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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

  • #138,741
  • Mar 7, 2016 8:21pm Mar 7, 2016 8:21pm
Quoting mbqb11
Hey folks hope everyone is fairing well i've found February and march TOUGH trading months. Lot's of chop, win , lose , win lose. But keep plugging away with your edge when it shows and keep those drawdowns small as possible. Patience and more patience. Will be watching this squeeze down on the usd/mxn which I took a loss on earlier this morning trying to sneak in a bit early {image}
Thanks Mike - glad I'm not the only one. I was finally getting the hang of this and then looking through charts in February there was very little price action that stood out to me, which was disheartening but I knew to just sit on my hands and wait. I'm based in Australia so I'm not awake for the main US movements but it was indeed a strange month and March is shaping up the same.

It's really great to hear from someone who does this for a living saying the same thing as that proves it's not all in my imagination!

Thanks for your help and guidance here as always.
  • #138,742
  • Mar 8, 2016 5:22am Mar 8, 2016 5:22am
USDSGD resistance retrace and MACD divergence
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  • #138,743
  • Mar 8, 2016 5:47am Mar 8, 2016 5:47am
EURAUD looks to 1,44
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  • #138,744
  • Mar 8, 2016 5:54am Mar 8, 2016 5:54am
Mike what would you do here?
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  • #138,745
  • Mar 8, 2016 6:59am Mar 8, 2016 6:59am
Quoting turnip15
CapitalInves is a spammer, and not a very good one at that. He is seeking free publicity for his services by riding on the back of this thread. He was asked to explain his trades in the same manner or style as Jim or Mike or even as Bill does above. But he couldn't do that. Instead he has cut and pasted text from the web. Like Zortan says," it isn't explaining the reason (using TA) for your trades is it?"
yeap, not a very good spammer lol
  • #138,746
  • Mar 8, 2016 7:19am Mar 8, 2016 7:19am
Quoting Poinson
Mike what would you do here? {image} {image} {image}
Hi Poinson, i'm not Mike and still a newbie but a think the price is now at the midpoint of the box. For this pair i like to see a BEOB that close outside the box and also unde the PPZ 8.43 ; sorry for my english

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  • #138,747
  • Mar 8, 2016 7:49am Mar 8, 2016 7:49am
Quoting priceaction9
{quote} yeap, not a very good spammer lol
But AUD is moving as CI has said. So he mage a good contribution in any case. Thanks.
  • #138,748
  • Mar 8, 2016 8:29am Mar 8, 2016 8:29am
Quoting Poinson
{quote} But AUD is moving as CI has said. So he mage a good contribution in any case. Thanks.
P - stick to Mike and others who show price action analysis BEFORE the result- anyone can give a good story in hindsight.
every Saint has a past. Every Sinner has a Future
  • #138,749
  • Mar 8, 2016 10:38am Mar 8, 2016 10:38am
Quoting analysttrade
Hidden
SPAM ALERT
Newly supporters of CI beginning to surface. BS detectors on full power folks.
every Saint has a past. Every Sinner has a Future
  • #138,750
  • Mar 8, 2016 11:14am Mar 8, 2016 11:14am
Quoting turnip15
{quote} SPAM ALERT Newly supporters of CI beginning to surface. BS detectors on full power folks.
yeap indeed, same grammar mistakes, pretty sure must have same IP too

BS detector working fine ;-)
  • #138,751
  • Mar 9, 2016 5:07am Mar 9, 2016 5:07am
I am bit confused and have a question.
Is this a good idea to try to find supply and demand through price actions on cross pairs?
Is there supply/demand indeed or crosses just are following the supply/demand on mothers pairs?
  • #138,752
  • Mar 9, 2016 7:25pm Mar 9, 2016 7:25pm
"Copy and paste" from another thread i contribute to...

