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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

  • #128,301
  • Oct 24, 2013 7:04am Oct 24, 2013 7:04am
Quoting stark1
{quote} Nosy question...how did you get in on the BEOB? It didn't retrace on my feed - did you just play it J16 on the break? Currently scrabbling for an entry on this, so hats off to you for getting in!

Yes of couse I entered yesterday on a break ob 4h BEOB. Here the post u have missed.
Quoting Magestic
{quote} I'm in from yesterdays 4h BEOB, we are now at the point of a retrace. If sellers wont come i'll cut it in a loss. {image} {image}
If not up, then down, otherwise sideways :-)
  • #128,302
  • Oct 24, 2013 7:09am Oct 24, 2013 7:09am
Quoting Magestic
{quote} Yes of couse I entered yesterday on a break ob 4h BEOB. Here the post u have missed. {quote}
Cool, thanks.
When the going gets weird, the weird turn pro.
  • #128,303
  • Oct 24, 2013 7:50am Oct 24, 2013 7:50am
Quoting Magestic
{quote} I'm in from yesterdays 4h BEOB, we are now at the point of a retrace. If sellers wont come i'll cut it in a loss. {image} {image}
Hey Majestic you should be happy. Nice trade. Mine is moving nicely now. Will be moving SL shortly.
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  • #128,304
  • Oct 24, 2013 7:53am Oct 24, 2013 7:53am
I also entered this on a 10 pip break of the BUOEB. Had a retrace order in but this has been cancelled now.
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  • #128,305
  • Oct 24, 2013 7:55am Oct 24, 2013 7:55am
Quoting Winston Reed
I also entered this on a 10 pip break of the BUOEB. Had a retrace order in but this has been cancelled now. {image}
Nice trade indeed sir
When the going gets weird, the weird turn pro.
  • #128,306
  • Oct 24, 2013 8:21am Oct 24, 2013 8:21am
Hey Winston,
Is it possible for you to tell me the reasoning behind the EUAUD trade?
I'm asking because price seems to be located exactly at some previous highs and I for one think we might have a fall from the 1.44 level
Glad to hear other oppinions as well!

PS: also, what broker are you using Winston? seems your chart has differences of about 10 pips from mine.

Best regards
  • #128,307
  • Oct 24, 2013 8:41am Oct 24, 2013 8:41am
this thread is my window to the beauty of the world!
thanks to all!
  • #128,308
  • Oct 24, 2013 9:20am Oct 24, 2013 9:20am
Quoting heaven
Hey Winston, Is it possible for you to tell me the reasoning behind the EUAUD trade? I'm asking because price seems to be located exactly at some previous highs and I for one think we might have a fall from the 1.44 level Glad to hear other oppinions as well! PS: also, what broker are you using Winston? seems your chart has differences of about 10 pips from mine. Best regards
Sure Heaven,
There was a beauty of a BUOEB at a swing low. The swing low had a bit of consolidation before this BUOEB broke out. I am playing only by the daily chart so I placed a retrace order and a break of the high order. The break of the high order triggered so I cancelled the retrace order. It's very difficult to take trades and avoid all trouble areas. We just need to be aware of the trouble areas. A powerful PA candle can trump trouble areas. You just need to be careful.
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  • #128,309
  • Oct 24, 2013 9:29am Oct 24, 2013 9:29am
Alot of pairs had similar PA with these bullish/bearish outside bars. This one for me was trading into way too much traffic but even so this one has made progress through some Trouble areas. Some good trading opps and learning opps in several pairs.
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  • #128,310
  • Oct 24, 2013 9:32am Oct 24, 2013 9:32am
Quoting heaven
Hey Winston, Is it possible for you to tell me the reasoning behind the EUAUD trade? I'm asking because price seems to be located exactly at some previous highs and I for one think we might have a fall from the 1.44 level Glad to hear other oppinions as well! PS: also, what broker are you using Winston? seems your chart has differences of about 10 pips from mine. Best regards

FXDD is the broker but I trade live on Oanda.
  • #128,311
  • Oct 24, 2013 10:23am Oct 24, 2013 10:23am
Quoting Winston Reed
I also entered this on a 10 pip break of the BUOEB. Had a retrace order in but this has been cancelled now. {image}
Took a similar setup but as a fake out setup (which is how I trade).

I am normally very hesitant to share much here on this thread about this method as I don't want to steer the direction of the thread off the basic material which is all that the newbies need to be focusing on but for those that have been around a bit, here's some food for thought.

