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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

  • #127,641
  • Edited 4:41pm Sep 4, 2013 4:20pm | Edited 4:41pm
Quoting jibson007
Mike, Albus999 thanks for the great reply. Yet another one. I attached 4H chart pattern below. i want to know if this is a valid small pattern (rectangle), if yes is there any adjustment that should be made TLs. I placed a buy entry on brk of the BUOB above the 0.7800 and the TL on the 1H chart but it pulled bck on me taking me out before the final BUOB which pushed it all the way. IMO the BOUB is a good size Bar. want you opinion. This is to MIke... What really gives you the sign of moment in the market apart from bar size. Also what is your opinion...
jibson, i think your trendlines and your box looks okay. Anyway this is how i would have played this on 4hr timeframe.

AL
(hindsight trading looks good)
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  • #127,642
  • Sep 4, 2013 5:01pm Sep 4, 2013 5:01pm
Quoting Activer
Is this a good place to watch PA to go long? {image}
Hi! I'm looking at EURCAD too and I'm thinking about where to place my entry.
I would trade it like I usually do placing entry at 10 pips above the high of the pinbar, but there's that 1.3900 level so close and I'm wondering if it would be better to wait for the price to break it; then I would enter at 1.3910
What do you guys think?
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  • #127,643
  • Edited 9:15pm Sep 4, 2013 8:41pm | Edited 9:15pm
Hi! I have been a lurker for 2 years try to learn the James16 teaching and his strategy and of course i love the other contribution as well especially the gurus like Mike, Ghous, Jarroo, Pinbar and others, it has helped me to open my eyes and see things better on the chart, and here is my first post of chart and i need some opinions of how to trade this or it is tradable?

i'm looking at the platinum future where the price has break the daily TL with a big bearish bar and i think it hit the first FTA on the first blue line and i wonder whether i still have momentum to go to my target at the second blue line, and there is bearish divergence on the MACD as well. my plan is to wait for retracement somewhere around 1505 ~ 1510 and place a short order, then my SL will be at the top of the bar?

So i wonder how you guys will play this? wait for retracement to the TL or just ignore this? any comments and opinions are welcome

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fyh
  • #127,644
  • Sep 5, 2013 2:33am Sep 5, 2013 2:33am
a trade i'm still in with a one bar trail.
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  • #127,645
  • Edited 3:41am Sep 5, 2013 2:50am | Edited 3:41am
My view is if you don't know your levels then you don't know where to enter, exit, move stops or manage your trade in general.

Jarroo (thanks Jarroo ) style trade on the EURUSD, break out of consolidation on daily and then 3 dailies can't close above the level. If I get a close above on daily then im out, but I won't be moving to BE or taking partial profit. Final target is 1.3105
Attached Image (click to enlarge)
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  • #127,646
  • Sep 5, 2013 3:43am Sep 5, 2013 3:43am
Quoting fyihhaur
Hi! I have been a lurker for 2 years try to learn the James16 teaching and his strategy and of course i love the other contribution as well especially the gurus like Mike, Ghous, Jarroo, Pinbar and others, it has helped me to open my eyes and see things better on the chart, and here is my first post of chart and i need some opinions of how to trade this or it is tradable? i'm looking at the platinum future where the price has break the daily TL with a big bearish bar and i think it hit the first FTA on the first blue line and i wonder whether i...
i agree with bullet on that you've got to know your levels in order to know where your entry exit and trade management will be like. Al the same i wont enter just because of a big bearish bar closes below a trendline and a RN. Entry must be with a PA setup as taught here in this thread and i don't see any one on the chart yet. This is how i would trade trendline breaks; no entry untill a PA setup appears in this case a BUOB.

