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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

  • #117,501
  • Sep 5, 2012 5:06pm Sep 5, 2012 5:06pm
Quoting jarroo
Yes it may do the same on the EurCad at the 1.2414.

The GbpUsd looks good for going up.

Good eye brzvadeg . .
good graphics in a folder "Jarroo" on my desktop.
  • #117,502
  • Sep 5, 2012 5:11pm Sep 5, 2012 5:11pm
Quoting brzvadeg
good graphics in a folder "Jarroo" on my desktop.

lol I have "James16" and "Mike" folder too. I have to admitt, my Jarroo folder is quite big.


Did you notice that if you took that GbpUsd trade, it would have been the Low of the Day . . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,503
  • Sep 5, 2012 5:21pm Sep 5, 2012 5:21pm
Quoting jarroo
lol I have "James16" and "Mike" folder too. I have to admitt, my Jarroo folder is quite big.


Did you notice that it you took that GbpUsd trade, it would have been the Low of the Day . . .
I have folder(Jarroo,mbqb11,James16,chanya). I do not understand how the low of the day you say.
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  • #117,504
  • Sep 5, 2012 5:26pm Sep 5, 2012 5:26pm
Quoting brzvadeg
I have folder(Jarroo,mbqb11,James16,chanya). I do not understand how the low of the day you say.
This little HCR at 1.5830. Its not that clear but its there.
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Indicators show the past. Price Action "Indicates" the future.
  • #117,505
  • Sep 5, 2012 5:31pm Sep 5, 2012 5:31pm
Quoting jarroo
This little HCR at 1.5830. Its not that clear but its there.
Yes, the level is not very good, compared to the euro which strayed, but it worked after all
  • #117,506
  • Sep 5, 2012 5:47pm Sep 5, 2012 5:47pm
Quoting Slider20
Mike, isn't this pinbar weak? And we also have two closes below RN 1.0100? I see signals both directions. How do you handle this?
It's a tricky pinbar if you don't have the story. I don't necessarily play this. i want people to understand whats going on. Beyond just here is price closing above a level. It's look at the box level off the BRN. Look at price retesting the top of the box and closing above the box. Look at price having a gap to close. Look at the left eye for trade mgmt. This is how you formulate a story so you can start to finish manage and trade. What I see people mess up is they only do one in the entire story.

Now if we had a much larger nose bar, then this is a homerun trade A++. But that doesn't make a trade unplayable if the story is good.

Things should come in steps for people. Most people take any method and try to do everything at once. This is a tough road. If you take things slowly wait for all the good pieces it's easier and you build from there

Best
Mike
  • #117,507
  • Sep 5, 2012 6:03pm Sep 5, 2012 6:03pm
Quoting mbqb11
It's a tricky pinbar if you don't have the story. I don't necessarily play this. i want people to understand whats going on. Beyond just here is price closing above a level. It's look at the box level off the BRN. Look at price retesting the top of the box and closing above the box. Look at price having a gap to close. Look at the left eye for trade mgmt. This is how you formulate a story so you can start to finish manage and trade. What I see people mess up is they only do one in the entire story.

Now if we had a much larger nose bar,...
I see. In this case then, I'd be looking for it to definitively clear the pinbar, top of box, and BRN before I'd even consider entering. Thanks, that makes more sense to me than just the pinbar.
  • #117,508
  • Sep 5, 2012 6:11pm Sep 5, 2012 6:11pm
Quoting jarroo
So 0421 . .How did it work out? Did you watch it?

Looks like there was of a bit draw down but our S/L wasn't hit.

Now the daily has closed above our level . time to get out . S/L was 35 pips and we are out at 2 pips.
but there seems to be a strong weekly resistance at 1.241329, price hit it 4 times
  • #117,509
  • Sep 5, 2012 6:59pm Sep 5, 2012 6:59pm
There are still people out there who trades like this and never listens ...

http://www.forexfactory.com/showthre...03#post5988203
Human
  • #117,510
  • Sep 5, 2012 7:30pm Sep 5, 2012 7:30pm
Great confluence on GBPNZD - 50% retracement, BRN (double parity), 365 daily ema. No wonder price has stalled
The story is there for me, now to wait for PA. Currently looking for bearish pa, a nice pin or outside bar on daily or outside bar on 4H. Given strength of upmove, a bullish outside bar wouldn't surprise me either.
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  • #117,511
  • Sep 5, 2012 7:37pm Sep 5, 2012 7:37pm
watching audjpy....space to the dwonside. BRN 80 has been broken, but not convincingly.
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  • #117,512
  • Edited Sep 6, 2012 6:25am Sep 5, 2012 8:25pm | Edited Sep 6, 2012 6:25am
Quoting jarroo
So 0421 . .How did it work out? Did you watch it?

