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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

  • #120,281
  • Nov 3, 2012 8:05am Nov 3, 2012 8:05am
http://www.candlesticker.com/Cs42.asp

reliabilty low on own ,but its taught here to add to that

maybe you can see in cable

http://www.candlesticker.com/Cs72.asp

high reliability
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,282
  • Edited 9:51am Nov 3, 2012 9:33am | Edited 9:51am
possibly this is a good example


http://www.forexfactory.com/showthre...71#post6115471
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,283
  • Nov 3, 2012 10:03am Nov 3, 2012 10:03am
finally got power and back home. Phew. So many still so badly effected

I am excited to catch up on all I have missed!

Mike
  • #120,284
  • Nov 3, 2012 10:11am Nov 3, 2012 10:11am
Hi,

Here is my first graph posted on this thread. I'll try to do it more often, because I'm sure there is no stupid questions, but only interesting answers

This is the first Pull-Back on this PPZ, with a nice close just on it, and a trend-line confluence.
This is not a bad spot but I'm sure it would be better with other confluence like Fib or BRN.
Any thought ?

J.
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  • #120,285
  • Edited 10:44am Nov 3, 2012 10:28am | Edited 10:44am
Quoting mbqb11
finally got power and back home. Phew. So many still so badly effected

I am excited to catch up on all I have missed!

Mike
Hi Mike, Nice to hear from you buddy. Glad you slowly getting sorted..

John
Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #120,286
  • Nov 3, 2012 10:40am Nov 3, 2012 10:40am
Quoting Zeee86
Hi Everybody. What is the problem with this marked pin bar?? Was it wrong, or it was not a good pin? Or i have to accept it, like a loss. It was a backtest, but all my wins makes these pins to loss.
[/quote]

Hey Zee

This is a pinbar but not a valid one and a poor location

We don't want to trade bars that we just call pinbars but rather bars that are in great locations.

I put some notes on my chart. Check out my free video called space vs traffic for what I mean by no space.

Best
Mike
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  • #120,287
  • Nov 3, 2012 10:41am Nov 3, 2012 10:41am
Quoting Zeee86
Hi Mike!

It sounds great, please tell me about 100 instruments, where i can use this method, because what i found, there are great gaps almost all day, and the pin bars works rare. I can not find similar instruments like fx pairs...
I have a full time job, i need to find a lot of instrument to trade... Thank you!
Hey Zee

I watch about 70-80 FX pairs alone

You can watch futures markets equities commodities.

I use the russell 300 for my equities scan.

Try downloading ThinkorSwim and watching the weekly/monthly charts. I trade equities almost exclusively on weekly only.

Hope that helps
Mike
  • #120,288
  • Nov 3, 2012 11:39am Nov 3, 2012 11:39am
Quoting ghous
Hey Zee,

I think there is nothing wrong with sharing charts and setups you feel are losers as it certainly creates wonderful learning opportunities for all. You just shared a great chart and an opportunity for everyone to learn.

Now Mike tirelessly preaches to never isolate your PA bars and get excited by the bar itself. What should get you excited is the situation where your PA bar actually lines up with the "ongoing story".

For one notice how small the pin bar is. Now we all know that we need BIG STRONG PA bars to reverse solid trends...
great post G

Mike
  • #120,289
  • Nov 3, 2012 11:49am Nov 3, 2012 11:49am
Quoting Zeee86
I post 7 picture, please tell me which are really tradeable, which are wrong...
Thank you! The strategy to identify a swing high/low, and there find a PA.
Hey Zee

I put some notes on your charts. Notice the difference b/w some of them in terms of what jumps off the chart.

Also a tip on posting charts to make them viewable

Right click your chart. Click Save as picture. Then click active chart as is

Hope this helps
Mike
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  • #120,290
  • Nov 3, 2012 12:03pm Nov 3, 2012 12:03pm
Quoting mbqb11
finally got power and back home. Phew. So many still so badly effected

I am excited to catch up on all I have missed!

Mike
Great to hear everything comes back into place! This was a fast recovery
  • #120,291
  • Nov 3, 2012 12:07pm Nov 3, 2012 12:07pm
Quoting Chanya
In a couple of months that I have been absent from here ( Not completely back even now except some weekends ) , I have learned a things or two while trading for myself that has helped me in a lot of way like reduced my screen time while at the same time , increase my profit to loss ratio , reduced my stress etc . I do not only trade HCR's and LCS's as I have told before . I also trade SND and Support and resistance in a traditional manner , and if one goes against any one other , I dont trade .