AL
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  • #127,647
  • Sep 5, 2013 3:57am Sep 5, 2013 3:57am
Quoting albus999
{quote} i agree with bullet on that you've got to know your levels in order to know where your entry exit and trade management will be like. Al the same i wont enter just because of a big bearish bar closes below a trendline and a RN. Entry must be with a PA setup as taught here in this thread and i don't see any one on the chart yet. This is how i would trade trendline breaks; no entry untill a PA setup appears in this case a BUOB. AL {image}
Hi albus,

I just wanted to clarify I was talking in general about levels not in reply fyihaur's or anyone else's posts.

I agree with you we need to see price action which could mean a pin/out side bar or a close below/above a level, or some price movement that confirms our suspicions.
  • #127,648
  • Sep 5, 2013 9:59am Sep 5, 2013 9:59am
Quoting Bullet
My view is if you don't know your levels then you don't know where to enter, exit, move stops or manage your trade in general. Jarroo (thanks Jarroo ) style trade on the EURUSD, break out of consolidation on daily and then 3 dailies can't close above the level. If I get a close above on daily then im out, but I won't be moving to BE or taking partial profit. Final target is 1.3105 {image}

I closed this one for 1%+ 84 pips as it was a FTB to the 365MA, the level held beautfully after price retraced back then BAM down to the 365.
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  • #127,649
  • Sep 5, 2013 3:05pm Sep 5, 2013 3:05pm
Hey Mike

I was looking at your chart

http://www.forexfactory.com/attachme...4&d=1377617842

I was thinking isn't that a large amount of space with no touches on the bottom trendline in relation to the size of the pattern?

Thanks for your help.
  • #127,650
  • Sep 5, 2013 3:45pm Sep 5, 2013 3:45pm
One more sqeeze pattern on dayly, I took from h4 perspective. Lets see if it works?
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If not up, then down, otherwise sideways :-)
  • #127,651
  • Sep 5, 2013 7:51pm Sep 5, 2013 7:51pm
hi fyihhaur,

just wanted to know if it is ok for u to share the RN indicator please...it looks quite neat and is very helpful when looking for S&R.
would be very much appreciated.

Regards

Dennis
  • #127,652
  • Sep 5, 2013 8:05pm Sep 5, 2013 8:05pm
Quoting dennis4u15
hi fyihhaur, just wanted to know if it is ok for u to share the RN indicator please...it looks quite neat and is very helpful when looking for S&R. would be very much appreciated. Regards Dennis
Sure, here is the indicator, remember to adjust the shiftline to suit your display

fyh
Attached File(s)
File Type: ex4 SweetSpotsGold.ex4   5 KB | 315 downloads
File Type: mq4 SweetSpotsGold.mq4   4 KB | 380 downloads
  • #127,653
  • Sep 5, 2013 9:35pm Sep 5, 2013 9:35pm
Quoting jibson007
Mike, Albus999 thanks for the great reply. Yet another one. I attached 4H chart pattern below. i want to know if this is a valid small pattern (rectangle), if yes is there any adjustment that should be made TLs. I placed a buy entry on brk of the BUOB above the 0.7800 and the TL on the 1H chart but it pulled bck on me taking me out before the final BUOB which pushed it all the way. IMO the BOUB is a good size Bar. want you opinion. This is to MIke... What really gives you the sign of moment in the market apart from bar size. Also what is your opinion...
Hey J

The thing to watch here is notice price just chops around your breakout area and pretty much invalidates the pattern. So finding a buob later on to me isn't valid anymore because at that point price is just in a box. You want your breakout patterns to be respected.

I really dont pay attention to news. Some big news when the markets are very on edge i'll be aware of. For example when the markets are in turmoil things like interest rate announcements can be game changers. But from a day to day news is pretty meaningless to me. I get hate emails when I say that where people will literally say you can't trade without fundamentals. It's simply not true. Information is built into the chart in a way that we can use just that. Doesn't mean don't explore fundamentals IF and ONLY if it adds value to your trading. Too many novice traders think that you have to to be a "trader". The truth is their is no one way to be a trader.

