james16 Chart Thread | Page 6345 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #126,881
  • Jul 21, 2013 4:28am Jul 21, 2013 4:28am
hi guys, what do you thing about sell cooper at 3.2138 (midle line) with stop 3.2583 (high line)? may be you see some troubles for this trade?
Attached Image
  • #126,882
  • Jul 21, 2013 9:18am Jul 21, 2013 9:18am
Some really nice PBT signals last week, hope any got some bucks from it
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpydaily.png Size: 56 KB
Click to Enlarge Name: usdjpydaily.png Size: 54 KB
Click to Enlarge Name: nzdusddaily.png Size: 52 KB
  • #126,883
  • Jul 21, 2013 9:30am Jul 21, 2013 9:30am
Quoting fxdad
{quote} Hey Mike Thank you again for your reply. Could you explain what placing 'bounds' on pending orders mean? Cheers
Hey Fx

Placing bounds is a way to limit your exposure to slippage on a market order. A stop order is a market order. For example a buy stop when hit turns into a market order. So most brokers allow you to put bounds or a deviation on this order saying I will accept up to X amount of pips slippage. So I like to use this in order to take some slippage in a fast market but not get crushed if spreads really go nuts

Best
Mike
  • #126,884
  • Jul 21, 2013 10:11am Jul 21, 2013 10:11am
Quoting Viktor_749
Mike, what do you think about this chart and trade? {image}
Hey Viktor

I think you have an interesting looking chart there with some good confluence

When I trade equities I trade them from the weekly to smooth out the PA and get rid of the gaps and what not so for me this isn't something I do personally. But I like your use of confluence there

Best
Mike
  • #126,885
  • Jul 21, 2013 10:33am Jul 21, 2013 10:33am
Quoting Magestic
Is that a classic BEOB? {image}
Great job here Mag

A lot of people were asking about this one in the PF and I think you played it perfect. Overall this pair has been very sideways and had major previous resistance just under your take profit. I think taking this as a "quick hitter" as I call them is perfectly played

Mike
  • #126,886
  • Jul 21, 2013 6:56pm Jul 21, 2013 6:56pm
Hello everyone! I'm very new here, this is my first post! I know...I'm about 8 years late to the party. Hopefully it's still as active as ever. I've spent the last few days reading and watching. I have a few years left until I'm caught up...

I've been watching Mike's old videos on the guest section of the group page and I'm wondering if you believe there's any merit to watching this setup (NZD/USD, Daily) for a breakout trade regarding this group's methodology. I understand your particular method for trading breakouts involves a couple of criteria to look for:

  1. Allow initial breakout and pullback to previous support/resistance (new support/resistance confirmation) to occur
  2. Enter with price action confirmation (bullish/bearish outside bar, pin bar, double top w/lower close, etc)

Obviously, there is no price action confirmation yet but it has broken out and held the former resistance as support 3 times now. I'm just wondering if you guys would even consider watching this for a breakout trade to start with. Is there too much traffic? Is it bad because it's counter trend? Do the tails poking back into the box bode poorly for the setup? I'm just trying to wrap my head around the breakout thought process! Thanks in advance.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 34 KB
  • #126,887
  • Jul 21, 2013 8:04pm Jul 21, 2013 8:04pm
Quoting LiFZ
Hello everyone! I'm very new here, this is my first post! I know...I'm about 8 years late to the party. Hopefully it's still as active as ever. I've spent the last few days reading and watching. I have a few years left until I'm caught up... I've been watching Mike's old videos on the guest section of the group page and I'm wondering if you believe there's any merit to watching this setup (NZD/USD, Daily) for a breakout trade regarding this group's methodology. I understand your particular method for trading breakouts involves a couple of criteria...
Hey Lifz

Welcome to the thread! We are still kicking here

you have noted a very strong box of consolidation that happened in a very very tight range in a small period of time. This is good in the sense that when broken price has a very good chance of flipping from resistance to support(or vice versa with a break to the down side). These area often areas that form those PPZs we speak off


The problem with trying to play this as a breakout type play as you describe(and I like the most) is the size of this pattern and how tight everything occured. It's going to be difficult to find PA at an area like this more times then just looking to potentially flat our buy on a touch of this area after price closes above the bulk of the box.

