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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

  • #127,961
  • Oct 1, 2013 12:59am Oct 1, 2013 12:59am
Quoting LamerTrader
{quote} Hi Immvp! PF stands for Private Forum. Private forum is a better version of this thread for those ones, who wish to get more concentrated material. There is no public noise on the PF, everything is "pre-packed", thus making learning much more efficient. Moreover hundreds of videos help you to understand what the guys are talking about, and the weekly webinars also help you to develop. And yes, it does. IMO it covers even more. Stephen
Thank you Lamertrader, Will start to save some money for the PF
  • #127,962
  • Oct 1, 2013 4:32am Oct 1, 2013 4:32am
Early Short Entry on EURAUD today. This is my first trade this week. Mike i have a question on this trade i took. looking at the BEOB there is arnd 7-8 points variation at the high. considering the strong story attached to the formation of this bar, i had to take the trade. My question is therefore, is it valid to call this kind of bars a BEOB given this number of difference in there high? Also what do you feel i might be omitting. Thanx


Jibson


Attached Image (click to enlarge)
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Still trying to get to meet myself...
  • #127,963
  • Oct 1, 2013 4:55am Oct 1, 2013 4:55am
Quoting jibson007
Early Short Entry on EURAUD today. This is my first trade this week. Mike i have a question on this trade i took. looking at the BEOB there is arnd 7-8 points variation at the high. considering the strong story attached to the formation of this bar, i had to take the trade. My question is therefore, is it valid to call this kind of bars a BEOB given this number of difference in there high? Also what do you feel i might be omitting. Thanx Jibson {image}
Not Mike, but. I think your trade is very good. This is 8h BEOB that you get combining 2 bars. Also if you draw a TL you'll se it was broken with that bar.
I found more confluence at AUD/DDK and took this one. It has already closed with small profit at FTA as I dont feel it will move up hugely.
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If not up, then down, otherwise sideways :-)
  • #127,964
  • Oct 1, 2013 9:52am Oct 1, 2013 9:52am
Quoting Magestic
{quote} Not Mike, but. I think your trade is very good. This is 8h BEOB that you get combining 2 bars. Also if you draw a TL you'll se it was broken with that bar. I found more confluence at AUD/DDK and took this one. It has already closed with small profit at FTA as I dont feel it will move up hugely. {image}
I LOVE that you took profit quick on this M. You are doing great



Mike
  • #127,965
  • Oct 1, 2013 10:07am Oct 1, 2013 10:07am
Quoting jibson007
Early Short Entry on EURAUD today. This is my first trade this week. Mike i have a question on this trade i took. looking at the BEOB there is arnd 7-8 points variation at the high. considering the strong story attached to the formation of this bar, i had to take the trade. My question is therefore, is it valid to call this kind of bars a BEOB given this number of difference in there high? Also what do you feel i might be omitting. Thanx Jibson {image}

Quoting jibson007
Early Short Entry on EURAUD today. This is my first trade this week. Mike i have a question on this trade i took. looking at the BEOB there is arnd 7-8 points variation at the high. considering the strong story attached to the formation of this bar, i had to take the trade. My question is therefore, is it valid to call this kind of bars a BEOB given this number of difference in there high? Also what do you feel i might be omitting. Thanx Jibson {image}

Thanx Magestic. Pls mike i want you to examine the EURAUD trade, would you hold this type of trade with the BUOB formed provided you still believe the entry story is still valid. I have learnt one should learn to take loss even if little if we intend to be successful trader. It is not easy to hold a trade. Pls examine my trade mgmt from the attached chart. Thanx

Jibson

Attached Image (click to enlarge)
Click to Enlarge Name: Qus on EURAUD H4 10-1-2013 9-25-17 AM.jpg Size: 83 KB
Still trying to get to meet myself...
  • #127,966
  • Oct 1, 2013 10:53am Oct 1, 2013 10:53am
Quoting mbqb11
{quote} I LOVE that you took profit quick on this M. You are doing great Mike
Big thank you, Mike. I'm doing good only because you teach so well :-)
If not up, then down, otherwise sideways :-)
  • #127,967
  • Oct 1, 2013 10:58am Oct 1, 2013 10:58am
Hi Mike,

When you trade stocks, where do you look for the PPZs @ round nos.

How do you identify PPZs for stocks priced

1. < 100 (USD/EUR/Any currency)
2. 100 < x < 1000
3. > 1000

Also what timeframe do you recommend for intraday stocks trading

1. 15M
2. 1H

Thanks..
  • #127,968
  • Oct 1, 2013 1:36pm Oct 1, 2013 1:36pm
Hi Guys,

i spotted something,which took my interest. Wanted to share with you. What do you think?
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  • #127,969
  • Oct 1, 2013 3:44pm Oct 1, 2013 3:44pm
Quoting toti1981
Hi Guys, i spotted something,which took my interest. Wanted to share with you. What do you think? {image}
If you are conservative you pass on it.
Look at those FTAs... Especially the first one... And then you have to cut yourself through this choppy sh*t just to get to the second one.
But if you insist to take this trade i would move my SL rapidly and try to get a risk free position.

