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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

  • #114,441
  • Jul 19, 2012 5:51am Jul 19, 2012 5:51am
Hello,

would you please comment on what I think may be a potential good trade? It is usd/cad daily chart. As far as I can see there is a flag retracement (continuation pattern- bias up), then we are approaching support which used to be quite a significant resistance (the purple line) and this support is very close to 61.8 fib. If we get some sort of confirmatory price action, should I be ready to buy this sucker?

Thanks guys,
good luck.
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  • #114,442
  • Jul 19, 2012 5:58am Jul 19, 2012 5:58am
Quoting Rust
Are you with me, Mike ?
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Hey Rust,

well i don't know about mike, but i am definitely with you

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  • #114,443
  • Jul 19, 2012 6:01am Jul 19, 2012 6:01am
Quoting bullzeye
Hey Rust,

well i don't know about mike, but i am definitely with you

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  • #114,444
  • Jul 19, 2012 6:07am Jul 19, 2012 6:07am
Quoting jsvihla
Hello,

would you please comment on what I think may be a potential good trade? It is usd/cad daily chart. As far as I can see there is a flag retracement (continuation pattern- bias up), then we are approaching support which used to be quite a significant resistance (the purple line) and this support is very close to 61.8 fib. If we get some sort of confirmatory price action, should I be ready to buy this sucker?

Thanks guys,
good luck.
yehh buddy, its a good level because its my target for my short

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  • #114,445
  • Jul 19, 2012 6:27am Jul 19, 2012 6:27am
Quoting xxxxLearner
Havent been here for a while,

Just wanted to say good bye to all.

I am part of the 95% of people who failed.

Not wasting any more of my life on forex. GOODLUCK to all and thanks for your help!!
Sorry to hear that, I think we have all felt this way at some time or another. Why don't you just take a few weeks out and then have another look? Sometimes things look clearer after a break.
  • #114,446
  • Jul 19, 2012 7:03am Jul 19, 2012 7:03am
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  • #114,447
  • Jul 19, 2012 7:45am Jul 19, 2012 7:45am
Making a post after a few weeks . Had almost 6 BE daily trades within this time , had 7 winners and 1 loss . Below are four out of seven trades that I took ... All thanks to JARROO ......
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Human
  • #114,448
  • Jul 19, 2012 7:57am Jul 19, 2012 7:57am
These are the rest of the three trades ... Its not a dream but a reality !!!

P.S I Trade a Live account !!
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Human
  • #114,449
  • Jul 19, 2012 8:02am Jul 19, 2012 8:02am
Beautiful stuff Chanya, great work bro
Price is beautiful. A repetitive method is a competitive method.
  • #114,450
  • Jul 19, 2012 8:06am Jul 19, 2012 8:06am
Quoting Rust
Are you with me, Mike ?
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worked out real nice Rust I missed it

Few watched that in the PF

Here was another way you could have played this one. Multi bar breakout ala TBH/TBL

that should says "pure" not pureu

Real nice breakout

Mike
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  • #114,451
  • Jul 19, 2012 8:06am Jul 19, 2012 8:06am
Quoting xxxxLearner
Havent been here for a while,

Just wanted to say good bye to all.

I am part of the 95% of people who failed.

Not wasting any more of my life on forex. GOODLUCK to all and thanks for your help!!
Best of luck to you learner. Giving it a shot is all you can do. Nothing wrong with that!

Take care of yourself
Mike
  • #114,452
  • Jul 19, 2012 8:07am Jul 19, 2012 8:07am
Quoting jsvihla
Hello,

would you please comment on what I think may be a potential good trade? It is usd/cad daily chart. As far as I can see there is a flag retracement (continuation pattern- bias up), then we are approaching support which used to be quite a significant resistance (the purple line) and this support is very close to 61.8 fib. If we get some sort of confirmatory price action, should I be ready to buy this sucker?

Thanks guys,
good luck.
as the others said. FANTASTIC level to watch. I will be looking a bit lower towards parity(1.0 BRN) for information as well


Best
Mike
  • #114,453
  • Jul 19, 2012 8:09am Jul 19, 2012 8:09am
Quoting Rust
4 hour BEOB off the 7.000 maybe ?

Best
Tod
Nice and easy one right Tod
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  • #114,454
  • Jul 19, 2012 8:11am Jul 19, 2012 8:11am
Mike. wouldn't you mind i'll ask you to analyze this one. What i saw here were: nice DBHLC witj a strong close below the rising TL, rejection off 150 EMA, RN and also rounding effect of the price. This setup was only lack of a divergence. I took this one on the break of DBHLC. I didn't cancel the order when it didn't break the very next bar, coz that was off market time. I left it in BE 8 hours later after it triggered, coz price didn't go down fast, price stalled.
This setup reminds me your video in guest area ( it was live 4H BEOB on NZD/USD as I remember) except now it has no divergence.
What was your view of it if you analyze this setup? Please share so I could understand where I'm wrong and where not in this situation.
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If not up, then down, otherwise sideways :-)
  • #114,455
  • Jul 19, 2012 8:13am Jul 19, 2012 8:13am
Quoting nwo-trader
Beautiful stuff Chanya, great work bro
Thank you . Its actually very very easy now that Have spent so much time on it . Believe me , I have not slept many nights , stayed in front of my computer for consecutive 15 hours at a time while learning for months . Now , Its paying off ....
Human
  • #114,456
  • Jul 19, 2012 8:26am Jul 19, 2012 8:26am
Quoting Chanya
Thank you . Its actually very very easy now that Have spent so much time on it . Believe me , I have not slept many nights , stayed in front of my computer for consecutive 15 hours at a time while learning for months . Now , Its paying off ....
That seems to be the case for many people including myself, the harder you work and the more you stare at the charts, the simpler things become. Somewhere out there there is a theory that it takes about 10,000 hours to master any specific skill, I think it certainly applies to trading as well.

A wise man supposedly once said "If you can't explain it simply, you don't understand it well enough"
Price is beautiful. A repetitive method is a competitive method.
  • #114,457
  • Jul 19, 2012 8:34am Jul 19, 2012 8:34am
Mike , what do u think 2hpinbar at strong PPZ
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?
  • #114,458
  • Jul 19, 2012 8:48am Jul 19, 2012 8:48am
Been watching GBPUSD. Need to wait for this bar to close but it is looking like a pinbar. Maybe reversal to one of the lower TLs for support. We'll see.
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  • #114,459
  • Jul 19, 2012 8:50am Jul 19, 2012 8:50am
Quoting mbqb11
worked out real nice Rust I missed it

Few watched that in the PF

Here was another way you could have played this one. Multi bar breakout ala TBH/TBL

that should says "pure" not pureu

Real nice breakout

Mike
Definitely, it was even the better approach. The weak part is i didn't see it
Still working brilliantly for now.
Market is full of breakouts right now. It's a pity how hard is to catch all things to line up for an entry i missed a ton of perfect setups just lacking the final part - bar confirmation.
  • #114,460
  • Jul 19, 2012 8:56am Jul 19, 2012 8:56am
Quoting nwo-trader
Somewhere out there there is a theory that it takes about 10,000 hours to master any specific skill, I think it certainly applies to trading as well.
I am very fond on that theory. If you start to think of the things you do best and you realize how truth there is .

Quoting nwo-trader
A wise man supposedly once said "If you can't explain it simply, you don't understand it well enough"
That man was Albert Einsten
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