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In case you're wondering, there was no PA bar there. But its not a touch trading method either. I am pretty picky about the actual trigger bar that I take. It needs to clearly take price right back into the swing point (as the trigger bar, the big Bullish bar, was able to do by closing above the trend line as well as the former swing low)

Again if this confuses you please don't hurt your brains. The advanced stuff can always wait while you hone your skills with the basics. IT IS EXTREMELY IMPORTANT TO DRILL DOWN THE BASICS FIRST just as you need to learn to walk first before you can learn to run.

g.
I believe . . .
  • #128,312
  • Oct 24, 2013 10:28am Oct 24, 2013 10:28am
good confluence levels of R montly, daily and BRN
http://i1243.photobucket.com/albums/...ps949cd867.jpg
http://i1243.photobucket.com/albums/...ps1f48036d.jpg
  • #128,313
  • Oct 24, 2013 10:29am Oct 24, 2013 10:29am
Quoting ghous
{quote} Took a similar setup but as a fake out setup (which is how I trade). I am normally very hesitant to share much here on this thread about this method as I don't want to steer the direction of the thread off the basic material which is all that the newbies need to be focusing on but for those that have been around a bit, here's some food for thought. {image} In case you're wondering, there was no PA bar there. But its not a touch trading method either. I am pretty picky about the actual trigger bar that I take. It needs to clearly take price...
Here's another that's on the watch list for me.

Also shows why we always recommend to be extremely careful when shorting PA bars at swing lows and longing them at swing highs. Unless you really know what you're doing you could fall right into the trap being set by the bigger players as part of the bigger story at play.

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g.
I believe . . .
  • #128,314
  • Oct 24, 2013 10:29am Oct 24, 2013 10:29am
Quoting ghous
{quote} Took a similar setup but as a fake out setup (which is how I trade). I am normally very hesitant to share much here on this thread about this method as I don't want to steer the direction of the thread off the basic material which is all that the newbies need to be focusing on but for those that have been around a bit, here's some food for thought. {image} In case you're wondering, there was no PA bar there. But its not a touch trading method either. I am pretty picky about the actual trigger bar that I take. It needs to clearly take price...

Sweet G!
  • #128,315
  • Oct 24, 2013 10:35am Oct 24, 2013 10:35am
my plane AUDCHF
http://i1243.photobucket.com/albums/...ps8b5a3d8d.jpg
http://i1243.photobucket.com/albums/...ps7de2dbf9.jpg
  • #128,316
  • Oct 24, 2013 1:25pm Oct 24, 2013 1:25pm
Hey Ghous,

my watch list fake out CADJPY

http://i1243.photobucket.com/albums/...psb1bbe1f6.jpg
http://i1243.photobucket.com/albums/...ps15229fb1.jpg
  • #128,317
  • Oct 24, 2013 7:16pm Oct 24, 2013 7:16pm
EURGBP daily pinbar. Just wondering here if I'm on track. But this is not one I'd take as it didn't close below any s/r and there is a lot of trouble areas (traffic)just below. I must admit, 6 months ago I would have jumped on this one. In some way this looks like one of Mike's "wick" plays.
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  • #128,318
  • Oct 24, 2013 8:57pm Oct 24, 2013 8:57pm
Quoting Winston Reed
EURGBP daily pinbar. Just wondering here if I'm on track. But this is not one I'd take as it didn't close below any s/r and there is a lot of trouble areas (traffic)just below. I must admit, 6 months ago I would have jumped on this one. In some way this looks like one of Mike's \"wick\" plays. {image}

It actually does have some tiny space to make it to those bar highs there if it breaks. But you're right in that this looks far from tradable as a short trade.

Good stuff being able to realize that Winston

g.
I believe . . .
  • #128,319
  • Oct 25, 2013 1:46am Oct 25, 2013 1:46am
Hello, please if you can explain to me the shortcut PPZs that mean?
my dream Australia.....
  • #128,320
  • Oct 25, 2013 1:53am Oct 25, 2013 1:53am
@darko40

to quote Pinbar as he has it in his signature as a link the terms used in this thread are:

FTA = first trouble area
PPZ = price pivot zone
BEOB = bearish engulfing outside bar
BUEOB = bullish Engulfing outside bar
PB = pin bar
DBLHC = double Bar low higher close
DBHLC = double Bar high lower close
IB = inside bar
Ib4 = inside 4 bar that is the smallest bar of the previous 3 bars
S/R = support/resistance
PA = price action
RN = round number
BRN = big round number
MA = moving average
TL = trend line
BO = breakout
BO + PB = breakout + pullback
RET = retracement
DIV = divergence
CT = counter trend
SL = stop loss
TP = take profit
BE = break even
FTB = First time back ( often used to denote the first time back to an EMA)
RT= retest
WIPG= Where is price going
(This is an exercise designed by J16, in working out where the initial push of any given PA setup is likely to stall at, before it even breaks. In other words the FTA)
WDPG= Where did price go ( This is the conclusion of WIPG)

best regards!
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