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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

  • #115,621
  • Aug 16, 2012 7:55am Aug 16, 2012 7:55am
Quoting PhAnTi'
it's support turned resistance with a lot of supply there. anyway where did you exactly enter, where is your stop and where your target? i need more information to deliver you a idea in detail.

Also i guess you bought straight into supply.

Will be offline the next 12 hours, please quote this post and ill requote it later on when i return home.

Best,
Jonas
I did not buy into supply ... Please read my signature ...

These are my buy trades ...

http://www.forexfactory.com/showthre...23#post5924523
Human
  • #115,622
  • Aug 16, 2012 7:58am Aug 16, 2012 7:58am
Quoting midsea
One of the aspects I struggle with is committing to taking profits when it is available. Invariably I will set a BE point and a TP point - then when the trade reaches the TP point I'll adjust my stop below this point but not close the trade - as a result I have a lot of trades that exit at the stop for much less than I would have otherwise achieved if I have just closed the trade. My mindset is that perhaps the trade will yield more profit. Does anybody have any suggestions?
Hey M

For your case you seem to answer your own question. Maybe just not moving your stop or leaving your stop as is, if you are noticing your take profits inevitably get hit. Of course without more information this is just based off what you write. It's good to track multiple types of entries and exits to see where your best yield may be

Best
Mike
  • #115,623
  • Aug 16, 2012 8:09am Aug 16, 2012 8:09am
It's been awhile since my last trade. I find myself extremely picky. Extremely
It haven't activated my order on my real acc yet, but an interesting one to watch.
Hope I enjoy it

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  • #115,624
  • Aug 16, 2012 8:45am Aug 16, 2012 8:45am
mike u spoked 1 time about divergence, and it was explained very good can u remmber the post plz ?
  • #115,625
  • Aug 16, 2012 8:50am Aug 16, 2012 8:50am
Quoting extremerrage
mike u spoked 1 time about divergence, and it was explained very good can u remmber the post plz ?
Hey E

We want Price and or oscillator to be doing the opposite or diverging.

So if price is RISING and our MACD is decreasing, this shows divergence of price and oscillator(momentum)

Here is a post you can see some of that, does this helps?


Best
Mike
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  • #115,626
  • Aug 16, 2012 9:39am Aug 16, 2012 9:39am
Guys what do you think about today´s BUOB on H4 ? There is nice divergence, double bottom, BRN and really strong support. On the other hand price is quite choppy. I would like to hear your commnts.
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  • #115,627
  • Aug 16, 2012 9:40am Aug 16, 2012 9:40am
Hello wonderful J16ers!

I would very much appreciate your thoughts on this set-up.

The chart attached is a view of the EURCAD daily on Monday after I set my sell limit order.

The Fib represents last week's BEOB, which was the trend continuation PA signal I was interested in.

I set the sell limit on the 38.2 Fib ret of the BEOB, which coincided with daily lows during the week prior to the BEOB.

I took quick profit on one half of my position on Monday and have just been stopped out on the other half for an average 61-pip gain for the whole trade.

I would appreciate any thoughts/advice on my trade management, which I describe on my trading journal here: http://moneyblogpost.com/2012/08/16/...6-eurcad-pips/

Thank you!
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  • #115,628
  • Aug 16, 2012 9:53am Aug 16, 2012 9:53am
Quoting Martin600
Guys what do you think about today´s BUOB on H4 ? There is nice divergence, double bottom, BRN and really strong support. On the other hand price is quite choppy. I would like to hear your commnts.
I find it very good ! Be aware that you already have reached a point where you should expect some or strong retracement back. So it's time to do something ! Taking profit, tightening stop, BE .... you get what it's expected. Everything else is a bonus

Not loosing on setups that initially went in your favor is the hardest part in trading
  • #115,629
  • Aug 16, 2012 9:55am Aug 16, 2012 9:55am
Quoting dabbledave
Hello wonderful J16ers!

I would very much appreciate your thoughts on this set-up.

The chart attached is a view of the EURCAD daily on Monday after I set my sell limit order.

The Fib represents last week's BEOB, which was the trend continuation PA signal I was interested in.

I set the sell limit on the 38.2 Fib ret of the BEOB, which coincided with daily lows during the week prior to the BEOB.

