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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

  • #123,501
  • Feb 28, 2013 1:37pm Feb 28, 2013 1:37pm
Quoting Armagedoom
And just closed full position with 1/3 of the risk as profit (risk 1, profit 1/3). Im focusing now on the entrances and FTA, but in the future I intend to go BE at those spots then let the rest run.

http://i.imgur.com/aw6Wa6l.png


Nice move you caught there

Best
Mike
  • #123,502
  • Feb 28, 2013 3:44pm Feb 28, 2013 3:44pm
Hey guys,
I`m looking at this one:
USDCAD weekly wedge
daily buob...I`m looking to enter on break this buob above 1.0300 RN
Can I have your opinions,please?Thank you!
weekly and daily charts
http://img708.imageshack.us/img708/6931/0usdcadw1.gif
http://img716.imageshack.us/img716/6855/1usdcadd1.gif
  • #123,503
  • Feb 28, 2013 4:16pm Feb 28, 2013 4:16pm
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
Quoting mbqb11
Hey guys

The problem I have is with the location of the beob(for fascist). Now Hummar you are in earlier so that gives you some more options but I spoke about this in my webinar last night

I don't feel that you have as many options no matter if you entered at 1.33(which was a KILLER entry), or the break of the beob(I took the break of the usd/dkk). So playing the most recent beob outright is very tricky

This is where people get caught with continuation bars. Here we have a big beob at a swing low, but right under us is a major PPZ and BRN...
Thanks Mike,

I agree that I was a little bit too optimistic and probably I should exit around 1.3050. Price turned at 1.3160 and now we are at the same place. I am thinking about best option right now. I can take 250 pip profit or wait for breakout with tight SL, for example just above 1.3100. What concern me is that this move down does not have such big momentum (at H4 and H1 chart) like last two waves. What do You think?
  • #123,504
  • Feb 28, 2013 8:14pm Feb 28, 2013 8:14pm
USDCHF, BUOB break out the trend line.
Attached Image (click to enlarge)
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  • #123,505
  • Feb 28, 2013 8:18pm Feb 28, 2013 8:18pm
In case anyone is interested. Something to keep in mind when placing trades.
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I'm a dog chasing cars.
  • #123,506
  • Feb 28, 2013 10:13pm Feb 28, 2013 10:13pm
Quoting mbqb11
Hey Kenny

A retracement of a PA bar is taken at some point before that bar breaks. For my aud/jpy this was taken at the PPZ level of the BRN and boxing of previous price. This was also a retracement of the BEOB before it broke. So in the case I posted this is a retracement of a PA bar itself to a major s/r and highly confluenced area.

Hope that helps
Mike
Thanks Mike,

I afraid that I misunderstood you, so let me rephrase what you've said.

Basically a BEOB is formed but due to the large size of the bar, you prefer to trade at the retracement because there is a strong resistance from the BRN which is also a PPZ.

Is that what you mean?

Kenny
  • #123,507
  • Feb 28, 2013 10:43pm Feb 28, 2013 10:43pm
Quoting ken.b
Thanks Mike,

I afraid that I misunderstood you, so let me rephrase what you've said.

Basically a BEOB is formed but due to the large size of the bar, you prefer to trade at the retracement because there is a strong resistance from the BRN which is also a PPZ.

Is that what you mean?

Kenny
Hey Kenny

I trade all bars mostly on a break of the bar actually. That is a break of the low in the case of a BEOB. Another way to trade all bars is on a pullback or retracement. In the case of the aud/jpy I preferred the retracement since the confluence at the level was so great and I felt offered me more flexibility of my order

Every type of entry(on a break, retracement, close of bar etc) have advantages and disadvantages

Let me know if that makes sense
Mike
  • #123,508
  • Mar 1, 2013 12:11am Mar 1, 2013 12:11am
Quoting ping-ping
USDCHF, BUOB break out the trend line.
I watched this one, but I have reasons to doubt it will work. See the chart. So I pass this. Just my opinion.
Attached Image (click to enlarge)
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If not up, then down, otherwise sideways :-)
  • #123,509
  • Mar 1, 2013 12:17am Mar 1, 2013 12:17am
Quoting ping-ping
USDCHF, BUOB break out the trend line.

Quoting Magestic
I watched this one, but I have reasons to doubt it will work. See the chart. So I pass this. Just my opinion.


Your going to make Mike's (mbqb11) heart warm with that one, ping-ping and Magestic . .

