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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

  • #130,141
  • Mar 3, 2014 3:23am Mar 3, 2014 3:23am
Hi, is anyone aware of the post which would have consolidated information on breakouts and how to approach them and include them into a story?
  • #130,142
  • Mar 3, 2014 4:10am Mar 3, 2014 4:10am
Quoting Tail Gunner
{quote} If you are referring to just the bars themselves, numbers 1, 2, and 4 are legitimate PBs, but number 3 is not because the open and close did not occur in the lower third of the bar. Just because numbers 1, 2, and 4 are PBs does not necessarily mean that you should trade them, however.
can you tell me which one of them you consider to trade and why? thanks
  • #130,143
  • Mar 3, 2014 8:09am Mar 3, 2014 8:09am
Quoting bee24
Hi, is anyone aware of the post which would have consolidated information on breakouts and how to approach them and include them into a story?
Hey bee,

Since breakout trading is such a pertinent leg of price dynamics that we follow here, there are literally countless gem-posts sprinkled all over this huge thread with valuable information regarding breakouts.

A good idea would be to search the more senior members' posts active here on this thread with the keyword "breakout". You should come with material that could easily keep you engrossed for hours if not more.

Here's an example:

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I know it doesn't sound too organized but really pointing to any single post is being unfair to countless other gems I know will surely help you.

g.
I believe . . .
  • #130,144
  • Mar 4, 2014 1:38am Mar 4, 2014 1:38am
Quoting hginvestor
Hi guys, FX is going to start in next 2 hours, it is time to prepare a plan.. I see two potential entry, 1) What do you thing about pinbar on NZDUSD - D1? NZDUSD are bouncing between those levels for a few weeks from now. {image} 2) USDJPY on D1 we are on up trendline, but the last bearish candle has big body. The good thing is a bottom wick - it means that the price might want to go up. So we have two options, a) if we break current support, potential target is next support are at 100 pips below. b) if next candle will be bullish, we might look...
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Best,
Jonas
Hero calls followed by margin calls...
  • #130,145
  • Mar 4, 2014 1:44am Mar 4, 2014 1:44am
Quoting Berserker
Here is one of my losers from last month - EURAUD. I entered on break of the pin two days after placing trade. Stopped out that day, as I only had my stop on the 61% retracement of the bar {image} Looking at this now, I would think the following: There wasn't much of a swing into the pin This pin appeared in a sideways market There was a lot of traffic below If I had set my stop properly, I would be in profit ( although down to luck more than anything... ) I was selling against the trend Any other thoughts are welcome!
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Best,
Jonas
Hero calls followed by margin calls...
  • #130,146
  • Mar 4, 2014 1:48am Mar 4, 2014 1:48am
If s.o. thinks about trading German DAX

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Best,
Jonas
Hero calls followed by margin calls...
  • #130,147
  • Mar 4, 2014 3:52am Mar 4, 2014 3:52am
Quoting PhAnTi'
{quote} {image} Best, Jonas
Thanks I'm happy to pay the price of trading - good to have confirmation from a senior member that this trade wasn't a wild shot in the dark.

And in other news - I'm still bullish on cable, but Putin has killed my stop, gah!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,148
  • Mar 4, 2014 7:57am Mar 4, 2014 7:57am
I am watching this.

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  • #130,149
  • Mar 4, 2014 9:46am Mar 4, 2014 9:46am
EURCHF testing old lows

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Hero calls followed by margin calls...
  • #130,150
  • Mar 4, 2014 4:39pm Mar 4, 2014 4:39pm
Quoting dmc
I am watching this. {image}
Im in long position .. what you expect?
Investing is SIMPLE but NOT EASY
  • #130,151
  • Mar 4, 2014 5:07pm Mar 4, 2014 5:07pm
Not so much expecting anything but if we were to see a scenario where we get a big BEOB closing below the round number and my trend line. There could be a potential for a short. It all depends on how it sets up though. We could continue to bounce on that trend line and keep moving forward as well. Just something that is on the radar for a potential trade.
  • #130,152
  • Mar 4, 2014 5:28pm Mar 4, 2014 5:28pm
Quoting dmc
Not so much expecting anything but if we were to see a scenario where we get a big BEOB closing below the round number and my trend line. There could be a potential for a short. It all depends on how it sets up though. We could continue to bounce on that trend line and keep moving forward as well. Just something that is on the radar for a potential trade.
gbp/cad also currently has divergence indicated on the MACD (on the daily TF), which could indicate potential near-term bearish PA.
Forex is for the lifestyle.
  • #130,153
  • Mar 5, 2014 12:50am Mar 5, 2014 12:50am
Quoting dmc
Not so much expecting anything but if we were to see a scenario where we get a big BEOB closing below the round number and my trend line. There could be a potential for a short. It all depends on how it sets up though. We could continue to bounce on that trend line and keep moving forward as well. Just something that is on the radar for a potential trade.

a chart would've been great :-P
Hero calls followed by margin calls...
  • #130,154
  • Mar 5, 2014 1:23am Mar 5, 2014 1:23am
Quoting PhAnTi'
{quote} a chart would've been great :-P
PhAnTi, dmc has already given a chart before your last chart post on EURCHF.
  • #130,155
  • Mar 5, 2014 11:20am Mar 5, 2014 11:20am
watching the GBPJPY on the 1hr today and its been interesting to see the way it reacts to the divergence first then the breakout the a retest followed by a retest of the trendline. The midpoint being around the 170RN on the 4hr along with its own divergence as mike always says it forms a low then pulls back, then another low then pulls back ,then a third low then pulls back again with a small divergence on 1hr. The more I stand back the more I see the importance of the STORY or the bigger picture as others say.
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  • #130,156
  • Mar 6, 2014 2:38pm Mar 6, 2014 2:38pm
Quoting mbqb11
{quote} continuing to hold Kellogg's but this is a major trouble area. I like to see how we react here {image}
im now at breakeven

i plead with those of you still banging your head against the desk month after month taking 50 trades a month and struggling. Take a few great setups a month and your way ahead of the game
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  • #130,157
  • Mar 6, 2014 7:49pm Mar 6, 2014 7:49pm
Quoting mbqb11
{quote} im now at breakeven i plead with those of you still banging your head against the desk month after month taking 50 trades a month and struggling. Take a few great setups a month and your way ahead of the game {image}
You are so right! What a great point. You are good for sharing your knowledge with people, thanks for everything, I hope you continue to be part of J16 for a long time.
This group is the real deal.
  • #130,158
  • Mar 7, 2014 1:31am Mar 7, 2014 1:31am
Wow that is a beautiful setup
  • #130,159
  • Mar 7, 2014 1:44am Mar 7, 2014 1:44am
EURAUD - Anyone is looking for that pin on D1?

Pros:
Trend up + trendline
nice Pinbar
good area
outsidebar on H4

What is your opinion on this?

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Cheers,
HG
  • #130,160
  • Mar 7, 2014 3:20am Mar 7, 2014 3:20am
I saw this long pin bar with a bounce off 1.62 level. I know the overall trend is down but price has always seemed to stall and reverse around this level. My only reservation is the NFP due today which could move the trade either way, however ignoring the announcement, would anyone find this setup interesting?
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