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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

  • #115,841
  • Aug 20, 2012 5:16pm Aug 20, 2012 5:16pm
is it going way down ????
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  • #115,842
  • Aug 20, 2012 5:30pm Aug 20, 2012 5:30pm
Quoting Rosa
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 ?
Hey Rosa.
How do you want to sort the charts? To set an alarm to a chart you can use, for example, an indicator price alept.
  • #115,843
  • Aug 20, 2012 7:02pm Aug 20, 2012 7:02pm
Quoting mbqb11
whoa whoa easy there seeking with all the praise, i am just as new as the next guy/gal...just trying to play the game the way it works for me. Definitely shouldn't be in the same boat as the great traders that you mentioned who have been at it a lot longer and better, but I do appreciate the kind words.

I win and I lose, and often I lose more then I win, but the reason I see my profit is because of everything seekinglight said. Just try to be consistent, patient and get in tune with the market. I always ask myself Why? I am doing something.

Many...
Anytime i feel discouraged, i go back to some of mike's post way back in 2007.....the story is now different
  • #115,844
  • Aug 20, 2012 7:19pm Aug 20, 2012 7:19pm
Quoting meshka
my trades
Hey Yogi Bear , nice setups ... I am also in most of them but what is that CADJPY setup based on ??? Because I am short on CADJPY with half the position size as I saw a weak risky setup , but a setup nonetheless ...
Human
  • #115,845
  • Aug 20, 2012 7:52pm Aug 20, 2012 7:52pm
just a continuation trade... because Resistance flipped to Support... so I want to believe that bulls will push it further north.
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all is eternal - this is good news for people who loves bad news
  • #115,846
  • Aug 20, 2012 8:03pm Aug 20, 2012 8:03pm
Here is a Daily BUOB Ascending Triangle Breakout for those of you that trade Silver. Was thinking the best play would be to wait for a break of the daily bar so it is validated and then buy the pullback at the 28.35 are, if that happens.

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  • #115,847
  • Aug 20, 2012 8:25pm Aug 20, 2012 8:25pm
Mike,

I don't see this setup mentioned much anymore, but I noticed it is in Jims first chart and wondered if people still use it as a PA indicator. We have three days with matching highs all within two pipw and each the price closes higher.

Would this be a breakout that you would play or do most stick to the traditional pinbar, BEOB, BUOB in the beginning?

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  • #115,848
  • Aug 20, 2012 8:31pm Aug 20, 2012 8:31pm
Quoting Rosco_P
Mike,

I don't see this setup mentioned much anymore, but I noticed it is in Jims first chart and wondered if people still use it as a PA indicator. We have three days with matching highs all within two pipw and each the price closes higher.

Would this be a breakout that you would play or do most stick to the traditional pinbar, BEOB, BUOB in the beginning?

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Hey Rosco

I just mention multi bar highs today

http://www.forexfactory.com/showthre...82#post5941782

I still want my mutli bar highs/lows in a swing point like my chart. Where yours is in traffic. Doesn't mean they aren't worth watching, but I think again like PA it's easier when you have space to trade into


Best
Mike
  • #115,849
  • Aug 20, 2012 8:34pm Aug 20, 2012 8:34pm
Quoting jarroo
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


Quoting mbqb11
good to know!

Its in the glossary in the back of your book, Mike.

The Story of Price : Market Dynamics and Structural Guide to Profitable Trading . . . By Mike (mbqb11)
Indicators show the past. Price Action "Indicates" the future.
  • #115,850
  • Aug 20, 2012 8:38pm Aug 20, 2012 8:38pm
Lol..I should pay better attention.
  • #115,851
  • Aug 20, 2012 9:06pm Aug 20, 2012 9:06pm
Quoting Rosa
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.
Great trade and spot to take profit at weekly lcs. My thoughts on AudCad...
I see Fridays close as important in that it is within a couple of pips of a current daily lcs, and was the first pull back to that level. the 2 previous hcr and the now 2 daily lcs within 10 pips of each other and all bracketing the RN 1.0300 tell me that 1.0300 is the level to watch. Considering the sharp move down I will wait for the daily close below 1.0300 and consider shorting the pair (although 1.0377 will be tempting if price pulls back to that level).
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  • #115,852
  • Aug 20, 2012 9:16pm Aug 20, 2012 9:16pm
Quoting Donkey
Great trade and spot to take profit at weekly lcs. My thoughts on AudCad...
I see Fridays close as important in that it is within a couple of pips of a current daily lcs, and was the first pull back to that level. the 2 previous hcr and the now 2 daily lcs within 10 pips of each other and all bracketing the RN 1.0300 tell me that 1.0300 is the level to watch. Considering the sharp move down I will wait for the daily close below 1.0300 and consider shorting the pair (although 1.0377 will be tempting if price pulls back to that level).

