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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

  • #139,641
  • Sep 13, 2016 3:32pm Sep 13, 2016 3:32pm
Quoting TGpop
I'm wondering if any of the more experienced traders could give some advice. Basically I understand that we should avoid taking setups right at important levels (traffic). It it appears that sometimes though we should disregard important levels if the setup is strong enough . Take this Audusd pin bar from s few years back, traders on this thread took this short even though it was right over a big pivot zone . hmmm, any thoughts? {image}
Hey TG

The main reasons people would take that one would be the double top and failure of that last major swing point. I'd prefer if that bar set higher up into that swing myself. But those can work well if they break hard.

Best
Mike
  • #139,642
  • Sep 13, 2016 3:33pm Sep 13, 2016 3:33pm
Quoting Maklla
Do you have still open long Mike? Hope that you are good {image} {image} {image} {image}

Looks good Mak! I took profit but it's still rolling. I got short instead on the nzd/cad
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  • #139,643
  • Sep 13, 2016 3:59pm Sep 13, 2016 3:59pm
I also like the idea of buying back the SP/DOW to the highs of yesterday, and then looking to sell again

I just like the volatility either way though
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  • #139,644
  • Sep 14, 2016 2:52am Sep 14, 2016 2:52am
could b thats a bearish action ,end result break down
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  • #139,645
  • Sep 14, 2016 4:41am Sep 14, 2016 4:41am
EU Forecast For Today
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  • #139,646
  • Sep 14, 2016 10:07am Sep 14, 2016 10:07am
Hi guys...maybe anybody else had took this PB, i really don't know where it will out, maybe it will take profit...will see/
PS Sorry for my english
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  • #139,647
  • Sep 14, 2016 4:37pm Sep 14, 2016 4:37pm
Quoting mbqb11
{quote} Looks good Mak! I took profit but it's still rolling. I got short instead on the nzd/cad {image}
This stopped me out for a .5% loss, initial risk was above the swing then reduced to .5. That's something I try to be vigilant about.

Still in the minispt500 but will be watching to cut that one too if we can't start to swing higher over night

Mike
  • #139,648
  • Sep 14, 2016 4:40pm Sep 14, 2016 4:40pm
Quoting RussianBoss
Hi guys...maybe anybody else had took this PB, i really don't know where it will out, maybe it will take profit...will see/ PS Sorry for my english {image}
Hey RB

In terms of space it's about run out in this area. That's always a potential major turning point.

Don't be shy to take profit unless you have bigger reasons to hold, especially in these types of choppy markets

Best
Mike
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  • #139,649
  • Sep 15, 2016 6:40am Sep 15, 2016 6:40am
EU Forecast for today.....waiting
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  • #139,650
  • Sep 15, 2016 7:32am Sep 15, 2016 7:32am
On 4h we can see a triangle, possible volatile breakout, 70% are holding short positions, so we can assume that eurusd will head towads 1,1515
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  • #139,651
  • Sep 15, 2016 10:45am Sep 15, 2016 10:45am
Quoting TheOne1
On 4h we can see a triangle, possible volatile breakout, 70% are holding short positions, so we can assume that eurusd will head towads 1,1515 {image}
nice the one, always key to just know the market environment. These sideways markets tend to chew up accounts. To add here is what i'm watching for on the euro

https://www.james16group.us/wp/what-...-on-the-eurusd
  • #139,652
  • Sep 15, 2016 10:45am Sep 15, 2016 10:45am
Quoting mbqb11
I also like the idea of buying back the SP/DOW to the highs of yesterday, and then looking to sell again I just like the volatility either way though {image}

good pop now so it's good to cut some risk down when you can
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  • #139,653
  • Sep 15, 2016 3:29pm Sep 15, 2016 3:29pm
Quoting mbqb11
{quote} Looks good Mak! I took profit but it's still rolling. I got short instead on the nzd/cad {image}
And what you think about that daily outside bar at resistance ?
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  • #139,654
  • Sep 15, 2016 5:51pm Sep 15, 2016 5:51pm
Quoting Maklla
{quote} And what you think about that daily outside bar at resistance ? {image}

Hey Mak

I would be more interested when we can get closes above the PPZ marked on my chart

I think we have a few outsidebars that if we can get our orders picked up before price breaks the bars have good chances for their FTA. For example the aud/usd

Have a great friday folks

Mike
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  • #139,655
  • Sep 15, 2016 9:54pm Sep 15, 2016 9:54pm
Quoting mbqb11
{quote} Hey Mak I would be more interested when we can get closes above the PPZ marked on my chart I think we have a few outsidebars that if we can get our orders picked up before price breaks the bars have good chances for their FTA. For example the aud/usd Have a great friday folks Mike {image} {image}
once that retrace order is picked up if price can break the high of the PA bar I like to reduce my risk most times. This is the dynamic part of R:R to me. So my risk goes from 3% down to .86% and you still maintain the integrity of the trade
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  • #139,656
  • Sep 16, 2016 3:20am Sep 16, 2016 3:20am
Quoting mbqb11
{quote} once that retrace order is picked up if price can break the high of the PA bar I like to reduce my risk most times. This is the dynamic part of R:R to me. So my risk goes from 3% down to .86% and you still maintain the integrity of the trade {image}
Hi! I took some points from buying, and no I'm going another way. I love this game)))
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  • #139,657
  • Sep 16, 2016 7:06am Sep 16, 2016 7:06am
EU forecast for today.
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Do have a lovely weekend.
  • #139,658
  • Sep 16, 2016 9:16am Sep 16, 2016 9:16am
guys

Do you only trade DBLHC and DBHLC when they occur at known support and resistance?

thx
  • #139,659
  • Sep 16, 2016 10:49am Sep 16, 2016 10:49am
Quoting Kinder
{quote} Hi! I took some points from buying, and no I'm going another way. I love this game))) {image}

Excellent K looks like you are really knocking them down. I was looking for a bigger push higher so I got stopped out on this one

Enjoy the weekend
Mike
  • #139,660
  • Sep 16, 2016 10:49am Sep 16, 2016 10:49am
Quoting priceaction9
guys Do you only trade DBLHC and DBHLC when they occur at known support and resistance? thx
Hey PA

Not necessarily. Sometimes you can get a bar like that that is a trend changer(swing high low) with no S/R. I would say more times than not though you want to be trading around S/R

Best
Mike
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