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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

  • #115,821
  • Aug 20, 2012 6:14am Aug 20, 2012 6:14am
Here is a nice looking multi bar high breakout
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  • #115,822
  • Aug 20, 2012 6:53am Aug 20, 2012 6:53am
Quoting Pinbar
Hmm, Let's see if it will hold with a tight stop.
Took me out for a small loss.
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  • #115,823
  • Aug 20, 2012 8:34am Aug 20, 2012 8:34am
Quoting Rosa
Hello,

Buy aud/usd. There was HCR, then PBT&CA, last friday there was come back to this level, and now on open of market I take long at this pair. SL below PBT&CA candle, set BE at previous LCS level, no target at this moment.
THis is why looking at weekly levels is important. On my chart this pair has closed below weekly level and is currently flirting with that level. The daily level below I think may be just a pit stop to lower moves. I'm not sure how Jaroo plays this but I trade in the direction of the weekly.
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  • #115,824
  • Aug 20, 2012 8:49am Aug 20, 2012 8:49am
Hello,

Thanks, I go in short where price came into my LCS daily level. I see what you mean, but in your chart there is very small break through but in my (alpari) chart there is bigger break .

Quoting Winston Reed
THis is why looking at weekly levels is important. On my chart this pair has closed below weekly level and is currently flirting with that level. The daily level below I think may be just a pit stop to lower moves. I'm not sure how Jaroo plays this but I trade in the direction of the weekly.
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  • #115,825
  • Aug 20, 2012 9:58am Aug 20, 2012 9:58am
Quoting mbqb11
Here is a nice looking multi bar high breakout
i am still looking for a way to reduce my time for scanning the markets for these setups. therefore i like to ask you how you do it. thanks
meine augen sind die sterne
  • #115,826
  • Aug 20, 2012 10:06am Aug 20, 2012 10:06am
Hello Every One ... I hope Every one ( Who is concerned ) is having a great EID ... I just can't stay away from the chart ... Even today ... Took a trade ( In addition to the other ones but this one's special I think ) I am pretty confident about and have place in an order bigger then usual but still with tight stops ... Chart below ... Lets see how it plays out ...
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Human
  • #115,827
  • Aug 20, 2012 10:44am Aug 20, 2012 10:44am
Quoting RonaldinhoKuban
Jarroo, question for you on chart
Please explain an example from my post.
Thanks
  • #115,828
  • Aug 20, 2012 10:45am Aug 20, 2012 10:45am
Quoting aserbfx
i am still looking for a way to reduce my time for scanning the markets for these setups. therefore i like to ask you how you do it. thanks
Hey Aser

I basically just open two charts at once through TOS and just quickly flick back and forth. I can run through a lot of charts pretty quick, but I don't have a scanner or anything like that. Never found ones I thought were reliable enough like the eye can be. I can run through a few thousand stocks in a few hours

Mike
  • #115,829
  • Aug 20, 2012 11:05am Aug 20, 2012 11:05am
Here's a story I'm projecting onto the market right now, however may be proven to be incorrect. Seems like I'm always looking for a lower time frame way to get into a higher time frame move, if that makes sense. :-)
Sorry if these charts take up too much space, this 30 inch Dell monitor has too many damn pixels, lol. I love it though -would definitely recommend.
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Price is beautiful. A repetitive method is a competitive method.
  • #115,830
  • Aug 20, 2012 11:19am Aug 20, 2012 11:19am
Quoting mbqb11
Hey Aser

I basically just open two charts at once through TOS and just quickly flick back and forth. I can run through a lot of charts pretty quick, but I don't have a scanner or anything like that. Never found ones I thought were reliable enough like the eye can be. I can run through a few thousand stocks in a few hours

