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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

  • #109,101
  • Mar 21, 2012 11:37am Mar 21, 2012 11:37am
Quoting mbqb11
price is winding up here, time to start watching this potential pattern closer

i LOVE consolidating markets. Not cause I like to trade IN them much, but outside of them. But if we do choose to trade inside them we have a wealth of information if we understand the market we are trading.
updated charts

keep things simple guys, don't be fooled into making this more then what it is. Learn the concepts James teaches, and practice the hell out of them. It's amazing what time and practice allows us to do with trading.
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  • #109,102
  • Mar 21, 2012 11:40am Mar 21, 2012 11:40am
Quoting mbqb11
one that is more close to the area to watch.

Simple lines we want to use. They always tell the strongest story
updated chart.

This one broke long so it was an easy pass for me since the break up had less information. But again same concept as above. What was the bar that tipped us off out of this consolidation once again?

Literally a couple lines speaks volumes on a good chart
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  • #109,103
  • Mar 21, 2012 11:46am Mar 21, 2012 11:46am
Quoting human2
Thanks Ifmyante. Still trying to grasp the concept of CP. RS is fine. Never heard WRB discussed before. If the WRB is that influential (I presume it is the one stretching from the 38 fib to the 50 fib and also presume that it is strongly bullish) would this not hint at more upside still to come and to wait until the 88s to look for shorts?
Thanks.
Hugh.
ps my lips are sealed
Here's a response on the chart.

Mike may well be right.

This thread has done fine so far on just the very basics, so perhaps I should stop bringing in other material.

Best to all

If
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  • #109,104
  • Mar 21, 2012 11:50am Mar 21, 2012 11:50am
Quoting Rust
---Hello Rust

I ask about entries on lower tfs because i like to trade on 4Hr, and on daily patterns i look for entries on 4Hr. I think this is wrong because most of the time price come back at the lower tf entry and then it runs.

Not wrong at all . If you have a concept and an idea what you want to see it could give you an earlier entry , bigger position size and an entry at all (if higher timeframe doesn't show PA or what is your confirmation) . Many times the reaction you want will be presented both on H4 and daily .

I understand...
Hello Rust

Thank you very much for your time, right now its clear like clear water. Size of pa confirmation on lower tfs pa's confirmations is what i need to have in mind.

At first i didnt understood what you meant for visual, now i see. I try to zoom on lower tfs too, but the size of the pa is important, to look and trade the pitbul pa's for confirmation.

I think it happens to everybody, but when you learn something, then you think it was obvious, but you didnt know that.

Thank you for that piece of knowledge Rust. It really fits in what i try to do.

Eur Gbp is trying (or i wish) to make a beob on daily, maybe for late entries hopefully like mine, lol

Best wishes

Hector
  • #109,105
  • Mar 21, 2012 11:56am Mar 21, 2012 11:56am
Hi Jim, tanks for the charts.
About your question, there are many alternative outside youtube, http://www.veoh.com
http://www.dailymotion.com/
http://vimeo.com/
http://www.metacafe.com/
and many many other
but i suggest you to use a free cloud/deposit service like http://www.mediafire.com/,
you dont'have to subscribe nothing, just drag and drop a video in the cloud and share the link.
Hope this can be useful, but if you have any doubt or any question about it, just ask.

Quoting james16
I am trying to figure out a way to get videos to non members without having to use you tube. Any ideas? My open positions for March are now at 3,525 pips not including my closed positions.

I say that for one reason. I havnt done anything that isnt taught here and in the group nor is it anything that any of you cant do.

I will post charts of all my positions tonight or tomorrow.

Jim
  • #109,106
  • Mar 21, 2012 12:15pm Mar 21, 2012 12:15pm
Quoting mbqb11
updated charts

keep things simple guys, don't be fooled into making this more then what it is. Learn the concepts James teaches, and practice the hell out of them. It's amazing what time and practice allows us to do with trading.
Hey Mike,

V nice charts as always

What do you think of gold winding up?

Favour a move up, with the trend.

Would love to hear your analysis.

Also I have another question. Do you look to the commodities prices when placing trades on cad, aud, jpy, as they are heavy correlated. Could it weed out some false trades?
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  • #109,107
  • Mar 21, 2012 12:18pm Mar 21, 2012 12:18pm
Quoting heebbyjeeby
Hey Mike,

V nice charts as always

What do you think of gold winding up?

Favour a move up, with the trend.

Would love to hear your analysis.

Also I have another question. Do you look to the commodities prices when placing trades on cad, aud, jpy, as they are heavy correlated. Could it weed out some false trades?
Hey Heeb

For me that's not enough of a structured pattern with enough confluence to get my attention. The descending TL is also very steep for me too making breakouts different.

I would be more interested in the bigger consolidation(so that's why we are having smaller pockets of consolidation now too).


I do not look to commodities for my other trading, I'm too lazy my friend

best
Mike
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  • #109,108
  • Mar 21, 2012 12:21pm Mar 21, 2012 12:21pm
Quoting mbqb11
Hey Heeb

For me that's not enough of a structured pattern with enough confluence to get my attention. The descending TL is also very steep for me too making breakouts different.

