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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

  • #111,461
  • May 8, 2012 3:31pm May 8, 2012 3:31pm
Mike
Hello

What is your opinion?



Sorry for my bad English
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  • #111,462
  • May 8, 2012 3:36pm May 8, 2012 3:36pm
its not good I feel,wait for break if your bullish is my advise ,top of trend top


Quoting Quezoy
How not, white candle clearly engulfs the red one. I drew lines.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #111,463
  • May 8, 2012 3:39pm May 8, 2012 3:39pm
Quoting Yehuda Sh
Mike
Hello

What is your opinion?



Sorry for my bad English
Hey Yehuda

Corn is a tough market to trade. Very choppy. I would be cautious even though I love the size of the bar. I marked some trouble areas should get to that FTA on a break pretty easy though then the bigger BRN of 650. It's in sort of a channel here though too which could bring us all the way back down too. Be an interesting one to watch




Best
Mike
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  • #111,464
  • May 8, 2012 3:55pm May 8, 2012 3:55pm
Quoting Chanya
I have a very important question .Any Input by anyone Is HIGHLY appreciated . Everyone will have a different view , so every input is warmly welcome . Its about PPZ .
Some of the PPZ are easy to draw and easy to use for different purposes . But Some are not . My question is , What to include while drawing PPZ ? Some would say that its a visual thing , but for me , that is not an option . The way I manage my trades and the way I take my trades , I NEED my PPZ's to be as accurate as possible . one of the reason is , I trail...
here's something i do m8. Switch to lines. these examples aren't great but you get the point... it works on any TF.
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One of these charts i didn't draw a ppz cos price is pretty much there right now.
One of these charts shows a pure 'zone' and the others have pivots which work as simple lines.
  • #111,465
  • May 8, 2012 3:57pm May 8, 2012 3:57pm
Mike
Hello

Thanks a lot for the feedback


Aud usd short buob
What is your opinion?



Sorry for my bad English
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  • #111,466
  • May 8, 2012 5:03pm May 8, 2012 5:03pm
Quoting Yehuda Sh
Mike
Hello

Thanks a lot for the feedback


Aud usd short buob
What is your opinion?



Sorry for my bad English
Hi,

IMHO and my limited knowledge this would not class as a BEOB as price did not break the high of the previous bar. Also we want BEOB at swing highs and this is currently at a swing low.

If my assessment is wrong, please someone correct me.

Regards
bud_fox
  • #111,467
  • May 8, 2012 5:06pm May 8, 2012 5:06pm
Quoting bud_fox
Hi,

IMHO and my limited knowledge this would not class as a BEOB as price did not break the high of the previous bar. Also we want BEOB at swing highs and this is currently at a swing low.

If my assessment is wrong, please someone correct me.

Regards
bud_fox
yep you got it Bud thanks, it's a bearish bar and we don't want to chase the market


Mike
  • #111,468
  • May 8, 2012 5:10pm May 8, 2012 5:10pm
Quoting mbqb11
yep you got it Bud thanks, it's a bearish bar and we don't want to chase the market


Mike
Mike,

Does a bar have to break the high and low of the previous bar to be classed as BUOB or BEOB or is it just the open and close?

Many thanks
bud_fox
  • #111,469
  • May 8, 2012 5:11pm May 8, 2012 5:11pm
Quoting bud_fox
Mike,

Does a bar have to break the high and low of the previous bar to be classed as BUOB or BEOB or is it just the open and close?

Many thanks
bud_fox
Yep the high and low of the previous bar, you had it right

So for a beob it should have a high higher than the previous high and low lower than the previous low with a close near the bottom portion.

Best
Mike
  • #111,470
  • May 8, 2012 5:15pm May 8, 2012 5:15pm
Quoting mbqb11
Yep the high and low of the previous bar, you had it right

So for a beob it should have a high higher than the previous high and low lower than the previous low with a close near the bottom portion.

Best
Mike
Many thanks for clarification.

I made a post of a recent demo trade, which I placed. I realise everyone's trading style and mentality is different but I felt confident in taking this trade.

