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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

  • #126,781
  • Jul 12, 2013 11:50am Jul 12, 2013 11:50am
Quoting str8
{quote} Mike, when you shorted that H&S from 4hr did you take the trade even if no PA has formed or did you take it because if you blend the breakout bar with the other 2 bars before it there is a BEOB on 12hr chart?

Hey Str8

Yep I combined two 4hr bars to create an 8hr beob though.

Best
Mike
  • #126,782
  • Jul 12, 2013 11:56am Jul 12, 2013 11:56am
Quoting dennis4u15
hi mike, i just saw ur webinar on prices being stuck in a box...it was very helpful...could u please have a look and confirm if the AUD/JPY is also boxed? Regards Dennis {image}
hey Dennis

Glad it helped! yep you got it price is stuck sideways in a box there


Mike
  • #126,783
  • Jul 12, 2013 12:04pm Jul 12, 2013 12:04pm
Quoting Jjms
Hi Guys, Mostly lurker, still in the early learning here, but thought I'd post this to see if I'm looking at possible breakouts correctly. Is this potentially heading that way? Especially if that last candle finishes as an IB? Screenshot a bit off, but it's EURJPY, Daily. {image}
Hey Jj

Good to see you come out of lurk mode

Yes price is winding up right with the BRN of 130 just above us. I prefer that rising TL to watch and use for possible PA since it's more accurate with more exact touches(the descending TL has a lot of space b/w the touches of the first point). But yes price is at a very important PPZ and also now wedging up. Something is gonna happen

Good to see you posting
Mike
  • #126,784
  • Jul 12, 2013 12:37pm Jul 12, 2013 12:37pm
Quoting tehuringa
Man.....6340 pages. An epic thread fellas......hat's off to Jim, Mike and all the members behind it and I hope you are all well
Just got your PM good to see you buddy

Hope you are enjoying that wine yummmm !


Mike
  • #126,785
  • Jul 12, 2013 1:29pm Jul 12, 2013 1:29pm
Quoting mbqb11
{quote} Hey Str8 Yep I combined two 4hr bars to create an 8hr beob though. Best Mike

Hey Mike

Which two bars did you combine? Because if it was a 8 hour BEOB then their could be two options. Out of the 3 bearish bars near that trendline chose either 1 and 2 bars or bars 2 and 3.

1 and 2 seemed to have a weak close, or didn't close below the trendline, and 2 and 3 didn't enfulf the previous bar.

Could you elaborate please?

Hope I didn't confuse you.

Many thanks
  • #126,786
  • Jul 12, 2013 1:36pm Jul 12, 2013 1:36pm
Quoting hunzul
{quote} Hey Mike Which two bars did you combine? Because if it was a 8 hour BEOB then their could be two options. Out of the 3 bearish bars near that trendline chose either 1 and 2 bars or bars 2 and 3. 1 and 2 seemed to have a weak close, or didn't close below the trendline, and 2 and 3 didn't enfulf the previous bar. Could you elaborate please? Hope I didn't confuse you. Many thanks
hey hunzul

Here is my original chart from the private forum

I marked the 8hr beob

Best
Mike
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  • #126,787
  • Jul 12, 2013 2:15pm Jul 12, 2013 2:15pm
Thanks Mike.

From what I know about you(and forgive me if I'm wrong) I would have thought you would have wanted a close below the trendline.

Is there any particular reason why you didn't?
  • #126,788
  • Jul 12, 2013 2:26pm Jul 12, 2013 2:26pm
Quoting hunzul
Thanks Mike. From what I know about you(and forgive me if I'm wrong) I would have thought you would have wanted a close below the trendline. Is there any particular reason why you didn't?
Hey Hunzul

A close doesn't necessarily have to be under the TL in the case of what I call premptive bar breakouts. The bar itself is supposed to represent a tip off of what is to come. More important is the story of the setup and understanding where price should go and not go. For example when price breaks the low it should not come back up past that TL much further and in fact I used the BRN and FTA to manage this trade

