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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

  • #114,321
  • Jul 15, 2012 8:10pm Jul 15, 2012 8:10pm
Quoting greenpath
Bullish divergence combined with a BUOB, but heading right into a PPZ (as I see PPZ in my limited knowledge. Please criticize freely.
Hi GP,
I'd be cautious. The BEOB did not close strong enough to indicate to me any kind of reversal. Strong downtrend on all EUR pairs is another reason. I'd prefer to see retrace to 1.2363 with bearish PA for a further push down.
  • #114,322
  • Jul 15, 2012 8:35pm Jul 15, 2012 8:35pm
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
Hi Mike
I'm a newbie - been reading this thread for several months now and loving it. I appreciate your (and other senior members) commitment and patience.

My question is why did you exit at this level - was this your ultimate target? I don't see a good reason for exiting other than this being at resistance.

Great trade btw.
  • #114,323
  • Jul 15, 2012 10:14pm Jul 15, 2012 10:14pm
Mike I recently joined the PF. Can't get to know how to get hold of your email or contact. I needed to discuss something , id be grateful if you give me some kind of contact details. My email id is [email protected]
  • #114,324
  • Jul 16, 2012 1:34am Jul 16, 2012 1:34am
Quoting mbqb11
Hey SP

This is just the time the brokers open. Oanda opens slightly earlier then a lot of brokers. Although I believe they are changing that or did change that so now they should be inline with most brokers opening at 5pm et. Price is still price. Meaning the other brokers just aren't allowing active trading so you don't see that movement till they open(and the chart will just start with whatever current price is upon opening, this is also why you see those gaps on the chart)

Best
Mike
That makes sense.


I'm just afraid that I could miss a good entry opportunity because I'm sleeping. When the market opens after the weekend it's 11pm where I live but only 6pm EST.
Should I worry about such things or just wait until the European session starts?
  • #114,325
  • Jul 16, 2012 2:03am Jul 16, 2012 2:03am
[quote=rafstraszek;5841588]And nice divergence...[/QUOT]


what do You think about this chart?

http://i47.tinypic.com/2uyt548.jpg
  • #114,326
  • Jul 16, 2012 2:22am Jul 16, 2012 2:22am
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
Told ya you're the man
I don't need easy. I just need possible.
  • #114,327
  • Jul 16, 2012 4:37am Jul 16, 2012 4:37am
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
Hi Mike
What were the holding costs behind this trade precentegwise to the profit you got?
  • #114,328
  • Jul 16, 2012 6:21am Jul 16, 2012 6:21am
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
Too soon Mike....too soon...

Ye gatta let the trade do its thing.

Honestly though...one S-I-C-K trade

g.
I believe . . .
  • #114,329
  • Jul 16, 2012 6:31am Jul 16, 2012 6:31am
[quote=0421;5843488]
Quoting rafstraszek
And nice divergence...[/QUOT]


what do You think about this chart?

http://i47.tinypic.com/2uyt548.jpg
High probability that we'll reach 1.20

If we get a reversal there is a differetnt question.
Thoughts are things
  • #114,330
  • Jul 16, 2012 7:27am Jul 16, 2012 7:27am
Quoting mbqb11
and this one has finally come to an end.

stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
You are the man
  • #114,331
  • Jul 16, 2012 8:26am Jul 16, 2012 8:26am
What you think guys about this setup?
CHF/JPY on weeakly suport, we can see a nice pin bar on 4h chart.
Weeakly chart
http://img824.imageshack.us/img824/3665/catsodb.jpg

4h Chart
http://img809.imageshack.us/img809/4514/cats1qh.jpg
Uploaded with ImageShack.us
  • #114,332
  • Jul 16, 2012 8:28am Jul 16, 2012 8:28am
Quoting midsea
Hi Mike
I'm a newbie - been reading this thread for several months now and loving it. I appreciate your (and other senior members) commitment and patience.

My question is why did you exit at this level - was this your ultimate target? I don't see a good reason for exiting other than this being at resistance.

Great trade btw.
Hey Midsea

Welcome to the thread glad you are enjoying it

Ultimately my target for this trade was near parity(1.00) see attached chart.

I posted my updated stop losses through this thread I believe most of them at least. Would take a bit of digging through my historical charts(click my name then attachments).

here was one of my charts of my "target".


again welcome

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 22 KB
  • #114,333
  • Jul 16, 2012 8:33am Jul 16, 2012 8:33am
Very nice Mike!
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #114,334
  • Jul 16, 2012 8:43am Jul 16, 2012 8:43am
Quoting me_nabeel1
Mike I recently joined the PF. Can't get to know how to get hold of your email or contact. I needed to discuss something , id be grateful if you give me some kind of contact details. My email id is [email protected]
Hey Me

I sent you an email from my email


Mike
  • #114,335
  • Jul 16, 2012 8:44am Jul 16, 2012 8:44am
Quoting savingpig
That makes sense.


I'm just afraid that I could miss a good entry opportunity because I'm sleeping. When the market opens after the weekend it's 11pm where I live but only 6pm EST.
Should I worry about such things or just wait until the European session starts?
Hey SP

I place my orders upon the sunday opening. So they can trigger at any point during that time. Most days it will be pretty slow to europe but you will have to track and see if you miss too much. If they are weekly trades especially it shouldn't be too much of an issue

Best
Mike
  • #114,336
  • Jul 16, 2012 8:44am Jul 16, 2012 8:44am
Quoting mbqb11
and this one has finally come to an end.
stopped out nearly 2000 pips and a year later. Now that's a rocking A+ bar
Quoting mbqb11
Hey Midsea
Welcome to the thread glad you are enjoying it
Ultimately my target for this trade was near parity(1.00) see attached chart.
magnificent trade which required a megaton of patience.

my questions are:
is this your best trade?
longest trade? (+/-1 year)?

Thanks Sir Mike
  • #114,337
  • Jul 16, 2012 8:51am Jul 16, 2012 8:51am
Quoting cold chisel
Hi Mike
What were the holding costs behind this trade precentegwise to the profit you got?
very small CC, quickly it seems about .015% of the total trade profit

Mike
  • #114,338
  • Jul 16, 2012 9:16am Jul 16, 2012 9:16am
[quote=0421;5843488]
Quoting rafstraszek
And nice divergence...[/QUOT]


what do You think about this chart?

http://i47.tinypic.com/2uyt548.jpg
yep that's a great area to watch 04
  • #114,339
  • Jul 16, 2012 9:29am Jul 16, 2012 9:29am
Quoting nc_trader
What you think guys about this setup?
CHF/JPY on weeakly suport, we can see a nice pin bar on 4h chart.
Weeakly chart
http://img824.imageshack.us/img824/3665/catsodb.jpg

4h Chart
http://img809.imageshack.us/img809/4514/cats1qh.jpg
Uploaded with ImageShack.us
Hey nc ,
it seems you picked the area to watch for a price action right. But this is not a pinbar. A true pinbar it has to close within the previous bar low.
  • #114,340
  • Jul 16, 2012 10:29am Jul 16, 2012 10:29am
Quoting Mebius
Hi GP,
I'd be cautious. The BEOB did not close strong enough to indicate to me any kind of reversal. Strong downtrend on all EUR pairs is another reason. I'd prefer to see retrace to 1.2363 with bearish PA for a further push down.
Thanks Mebius, I think that makes more sense. Certainly not the dream setup at the moment.
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