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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

  • #120,101
  • Oct 28, 2012 7:28am Oct 28, 2012 7:28am
Quoting mbqb11
Hey SB

Firstly welcome to this huge thread

I think it's an interesting pin but I am a bit weary on it. Coming off friday it could be that price just didn't have enough momentum to break this area. Now as you guys said there is not a lot of space here . For me just fighting back into that BUOB makes it tricky and one should get their stops to b/e quick. I think the descending TL and the left eye should hold or this will not work. So this is also the area I would watch to the upside to cut out if I had to take it. That's just as important...
Hi Mike, I was looking at this chart from a breakout perspective of that upper trendline with the BUOB pressing up on it. It looks like a good BO setup to me with price rounding off at the bottom of the pattern. What are your thoughts on this pattern.

Cheers
Dan
  • #120,102
  • Oct 28, 2012 7:45am Oct 28, 2012 7:45am
Quoting dan89
Hi Mike, I was looking at this chart from a breakout perspective of that upper trendline with the BUOB pressing up on it. It looks like a good BO setup to me with price rounding off at the bottom of the pattern. What are your thoughts on this pattern.

Cheers
Dan
Hey Dan

Check out the breakout thread on PF someone asked about this last week I gave my thoughts

Best
Mike
  • #120,103
  • Oct 28, 2012 7:50am Oct 28, 2012 7:50am
So what do you think guys about this setup? Very nice sized pin bar, double top and retest of ema 365. It is in a traffic so I will play it tightly.
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  • #120,104
  • Oct 28, 2012 7:57am Oct 28, 2012 7:57am
Quoting xiaoxin
Oh, I cannot find Fx majors either.
What's up?
No idea.
Me too
  • #120,105
  • Oct 28, 2012 7:58am Oct 28, 2012 7:58am
Quoting dug_forex
Hi

I love this thread, I have been a PA trader for so long and really believe I found a great community here. Awesome support provided by senior members which is so good. Reminds me of what FF is really all about.

I do have a question and due to the size of the thread I am having trouble sourcing the right answer.

How are the 180 and 365 moving averages used? Also, why where these time frames selected? I have seen lots of references to them, and I have never seen those time frames used.

Congratulations to all the contribute here....
Hey John

Welcome to the thread Glad this thread is refreshing and hope to see you hanging out here we have a great group of people hanging out


The 150 and 365 EMAs are just medium and long term MAs that James has used for a LONG time. They are used in a few different ways but most easily to start with is just as pure confluence. So using them with S/R and other factors to find good areas to begin to look for trades. Many use them others here don't or use different EMAs. I don't think the number as important as just the general understanding of them

Again welcome to the thread
Mike
  • #120,106
  • Oct 28, 2012 8:04am Oct 28, 2012 8:04am
Quoting Audioslave
Guys

Do you have any issues with FXPro?

I'm using demo account for charting and right now i can't find majors and some other pairs. Also my price alerts are missing or messed up... Damn
yep I thought I was going crazy! I am too AS

I'll wait till 5pm when they open and see what happens

Mike
  • #120,107
  • Oct 28, 2012 8:46am Oct 28, 2012 8:46am
Hey Mike and johan thanks for the welcome..Just a quick question for you..

What would be the largest spread size you would trade on a pair ?

Many thanks for your time.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #120,108
  • Oct 28, 2012 8:54am Oct 28, 2012 8:54am
Quoting Seabreeze
Hey Mike and johan thanks for the welcome..Just a quick question for you..

What would be the largest spread size you would trade on a pair ?

Many thanks for your time.
Hey Sea

it's really not the size of the spread. A pair can have a high number spread but move a large range on avg as well which makes it fine. So instead what I do is the following(dan just asked me this in the PF so i am copying my answer)

Generally Dan, I just eyeball the spread vs how the pair moves. This can be said for ALL timeframes really. So a spread might be too high on an hourly but on a daily it's fine.

