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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

  • #123,261
  • Feb 14, 2013 10:39pm Feb 14, 2013 10:39pm
Quoting mike w
Hey everybody, just dropping in to say hi! I hope everyone is doing great here, it's been a while since I've logged on to see ya. Still doing what we've always done and been taught to do. For the new guys, stick to the basics. It will carry you far in this business. Mike, Jim and Jim will lead you to the promised land. Just apply that and you'll be living good. Big Mike, what's new buddy?

I do plan on becoming more active at some point down the road, just found that once I left the forum for a bit, price decided to follow me to a tee....
wow dude that is a face I am glad to see pop in!

How are you buddy! Good to see you coming back soon and glad your trading is going well couldn't be happier for you

Best
Mike
  • #123,262
  • Feb 15, 2013 2:20am Feb 15, 2013 2:20am
Updating my EURUSD trade.

Price is approaching a noise area and a strong PPZ, showing H4 chart for managing this one. I reduced my risk and will move to BE in case this H4 candle close as a pinbar/BEOB and get its low broken, given the level where it is forming. Next area to check PA reaction will be the horizontal line drawn and 61.8 gibo level, showing some PPZ confluence (still quite a noisy area anyway).

We'll see how this go

Any comments off it? rarely you guys comment my setups
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  • #123,263
  • Feb 15, 2013 3:11am Feb 15, 2013 3:11am
hello i got excited about this pinbar!, but it didnt break and was invalidated.
theres another one forming now.. but i think i will just stay way from it and just watch it
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my name is tom and i like crayons
  • #123,264
  • Feb 15, 2013 3:15am Feb 15, 2013 3:15am
Quoting CryAgony
Updating my EURUSD trade.

Price is approaching a noise area and a strong PPZ, showing H4 chart for managing this one. I reduced my risk and will move to BE in case this H4 candle close as a pinbar/BEOB and get its low broken, given the level where it is forming. Next area to check PA reaction will be the horizontal line drawn and 61.8 gibo level, showing some PPZ confluence (still quite a noisy area anyway).

We'll see how this go

Any comments off it? rarely you guys comment my setups
Hi!

I think, you have quite strong PPZ here in front, and also rising trendline. I think the best option is to move to BE, and see what will happen here... Thats my opinion, wait for comments some senior guys
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  • #123,265
  • Feb 15, 2013 3:42am Feb 15, 2013 3:42am
Quoting nejcb1
Hi!

I think, you have quite strong PPZ here in front, and also rising trendline. I think the best option is to move to BE, and see what will happen here... Thats my opinion, wait for comments some senior guys
Thx for your post and for your analysis, pretty coerent with mine! Many thx again.
  • #123,266
  • Feb 15, 2013 7:29am Feb 15, 2013 7:29am
Quoting CryAgony
Thx for your post and for your analysis, pretty coerent with mine! Many thx again.
Try to ask mike, he's one of the most kind person to explain all of the chart things you need. Also his explanation is very clear for me. The lesson he gave, makes me more thorough on my chart to see what happens next. And just two days ago i made a recomendation a sell setup on the gold chart. And the whole staff on my office (futures company) look at me with their silly face and said about indicators bla bla and bla. I think they all go home with their clients yelling at them now
  • #123,267
  • Feb 15, 2013 11:49am Feb 15, 2013 11:49am
Hy Mike,

EURAUD...possible monthly evening star
4 Hour looks good for entry.
I think we must have a close below 1.2966, the close of the week before...
What`s youre meaning?
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lieber aufrecht sterben als kniend leben
  • #123,268
  • Feb 15, 2013 12:50pm Feb 15, 2013 12:50pm
Hi guys/gals,

Gradually reading through the thread and getting to grips with pin bar price action on daily bars. Like we all know, good pin bar set-ups do not come around often, so I was looking at other price action set-ups to add to my repertoire. I am looking at Jarroo's method. My question is are people still using this method (Jarroo's) and is it still effective? Many thanks
  • #123,269
  • Feb 15, 2013 1:05pm Feb 15, 2013 1:05pm
Hello james16 thread,

Just thought I'd share a trade I entered last week that I closed yesterday. James' teachings are definitely the sole reason this trade turned out to be profitable. I took the initial entry signal off a weekly pin bar and waited for daily bars to close before considering whether or not to exit/advance my sl on the trade. This has been the only trade I've taken for the past two weeks. Rifle shots! I can't thank this thread enough for how much it has taught me.

--ElectroGypsy
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I'm a dog chasing cars.
  • #123,270
  • Feb 15, 2013 9:31pm Feb 15, 2013 9:31pm
Quoting ElectroGypsy
Hello james16 thread,

Just thought I'd share a trade I entered last week that I closed yesterday. James' teachings are definitely the sole reason this trade turned out to be profitable. I took the initial entry signal off a weekly pin bar and waited for daily bars to close before considering whether or not to exit/advance my sl on the trade. This has been the only trade I've taken for the past two weeks. Rifle shots! I can't thank this thread enough for how much it has taught me.

--ElectroGypsy
Congrats on your 1st attempt. But I am curious on the stop loss you put. Do you have stop loss? If it is on the top of pb, you are already out of the trade, and if it is on the first eye, it is way too much, especially it really turns against you.

Perhaps you should demo a period of time, it will be good for you.

fxbreeze
  • #123,271
  • Feb 16, 2013 3:30am Feb 16, 2013 3:30am
Hello guys. I'm watching these pairs for the next week, what do you think of it?

