Best
Mike

Thanks Mike for the prompt reply. Also grateful for the BRN reminder and how it would have increased the odds of this setup. Will be watching this one keenly.

Dunno what Bernanke said at 3:00PM GMT that got the USD pairs going Haywire.

Anyways, thanks for your input. Much appreciated.

Ralph
SNR with Price Action...
BitCrossNG Return Today: na
  • #108,232
  • Feb 29, 2012 2:55pm Feb 29, 2012 2:55pm
Mike , Can you tell me what do you think abt CHF JPY ??? ALL with the BRN 90.00 fake out on daily and hourly Triangle ??
Human
  • #108,233
  • Feb 29, 2012 2:58pm Feb 29, 2012 2:58pm
Quoting mbqb11
thanks Heebby

That makes you and my mother who think that now. +2

+3 Mike. This is my first post in this thread, I've never written before 'cause I don't feel I need to write anything: I'm already enjoying more than I could wish for in this thread, simply by reading your posts and wise responses. Count me in my friend.
  • #108,234
  • Feb 29, 2012 3:01pm Feb 29, 2012 3:01pm
Quoting Chanya
Mike , Can you tell me what do you think abt CHF JPY ??? ALL with the BRN 90.00 fake out on daily and hourly Triangle ??
I think you have it nailed Chanya

I would be watching the same thing coming into the next major session tomorrow.

With breakouts I always prefer with the trend(up in this case), but with the BRN there it gives us more options to watch both ways.

Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 14 KB
  • #108,235
  • Feb 29, 2012 3:06pm Feb 29, 2012 3:06pm
Interesting goings on on EURJPY.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 295_eurjpy h4.jpg Size: 66 KB
Click to Enlarge Name: 296_eurjpy d1.jpg Size: 72 KB
  • #108,236
  • Feb 29, 2012 3:41pm Feb 29, 2012 3:41pm
Quoting Tak
+3 Mike. This is my first post in this thread, I've never written before 'cause I don't feel I need to write anything: I'm already enjoying more than I could wish for in this thread, simply by reading your posts and wise responses. Count me in my friend.
hahah thanks Tak

You should post more!

Thanks for the nice words just following the example set by the big guy
Mike
  • #108,237
  • Feb 29, 2012 3:42pm Feb 29, 2012 3:42pm
Quoting 5.25
Interesting goings on on EURJPY.
looking like they are ready for the next 'Pop'

Nice charts T


Mike
  • #108,238
  • Feb 29, 2012 3:47pm Feb 29, 2012 3:47pm
Quoting mbqb11
looking like they are ready for the next 'Pop'
The questions is, which way!? I'll let PA lead the way.

Do you happen to have a bias?

T
  • #108,239
  • Feb 29, 2012 3:48pm Feb 29, 2012 3:48pm
As many of you know over 80% of my trades from this past month gone have been range/box plays just like this AUDUSD situation we have today, so i will be watching this one closely.

Sometimes the simplicity of price rejecting at top of box and closing within box, then going to other side of box is the easiest type of trading once recognised correctly.
  • #108,240
  • Feb 29, 2012 4:03pm Feb 29, 2012 4:03pm
Quoting 5.25
The questions is, which way!? I'll let PA lead the way.

Do you happen to have a bias?

T
My bias with breakouts is always with the trend, unless we have more information then often I will watch either way(for example if they occur around at nice PPZ)

Best
Mike
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