Here is chart 2


Best
mike
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  • #126,789
  • Jul 12, 2013 3:01pm Jul 12, 2013 3:01pm
Thanks Mike
  • #126,790
  • Jul 13, 2013 4:27am Jul 13, 2013 4:27am
Mike,
how do you like the plan?
http://i1243.photobucket.com/albums/...ps7ab71964.jpg
  • #126,791
  • Jul 13, 2013 5:14am Jul 13, 2013 5:14am
Jpy confused
http://i1243.photobucket.com/albums/...ps15616809.jpg

http://i1243.photobucket.com/albums/...ps7d460857.jpg
  • #126,792
  • Jul 13, 2013 7:28am Jul 13, 2013 7:28am
hey Mike,
UADCAD
http://i1243.photobucket.com/albums/...ps4f940030.jpg
http://i1243.photobucket.com/albums/...ps59b3bb15.jpg
http://i1243.photobucket.com/albums/...psd33276b1.jpg
  • #126,793
  • Jul 13, 2013 10:26am Jul 13, 2013 10:26am
week 3 is in line with the monthly

Quoting GiovanniV
Jpy confused {image} {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #126,794
  • Jul 13, 2013 11:45am Jul 13, 2013 11:45am
Quoting GiovanniV
Mike, how do you like the plan? {image}
Hey G

I actually like silver better even though they will move probably pretty close. I just like the BRN and more clear TL like so


Best
Mike
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  • #126,795
  • Jul 13, 2013 2:05pm Jul 13, 2013 2:05pm
two setups from the german stock market for the following week:
BIJ and CWC on weekly
one short and one long opportunity
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: CEWE COLOR HOLDING O.N..png Size: 21 KB
meine augen sind die sterne
  • #126,796
  • Jul 14, 2013 4:42am Jul 14, 2013 4:42am
Hello! James,

I came to this market in 2010, but I beard loss of approximately $ 5000 which stopped me to trade in real account. Then I started to trade in demo account & start collecting the thorough information about the forex. I am trading in demo account till date, and have got many profitable positions there. In few days I am planning to trade in real account & will post some charts in Forex Factory. I like the posts of Jems16, have learned many things from this. So I would like to request for the comments for my chart as well.

Thank You,

THAPRI.
  • #126,797
  • Jul 14, 2013 10:13am Jul 14, 2013 10:13am
Quoting Thapri
Hello! James, I came to this market in 2010, but I beard loss of approximately $ 5000 which stopped me to trade in real account. Then I started to trade in demo account & start collecting the thorough information about the forex. I am trading in demo account till date, and have got many profitable positions there. In few days I am planning to trade in real account & will post some charts in Forex Factory. I like the posts of Jems16, have learned many things from this. So I would like to request for the comments for my chart as well. Thank You, THAPRI....
Hey Thapri

Welcome to the thread!

Glad to hear you went back to demo, many fail to do so and don't give themselves a chance to learn this business before blowing all their hard saved money

Best of luck and look forward to your charts
Mike
  • #126,798
  • Jul 14, 2013 11:39am Jul 14, 2013 11:39am
BRCD - UPDATE

I've been watching this equity chart for the last few weeks and it worked out perfectly.

Now, there wasn't a price action bar to tip off but, I was looking for price to close outside of the wedge and then set a buy with a buffer. First broke the wedge 2 weeks about didn't trigger. Then closed again above the wedge.

Shot straight up. These can be much trickier to play since there isn't a price action bar to manage but there is basically no room left in this well defined wedge.
Attached Image
  • #126,799
  • Jul 14, 2013 1:30pm Jul 14, 2013 1:30pm
I have a question about EMAs. I see that many use 365 ema and 150 ema but I don't understand if they use these emas on all time frames or if they use different emas for different time frames.
365 ema on the weekly chart is not the same with 365 ema from daily chart which is not the same with 365 ema from 4 hr chart. Do you use 365 and 150 ema no matter what time frame is?
  • #126,800
  • Jul 14, 2013 1:37pm Jul 14, 2013 1:37pm
Quoting str8
I have a question about EMAs. I see that many use 365 ema and 150 ema but I don't understand if they use these emas on all time frames or if they use different emas for different time frames. 365 ema on the weekly chart is not the same with 365 ema from daily chart which is not the same with 365 ema from 4 hr chart. Do you use 365 and 150 ema no matter what time frame is?
Hey Str8


Yep you use the same EMA no matter the timeframe. This is something James and many like to do to help find additional confluence and directions on trades/trouble areas


Best
Mike
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