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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

  • #139,781
  • Oct 21, 2016 8:22am Oct 21, 2016 8:22am
Quoting mbqb11
{quote} gone ahead and closed this down now at the lows. Hopefully this helped you guys learn how to manage your trades a bit better Have a fantastic friday and I promise to come back later and answer some of those questions Mike {image}
I walked through this trade here but I also wanted to show you how you can plan this ahead of time. I did a recent video on the usd/mxn which is on the youtube channel, here was the same walkthrough in this weeks webinar

Inserted Video
  • #139,782
  • Oct 21, 2016 8:45am Oct 21, 2016 8:45am
Quoting mbqb11
{quote} I walked through this trade here but I also wanted to show you how you can plan this ahead of time. I did a recent video on the usd/mxn which is on the youtube channel, here was the same walkthrough in this weeks webinar https://www.youtube.com/watch?v=mrxZ2SlnkkA
Very nice video mate!
thinking outside the box
  • #139,783
  • Oct 21, 2016 10:18am Oct 21, 2016 10:18am
Quoting mbqb11
{quote} gone ahead and closed this down now at the lows. Hopefully this helped you guys learn how to manage your trades a bit better Have a fantastic friday and I promise to come back later and answer some of those questions Mike {image}
This one was really nice. Congrats to your double win


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Another one, still opened - NZD/USD, D1 BEOB, SL at BE.

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Have a nice weekend,

James
  • #139,784
  • Oct 22, 2016 5:16am Oct 22, 2016 5:16am
Potential stock setup
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  • #139,785
  • Oct 23, 2016 1:53am Oct 23, 2016 1:53am
Quoting mbqb11
{quote} I walked through this trade here but I also wanted to show you how you can plan this ahead of time. I did a recent video on the usd/mxn which is on the youtube channel, here was the same walkthrough in this weeks webinar https://www.youtube.com/watch?v=mrxZ2SlnkkA

great vid mate
  • #139,786
  • Oct 23, 2016 8:50am Oct 23, 2016 8:50am
Hey guys , I've been lurking for a long time and reading , going to start my own journal soon but focus on weekly charts of equities , what do you guys think of equities vs forex?

I find forex is nice at times but limiting yourself to a few pairs can be a pain when there are thousands of stocks to choose nice trending setups .

Irish
  • #139,787
  • Oct 23, 2016 2:22pm Oct 23, 2016 2:22pm
Quoting TGpop
Potential stock setup {image}
if i "need to trade" that stock i would trade only the retrace to s/r flip

a better stock setup i consider ALKS BOUB close above the PPZ; targeting the midpoint of the box- 65 area

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  • #139,788
  • Oct 23, 2016 5:21pm Oct 23, 2016 5:21pm
Looks like a classic breakout and retest on BCLN with a pin bar at support , any thoughts ?
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  • #139,789
  • Oct 23, 2016 6:43pm Oct 23, 2016 6:43pm
Quoting Ir1sh
Looks like a classic breakout and retest on BCLN with a pin bar at support , any thoughts ? {image}
your chart is great irish. I always want to be a buyer/seller around that most critical area. So in this case the pinbar closed real high up into the previous swing high. So if I was to be a buyer I want it to be close to the white pivot box. This might be hard if price doesn't retrace right away. If it breaks the high of the pinbar and tests that swing high I wouldn't want to be a buyer. I'd rather see what price does again at the white pivot. If it closes under the low of that pinbar that's a very strong sell sign.

But it's a great and clean chart you posted and that's my favorite

Mike
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  • #139,790
  • Oct 24, 2016 3:33am Oct 24, 2016 3:33am
appreciate the response Mike . I've only really been reading the first few hundred pages of the thread and your approach seems like a slight modification (albeit a clever one ) of the original material , am I correct in that sense ?

