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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

  • #132,521
  • Oct 6, 2014 3:28pm Oct 6, 2014 3:28pm
Quoting vanilla.sky
Hi. Loss today. I tried to trade breakout from middle of nowhere. I entered on break of two lows shown on picture. I think I am getting lost again... {image}
Hey VS

The major issue here is you are trading in the midpoint of a very tight box trying to play a break of just two bar lows. That's a very difficult thing to do with consistency in such a tight environment. Wait till price gets to the tops/bottoms of these boxs, especially when we get outside them. But try sticking to clear PA bars like pins/outside etc. If you are going to play multi bar highs/lows you want them out in space and you really want multiple ones that establish and create nice swing points so that orderflow has time to build on them.


Best
Mike
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  • #132,522
  • Oct 7, 2014 1:31am Oct 7, 2014 1:31am
Quoting mbqb11
{quote} Hey VS The major issue here is you are trading in the midpoint of a very tight box trying to play a break of just two bar lows. That's a very difficult thing to do with consistency in such a tight environment. Wait till price gets to the tops/bottoms of these boxs, especially when we get outside them. But try sticking to clear PA bars like pins/outside etc. If you are going to play multi bar highs/lows you want them out in space and you really want multiple ones that establish and create nice swing points so that orderflow has time to build...
Thanks Mike for your answer and time.
  • #132,523
  • Oct 7, 2014 3:03am Oct 7, 2014 3:03am
Hi guys,

Trying to find the thread about bearish or bullish outside bar information? Anyone has the thread link?

http://www.forexfactory.com/showthre...99#post2585699

I did try the above link, maybe I miss out something or some short form about bearish/bullish outside bar Im not sure about?

Thanks so much for your help
  • #132,524
  • Oct 7, 2014 3:14am Oct 7, 2014 3:14am
Thanks Mike for the clarification.
What are your thoughts on AUDJPY daily? I spot 3 factors which hint to a move towards north:
1- Trendline acting as resistance
2- MA365 which matches the trendline
3- MACD hidden bullish divergence
Still missing a convincing entry point though. Would you wait for the price to touch the trendline just like two previous up-turns?
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  • #132,525
  • Oct 7, 2014 3:28am Oct 7, 2014 3:28am
Quoting Verbal
Thanks Mike for the clarification. What are your thoughts on AUDJPY daily? I spot 3 factors which hint to a move towards north: 1- Trendline acting as resistance 2- MA365 which matches the trendline 3- MACD hidden bullish divergence Still missing a convincing entry point though. Would you wait for the price to touch the trendline just like two previous up-turns? {image}
It was already spoken about. There is a strong resistance just above the price.

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  • #132,526
  • Oct 7, 2014 4:37am Oct 7, 2014 4:37am
Any senior here can help me here? How or will you sell the breakdown? Will you wait for today closes to see whether it breakdown? Or maybe not enough to trigger it?

Thanks a lot!
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  • #132,527
  • Edited 6:18am Oct 7, 2014 4:52am | Edited 6:18am
Quoting keziahpie
Any senior here can help me here? How or will you sell the breakdown? Will you wait for today closes to see whether it breakdown? Or maybe not enough to trigger it? Thanks a lot! {image}
Well I'm not a senior but I would place a support line here.

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If it closes below that I would go short. But for now it kind of looks like retest of former resistance and can go up.
  • #132,528
  • Edited 5:21am Oct 7, 2014 4:59am | Edited 5:21am
GBPNZD, confluence of two pinbars, one on D1 and another on W1:

W1 pinbar on strong resistance:

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D1 pinbar on 38.2 Fibonacci.

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Similar thing is on EURNZD but from trendline.
  • #132,529
  • Oct 7, 2014 6:10am Oct 7, 2014 6:10am
Hy guys what do you think about CISCO SYSTEMS?

https://charts.mql5.com/5/882/csco-d...rkets-as-3.png
  • #132,530
  • Oct 7, 2014 7:34am Oct 7, 2014 7:34am
CADJPY head and shoulders formation with strong bearish candle.

