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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

  • #108,241
  • Feb 29, 2012 7:02pm Feb 29, 2012 7:02pm
Quoting zamfir
Mike is absolutely right. there are not many pips on lower TF and you will surely have to overtrade in lower TF to make pips. This in my opinion is gambling..

lower TF + over trading + small account size = gambling

higher TF + big account = trading



Totally disagree with the above in red.

Imagine how much a 10 or 20 pip move is worth to someone with a hundred thousand dollar account, risking 2 percent.
  • #108,242
  • Feb 29, 2012 7:13pm Feb 29, 2012 7:13pm
Mike knows what I was talking about, so, I shall ignore the rest.

I shall post no more m15 or M30 charts, nothing less than H4.
  • #108,243
  • Feb 29, 2012 8:05pm Feb 29, 2012 8:05pm
Hi Mike,
Is this setup what u wld call multi bar low breakout? How wld u rate this setup & wld u play it on breakout or wait for retrace to the bars' low?
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  • #108,244
  • Feb 29, 2012 8:08pm Feb 29, 2012 8:08pm
Quoting Fx7877
Hi Mike,
Is this setup what u wld call multi bar low breakout? How wld u rate this setup & wld u play it on breakout or wait for retrace to the bars' low?
whoa FX do you have a video camera in my room

I was just looking at this chart and marking it up.

It's not quite a good enough multi bar breakout for me since the lows are slightly rising. I also prefer them at nice swing points into space.

BUT, this is a great area to watch. Price closed strongly over a very strong support area. I am watching this area closely


Best
Mike
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  • #108,245
  • Feb 29, 2012 8:18pm Feb 29, 2012 8:18pm
Quoting Pinbar
Mike knows what I was talking about, so, I shall ignore the rest.

I shall post no more m15 or M30 charts, nothing less than H4.
Please do not change anything about the way you are posting if possible. The 15min or 30 min charts you posted were PA off major Higher Time frame Levels which falls exactly in accordance with this thread and I for one find them very valuable to study. If people don't understand or find they don't fit in there trading plan then they can skip over them)
  • #108,246
  • Feb 29, 2012 8:28pm Feb 29, 2012 8:28pm
Quoting equivestor12
Please do not change anything about the way you are posting if possible. The 15min or 30 min charts you posted were PA off major Higher Time frame Levels which falls exactly in accordance with this thread and I for one find them very valuable to study. If people don't understand or find they don't fit in there trading plan then they can skip over them)

Well, this appears to not be the case, as is evident from the long list of complainers.

Mike is right, we should keep this thread to the higher TF, anyone who wants to work on the lower than H4 tf, can join the PF and study it there.


Sorry but, no more lower TF posts from me.
  • #108,247
  • Feb 29, 2012 8:31pm Feb 29, 2012 8:31pm
Quoting Pinbar
Well, this appears to not be the case, as is evident from the long list of complainers.

Mike is right, we should keep this thread to the higher TF, anyone who wants to work on the lower than H4 tf, can join the PF and study it there.


Sorry but, no more lower TF posts from me.
Pin no one was saying it was wrong or complaining. They were saying what works for them and they recommend. I think you took it personal

I post lower timeframes here too. Like I said in the last time this came up, we just want to be vigilant in reminding the new traders what James said here in post 1



_____________


I see there is a debate about this. ive asked several people opinions and this was mikes.

" I think there is just no way to keep things "clean" in a huge public thread like yours. So you are going to have everyone's different viewpoints/methods all at the same time. Since they are all based off the same concepts I don't have anything wrong with it, we just have to be diligent in reminding the newbies the proper precautions and steps to take."

I agree with mike but im concerned nontheless.

We all know the basic material can truly help new people find some early success and we all know how critical that phase is.

I have zero problems with variations based off of the basic material but we must always make sure that new people understand what is best for them early on.

To do that I need the variation people to openly be willing to tell new people that demoing there variation is fine but they should concentrate on the basic material.

Obviously what we do here is simple but I DO NOT want new people coming out of the gate taking blind touch trades THINKING THAT IS WHAT THE THREAD WAS DESIGNED TO TEACH. NO NO NO.

You touch traders etc have fun and do your thing but help me keep the new people out of trouble.

I will put this in post 1 for reference.

Thanks to all of you regardless of what approach you take for keeping the thread a nice place for all traders.

THAT IS WHAT IS TRULY IMPORTANT TO ME.
  • #108,248
  • Feb 29, 2012 8:33pm Feb 29, 2012 8:33pm
Nice looking Pin bar on the daily (at first glance). What I like about it:

1) bounced nicely of the TL starting back in 2007
2) decent size

What I don't like about it:

1) works against bullish weekly Pin
2) would have liked the close to be lower (compared to PPZ)
3) FTA very close

In any case would love to hear feedback from the senior members.
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  • #108,249
  • Feb 29, 2012 8:36pm Feb 29, 2012 8:36pm
Quoting mbqb11
whoa FX do you have a video camera in my room

I was just looking at this chart and marking it up.

It's not quite a good enough multi bar breakout for me since the lows are slightly rising. I also prefer them at nice swing points into space.

BUT, this is a great area to watch. Price closed strongly over a very strong support area. I am watching this area closely


Best
Mike
Haha Mike, I wish! Thanks for pointing out the slightly rising lows, didn't notice them. But I don't quite get what u mean by "prefer them at nice swing points into space"? I thought there is quite some space for down move and its at swing pt high, no?