in the BCLN chart, if I took that pin bar long but watched very closely how price tested the swing high (and cut it if we failed to
push through) would that be a bad trading decision in your book ? I'm just trying to trade pins on breakouts and then close the trade quickly if it bounces off the fta
  • #139,791
  • Oct 24, 2016 7:13am Oct 24, 2016 7:13am
Quoting Ir1sh
Looks like a classic breakout and retest on BCLN with a pin bar at support , any thoughts ? {image}
BCLN? what does it stand for?
  • #139,792
  • Oct 24, 2016 12:15pm Oct 24, 2016 12:15pm
Quoting priceaction9
{quote} BCLN? what does it stand for?
Hey man , that's the stock ticker (my bad it's actually BNCL)
  • #139,793
  • Oct 24, 2016 1:45pm Oct 24, 2016 1:45pm
here was a quick trade I took on the usd/try yesterday and posted on my twitter

This is a bit of a different take on the pinbar that I haven't touched much on this thread in particular but on the site.

I like when you get a pinbar followed by a breakaway bar. Or a high momentum strong closing bars. If the pinbar breakaway area lines up with a confluenced area it's great to play on a retrace back tot his area.

I sold the pullback to this area and former swing high.
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Closed it today near the first trouble area
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have a great week !
Mike
  • #139,794
  • Oct 25, 2016 10:29am Oct 25, 2016 10:29am
for those who watch some future markets

this is a great confluenced area to focus in on. For now, we are range bound but markets love to drive to these important areas. So the boundary of this pattern is great. My favorite is the top area because you have the convergence of two major areas

Most people struggle within the tighter part of the range because the market can be choppy and even if you have an idea of direction it's hard to MANAGE that idea. If that is you move your focus to the boundary of your patterns

Mike
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  • #139,795
  • Oct 25, 2016 4:08pm Oct 25, 2016 4:08pm
Quoting Jsbs
{quote} This one was really nice. Congrats to your double win {image} Another one, still opened - NZD/USD, D1 BEOB, SL at BE. {image} Have a nice weekend, James
NZD/USD - closed above 0.7100 BRN

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Great week,
James
  • #139,796
  • Edited 5:10pm Oct 25, 2016 4:27pm | Edited 5:10pm
USDJPY Daily Chart.

PB forming at PPZ and 150 EMA, also 365 EMA area on HT ( Weekly).
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  • #139,797
  • Oct 26, 2016 5:28am Oct 26, 2016 5:28am
Quoting george359
USDJPY Daily Chart. PB forming at PPZ and 150 EMA, also 365 EMA area on HT ( Weekly). {image}
Hi george,

I would rather be carefull about this pin bar. The PPZ is quite broad and the pin is inside the zone. Another thing is, that a BRN 104.00 is right under the pin.
But it is just my opinion.

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I took USD/CHF D1 pin. It formed as a false breakout of a nice and quite accurate resistance after reaching 1.0000 BRN.

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James
  • #139,798
  • Oct 26, 2016 11:55am Oct 26, 2016 11:55am
Hi James,

"I would rather be carefull about this pin bar. The PPZ is quite broad and the pin is inside the zone. Another thing is, that a BRN 104.00 is right under the pin.
But it is just my opinion." - fully agree with your point, better wait for more PA in that area.

Well spotted that PB on USDCHF, let's see how it treats the 0.9900 - 0.9850 levels.

George
  • #139,799
  • Oct 26, 2016 2:25pm Oct 26, 2016 2:25pm
Quoting george359
Hi James, "I would rather be carefull about this pin bar. The PPZ is quite broad and the pin is inside the zone. Another thing is, that a BRN 104.00 is right under the pin. But it is just my opinion." - fully agree with your point, better wait for more PA in that area. Well spotted that PB on USDCHF, let's see how it treats the 0.9900 - 0.9850 levels. George

spot on George. That .9900 area is a major FTA and really a great target for that usd/chf. James played it PERFECT by selling the retrace. That's the ONLy way that bar should/can be played in my book

Good job guys
Mike
  • #139,800
  • Oct 26, 2016 2:27pm Oct 26, 2016 2:27pm
Today's twitter trade @mbqb11

Buying the false breakout potential on SP500 mini. We have an open gap over night on both the dow and sp futures. Great to look for targets and bias that way

We had 5 min exhaustion bars occurring into the pattern. Bought there
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Closed just above the gap
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