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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

  • #138,661
  • Feb 24, 2016 9:56pm Feb 24, 2016 9:56pm
Quoting KissFan
Eur/Gbp gap. Almost 200 pips higher since the gap up on Sunday evening and price rocketed straight up into that historically strong PPZ. Price has spent many months of consolidation in this zone. I think short trading opportunities back down to the gap are in the not too distant future for those who are patient and observant. K.I.S.S. {image} {image}
couldn't agree more bud good to see you

I'm watching this one real close too, may hold as resistance but i'll take the confirmation of support over the sell
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  • #138,662
  • Feb 24, 2016 11:30pm Feb 24, 2016 11:30pm
Hi guys can you please give your comment on following chart?

A bullish pin bar appeared (marked with a red arrow) on what I guess a PPZ, with a bullish close, a long tail and space to left. But it didn't work out. Is that a valid pinbar setup for going long, or are there any reasons for not taking that trade? Thanks.

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  • #138,663
  • Feb 25, 2016 4:31am Feb 25, 2016 4:31am
hi, sellers have wone this battle....
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  • #138,664
  • Feb 25, 2016 8:31am Feb 25, 2016 8:31am
Hi Mike,

i want to hear your opinion about this daily pin on USDJPY, i know that is not on swing low..
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  • #138,665
  • Feb 25, 2016 11:27am Feb 25, 2016 11:27am
Quoting TrendyRanger
Hi guys can you please give your comment on following chart? A bullish pin bar appeared (marked with a red arrow) on what I guess a PPZ, with a bullish close, a long tail and space to left. But it didn't work out. Is that a valid pinbar setup for going long, or are there any reasons for not taking that trade? Thanks. {image}
I'll be happy to give you my point of view but it is easier for me if I know what pair and tf this is. Thank you.

K.I.S.S.
  • #138,666
  • Feb 25, 2016 1:51pm Feb 25, 2016 1:51pm
Quoting CapitalInves
Hi Mike, i want to hear your opinion about this daily pin on USDJPY, i know that is not on swing low.. {image} {image}

Still a newbie but i think that you want to close that trade at the midpoint
sorry for my english
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  • #138,667
  • Edited 3:08pm Feb 25, 2016 2:53pm | Edited 3:08pm
Add some oil position ..
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​

Daily IB on gold..
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  • #138,668
  • Feb 25, 2016 4:11pm Feb 25, 2016 4:11pm
Brent (UK) Oil Spot Daily

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  • #138,669
  • Feb 25, 2016 6:57pm Feb 25, 2016 6:57pm
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Hello folks. USD/JPY D1 PB.
'Fail to plan, plan to fail'
  • #138,670
  • Feb 25, 2016 8:07pm Feb 25, 2016 8:07pm
Quoting KissFan
{quote} I'll be happy to give you my point of view but it is easier for me if I know what pair and tf this is. Thank you. K.I.S.S.
Hello KissFan, that is a screenshot I took while I was backtesting, now I can't remember which pair and timeframe.
  • #138,671
  • Feb 26, 2016 5:36am Feb 26, 2016 5:36am
Quoting alphac
Was opportunity to jump in the Gbp sell off this morning, pure J16 stuff, no indicators needed.
GbpUsd 1hr, move above 1.40 again and a total rejection with the 2hr pinbar, and some divergence thrown in.

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  • #138,672
  • Feb 26, 2016 11:24am Feb 26, 2016 11:24am
Quoting TrendyRanger
Hi guys can you please give your comment on following chart? A bullish pin bar appeared (marked with a red arrow) on what I guess a PPZ, with a bullish close, a long tail and space to left. But it didn't work out. Is that a valid pinbar setup for going long, or are there any reasons for not taking that trade? Thanks. {image}
Hey TR

Yes that is a pinbar. In terms of valid. We technically say a bar needs to break the high for it to be validated. Since the high never broke it's not consider one that is validated

But with that said that doesn't mean we want to trade all bars on a break either. In this case here what would keep me away is I don't see any story or context to the bar. Remember the bars are really our trigger points in

For example if your chart looked like this, i'd say it's a much stronger play and we can enter at the previous swing. Now it's a crude drawing

but a huge subtle difference in getting some strength and support to your bar. It's all about those small nuances to me

Hope that helps
Mike
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  • #138,673
  • Feb 26, 2016 11:26am Feb 26, 2016 11:26am
Quoting CapitalInves
Hi Mike, i want to hear your opinion about this daily pin on USDJPY, i know that is not on swing low.. {image} {image}
Great job CI

I stayed away from a lot of these bars. February to me has been slim pickings. This one really took off. This is actually a swing low, price is just in a box. So that midpoint becomes a good first target or get to b/e in my book

Well done wish I caught it

Mike
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  • #138,674
  • Feb 26, 2016 11:27am Feb 26, 2016 11:27am
Quoting florinellz
{quote} Still a newbie but i think that you want to close that trade at the midpoint sorry for my english {image}
you don't sound like a newbie to me! That's really great understanding of price!

Mike
  • #138,675
  • Feb 26, 2016 11:33am Feb 26, 2016 11:33am
Here was one of my few trades from february. To me Feb has been slim pickings so I stayed sidelined

This ended up at b/e just slightly mistimed


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moved to b/e and got taken out at b/e
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Then we got there
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Have a great weekend everyone
Mike
  • #138,676
  • Feb 26, 2016 12:44pm Feb 26, 2016 12:44pm
Here’s a pretty awesome WIPG trade without PA confirmation though. It was a short term trade against the momentum. Caught the bounce at the very pip it reversed... zero drawdown... and exited at the exact pip too. Doesn’t always work as precisely as this of course, but for a 10 points SL and 100 points TP... this is one I shall print, laminate and show to my kid(s) some day (if I ever have any). Thank you, Jim.
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  • #138,677
  • Feb 26, 2016 12:55pm Feb 26, 2016 12:55pm
Quoting incognito517
Heres a pretty awesome WIPG trade without PA confirmation though. It was a short term trade against the momentum. Caught the bounce at the very pip it reversed... zero drawdown... and exited at the exact pip too. Doesnt always work as precisely as this of course, but for a 10 points SL and 100 points TP... this is one I shall print, laminate and show to my kid(s) some day (if I ever have any). Thank you, Jim. {image}
dang NICE!
  • #138,678
  • Feb 26, 2016 1:14pm Feb 26, 2016 1:14pm
Quoting mbqb11
{quote} dang NICE!
Thanks Mike. It's good that you're here, I have a question for you. I've been watching GBPAUD for a while and I did make some on the initial reaction to BRN 2.0 but long term... we've broken through 2.0 and the TL. How do you see this pair now?
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  • #138,679
  • Edited 2:59pm Feb 26, 2016 2:48pm | Edited 2:59pm
Channel breakout daily trade AUDCAD
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  • #138,680
  • Feb 26, 2016 3:10pm Feb 26, 2016 3:10pm
Quoting CapitalInves
Channel breakout daily trade AUDCAD {image}
O yes! That is a beauty. I shorted this pair earlier in the week for a 1% gain. If I had your chart reading skills I would have held on for much more. Beautiful trade CI.

K.I.S.S.
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