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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

  • #112,041
  • May 22, 2012 12:54pm May 22, 2012 12:54pm
Quoting Chanya
Am so tempted to get in here ... But Not going to unless PA occur
BEOB forming on Daily!
  • #112,042
  • May 22, 2012 1:05pm May 22, 2012 1:05pm
100th posttthats gotta be a good luck charmm..



-H
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  • #112,043
  • May 22, 2012 1:22pm May 22, 2012 1:22pm
sorry, i couldn't resist...
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meine augen sind die sterne
  • #112,044
  • May 22, 2012 1:26pm May 22, 2012 1:26pm
Quoting aserbfx
i want to see confirmation for friday bars on monday next week.
Quoting aserbfx
as expected...
Hey Aserbfx,

What kind of confirmation would you look for on the Monday bar? My Monday bar looked bullish...it retraced a bit but later made a move up. To my amateur eye it looked positive.
  • #112,045
  • May 22, 2012 1:34pm May 22, 2012 1:34pm
Quoting los_pipos
Hey Aserbfx,

What kind of confirmation would you look for on the Monday bar? My Monday bar looked bullish...it retraced a bit but later made a move up. To my amateur eye it looked positive.
1. yesterdays bar was smaller than the day before.
2. look at H1 chart: price moved above the friday bar and then collapsed for nearly 100 pips. after this it went back up and closed slightly above the friday bars high.
i like to see a strong wide range bullish bar for confirmation. something that went straight up without a doubt. a bar where you can see buyers returning.
force, power, strength
meine augen sind die sterne
  • #112,046
  • May 22, 2012 1:38pm May 22, 2012 1:38pm
Quoting mbarker22
Thanks Mike,

From what I see you should be tooting your own horn. Everything here and at the guest section of the PF is awesome!
thanks buddy


Mike
  • #112,047
  • May 22, 2012 1:38pm May 22, 2012 1:38pm
Quoting aserbfx
sorry, i couldn't resist...
hehehe.

i hate FB.
  • #112,048
  • May 22, 2012 1:42pm May 22, 2012 1:42pm
Quoting aserbfx
i like to see a strong wide range bullish bar for confirmation. something that went straight up without a doubt. a bar where you can see buyers returning.
force, power, strength
So, hypothetically, if this Monday bar had been the solid bullish move you are talking about, how would you enter? Would you look for a retracement to get in, or would you just take the trade at the bar close? Or just lower frame PA?

Thanks
  • #112,049
  • May 22, 2012 1:47pm May 22, 2012 1:47pm
Possible HNS forming ... Waiting for PA...
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Human
  • #112,050
  • May 22, 2012 1:54pm May 22, 2012 1:54pm
So this is over. As Mike escorted me through this one one last question to this trade.
Mike, would you escape some other place if you were in that one, or leave your stop below Monday's candle till the end? It even had some positive pips before Monday close.
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If not up, then down, otherwise sideways :-)
  • #112,051
  • May 22, 2012 1:55pm May 22, 2012 1:55pm
Quoting Yehuda Sh
Mike
Hello

What's your opinion

ib
e/ cad
1. brn
2. ppz

Sorry for my bad English
EUR/CAD

took this short after the bearish inside bar

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  • #112,052
  • May 22, 2012 2:21pm May 22, 2012 2:21pm
Hope I'm not cluttering the thread with dumb questions here, but if someone could comment on my thoughts process on these, that would be ace.

On the GBP/USD D1 we have a BeOB. The move down has been strong so this looks like atrend continuation? At first it looked like the price had been rejected at the 1.583 making it a good sell, however it looks like the first trouble area is right below at 1.57. It looks a little tight so this is a no trade. Are there any other reasons one would/wouldn't take this trade?

Thanks
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  • #112,053
  • May 22, 2012 2:24pm May 22, 2012 2:24pm
Quoting mbqb11
Price has hit it's FTA and is now retracing hard.

quick question. What is FTA?
  • #112,054
  • May 22, 2012 2:25pm May 22, 2012 2:25pm
Quoting Magestic
So this is over. As Mike escorted me through this one one last question to this trade.
Mike, would you escape some other place if you were in that one, or leave your stop below Monday's candle till the end? It even had some positive pips before Monday close.
Hey M

I personally hate that situation this puts you in. I think worst case our stop needs to go under that next days low, cause if that gives we see what happens. In reality and what I spoke about to some people today was we need to watch that FTA and if it doesn't go hard just get out. Just simply not a big enough bar and confluence in my eyes. I am watching closely now the retest of this last swing low for the true potential reversal

Best
Mike
  • #112,055
  • May 22, 2012 2:25pm May 22, 2012 2:25pm
AUD/CHF

support turns resistance... a small pinbar, enough reasons to take a small trade for me

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  • #112,056
  • May 22, 2012 2:26pm May 22, 2012 2:26pm
Quoting don perry
quick question. What is FTA?
Hey Don

First trouble area. This is what we look at as the real first immediate place price can stall. Often very close, but it plays a big role depending on the type of trader. The worse a trade is the more closely you need to watch these areas. Or the more consolidation you are in the more you have to watch these areas. They help greatly in game planning a trade

Best
Mike
  • #112,057
  • May 22, 2012 2:27pm May 22, 2012 2:27pm
Quoting los_pipos
Hope I'm not cluttering the thread with dumb questions here, but if someone could comment on my thoughts process on these, that would be ace.

On the GBP/USD D1 we have a BeOB. The move down has been strong so this looks like atrend continuation? At first it looked like the price had been rejected at the 1.583 making it a good sell, however it looks like the first trouble area is right below at 1.57. It looks a little tight so this is a no trade. Are there any other reasons one would/wouldn't take this trade?

Thanks
Hey Los

Also remember we want BEOBs up at swing high points when learning. This is down near a swing low trading back into that last reversal point. This is what makes continuations more tricky to me and should be learned after learning them in the locations James16 teaches us

Best
Mike
  • #112,058
  • May 22, 2012 2:27pm May 22, 2012 2:27pm
Great answer mike. I understand. Thanks.

I've been out of touch of forex and haven't really traded live since news spike strading got sour. I usually follow James16 thread but now i'm lost with some of these new terms. Is there an appendix page in this thread that explains these abbrv??
  • #112,059
  • May 22, 2012 2:41pm May 22, 2012 2:41pm
Quoting don perry
Great answer mike. I understand. Thanks.

I've been out of touch of forex and haven't really traded live since news spike strading got sour. I usually follow James16 thread but now i'm lost with some of these new terms. Is there an appendix page in this thread that explains these abbrv??
I knew I hadn't seen that caveman face in awhile

Try this

http://www.forexfactory.com/showthre...57#post5442457

Welcome back
Mike
  • #112,060
  • May 22, 2012 2:44pm May 22, 2012 2:44pm
THANKS
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