Stephen
It's all psychology...
  • #127,970
  • Oct 1, 2013 4:26pm Oct 1, 2013 4:26pm
Thanks for the tips, LamerTrader. I am conservative, but still think there is enough confluence.
USDCHF

1. SFP
2. Pin: decent size, bullish, closed above previous candle body
3. Consider the price tested the BRN 0.9000 and close above with pin.
4. Logterm TL respected. It is intersecting the BRN on the wick of the pin.
5. EURUSD showing signs of weakness.

I understand it might not work out, so i will move my SL as soon as FTA is taken.

Cheers

toti

Quoting LamerTrader
{quote} If you are conservative you pass on it. Look at those FTAs... Especially the first one... And then you have to cut yourself through this choppy sh*t just to get to the second one. But if you insist to take this trade i would move my SL rapidly and try to get a risk free position. Stephen
  • #127,971
  • Oct 1, 2013 5:29pm Oct 1, 2013 5:29pm
To be picky i shouldn't take this trade, am i right?

PB looks nice but we have no room since the FTA is too close .
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  • #127,972
  • Oct 1, 2013 6:09pm Oct 1, 2013 6:09pm
looking for a buob
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  • #127,973
  • Oct 1, 2013 8:58pm Oct 1, 2013 8:58pm
Quoting albus999
looking for a buob {image}
looks good Al will be watching the euro around BRN


Gaps are still open
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  • #127,974
  • Oct 1, 2013 9:54pm Oct 1, 2013 9:54pm
Quoting zamfir
Hi Mike, When you trade stocks, where do you look for the PPZs @ round nos. How do you identify PPZs for stocks priced 1. < 100 (USD/EUR/Any currency) 2. 100 < x < 1000 3. > 1000 Also what timeframe do you recommend for intraday stocks trading 1. 15M 2. 1H Thanks..
Hey Z

Round numbers are still important in equities but not like they are in FX. FX is more oscillating as a whole than equities in my view so I mainly identify PPZs just by s/r itself and if their is a good round number use it for additional information.

As for intraday I do not trade intraday with stocks as it can be very tricky with gaps and what not. Most of my equity trades are on weekly/monthly

Hope that helps
Mike
  • #127,975
  • Oct 3, 2013 12:19am Oct 3, 2013 12:19am
Hi Mike!

Still here...

What would you do on the following scenario? Trendline is right above current price. Would you take full profit, partial profit, or...?
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  • #127,976
  • Oct 3, 2013 4:11am Oct 3, 2013 4:11am
Anybody see a nice Daily Pin on the NZDJPY on the Weekly/Monthy PPZ or is it just me ?
  • #127,977
  • Oct 3, 2013 7:50am Oct 3, 2013 7:50am
Quoting nejcb1
Hi Mike! Still here... What would you do on the following scenario? Trendline is right above current price. Would you take full profit, partial profit, or...? {image}
Hi mate, not Mike but thought I would mention that I personally would take profit at a strong trendline, if I decided to trade into a trendline.

This was a pair that I was watching on the Daily a week or so ago and the move to the upside was already complete a while back in my opinion. Price could retrace from the bounce second retest of the trendline where price is now but for me there isnt much to watch on this pair for now. Im not sure if that even answered your question

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Take care
Dan
  • #127,978
  • Oct 3, 2013 8:23am Oct 3, 2013 8:23am
Thanks for opinion Dan. I agree with you, thats why I took full profit at the trendline.

I was watching this pair on the daily also, like you said a week ago... But I saw a quite good BUOB on the 4h, with some space left to the trendline. Then I entered the trade and said to myself "i will take full profit at the trendline", but when price went into the right direction, I wasn't completly sure, that this is the right/best solution...

It is obviously, that take full profit is the most appropriate behaviour in this scenario...

Thanks,
Nejc
  • #127,979
  • Oct 3, 2013 9:01am Oct 3, 2013 9:01am
Quoting nejcb1
Hi Mike! Still here... What would you do on the following scenario? Trendline is right above current price. Would you take full profit, partial profit, or...? {image}
Hey Nej

I like the idea of taking profit quick especially in these types of markets right now that are extra choppy. Tight stops too in my view

Best
Mike
  • #127,980
  • Oct 3, 2013 9:02am Oct 3, 2013 9:02am
Quoting nejcb1
Thanks for opinion Dan. I agree with you, thats why I took full profit at the trendline. I was watching this pair on the daily also, like you said a week ago... But I saw a quite good BUOB on the 4h, with some space left to the trendline. Then I entered the trade and said to myself "i will take full profit at the trendline", but when price went into the right direction, I wasn't completly sure, that this is the right/best solution... It is obviously, that take full profit is the most appropriate behaviour in this scenario... Thanks, Nejc
whoops just saw this
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