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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

  • #127,141
  • Aug 6, 2013 11:35pm Aug 6, 2013 11:35pm
Quoting giggles
Nice beob formed at swing high. 4 hr chart shows a nice pinbar {image}
You dont want to trade into that traffic. I mean there are just 0 - ZERO clear levels for managing a position. If we enter there its a dead zone. You might get lucky and you get to your TP, or not. That place is just a mass

Cheers,
Stephen
It's all psychology...
  • #127,142
  • Aug 7, 2013 12:55am Aug 7, 2013 12:55am
Closed. +250 Pips. I hope there are several of you that took it as well. Pretty classic PASR trading.

Quoting cvcamper
Sl Moved to break even. {quote}
Dr. C
  • #127,143
  • Aug 7, 2013 1:16am Aug 7, 2013 1:16am
Quoting albus999
{quote} thanks pinbar i think i now know that i should not ignore HCR's or LCS's even when they seem to be far away. mike& pinbar,could this pattern have been in play also. PS: pinbar i sent you a PM concerning another topic would be eagerly awaiting your reply. thanks you guys are great. AL {image}

I would look at it more like this.
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  • #127,144
  • Aug 7, 2013 2:09am Aug 7, 2013 2:09am
Quoting Pinbar
{quote} I would look at it more like this. {image}
thanks pinbar i think i'm now getting it
  • #127,145
  • Aug 7, 2013 2:27am Aug 7, 2013 2:27am
time to buy A/J?
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Don't give up
  • #127,146
  • Aug 7, 2013 5:12am Aug 7, 2013 5:12am
http://i1243.photobucket.com/albums/...ps722e48a3.jpg

Ps Geo ti ho lasciato un messaggio sul forumup
  • #127,147
  • Aug 7, 2013 6:54am Aug 7, 2013 6:54am
Quoting albus999
{quote} hey mike, i'm a little confused about it lacking confluence cos i see a weekly ppz or do i have my ppz wrong?? and what about the round number? thanks a lot in advance. AL {image} {image}
Hey Al

There is some form of a PPZ there, but for me it's also what's the story. Just any bar off a PPZ isn't really enough . If you look at the short term we can see a big BUOB just before this bar. As well as a few previous large bub/buobs. We are also trading back into a stronger PPZ and BRN at 9500.

So that FTA that I marked becomes hugely important. For me that's a pass because lack of story but for others my ting is that FTA you MUST do something. I like it for a quick take profit or quick hitter as I call it.

Hope that helps
Mike
  • #127,148
  • Aug 7, 2013 6:56am Aug 7, 2013 6:56am
Quoting albus999
{quote} these are my thoughts on the setup. Al. {image}

great job, someone asked me about this the other day and my thoughts were similar. Not a lot of space to work with in a very choppy environment. The better thing to watch is for breakouts and PA above 300 BRN here in my view

Mike
  • #127,149
  • Aug 7, 2013 7:32am Aug 7, 2013 7:32am
Why this 2 day BUOB from last Thursday didn't work?

I didn't take the trade because of the FTA which was right at the break of the BUOB but I expected to go up (a falling wedge means price will go up, right?)
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  • #127,150
  • Aug 7, 2013 7:44am Aug 7, 2013 7:44am
Quoting str8
Why this 2 day BUOB from last Thursday didn't work? I didn't take the trade because of the FTA which was right at the break of the BUOB but I expected to go up (a falling wedge means price will go up, right?) {image}

Hey Str8

Here is what I was watching and thinking

First from a daily standpoint the "wedge" is too small. There is something a bit more cumbersome to describe but I talk about it a lot in videos about pattern size vs timeframe. So basically the wedge doesn't make sense in my view to view on the daily as it is too small. It makes more sense to view on the 4hr

So from a daily perspective this is just a choppy mess. Now again it's tougher to describe in words since the wedge still exits but finding good PA on a small pattern doesn't fit logically in my view to being able to manage a trade. Pattern size relative to the timeframe is crucial for me

From the 4hr I was watching the wedge(see chart). We just got no good PA I liked


There was a DBLHC that went to the FTA some took but for me the bar was very far from the breakout area(why continuations trick people) and was late in the day for an intraday trade so I passed