I would appreciate your views. It's post 111429

Regards
bud_fox
  • #111,471
  • May 8, 2012 5:18pm May 8, 2012 5:18pm
Quoting bud_fox
Hi All,

I have been lurking on this forum for almost 2 years. I haven't made many posts as I have spent most of my time reading and learning. The next step in my learning is to become more active on this forum and interact by asking questions and trying to answer others questions the best that I can.

I have attached a recent demo trade, which I placed on the EURJPY Daily TF. It has worked out pretty well to date.

BEOB on 02nd May

Confluence:
PPZ @ 106.00-106.50
RN @ 106.00
150 EMA
Broken Ascending Trend Line
50% Retracement

I...
dang that looks like it could have come right off of James16 computer with that tight stop. Really good stuff Bud, it's a more complicated play there but it shows you have been reading a lot here

Best
Mike
  • #111,472
  • Edited 5:38pm May 8, 2012 5:23pm | Edited 5:38pm
Quoting mbqb11
dang that looks like it could have come right off of James16 computer with that tight stop. Really good stuff Bud, it's a more complicated play there but it shows you have been reading a lot here

Best
Mike
I have put in a lot of hard work and am determined and dedicated to succeed but it would not be possible without this thread and the hard work that you, james16, Jarroo and many many others have put in to make this thread such a wonderful place to learn.

Many many thanks and I apologise for not mentioning everyone who contributes and shares their patience and knowledge. You all know who you are. You are all a credit to yourselves and this thread.

Regards
bud_fox
  • #111,473
  • May 8, 2012 5:41pm May 8, 2012 5:41pm
I think I have seen posts by both Merlin and Jim to this effect: (paraphrasing): want to know true confidence?? draw your lines on tomorrow's blank chart and watch as the price moves to exactly to where you calculated. When that happens you will feel a confidence in your trading like you never imagined.....


Quoting Chanya
The blue are marked would be a great place to look for the price action !!! Strong PPZ , 250 Round number , fib 38.2 and a daily 365 EMA !!! Lets see .
  • #111,474
  • May 8, 2012 6:13pm May 8, 2012 6:13pm
I wonder where these will go.........
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Human
  • #111,475
  • May 8, 2012 6:26pm May 8, 2012 6:26pm
Kind of setup Mike Loves !!! BRN 1.3
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Human
  • #111,476
  • May 8, 2012 6:33pm May 8, 2012 6:33pm
Quoting Chanya
Kind of setup Mike Loves !!! BRN 1.3
Hello, I have seen the abbreviation BRN several times. Can anyone tell me what this stands for? Is there a post that explains it somewhere? Thanks!
  • #111,477
  • May 8, 2012 6:34pm May 8, 2012 6:34pm
Quoting mbarker22
Hello, I have seen the abbreviation BRN several times. Can anyone tell me what this stands for? Is there a post that explains it somewhere? Thanks!
Big round number. They are often psychological turning points reflected by price.
  • #111,478
  • May 8, 2012 6:37pm May 8, 2012 6:37pm
Quoting Ender2492
Big round number. They are often psychological turning points reflected by price.
THanks Ender

They are something I started to say but all it really is , is a round number but the bigger ones that are every 500 pips.

So for the euro that would like 1.2000, 1.2500, 1.300, 1.400 etc.

A pair like usd/jpy

80.00 85.00 90.00 etc

Plot them it's pretty cool, and a good added confluence(along with LRN large round numbers, every 100 pips of course)

Best
Mike
  • #111,479
  • May 8, 2012 6:39pm May 8, 2012 6:39pm
Big round number. They are often psychological turning points reflected by price.


Quoting mbqb11
THanks Ender

They are something I started to say but all it really is , is a round number but the bigger ones that are every 500 pips.

So for the euro that would like 1.2000, 1.2500, 1.300, 1.400 etc.

A pair like usd/jpy

80.00 85.00 90.00 etc

Plot them it's pretty cool, and a good added confluence(along with LRN large round numbers, every 100 pips of course)

Best
Mike
Thank you both!
  • #111,480
  • May 8, 2012 6:41pm May 8, 2012 6:41pm
Mike (mbqb11),

I am curious when and how you became an instructor/senior member of the PF. It is interesting to be reading the thread from the beginning and see the evolution of some of the early posters and how they are now senior members. Thanks.
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