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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

  • #113,961
  • Jul 5, 2012 6:03pm Jul 5, 2012 6:03pm
Quoting 0421
yes, this bar is small. i'm just startet play forex and use Price Action, so when i see BEOB, PB, IB on a good zoone( in my opinion) i whant to play them... i must to learn see PA in a wider perspective.

thx for help.
yes that's a very good way to look at it being so new. VERY VERY GOOD

Best
Mike
  • #113,962
  • Jul 5, 2012 6:04pm Jul 5, 2012 6:04pm
Quoting mbqb11
Hey 0421

I get nervous seeing new members taking beobs at swing lows

Just remember we want to take them up at swing highs as taught by James. But yes you CAN play them as continuations. This is actually a good spot off that previous swing low point. But I get nervous cause continuations bars can trip people up if they don't get them down at the conventional spot. Price falling hard but I would probably be locking in some decent profit

Nicely done
Mike
So the idea is to take a BEOVB at a swing high and a BUOVB at a swing low? Treat them as reversal Bars and not continuation bars?
  • #113,963
  • Jul 5, 2012 6:09pm Jul 5, 2012 6:09pm
Quoting ricosta
So the idea is to take a BEOVB at a swing high and a BUOVB at a swing low? Treat them as reversal Bars and not continuation bars?
Hey Rico

It depends on the context of which we call them reversals. In terms of the way you are explaining it and James teaches us YES. Again after awhile you will realize we can play these bars in all kinds of situations continuations, reversals, sideways markets. But when new, it is much easier and simpler and the proper way to do it the way James teaches us.

The bars are a VERY small part of what we do here. In fact people often come here and say "pinbars don't work" and leave. That's cause those people are too hung up on just the bar. Eventually we want to realize the bar is part of the larger context(or story) of developing a trade plan. They can play a significant role, but are just part of it.

I ALWAYS say learn to trade them at the proper locations first, build from there. Just like we want to start on the higher timeframes and build from there. It's important to build a good foundation. Most won't follow that advice, and I understand we all have to take our own journeys, but I wish they would

Best
Mike
  • #113,964
  • Jul 5, 2012 6:09pm Jul 5, 2012 6:09pm
Quoting mbqb11
Good M

Or the TBH TBL as taught here for the basics.

Glad it helped
Mike
Meaning Trend Break High, Trend Break Low?
  • #113,965
  • Jul 5, 2012 6:16pm Jul 5, 2012 6:16pm
Quoting 0421
thx a lot.
i have one more question, i have this trade on BEP, and now i have 150 Pips profit, what do next, change my Stop Loss on +50, +100 Pips, or stay ON bep??
At 150 pips I would definitely lock in some profit, around 100 pips but that's just me. I like to trail under previous bars low. If it is a long fast moving Bar like yours I would drop down a time frame (maybe even Two) and trail there. Another option I like to do is to close half of my position (with a trade to the opposite site) and lock in some profit this way, therefore locking in profit, reducing risk but being able to let the trade run as well.

Ask me if you dont understand what I mean.
  • #113,966
  • Edited 7:45pm Jul 5, 2012 7:34pm | Edited 7:45pm
Attached Image (click to enlarge)
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Gold Daily ( BEOB) at trendline, Fib 38.2, MA 350
mbqb11 what do u think? How find your video? thanks
  • #113,967
  • Jul 5, 2012 7:38pm Jul 5, 2012 7:38pm
Quoting ricosta
Meaning Trend Break High, Trend Break Low?
TBH stands for Two bar high, TBL stands for Two bar low

They are introduced right at the start of the thread if you are interested

here is a recent one I took MULTI bar low breakout



Best
Mike
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  • #113,968
  • Jul 5, 2012 11:30pm Jul 5, 2012 11:30pm
Something to watch.

