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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

  • #121,821
  • Dec 17, 2012 8:49am Dec 17, 2012 8:49am
hey Mike

I also was in eurjpy, a bit late entry, anyway did some pips)))

many pips

Abdu
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  • #121,822
  • Dec 17, 2012 9:02am Dec 17, 2012 9:02am
Also in eurnzd, closed half of position, waiting for next tp

if someone will comment, I will be glad...

many pips

Abdu
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  • #121,823
  • Dec 17, 2012 12:29pm Dec 17, 2012 12:29pm
Quoting FX Wolf
hi D

i am looking two levels for consideration

3131ish and 3120ish for any continuation upwards!

3131 on lower tfs and 3120 on daily

what's your view senior?
Not a senior by any means. but thanks!!.......I don't look at lower time frames, mainly trade daily candles off of weekly and daily levels. My reasoning on EURO is friday's candle (and weekly) closed above a weekly level and 2 dailies. I really like the 1.3120 on daily you mention - it's right below the close/open of the weekly hcr that is triggering my consideration for a long (see the magenta broken line at pt. 1 on this chart).

BTW, my order missed getting picked up by 5 pips. I will leave open and evaluate again after today's candle closes.
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  • #121,824
  • Dec 17, 2012 3:18pm Dec 17, 2012 3:18pm
Mike

Hello

What is your opinion
G/cad
A .PPZ
PB

Hope for feedback

Sorry for my bad English
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  • #121,825
  • Dec 17, 2012 3:25pm Dec 17, 2012 3:25pm
Quoting Yehuda Sh
Mike

Hello

What is your opinion
G/cad
A .PPZ
PB

Hope for feedback

Sorry for my bad English
Hey Yehuda

Careful with these this pair is very very choppy and this pinbar is in a ton of mess. We want to find these bars with space otherwise our trouble area is close. 5900 could easily reverse this since things are so sideways. I avoid a situation like this every time

Best
Mike
  • #121,826
  • Dec 17, 2012 3:52pm Dec 17, 2012 3:52pm
Quoting Yehuda Sh
Mike

Hello

What is your opinion
G/cad
A .PPZ
PB

Hope for feedback

Sorry for my bad English
Yeah I was just looking at that PB after opening my charts, it has a nice shape but, price is going sideways and there is a PPZ right below it & the 365 EMA.
Sort of stuck right in the middle of things. Look for bars with space that are not trading into trouble but, away from it.

EDIT: Oh Mike already replied. Same sort of thing.
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  • #121,827
  • Dec 17, 2012 3:53pm Dec 17, 2012 3:53pm
Hi Mike,

Did you take the retest of 1.0400 on aud/cad? I didn't wait for bar conformation and took it long. Now price is back in the consolidation triangle ... after daily close above and retest of the RN

Toti
  • #121,828
  • Dec 17, 2012 4:22pm Dec 17, 2012 4:22pm
Quoting toti1981
Hi Mike,

Did you take the retest of 1.0400 on aud/cad? I didn't wait for bar conformation and took it long. Now price is back in the consolidation triangle ... after daily close above and retest of the RN

Toti
Hey Toti

I don't take a touch trade very often I am more comfortable with PA. Touch trading for me is usually under different circumstances. There was a BUOB but it could not close above the 1.0400 so I passed(as well as a gap to be filled). That pattern is no longer valid for me. That's the risk you do run without PA confirmation but not necessarily wrong

Best
Mike
  • #121,829
  • Dec 17, 2012 4:32pm Dec 17, 2012 4:32pm
Hey Mike,

Thanks a lot for the explanation !
Are you talking about the daily Fridays bar (buob) ? This guy closed above 0400. Or you talk about the one closed couple of days ago?

Thanks

Toti

Quoting mbqb11
Hey Toti

I don't take a touch trade very often I am more comfortable with PA. Touch trading for me is usually under different circumstances. There was a BUOB but it could not close above the 1.0400 so I passed(as well as a gap to be filled). That pattern is no longer valid for me. That's the risk you do run without PA confirmation but not necessarily wrong

Best
Mike
  • #121,830
  • Dec 17, 2012 4:46pm Dec 17, 2012 4:46pm
Quoting toti1981
Hey Mike,

Thanks a lot for the explanation !
Are you talking about the daily Fridays bar (buob) ? This guy closed above 0400. Or you talk about the one closed couple of days ago?

Thanks

Toti
Hey Toti

For me this pattern was to be viewed on the 4hr . The size on the daily is to small and thus makes the pattern and bar size entries not really right for me. This is something I find very important. On my chart you can see the 4hr buob on the pullback but no close above the.

Hope that helps
Mike
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  • #121,831
  • Dec 17, 2012 5:11pm Dec 17, 2012 5:11pm
--

Trading the Jpy Gap
not a great Price action to show on my chart,but I love these opportunities

results +76 pips total
not a bad start for the week

some fundamental analysis I've found on the Web :

With the LDP and New Komeito coalition, Abe, the PM-Elect, will have the support he needs to pass his agenda, thus it’s likely that we’ll see weaker JPY in 2013. If Abe were to keep his words, namely having an inflation target of 2.0% by aggressively depreciating the JPY, I wouldn’t be surprised to see USDJPY re-approach the 90 to 100 level.

