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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

  • #116,721
  • Aug 29, 2012 8:48am Aug 29, 2012 8:48am
Quoting Pinbar
Mike has a gazillion dollar account to not worry about the spread. LOL
Well spread is important but it depends on your stop size for me. If we have a larger stop the spread can play less of a role. A tight stop and spread becomes very important

Simple example is a pair I might trade daily/weekly I won't trade on the hourly cause spread is too high of a factor

Mike
  • #116,722
  • Aug 29, 2012 8:49am Aug 29, 2012 8:49am
Second post here, Jaroo and Mike great tuitors . Took this trade today and managed 60 pips - there was more but the euro is unpredictable at the moment.
Took it off the wkly LCS and daily LCS - my view anyway. I have gone done to the 4 hour chart for clarity.
What is the view on the "daily pin" that may be forming, would this be another oppurtunity to short?
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  • #116,723
  • Aug 29, 2012 9:13am Aug 29, 2012 9:13am
Quoting moneyrunner
Second post here, Jaroo and Mike great tuitors . Took this trade today and managed 60 pips - there was more but the euro is unpredictable at the moment.
Took it off the wkly LCS and daily LCS - my view anyway. I have gone done to the 4 hour chart for clarity.
What is the view on the "daily pin" that may be forming, would this be another oppurtunity to short?
Hey Money

Glad you are finding things useful

I don't see any pin on the daily, its a very very very tiny bar with not a very long nose. We want to look for the good large clean ones or the ones that jump out.

Check out the usd/sek from yesterday nice long nose with nice confluence as well

http://www.forexfactory.com/showthre...69#post5967069

Best
Mike
  • #116,724
  • Aug 29, 2012 9:13am Aug 29, 2012 9:13am
Quoting PhAnTi'
well said....

anyway, couldn't resist :



http://www.forexfactory.com/showthre...33#post4364133

That is almost third time you have made me go to that dumb post ...
Human
  • #116,725
  • Aug 29, 2012 9:17am Aug 29, 2012 9:17am
Quoting jarroo
I agree about the spreads as well . .but as far as crazy crosses goes this one is up there . .but still very tradeable.

much like the UsdLvl (Latvian) .
I have seen this cross nowhere except when you post it and I think one can be multi millionaire this this pair alone ... You know how ??? At the beginning of each candle , buy and put a take profit at 50 pips .... Guaranteed winnerS ... A hooooollllyyyy Grrraaaillll at last ...
Human
  • #116,726
  • Aug 29, 2012 9:20am Aug 29, 2012 9:20am
actually i posted this in my thread, but it really fits the J16 stuff.... thought i'd share it here as well.....

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best,
Jonas
Hero calls followed by margin calls...
  • #116,727
  • Aug 29, 2012 9:20am Aug 29, 2012 9:20am
Quoting Chanya
That is almost third time you have made me go to that dumb post ...
haha to be continued
Hero calls followed by margin calls...
  • #116,728
  • Aug 29, 2012 9:27am Aug 29, 2012 9:27am
Quoting PhAnTi'
actually i posted this in my thread, but it really fits the J16 stuff.... thought i'd share it here as well.....

Attachment


best,
Jonas
space! the final frontier !


Learning Space is when the wheels began to click for me long ago


Mike
  • #116,729
  • Aug 29, 2012 9:36am Aug 29, 2012 9:36am
Quoting PhAnTi'
actually i posted this in my thread, but it really fits the J16 stuff.... thought i'd share it here as well.....

Attachment


best,
Jonas
I love your grasp on Price action.

its a pleasure to have you with the group Jonas

*respect*

g.
I believe . . .
  • #116,730
  • Aug 29, 2012 9:40am Aug 29, 2012 9:40am
Quoting ghous
I love your grasp on Price action.
Dude , He has 12600 posts ... I am sure those all have not been smileys ... Right Jonas ???
Human
  • #116,731
  • Aug 29, 2012 9:40am Aug 29, 2012 9:40am
Quoting Chanya
That is almost third time you have made me go to that dumb post ...
Dumb?? Don't you mock the Stars.
I don't need easy. I just need possible.
  • #116,732
  • Aug 29, 2012 9:41am Aug 29, 2012 9:41am
Quoting DaGrizlyBull
Dumb?? Don't you mock the Stars.
My Bad ... Sorry stars ...
Human
  • #116,733
  • Aug 29, 2012 9:45am Aug 29, 2012 9:45am
Space!
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  • #116,734
  • Aug 29, 2012 9:47am Aug 29, 2012 9:47am
Quoting mbqb11
usd/sek daily pin/buob

doesn't this one look familiar?