Edit: And u r watching that area closely for retrace and PA to take action?
  • #108,250
  • Feb 29, 2012 8:37pm Feb 29, 2012 8:37pm
Quoting Fx7877
Haha Mike, I wish! Thanks for pointing out the slightly rising lows, didn't notice them. But I don't quite get what u mean by "prefer them at nice swing points into space"? I thought there is quite some space for down move and its at swing pt high, no?
Hey FX

I mean with the multi bar lows. I want to trade them where they have created a swing point. So in this case those lows are up at a swing high. If those lows were at the bottom creating a swing low where price then moved away from, that is much stronger for me.

Best
Mike
  • #108,251
  • Feb 29, 2012 9:05pm Feb 29, 2012 9:05pm
Quoting mbqb11
Hey FX

I mean with the multi bar lows. I want to trade them where they have created a swing point. So in this case those lows are up at a swing high. If those lows were at the bottom creating a swing low where price then moved away from, that is much stronger for me.

Best
Mike
Aha, got it, thks! Earlier, u mentioned watching that area closely. Are u watching for retrace and PA to take action?

http://www.forexfactory.com/images/m...ading_dark.gif

  • #108,252
  • Feb 29, 2012 9:32pm Feb 29, 2012 9:32pm
Quoting hometrading
Nice looking Pin bar on the daily (at first glance). What I like about it:

1) bounced nicely of the TL starting back in 2007
2) decent size

What I don't like about it:

1) works against bullish weekly Pin
2) would have liked the close to be lower (compared to PPZ)
3) FTA very close

In any case would love to hear feedback from the senior members.
Well you can also add in that the pb is too small relative to the trend
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #108,253
  • Edited 11:29pm Feb 29, 2012 11:13pm | Edited 11:29pm
Quoting hometrading
Nice looking Pin bar on the daily (at first glance). What I like about it:

1) bounced nicely of the TL starting back in 2007
2) decent size

What I don't like about it:

1) works against bullish weekly Pin
2) would have liked the close to be lower (compared to PPZ)
3) FTA very close

In any case would love to hear feedback from the senior members.
Not a senior member, but I have been waiting for this setup all week, before it ever even really moved up. A pullback off the sudden break of resistance. YAY!!! It broke through 50% retracement (1.5988) and prior resistance (1.5929) like they were nothing before pausing right at 1.6000 psych resistance and falling back down below all of this before the close. Exactly what I was hoping for. Now, hopefully, we can ride it down, wait for the reverse, and ride it all the way back up to 1.6000. If it crashes up through that, then I'll be aiming for 1.6160. I'll be watching it below 1.5850 for reversal. I think it may hold at 1.5800 if it ever gets through 1.59000. That's kinda what I'm seeing at the moment anyhow. We shall see... It could always just keep going up after what could be a minor retrace... ^_^

Edit: I also very much agree about the negatives. That nose bothers me. It's rather short. Also, for it to make any kind of decent move, it will have to cross 2 very large EMAs: 365 and 150. :o/ But I'll probably go short and babysit it when it gets close to the hard points to cross. Psych resist, EMA's,etc.
Currency is a joke. And that's precisely why I trade it.
  • #108,254
  • Mar 1, 2012 12:08am Mar 1, 2012 12:08am
The story continues, the expected bounce of the .84 level didn't happen, glad it happened whilst I was sleeping - so I wasn't tempted to get in.

Anyway looking now for trade in other direction (south) when it comes up to .84. Interesting again, the break through bar stopped at FTA.
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  • #108,255
  • Mar 1, 2012 1:20am Mar 1, 2012 1:20am
Hi Hometrading,

Am watching that level too. Thought it was gonna act as support when PBT & CA. I guess the momentum of the bear candle when PBT & CB was great like your chart showed...

Below is my take on H4...We have 365ema, 0.84BRN(which is also a PPZ) just above price.

Hopefully we'll get a PA signal at the marked area.

Ralph
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SNR with Price Action...
BitCrossNG Return Today: na
  • #108,256
  • Mar 1, 2012 1:52am Mar 1, 2012 1:52am
Quoting Fxnumen
Hi Hometrading,


Below is my take on H4...We have 365ema, 0.84BRN(which is also a PPZ) just above price.

Hopefully we'll get a PA signal at the marked area.

Ralph
Should be a no brainer, all we need now is the market behaving
  • #108,257
  • Mar 1, 2012 3:49am Mar 1, 2012 3:49am
I would like to know if it is important when your broker closes the daily candles or not?

I mean, are the signals more valid if you use a 5 day NY close candles then 6 day GMT close candles?
Thoughts are things
  • #108,258
  • Mar 1, 2012 3:50am Mar 1, 2012 3:50am
Hopefully we'll get Mike's "Preemptive Break"
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SNR with Price Action...
BitCrossNG Return Today: na
  • #108,259
  • Mar 1, 2012 4:02am Mar 1, 2012 4:02am
Hi Mike!

You may be able to offer some advice on this. I find myself flicking through my 37 charts every 15 minutes or so to see the latest action. I'm not concerned about my analysis but just thinking there may be a more efficient way to do it.

I do have a watchlist for the most important markets of the day, but still feel the need to look at those other charts.

I was wondering how you go about your day. What charts you look at throughout the day as in, only those at important areas or maybe you check all of them, and how often etc?

Cheers,
SG
  • #108,260
  • Mar 1, 2012 4:11am Mar 1, 2012 4:11am
Cock and balls formation on EURAUD. Rare formation this, and hard to trade. If the balls break down we could get 1 penis length profit.

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