Upside breakout is most likely to occur here.
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  • #113,969
  • Jul 5, 2012 11:44pm Jul 5, 2012 11:44pm
Quoting Mebius
Getting closer. Watching for PA at 82.41. AUD and CAD pairs (correlated) saw big moves today, but not against the YEN. Anyone know why?? Would like to see a strong close above this daily level then a confirmation of resistance turning into support before taking off to the moon!
Just be carefull, cause there is a clear trend up and I would not go short as long as the TL isnt broken.
Price could very well get squezed between those two, like it is in NZD/USD for the last days. Well, there it is between BRN ad TL, but same priciple.
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Thoughts are things
  • #113,970
  • Jul 6, 2012 12:34am Jul 6, 2012 12:34am
Quoting hopamitica
i think the 61.8% ret is a better pivot to take a good long on USD/CAD. weekly chart.
good call buddy

i have a buy limit on 61.8% ret

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  • #113,971
  • Jul 6, 2012 12:38am Jul 6, 2012 12:38am
USD/TRY

entered after the DBLHC, PPZ area and rising TL gave me confirmation

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  • #113,972
  • Jul 6, 2012 1:06am Jul 6, 2012 1:06am
CADJPY stalling at a very nice area.
Confluence: Weekly PPZ + Trend Line + 50% retrace of last move down.
Im sitting on my hands waiting for a PA
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  • #113,973
  • Jul 6, 2012 1:07am Jul 6, 2012 1:07am
Quoting Nake
Attachment
Gold Daily ( BEOB) at trendline, Fib 38.2, MA 350
mbqb11 what do u think? How find your video? thanks
this was definitely a good one, my friend

i watch this also but miss my entry after the Inside Bar 2 days ago. The falling TL and a nice PPZ tells me a good story. Long way down to this massive support zone and many pips to catch

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  • #113,974
  • Jul 6, 2012 1:30am Jul 6, 2012 1:30am
USD/CHF

worth to watch...trend channel, RN 0.9700, H4 is forming a BEOB ...waiting for an entry

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  • #113,975
  • Jul 6, 2012 1:51am Jul 6, 2012 1:51am
Quoting bullzeye
USD/CHF

worth to watch...trend channel, RN 0.9700, H4 is forming a BEOB ...waiting for an entry

Attachment
I would not short this. There is confluence of TL & support at 0.965, just 30 pips away.
I am bullish on this one.
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Thoughts are things
  • #113,976
  • Jul 6, 2012 2:46am Jul 6, 2012 2:46am
Quoting bullzeye
USD/TRY

entered after the DBLHC, PPZ area and rising TL gave me confirmation

Attachment
hit my first target with 100 Pips, closed all don't like the TL

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  • #113,977
  • Jul 6, 2012 2:51am Jul 6, 2012 2:51am
Quoting bullzeye
hit my first target with 100 Pips, closed all don't like the TL

Attachment
How strange. Were both with Alpari and while you have a clear DBLHC, mine has not.
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Thoughts are things
  • #113,978
  • Jul 6, 2012 3:06am Jul 6, 2012 3:06am
Quoting 0421
Chart:

http://i49.tinypic.com/14t0i2a.jpg

what do u think??
First of all I'd focus more on the market bigger picture, just to see if it could bring up some surprise.
In the attachment 1 I have put a zoomed out chart. You can see how price is ranging a diagonal way and just left a moth of horizontal ranging.
When price breaks out of something, it usually tends to retest that something. In example (see chart 2), since it broke the horizontal range market (blue rectangle) it will possibly want to retest said horizontal range former support, and make it a new resistance for a short sell opportunity.
I have plotted a red arrow to show such possible outcome.
It could re-enter the range market too (green dashed arrow) and go for the upper trend line, but that's less common and counter trend.


Quoting 0421
yes, this bar is small. i'm just startet play forex and use Price Action, so when i see BEOB, PB, IB on a good zoone( in my opinion) i whant to play them... i must to learn see PA in a wider perspective.

thx for help.
In my opinion if you are new, USDCAD could prove to be challenging. It's a pair that loves to range a lot.
Attached Image(s) (click to enlarge)
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  • #113,979
  • Jul 6, 2012 4:17am Jul 6, 2012 4:17am
Quoting Quezoy
How strange. Were both with Alpari and while you have a clear DBLHC, mine has not.
must be Alpari of different branches?
  • #113,980
  • Jul 6, 2012 4:24am Jul 6, 2012 4:24am
Thx a lot dfumagalli.
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