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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

  • #119,641
  • Oct 10, 2012 3:25pm Oct 10, 2012 3:25pm
Quoting bullzeye
Thanks my friend!

Off course you right. And, isn't easy to give advices after the fact? Maybe you can post a few live trades?
Easy B

No ones attacking what you did, if it works. I had sent a webinar to I about how I manage a lot of my trades. Simply trying to apply to your situation. We all have different applications of the methods taught here

Remember this is a friendly environment. When we offer critiques lets all be aware that everything any of us does is opinion.

In this case this beob I even spoke about trading back into the BRN can be very tricky cause it limits our options for mgmt. This is what keeps me out of a lot of trades even if they work out. Same goes for example like the eur/gbp daily beob from yesterday. I explained extensively why it has limited options from a mgmt side to reduce risk so no matter what that trade does I'll avoid it. Many disagreed with me and thats ok. What happens though is a situation like now arrives and we freeze.

As always i think words can be hard to interpret on a computer. Just keeping things civil as we always do here

Mike
  • #119,642
  • Oct 10, 2012 3:52pm Oct 10, 2012 3:52pm
Quoting bullzeye
Thanks my friend!

Off course you right. And, isn't easy to give advices after the fact? Maybe you can post a few live trades?
Oh no B.
It wasn't my intention to criticize you. I`ve just asked Mike if I understood correctly about what he explained in the webinar.

BTW...let see this one:GBPAUD
If the 4H bar will close below that level than I`m out with a small loss.

http://imageshack.us/a/img440/989/gbpaud10102012.png
  • #119,643
  • Edited 4:25pm Oct 10, 2012 4:11pm | Edited 4:25pm
Quoting mbqb11
Easy B

Remember this is a friendly environment. When we offer critiques lets all be aware that everything any of us does is opinion.


Mike
Thanks Mike, i appologize. Dont wonna offence somebody. We are all here to learn
  • #119,644
  • Oct 10, 2012 4:27pm Oct 10, 2012 4:27pm
Quoting bullzeye
Thanks Mike, i appologize. Dont wonna offence somebody. We are all here to learn
That we are buddy, keep posting your charts and analysis are great

We all learn from each other for sure

Best
Mike
  • #119,645
  • Oct 10, 2012 5:40pm Oct 10, 2012 5:40pm
Quoting mbqb11
Hey Equi

See if this helps


Best
Mike
Ok cool. So you don't link them to your quotes in marketwatch?
  • #119,646
  • Oct 10, 2012 5:41pm Oct 10, 2012 5:41pm
Hi Mike


Regarding EURGBP setup , I know that you decided to avoid it , But I need your Opinion for educational Purposes , On Daily we got BEO From yesterday it looked good for me But I waited for Retracement between 38.2%-50% Fibo ,
Today on 4H TF I got this Candle , is it good as trigger for short Position with stop loss above the tail ?

I Traded it demo but I need to know what do you think about it generally .

Thanks in advance
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  • #119,647
  • Oct 10, 2012 5:48pm Oct 10, 2012 5:48pm
Quoting equivestor12
Ok cool. So you don't link them to your quotes in marketwatch?
only the ones I want to add to a watch list

Best
Mike
  • #119,648
  • Oct 10, 2012 5:49pm Oct 10, 2012 5:49pm
Quoting Rona
Hi Mike


Regarding EURGBP setup , I know that you decided to avoid it , But I need your Opinion for educational Purposes , On Daily we got BEO From yesterday it looked good for me But I waited for Retracement between 38.2%-50% Fibo ,
Today on 4H TF I got this Candle , is it good as trigger for short Position with stop loss above the tail ?

I Traded it demo but I need to know what do you think about it generally .

