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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

  • #130,621
  • Edited 5:18pm Apr 19, 2014 4:56pm | Edited 5:18pm
This is gold monthly midpoints.
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and daily outlook
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This is GBP-JPY monthly midpoints.
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and daily outlook
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This is USD-CAD monthly midpoints.
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and daily outlook
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  • #130,622
  • Apr 20, 2014 8:22am Apr 20, 2014 8:22am
What I am watching this week

$AUDCAD http://screencast.com/t/V0yQPpkLSO

$EURCAD http://screencast.com/t/GM5PuCinzjF

$EURUSD http://screencast.com/t/wga0Nzvo6x

$GBPAUD http://screencast.com/t/vTB3zOSgba

$GBPCHF http://screencast.com/t/2J7yL8IG

$GBPUSD http://screencast.com/t/eGPYrNfNfK

$USDCHF http://screencast.com/t/9INJ1tW1g

Have a Good Week Everyone! Make some Pips!
  • #130,623
  • Apr 20, 2014 10:17am Apr 20, 2014 10:17am
hopefully with the holidays over the FX markets will break out more, but until that happens i'll still be focused on where the setups are in the stock market

ADUS is just a beautiful chart. Price broke through a major support area and all in the same week was able to push back above that area. That previous support should once again show. Making just a perfect area to protect our pinbar. Makes for a very low risk situation
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  • #130,624
  • Apr 20, 2014 11:26am Apr 20, 2014 11:26am
Quoting mbqb11
hopefully with the holidays over the FX markets will break out more, but until that happens i'll still be focused on where the setups are in the stock market ADUS is just a beautiful chart. Price broke through a major support area and all in the same week was able to push back above that area. That previous support should once again show. Making just a perfect area to protect our pinbar. Makes for a very low risk situation {image}
nice one. it will be on my watchlist for the upcoming week. thanks
meine augen sind die sterne
  • #130,625
  • Apr 20, 2014 2:48pm Apr 20, 2014 2:48pm
german six2 with a pinbar right at support. strong uptrend. might see 30 euro and above soon.
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meine augen sind die sterne
  • #130,626
  • Apr 20, 2014 2:55pm Apr 20, 2014 2:55pm
german tui1 with a pinbar on weekly. first trouble area at about 13 euro.
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meine augen sind die sterne
  • #130,627
  • Apr 20, 2014 3:19pm Apr 20, 2014 3:19pm
us trmb with strong weekly candle. will look for a rise above 40 usd for entry.
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meine augen sind die sterne
  • #130,628
  • Apr 20, 2014 3:26pm Apr 20, 2014 3:26pm
Quoting P.Action
{quote} dear albus. i draw rectangle from past to later days. lets do it step by step. i did all rectangles as bacgraound as you mentioned. first rectangle coming from begining of chart. as if after days is not there yet. first range we obtain 1.....................}
Hey P, The euro was not in effect before the year 1999. And I see only these historical boxes. Anyway good research.

Al
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  • #130,629
  • Apr 20, 2014 3:28pm Apr 20, 2014 3:28pm
vrtx on weekly. strong support.
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meine augen sind die sterne
  • #130,630
  • Edited 4:56pm Apr 20, 2014 3:56pm | Edited 4:56pm
Quoting albus999
{quote} Hey P, The euro was not in effect before the year 1999. And I see only these historical boxes. Anyway good research. Al {image}
dear albus.

i did nearly all currencies. and i found same result. market looks all box from begining to last. in other words. some traders look recent box some recent months some first months. as result tricky shadows born. anyway i will try this method.
a good example.
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and also look at eur-usd charts.

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  • #130,631
  • Apr 20, 2014 3:59pm Apr 20, 2014 3:59pm
Quoting mbqb11
hopefully with the holidays over the FX markets will break out more, but until that happens i'll still be focused on where the setups are in the stock market ADUS is just a beautiful chart. Price broke through a major support area and all in the same week was able to push back above that area. That previous support should once again show. Making just a perfect area to protect our pinbar. Makes for a very low risk situation {image}
I just checked a few stocks on the weekly chart and found that there are some interesting setups that formed with more space. One of them was the ACAD that formed a Pin Bar on a very Strong Level.

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The other charts were: ATRS, CEMP, CGNX, CHI

What do you think Mike?
  • #130,632
  • Apr 20, 2014 4:21pm Apr 20, 2014 4:21pm
I too, made an attempt at checking the weekly stock-market.
I began with the Nasdaq (full one) and this lasted me for ages, since the ThinkorSwim platform, is unavailable for non-US-citizens (< am I right?)

A lot of motionless bancorps and garbage charts later, I found that the 'moving' stocks are mostly listed on the more compact Nasdaq 100.
Another detail learned I guess.

I haven't gotten to the Russel, or the S&P yet, but will give the stock-journey another go next week.

ADDUS looks beautiful by the way and when compared to the 12 that made my shortlist, this is next level stuff.
Need to get more picky here!!

