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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

  • #125,881
  • Jun 4, 2013 1:11am Jun 4, 2013 1:11am
Quoting Mav13
Hi all, hereīs new trade Iīm currently in. Itīs EURZAR, I played pin bar at swing high. Obviously the disadvantage here is the big bullish bar that preceded the pin bar, but I liked size of this pin bar and its close, also I read somewhere (in Pring or Elder) that these big bars at the end of the trend are often one last push of bulls (or bears in downtrend) and then we can often see a big move in opposite direction because bulls are now out of steam. Well I hope it makes sense at least a little. I reduced my risk and moved SL to BE. I tried to...
Hi Mav.
I am in this trade too.
Also in GBPZAR.
Switched on traling stop. My TP is just a bit higher your green line.
Just my thoughts, I am not a pro.

Daniel.
(PS. Guys from PF, I will come back soon )
  • #125,882
  • Jun 4, 2013 1:11am Jun 4, 2013 1:11am
hi mbqb11,

I am getting to grips slowly with the business of trading.. i just started looking at daily bars at the end of New York session and i try to predict where the price will head at the end of next trading day. I keep a note book and write details there. i did really well on most pairs for Monday by looking at end of Friday bars. Its just that at times i miss some very good setups. I only see them once it has happened, so trying to improve on that. Matybe i am looking at too many pairs. First i draw PPV zones using weekly and daily charts, also use 150 and 365 EMA, make sure i look for Big Round Number in the PPV zone, check the trend, draw FIBs, look for divergence, swing lows or swing highs, double bottom or double top and the bar patterns according to james. Its extremely rare that i get all of them. Mostly 3 or four confluences are found. i do get impatient cos at times i am not able to find a good setup for a few days..is that ok?? I mean there are setups there but i just dont locate it cos i am still learning and also i trade a micro account with around $30 left in it so at times i am just not able to pull the trigger. Example: i had located at least 3 setups Eur/Usd, Gbp/usd and Gbp/Chf but i just didn take it. they all headed the way i predicted. i mean it wasn't big trades, maybe all in the range of 80 - 120 pips. Just wanted to know if it is ok to just place maybe 2 or 3 trades per week. i am trying to be patient as i do not wana lose any more money in my micro trading account.
Also do let me know if i had missed any other confluence for trading.

Regards

Dennis
  • #125,883
  • Jun 4, 2013 2:30am Jun 4, 2013 2:30am
Quoting AlwaysNovice
{quote} Hi Mav. I am in this trade too. Also in GBPZAR. Switched on traling stop. My TP is just a bit higher your green line. Just my thoughts, I am not a pro. Daniel. (PS. Guys from PF, I will come back soon )

Hi Daniel, yeah I saw this situation in GBPZAR and USDZAR but I took this trade only in EURZAR, I didnīt want to get overexposed since all three pairs contain ZAR. Anyway, thanks for your comment

Mav
  • #125,884
  • Jun 4, 2013 3:10am Jun 4, 2013 3:10am
Quoting Mav13
Hi all, hereīs new trade Iīm currently in. Itīs EURZAR, I played pin bar at swing high. Obviously the disadvantage here is the big bullish bar that preceded the pin bar, but I liked size of this pin bar and its close, also I read somewhere (in Pring or Elder) that these big bars at the end of the trend are often one last push of bulls (or bears in downtrend) and then we can often see a big move in opposite direction because bulls are now out of steam. Well I hope it makes sense at least a little. I reduced my risk and moved SL to BE. I tried to...
Yep,the twelve something mark is also A PPZ, the 62% ret of last up move (and of last week by the way) and the 32% if my memory serves me correctly ret of the huge up mo. Sorry can't post a chart right now but imo a strong trouble area.
Slow & steady
  • #125,885
  • Jun 4, 2013 5:18am Jun 4, 2013 5:18am
Quoting patapouer
{quote} Yep,the twelve something mark is also A PPZ, the 62% ret of last up move (and of last week by the way) and the 32% if my memory serves me correctly ret of the huge up mo. Sorry can't post a chart right now but imo a strong trouble area.
Hi, patapouer, yeah, I didnīt notice the 62% ret of up move, thanks for pointing this out.