Looks like there was of a bit draw down but our S/L wasn't hit.

Now the daily has closed above our level . time to get out . S/L was 35 pips and we are out at 2 pips.
Yes You have right... i like this confirmaction. but i have another question to you jarroo: what about divergence, do you look at this?? this is a situaction on GOLD.

THX.

chart:
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  • #117,513
  • Sep 5, 2012 9:07pm Sep 5, 2012 9:07pm
Good to trade? H1 chart, BUOB reject by round number. inline with Daily upward trend line.

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  • #117,514
  • Sep 5, 2012 9:31pm Sep 5, 2012 9:31pm
Quoting hehesam
Good to trade? H1 chart, BUOB reject by round number. inline with Daily upward trend line.

Attachment
Good size bar(off market time though) good areas to manage a trade

see chart

Best
Mike
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  • #117,515
  • Sep 5, 2012 9:33pm Sep 5, 2012 9:33pm
Quoting jarroo
lol I have "James16" and "Mike" folder too. I have to admitt, my Jarroo folder is quite big.
Quoting brzvadeg
I have folder(Jarroo,mbqb11,James16,chanya). I do not understand how the low of the day you say.
Just starting to build mine.... any chance of taking a peek at either of yours. I might need a larger hard drive. Truthfully I just appreciate how much all of you are willing to help. Things are startig to make a bit more sence because of that. Thanks!!!
  • #117,516
  • Sep 5, 2012 9:51pm Sep 5, 2012 9:51pm
Hi sir mike...

Took a trade in AUDJPY. A nice BUOB

Have a question :
1. Is my drawing trendline already right ?
2. Is my TP place realistic ?
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  • #117,517
  • Sep 5, 2012 10:58pm Sep 5, 2012 10:58pm
Quoting gadogado
Hi sir mike...

Took a trade in AUDJPY. A nice BUOB

Have a question :
1. Is my drawing trendline already right ?
2. Is my TP place realistic ?

Looks like a Mike Bar to me . . . relative to the Hourly TF . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,518
  • Sep 5, 2012 11:04pm Sep 5, 2012 11:04pm
Quoting fortunateson
Just starting to build mine.... any chance of taking a peek at either of yours. I might need a larger hard drive. Truthfully I just appreciate how much all of you are willing to help. Things are startig to make a bit more sence because of that. Thanks!!!
Thanks fortunaeson . . There are many many more charts of mine in this great Thread than in my desktop folder. Just click the paper clip in my profile . .unfortunately there are many charts of mine in this thread that I want to delete . .lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #117,519
  • Edited 11:44pm Sep 5, 2012 11:19pm | Edited 11:44pm
Quoting Donkey
Great confluence on GBPNZD - 50% retracement, BRN (double parity), 365 daily ema. No wonder price has stalled
The story is there for me, now to wait for PA. Currently looking for bearish pa, a nice pin or outside bar on daily or outside bar on 4H. Given strength of upmove, a bullish outside bar wouldn't surprise me either.

Great level D. ..It sure doesn't look like its bamming down from here. . .it should go down hard from here . .what a strong confluenced level . .the uptrend sure looks strong.

I agree . .Price taking out the previous Day's Low and then closing above the 2.0 forming a pinnish looking BUOB . .nice. . .
Indicators show the past. Price Action "Indicates" the future.
  • #117,520
  • Sep 5, 2012 11:21pm Sep 5, 2012 11:21pm
Quoting jarroo
Looks like a Mike Bar to me . . . relative to the Hourly TF . .
Hi sir...

Hope it like sir mike trading method...

And it also supported by LCS Daily (a green line). Hope can combine successfully the two great methods.
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