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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

  • #133,921
  • Mar 7, 2015 7:43am Mar 7, 2015 7:43am
Hey guys,

Has anyone read the book Naked Forex: High-Probability Techniques for Trading Without Indicators by Alex Nekritin and if so, may I know your reviews to it? Thanks loads.

Foto
  • #133,922
  • Mar 7, 2015 10:34am Mar 7, 2015 10:34am
Update on USDCHF and NZDUSD.

USDCHF - 150 Pips locked.

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Nice move on NZDUSD.

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  • #133,923
  • Mar 8, 2015 6:22am Mar 8, 2015 6:22am
Hi Guys,

Would you sell this future against the main trend? It is a pinbar on the weekly chart and an engulfment on lower time frames.
I am interested in any openions.
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  • #133,924
  • Mar 8, 2015 11:12am Mar 8, 2015 11:12am
Quoting Microtrader_
Hi Guys, Would you sell this future against the main trend? It is a pinbar on the weekly chart and an engulfment on lower time frames. I am interested in any openions. {image} {image} {image} {image}
Hi Microirader, I am not experience trader yet, but i think on daily it's B+ trade: we have huge BEOB from suport(blue line). we have some space on left side from BEOB. I think it's not A+ trade because FTA is near 60.00, so you can go to BE or give partial or all profit near 60.00. It's just my opinion.
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  • #133,925
  • Mar 8, 2015 7:04pm Mar 8, 2015 7:04pm
What do u think , i see usdcad going down ?
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  • #133,926
  • Mar 8, 2015 8:19pm Mar 8, 2015 8:19pm
Quoting protuberanec
{quote} Hi Microirader, I am not experience trader yet, but i think on daily it's B+ trade: we have huge BEOB from suport(blue line). we have some space on left side from BEOB. I think it's not A+ trade because FTA is near 60.00, so you can go to BE or give partial or all profit near 60.00. It's just my opinion.{image}

Many thx for your openion!

Microtrader
  • #133,927
  • Mar 8, 2015 8:45pm Mar 8, 2015 8:45pm
Quoting Fotovinic
Hey guys, Has anyone read the book Naked Forex: High-Probability Techniques for Trading Without Indicators by Alex Nekritin and if so, may I know your reviews to it?
Hey mate. I recently read this book and liked it a lot. The author clearly knows what he's talking about and there are many great little snippets of knowledge I gained from reading it. I wish I stumbled upon this book back when I started training. I think the entry signals outlined in Naked Forex are great (apart from the stupid names he gives to them).
In my opinion though, the book needs to focus more where to trade these signals from. The section on S/R isn't nearly comprehensive enough, and there's nothing about finding high probability areas to trade from by using confluence such as trend lines, BRNs, a basic fundamental analysis bias, etc.
Overall, I'd highly recommend reading Naked Forex and taking notes.
Confluence is king.
  • #133,928
  • Mar 9, 2015 7:41pm Mar 9, 2015 7:41pm
Quoting reajen
What do u think , i see usdcad going down ? {image}
Hey Reajen

Welcome to the thread

Be careful here, it seems like you are trying to short just because we are coming near a previous swing point. That's very difficult to do

I'm actually long this pair on the breakout of the wedge formation using confirming price action. I think it's very important new folks use Price action to confirm up there trades. It will keep you being picky and help you begin to form trade plans