So as far as recommendations on fundamentals I can't recommend anything good cause I don't know anything LOL

Hope that helps!
Mike
  • #127,654
  • Sep 5, 2013 9:44pm Sep 5, 2013 9:44pm
Quoting LamerTrader
{quote} Maybe this orderflow stuff is getting around my head but still - this trade seems amazing. You enter right where the peoples stops would be (stops from the trend line, and stops from the breakout of the high) Giand bullish candle with a long wick indicating that there were people sitting on the wrong side of the fence... Amazing
Glad it helps
  • #127,655
  • Sep 5, 2013 9:46pm Sep 5, 2013 9:46pm
Quoting gianmarco
{quote} Hi! I'm looking at EURCAD too and I'm thinking about where to place my entry. I would trade it like I usually do placing entry at 10 pips above the high of the pinbar, but there's that 1.3900 level so close and I'm wondering if it would be better to wait for the price to break it; then I would enter at 1.3910 What do you guys think? {image}
Hey G

Here was what I wrote about this one yesterday in the PF

----------------------------------------------------------------------

In this case it is a pinbar, but not the biggest bar. So for me price looks more just like it bounced at an important TL, but not convincingly. FTA is close as you showed so this becomes a trickier bar to trade.

These in my view need to break hard or you can get stuck in a lot of drawdown and more just need to hope the area holds.
  • #127,656
  • Sep 5, 2013 10:00pm Sep 5, 2013 10:00pm
Quoting fyihhaur
Hi! I have been a lurker for 2 years try to learn the James16 teaching and his strategy and of course i love the other contribution as well especially the gurus like Mike, Ghous, Jarroo, Pinbar and others, it has helped me to open my eyes and see things better on the chart, and here is my first post of chart and i need some opinions of how to trade this or it is tradable? i'm looking at the platinum future where the price has break the daily TL with a big bearish bar and i think it hit the first FTA on the first blue line and i wonder whether i...
Hey Fyihhaur

Glad to see you come out of lurking nice first chart

If I were to play it a simple sell below the low of the DBHLC makes the most sense to me. THen we look for the TL to hold(as it did) and use that level to manage our stop.

I'd say we have a good shot to the major area below. I wish the TL had a bit more confluence to it but overall good structure and a nice low risk trade as well

Nice job
Mike
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  • #127,657
  • Sep 5, 2013 10:02pm Sep 5, 2013 10:02pm
Quoting albus999
a trade i'm still in with a one bar trail. {image}
wow monster trade
  • #127,658
  • Sep 5, 2013 10:03pm Sep 5, 2013 10:03pm
hi fyihhaur,

thanks for the indicator...just wanted to know why it disappears after a few seconds...i mean it is not on display on the chart for too long

Please do advice

Regards

Dennis
  • #127,659
  • Sep 5, 2013 10:05pm Sep 5, 2013 10:05pm
Quoting hunzul
Hey Mike I was looking at your chart http://www.forexfactory.com/attachme...4&d=1377617842 I was thinking isn't that a large amount of space with no touches on the bottom trendline in relation to the size of the pattern? Thanks for your help.
Hey Hunzul

If you notice I spoke how the top descending TL is by far my favorite(Dan liked that rising one but I explained the top is better because of the massive amount of touches). So yes you are correct. If we were to use that bottom one I would want to see price stall at that TL again to confirm it up.

Hope that helps
Mike
  • #127,660
  • Sep 6, 2013 12:15am Sep 6, 2013 12:15am
Quoting mbqb11
{quote} Hey Fyihhaur Glad to see you come out of lurking nice first chart If I were to play it a simple sell below the low of the DBHLC makes the most sense to me. THen we look for the TL to hold(as it did) and use that level to manage our stop. I'd say we have a good shot to the major area below. I wish the TL had a bit more confluence to it but overall good structure and a nice low risk trade as well Nice job Mike {image}
Hey Mike,

Thanks for the info, really looking forward to trade this but not sure how to play when the first bar break the TL cause the SL is just too big for me, but after your post i can see how i can play this kind of trade in the future, got to nail it next time...thanks again...

fyh
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