Also my favorite boxes and patterns more specific are ones that are more accurate and easier to spot in their boundaries that create the pattern. This in my view increases the flexibility in ways to play it

Hope this helps and again welcome!
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 43 KB
  • #126,888
  • Edited 12:46pm Jul 22, 2013 12:00pm | Edited 12:46pm
Hi guys!

aud/usd
I entered at 0.92576. SL right beneath of the BUOVB (my position size less than 0.01 so it is not appears in MT4)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 01.png Size: 67 KB
Click to Enlarge Name: 02.png Size: 112 KB
  • #126,889
  • Jul 22, 2013 12:52pm Jul 22, 2013 12:52pm
Quoting Andersenqwer
Hi guys! aud/usd I entered at 0.92576. SL right beneath of the BUOVB (my position size less than 0.01 so it not appears in MT4)
Hi Andersenyaver.
I'm new to this yet, but what I see.
Price is in the box + small space and price rests boundary box. I think this is not a simple transaction.

Sorry for my English. Google translated.
Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily 22.07.2013.png Size: 18 KB
It's only after we've lost everything that we're free to do anything.
  • #126,890
  • Jul 22, 2013 1:37pm Jul 22, 2013 1:37pm
Quoting Alexandr51
{quote} Hi Andersenyaver. I'm new to this yet, but what I see. Price is in the box + small space and price rests boundary box. I think this is not a simple transaction. Sorry for my English. Google translated. {image}
I agree Alex

The TL could possibly be drawn a few ways due to the gap b/w touches(that's something that I am picky about)

Andersen posted this in his journal in the PF so here was my chart here too
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 42 KB
  • #126,891
  • Jul 22, 2013 1:45pm Jul 22, 2013 1:45pm
Hey Alexander!
Now we have clear broken TL but we have and second pretty clear TL also (not broken yet). Yea, price currently reached top of the BOX but we have nice divergence here...
And I think current market conditions pretty good in order to price has reached first trouble area at least and give me a chance managing me stop depending on market situation.
Of course I'd wanted to see BUOVB a little bit bigger but this is okay in my view...
Sorry for ramble...And for my ugly English also.

UPD: thank you Mike for your help
I'm need to be more picky...
Attached Image (click to enlarge)
Click to Enlarge Name: 01.png Size: 97 KB
  • #126,892
  • Jul 22, 2013 1:49pm Jul 22, 2013 1:49pm
Quoting mbqb11
classic breakout formation {image}
stop reduced on this one
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 32 KB
  • #126,893
  • Jul 22, 2013 4:26pm Jul 22, 2013 4:26pm
Hey Mike,
http://i1243.photobucket.com/albums/...ps8d287181.jpg
http://i1243.photobucket.com/albums/...psfbf79b0a.jpg
  • #126,894
  • Jul 22, 2013 5:28pm Jul 22, 2013 5:28pm
Quoting GiovanniV
Hey Mike, {image} {image}
yep watching this one too G, i'll be watching your blue TL on the daily chart. We are now above that small box you showed so that could be a resistance turned into support but I like to look for trades at the more major area like your Blue TL



Best
Mike
  • #126,895
  • Jul 22, 2013 5:41pm Jul 22, 2013 5:41pm
Hi, does anyone have any links or charts on touch trading as taught in this thread?

Thanks
  • #126,896
  • Jul 22, 2013 8:03pm Jul 22, 2013 8:03pm
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 76 KB
  • #126,897
  • Jul 23, 2013 5:21am Jul 23, 2013 5:21am
Thought I'd share few charts I'm monitoring...

DXY Daily and weekly + EUR/USD daily.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dollar index 23rd july.jpg Size: 103 KB
Click to Enlarge Name: dollar index 23rd july 2.jpg Size: 42 KB
Click to Enlarge Name: eurusd 23rd july.jpg Size: 125 KB
  • #126,898
  • Jul 23, 2013 8:58am Jul 23, 2013 8:58am
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpyh4.png Size: 76 KB
  • #126,899
  • Jul 23, 2013 9:16am Jul 23, 2013 9:16am
Hi everyone!!

I'm kinda new on this thread and i've much to learn....i think this is the right place

I haven't read the whole thread yet ...it's gonna take a long time!!

Anyway Mike, you're great man doing a great job.

These are my first two charts....hope they're not so bad!!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusdh4.png Size: 35 KB
Click to Enlarge Name: gbpaudh4.png Size: 37 KB
  • #126,900
  • Jul 23, 2013 9:46am Jul 23, 2013 9:46am
Quoting aioico
Hi everyone!! I'm kinda new on this thread and i've much to learn....i think this is the right place I haven't read the whole thread yet ...it's gonna take a long time!! Anyway Mike, you're great man doing a great job. These are my first two charts....hope they're not so bad!! {image} {image}
I am not Mike, but if you traded these small pinbars, I would say it wasnt really smart choice....First of all you gotta look for clear swing lows, if you wanna buy...Pinbars should be obvious and bigger, not a good trade IMO, sorry man
22 traders viewing now