Shortlist (All NASDAQ):
(ACAD) Pullish PB
(ANIP) Bullish PB
(FXEN) BUOB
(AWAY) BUOB
(VLCCF)Bullish PB
(NEON) Bullish PB
(OREX) Bullish PB
(PSEM) BUOB
(PRIM) Bullish PB
(RENT) Bullish PB
(SINA) BUOB/PB
(TTPH) Bullish PB

^^ These where just the bars that 'stood out' compared to other PA-charts (lot's of bullish pins on biopharma).
I haven't gotten to analysing supp/res. or R:R.
It's a sport, an artform and a science.
  • #130,633
  • Apr 20, 2014 5:26pm Apr 20, 2014 5:26pm
Quoting aserafino
{quote} I just checked a few stocks on the weekly chart and found that there are some interesting setups that formed with more space. One of them was the ACAD that formed a Pin Bar on a very Strong Level. {image} The other charts were: ATRS, CEMP, CGNX, CHI What do you think Mike?
Great job Aser

Acad was the only other chart that made it to my lists with ADUS. Your chart looks great


Best
Mike
  • #130,634
  • Apr 21, 2014 4:38am Apr 21, 2014 4:38am
Quoting mbqb11
{quote} Great job Aser Acad was the only other chart that made it to my lists with ADUS. Your chart looks great Best Mike
Hey Mike, i was looking at some of those setups too. Could you explain why the charts of ATRS and CEMP did not made it to your list?

Thanks, your input is much appreciated
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  • #130,635
  • Apr 21, 2014 5:41am Apr 21, 2014 5:41am
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  • #130,636
  • Apr 21, 2014 6:47am Apr 21, 2014 6:47am
Quoting Sniper887
{quote} Hey Mike, i was looking at some of those setups too. Could you explain why the charts of ATRS and CEMP did not made it to your list? Thanks, your input is much appreciated {image} {image}
Hi Sniper,

I've been watching those stocks as well.
I'd pass both of them, but for different reasons.
CEMP, has a big PB, but not spectacularly much space to work with, thus having a meager R:R, which just isn't worth the risk. in this case.
ARTS, has these lows Mike had in his setup, but these lows are above your Pinbar, creating a strong FTA closeby.

Both setups lack the kind of 'protection' for our SL, that we're looking for in an ideal setup.

W
It's a sport, an artform and a science.
  • #130,637
  • Apr 21, 2014 7:29am Apr 21, 2014 7:29am
Quoting mbqb11
{quote} Hey B Good to see you and thanks for the nice comments I'm glad it is helpful in some way. For me gbp/usd might be considered a very minor break of resistance. For me and funny enough this is something I spoke about in my last webinar(not the one posted). That the way I use terminology like a break of a zone, vs a break of a breakout pattern is VERY different. I do this to be picky so that I understand the situation better(from my style that is). For gbp/usd price never formed a pattern. It just found resistance within the larger consolidation(channel)....
Hi Mike,

Thanks for your response. I was looking at this trade from a totally different perspective from yourself - I had my levels tied up differently and was seeing patterns that weren't there. Applying the box methodology and it suddenly becomes clear that price did exactly what it was supposed to do. Price hadn't just broke free with nothing but blue sky above - instead the top of the box was just beyond ( which you have called a 'minor selling point' ? ). We were nowhere near any major price points that would signify a pending large move. I think... Easy to see these things in retrospect. Anyway, I took 42 pips from the trade, which is better than a kick in the teeth.

Now - what I would hope to see would be for price to break this box, then retrace down to the previous resistance, and hope to see some price action there to trade? Or, for price to react of the rising trend line, after retracing down from it's current point?

Anyway, just back from a nice bank holiday weekend at the beach, with some nice sun, a rarity in UK over bank holidays! looking forward to the markets kicking in again

Cheers.
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,638
  • Apr 21, 2014 7:32am Apr 21, 2014 7:32am
Quoting dan89
{quote} Hey Berserker, I know exactly how you feel. I had to take several breaks from this forum and trading when things were not going so well. The thing I noticed is that every time I did come back I got better. And yes your correct the important thing is your still at it ! Take care Dan
Hi Dan,

Thanks for the encouragement! Great to hear from someone who used to be in my position, and has now got it together. Gives me a real boost

Cheers pal. Trade well!
We are what we repeatedly do. Excellence, then, is not an act, but a habit
  • #130,639
  • Apr 21, 2014 8:38am Apr 21, 2014 8:38am
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  • #130,640
  • Apr 21, 2014 5:26pm Apr 21, 2014 5:26pm
Quoting Sniper887
{quote} Hey Mike, i was looking at some of those setups too. Could you explain why the charts of ATRS and CEMP did not made it to your list? Thanks, your input is much appreciated {image} {image}
Hey Sniper

For me ATRS is too tiny of a pinbar off not a significant enough area to want to get involved. Notice how price has come down hard. I'd want to see a much strong pin to reverse that move. If it does break the high at this point though I think it's got a great shot for your marked area too

As for CEMP it looks pretty good but not enough data on the weekly chart has accumulated on this stock for me yet. This skews the look of the bars for me and I don't like to play stocks that haven't been around that long.


For those curious both adus and acad triggered today. ADUS spike a bit weird right on the open so I didn't get in on the pullback but got in right around the open price on both stocks. Let's see if we can continue to move higher this week

Best
mike
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