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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

  • #136,021
  • Jul 20, 2015 9:30am Jul 20, 2015 9:30am
Quoting mbqb11
{quote} Hey Nicole Good to see you posting Divergence can be seen on your charts just by looking at the movement of price. Of course you can use an oscillator to confirm this but after awhile you'll know it's there My ideal way is to look for a confirmation of the TL and then PA to go LONG. That's going to provide the best setup in my book. Now this TL area can STILL hold us to the downside. So it's important we don't get ahead of ourselves if the correct PA doesn't show. Yes you can also look for PA to go short there but as price is turning over...
Thanks Mike,

How is the paid website thing progressing?
I am interested in joining. Let me know how do i go about it.

Thanks again
  • #136,022
  • Jul 20, 2015 12:36pm Jul 20, 2015 12:36pm
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  • #136,023
  • Jul 20, 2015 12:40pm Jul 20, 2015 12:40pm
Quoting nicole99
{quote} Thanks Mike, How is the paid website thing progressing? I am interested in joining. Let me know how do i go about it. Thanks again
We are close to making some announcements will be sure to keep you posted


Mike
  • #136,024
  • Jul 20, 2015 12:44pm Jul 20, 2015 12:44pm
UCAD 1hr BEOB had a lot going for it, but with that trouble just below it you have to say no and sit on your hands.

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  • #136,025
  • Jul 20, 2015 12:58pm Jul 20, 2015 12:58pm
Quoting alphac
UCAD 1hr BEOB had a lot going for it, but with that trouble just below it you have to say no and sit on your hands. {image}
yep or if you do sell this make sure you sell at the BRN on a retrace not on a close or break. That gets new traders CRUSHED

it's always the best for you risk mgmt to sell near that major area(or buy). Can take small risk higher reward scenarios
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  • #136,026
  • Jul 20, 2015 2:49pm Jul 20, 2015 2:49pm
Unfortunately I missed a entry at this two trades today.
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  • #136,027
  • Jul 21, 2015 3:05am Jul 21, 2015 3:05am
This just made me think of Jim, his voice still replays in my head when I'm taking trades.

There's even a textbook retrace on this one.

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  • #136,028
  • Jul 21, 2015 3:31am Jul 21, 2015 3:31am
Quoting alphac
This just made me think of Jim, his voice still replays in my head when I'm taking trades. There's even a textbook retrace on this one. {image}
Great post Alphac! Thanks
  • #136,029
  • Jul 21, 2015 5:24am Jul 21, 2015 5:24am
Went long EUR/NZD.
Lets see if it can break upwards at this strong support level.
Time horizon for that trade are the next two 4H bars.
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  • #136,030
  • Jul 21, 2015 5:41am Jul 21, 2015 5:41am
Quoting Kershey
Went long EUR/NZD. Lets see if it can break upwards at this strong support level. Time horizon for that trade are the next two 4H bars. {image}
Much preferred the 1hr pinbar.

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  • #136,031
  • Jul 21, 2015 10:41am Jul 21, 2015 10:41am
Quoting Tin-soldier
{image}
Hi Tin,

I am also in same boat...I know it was mike style trading.... I get struggled to understand the logic behind this entry, but i tried out..
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Adhav
  • #136,032
  • Jul 21, 2015 10:25pm Jul 21, 2015 10:25pm
Quoting Adhavan
{quote} Hi Tin, I am also in same boat...I know it was mike style trading.... I get struggled to understand the logic behind this entry, but i tried out.. {image} Adhav
Closed with lose..

Adhav
  • #136,033
  • Edited 3:35pm Jul 22, 2015 1:38am | Edited 3:35pm
EUR/NZD D1 PB. Profit locked. Locked in 100 pips. Let market take me out.

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CAD/JPY D1. BEOVB from a few days back. Getting some movement down now. See how he goes. Looking for 2R. Trade's a slow mover so moved to BE. Free trade.

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NZD/CHF H4 IB break. Looking for price to break through .63000 as it's done before.

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'Fail to plan, plan to fail'
  • #136,034
  • Jul 22, 2015 3:38am Jul 22, 2015 3:38am
Quoting Guitarbloke
EUR/NZD D1 PB. Profit locked. {image}
Im on the same train, but i entered on the break of the PB, so i will move to BE only after we hit FTA
Market can stay irrational longer than you can stay solvent.
  • #136,035
  • Jul 22, 2015 6:56am Jul 22, 2015 6:56am
Missed entry at that one by 20 pips
now its really departing north.
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  • #136,036
  • Edited 8:04am Jul 22, 2015 7:51am | Edited 8:04am
You don't need the MACD to see the divergence, a few S&R areas and a trendline on the chart will help you decide whether to take a trade and plan your trade management, the trouble areas will already be there for you.

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Can also give you great areas to trade on smaller timeframes.

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  • #136,037
  • Jul 22, 2015 12:27pm Jul 22, 2015 12:27pm
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  • #136,038
  • Jul 22, 2015 12:27pm Jul 22, 2015 12:27pm
Quoting Adhavan
{quote} Closed with lose.. Adhav
don't feel too bad Ad this was a solid trade I took a loss on this one too

Best
Mike
  • #136,039
  • Jul 22, 2015 3:55pm Jul 22, 2015 3:55pm
AUDNZD anyone? Double PB, with a strong bullish trend, on a visible trendline, 61% Fib retracement . Please let me know if im missing something from J16's conditions of entering a trade.
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Market can stay irrational longer than you can stay solvent.
  • #136,040
  • Jul 22, 2015 6:39pm Jul 22, 2015 6:39pm
You marked the S&R area under the pins, there's also one where both the pins stopped, at each arrow it affected price multiple times. Although you placed your order above the pins, you'd really want to see a retrace back down to the S&R area before looking to buy (maybe on a smaller time frame)

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