Hope that helps and again welcome
Mike
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  • #133,929
  • Mar 10, 2015 8:59am Mar 10, 2015 8:59am
Hi guys, my trades for this week...
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  • #133,930
  • Mar 10, 2015 10:51am Mar 10, 2015 10:51am
Hi all,
thanks for your valuable comment.
It seems to be only the starting point !
cheers
Xam
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  • #133,931
  • Mar 10, 2015 11:04am Mar 10, 2015 11:04am
Quoting protuberanec
{quote} Hi Xam, I also take GBPCAD short. I think we have PPZ near 1.9300 (blue rectangle) also we have space and divergence. Pin is not big i think my tp is in FTA and it is conservativ. {image} {image}
Hi Protuber, at the end was a good trade !
cheers
  • #133,932
  • Mar 10, 2015 11:40am Mar 10, 2015 11:40am
Quoting Vilko
Hi guys, my trades for this week... {image} {image} {image}
moved SL
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  • #133,933
  • Mar 10, 2015 3:20pm Mar 10, 2015 3:20pm
Quoting mbqb11
{quote} Hey Reajen Welcome to the thread Be careful here, it seems like you are trying to short just because we are coming near a previous swing point. That's very difficult to do I'm actually long this pair on the breakout of the wedge formation using confirming price action. I think it's very important new folks use Price action to confirm up there trades. It will keep you being picky and help you begin to form trade plans Hope that helps and again welcome Mike {image}
most of my risk reduced here as my initial stop was under the BUOB
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  • #133,934
  • Mar 11, 2015 1:33am Mar 11, 2015 1:33am
Hi Mike, I've heard you say that a line needs three touches before you consider it a trendline, also the touches here were quite far apart, what made you consider this one differently? Also technically you took the trade right into the top of a box, wouldn't you consider this an instance where the safest way would be to wait for a pullback?

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  • #133,935
  • Mar 11, 2015 1:50am Mar 11, 2015 1:50am
Hi Mike,
How much is the monthly subscription to a James's group?
Do you discuss signals more often in the group?
Thanks.
  • #133,936
  • Mar 11, 2015 6:39am Mar 11, 2015 6:39am
Quoting alphac
Hi Mike, I've heard you say that a line needs three touches before you consider it a trendline, also the touches here were quite far apart, what made you consider this one differently? Also technically you took the trade right into the top of a box, wouldn't you consider this an instance where the safest way would be to wait for a pullback? {image}
Hey Alphac

Notice on your box area that price is shooting through it twice.

A box should be respected at it's tops and bottoms and not have price shoot through it. Vs my trendline and wedge is a pattern respected on both sides with symmetry. The 3rd touch of the TL is the BUOB itself in this case
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here is also an example of when I started to watch the actual pattern too in the pf
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Hope that helps
Mike
  • #133,937
  • Mar 11, 2015 7:42am Mar 11, 2015 7:42am
Quoting Alehandro
Hi Mike, How much is the monthly subscription to a James's group? Do you discuss signals more often in the group? Thanks.
Hey Alehandro

The current monthly fee is 129 a month and then free after 12 months.

yes I discuss most of my trades in detail like i did here with the usd/cad. i try not to do it here since we have a wider range of newer trades and it's premium for the paid members

Best
Mike
  • #133,938
  • Mar 11, 2015 8:01am Mar 11, 2015 8:01am
Quoting mbqb11
{quote} most of my risk reduced here as my initial stop was under the BUOB {image}
out for 2.5% gain
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  • #133,939
  • Mar 11, 2015 2:48pm Mar 11, 2015 2:48pm
Quoting Donkey
Here's chart I'll be watching next week. A lot of confluence at 90.00 on NZDJPY. {image} {image}
It took almost a month to get the PA I wanted at the area I wanted, but I took a 2-day BEOB at market close last Thursday. TP hit today for about 1.84R - my best trade of the year by far. It was certainly worth the wait.

Chart shows entry and original stop. It's not shown but I did reduce risk (mike's dynamic R:R) almost immediately.

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Second chart shows going to BE + (was actually the second time I moved stop)

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Third chart shows trade closed. Seeing today's PB this is about as good of an exit as I've had in a long time.

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  • #133,940
  • Mar 11, 2015 5:22pm Mar 11, 2015 5:22pm
Quoting Donkey
{quote} It took almost a month to get the PA I wanted at the area I wanted, but I took a 2-day BEOB at market close last Thursday. TP hit today for about 1.84R - my best trade of the year by far. It was certainly worth the wait. Chart shows entry and original stop. It's not shown but I did reduce risk (mike's dynamic R:R) almost immediately. {image} Second chart shows going to BE + (was actually the second time I moved stop) {image} Third chart shows trade closed. Seeing today's PB this is about as good of an exit as I've had in a long time. {image}...
way to go bud
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