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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

  • #109,401
  • Mar 26, 2012 5:54am Mar 26, 2012 5:54am
Quoting mbqb11
yes this is an easy way to view moving averages in an effective way too. I don't use them anymore because you can often see this without them. BUT they are a great tool to help guide and notice instances like this. They should be used like any other tool. Thats what James says.

Notice how they are all flattening out and laying on top of each other. This is telling us price is flat(sideways) and we can then validate that by seeing the box and utilizing the other information here(BRN, PPZ, etc). Another heads up if you use MAs (multiple...
Oh yeah, now your talking.

Stuck between two EMAs, then we get an IB and a touch.
I have been studying Patrick's entries very closely.

Yes, as a confluence tool, seems very exciting.
Funny, but when I first studied the base on the PF, it looked totally random.
Now, I know we need to use it as a confluence tool as you say and not the magic bullet.

Another part of the puzzle clicks into place.


Thanks Mike.
  • #109,402
  • Mar 26, 2012 5:55am Mar 26, 2012 5:55am
Hi Mike,
In an effort to understand the j16 method better I have picked a random chart, GBPCAD. If you have time could you please let me know if my very basic analysis is anywhere near getting there. First I look at the weekly and see that price is consolidating/boxing quiet nicely. (I note the midline of this box as PPZ?):

http://www.forexfactory.com/attachme...1&d=1332757904
Then moving on to the daily I note the same consolidation. I draw a trendline down from last November. I note the 365ema near the top of this trendline with price being near the 150ema:
http://www.forexfactory.com/attachme...1&d=1332758545
Am I looking at this the right way so far? Anything left out?
Now onto whether it is 'tradeable'. On the weekly could we sell at top of the bow and buy at the bottom assuming we have confirming price action, eg pinbar, buob beob etc? Would YOU trade this off weekly?
On the daily is the 365 too far away from the trendline to provide confluence? Would a touch trade of this trendline be ok by j16 standards? (or would you go to the H4 chart where a beob formed at the SH and actually closed below the 5850 midline).
I know this post is a bit long but I hope it is 'simple'. I am just trying to see if the j16 method is getting beaten in my little brain! If you have time to answer the questions that would be great.
Thanks
Hugh.
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  • #109,403
  • Mar 26, 2012 6:21am Mar 26, 2012 6:21am
Quoting human2
Hi Mike,
In an effort to understand the j16 method better I have picked a random chart, GBPCAD. If you have time could you please let me know if my very basic analysis is anywhere near getting there. First I look at the weekly and see that price is consolidating/boxing quiet nicely. (I note the midline of this box as PPZ?):

http://www.forexfactory.com/attachme...1&d=1332757904
Then moving on to the daily I note the same consolidation. I draw a trendline down from last November. I note the 365ema near the...
Hey Hugh

Your charts look great and your analysis is more then fine. I would be cautious playing within the box as the likelihood of price chopping around is VERY high. So taking a touch within a consolidation and then another consolidation(that trendline) is very very very tricky. Not wrong, but tricky.

I am much more interested in the major areas which to me are the outter edges of the box. Here is a chart and with the area I would be most excited to see break(the top)

Nice clean chart I like Hugh

Mike
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  • #109,404
  • Mar 26, 2012 6:49am Mar 26, 2012 6:49am
Quoting human2
Hi Mike,
In an effort to understand the j16 method better I have picked a random chart, GBPCAD. If you have time could you please let me know if my very basic analysis is anywhere near getting there. First I look at the weekly and see that price is consolidating/boxing quiet nicely. (I note the midline of this box as PPZ?):

http://www.forexfactory.com/attachme...1&d=1332757904
Then moving on to the daily I note the same consolidation. I draw a trendline down from last November. I note the 365ema near the top...
I second Mike, great job on locating that PPZ.
Weekly support above and resistance below it.

Some nice daily PA around this area.
Good job and welcome to the thread.
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  • #109,405
  • Mar 26, 2012 7:02am Mar 26, 2012 7:02am
Mike, this the kind of squeeze out you were talking about?
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  • #109,406
  • Mar 26, 2012 7:18am Mar 26, 2012 7:18am
GA has got that definite cup & handle look to it.
Also seems to line up with the daily LCS, double barrels.
Some PA at the 1.5000 would be nice.
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  • #109,407
  • Mar 26, 2012 7:22am Mar 26, 2012 7:22am
Quoting Pinbar
...
Now, I know we need to use it as a confluence tool as you say and not the magic bullet.
Today's 4hr Fiber entry was an excellent example. Confluence across multiple timeframes.
Keeping it Simple
  • #109,408
  • Edited 7:40am Mar 26, 2012 7:25am | Edited 7:40am
Quoting habeeb
Today's 4hr Fiber entry was an excellent example. Confluence across multiple timeframes.
Thanks Habeeb

I knew I remembered Patrick mentioning you in one of the many videos, I watched.
Will check it out.