Mike
Mike , you also trade stocks ??? I have seen the charts of stocks of alot of them but I never really felt like trading them because there is alot of unpredictability ... SOOO many gaps at unexpected times ... CHOP ... Not discipline like forex markets ... How do you manage them ??? Regularly ???
Human
  • #115,831
  • Aug 20, 2012 11:35am Aug 20, 2012 11:35am
Mike I would like to scan more daily charts and not only forex. I tried to watch stocks but there are quite big gaps as Chanya said.Can you please tell me what do you watch on daily timeframes beside forex or what is great to watch?
  • #115,832
  • Aug 20, 2012 11:43am Aug 20, 2012 11:43am
Quoting Martin600
Mike I would like to scan more daily charts and not only forex. I tried to watch stocks but there are quite big gaps as Chanya said.Can you please tell me what do you watch on daily timeframes beside forex or what is great to watch?
Hey Martin

I don't view many stocks on daily charts for that reason. Once in awhile(some stocks don't have a lot of gaps those are ok). I think equities are easiest to decipher technically from a weekly and higher standpoint. This is what I do myself

Best
Mike
  • #115,833
  • Aug 20, 2012 11:43am Aug 20, 2012 11:43am
Quoting Chanya
Hello Every One ... I hope Every one ( Who is concerned ) is having a great EID ... I just can't stay away from the chart ... Even today ... Took a trade ( In addition to the other ones but this one's special I think ) I am pretty confident about and have place in an order bigger then usual but still with tight stops ... Chart below ... Lets see how it plays out ...
Price is above the LCS.
What you think?
  • #115,834
  • Aug 20, 2012 12:56pm Aug 20, 2012 12:56pm
Hi, people!
Please comment on my first chart, I’d like to know whether I’m on the right way. I don’ t try get into a trade, just trying to build a story.
- Horizontal lines show the weekly support.
- Blue rectangles show the trouble areas and final target.
So here is my story:
Weekly shows the retest of TL and RN of 1.06 and close below 1.05 in confluence with W support. We can see a nice BEOB there. D shows another DEOB that I would have taken. SL would be above the bar and my sell stop order at 1.045. I close 50% of my position at FTA market with first blue rectangle and move to BE the rest.
Sorry for my English, it’s not my native language.
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  • #115,835
  • Aug 20, 2012 1:26pm Aug 20, 2012 1:26pm
Quoting AustinWilder
Hi, people!
Please comment on my first chart, I’d like to know whether I’m on the right way. I don’ t try get into a trade, just trying to build a story.
- Horizontal lines show the weekly support.
- Blue rectangles show the trouble areas and final target.
So here is my story:
Weekly shows the retest of TL and RN of 1.06 and close below 1.05 in confluence with W support. We can see a nice BEOB there. D shows another DEOB that I would have taken. SL would be above the bar and my sell stop order at 1.045. I close 50% of my position at FTA...
Hey Austin

Most of your chart is very good. I would say though that the beob you should be looking to play is the first beob on the daily chart at the swing high point. Your beob is already near a swing low and is trickier to play. But your analysis is certainly not wrong just wanted to point out the easier location to identify these bars when starting out

Your English is fantastic!

Mike
  • #115,836
  • Aug 20, 2012 2:11pm Aug 20, 2012 2:11pm
Mike

Hello

What is your opinion on the IB AUD / CAD?

We look forward to feedback

Sorry for my bad English
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  • #115,837
  • Aug 20, 2012 2:21pm Aug 20, 2012 2:21pm
Quoting Yehuda Sh
Mike

Hello

What is your opinion on the IB AUD / CAD?

We look forward to feedback

Sorry for my bad English
Hey Yehuda

Not really enough information here for me. Price trending strongly down so this is nothing more then a pause. If price breaks up we know where it is likely to go(see chart). If it breaks down it is trading into a bit more support very close by.

Best
Mike
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  • #115,838
  • Aug 20, 2012 2:26pm Aug 20, 2012 2:26pm
my trades
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all is eternal - this is good news for people who loves bad news
  • #115,839
  • Aug 20, 2012 2:36pm Aug 20, 2012 2:36pm
Hello,

People, I have question , is there any possibility to sort charts windows in mt4 ? I have a little problem to find my pair where alert is on , and need more time to take a setup. Any ideas ?
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  • #115,840
  • Aug 20, 2012 3:00pm Aug 20, 2012 3:00pm
Hello,

Last week I was in short position, but take my profit at LCS level, which was PBT&CB. Today this level was retested and I enter another short position. Everything on chart, best Rosa.
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