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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

  • #117,281
  • Sep 4, 2012 5:18am Sep 4, 2012 5:18am
Quoting freeze
Notice how well it worked out along with your PBT method.


Pretty impressive, would you explain to us your thinking behind some of the nontraditional entries? Thanks.
Quoting Gogolak
Hi Chanya,
Great job!
Can you explain for me which system you used when opened those trades?
I dont see any signals of the 1st, 2nd, 4th, 5th, 8th,
the 3rd, 6th, 7th i understand.

and please tell me what LVL mean?
Thanks!
G

5 of them were just basic PBT entries ... Other three , Don't worry about them ... Its something I do that is not related to this thread ...

Here is what you should do , Open an AUD CHF chart ... Open monthly first , draw its levels , drop down to weekly , draw its levels and then come down to daily and draw daily levels ... Notice a PBT of each of them on daily and your questions will be answered by yourself ... It would be a nice exercise ... If still having trouble , ask again ... I will elaborate ...
Human
  • #117,282
  • Sep 4, 2012 5:23am Sep 4, 2012 5:23am
Plenty of orders missed last night by just few pips ... I hate it when this happens ...

NZD CAD

EUR NZD

GBP NZD

I may start to use buffer from now on ....
Human
  • #117,283
  • Sep 4, 2012 5:28am Sep 4, 2012 5:28am
Quoting Chanya
Plenty of orders missed last night by just few pips ... I hate it when this happens ...

NZD CAD

EUR NZD

GBP NZD

I may start to use buffer from now on ....
...I hate more when I'm in trade, move to be, price hit my sl and than go with my direction....

Like today on nzdjpy be
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  • #117,284
  • Sep 4, 2012 5:30am Sep 4, 2012 5:30am
Quoting rafstraszek
...I hate more when I'm in trade, move to be, price hit my sl and than go with my direction....

Like today on nzdjpy be
Where and why did you move to BE ??? I am not at BE yet ...
Human
  • #117,285
  • Sep 4, 2012 5:39am Sep 4, 2012 5:39am
Quoting Chanya
Where and why did you move to BE ??? I am not at BE yet ...
yellow one

Weren't you saying to watch wicks, when moving to be?? Maybe I'm going to much in past in looking for fta?? And I should use more recent ones? Where did you put your be??

thanks
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  • #117,286
  • Sep 4, 2012 5:46am Sep 4, 2012 5:46am
is this right false break to go down ?
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Investing is SIMPLE but NOT EASY
  • #117,287
  • Sep 4, 2012 5:52am Sep 4, 2012 5:52am
Quoting Chanya
Here is what you should do , Open an AUD CHF chart ... Open monthly first , draw its levels , drop down to weekly , draw its levels and then come down to daily and draw daily levels ... Notice a PBT of each of them on daily and your questions will be answered by yourself ... It would be a nice exercise ... If still having trouble , ask again ... I will elaborate ...
I did this little exercise, but ended up with way too many lines, not all of them worked that well. Could you put up an explaining chart, or maybe elaborate on where you put your stop-losses on entries?
  • #117,288
  • Sep 4, 2012 5:58am Sep 4, 2012 5:58am
Quoting freeze
I did this little exercise, but ended up with way too many lines, not all of them worked that well. Could you put up an explaining chart, or maybe elaborate on where you put your stop-losses on entries?
Draw them as you think is right and give us a chart - we will see. Without it is hard to tell if you doing it wrong/good

take care
  • #117,289
  • Sep 4, 2012 6:13am Sep 4, 2012 6:13am
EUR/AUD

great location to look for PA: 50 Fib and PPZ, now we need a mike bar

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  • #117,290
  • Sep 4, 2012 6:18am Sep 4, 2012 6:18am
This is my shot at this, I've only drawn the most recent, closest ones, relevant to Chanya's recent trade.
AudChf Monthly, Weekly, Daily, Combined.
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  • #117,291
  • Sep 4, 2012 6:22am Sep 4, 2012 6:22am
EUR/USD

very nice chart, i am sure mike would love this one

BRN, PPZ, TL , momentum loss and forming a pin...did we need more confirmation?

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  • #117,292
  • Sep 4, 2012 6:34am Sep 4, 2012 6:34am
Quoting Moly_Cam5
is this right false break to go down ?
hi guys im newbie here ,, can i have little help ?
Investing is SIMPLE but NOT EASY
  • #117,293
  • Sep 4, 2012 6:52am Sep 4, 2012 6:52am
Quoting Chanya
5 of them were just basic PBT entries ... Other three , Don't worry about them ... Its something I do that is not related to this thread ...