AUDUSD
Price printed on Friday a BEOB, after a Thursday of consolidation (IB) at a critical PPZ. Confluence: steep TL to be confirmed+PPZ Flip+ema's (mean value)
The beob is huge so i'll be looking for a retrace setup on H4

GBPNZD
I see a good area to look for shorts at 1.85 BRN, being confluence again with mean value and swing level (this horizontal level served also as S once in the past, if you zoom out your chart)


There is also a setup on GBPJPY, but it doesn't look strong enough in my opinio: too few space to run and the break below the BRN is surely not bullish oriented

Ciao
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  • #123,272
  • Feb 16, 2013 3:34am Feb 16, 2013 3:34am
Quoting aserbfx
german qiagen approaching an interesting zone near round number 15 euro and former resistance.
the company is also listed in the us as qgen, btw.
do not step in blindly in either direction, but let the market decide which way to trade.
qiagen decided to explode north...
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meine augen sind die sterne
  • #123,273
  • Edited 1:29pm Feb 16, 2013 9:34am | Edited 1:29pm
Hi all,

For the last week I've been reading this thread mostly, aswell as watching the charts to see if I could spot something.
Then I came around the GBP/AUD, where I saw price failing to test 1.5 BRN, while printed a buob (with a lower low that shows convergence with MAC/d).
http://s7.postimage.org/81u4j5c0b/GA_Buob_15_2_13.png
So I wondered, has any of you stumbled on this setup?
If so, please share with me your insight on the setup.

Kind regards,
Donaciello.
It's a sport, an artform and a science.
  • #123,274
  • Feb 16, 2013 9:48am Feb 16, 2013 9:48am
Quoting fxbreeze
Congrats on your 1st attempt. But I am curious on the stop loss you put. Do you have stop loss? If it is on the top of pb, you are already out of the trade, and if it is on the first eye, it is way too much, especially it really turns against you.

Perhaps you should demo a period of time, it will be good for you.

fxbreeze
Hey fx,

The stop loss was put on top of the weekly pinbar. The sl placement was sound IMO, because my R:R was still 1:1. I generally follow a conservative approach to SL and TP placements as long as my RR is greater than or equal to 1.
I'm a dog chasing cars.
  • #123,275
  • Feb 16, 2013 11:12am Feb 16, 2013 11:12am
ILMN on weekly.
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meine augen sind die sterne
  • #123,276
  • Feb 17, 2013 5:10am Feb 17, 2013 5:10am
Quoting mbqb11
here is my clip from yesterdays webinar hope it helps

http://rapidshare.com/files/30399486...aily%20pin.wmv
Hi Mike/anyone,

You don't see me here to often, usually watching from the sidelines, but today I got a question :-)

GBP/USD D1
I personally have never paid too much attention to lows/highs, just to closes...
Why do you consider these lows important? If I get to understand their "mechanic" it will be easier for me to focus on them and psychology behind them.

Thanks,
Fil.
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  • #123,277
  • Feb 17, 2013 7:00am Feb 17, 2013 7:00am
hey all sorry for the delay in getting back to any questions. Have been handling some business outside the trading world and will be back in the saddle either late late tonight or tomorrow

Thanks for your patience

Mike
  • #123,278
  • Feb 17, 2013 7:09pm Feb 17, 2013 7:09pm
Quoting nejcb1
Hi!

Great EURAUD analysis Mike. What do you think about GBPAUD? There is some space on left, to the FTA if this trendline is broken. We have also BRN of 1.5000 here.
Hey Nej

I will be watching this area for a breakout also

A few people asked me about the BUOB and the buob for me is much like the bullish gbp/usd pinbar we had the other day that many got hurt on. So that webinar clip I posted could be transferred to this situation. Not a lot of room to work with so a pass for me coming off the strong down move and traffic. I will be watching for a breakout short IF it happens as well

Best
Mike
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  • #123,279
  • Feb 17, 2013 7:25pm Feb 17, 2013 7:25pm
Quoting Armagedoom
Hey guys thx for the answers.
I took those two trades (in demo, I just beggining). Could you please comment on them?

First one, DBLHC (Huge higher close btw, 5th bar from the last one) + breakout + close over the breakout.
Entrance after the break of that bar. I still have second thoughts if its a DBLHC or the lows arent as close together as they should for being that.
Is a good PA bar + breakout of a TL/S/R + Close over the breakout good enough to enter or is it better to always wait for retracement (even if the breakout happens with a PA...
Hey A

Be careful here with both these bars

When starting out we want to look for BUOBs and DBLHC at swing lows. Both of your bars are up at swing high points and are what I consider much more advanced location to learn these bars

Stick to learning them at the proper swing points James teaches first while building a good foundation for your PA

BEst
Mike
  • #123,280
  • Feb 17, 2013 7:34pm Feb 17, 2013 7:34pm
Quoting CryAgony
Updating my EURUSD trade.

Price is approaching a noise area and a strong PPZ, showing H4 chart for managing this one. I reduced my risk and will move to BE in case this H4 candle close as a pinbar/BEOB and get its low broken, given the level where it is forming. Next area to check PA reaction will be the horizontal line drawn and 61.8 gibo level, showing some PPZ confluence (still quite a noisy area anyway).

We'll see how this go

Any comments off it? rarely you guys comment my setups
Hey CA

Your PPZs are marked very well> I am not sure why you sold where you did on your chart. Were you looking to trade the pinbar? Why not sell below the pinbar low? then look for the PPZ to break and hold(it pierced right through)

Best
Mike
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