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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

  • #6,941
  • Oct 11, 2007 7:31am Oct 11, 2007 7:31am
Quoting Wall_Street
Oh can anyone tell me how to save charts from this forum. Thanks

I think he meant he wants to save YOUR charts Mike

If so:
Just use file / save page as (or in IE it's called "Save as", you can also just press CTRL + S)... and then in the drop down box under the file type / name choose "webpage, complete" and it will not only save the page of the thread but the pictures as well.

You could also right click the image / the chart and choose "Save image as.." and save that.
Trust price. Know yourself.
  • #6,942
  • Oct 11, 2007 7:56am Oct 11, 2007 7:56am
Quoting SeekingLight
I think he meant he wants to save YOUR charts Mike

If so:
Just use file / save page as (or in IE it's called "Save as", you can also just press CTRL + S)... and then in the drop down box under the file type / name choose "webpage, complete" and it will not only save the page of the thread but the pictures as well.

You could also right click the image / the chart and choose "Save image as.." and save that.
lol whoops my bad. I tend to see keywords. Save, Picture, chart. And brain just fires off common asked questions lol!

My bad thanks SL
  • #6,943
  • Oct 11, 2007 8:00am Oct 11, 2007 8:00am
Quoting mbqb11
lol whoops my bad. I tend to see keywords. Save, Picture, chart. And brain just fires off common asked questions lol!

My bad thanks SL
Nice Pin, Pete's stops, I'm in????
  • #6,944
  • Oct 11, 2007 8:02am Oct 11, 2007 8:02am
Quoting PeterFM
Nice Pin, Pete's stops, I'm in????
LOL you almost hit them all
  • #6,945
  • Oct 11, 2007 9:06am Oct 11, 2007 9:06am
Analysis of the current 1HR EURGBP move
Attached Image (click to enlarge)
Click to Enlarge Name: josh.gif Size: 49 KB
  • #6,946
  • Oct 11, 2007 9:46am Oct 11, 2007 9:46am
Josh, with all due respect to all the founding fathers, this chart does belong to the Library of Congress. A classic interpretation of the price action in one chart.

Quoting JoshDance
Analysis of the current 1HR EURGBP move
  • #6,947
  • Oct 11, 2007 10:01am Oct 11, 2007 10:01am
Quoting milan47
Josh, with all due respect to all the founding fathers, this chart does belong to the Library of Congress. A classic interpretation of the price action in one chart.
Thank you milan, but it holds no candle compared with the setups Jim and the many other experienced traders here get into! I only hope I can pick out more of these types of action in the future (and be patient enough to wait for them!) by learning from these guys.
  • #6,948
  • Oct 11, 2007 10:03am Oct 11, 2007 10:03am
Quoting JoshDance
Analysis of the current 1HR EURGBP move
Josh, I had the same set-up also. I was looking more in the range of 6906 to 6885 for a bottom. And sure enough we got it. I really like the detail of your chart. I learn something new everyday. Also the EUR/GBP is the inverse of the GBP/CHF. This was another reason for me looking short on the GBP/CHF and long on EUR/GBP after they both finished out there retracements. Thanks Josh
Also I believe the Weekly and Monthly pivot points had numbers like 6913 and 6885. Something like that. Just going off memory because I am at work right now and don't have my trading info in front of me.
  • #6,949
  • Oct 11, 2007 11:32am Oct 11, 2007 11:32am
Quoting mbqb11
Here is a pair that might get people in trouble. They pull up a daily chart and say look a pinbar(get real excited, and emotion takes over). But to me bars like this are completely in traffic. Look at where we stalled and look at the steepness of the rising trendline. Price to me has a lot of pressure on it to bust down. Does this mean we won't see price move up and maybe continue towards the descending TL? I don't know. I am not a mind reader. But this is something I began to talk about in a video I did in the PF(also explain traffic bars better on video), about playing the failure of PBs. This is a case where I would consider playing a failure of this PB on the low side. I consider it more advanced in terms of PA trading that is taught here.


