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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

  • #120,681
  • Nov 11, 2012 1:07am Nov 11, 2012 1:07am
Quoting iuliu00
Hey guys,
what do you think about this one?
PB in lowest low,with bullish divergence

USDCNH Daily
Hi iuliu00,

With so much down momentum I would not be looking to buy that pinbar.

Even if you go for it make sure to take profit on the first bar that goes against you. A reasonable target if that pinbar high is taken out would be 6.245 after which there might be a reversal.

However if there is an upmove from that pinbar then be alert - most probably the downtrend extreme is bound to be tested again after which one can go long if the correct setup presents itself.

You could also place a stop limit order to short below the high of the pinbar, i.e. on the pinbar failure.

Regards,
iqgod
  • #120,682
  • Nov 11, 2012 1:30am Nov 11, 2012 1:30am
jcp on weekly.
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meine augen sind die sterne
  • #120,683
  • Nov 11, 2012 7:47am Nov 11, 2012 7:47am
aserbfx, MAR, maybe another to watch.

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The Eyes Believe What They See And The Ears Believe What Others Say.
  • #120,684
  • Nov 11, 2012 11:25am Nov 11, 2012 11:25am
Quoting Bones
usd jpy w1
My word! You've been on a roll with breathtaking charts!

Your valuable help here is more than appreciated, and its good to have you with the group Bones.

g.
I believe . . .
  • #120,685
  • Nov 11, 2012 12:41pm Nov 11, 2012 12:41pm
Thanks Ghous means alot
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,686
  • Nov 11, 2012 2:28pm Nov 11, 2012 2:28pm

Any thoughts on this BEOB on cable? Seems to have broken through a couple of minor levels as well as through the BRN 1.6. Looking to 1.577 for profits....

Thanks!

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  • #120,687
  • Nov 11, 2012 2:30pm Nov 11, 2012 2:30pm
Quoting rafstraszek
Mike, may I know your opinion about gbpusd? We have brn, breakout, ppz and nice size beob...
Hey Raf

It certainly is looking bearish but for me this is more tricky as it's not really a breakout pattern rather price just trying to break out of some consolidation. So we want to be careful selling beobs at swing lows. Remember traditionally we want them up at swing highs especially when learning. So just be cautious with those

Best
Mike
  • #120,688
  • Nov 11, 2012 2:35pm Nov 11, 2012 2:35pm
Quoting IQGod
Hi iuliu00,

With so much down momentum I would not be looking to buy that pinbar.

Even if you go for it make sure to take profit on the first bar that goes against you. A reasonable target if that pinbar high is taken out would be 6.245 after which there might be a reversal.

However if there is an upmove from that pinbar then be alert - most probably the downtrend extreme is bound to be tested again after which one can go long if the correct setup presents itself.

You could also place a stop limit order to short below the high of the...
nice IQ

I agree, be careful with these smaller reversal bars verse such a strong trend. It's not unlikely that friday is a simple profit taking day and creates a small pin. Watch the descending TL that's actually your FTA with the previous two bar highs and PPZ flip

These often catch new traders and make them scratch their heads

Best
Mike
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  • #120,689
  • Edited 5:23pm Nov 11, 2012 3:31pm | Edited 5:23pm
Thank you guys,very helpful comments,really appreciated!
  • #120,690
  • Nov 11, 2012 3:42pm Nov 11, 2012 3:42pm
Hello!

I hope the pictures explain themselves. I would appreciate any comments.

Thank you!
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  • #120,691
  • Nov 11, 2012 4:21pm Nov 11, 2012 4:21pm
Hi Mike and Everyone,

I'll Be watching a break down there Followed or with Nice PA ,

What do you Think ?
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  • #120,692
  • Edited 4:38pm Nov 11, 2012 4:27pm | Edited 4:38pm
Quoting KarlfromHU
Hello!

I hope the pictures explain themselves. I would appreciate any comments.

Thank you!
Hi Karl ,

GBPAUD I'm watching This Too , It would be much better if we got Larger Candle closed Below this Area , so I'll keep an Eye on it but till now no Trade ,

Looking forward to know How Mike Reading This Pair ,

Regards
Rona
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  • #120,693
  • Nov 11, 2012 4:37pm Nov 11, 2012 4:37pm
Quoting Rona
Hi Karl ,

GBPAUD I'm watching This Too , It would be much better if we got Larger Candle closed Below this Area , so I'll keep and Eye on it but till now no Trade ,

Looking forward to know How Mike Reading This Pair ,

Regards
Rona
Hey Rona

yes not really enough information here for me. Would just continue to observe this one. Perhaps the best is the hourly consolidation building

Best
Mike
  • #120,694
  • Nov 11, 2012 4:48pm Nov 11, 2012 4:48pm
Quoting mbqb11
Hey Rona

yes not really enough information here for me. Would just continue to observe this one. Perhaps the best is the hourly consolidation building

Best
Mike
Thank you Mike , I would keep an eye on that tpo ,

Your support and Help Much appreciated

Regards

Rona
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  • #120,695
  • Nov 11, 2012 5:04pm Nov 11, 2012 5:04pm
Quoting KarlfromHU
Hello!

I hope the pictures explain themselves. I would appreciate any comments.

Thank you!
4th touch or larger i'll be much more watching for a breakout than a significant bounce.

just my 2c of course
  • #120,696
  • Nov 11, 2012 10:22pm Nov 11, 2012 10:22pm
Quoting Rust
4th touch or larger i'll be much more watching for a breakout than a significant bounce.

just my 2c of course

We could get a nice bounce here on EUR/AUD.
I shall watch for a 4H signature.

Anyone else having problems with FX pro not connecting, right now?
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  • #120,697
  • Nov 11, 2012 10:25pm Nov 11, 2012 10:25pm
Quoting Pinbar
We could get a nice bounce here on EUR/AUD.
I shall watch for a 4H signature.

Anyone else having problems with FX pro not connecting, right now?

Yeah no connection here too.
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #120,698
  • Nov 11, 2012 10:26pm Nov 11, 2012 10:26pm
Quoting rolo1128
Yeah no connection here too.
Yeah, probably just their demo feed that is down.

Thanks
  • #120,699
  • Nov 11, 2012 11:06pm Nov 11, 2012 11:06pm
Quoting bullzeye
nice trades folks ! i spend my time with beer drinking , so no trades for me today
Good Idea . remind me to read this post every morning ...
Human
  • #120,700
  • Nov 11, 2012 11:13pm Nov 11, 2012 11:13pm
Quoting rafstraszek
Well, I just started using name ppz for my lcs/hcr - when they are close to each other - they are making sort of ppz...and it is easier to understand for people, who didn't have any connection with jarroo staff...

But yes - I also started to mix james16 staff with pbt and some of ghous staff...

And thanks - it's always nice to hear some good words.

Take care.
Hey Raf, Long time ... How is everything ? How is trading going ? Still rocking ?
Human
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