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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

  • #131,241
  • Jun 16, 2014 1:24am Jun 16, 2014 1:24am
Bearish reversal at key level
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Whether you can or you can't, you are both right.
  • #131,242
  • Jun 16, 2014 1:36am Jun 16, 2014 1:36am
Quoting fartist
Bearish reversal at key level {image}

i actually took a flyer on the upside. as you can see on my daily chart. the long bearish bar is worrisome but I thought what the heck. Hopefully Tuesday brings good news
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  • #131,243
  • Jun 16, 2014 1:56am Jun 16, 2014 1:56am
looks like NZD is at an inflection point today, i took a shot selling another strong GPB currency setup: off a breakout PB and bounce off downward TL

con: too close to uptrend TL and oh a round number 1.9500 OPS, this trade is going to be aggressive
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  • #131,244
  • Jun 16, 2014 2:00am Jun 16, 2014 2:00am
Quoting mbqb11
i'm looking to play the continuation buob to the BRN and previous swing high. I like the risk mgmt ability the breakout area affords me. Stop reduced upon breakout to under the breakout area(current consolidation) i'll still watch the breakout area though if triggered as we don't want it to come back far on it {image}
There we can see that our Take profit = or less our Stop Loss, maybe is not good for trade. Look at my picture.
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  • #131,245
  • Jun 16, 2014 2:34am Jun 16, 2014 2:34am
USD JPY
Not good, but we can see one long entry, commentaries on the picture below:
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  • #131,246
  • Jun 16, 2014 2:41am Jun 16, 2014 2:41am
AUD USD
Possible short position
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  • #131,247
  • Jun 16, 2014 2:48am Jun 16, 2014 2:48am
EURAUD
Possible long position.
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  • #131,248
  • Jun 16, 2014 2:49am Jun 16, 2014 2:49am
Quoting Alehandro
USD JPY Not good, but we can see one long entry, commentaries on the picture below: {image}
Hello Alehandro,
Only that you are already in the middle between lines you have on the chart.
Regards.
  • #131,249
  • Jun 16, 2014 2:57am Jun 16, 2014 2:57am
NZD USD
Possible short position.
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  • #131,250
  • Jun 16, 2014 3:02am Jun 16, 2014 3:02am
Quoting Alehandro
NZD USD Possible short position. {image}

you dare trade against mbqb11 ???

http://www.forexfactory.com/showthre...67#post7537667
  • #131,251
  • Jun 16, 2014 3:06am Jun 16, 2014 3:06am
Quoting vanilla.sky
{quote} Hello Alehandro, Only that you are already in the middle between lines you have on the chart. Regards.
Hello

For the best P/L ration we should open our position like in our picture below, when the proce firstly will take the price at over 102.18 and then hit our buy limit order at 101.75 (with SL 101.42 and TP 102.64)
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  • #131,252
  • Jun 16, 2014 3:10am Jun 16, 2014 3:10am
Quoting contrails
{quote} you dare trade against mbqb11 ??? http://www.forexfactory.com/showthre...67#post7537667
I don't want be in a long position, because Profit/Loss ration is not good for me, I think the best variant is short position to use.
  • #131,253
  • Jun 16, 2014 3:15am Jun 16, 2014 3:15am
Quoting Alehandro
{quote} I don't want be in a long position, because Profit/Loss ration is not good for me, I think the best variant is short position to use.

look at NZD/JPY it is setting up a short as well, probably more volatility too vs kiwi
  • #131,254
  • Jun 16, 2014 3:21am Jun 16, 2014 3:21am
Quoting contrails
{quote} look at NZD/JPY it is setting up a short as well, probably more volatility too vs kiwi
In NZDJPY chart we can see three support levels at:
-87.86
-87.60
-87.37
I don't see there the best entries only for short (IMO).
  • #131,255
  • Jun 16, 2014 8:11am Jun 16, 2014 8:11am
NZDJPY is in bullish trend...yes..the momentum is slowing down but still in strong bullish tren and we clearly see how the old box is acting as support for the next one !
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Nothing personal,just business
  • #131,256
  • Jun 16, 2014 5:04pm Jun 16, 2014 5:04pm
Enjoying everyones opinions on their respective pairs. I of course only share my experience and thoughts so those that are contrarian to me that's great to see you stick with your convictions it's how you get better and trust yourself. The key to trading is to put yourself in a great position with a great entry that allows a high probability opportunity but also allows one to logical manage that trade

here's one spotted by a member of the group(damien all credit to you) but it's a great chart to watch


Major PPZ at the BRN of 9.0

Notice the boxing effect of price. While this is a choppier pair it certainly has potential. The confluence of the rising TL , BRN , plus PPZ/boxing offers a great area to watch. I always prefer to trade away from these areas but they do offer opportunity both long and short. A nice PA bar closing under this area would be ideal for me
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  • #131,257
  • Jun 17, 2014 1:24am Jun 17, 2014 1:24am
Hi,
I am trying for now to trade only good setups as I still overtrade... Even on daily I have this ability or gift to find at least 3 trades per day... No motivation speech can help me. So will be doing only basic J16 requirements for the moment and not giving up. So I would appreciate any support from during this yet another attempt as I need confidence I am on the right way.
I spot this yesterday and I was thinking if this is A setup and decided that it is not cause it is not major PPZ and the pin has body more in the middle then lower 1/3 of the candle - this was actually major reason.
Please let me know your comments on this.
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  • #131,258
  • Jun 17, 2014 2:19am Jun 17, 2014 2:19am
Quoting vanilla.sky
Hi, I am trying for now to trade only good setups as I still overtrade... Even on daily I have this ability or gift to find at least 3 trades per day... No motivation speech can help me. So will be doing only basic J16 requirements for the moment and not giving up. So I would appreciate any support from during this yet another attempt as I need confidence I am on the right way. I spot this yesterday and I was thinking if this is A setup and decided that it is not cause it is not major PPZ and the pin has body more in the middle then lower 1/3...
Agreed. I exited a long. Thought of going short on that pin. And then reminded myself that there is not much room to run plus that the pin closed over Support (at least the wayI charted it).

PS I have the same 'problem' in easily spotting opportunities but not the risks. Being positive about it, I think it shows creativity Putting on a risk manager hat is the missing element. Force yourself to see both sides of the coin
  • #131,259
  • Jun 17, 2014 2:21am Jun 17, 2014 2:21am
Quoting vanilla.sky
Hi, I am trying for now to trade only good setups as I still overtrade... Even on daily I have this ability or gift to find at least 3 trades per day... No motivation speech can help me. So will be doing only basic J16 requirements for the moment and not giving up. So I would appreciate any support from during this yet another attempt as I need confidence I am on the right way. I spot this yesterday and I was thinking if this is A setup and decided that it is not cause it is not major PPZ and the pin has body more in the middle then lower 1/3...
1-Profit/Loss ratio is not good, 2-very little shadow on the pin-bar. I don't think so, that it will be a good short position.
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  • #131,260
  • Jun 17, 2014 3:03am Jun 17, 2014 3:03am
Hello Dog an Alehandro,
Thanks for your comments as it is really helpful for me.
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