I would be more interested in the bigger consolidation(so that's why we are having smaller pockets of consolidation now too).


I do not look to commodities for my other trading, I'm too lazy my friend

best
Mike
I always learn so much from any of your words

You are one of the greats friend.
  • #109,109
  • Mar 21, 2012 2:56pm Mar 21, 2012 2:56pm
Looking to buy, but waiting for the bar to close. Good pivot point 1.44. price respecting the 365EMA and upwards trendline AND a good size pinbar(wait for close).

Is there anything I'm missing?
Maybe the BRN 1.45 is a bit too close
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  • #109,110
  • Mar 21, 2012 2:57pm Mar 21, 2012 2:57pm
Quoting PinWing
Hello Rust

Thank you very much for your time, right now its clear like clear water. Size of pa confirmation on lower tfs pa's confirmations is what i need to have in mind.

At first i didnt understood what you meant for visual, now i see. I try to zoom on lower tfs too, but the size of the pa is important, to look and trade the pitbul pa's for confirmation.

I think it happens to everybody, but when you learn something, then you think it was obvious, but you didnt know that.

Thank you for that piece of knowledge Rust. It really fits in what i...
You are welcome friend
I highly recommend to watch Mike's webinars . There are plenty of them , so it's a work to do , but nothing worth more if you like that kind of trading .
  • #109,111
  • Mar 21, 2012 3:02pm Mar 21, 2012 3:02pm
Hey heebbyjeeby and Mike ,
I would like to throw one more GOLD chart if you don't mind
My view :
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  • #109,112
  • Mar 21, 2012 3:04pm Mar 21, 2012 3:04pm
Quoting mbqb11
updated charts

keep things simple guys, don't be fooled into making this more then what it is. Learn the concepts James teaches, and practice the hell out of them. It's amazing what time and practice allows us to do with trading.
Hey Mike ,
what about this upper trendline was just 2 touches ? I am with the impression that you like more confirmation ? Am i right ?
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  • #109,113
  • Mar 21, 2012 3:10pm Mar 21, 2012 3:10pm
I don't know what black magic is over me guys . Lately all setups i am watching break with no bar confirmation , so i don't find and entry point and then they run pretty well . I will go crazy soon

Like this one from today :
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  • #109,114
  • Mar 21, 2012 4:14pm Mar 21, 2012 4:14pm
Quoting Rust
Hey Mike ,
what about this upper trendline was just 2 touches ? I am with the impression that you like more confirmation ? Am i right ?
Hey Rust

It doesn't always have to be 3 perfect touches, that's just a way for you guys to pay more attention to things. In this case you can see price "stall" out right near the BRN before the breakout. This is more then fine for me, I was just looking for a stronger close.

This was a very very valid setup, just sometimes one thing can be a bit off and I pass and wait for the next one.

Best
Mike
  • #109,115
  • Mar 21, 2012 4:20pm Mar 21, 2012 4:20pm
Quoting mbqb11
Hey Rust

It doesn't always have to be 3 perfect touches, that's just a way for you guys to pay more attention to things. In this case you can see price "stall" out right near the BRN before the breakout. This is more then fine for me, I was just looking for a stronger close.

This was a very very valid setup, just sometimes one thing can be a bit off and I pass and wait for the next one.

Best
Mike
I see . Thanks for explanation
  • #109,116
  • Mar 21, 2012 4:34pm Mar 21, 2012 4:34pm
Any ideas/comments on Daily E/A pin? Looking to be a beauty. Too small tho?


http://i41.tinypic.com/20jh0n5.png
  • #109,117
  • Mar 21, 2012 4:35pm Mar 21, 2012 4:35pm
Quoting fxterrapin
Any ideas/comments on Daily E/A pin? Looking to be a beauty. Too small tho?


http://i41.tinypic.com/20jh0n5.png
Hey FxT

Check out this post and see if you can guess my answer
http://www.forexfactory.com/showthre...94#post5494494


Best
Mike
  • #109,118
  • Mar 21, 2012 4:49pm Mar 21, 2012 4:49pm
Mike
Good evening

There are aitoti on most Japanese pairs

U/j/j g/chf j e/j

But all of them against a large trend

What do you think?

Thank you very much



Sorry for my bad English
  • #109,119
  • Mar 21, 2012 5:02pm Mar 21, 2012 5:02pm
Quoting Yehuda Sh
Mike
Good evening

There are aitoti on most Japanese pairs

U/j/j g/chf j e/j

But all of them against a large trend

What do you think?

Thank you very much



Sorry for my bad English


Hey Yeudha

I agree xxx/jpy pairs are looking heavy. We have some beobs up at swing highs. Not the greatest size vs the strong trend as you said. For me it's not quite enough. Example eur/jpy I would want to close under the 110 mark. I am following a bunch on some lower timeframes stuff. I think the potentials are a bit better with a better story, but we could see a decent retracement now

Best
Mike
  • #109,120
  • Mar 21, 2012 5:46pm Mar 21, 2012 5:46pm
area im watching, this is all happening at a swing low which is why im paying close attention, first 2 bars created a 2day pb, but i didnt enter because close wasnt high enough, but now yodays bar also closing the way it has, im again watching this unfold at this swing low.
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