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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

  • #115,781
  • Aug 18, 2012 8:13pm Aug 18, 2012 8:13pm
Quoting dmc
Rosco,

I like the way you laid out the multiple points of confluence for this trade. You may be 100% correct that a short is a good move here, but I want to give you a few things to think about.

First, if you zoom way out on the daily the pair has been in a sideways chop.

The chop is located around the 1.30 which would be right below your entry. I understand that you are including a round number of 1.3150 in your analysis, but the 1.30 IMO cannot be ignored. Look how price dances around it on both sides.

Also the trend line that...
Hey Dave

Where ya been buddy ?

Mike
  • #115,782
  • Aug 18, 2012 9:52pm Aug 18, 2012 9:52pm
Quoting Pinbar
As it is the weekend and my new Les Paul just arrived, I thought I would post it. I love this Iced Tea color.
Sexy eh!
Quoting Pinbar
Still waiting for the amplifier to arrive from Beijing.
The cat seems to like posing in front of it, he thinks he is Bob Marley.
wow, where did you buy that?
... i mean the cat?

that cat is huge

Quoting dmc
Rosco,
I like the way you laid out the multiple points of confluence for this trade.
dmc is back?

Quoting tinkerbelle
last month. never give up. thank you who share skills.
WOW!



Happy weekend and advance Eid Mubarak to all concerned
  • #115,783
  • Aug 18, 2012 10:19pm Aug 18, 2012 10:19pm
Quoting tinkerbelle
last month. never give up. thank you who share skills.
Wow! Man, this is awsome! Congratulation!
Mától én vagyok a Soros!
  • #115,784
  • Aug 18, 2012 10:34pm Aug 18, 2012 10:34pm
Quoting mbqb11
Hey G

Jarroo's trades are different since they are touch trades. So location of stop losses are a bit different as well. MM should still be similar in that you designate your risk. I personally use 1/4 of my normal risk(that I use on PA) for my touch trades. Trend plays no role for me

Best
Mike
So just in case im right or not: you mean, for exampe your risk would be 1% with J16 pa method and would be 0.25% with Jarroo method? And it doesnt matter counter trend or major trend.

Jarroo method = touch trades?
Thanks for help!
Mától én vagyok a Soros!
  • #115,785
  • Aug 18, 2012 10:59pm Aug 18, 2012 10:59pm
DMC,

Great feedback, its greatly appreciated, especially the trendline, hadn't even noticed that. When I look at the price story per se, it seems to be trying hold above the 1.3140 area for a quite a few days and then Friday the buyers left the reservation which had me thinking it would get sold into the 1.30/50 fib area at the very least and then further down hopefully.

As for the FTA I had it at 1.30-1.290 as well, but now it feels like a B+ trade even if the price breaks the low, I run a tight stop and BE as soon as it hits 1.3. And your right it doesn't seem to have alot of space to run, maybe 40-50 pips which in this case isn't much.

So I am assuming you put less value on this trade because the BEOB was in sideways trading and not alot of space? Would I be correct is saying that?
  • #115,786
  • Aug 18, 2012 11:47pm Aug 18, 2012 11:47pm
Quoting Chanya
Eid mubarik to everyone in advance ...
Wish you a happy Eid too Chanya and everyone else who celebrates it.

Let the fireworks begin

g.
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I believe . . .
  • #115,787
  • Aug 19, 2012 2:30am Aug 19, 2012 2:30am
Quoting supremeChaos
wow, where did you buy that?
... i mean the cat?

that cat is huge


dmc is back?


WOW!



Happy weekend and advance Eid Mubarak to all concerned
Yeah, he is a Maine Coon cat.
10 Years ago I was helping a woman build a homepage she was a breeder of Maine Coons. This fellow was three weeks old and kept leaving his mother to climb up my leg. He would just not leave me alone. The breeder asked me as he really seems to like me, would I give him a good home.
I did and he has ben with us ever since.
Even managed to get him past the quarantine when we came here.
just as well as, after six months of quarantine, many animals do not make it out alive. He is small for a Maine Coon, weighing in at 8 Kilos, I have seen one at 15 kilos. like a small lion.

wow, who are you gunning for SC?
  • #115,788
  • Aug 19, 2012 2:44am Aug 19, 2012 2:44am
Quoting Winston Reed
I don't play but I appreciate as I love great guitarists especially rock-n-roll stuff. Jeff Beck, Joe Satriani, etc.
I am more of a Blues, progresive Jazz & R&B guy.
Where is that damn amplifier?
  • #115,789
  • Aug 19, 2012 2:47am Aug 19, 2012 2:47am
Hello,

It is real account, and I know that this is very small deposit, but at this moment I can't put more money because of other projects .