Mav
  • #125,886
  • Jun 4, 2013 5:36am Jun 4, 2013 5:36am
Quoting Mav13
{quote} Hi, patapouer, yeah, I didnīt notice the 62% ret of up move, thanks for pointing this out. Mav
Hi Mav,
Here come the charts.
Sorry for the delay, was out for lunch...

My view on this move is that price may find trouble by 12.5000 RN / minor flip zone / 50% retracement.
If it dives deeper, I would consider 12.3000 as a major trouble area: strong pivot zone (in my opinion: look in 2008-2009 ), confluence with the 61.8% retracement of the current move, and with the 38% retracement (and not 32 as I wrote in my previous post!) of the large move up started in Jan. 2011 - if it is of any sense...

Anyway, it was - and still is - a nice trade, let's see how it develops

take care

(oh, and btw - sl moved at BE of course...)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013 06 03 eurzardaily update01.png Size: 15 KB
Click to Enlarge Name: 2013 06 03 eurzarweekly.png Size: 18 KB
Slow & steady
  • #125,887
  • Jun 4, 2013 6:35am Jun 4, 2013 6:35am
Hi,
I'm just starting out to learn the PA methods here. Can I know if the below is a double high with lower close.

Thanks


http://charts.mql5.com/1/716/usdchf-...l-services.png
  • #125,888
  • Jun 4, 2013 6:47am Jun 4, 2013 6:47am
Quoting AlwaysNovice
{quote} Hi Mav. I am in this trade too. Also in GBPZAR. Switched on traling stop. My TP is just a bit higher your green line. Just my thoughts, I am not a pro. Daniel. (PS. Guys from PF, I will come back soon )
Quoting Mav13
Hi all, hereīs new trade Iīm currently in. Itīs EURZAR, I played pin bar at swing high. Obviously the disadvantage here is the big bullish bar that preceded the pin bar, but I liked size of this pin bar and its close, also I read somewhere (in Pring or Elder) that these big bars at the end of the trend are often one last push of bulls (or bears in downtrend) and then we can often see a big move in opposite direction because bulls are now out of steam. Well I hope it makes sense at least a little. I reduced my risk and moved SL to BE. I tried to...

great trades guys this worked out really well, nice hard breaks nothing better than that!

Mike
  • #125,889
  • Jun 4, 2013 6:55am Jun 4, 2013 6:55am
Quoting dennis4u15
hi mbqb11, I am getting to grips slowly with the business of trading.. i just started looking at daily bars at the end of New York session and i try to predict where the price will head at the end of next trading day. I keep a note book and write details there. i did really well on most pairs for Monday by looking at end of Friday bars. Its just that at times i miss some very good setups. I only see them once it has happened, so trying to improve on that. Matybe i am looking at too many pairs. First...
Hey Dennis

Doing less in trading is often doing more and ends up being the right thing from my experience. Taking a few trades a week/month is fine. In fact for me it's never about the amount of trades, just about the quality of my trades. If that's 2 trades for the month or 20 is up to what the market gives. Being more picky is ALWAYS better in my book than someone who is less picky. Those that are the most successful that I know personally trade less rather than trade more. They are picky and patient for the best setups and take what the market gives. one of the most common mistakes of new and old traders is over trading. It leads to poor decisions and drawdown.

Continue to be picky and patient and as you grow as a trader you will find your comfort zone

Best
Mike
  • #125,890
  • Jun 4, 2013 7:03am Jun 4, 2013 7:03am
Quoting m00nman26
Hi, I'm just starting out to learn the PA methods here. Can I know if the below is a double high with lower close. Thanks {image}
Hey Moon

Yep that is a DBHLC but be careful when starting out we want to find those up at swing highs as taught by James. This is at a swing low. Although engulfing a nice PPZ

Best
Mike
  • #125,891
  • Jun 4, 2013 7:37am Jun 4, 2013 7:37am
Quoting mbqb11
{quote} Hey Moon Yep that is a DBHLC but be careful when starting out we want to find those up at swing highs as taught by James. This is at a swing low. Although engulfing a nice PPZ Best Mike
Thanks for the explanation. Am still trying to read thru the huge amount of info here.
  • #125,892
  • Jun 4, 2013 8:52am Jun 4, 2013 8:52am
Quoting m00nman26
{quote} Thanks for the explanation. Am still trying to read thru the huge amount of info here.
take your time Moon it is a big thread, filled with great info