Thanks in advance




Hey Rona

That is absolutely fine. BUT the thing I worry about is often I see people who want to trade a PA bar from the daily/weekly and they go down to the 4hr/1hr/lower for an entry. What worries me is that this is often misguided in that people do this so they can get tighter stops but then lose sight that now we must not only process the higher timeframe PA setup but now an entirely new setup as well(that lower timeframe). For this reason I find it difficult and always lean towards simplicity like James(who always trades off that same timeframe hes watching). I think it's easier and less chance to make mistakes. But certainly some people find what you did very effective as well

Best
Mike
  • #119,649
  • Oct 10, 2012 11:54pm Oct 10, 2012 11:54pm
eur aud daily chart.
i will look for a setup here.
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meine augen sind die sterne
  • #119,650
  • Oct 11, 2012 12:16am Oct 11, 2012 12:16am
Quoting mbqb11
Hey Rona

That is absolutely fine. BUT the thing I worry about is often I see people who want to trade a PA bar from the daily/weekly and they go down to the 4hr/1hr/lower for an entry. What worries me is that this is often misguided in that people do this so they can get tighter stops but then lose sight that now we must not only process the higher timeframe PA setup but now an entirely new setup as well(that lower timeframe). For this reason I find it difficult and always lean towards simplicity like James(who always trades off that same timeframe...
Thank you Mike , Excellent advice I'm Glad that I asked
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  • #119,651
  • Oct 11, 2012 1:17am Oct 11, 2012 1:17am
Quoting mbqb11
Hey C

I'd rather watch that rising TL and bar highs if that can break and see if that can hold as a flip area. This could very well be the bar that triggers that. So we could see if price breaks and can break through the TL.

Best
Mike
MIke, please tell is it good enough for you to put a sell stop under it?
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If not up, then down, otherwise sideways :-)
  • #119,652
  • Oct 11, 2012 4:04am Oct 11, 2012 4:04am
Quoting aserbfx
eur aud daily chart.
i will look for a setup here.
Me too. I've been watching this area since the daily HCR formed last month. Today is the first daily test since price went through that area. I will see how the daily closes (if above I will consider long entry).
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  • #119,653
  • Oct 11, 2012 4:06am Oct 11, 2012 4:06am
Quoting Magestic
MIke, please tell is it good enough for you to put a sell stop under it?
It didnt triggered, alhough question is still valid.
If not up, then down, otherwise sideways :-)
  • #119,654
  • Oct 11, 2012 7:59am Oct 11, 2012 7:59am
Quoting Magestic
MIke, please tell is it good enough for you to put a sell stop under it?
Hey M

I don't think there is anything wrong with that except that price is so far away from that TL that you could experience larger drawdown and have less to manage the trade. Sort of exactly what is happening(although not sure ones order would have been triggered on a decent buffer). I'd prefer to have that beob running through the TL more so we can use that TL for management better

Best
Mike
  • #119,655
  • Oct 11, 2012 8:10am Oct 11, 2012 8:10am
USD/CHF

excellent pivot zone, resistance comes in to play, BRN 0.9400, falling TL , bearish divergence and a bearish pin...do you need more confluence?

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  • #119,656
  • Oct 11, 2012 8:26am Oct 11, 2012 8:26am
AUD/CHF

can you see the beauty of S/R???

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  • #119,657
  • Oct 11, 2012 8:29am Oct 11, 2012 8:29am
Quoting bullzeye
USD/CHF

excellent pivot zone, resistance comes in to play, BRN 0.9400, falling TL , bearish divergence and a bearish pin...do you need more confluence?

Attachment
This PPZ you marked is a great one for sure. Clear as day!
I am watching for i slightly different approach, but as i see your trade is already working great!
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  • #119,658
  • Oct 11, 2012 8:33am Oct 11, 2012 8:33am
AUD/CAD

watch out for that one :nerd:

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  • #119,659
  • Oct 11, 2012 9:50am Oct 11, 2012 9:50am
Quoting bullzeye
AUD/CAD

watch out for that one :nerd:

Attachment
I feel like this pin could be a tricky one. Hundred pips higher we have a great zone for sellers. Former support changing into resistance... Looks hot!
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  • #119,660
  • Edited 10:23am Oct 11, 2012 10:09am | Edited 10:23am
Hi guys,

What do you guys think of this EURJPY BUOB?
Along trendline, off previous D1 LCS & 150 EMA.
I would only consider it if it closes above the TL...
I'm a bit worried by the two HCR though, at 102.5 and 103.3...

I got another question too. AUD pairs seem to be all strongly moving, with bearish pinbars for AUDxxx pairs, and at least a bullish PB for EURAUD.
What do you do in such conditions? do you pick one pair among all the AUDxxx, to avoid being overexposed? or do you just don't mind take the ones that looks the best??

thanks!
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Slow & steady
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