Price Pattern BreakOut with a Bullish Outside Bar (BUOB) . . a potential Continuation PA with a nice story to back it up.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #123,510
  • Mar 1, 2013 12:25am Mar 1, 2013 12:25am
Quoting iuliu00
Hey guys,
I`m looking at this one:
USDCAD weekly wedge
daily buob...I`m looking to enter on break this buob above 1.0300 RN
Can I have your opinions,please?Thank you!
weekly and daily charts
http://img708.imageshack.us/img708/6931/0usdcadw1.gif
http://img716.imageshack.us/img716/6855/1usdcadd1.gif
From my point of view, the decending TL you draw can be not the valid one. My weekly view is a little bit different. What I wanted here - 3rd rejection off the TL, to confirm it's valid, but right now I'm confused about it...
Attached Image (click to enlarge)
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If not up, then down, otherwise sideways :-)
  • #123,511
  • Mar 1, 2013 3:52am Mar 1, 2013 3:52am
Quoting Pinbar
Yeah, it has that stairway like wind up to it.

May break through, may not but as you say, we need to wait for price to show us how strong the level itself is, therefore showing us how interested the buyers or sellers are. Price is like us before diving into a swimming pool, it needs to put its toe in and feel how cold or warm the pool is.
Then either dive in or head off to the bar.
Man . .its been too long since I've been here . .
Indicators show the past. Price Action "Indicates" the future.
  • #123,512
  • Edited 4:20am Mar 1, 2013 3:54am | Edited 4:20am
Quoting gasgas
I gave this one a shot. No close above HCR, resistance confirmation,double top with divergence.
I wonder if Jaroo would play this one or pass it...

GG

Hell ya GG . . . .Bam Baby!! . . in both directions just by following the Close of Price . .targeted levels important on this one.



Jim
Indicators show the past. Price Action "Indicates" the future.
  • #123,513
  • Edited 4:20am Mar 1, 2013 4:00am | Edited 4:20am
Quoting gasgas
I gave this one a shot. No close above HCR, resistance confirmation,double top with divergence.
I wonder if Jaroo would play this one or pass it...

GG


Quoting jarroo
Hell ya GG . . . .Bam Baby!! . . in both directions just by following the Close of Price . .targeted levels important on this one.



Jim
chart . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #123,514
  • Mar 1, 2013 4:02am Mar 1, 2013 4:02am
Quoting inditrader
GBP/USD does as expected at 5200 levels. 80 Pips on my side and stop brought to breakeven. Whenever I trade confluence, my success rate remains phenomenal. Now I wonder why I used to trade all those rat/cat moves in my earlier days?


Hi Mike,
What is your opinion on this pair? I feel it is weak as the retest at weekly/daily PPZ ( break of multiple swing lows both on daily and weekly) was successful.

Though BRN 5000 remains a big barrier, Don't you think it has the potential to move further down in to 4000 levels?

Love to hear from you.
GU does a expected at 5200 with a big bang! I expect some huge activity at BRN 5000.
Regards Inditrader
  • #123,515
  • Mar 1, 2013 4:31am Mar 1, 2013 4:31am
Quoting jarroo
Man . .its been too long since I've been here . .

We all get busy sometimes.

I like this Monthly Weekly Dual Level, if it can get past the lower weekly level.

Glad to see you back Jim.
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  • #123,516
  • Mar 1, 2013 4:37am Mar 1, 2013 4:37am
Quoting Pinbar
We all get busy sometimes.

I like this Monthly Weekly Dual Level, if it can get past the lower weekly level.

Glad to see you back Jim.
I like it Steve .. that Weekly HCR level is a Daily HCR too . . . .1.0406
Indicators show the past. Price Action "Indicates" the future.
  • #123,517
  • Mar 1, 2013 4:48am Mar 1, 2013 4:48am
Quoting jarroo
I like it Steve .. that Weekly HCR level is a Daily HCR too . . . .1.0406

Yeah, that is why I chose it over the previous weekly HCR.

That monthly one is a weekly also and has the BRN with it.
  • #123,518
  • Mar 1, 2013 5:13am Mar 1, 2013 5:13am
Quoting Pinbar
Yeah, that is why I chose it over the previous weekly HCR.

That monthly one is a weekly also and has the BRN with it.
Yes I agreee . .
Indicators show the past. Price Action "Indicates" the future.
  • #123,519
  • Edited 5:34am Mar 1, 2013 5:23am | Edited 5:34am
Quoting Pinbar
Here are a couple of charts.

Remember, we are not looking for a HCR or LCS on the current swing, we are looking for a previous Swing Point.

Hope they help.

I know it can sound very confusing at first.

Set your CHF/JPY chart up with the same levels and watch what happens at this level.
Try and find a Monthly & Weekly Level that are the same level or, a Weekly & Daily level.
Nice charts and analysis Steve . . nice work . .

We are still waiting for Price to come back to those levels . . . .

Price came back to some of them that you have noted .. . .nice.

Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #123,520
  • Mar 1, 2013 6:45am Mar 1, 2013 6:45am
Wait a minute, james16 and jarro is the same guy???? I can't thank you guys enough really. Even you are the same jim or not. You just turned the "nitrous oxide" into my trading system. I will soon enough to join the PF with profits from my mini account
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