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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

  • #139,502
  • Aug 20, 2016 10:56am Aug 20, 2016 10:56am
How are all my friends doing I know I've been not so active, apologies for that

Was a tough week in the markets I felt. I had a losing week, but just gotta keep applying your edge. I've said it all year long this is NOT an easy trading year in my opinion. Obviously depending on your style or method it may be. But from my view point this is one of the tougher years I can remember.

Here were three trades for me. 2 losses and 1 win.


First trade eur/nzd BUOB breakout of TL. Loss

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Price ended up spiking down and taking me out, but it looked like a clear false breakout and we stayed above the MAJOR support. I entered back in and was able to claw a decent profit. Not quite enough to make up for the first loss
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Third trade a BUOB breakout of a beautiful Box, Price got going a bit to reduce risk but ended up coming back for a small loss

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How are you guys doing in these markets?

If you haven't got a chance I added a new video on S/R that may be of help to some of you new folks
https://www.james16group.us/wp/suppo...tance-in-forex


Enjoy the weekend!
Mike
  • #139,503
  • Aug 20, 2016 11:01am Aug 20, 2016 11:01am
Quoting mbqb11
How are all my friends doing I know I've been not so active, apologies for that Was a tough week in the markets I felt. I had a losing week, but just gotta keep applying your edge. I've said it all year long this is NOT an easy trading year in my opinion. Obviously depending on your style or method it may be. But from my view point this is one of the tougher years I can remember. Here were three trades for me. 2 losses and 1 win. First trade eur/nzd BUOB breakout of TL. Loss {image} Price ended up spiking down and taking me out, but it looked...
welcome back
  • #139,504
  • Aug 20, 2016 11:03am Aug 20, 2016 11:03am
Quoting priceaction9
{quote} welcome back



How are you PA? What's good in the markets for you?

Mike
  • #139,505
  • Aug 20, 2016 11:02pm Aug 20, 2016 11:02pm
Great recap of the week, Mike! That video was really well put together too. Thanks for all the free content you provide to us mere mortals.
As posted above, I ended up taking a long on that GBPAUD chart you were talking about in the video, but on the daily instead of the H1 or H4.

Quoting Liquidity
I like set ups like these. I've set a buy limit, we'll see how it goes.
Update:
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Confluence is king.
  • #139,507
  • Aug 21, 2016 3:23am Aug 21, 2016 3:23am
Quoting mbqb11
{quote} How are you PA? What's good in the markets for you? Mike
Price Action Gods r kind to me lately ;-)
  • #139,508
  • Aug 21, 2016 9:23am Aug 21, 2016 9:23am
Quoting mbqb11
How are all my friends doing I know I've been not so active, apologies for that Was a tough week in the markets I felt. I had a losing week, but just gotta keep applying your edge. I've said it all year long this is NOT an easy trading year in my opinion. Obviously depending on your style or method it may be. But from my view point this is one of the tougher years I can remember. Here were three trades for me. 2 losses and 1 win. First trade eur/nzd BUOB breakout of TL. Loss {image} Price ended up spiking down and taking me out, but it looked...

Hey Mike, why did u took the g/nzd once it broke the high ? I thought you would have taken it around 1.8030 (break área)

Thx
Fxchap
  • #139,509
  • Aug 21, 2016 10:16am Aug 21, 2016 10:16am
Quoting Liquidity
Great recap of the week, Mike! That video was really well put together too. Thanks for all the free content you provide to us mere mortals. As posted above, I ended up taking a long on that GBPAUD chart you were talking about in the video, but on the daily instead of the H1 or H4. {quote} Update: {image}

great job L! That was a very interesting pair respecting S/R quite well. That's always the best when the market actually respects things. A lot of pairs are so choppy that the levels they respect are much wider and thus makes it more difficult to trade

Keep it up
Mike
  • #139,510
  • Aug 21, 2016 10:16am Aug 21, 2016 10:16am
Quoting priceaction9
{quote} Price Action Gods r kind to me lately ;-)
awesome! Glad to hear you are doing well
  • #139,511
  • Aug 21, 2016 10:17am Aug 21, 2016 10:17am
Quoting Fxchap
{quote} Hey Mike, why did u took the g/nzd once it broke the high ? I thought you would have taken it around 1.8030 (break rea) Thx Fxchap
Hey Chap

That first 4hr buob didn't close above the TL, so I used the next hourly close(which was also another aggregated 4hr buob) to take the trade. I always want to make sure i'm above/below my area

Best
Mike
  • #139,512
  • Aug 21, 2016 10:22am Aug 21, 2016 10:22am
this is my top chart going into next week