Here is what you should do , Open an AUD CHF chart ... Open monthly first , draw its levels , drop down to weekly , draw its levels and then come down to daily and draw daily levels ... Notice a PBT of each of them on daily and your questions will be answered by yourself ... It would be a nice exercise ... If still having trouble , ask again ... I will elaborate ...
I see! Very smart! So, you opened each TF's PBT...

What LVL means?
Mától én vagyok a Soros!
  • #117,294
  • Sep 4, 2012 7:27am Sep 4, 2012 7:27am
Quoting 0421
look on this chart in this way...
You don't say.

Are you under the impression I did not know this?
  • #117,295
  • Sep 4, 2012 7:43am Sep 4, 2012 7:43am
Hi there,

done some charting, I would love to have some feedback on

1. AUDCHF.
- Monthly & weekly PPZ
- RN 0.98
- down trend
- 150EMA & 50% retracement
- if close as is (I know, it still can change ) small bullish pinbar
Either the bar does not close as a pinbar, in which case I won't enter, or it does.
In that case, I would consider 2 options:
(1) bar small but still valid (confluence EMA & 50% ret) -> long above 0.98 if broken.
(2) bar too small against the current down trend -> PBTCB 0.977 and short.
In both cases, I would say there is some space to move(is there, Mike?? )

2. USDNOK
- RN 5.800
- PBT&CB weekly and daily HCR, already retested.
- in a down trend.
- D1 Inside bar (inside bar broken but not previous one).
This set up is not at a swing point, which bothers me.
Would think of playing it as a trend continuation, targeting 5.72...

3. NZDSGD:
- Price trapped between D & W HCR/LCS at 0.99 & 1.16.
- Price currently at swing low.
Either PBTCB 0.99 (short to 0.9860 and 0.9760), or it fails to do so (possible long in traffic, targeting 0.9985 and above).

thanks Bullzeye for your analysis on EUR/AUD, and to Chanya for yours on CHF/JPY, I was more or less on the same tracks :cool - makes me feel good

Thanks all of you for your help!!

Quoting bullzeye
EUR/AUD

great location to look for PA: 50 Fib and PPZ, now we need a mike bar

Attachment
Quoting Chanya
Something I am looking at
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Slow & steady
  • #117,296
  • Edited 8:02am Sep 4, 2012 7:51am | Edited 8:02am
Chanya, are you going to buy at yellow on eurcad?? Do you have pending order?? We had pbt&ca, but price didn't retested yet...I don't feel confident in situation like this - when price is retesting after many days...especially when price met other hcr/lcs in her way...
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  • #117,297
  • Sep 4, 2012 7:52am Sep 4, 2012 7:52am
Quoting Chanya
I have no Idea what is meant by what you just said but I think its gonna be a triple bottom formation so I just placed a buy deal there with just 9 pip stop loss ... Minor Risk , Greater reward ...
I was thinking the exact same thing Chanya!
  • #117,298
  • Sep 4, 2012 8:19am Sep 4, 2012 8:19am
A nice large daily PB here closing above this 0.7600 level would be nice.
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  • #117,299
  • Sep 4, 2012 8:41am Sep 4, 2012 8:41am
Quoting Magestic
Mike, would you be so kind to share your experience in sideways market. I mean I understood your concept of trading out of consolidation areas. But I bet u trade inside these areas also. How do u feel it? What are thing we should be aware of? I mean we often see market boxing and price respects S and R of this box. Do u use this. This is the example of USD/CAD. Is it tradeble inside the box for u, and how? What do u seek when u trade this kind of market not outside but inside the box? Maybe you have a good example? Thank you.
Hey M

Your chart and understanding is great here.

Box trading for some is their most favorite. Because until price breaks from it's range it will continue to range and present opportunities off the highs and lows of our box.

The biggest issue to understand is that you ARE in consolidation and thus price is likely to bounce around making trade mgmt tougher.

When I trade in a box I usually look for one major thing. A very LARGE box. This why although price might be ranging it offers better opportunities that tend to last longer when we find PA.

James always says if you can't learn or understand to trade a ranging market you are dead in the water. Being able to spot a box as simple as this is great. It also give us a place to watch for PA if we break out right?

What is a PPZ? A flip b/w S/R

I think generally its easier for new traders to look for PA at clear swing points like my post on the monthly stock. Box trading becomes more difficult for most new traders

Best
Mike
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  • #117,300
  • Sep 4, 2012 8:49am Sep 4, 2012 8:49am
Quoting Moly_Cam5
hi guys im newbie here ,, can i have little help ?
Hey Moly

Welcome to the thread

Yes that can be a sign of a false breakout. Notice that IB is trading into that price flip(PPZ) that you marked in blue). Price may now want to test the lowr box(the other blue line you marked). A bit more advanced though for being new, but good observation none the less

Welcome again to the thread
Mike
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