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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

  • #123,301
  • Feb 18, 2013 12:18pm Feb 18, 2013 12:18pm
Hey guys

Does this look like a valid breakout pattern?

There is a strong support level not to far down, but it might be a good short term trade.

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Thanks
Cloud
  • #123,302
  • Feb 18, 2013 12:18pm Feb 18, 2013 12:18pm
Quoting 4xjoema
Hi all,
Awesome thread here! Started reading last week from the begining so far made it to page 44 . I also caught the pin bar eur/usd exited due to the noise. Just my observation looks like a possible break to the upside of the wedge on h4 what are your thoughts?
welcome to the thread joema

Let's see if price holds at this TL or can break under and the pivot can hold. I still think it looks bearish but we have to let price tell us

BEst
Mike
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  • #123,303
  • Feb 18, 2013 5:13pm Feb 18, 2013 5:13pm
Quoting Martin600
Hi Mike,
I´m starting to try to learn a breakout trades. I would like to ask you if you think that the patterns which I draw below are ok or you would draw it by different way?

Thank you very much for your help
Martin
Hi i also looked at the usd chf, but with the weekly time frame looks it"s a clearly a down trend. Let's see how price action tells us about this week
  • #123,304
  • Feb 18, 2013 7:53pm Feb 18, 2013 7:53pm
Quoting ghous
Hey Dan,

To start off, I dont exactly trade like jarroo. Once price breaks through his levels, the most basic entry of his method looks to catch a breakout. On the other hand I am looking to fade swing points or easily put I am looking for reversals at swing points exclusively.

Secondly, jarroo looks at highs and lows as well, just that he considers bar closes to be important also and has devised a method to take entries of these closes. My method has a lot to do with price cascading into stops which are generally stacked beyond highs and lows...
Great blog Ghous

It is interesting as, I can see that while it is similar to Jarroo's HCR LCS, it is not the same thing, you have personalized it, like we all do with our personal handwriting signature.

Great stuff.
  • #123,305
  • Feb 18, 2013 9:12pm Feb 18, 2013 9:12pm
Quoting Martin600
Hi Mike,
I´m starting to try to learn a breakout trades. I would like to ask you if you think that the patterns which I draw below are ok or you would draw it by different way?

Thank you very much for your help
Martin
all look really great Martin. I have my gbp/usd drawn differently as a larger wedge but your support area is also a good one to watch


Best
Mike
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  • #123,306
  • Feb 19, 2013 1:05am Feb 19, 2013 1:05am
Quoting mbqb11
Hey Jack

I speak with Jim about everyday , he is around but was very busy with his real estate this past year. He is now in the final stages of building our new site and when it is launched he will be back at it once again. Not far from now

Best
Mike
So Mike, What can we expect in the new site?

More videos. More new material?.
  • #123,307
  • Feb 19, 2013 2:30am Feb 19, 2013 2:30am
Hey Mike. Is this a good place for PA? A movement downwards, a consolidation box above BRN , breakout and retest.
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Sorry for my bad English
  • #123,308
  • Feb 19, 2013 3:31am Feb 19, 2013 3:31am
Mike?
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  • #123,309
  • Feb 19, 2013 8:16am Feb 19, 2013 8:16am
Gbp/cad hit s/r at 5500 psychological level opening day of the week rsi divergence buob formed entered on the 50 % retrace of this bar 5600 hit 5680 sold half move to be not an A trade patience is something I am working on . Sorry for no chart I am working and am using my phone to moniter trades. Waiting to see a pa confirmation on eur/usd .
Thank you mike for your reply. I will try harder to remain neutral until pa confirms.

Pip on all
Joe
  • #123,310
  • Feb 19, 2013 8:45am Feb 19, 2013 8:45am
Quoting Rust
Mike?
Attachment
great pattern Rust. Just tricky cause anything under the 30m is hard to find good PA(thus making it harder to find an entry with a shorter pattern). Touch trading this BRN after a break is probably the most logical approach here

Best
Mike
  • #123,311
  • Feb 19, 2013 8:47am Feb 19, 2013 8:47am
Quoting zamfir
So Mike, What can we expect in the new site?

More videos. More new material?.
Hey Z

The new site is completely overhauling the old. The only thing staying as far as I am aware at this time is the forum(and of course all the content is saved which is as relevant then as it is now). It will be much easier to navigate, new material, and continued from the approach we have now. James has a lot of cool things planned, which I will let him reveal when that time comes.

I am excited for it as well to be able to better help people and bring our site up to date

Best
Mike
  • #123,312
  • Feb 19, 2013 8:49am Feb 19, 2013 8:49am
Quoting Sergeant88
Hey Mike. Is this a good place for PA? A movement downwards, a consolidation box above BRN , breakout and retest.
absolutely bud

Mike
  • #123,313
  • Feb 19, 2013 8:56am Feb 19, 2013 8:56am
Quoting mbqb11
massive beob I took on a retrace near $100 mark got to breakeven today aiming a bit lower here
hit my limit on the gap down. Nice big beob gotta love it
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  • #123,314
  • Feb 19, 2013 9:28am Feb 19, 2013 9:28am
Quoting mbqb11
hit my limit on the gap down. Nice big beob gotta love it
great catch!
you need balls to short an uptrend like that (and in a rising market)...
i hope you post more of these setups.
congrats
meine augen sind die sterne
  • #123,315
  • Feb 19, 2013 10:23am Feb 19, 2013 10:23am
Gbp/cad closed position last half 30 Pip. Looks like price rejecting at 50% fib of the last swing high. Looks like s/r there aswell waiting for daily candle to close. Keeping my hind end off them h4 charts
  • #123,316
  • Feb 19, 2013 12:14pm Feb 19, 2013 12:14pm
Newbee here what does brn stand for ?
  • #123,317
  • Edited 12:49pm Feb 19, 2013 12:38pm | Edited 12:49pm
Quoting 4xjoema
Newbee here what does brn stand for ?
Hi, i means Biggest of Round Numbers (it´s every 500 pips, for example 1.0, 1.05, 1.1 and so on), they are useful source of confluence (because they are important psychological levels), you can often see price stop here. It´s always good to trade away from them than into them. Mike is big on them.
Also check this list of terminology created by Pinbar, there are pretty much all shortcuts used in this thread.
http://www.forexfactory.com/showthre...641#post634864
Mav
  • #123,318
  • Feb 19, 2013 2:48pm Feb 19, 2013 2:48pm
Quoting mbqb11
all look really great Martin. I have my gbp/usd drawn differently as a larger wedge but your support area is also a good one to watch


Best
Mike
Mike, please give advise. Concerning your entry is it time for u to move SL here already, although this is not DBHLC by 3 pips. Did u move it?
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If not up, then down, otherwise sideways :-)
  • #123,319
  • Feb 19, 2013 2:50pm Feb 19, 2013 2:50pm
Quoting mbqb11
hit my limit on the gap down. Nice big beob gotta love it
Hi Mike,

Sorry, but I don't really know how to word my question.

How do you trade stocks? I've recently started demoing other markets, but I'm still finding it a little confusing. There's CFD'S (contracts for difference); SSF's (single stock futures); dividend futures; dividend neutral futures; binary options; equities, etc.

Which of these do I go for, if I simply want to trade stocks as a leveraged product, similar to fx?

Hope that you can make some sense of my madness?

Thanks
  • #123,320
  • Edited 4:09pm Feb 19, 2013 3:00pm | Edited 4:09pm
Evening everyone,

Any thoughts on this Jarroo people?

EDIT: Seems I had missed a pretty solid lower trend line which todays candle has bounced off. FTA much closer than thought....
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