Here's my take on U/C from here.
Price will retrace upward to the first gold line where i will be looking for a short order, based on PA at this area.
I don't know if price will retrace to the 2nd gold line, or somewhere in-between, but going on the deep retrace yesterday it could very well do but i have my doubts (famous last words).
From there price should move down to the 1.32 - 1.312 area where i will re-evaluate based on the then current PA.
I will be looking to short at least twice on it's way down.
See how she goes...
Happy Trading
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  • #138,753
  • Edited 4:02am Mar 10, 2016 2:34am | Edited 4:02am
Hi, Mike what do you think about this USDCAD daily BEOB at resistance zone ?
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  • #138,754
  • Mar 10, 2016 8:55am Mar 10, 2016 8:55am
I took this trade this morning. I have had a long bias against the jpy. I liked the last weeks W1 candle and it's location so I have been looking long on this pair. After watching the price action for 4 days with this bias, I took a trade and shared my trade in the James16 group chatroom. Most of my trades take a few days to play out as I am not a "daytrader". This one trade added 2% to my account. In this group we learn to trade conservatively. We also take losing trades but we know how to limit our losses. We know this because Jim and Fudd have taught us very well. Stay plugged in right here and you will learn with practice to trade profitably. If you feel that you need more daily interaction with this group, then consider joining the private forum. We would love to have you there.

K.I.S.S.
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  • #138,755
  • Mar 10, 2016 3:08pm Mar 10, 2016 3:08pm
Quoting Poinson
Mike what would you do here? {image} {image} {image}
Hey P

That's why I really like to use price action bars to confirm my breakout areas. When you just trickle and close outside of them although many work, many don't and your left with one less filter. If we get continuation PA that's much easier to interpret for me personally. So a nice big beob there or something would be much stronger for me.

Let me know if that makes sense
Mike
  • #138,756
  • Mar 10, 2016 3:09pm Mar 10, 2016 3:09pm
Quoting protradingcl
Hi, Mike what do you think about this USDCAD daily BEOB at resistance zone ? {image}
Hey P

Here were my comments from the PF about this one yesterday

"once again i'd agree with this. Really tough to play anyway you cut it. Might be a retrace entry in there early in the evening and quick to b/e or take profit, but Tricky with all the traffic too"


Now notice we DID pullback to the lows, and price moved down. At that point because of the location I really think you have to get to b/e or you can get caught like this. Very tough situation to trade for me

Best
Mike
  • #138,757
  • Mar 10, 2016 4:38pm Mar 10, 2016 4:38pm
What's people's thoughts on this pin? Bounced off of a decent area that's had a few touches, and we have a nice trouble area below that could be used as first target, with much more downside potential?

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Thanks
  • #138,758
  • Mar 10, 2016 5:18pm Mar 10, 2016 5:18pm
Quoting jakeparkin
What's people's thoughts on this pin? Bounced off of a decent area that's had a few touches, and we have a nice trouble area below that could be used as first target, with much more downside potential? {image} Thanks
I wouldn't touch that one - it's not really a good pin. You have a lot of space above that area where price could move to 163 or more before reversing. If you look on the weekly there's a chance it could retrace even higher before turning around too.

If the body of the pin was sitting higher with a longer tail then yes it might be suggesting a change of direction but this one doesn't look at all like that to me.

I'd watch the 4 hour for signs of a big movement to confirm any downward movement. If you look at the 4hr now price is just aimlessly wandering around.

It's also Friday which means things are going to be slower than other days.

Just my opinion...I'm by no means an expert
  • #138,759
  • Mar 10, 2016 7:12pm Mar 10, 2016 7:12pm
Quoting jakeparkin
What's people's thoughts on this pin? Bounced off of a decent area that's had a few touches, and we have a nice trouble area below that could be used as first target, with much more downside potential? {image} Thanks
Hi Jake, by strict definition, that is not a pinbar. There is a pin on my H4 feed (oanda) however to play it short there is not much room before the first fta. The weekly pa on the yen crosses give me a long bias so Im looking long on these. This of course doesn't mean that Im right. I am just giving you an opinion. Hope this helps you.

K.I.S.S.
  • #138,760
  • Mar 11, 2016 12:21am Mar 11, 2016 12:21am
I wish we would have a support test here with the PA
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