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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

  • #116,981
  • Aug 31, 2012 8:39am Aug 31, 2012 8:39am
Guys!
I would like to say thank you to EVERYBODY from this thread. Im trading (learning) since last september and this is my first month with profit just because i use this Jarroo' s method.
If its going like this, maybe i could try with a real account from next year!
Mától én vagyok a Soros!
  • #116,982
  • Aug 31, 2012 8:44am Aug 31, 2012 8:44am
simple confluenced trade


Massive descending Trendline(how many ways could you draw it?)

BRN

BUob closes over both

Profit at the major swing low
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  • #116,983
  • Aug 31, 2012 8:46am Aug 31, 2012 8:46am
Quoting mbqb11
simple confluenced trade


Massive descending Trendline(how many ways could you draw it?)

BRN

BUob closes over both

Profit at the major swing low
Love those BRNs!
  • #116,984
  • Aug 31, 2012 8:51am Aug 31, 2012 8:51am
Interesting how the bounce from daily HCR melds nicely with Mikes price action trade.
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  • #116,985
  • Aug 31, 2012 9:05am Aug 31, 2012 9:05am
Quoting Winston Reed
Interesting how the bounce from daily HCR melds nicely with Mikes price action trade.
That would have been a loss on July 4th? I'm guessing there we should have went long on PBT CA and retest it on July 4 -ish. Am i wrong?
I don't need easy. I just need possible.
  • #116,986
  • Aug 31, 2012 9:07am Aug 31, 2012 9:07am
Just took this set up.
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  • #116,987
  • Aug 31, 2012 9:08am Aug 31, 2012 9:08am
all kinds of stuff going on here, cant wait to see what happens next...?
Attached Image
Many choose unhappiness over uncertainty.
  • #116,988
  • Aug 31, 2012 9:13am Aug 31, 2012 9:13am
Quoting Dan Gilbert
all kinds of stuff going on here, cant wait to see what happens next...?
I think this move/break up was just a retest of a daily LCS My guess...
I don't need easy. I just need possible.
  • #116,989
  • Aug 31, 2012 9:13am Aug 31, 2012 9:13am
EURCAD and NZDUSD .................
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  • #116,990
  • Aug 31, 2012 9:15am Aug 31, 2012 9:15am
Quoting Dan Gilbert
all kinds of stuff going on here, cant wait to see what happens next...?
the perfect storm, friday, option expiration, end of month redemption, price action rules !
  • #116,991
  • Aug 31, 2012 9:25am Aug 31, 2012 9:25am
if we can master on today's market condition ............ we can be perfect on all market condition........
  • #116,992
  • Aug 31, 2012 9:26am Aug 31, 2012 9:26am
Quoting Munal
EURCAD and NZDUSD .................
Nice entries. Can you explain why you entered short on the first one? The EURCAD.

Thanks!
I don't need easy. I just need possible.
  • #116,993
  • Aug 31, 2012 9:31am Aug 31, 2012 9:31am
Quoting mbqb11
the perfect storm, friday, option expiration, end of month redemption, price action rules !
+ bernanke speaks....
meine augen sind die sterne
  • #116,994
  • Aug 31, 2012 9:33am Aug 31, 2012 9:33am
Quoting mbqb11
the perfect storm, friday, option expiration, end of month redemption, price action rules !
well it should keep going down if my short on A/U is at all correct...

NZD/CHF still going too
Many choose unhappiness over uncertainty.
  • #116,995
  • Aug 31, 2012 9:49am Aug 31, 2012 9:49am
Quoting DaGrizlyBull
Nice entries. Can you explain why you entered short on the first one? The EURCAD.

Thanks!
Hi DaGrizly

Well 249x area was strong for me, if u check my chart you can see break retest and fail again it revisited same area formed as DBHLC for me at same area so i thought the seller was there on today's test and i shorted it........
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  • #116,996
  • Aug 31, 2012 10:55am Aug 31, 2012 10:55am
I made a little Skype group for anyone interested in chatting PBT.
PM me your id's so i can add you if you are interested .
If it's against the rules, I'll delete this post
I don't need easy. I just need possible.
  • #116,997
  • Edited 11:43am Aug 31, 2012 11:19am | Edited 11:43am
If this closes within the upper area of yesterdays bar, how does a long trade look if Sunday goes above the high?

- The tail is large compared to previous tails.
- I see support at BRN of 0.9600 that coincides with a PPZ area.
- There is some room to move up to last weeks highs.

I see congestion at the beginning of the month, but price looked like it moved smoothly through that area the last two times so maybe that's washed out.

Any thoughts?
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  • #116,998
  • Aug 31, 2012 1:47pm Aug 31, 2012 1:47pm
What would you guys do in this situation?

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I don't need easy. I just need possible.
  • #116,999
  • Aug 31, 2012 2:07pm Aug 31, 2012 2:07pm
Quoting DaGrizlyBull
What would you guys do in this situation?

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I think I'd be looking at a short on a retouch of that line since it looks to be coming off the top of a channel and putting in new LHs and LLs. It was rejected pretty strongly at 0.7975, but if you find some PA to get you in at the right location, there is plenty of room to take a smaller trade or partial profit and get to break even.

That's just my interpretation. I'm very new to this so it'd probably be best not to weigh my analysis to heavily.
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  • #117,000
  • Aug 31, 2012 2:46pm Aug 31, 2012 2:46pm
Quoting mbqb11
simple confluenced trade


Massive descending Trendline(how many ways could you draw it?)

BRN

BUob closes over both

Profit at the major swing low
I am still afraid of these without divergence, but man... you nailed the sh*t of it.
On a friday the end of month!
I admire !
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