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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

  • #115,681
  • Aug 16, 2012 4:08pm Aug 16, 2012 4:08pm
So Mike how about now? We have the trendline break, with back to back BUOB's?

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  • #115,682
  • Aug 16, 2012 4:09pm Aug 16, 2012 4:09pm
Hello,

And two more, like in previous post, best Rosa.
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  • #115,683
  • Aug 16, 2012 4:10pm Aug 16, 2012 4:10pm
Quoting jarroo
Youa are on a roll, my friend . .
all glory to You guys I m just small Yogi bear trying to figure out in a wild fx jungle

another setup for trade -
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all is eternal - this is good news for people who loves bad news
  • #115,684
  • Aug 16, 2012 4:10pm Aug 16, 2012 4:10pm
A close above 125 would have been nice!
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  • #115,685
  • Aug 16, 2012 4:17pm Aug 16, 2012 4:17pm
Holy shimtzel this thread goes fast.
  • #115,686
  • Aug 16, 2012 4:18pm Aug 16, 2012 4:18pm
Quoting Rosco_P
So Mike how about now? We have the trendline break, with back to back BUOB's?

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Hey Rosco

It's certainly better to have closed out of the TL. But now the BUOB is not at a swing low but in a sideways box. The same concepts mostly apply to this one though as the last upon a break of the high. It shouldn't have to pull back to much further then the descending TL

I'd have preferred a much bigger bar as the first BUOB at the swing low breaking the TL as in the previous post

Best
Mike
  • #115,687
  • Aug 16, 2012 4:19pm Aug 16, 2012 4:19pm
Quoting Tyoon
Hi Mike, looks like demand is dominant atm. The break has occurred its standardized pullback from the break and retracement from resistance is indicating more buying. The fact 23 has held shows there are willing buyers.

Just my thoughts.

ADD: also noticed the daily closes (used to be resistance) at 23 also are being used as support.

..
Hey T

Yep the box is holding for now that's why I used multiple arrows to show different scenarios I watch for. I just prefer PA myself

Best
MIke
  • #115,688
  • Aug 16, 2012 4:27pm Aug 16, 2012 4:27pm
Hanging on. A H1 close below the blue support (weekly HCR) and I'll close.
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  • #115,689
  • Aug 16, 2012 4:27pm Aug 16, 2012 4:27pm
EURJPY looks even better - waiting for retest
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all is eternal - this is good news for people who loves bad news
  • #115,690
  • Aug 16, 2012 4:30pm Aug 16, 2012 4:30pm
Quoting meshka
EURJPY looks even better - waiting for retest
Watching this one too.
  • #115,691
  • Aug 16, 2012 4:50pm Aug 16, 2012 4:50pm
Thanks Mike apprecaite it!!
  • #115,692
  • Aug 16, 2012 7:14pm Aug 16, 2012 7:14pm
Quoting Rosa
Can I ask somebody from this thread to put some charts of eur/usd, I cant see anything on this chart ...
hi rosa ,

are you like this ,it is my view .
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Enter Signature
  • #115,693
  • Aug 16, 2012 7:31pm Aug 16, 2012 7:31pm
Mike!

Just curious if/how you are still managing your long on AUDNZD?

I dislike the way these pairs seem to behave (lots of chop, takes a long time for price to move 200 pips, etc)

thanks a million.
Many choose unhappiness over uncertainty.
  • #115,694
  • Aug 16, 2012 7:35pm Aug 16, 2012 7:35pm
Quoting Dan Gilbert
Mike!

Just curious if/how you are still managing your long on AUDNZD?

I dislike the way these pairs seem to behave (lots of chop, takes a long time for price to move 200 pips, etc)

thanks a million.
Hey Dan

My stop is in the same place. But a stop out is nearly a breakeven trade for me. My stop is slightly under my entry so I am just letting it play out since we have this last bit of swing low support to "possibly" hold us up. Pretty much a freebie here. Would have liked to see that BUOB bring us higher.

Yes it is a choppy pair and this is why i left my stop far away for awhile when we got going. We could very well go higher but I don't like assuming too much more risk at this point.

Best
Mike
  • #115,695
  • Aug 16, 2012 9:59pm Aug 16, 2012 9:59pm
Quoting jarroo
Hope you took some profits , 0421 . .

Notice that the Daily still couldn't close below our level(s) . still a valid Support level . .
unfortunately, i'm only on BE with this trade... It's lesson for the future too me, when you have some profit about 50, or 80 pips, you must take some of this profit, or even all. I'm right?? what do You think about this Jim??

THX.
  • #115,696
  • Aug 16, 2012 10:10pm Aug 16, 2012 10:10pm
Quoting jarroo
Let's see where the daily closes on the EurJpy . .
Jim. where do You like to buy on This chart?? witch level do You choose?? you want to wait to retes??

one more think:

I like to play, on a daily chart with only daily HCR and LCS. I like to have a one, two lines and wait for PBT&C(A,B), do you think It's OKI??

THX.
  • #115,697
  • Aug 16, 2012 10:49pm Aug 16, 2012 10:49pm
Quoting jsvihla
Fucking hell I am so pissed off today. This must have been a conspiracy against me. So pissed off that this shit happens only to me. Just look at that stupid chart!! CAD/CHF daily with a nice divergence just as we are getting closer to the monthly pp R1 which happened to be on a significant resistance from ages ago (look at a weekly). I set my stupid short pending order there, the price misses it by 1 FUCKING PIP and then heads south 80 pips or so! I should have been 80 pips in green, instead I am 30 pips down on a different trade. WTF guys?

Sorry...
I don't think so as, it has not been going South, it has been going North.
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  • #115,698
  • Aug 17, 2012 12:34am Aug 17, 2012 12:34am
saw this and thought it looked pretty good because nearly all of my confluence factors come into play except PA...

When something is this strong, would you trade with no bar confirmation?

Nymex miNY light sweet crude : QM
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  • #115,699
  • Aug 17, 2012 12:59am Aug 17, 2012 12:59am
Quoting jarroo
Yes that's correct . .waiting for the daily to close above the HCR level (97.44). I may entrer blindly at that level on a retrace to it or wait for lower TF bulilish PA at that level. If a Hourly or 4 Hour bar closes below the 97.44, it will take me out of the trade.

Later.

jim
When you say you will enter blindly, will you do so even if price reaches the HCR at the end of today's session or on Sunday ? Thank you Jim.
  • #115,700
  • Aug 17, 2012 2:06am Aug 17, 2012 2:06am
Quoting deltaskelta
saw this and thought it looked pretty good because nearly all of my confluence factors come into play except PA...

When something is this strong, would you trade with no bar confirmation?

Nymex miNY light sweet crude : QM
Hey Delta

You can , and often with a tight stop. But it is much tougher for new traders generally trading without PA(and lot of pitfalls). Something to demo for sure, in this case a tight stop behind your EMAs. But I always recommend new traders use PA confirmation on their confluences

Best
Mike
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