Mike
  • #125,893
  • Jun 4, 2013 10:11am Jun 4, 2013 10:11am
Quoting mbqb11
{quote} {quote} great trades guys this worked out really well, nice hard breaks nothing better than that! Mike
Oh man, I miss your webinars, can`t wait to come back!
  • #125,894
  • Jun 4, 2013 10:15am Jun 4, 2013 10:15am
Quoting AlwaysNovice
{quote} Oh man, I miss your webinars, can`t wait to come back!
haha thanks Daniel, just got my iced coffee bout to do one in a bit

We'll be here


Hope all is well
Mike
  • #125,895
  • Jun 4, 2013 10:19am Jun 4, 2013 10:19am
Quoting Mav13
{quote} Hi Daniel, yeah I saw this situation in GBPZAR and USDZAR but I took this trade only in EURZAR, I didnīt want to get overexposed since all three pairs contain ZAR. Anyway, thanks for your comment Mav
Yep, I understand these conceptions and will follow them when I trade real money.

But now as long as I am demoing, I want to remember all moves, that is why I want to think about every pair. Now I can compare usd and gbp movement towards that pair, that gave me some thoughts.

I used to watch charts, not buying/selling for some moths, now I take trades.

Daniel.
  • #125,896
  • Jun 4, 2013 11:20am Jun 4, 2013 11:20am
Quoting jarroo
I had a request for this video . .here it is . . . 2013 GbpNzd- 2012 GbpAud (5-8-13) http://rapidshare.com/files/34232235...20(5-8-13).wmv Jim




Quoting jarroo
{quote} 2013 GbpNzd- 2012 GbpAud (5-9-13) http://rapidshare.com/files/11247138...20(5-9-13).wmv Jim {image}


2013 GbpNzd- 2012 GbpAud (5-13-13) . .two parts . . .


http://rapidshare.com/files/32976822...20part%201.wmv

http://rapidshare.com/files/60744078...20part%202.wmv


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #125,897
  • Jun 4, 2013 1:57pm Jun 4, 2013 1:57pm
Hi Mike & Jarro,

USDJPY

M: trend bullish close above BRN 100
W: BEOB retest BRN no close below
D: IB close above BRN + TL
4: look price action a BRN
http://i1243.photobucket.com/albums/...psb49a6c8d.jpg
http://i1243.photobucket.com/albums/...ps2999e596.jpg
http://i1243.photobucket.com/albums/...psea9f26f4.jpg
  • #125,898
  • Jun 4, 2013 3:07pm Jun 4, 2013 3:07pm
Quoting GiovanniV
Hi Mike & Jarro, USDJPY M: trend bullish close above BRN 100 W: BEOB retest BRN no close below D: IB close above BRN + TL 4: look price action a BRN {image} {image} {image}
Hey G

Yep this is a fantastic area to watch for price action. It may be long or short, or BOTH. That's the beauty of such a good area like the one we are at

Best
Mike
  • #125,899
  • Jun 4, 2013 3:09pm Jun 4, 2013 3:09pm
Quoting GiovanniV
Hi Mike & Jarro, USDJPY M: trend bullish close above BRN 100 W: BEOB retest BRN no close below D: IB close above BRN + TL 4: look price action a BRN {image} {image} {image}
Here's how I see it GiovanniV.

I see the 99.50 as a very strong confluenced level (chart 1) .

. .and Price could not close below the 99.50 on the Daily , confirming that it flipped to strong Support. (chart 2),

The Daily IB maybe the PA formation for more upward movement if it breaks to the upside. Although a BUOB or a Bullish PB would have been a stronger PA formation to give this pair a stronger Bullish Bias.

The IB is at a good location . .could go either away but I like the upside.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4.gif Size: 29 KB
Click to Enlarge Name: 4a.gif Size: 26 KB
Indicators show the past. Price Action "Indicates" the future.
  • #125,900
  • Jun 4, 2013 3:14pm Jun 4, 2013 3:14pm
Quoting patapouer
{quote} Hi Mav, Here come the charts. Sorry for the delay, was out for lunch... My view on this move is that price may find trouble by 12.5000 RN / minor flip zone / 50% retracement...
Hi patapouer, thanks for your charts and analysis.

Quoting mbqb11
{quote} {quote} great trades guys this worked out really well, nice hard breaks nothing better than that! Mike
Hi Mike, thanks for your kind words, means a lot.

Mav
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