http://www.forexfactory.com/showthre...19#post5949619
hey mike, what exactly have you labeled as divergence there? I see no MACD, I know there are different types of divergence but what are you referring to here?
  • #116,735
  • Aug 29, 2012 9:49am Aug 29, 2012 9:49am
Quoting deltaskelta
hey mike, what exactly have you labeled as divergence there? I see no MACD, I know there are different types of divergence but what are you referring to here?
He can spot divergence without an indicator .... Experience ... He has explained it before how to ... Its called loss of momentum I guess ...
Human
  • #116,736
  • Aug 29, 2012 9:51am Aug 29, 2012 9:51am
Quoting DaGrizlyBull
Hey Pinbar,

I'm new to Jaroo's strategy, but would this have been a legit setup?

Attachment
UMMMM... maybe I have misunderstood this to the core, but isnt the first picture there pretty standard PBT&CB and then retests as resistance and falls from there?

it looks pretty identical to the picture you drew to me...?

EDIT: meant to quote this post as well ^^^^^^

Quoting Pinbar
Not really.
We are waiting till price closes below this area on the daily, pulls back to it and shows us a sign that the area has flipped from former support to resistance. Like in this chart.
  • #116,737
  • Aug 29, 2012 9:52am Aug 29, 2012 9:52am
Quoting deltaskelta
hey mike, what exactly have you labeled as divergence there? I see no MACD, I know there are different types of divergence but what are you referring to here?
Hey Delta

I am sorry I should have put up the MACD it was early


Here ya go notice the divergence

Best
Mike
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  • #116,738
  • Aug 29, 2012 9:53am Aug 29, 2012 9:53am
Quoting Chanya
Dude , He has 12600 posts ... I am sure those all have not been smileys ... Right Jonas ???
well, there were a couple

...

maybe another helpful stuff on price action.

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Price returned to our demand area, then we got a bullish engulfing outsidebar at 1. and reversed back up for several weeks. Then price returned again at this demand level. We did get heavy regular bullish divergence + bullish pinbar and a bullish continuation pattern, enough indicators for a possible reversal to buy again even if it is the 2nd test at this area. A area gets weaker, but unless it isn't broken to the other side it is still intact. Also see that price could go deepe rinto the demand level itself at the second retest = confirmation of first retest. Buy orders got consumed at 1. and we then had less buy orders at 2. Price could go lower into the zone to pick up more buy orders that were left lower in the zone.Now we go up again.
Hero calls followed by margin calls...
  • #116,739
  • Aug 29, 2012 9:55am Aug 29, 2012 9:55am
Quoting deltaskelta
hey mike, what exactly have you labeled as divergence there? I see no MACD, I know there are different types of divergence but what are you referring to here?
dont wanna advertise anything here... but you might take a look into my e-book... there's a lot of stuff about regular and hidden bearish & bullish divergence in it.... guess it'll help you to spot it yourself in the future since divergence is a very powerful tool whenever we combine it with supply/demand and buobs/beobs.

best,
Jonas
Hero calls followed by margin calls...
  • #116,740
  • Aug 29, 2012 9:57am Aug 29, 2012 9:57am
Quoting deltaskelta
UMMMM... maybe I have misunderstood this to the core, but isnt the first picture there pretty standard PBT&CB and then retests as resistance and falls from there?

it looks pretty identical to the picture you drew to me...?

EDIT: meant to quote this post as well ^^^^^^
In that screenshot, he highlited another PBT CB, a more recent one (in progress now, awaiting retest). The one i pointed out already developed.
I don't need easy. I just need possible.
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