Great post, D. . .That Weekly LCS 1.0365 might have a say . .damn gaps . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,853
  • Aug 20, 2012 9:20pm Aug 20, 2012 9:20pm
Quoting jarroo
Great post, D. . .That Weekly LCS 1.0365 might have a say . .damn gaps . .

Daily 2 Bar Low and 150 ema confluence with the Weekly level . .
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Indicators show the past. Price Action "Indicates" the future.
  • #115,854
  • Edited 9:33pm Aug 20, 2012 9:30pm | Edited 9:33pm
Quoting jarroo
Great post, D. . .That Weekly LCS 1.0365 might have a say . .damn gaps . .
I know this isn't typical use of retracements, but that damn gap/daily level is also the 50% retracement level of last weeks range.

I imagine you're looking to enter short at the gap, TP at the 1.0300ish, re-enter short if price can close below and pull back to 1.0300ish??
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  • #115,855
  • Aug 20, 2012 9:38pm Aug 20, 2012 9:38pm
Quoting Donkey
I know this isn't typical use of retracements, but that damn gap/daily level is also the 50% retracement level of last weeks range.

I imagine you're looking to enter short at the gap, TP at the 1.0300ish, re-enter short if price can close below and pull back to 1.0300ish??

Yeah ..I like that. If we don't get any Signatures on the Hourly or 4 Hour at that Weekly, (and/or Daily 2 bar low) this puppy is in a strong up trend . .but then it may fall like a rock at the 1.0384 upper gap level . .damn you gaps . .!!! . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,856
  • Edited 10:46pm Aug 20, 2012 9:49pm | Edited 10:46pm
Quoting RonaldinhoKuban
Jarroo, question for you on chart
Quoting dan89
yeah to me it looks like a buy order should of been placed at that level. Jarroo, any advice ?

That's correct RK. You could enter on a touch trade right at the level on a retrace . .or wait until the next bar (after PBT&CA) prints out and see if Price closes above the level on the Daily confirming that the level has flipped to Support. I call it the Dalily Close Confirmation.


The Swissy failed to confirm the level as Support . .it returned to Resistance by closing below our HCR level. (BEOB, Two Day bearish Pin Bar)

GbpAud chart shows the Daily Close Confirmation of Supprt once PBT&CA.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,857
  • Edited 11:21pm Aug 20, 2012 10:59pm | Edited 11:21pm
Quoting dan89
Hi Jarroo. A little confused here, do you mean that these levels that we play often fail in the form of a false breakout ?

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


I probbaly said that statement incorrectly, dan.

What I meant to say is that waiting for Price to Close Above or Below our levels will reveal the true break out instead of false break outs. . . chart.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,858
  • Aug 20, 2012 11:17pm Aug 20, 2012 11:17pm
Quoting ghous
Wish you a happy Eid too Chanya and everyone else who celebrates it.

Let the fireworks begin

g.
Ghous!!! ...

Great pic brother . .

Guns, Guts and Glory, my friend . .
Indicators show the past. Price Action "Indicates" the future.
  • #115,859
  • Aug 20, 2012 11:44pm Aug 20, 2012 11:44pm
Quoting Forexgogo
OK I've joined the short club
Hit the SL -25pips.
  • #115,860
  • Aug 20, 2012 11:45pm Aug 20, 2012 11:45pm
Quoting Rosco_P
Here is a Daily BUOB Ascending Triangle Breakout for those of you that trade Silver. Was thinking the best play would be to wait for a break of the daily bar so it is validated and then buy the pullback at the 28.35 are, if that happens.

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this is a no-trade for me. price is still in the boxes. the one with arrow above is the most important. a close above 30 usd would be interesting.
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meine augen sind die sterne
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