Wow, nice BUEOB and its still going!

EDIT: Interesting how the 50 & 150 & 365 were fully charged up before the touch.

What confluence.


Fantastic.
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  • #109,409
  • Mar 26, 2012 7:29am Mar 26, 2012 7:29am
Wow guys .... i went through gazilion pages wasting my time . If you don't want to talk about trading , at least post bikini chicks pics ( I know Mike prefers charts , but it's ok for me )
  • #109,410
  • Mar 26, 2012 7:30am Mar 26, 2012 7:30am
Quoting habeeb
Today's 4hr Fiber entry was an excellent example. Confluence across multiple timeframes.
Habeeb , is this really you ? You alive ?
  • #109,411
  • Mar 26, 2012 7:31am Mar 26, 2012 7:31am
Quoting Rust
Wow guys .... i went through gazilion pages wasting my time . If you don't want to talk about trading , at least post bikini chicks pics ( I know Mike prefer to look chart pics , but )

What a sense of humor when we need one. LOL
  • #109,412
  • Mar 26, 2012 7:41am Mar 26, 2012 7:41am
Hi,
I do not trade 1H but this one is for xtb championships and entry was based on what I've learned here.
Regards,
Peter
P.S. I closed 80% @ 100 pips.

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  • #109,413
  • Mar 26, 2012 7:50am Mar 26, 2012 7:50am
Daily PB was a bit weak but, the EMAs also confluenced.
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  • #109,414
  • Mar 26, 2012 7:51am Mar 26, 2012 7:51am
Quoting mbqb11
how do you diffuse fighting?! With charts


Seriously though lets get back to sharing and helping, I freaking love this thread and I know this bumps are going to happen in public and appreciate those of you who try to steer it back to its intended purpose.

Let's all try to have a good and HAPPY week.


TON of questions on the usd/cad pinbar. Here is how I have been and am watching this chart. We nearly had a breakout on friday. I even had an order in but it was never picked up as we fell back into the box of consolidation. I am still...
Good morning Mike ,
I wanna ask a little question of this chart . I was looking it , but I get scared each time of this mess on the left . The major PPZ confluencing with the EMAs , too . How would you treat this , if you manage to find an entry long ?
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  • #109,415
  • Mar 26, 2012 7:56am Mar 26, 2012 7:56am
Quoting trc
Hi,
I do not trade 1H but this one is for xtb championships and entry was based on what I've learned here.
Regards,
Peter
P.S. I closed 80% @ 100 pips.

Attachment
I think you forgot the most important -
1.3200 PPZ !
Beautiful trade trc Such R:R is always impressing .
  • #109,416
  • Mar 26, 2012 8:09am Mar 26, 2012 8:09am
Quoting Rust
Good morning Mike ,
I wanna ask a little question of this chart . I was looking it , but I get scared each time of this mess on the left . The major PPZ confluencing with the EMAs , too . How would you treat this , if you manage to find an entry long ?
hey rust

Did you see this post I just made

http://www.forexfactory.com/showthre...74#post5511474

This is what I am watching for now

Best
Mike
  • #109,417
  • Mar 26, 2012 8:21am Mar 26, 2012 8:21am
Quoting mbqb11
hey rust

Did you see this post I just made

http://www.forexfactory.com/showthre...74#post5511474

This is what I am watching for now

Best
Mike
Sorry my trendline is a bit different , but i was referring this post exactly. The question states for any long trades .
  • #109,418
  • Mar 26, 2012 8:23am Mar 26, 2012 8:23am
Quoting Rust
Sorry my trendline is a bit different , but i was referring this post exactly. The question states for any long trades .
Hey Rust

Where you see the green arrows on my chart is what I am watching for. I would be watching for longs outside of the parity level. So anything in the box now is not something I will watch for. It's only at the outer level of my box and trendline running through the brn)

Best
Mike
  • #109,419
  • Mar 26, 2012 8:39am Mar 26, 2012 8:39am
Quoting Rust
I think you forgot the most important -
1.3200 PPZ !
Beautiful trade trc Such R:R is always impressing .
thanks Rust
  • #109,420
  • Mar 26, 2012 8:43am Mar 26, 2012 8:43am
Hello Everyone

H&S with beob confirming the break of the pattern

Best wishes

Hector

PS1: I liked the UCAD Pinbar, but was too greedy with my entry, had a pending order on 1,0005, missed by 7 pips

PS2: all those pages back can be removed?
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