Simple boxing right around the 13.500. Will watch for breakouts and failures at the highs. Just waiting for good PA to show us where it wants to go. But as I said a few posts above this market is acting very nice and that's always easier to trade

what are you guys watching? I'll post more this week too

Mike
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  • #139,513
  • Aug 21, 2016 11:14am Aug 21, 2016 11:14am
Quoting mbqb11
this is my top chart going into next week Simple boxing right around the 13.500. Will watch for breakouts and failures at the highs. Just waiting for good PA to show us where it wants to go. But as I said a few posts above this market is acting very nice and that's always easier to trade what are you guys watching? I'll post more this week too Mike {image}
Hi Mike,
I'm watching this Engulfing bar on D1 chart. It formed of a (weak) support area and is pointing towards the 50% Fib retracement on the bigger Fib. Price closed below a Fib confluence pulling back slightly maybe because of the weekend.
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  • #139,514
  • Aug 21, 2016 2:49pm Aug 21, 2016 2:49pm
Quoting Zaak
{quote} Hi Mike, I'm watching this Engulfing bar on D1 chart. It formed of a (weak) support area and is pointing towards the 50% Fib retracement on the bigger Fib. Price closed below a Fib confluence pulling back slightly maybe because of the weekend. {image}
Zaak not Mike but in my feed Fxpro i don't have a BUOB; neither you have; to be a BUOB the low of the friday bar should be lower than low of thursday bar; so
no triger=no trade
Mike i think Fxchap was refering to GBP/NZD and you said your opinion about EUR/NZD.
Fxchap i think Mike took GBP/NZD trade at the close of the H4. As you know, we buy at ask and sell at bid ; the diference between bid and ask is spread; the spread of GBP/NZD in Fxpro is around 8-10 pips; if you calculate you will see that the diference between the close of the bar and the high is around 8 pips. Hope you understand now
P.S. sorry for my english

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  • #139,515
  • Aug 21, 2016 4:16pm Aug 21, 2016 4:16pm
Quoting Zaak
{quote} Hi Mike, I'm watching this Engulfing bar on D1 chart. It formed of a (weak) support area and is pointing towards the 50% Fib retracement on the bigger Fib. Price closed below a Fib confluence pulling back slightly maybe because of the weekend. {image}
Hey Zaak

Just some things I see like Flor said. I don't have a buob on my feed. Could be seen as a 2day pinbar but it's trading back into the wedge. This is resistance until we get above.
Personally I like the idea of looking for longs IF we can get back above the highs from the breakout area. This could provide a good tipping point to drive us higher. But until that happens i'd be more bearish

Those are the areas I'd be watching personally

Best
Mike
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  • #139,516
  • Aug 22, 2016 12:32am Aug 22, 2016 12:32am
Quoting mbqb11
{quote} Hey Zaak Just some things I see like Flor said. I don't have a buob on my feed. Could be seen as a 2day pinbar but it's trading back into the wedge. This is resistance until we get above. Personally I like the idea of looking for longs IF we can get back above the highs from the breakout area. This could provide a good tipping point to drive us higher. But until that happens i'd be more bearish Those are the areas I'd be watching personally Best Mike {image} {image}
@ florinellz & @mbqb11 Mike, thank you guys.
  • #139,518
  • Aug 22, 2016 8:35am Aug 22, 2016 8:35am
Hello everyone,
I found very strong opportunity on AUD/USD. I am bullish from 0.7625.

Inserted Video


Feel free to comment if you like analysis

Best Regards,
Petar
"Buy on fear, sell on greed !!!
  • #139,519
  • Aug 22, 2016 12:58pm Aug 22, 2016 12:58pm
Quoting Petar_Serbia
Hello everyone, I found very strong opportunity on AUD/USD. I am bullish from 0.7625. https://www.youtube.com/watch?v=NR3i...ature=youtu.be Feel free to comment if you like analysis Best Regards, Petar
i am short at same level
  • #139,520
  • Aug 22, 2016 2:09pm Aug 22, 2016 2:09pm
Quoting florinellz
{quote} Zaak not Mike but in my feed Fxpro i don't have a BUOB; neither you have; to be a BUOB the low of the friday bar should be lower than low of thursday bar; so no triger=no trade Mike i think Fxchap was refering to GBP/NZD and you said your opinion about EUR/NZD. Fxchap i think Mike took GBP/NZD trade at the close of the H4. As you know, we buy at ask and sell at bid ; the diference between bid and ask is spread; the spread of GBP/NZD in Fxpro is around 8-10 pips; if you calculate you will see that the diference between the close of the bar...
Hi Florinellz,

Your english is great, youre right that diff must be the spread.

Thx for your input !
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