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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

  • #131,461
  • Jul 9, 2014 11:41pm Jul 9, 2014 11:41pm
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  • #131,462
  • Jul 10, 2014 1:24am Jul 10, 2014 1:24am
Quoting Neytiri
{image}
Thanks :-). Nice move for AUD during my sleep, but I like 4h even better.
If not up, then down, otherwise sideways :-)
  • #131,463
  • Jul 10, 2014 2:58am Jul 10, 2014 2:58am
Nice trade set up on EURUSD
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  • #131,464
  • Jul 10, 2014 3:13am Jul 10, 2014 3:13am
Quoting ochuko
Nice trade set up on EURUSD {image}
Ochuko, how waffi.
  • #131,465
  • Jul 10, 2014 3:20am Jul 10, 2014 3:20am
Quoting ochuko
Nice trade set up on EURUSD {image}
I will watch the middle of that channel.
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  • #131,466
  • Jul 10, 2014 3:35am Jul 10, 2014 3:35am
Quoting rabzy
{quote} I will watch the middle of that channel. {image}
The middle channel have been compromised severally and so would not pay much interest there.
  • #131,467
  • Jul 10, 2014 3:59am Jul 10, 2014 3:59am
Quoting Magestic
{quote} Thanks :-). Nice move for AUD during my sleep, but I like 4h even better.
.
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  • #131,468
  • Jul 10, 2014 4:49am Jul 10, 2014 4:49am
nice bearish signal bar yesterday to get me on the downtrend on USDILS
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  • #131,469
  • Jul 10, 2014 6:08am Jul 10, 2014 6:08am
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  • #131,470
  • Jul 10, 2014 7:48am Jul 10, 2014 7:48am
Quoting ochuko
Nice trade set up on EURUSD {image}
Hey,

That upper trendline is not really a trendline. It only has 2 points. You would have to have a 3rd touch to confirm that the trendline actually exists. Same with the bottom support level .. just my opinion.

Dan
  • #131,471
  • Jul 10, 2014 8:04am Jul 10, 2014 8:04am
Quoting Neytiri
{image}
.
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  • #131,472
  • Jul 10, 2014 11:02am Jul 10, 2014 11:02am
good to see a bit of FX movement. Still been pretty darn choppy so hope you all are being cautious.

Here is a nice clean pinbar trade I am in. Classic J16 really, triple bar top, nice size and close
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  • #131,473
  • Jul 10, 2014 7:17pm Jul 10, 2014 7:17pm
Looks good Mike.. How many charts do you trade? "AWR" sounds pretty exotic what is it?

Can you please take a look at AUD/CAD daily? A BEOB has formed at a nice resistance level and is about to trigger.. what do you think?

Regards, Moretti
  • #131,474
  • Jul 10, 2014 7:25pm Jul 10, 2014 7:25pm
Quoting moretti12
Looks good Mike.. How many charts do you trade? "AWR" sounds pretty exotic what is it? Can you please take a look at AUD/CAD daily? A BEOB has formed at a nice resistance level and is about to trigger.. what do you think? Regards, Moretti
Hey Moretti

I watch as many things as I can get my hands on. I think thats one of the biggest contributors to my profitability as an individual trader. I get to pick and choose what I want to trade and barriers to entry are very low. So I watch about 80+ FX pairs and the russell 3000. AWR is a stock from the russell 3000. I only watch equities on the weekly chart and scan all 3000 on sunday.

As for the aud/cad I'd be cautious. We are at a very minor swing high which give us very little room to work with. We're trending into a previous resistance area and are in a channel. It doesn't give us much room to work with. Possibly an entry on the close with a tight tight stop looking to retest the current low is possible but I don't think it's the best way to spend hard earned money in the markets

Hope this helps!
Mike
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  • #131,475
  • Jul 10, 2014 7:35pm Jul 10, 2014 7:35pm
Quoting contrails
nice bearish signal bar yesterday to get me on the downtrend on USDILS {image}

I did not take into consideration a black swan event considering what is happening with the middle east and Israel in specific
  • #131,476
  • Jul 11, 2014 2:29am Jul 11, 2014 2:29am
Quoting mbqb11
{quote} So I watch about 80+ FX pairs and the russell 3000. {image}
Hey Mike

Do you have some kinde of spread limit. I mean do you trade pairs like with spreads 8+ points. With some small daily ranges on some pairs lately it seems they are overpriced to trade with.
  • #131,477
  • Jul 11, 2014 5:29am Jul 11, 2014 5:29am
Hi
Sell signal
What do you thing about this ?
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  • #131,478
  • Jul 11, 2014 5:37am Jul 11, 2014 5:37am
Quoting michosz
Hi Sell signal What do you thing about this ? {image}
Pin bar is a reversal bar. This pair is already in a downtrend, if at all, you'd be looking to go long with this pin bar. However, the size of this pin bar is not good enough to reverse such a strong downtrend.

Please don't waste your money by opening trades based on single bars. Look at the whole picture.
  • #131,479
  • Jul 11, 2014 5:41am Jul 11, 2014 5:41am
Quoting EveningStar
{quote} Pin bar is a reversal bar. This pair is already in a downtrend, if at all, you'd be looking to go long with this pin bar. However, the size of this pin bar is not good enough to reverse such a strong downtrend. Please don't waste your money by opening trades based on single bars. Look at the whole picture.
more like inverted pinbar. location is horrible and so is space considering it needs to clear a very strong support level nearby. Look else where
  • #131,480
  • Jul 11, 2014 7:31am Jul 11, 2014 7:31am
Quoting michosz
Hi Sell signal What do you thing about this ? {image}
Hello. That is not a pinbar. It is an inside bar - the bar's entire range is within the previous bar high and bar low. IB's are very tough to play in my opinion.
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