I took quick profit on one half of my position on Monday and have just been stopped out on the other half for an average 61-pip gain for the...
what BEOB are you talking about ? I dont see one..
Hero calls followed by margin calls...
  • #115,630
  • Aug 16, 2012 10:00am Aug 16, 2012 10:00am
Quoting Rust
It's been awhile since my last trade. I find myself extremely picky. Extremely
It haven't activated my order on my real acc yet, but an interesting one to watch.
Hope I enjoy it

Attachment
to be honest i wouldnt call 1.0250 as a big round number. Also imho it aint a PPZ in this example, check price action around it.

Well yes double top here, weakness in buying, Lower High after BEOB, trend might be down.

Although i am flat on this pair since i want a nice supply area to sell from.

My 2 cents,

best,
Jonas
Hero calls followed by margin calls...
  • #115,631
  • Aug 16, 2012 10:07am Aug 16, 2012 10:07am
Quoting PhAnTi'
to be honest i wouldnt call 1.0250 as a big round number. Also imho it aint a PPZ in this example, check price action around it.

Well yes double top here, weakness in buying, Lower High after BEOB, trend might be down.

Although i am flat on this pair since i want a nice supply area to sell from.

My 2 cents,

best,
Jonas
Well, you are partially right for sure (it's a .50) But in relationship to how much this pair moves it's a pretty important number. If you check it on daily, it's pretty respected, too. This is why I find it important in this case.
Thanks for the input. Appreciated as always
  • #115,632
  • Aug 16, 2012 10:30am Aug 16, 2012 10:30am
Entered late off daily LCS but moving. Encountering resistance at weekly HCR.
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  • #115,633
  • Aug 16, 2012 10:35am Aug 16, 2012 10:35am
Quoting 0421
the lowest of previous bar. that is correctly?


THX
Quoting jarroo
Thanks correct, 0421.

S/L is below the Low of the Bar that PBT&CA.

Here are some targets ( previous bar Highs and Lows on the Daily) in blue.

I like how Price Close aboved both HCR levels and that LCS level.


Price is hitting tragets now you could reduce your risk alot right now . .

Nice work, 0421.

Jim
Hope you took some profits , 0421 . .

Notice that the Daily still couldn't close below our level(s) . still a valid Support level . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,634
  • Aug 16, 2012 10:38am Aug 16, 2012 10:38am
Quoting jarroo
chart .. .
Very nice . . .on the NzdUsd ..
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Indicators show the past. Price Action "Indicates" the future.
  • #115,635
  • Aug 16, 2012 10:45am Aug 16, 2012 10:45am
Quoting utiq
a little late, but ... try

Attachment

Attachment

Quoting utiq
Thanks Jarroo, we'll see how it works
Very nice outcome, utiq . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,636
  • Aug 16, 2012 10:54am Aug 16, 2012 10:54am
Quoting freeze
Hello,

the USD/JPY has been trading in a very narrow range past few weeks. Yesterday, we broke out and closed above it. What do you think about buying the retest, Jarrooers?

Quoting RonaldinhoKuban
3 pips price is not reached prior to my order on NzdUsd

On UsdJpy already in BE
Excellent . .very nice guys . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,637
  • Aug 16, 2012 10:59am Aug 16, 2012 10:59am
Quoting PhAnTi'
what BEOB are you talking about ? I dont see one..
The Fib on the attached daily chart is effectively the BEOB on the weekly. So if I were to move that out to the weekly chart, you would see the BEOB.
  • #115,638
  • Aug 16, 2012 11:01am Aug 16, 2012 11:01am
Quoting mbqb11
trade closed
Awesome trade Mike . .

man . .that 4 hour bar didn't close above that trendline . .damn, you could have stayed in it .. you had only 20 mins left to the 4 hour close, damn . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,639
  • Aug 16, 2012 11:06am Aug 16, 2012 11:06am
Quoting jarroo
Awesome trade Mike . .

man . .that 4 hour bar didn't close above that trendline . .damn, you could have stayed in it .. you had only 20 mins left to the 4 hour close, damn . .
even I over think things sometimes
  • #115,640
  • Aug 16, 2012 11:08am Aug 16, 2012 11:08am
Quoting mbqb11
even I over think things sometimes

It was a classic trade Mike . .beautiful . .
Indicators show the past. Price Action "Indicates" the future.
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