I totally agree with you Rust , in the times when...
This means you are working hard and that's an important thing
I am sure a lot of us can tell the same story! Many times
It's amazing how when you think you got so much of the game, you find something new and great and you think "oh man, how i missed that" hehe
  • #120,292
  • Nov 3, 2012 12:16pm Nov 3, 2012 12:16pm
Quoting Rust
Great to hear everything comes back into place! This was a fast recovery
recovery is far from over. Most places still without anything. I am lucky to have electricity back but may not have heat or hot water for another week. It's very cold here nights are brutal. Lucky to even have a roof to go to.

It's going to be a long road to recovery for many places


Mike
  • #120,293
  • Nov 3, 2012 12:35pm Nov 3, 2012 12:35pm
Quoting AmareX
Mike, what do you think about this one?
Hey Amare

Would you mind including the pair it's easier for me to pull up my charts and view them on my screen. Based on what I see on yours its a nice area to watch at the 50 fib and BRN with a previous PPZ. But would need more information here and of course what the bar looks like as well

Best
Mike
  • #120,294
  • Nov 3, 2012 1:15pm Nov 3, 2012 1:15pm
Quoting fxdonchris
I am new here and i want to thank all of you for your wonderful contributions especially to two persons viz;
1 James for starting the thread and
2 Ghous for the wonderful training i have recieved from him so far.

I am happy to be here and i am here to stay.

Chris
welcome chris


Mike
  • #120,295
  • Nov 3, 2012 1:47pm Nov 3, 2012 1:47pm
Quoting Fxnumen
Hey guys,

Am more of a voracious passive member....but here are some charts that am looking at...

Would appreciate all your blunt and candid opinion....

To Mike and all the other members affected by sandy...stay strong and be safe. God bless.

Am thinking price might break the PB and TL on EUR/ZAR D1(that will be good)

Also USD/HKD is at an important level. If it breaks...we might bag some pips..

On EUR/GBP am awaiting the violation of PB and close below 0.8000 BRN

Please guys, your views are much appreciated(no matter how RAW)...
careful on the usd/hkd pair

Mostly an intervention type area where this area will hold(maybe not) but as long as this level is fixed it will. The problem is it carries an extremely high swap rate to hold. So it gets tricky playing to the upside at least

Best
Mike
  • #120,296
  • Nov 3, 2012 1:48pm Nov 3, 2012 1:48pm
Quoting morph
Just typical.....
I wait and wait - then have to go out. When I return, there's the PA on the breakout and a fantastic rise!

Lesson to learn - become a hermit and glue to charts
That's some tight consolidation. Nice buob tip off

Mike
  • #120,297
  • Nov 3, 2012 2:29pm Nov 3, 2012 2:29pm
Quoting ForexFrog
Hi,

Here is my first graph posted on this thread. I'll try to do it more often, because I'm sure there is no stupid questions, but only interesting answers

This is the first Pull-Back on this PPZ, with a nice close just on it, and a trend-line confluence.
This is not a bad spot but I'm sure it would be better with other confluence like Fib or BRN.
Any thought ?

J.
EUR/AUD See what happend last time 200SMA was tested but I dont like the double top that is already confirmed. Kind of a mixed scenario here where CL may act as Resistance.

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  • #120,298
  • Nov 3, 2012 2:38pm Nov 3, 2012 2:38pm
Quoting Rust
Your and the other guys' kind words and appreciation is what mean to me even more than V's
Thanks guys, the feeling is great to see someone benefits from my contribution after those years of hard work (many more still to come!)
great posts Rust! Thanks for helping out the new folks

Mike
  • #120,299
  • Edited 3:05pm Nov 3, 2012 2:53pm | Edited 3:05pm
Mike is back, im very glad!
all right now.

what it looked like from space (hurricane sandy):
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  • #120,300
  • Nov 3, 2012 3:04pm Nov 3, 2012 3:04pm
potential trade for Monday
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all is eternal - this is good news for people who loves bad news
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