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  • #132,531
  • Oct 7, 2014 7:46am Oct 7, 2014 7:46am
Quoting Eur Usd
{quote} what signal is it?
Sorry, I didn't see your post, I had problems with internet. There was a pinbar on resistance.

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Btw it seems like there is dbhlc forming for ~70 pips.
  • #132,532
  • Oct 7, 2014 8:56am Oct 7, 2014 8:56am
AUDUSD - Can we get a runner. BE for now..

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  • #132,533
  • Oct 7, 2014 9:03am Oct 7, 2014 9:03am
Quoting keziahpie
Hi guys, Trying to find the thread about bearish or bullish outside bar information? Anyone has the thread link? http://www.forexfactory.com/showthre...99#post2585699 I did try the above link, maybe I miss out something or some short form about bearish/bullish outside bar Im not sure about? Thanks so much for your help
Hey K

I know you just joined the private group so i'll send you some info over there to your PM box

Best
Mike
  • #132,534
  • Oct 7, 2014 9:09am Oct 7, 2014 9:09am
Quoting mbqb11
{quote} Hey V Thanks for the nice words glad it has helped. Divergence is simply a tool we want to use to give us a POSSIBLE heads up on a change in direction. We want to couple that with more informatin(confluence) when actually taking a trade. So for example both the usd/cad and the chfsgd show clear divergence. The usd/cad materialized into an actual trade(with more information being the breakout pattern itself(the wedge) and the BUOB being the tip off for entry. The chf/sgd on the other hand has the divergence, and a nice possible TL to look...
just wanted to update one of the charts here on the cad/chf. Notice V how price retreated at the divegence point + TL point.

My favorite area is watching for a breakout of these areas though with price action
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  • #132,535
  • Oct 7, 2014 9:11am Oct 7, 2014 9:11am
Quoting mbqb11
{quote} Hey Z I'd be cautious on some of these. Many are weaker closing pins off minor areas trading into some major areas. I'll use mini dow as an example. The weekly shows the stronger area even closer but I used the daily {image}
updated chart, pinbar worked out well but did stall where we though and turned. I took an aggressive touch trade at this area, as well as my first one did get stopped out for a small loss. I still believe the rising TL offers the most logical turning point or area for the market to want to test.
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  • #132,536
  • Oct 7, 2014 9:12am Oct 7, 2014 9:12am
Quoting mbqb11
{quote} Hey K I know you just joined the private group so i'll send you some info over there to your PM box Best Mike
Thanks!

I regretted not joining this earlier, like seriously.

Thanks
  • #132,537
  • Oct 7, 2014 10:40am Oct 7, 2014 10:40am
Quoting zamfir
AUDUSD - Can we get a runner. BE for now.. {image}
Hello zamfir,
Very impressive. It would help me and I think also few others if you could drop some notes on your charts.
Thanks.
  • #132,538
  • Oct 7, 2014 10:48am Oct 7, 2014 10:48am
Quoting vanilla.sky
{quote} Hello zamfir, Very impressive. It would help me and I think also few others if you could drop some notes on your charts. Thanks.
I would , but then you will not learn.
  • #132,539
  • Oct 7, 2014 11:09am Oct 7, 2014 11:09am
Quoting zamfir
{quote} I would , but then you will not learn.
I have seen also others were asking you same. It is what you always could find on this thread. But hey, it is up to you.
  • #132,540
  • Oct 7, 2014 11:27am Oct 7, 2014 11:27am
Quoting vanilla.sky
{quote} I have seen also others were asking you same. It is what you always could find on this thread. But hey, it is up to you.
My charts are for more intermediate and advanced traders.

Apologies to newbies, you should not be trading like I do when beginning.

Now for the more advanced practitioners of PA. you can see clearly the reasons. Its not rocket appliances.

Weekly Support @ 8650 and the rest PA takes care.

Tip for beginners as well. Always watch the time frame higher than your trading Time frame and make sure you are correctly placed on higher TF context. Most of the time you will be against the higher TF trend and that's why you have many losers.
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