Best
Mike
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  • #127,151
  • Aug 7, 2013 11:35am Aug 7, 2013 11:35am
Quoting benji533
{quote} I have closed this one with +7R profit, after one of the bars closed above the BAT on the 4H chart. Mike, if you don't mind, I have another question You can see on my second chart, that the 4H bar closed above the BAT, but then the next bar shot down again. Now I am trying to learn from it... If I had been placing my stop just above the high off the breaking bar....I would still be in this trade. Do you exit your trades right away when a bar closes above the BAT? or you wait for a break of the high of the breaking bar? What do...
BAT ?
What does the above acronym stand for please?
every Saint has a past. Every Sinner has a Future
  • #127,152
  • Aug 7, 2013 12:35pm Aug 7, 2013 12:35pm
4hr buob breakout. comments welcome.
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  • #127,153
  • Aug 7, 2013 1:04pm Aug 7, 2013 1:04pm
Quoting turnip15
{quote} BAT ? What does the above acronym stand for please?
i think from reading the post it means the red and blue lines on the chart. i could be wrong though.
  • #127,154
  • Aug 7, 2013 1:12pm Aug 7, 2013 1:12pm
Hi Guys,

What are peoples thoughts on this one?

BUEB sitting on the 1.7000 VBRN (although would like it a bit lower?) It's been tested quite a few times, but not since 2010. It's engulfing 2 bars.

Seems to be divergence (not very familiar with this as yet) but if correct adds confluence.

With the recent trend.

Possible buy limit close to the 23.6 fib (sitting right on there perfectly) or at the break of the BUEB for a more conservative approach?
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  • #127,155
  • Aug 7, 2013 1:55pm Aug 7, 2013 1:55pm
Quoting turnip15
{quote} BAT ? What does the above acronym stand for please?
Hi turnip15,
BAT means BAT indicator, here´s link to Mike´s post about this one.
http://www.forexfactory.com/showthre...08#post6772108

Mav
  • #127,156
  • Aug 7, 2013 2:16pm Aug 7, 2013 2:16pm
Quoting giggles
Can a break of this beob be taken as a valid entry? Comments please {image}
HI
Price still does not break the TL.

Darek
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  • #127,157
  • Edited 2:57pm Aug 7, 2013 2:47pm | Edited 2:57pm
Hi guys, what do you think of EUR/JPY?
Daily candle just closed braking through the TL, 130 BRN and PPZ which is both middle of the box and recent LCS. I'm looking for bearish PA or signature at TL or LCS on lower TF, FTA would be the low at the 128 area.
Any comments are welcome
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  • #127,158
  • Aug 7, 2013 3:05pm Aug 7, 2013 3:05pm
Quoting Pinbar
{quote} You can't learn to trade PA on H1, it just does not happen. I am not saying you can't trade PA on H1 or even lower, I am saying you can't learn to trade PA on that time frame. Too much noise and you are not aware of the bigger picture. For a start, was that BUEOB at a swing low, where we want to see bullish PA? Why buy at high price, when you can buy at lower price and sell it for a higher price and visa vie? Do yourself a favor and read Post 1.

Hey Pinbar, been reading your posts for a while since I started reading this thread. I cant remeber seeing you over on the PF ? Anyway just wondering how the trading is going now, are you trading profitably now and found a method that suits you, i noticed you use both j16 and Jarroo methods similar to me.
  • #127,159
  • Aug 7, 2013 4:03pm Aug 7, 2013 4:03pm
Quoting Jjms
Hi Guys, What are peoples thoughts on this one? BUEB sitting on the 1.7000 VBRN (although would like it a bit lower?) It's been tested quite a few times, but not since 2010. It's engulfing 2 bars. Seems to be divergence (not very familiar with this as yet) but if correct adds confluence. With the recent trend. Possible buy limit close to the 23.6 fib (sitting right on there perfectly) or at the break of the BUEB for a more conservative approach? {image}
Hi!
As far as I know this MACD Divergence would weaken our long trade. When price is going up and we see a bearish divergence on MACD that might indicate that price will reserve.
Personally I'm missing a retest of that area we just broke through. (1.6865)
The 1.7 was not tested yet. I would see a "right to the pip" retest at least.

Cheers,
Stephen
It's all psychology...
  • #127,160
  • Aug 7, 2013 4:07pm Aug 7, 2013 4:07pm
Quoting Jjms
Hi Guys, What are peoples thoughts on this one? BUEB sitting on the 1.7000 VBRN (although would like it a bit lower?) It's been tested quite a few times, but not since 2010. It's engulfing 2 bars. Seems to be divergence (not very familiar with this as yet) but if correct adds confluence. With the recent trend. Possible buy limit close to the 23.6 fib (sitting right on there perfectly) or at the break of the BUEB for a more conservative approach? {image}
IMO this one is not a good setup, we want to see BUOB at swing lows, this one is at a swing high. Than the BUOB didn't close above the englufed bar high, I can't see any confluence and also the divergence suggests me to look for a bearish pattern. I'd wait to see what price does and then look for a better setup
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