Quoting Pinbar
Is this a DEMO account or a LIVE account, you are talking about?
  • #115,790
  • Aug 19, 2012 5:27am Aug 19, 2012 5:27am
Quoting Magestic
I would be very careful with that life credo. James always teaches us not to get in the trap of a small account and temptation to open bigger positions. There is a video in guest section of j16 forum (the first one as i remember) where Janes talks about small acounts phycology. His idea is realy strong. Make sure you see that. It changed my phcology.
Where is the guest section of this video? And who is this Janes?
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  • #115,791
  • Aug 19, 2012 5:27am Aug 19, 2012 5:27am
Quoting ghous
hey Yomex,

where do you think the 1H pin bar is going?

g.
i m expecting the price to go up, did i get it wrong or missing it
  • #115,792
  • Aug 19, 2012 6:33am Aug 19, 2012 6:33am
Quoting Rosa
Hello,

It is real account, and I know that this is very small deposit, but at this moment I can't put more money because of other projects .
Hmm, you may want to rethink the over leveraging and possibly put the live account on a back burner.

As J16 says, "If you can not trade a demo account successfully for 3 months, there is no way, you are going to be able to trade a live account".

The thing is, there are some very good people just waiting to take your money. A demo account for all intent and purpose is risk free, trade one the same size as you current live account and compound it slowly.
This is not a get rich quick business and why throw away the money.
Save it until you have completed J16s criteria and then trade it well.
  • #115,793
  • Aug 19, 2012 11:06am Aug 19, 2012 11:06am
hi guys!!

it has been a while since my last post here but i always read you!

i've started studying pbt&ca/b method by jarroo and i was wondering: how do you treat friday bar? for example in the following charts there are my favourite opportunities for next week. but are these signal still valid if the close is on friday?
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  • #115,794
  • Aug 19, 2012 11:13am Aug 19, 2012 11:13am
Quoting Gogolak
Hi everyone!

Could someone tell me what mean "mike bar"?

Thanks

Quoting mbqb11
I would be interested to know what a Mike bar is too

Mike(mbqb11) Bar: is a bar that is large in size that is in a direct relationship to a Price Pattern Breakout, Consolidation Breakout or Price Action Formation that could lead to a structural and/or dynamical shift in the market.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #115,795
  • Aug 19, 2012 12:28pm Aug 19, 2012 12:28pm
Quoting yomex_y2
i m expecting the price to go up, did i get it wrong or missing it
What I was basically interested in knowing was if you were looking at the possibility of a bigger move or a just short term trade.

Either ways, the bar you are looking at is pretty small compared to the recent action that brought us down. Furthermore as Mike suggests you must never ignore the bigger picture often pretty obvious on a higher time frame. For instance if you look at the 4H you'll clearly notice how we have trickled down below an important price pivot zone which could easily now hold as resistance without having to surprise you.

You're on the right track in your hunt for PA setups at extreme swing points but its crucial to still have enough factors in favor of the setup to make it all worth it in the pursuit of consistency.

Hope this helps.

g.
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I believe . . .
  • #115,796
  • Aug 19, 2012 12:36pm Aug 19, 2012 12:36pm
Quoting mbqb11
Hey Dave

Where ya been buddy ?

Mike
What's up Mike and SC?!

I've been around , I lurk once in a while even though I don't post.

It's been a busy year and summer has been too fun, despite tearing my ACL in June(playing hoops). Having surgery in September. SUCKS!

Overall trading has been good to me this year as well. :-)

All good on your guys' end?
  • #115,797
  • Aug 19, 2012 12:49pm Aug 19, 2012 12:49pm
AUDCHF daily

last day - PBT&CB - price breaks through & closes below 1.0160
1.0160 is LCS
So, I am waiting for retest this level and I will sell.
What is your opinion about this pair?
thanks
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  • #115,798
  • Aug 19, 2012 1:30pm Aug 19, 2012 1:30pm
Quoting eXtreme
AUDCHF daily

last day - PBT&CB - price breaks through & closes below 1.0160
1.0160 is LCS
So, I am waiting for retest this level and I will sell.
What is your opinion about this pair?
thanks
Here is my concern. AUDUSD is reaching the point where the price can go either way. So, I would very much hesitate to take a position in AUDCHF, too.

Hope it helps
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  • #115,799
  • Aug 19, 2012 2:14pm Aug 19, 2012 2:14pm
Quoting Forexgogo
Here is my concern. AUDUSD is reaching the point where the price can go either way. So, I would very much hesitate to take a position in AUDCHF, too.

Hope it helps
Different person - different view I'm gonna go short on Audusd, I like a "momentum loss" (price made a "round shape" - easier to spot on lower tf) in top of movement, nice lvl, beob (with close below "round" 1.05)...

cheers
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  • #115,800
  • Aug 19, 2012 2:31pm Aug 19, 2012 2:31pm
Quoting rafstraszek
Different person - different view I'm gonna go short on Audusd, I like a "momentum loss" (price made a "round shape" - easier to spot on lower tf) in top of movement, nice lvl, beob (with close below "round" 1.05)...

cheers
I agree with you saying the price going down, but don't know "when." As Ghous post #115816 points out on his chart, the price would not go down right away. Or the price would go down right away as you say.

Either way, the price is likely to go down eventually. I just think it is not going to be a clear movement because this is going to be a major trend change if the price goes down under EMA200 (see my chart the green line).

Good luck
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