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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

  • #119,421
  • Oct 4, 2012 2:59pm Oct 4, 2012 2:59pm
Quoting aserbfx
verizon is now approaching the resistance-zone at exactly 46.42 usd.
check the volume now in the last 20 min of trading today.
done.
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meine augen sind die sterne
  • #119,422
  • Oct 4, 2012 4:03pm Oct 4, 2012 4:03pm
Looks like this could be headed to parity?
How could we trade this? Do we wait for a pull back to 1.0078 ish and then some PA?
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  • #119,423
  • Oct 4, 2012 4:13pm Oct 4, 2012 4:13pm
Quoting erublycuris
Looks like this could be headed to parity?
How could we trade this? Do we wait for a pull back to 1.0078 ish and then some PA?
Fantastic area to watch. Can you see the previous box, last time we were there?

Mike
  • #119,424
  • Oct 4, 2012 4:28pm Oct 4, 2012 4:28pm
Quoting mbqb11
welcome DB

One of the beauties of simplicity as that stuff really doesn't need to play a role. You will see how simple james charts are and how if we are picky all else doesn't matter. News is something that if you want to use is fine(as is anything you feel helps). But for most people(myself included) trying to make sense of news just adds another unnecessary element and more chances to mess up(more to analyze). You will see this stuff work time and time again and news is just a part of the overall thing.

Again welcome enjoy
Mike
Thanks Mike,
Actually I avoid trading around news. I'm also thinking a lot of the bar formations are created because of news, which should help me do just that.

Thanks to all of you for sharing your expertise; this is quite a thread.

Doug
  • #119,425
  • Oct 4, 2012 4:51pm Oct 4, 2012 4:51pm
Anybody looking at the 2day Pinbar on oil?
I see a pretty big Pinbar, but ideally it would have closed bullish. 90 BRN, 365MA, 61.8 fib. Something to watch anyways. :-)
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Price is beautiful. A repetitive method is a competitive method.
  • #119,426
  • Oct 4, 2012 5:18pm Oct 4, 2012 5:18pm
Quoting dmc
Nice! It becomes so easy when you only focus on obvious areas like that and forget the rest.
Sure thing
  • #119,427
  • Oct 4, 2012 6:53pm Oct 4, 2012 6:53pm
Quoting Rust
Sure thing
Rust knows his stuff, sometimes I think he's peeking at my computer


Good job buddy keep it up

Mike
  • #119,428
  • Edited 10:35pm Oct 4, 2012 8:21pm | Edited 10:35pm
Weak looking daily PA here at this level on the third time back to it.
Probably going to break below this area after another push up.
We shall see but, took off another third and moved to BE.

Edit: Revised weekly level.
If price fails to get above this area, it is going to go down strongly, I feel. If it does make it above this area, it may well hit the weekly level above it.
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  • #119,429
  • Oct 4, 2012 8:28pm Oct 4, 2012 8:28pm
Quoting Rust
Here is a trade i did today on an exotic pair:
Attachment
Hey rust

What are these circular areas on your chart.
They look like familiar.
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  • #119,430
  • Oct 4, 2012 11:29pm Oct 4, 2012 11:29pm
Quoting mbqb11
Hey Krumpip(nice name lol)

I don't think so. One might think because the euro is more heavily traded that it should follow technicals better. But to me if the pair is not insane and looks tradeable it follows technicals well also. Some of the crazier exotics might over shoot things a bit more and you gotta give a bit more space, but my approach is the same for the most part. Same could be said for most pairs. They are similar but little things you might do different. The large benefit of what we do here(in my eyes) is that this is applicable...
Thanks for the reply.
  • #119,431
  • Oct 5, 2012 12:22am Oct 5, 2012 12:22am
Quoting Pinbar
Mike this BEOB trade you took kind of opens a can of worms for me.
In the sense that, with 10-15 pip buffer on the daily tf, it was obviously trading right into the PPZ and the FTB to the 365 EMA, the FTA must have been very close if you had a 10-15 pip buffer on it.
You didn't mind trading into the 365 on the FTB and having such a close FTA?
I am also curious about this, because I came to the same conclusion as pinbar in the fact that this one was not properly positioned
  • #119,432
  • Oct 5, 2012 12:57am Oct 5, 2012 12:57am
Quoting zamfir
long time lurker and PA practitioner....

Just wanted to say thanks to Jim and seniors here...



http://i.imgur.com/pvZT5.gif
Hi,

Nice trade.

We traders are different how we manage trades and this is how I would have planned my trade.
When FTA was hit after PB, I probably would have adjusted my SL to the orange level. So I would be out with small loss, but I would not want to have full bar loss, if I have already had trade to FTA.
Second entry would have been the BEOB. And with that there is nice runner. I might have taken some profit on 0.9670 area and let the rest to run.
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  • #119,433
  • Oct 5, 2012 1:30am Oct 5, 2012 1:30am
Quoting mbqb11
Fantastic area to watch. Can you see the previous box, last time we were there?

Mike
Yes, so I guess we then look for PA at the top and bottom of this previous box?
  • #119,434
  • Oct 5, 2012 2:42am Oct 5, 2012 2:42am
Quoting Pinbar
Hey rust

What are these circular areas on your chart.
They look like familiar.
If you drag a completed trade from the "history" tab onto a chart, it shows the entry and exit points.
I don't need easy. I just need possible.
  • #119,435
  • Oct 5, 2012 3:05am Oct 5, 2012 3:05am
Quoting DaGrizlyBull
If you drag a completed trade from the "history" tab onto a chart, it shows the entry and exit points.
Thanks, I never knew that.
Interesting.
  • #119,436
  • Oct 5, 2012 4:32am Oct 5, 2012 4:32am
Quoting DaGrizlyBull
If you drag a completed trade from the "history" tab onto a chart, it shows the entry and exit points.
Quoting Pinbar
Thanks, I never knew that.
Interesting.
  • #119,437
  • Oct 5, 2012 4:35am Oct 5, 2012 4:35am
Quoting mbqb11
Rust knows his stuff, sometimes I think he's peeking at my computer


Good job buddy keep it up

Mike
HUGE smile on my face Mike Every single time!

Cheers buddy and thanks for your never ending contribution! Admirable!
  • #119,438
  • Oct 5, 2012 7:38am Oct 5, 2012 7:38am
My trade today. Hope it works. Already moved my SL to about half.
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  • #119,439
  • Oct 5, 2012 8:30am Oct 5, 2012 8:30am
Quoting erublycuris
Yes, so I guess we then look for PA at the top and bottom of this previous box?
Yes we can be looking for buys, or my favorite would be sell if we can breakout of this area

Here are a few charts I emailed the group


Best
Mike
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  • #119,440
  • Oct 5, 2012 9:05am Oct 5, 2012 9:05am
Quoting mbqb11
Yes we can be looking for buys, or my favorite would be sell if we can breakout of this area

Here are a few charts I emailed the group


Best
Mike
Thanks Mike, really appreciate you posting these. It's really helpful to see what/where you are looking for as price develops.

Cheers
Bryan
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