The key to successful Forex trading is to identify moments like this, a turning point of sorts, especially for the JPY. Although I don’t expect a straight line decline, I fully expect to see gradual and steady depreciation of the yen, which makes JPY buying a big no-no. As a matter of fact, I’m calling for BUY ONLY trades on yen crosses (LONG EURJPY, GBPJPY, CADJPY, USDJPY, etc…) as the overall market sentiment, fueled by risk appetite, will add more momentum on shorting JPY.

I’d also recommend to use patience, as the trend leading up to the election has already pushed JPY to the same resistance level post BOJ intervention, which means we could see some some profit taking from the recent run up, giving us an opportunity to place our trades.

I’d definitely be looking at around the 83.00 level for the USDJPY for potential LONG entries, and you could definitely trade other yen crosses instead when USDJPY drops to the 83.00 level.


http://mytradesontheblog.files.wordp...gap.gif?w=1176
Account deleted
  • #121,832
  • Dec 18, 2012 4:18am Dec 18, 2012 4:18am
Hmm, perhaps we are approaching a PB breeding area.
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  • #121,833
  • Dec 18, 2012 8:53am Dec 18, 2012 8:53am
Quoting Pinbar
Hmm, perhaps we are approaching a PB breeding area.
I am interested in gbp/jpy since the gap hasn't filled and a retest of the BRN of 135 is logical. Not a whole lot to hold us down so definitely a tricky one to blindly enter. I'll start watching for a "pattern" to form and break. Also not all that interested in trading as the year wraps up myself

Best
Mike
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  • #121,834
  • Dec 18, 2012 9:27am Dec 18, 2012 9:27am
Finally found a video of Paul Tudor Jones' 2012 Christmas Lights, even if it is poor quality. Happy holidays to all the J16 family.

http://www.youtube.com/watch?v=B4bwfQPSWko



Quoting nwo-trader
Just wanted to say happy holidays to everyone, wishing you all health and happiness, and a pleasant time with family.

And now for the annual light show, compliments of Mr Paul Tudor Jones. This years lights are pretty cool.

2011
http://www.youtube.com/watch?v=wX8CRvG6Nb8

2010
http://www.youtube.com/watch?v=Vv47honYCPE

2008
http://www.youtube.com/watch?v=GV4RJq2uiWA
Price is beautiful. A repetitive method is a competitive method.
  • #121,835
  • Dec 18, 2012 9:51am Dec 18, 2012 9:51am
Quoting nwo-trader
Finally found a video of Paul Tudor Jones' 2012 Christmas Lights, even if it is poor quality. Happy holidays to all the J16 family.

http://www.youtube.com/watch?v=B4bwfQPSWko
you are always on it buddy!

Happy holidays to you as well
  • #121,836
  • Dec 18, 2012 10:34am Dec 18, 2012 10:34am
any shape breakout on gold ?
  • #121,837
  • Dec 18, 2012 3:42pm Dec 18, 2012 3:42pm
Quoting mbqb11
I am interested in gbp/jpy since the gap hasn't filled and a retest of the BRN of 135 is logical. Not a whole lot to hold us down so definitely a tricky one to blindly enter. I'll start watching for a "pattern" to form and break. Also not all that interested in trading as the year wraps up myself

Best
Mike
I hear you Mike, not a great time to throw money at it.

Yes, the gap has yet to fill, I am just watching this one.

Appreciate your input.
  • #121,838
  • Edited 5:38am Dec 19, 2012 5:24am | Edited 5:38am
Hi Mike,
yesterday I saw two possible trades on EURCAD and on CADCHF. Here is what I saw.
Eurcad: I liked size of the BUOB and it closed above the horizontal line so I considered this as breakout trade (although there was no retest on H4 or H1 timeframe)
Cadchf: Again good size of the BEOB and it closed below the horizontal line, so again I considered this as breakout trade

In the end I didnīt take any of those trades because when I look to the left I see that price had some serious trouble in these areas before (I marked this with yellow line and rectangle). Could you please write whatīs your opinion about this?

Mav
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  • #121,839
  • Dec 19, 2012 6:48am Dec 19, 2012 6:48am
Hi Mike

just joined to PF James16 group, so I can say just WOOOW

it's really interesting, so I need some help Mike, please...


Abdu
  • #121,840
  • Dec 19, 2012 8:42am Dec 19, 2012 8:42am
Quoting Abdu
Hi Mike

just joined to PF James16 group, so I can say just WOOOW

it's really interesting, so I need some help Mike, please...


Abdu
Hey Abdu

Shoot me a PM over there

Welcome buddy Don't get overwhelmed


Best
Mike
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