What I literally do is look at the spread vs the pair. And by that I mean plot your bid and your ask on a pair. If the spread looks too big vs the way the pair tends to move on that timeframe then its not worth it.
  • #120,109
  • Oct 28, 2012 10:20am Oct 28, 2012 10:20am
Quoting Martin600
So what do you think guys about this setup? Very nice sized pin bar, double top and retest of ema 365. It is in a traffic so I will play it tightly.
Your lines are perfect Martin


Best
Mike
  • #120,110
  • Oct 28, 2012 10:30am Oct 28, 2012 10:30am
Quoting Martin600
So what do you think guys about this setup? Very nice sized pin bar, double top and retest of ema 365. It is in a traffic so I will play it tightly.
i dont know buddy see FTA little closer than i would like it(also on D1 chart) ..
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  • #120,111
  • Oct 28, 2012 11:57am Oct 28, 2012 11:57am
some trendlines are too good to ignore
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  • #120,112
  • Oct 28, 2012 12:04pm Oct 28, 2012 12:04pm
bad stormed hitting the east coast, could be without power for a few days. So apologies if I can't get to my emails

I am stocked up on beer though just in case
  • #120,113
  • Oct 28, 2012 12:10pm Oct 28, 2012 12:10pm
Hi Everybody!

Great this forum! Please help me: Say to me a broker, where i can 200+ chart to see, and i can trade them. What instruments do you trade??? I feel i can do daily trades, if i have 200+ charts.
  • #120,114
  • Oct 28, 2012 12:15pm Oct 28, 2012 12:15pm
Quoting mbqb11
bad stormed hitting the east coast, could be without power for a few days. So apologies if I can't get to my emails

I am stocked up on beer though just in case
Hi Mike hope you and all others on here are ok buddy I was watcing to news about the storm comming and looks like a big one. Fingers crossed everyone will be ok.
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #120,115
  • Oct 28, 2012 12:47pm Oct 28, 2012 12:47pm
A couple of price action setups I will be monitoring heading into the new week.

GBPUSD inside day

USDJPY bearish engulfing candle (bearish outside bar).

cheers
FXP
  • #120,116
  • Oct 28, 2012 12:56pm Oct 28, 2012 12:56pm
Quoting Seabreeze
Hi Mike hope you and all others on here are ok buddy I was watcing to news about the storm comming and looks like a big one. Fingers crossed everyone will be ok.
thanks buddy, yep they are really preparing for the worst here. Many areas near my home are flooding by the water already and nothings even here yet.
  • #120,117
  • Oct 28, 2012 12:57pm Oct 28, 2012 12:57pm
Quoting Zeee86
Hi Everybody!

Great this forum! Please help me: Say to me a broker, where i can 200+ chart to see, and i can trade them. What instruments do you trade??? I feel i can do daily trades, if i have 200+ charts.
Hey Zee

You can trade anything you want that's the beauty of this stuff. A good mt4 broker in terms of charting is fxpro they give you a lot of pairs and some other markets to check out. If you are looking for a LOT more stuff try a platform like Think or Swim. Here you can find everything

Welcome to the thread and ask more questions if you need

Mike
  • #120,118
  • Oct 28, 2012 12:58pm Oct 28, 2012 12:58pm
Quoting mbqb11
bad stormed hitting the east coast, could be without power for a few days. So apologies if I can't get to my emails

I am stocked up on beer though just in case
Hey Mike,

we all keep our fingers across that Sandy isn't so bad as it seems....

God bless you all
  • #120,119
  • Oct 28, 2012 1:28pm Oct 28, 2012 1:28pm
Quoting fxprocessor
A couple of price action setups I will be monitoring heading into the new week.

GBPUSD inside day

USDJPY bearish engulfing candle (bearish outside bar).

cheers
FXP
Thanks for your excellent analysis fxprocessor! ...looking for more from you here
  • #120,120
  • Oct 28, 2012 1:28pm Oct 28, 2012 1:28pm
Hi everyone!

First of all I would like to apologize for my english, I'm from Hungary so that's not my mother tongue, I'm sure I'll do a lot of grammatical mistake.
Secondly, thanks for this thread, especially for the senior members. That's an incredible great and unselfish community!
I was playing online poker for years, and now i would like to learn this "game". I know it will be a long, dark, and hard road, but I have a lot of time and motivation.
I just started to read about the forex 3 weeks ago and I was lukcy because i found this thread very early.
If you have time please take a look to this chart:
+weekly pin (Not too big nose. The proxy eye from 19. aug see it, is that correct?)
+PPZ
+BRN
+Macd divergence
+Fib confluence (76.4 and 38.2)

-FTA is quite close
-Not a big space to fall

Sell stop: 79.460
S/L:80.302
Tp1: 78.849
Tp2: 78.451
Tp3: 78.065
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