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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

  • #122,681
  • Jan 20, 2013 9:17am Jan 20, 2013 9:17am
gci on weekly and monthly.
same story like crl (see above). although fridays daily candle was very small (doji).
the 20 usd is the line in the sand here.
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meine augen sind die sterne
  • #122,682
  • Jan 20, 2013 11:21am Jan 20, 2013 11:21am
This year I am looking at the Russell 1000 each week to start to get a feel for equities. Not live trading them yet

Last week I marked up DNR. Checked it today and it did exactly as expected. 2 weeks ago broke out of consolidation with BUOB. The next week paused. This past week popped up. Pretty simple.

:-)

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  • #122,683
  • Jan 20, 2013 3:17pm Jan 20, 2013 3:17pm
Quoting mbqb11
good job dude
Mike, please can you comment your entry here. I watched this one, but there was no bar confirmation for me. I ask coz I see I'm missing something here. Thank you.
If not up, then down, otherwise sideways :-)
  • #122,684
  • Jan 20, 2013 3:44pm Jan 20, 2013 3:44pm
Look at that pinbar. The price tried couple of times to close above this level 1.2700. Now it made a bearish pinbar. I would enter on the break of the bar after small resistance 1.2650 is broken.
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  • #122,685
  • Jan 20, 2013 4:18pm Jan 20, 2013 4:18pm
Quoting dmc
This year I am looking at the Russell 1000 each week to start to get a feel for equities. Not live trading them yet

Last week I marked up DNR. Checked it today and it did exactly as expected. 2 weeks ago broke out of consolidation with BUOB. The next week paused. This past week popped up. Pretty simple.

:-)

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Great job Dave
  • #122,686
  • Jan 20, 2013 4:18pm Jan 20, 2013 4:18pm
Quoting Magestic
Mike, please can you comment your entry here. I watched this one, but there was no bar confirmation for me. I ask coz I see I'm missing something here. Thank you.
Hey M

I traded off a 4day BEOB by combining bars


Best
Mike
  • #122,687
  • Jan 20, 2013 4:55pm Jan 20, 2013 4:55pm
Hi Guys/Gals

Hope everyone had/is having a good weekend.

This info might help someone regarding charts with a New York close time. I know both Mike and Jarroo suggest that using charts with a new york close time is better. Had been looking around for charting packages that do this and most of them don't - which is why you get those crappy little extra Sunday bars on your charts.

The only ones I have been able to find are fxsolutions (australia) and fxcm have a package called trading station (their mt4 platform does not use a NY close).

Not sure if anyone has found any others.

cheers

hally
Learning for Earning and Trading for Freedom
  • #122,688
  • Jan 20, 2013 5:20pm Jan 20, 2013 5:20pm
Hally

FXPro, UWC and AXITrader all use the NY close on their mt4 demo accounts.

I have only used these on demo so can't say if they are good brokers with a live account.
  • #122,689
  • Jan 21, 2013 12:06am Jan 21, 2013 12:06am
Mike & Jaroo,

When is the new site opening?

BTW, how is Jim doing? Hope he is in good health.
  • #122,690
  • Jan 21, 2013 5:14am Jan 21, 2013 5:14am
Quoting Pinbar
Nope, I was busy setting up the intonation on my Les Paul.
Almost drove me crazy as the humidity is so low here right now and it affects it greatly.
/Sorry for offtopic/
A little dusty lately, but still one of my very favorite items I was a rockstar wannabe in my high school years hehe
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  • #122,691
  • Jan 21, 2013 6:45am Jan 21, 2013 6:45am
Good Morning J16 crew,
Mike I was wondering if the USDJPY 4HR Beob has you interested at all, or if there is some reason you would pass on this one. Nice divergence at a BRN. Am I correct in thinking you would want a tighter squeeze wedge pattern, and then a close outside the pattern? If we close as we are the daily BEOB looks good.

Have a great day all :-)
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Price is beautiful. A repetitive method is a competitive method.
  • #122,692
  • Jan 21, 2013 8:33am Jan 21, 2013 8:33am
eurchf pinbar?
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my name is tom and i like crayons
  • #122,693
  • Jan 21, 2013 8:49am Jan 21, 2013 8:49am
Quoting Rust
/Sorry for offtopic/
A little dusty lately, but still one of my very favorite items I was a rockstar wannabe in my high school years hehe
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There's still time, keep at it.

I find playing the guitar relaxes me between staring at charts.
  • #122,694
  • Jan 21, 2013 8:51am Jan 21, 2013 8:51am
Quoting nwo-trader
Good Morning J16 crew,
Mike I was wondering if the USDJPY 4HR Beob has you interested at all, or if there is some reason you would pass on this one. Nice divergence at a BRN. Am I correct in thinking you would want a tighter squeeze wedge pattern, and then a close outside the pattern? If we close as we are the daily BEOB looks good.

Have a great day all :-)
Hey NWO

This beob formed at a very slow time of night and is a bit too small for me. I have the same drawings on my chart as well and prefer to watch how price reacts around the rising TL. If that beob was larger then I would have played it. Today is a US holiday so I am not really looking to get involved either with momentum generally going to be low

Best
Mike
  • #122,695
  • Jan 21, 2013 9:44am Jan 21, 2013 9:44am
Quoting zamfir
Mike & Jaroo,

When is the new site opening?

BTW, how is Jim doing? Hope he is in good health.
Hey Z

New site is not far off, can't give an exact date, but will be around the corner

Jim is doing good he will be back and dropping in once the new site gets launched

Best
Mike
  • #122,696
  • Jan 21, 2013 9:57am Jan 21, 2013 9:57am
This is an excellent one. GBPNZD at 1,9 BRN. SL is already in BE.

Don't hesitate to comment guys if you disagree. (or anyway)
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  • #122,697
  • Jan 21, 2013 11:58am Jan 21, 2013 11:58am
Hello, Mike! I have writtent my post on the page 8180, the third post from the bottom... it was posted too late coz of moderation (i'm new, that's the reason).
I will be grateful to you if you respond to my post

Again thanks
  • #122,698
  • Jan 21, 2013 12:04pm Jan 21, 2013 12:04pm
H1 Pinbar on GBP/USD.
  • #122,699
  • Jan 21, 2013 12:47pm Jan 21, 2013 12:47pm
Quoting daveone
H1 Pinbar on GBP/USD.
a small bar after a looong downtrend. at almost no liquidity because late in the day and on us-holiday. therefore a no-trade for me.
only plus: it is at former demand-area.
meine augen sind die sterne
  • #122,700
  • Jan 21, 2013 1:16pm Jan 21, 2013 1:16pm
Quoting sloker
Hello, Mike! I have writtent my post on the page 8180, the third post from the bottom... it was posted too late coz of moderation (i'm new, that's the reason).
I will be grateful to you if you respond to my post

Again thanks
Hey Sloker

Your boxing is dead on and perfect. I wouldn't drop down timeframes too far as then you start to have a disconnect. Often people identify good areas then drop down so far and try to take any bar that fits a bar criteria taught and get killed. I prefer to see new traders doing all their analysis on the same timeframe. It keeps things simple and generally I have seen that works better when starting out

Best
Mike
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