So hopefully this gives you an idea of how I begin to view things. Every trader is going to have their own views. And it is important to formulate your own and not be persuaded by others. Read, practice, test, learn, test, test repeat repeat. Soon things just become clear in there own way. Looking back on learning this stuff I can remember the times when things suddenly became more clear, then a bit more clear. As traders we are always growing and learning. Never ending process in my mind. But I believe eventually you do reach a place where you are simply DOing. The thinking is not there anymore. You have trained your brain to do all that work automatically. Instead you just act upon the information presented in a logical manner. You weigh the probabilities, and you place your trade. In the end this is a game of probabilities. Get them on your side, and money comes next. So many people feel the need to trade, and have trouble waiting b/c they may trade of the daily timeframes. And then something doesn't quite fit exactly to their plan. But they say, oh hell it is close enough. Place the trade, lose, and begin to dig a hole. I understand most people here have full time jobs, so they can't be tied to the screen. But, that is no excuse to take trades that don't fit into a sound logical plan. If it takes a month for a good trade to show up, then so be it. Remember what James says, treat this like a business!

Whoops rant! Sorrry I just woke up so thoughts are cluttered, might have to edit this again for clarity lol! I really hijacked this page haha

Take care
Mike
Thanks alot man for your posts today! I love the charts you put up and appreciate your demonstrating some of your methodology. By the way i took the usd/chf daily trade that you posted. I put in a pending buy stop on the break of the pin. The order did not trigger however. I don't find many pinbars on the daily so yes i do get excited when i see one. I was thinking at the time short term trend up supported by pinbar lets go! I never considered the steepness of the trendline.

I can hardly wait to get in the PF for more of this! By the way what does TBH stand for?
  • #6,950
  • Oct 11, 2007 11:38am Oct 11, 2007 11:38am
Quoting JoshDance
Analysis of the current 1HR EURGBP move
I appreciate the way you read the price action. I am going to save this chart some more of these charts when i get home. Excellent examples, thx for sharing.
  • #6,951
  • Oct 11, 2007 11:39am Oct 11, 2007 11:39am
Quoting saskgui
Thanks alot man for your posts today! I love the charts you put up and appreciate your demonstrating some of your methodology. By the way i took the usd/chf daily trade that you posted. I put in a pending buy stop on the break of the pin. The order did not trigger however. I don't find many pinbars on the daily so yes i do get excited when i see one. I was thinking at the time short term trend up supported by pinbar lets go! I never considered the steepness of the trendline.

I can hardly wait to get in the PF for more of this! By the way what does TBH stand for?
TBH is two bar high= continuation pattern in a trending market, so if your tbh is broken its a continuation of current trend up or down, depending where you find it...hope this helps, Raz
Never say never.
  • #6,952
  • Oct 12, 2007 1:32am Oct 12, 2007 1:32am
Hi all.. Here is a chart with me trying to compile my beginning of studies in the PF..

Any comments on that?

ps.
I managed to get the MT4 up and running. Thank's for the tip Vlazaf!
"""""""
http://www.northfinance.com/demo-account/

Hope this helps - FX and futures"
""""""""""""

pps.
Just realized.. there is no special confluence with anything else where I marked... just the fib 38....
Attached Image (click to enlarge)
Click to Enlarge Name: eur_1012.gif Size: 27 KB
  • #6,953
  • Oct 12, 2007 1:33am Oct 12, 2007 1:33am
Quoting oloman
Hi all.. Here is a chart with me trying to compile my beginning of studies in the PF..

Any comments on that?

ps.
I managed to get the MT4 up and running. Thank's for the tip Vlazaf!
"""""""
http://www.northfinance.com/demo-account/

Hope this helps - FX and futures"
""""""""""""
yes looks good keeping it nice and clean, and have the important areas marked. I like how you are boxing consolidation. I do similar

Keep it up
  • #6,954
  • Oct 12, 2007 2:02am Oct 12, 2007 2:02am
hey there - is it a good one...???


just wondering..
Attached Image
  • #6,955
  • Oct 12, 2007 2:06am Oct 12, 2007 2:06am
Quoting mamutot
hey there - is it a good one...???


just wondering..
  • #6,956
  • Oct 12, 2007 2:08am Oct 12, 2007 2:08am
Quoting mbqb11

yes, i know..

the thing is that it is on the 2nd charting i use -and i am not sure taking it in the real account i am trading with - i was expecting that somehow but it feels weird to take it there while not seeing that on my live account chart..

i know that i should only trade with what i see - but hey, thats awesome..

i was thinking to wait another signal in the live chart..

suggestions??

thanks
  • #6,957
  • Oct 12, 2007 2:11am Oct 12, 2007 2:11am
Quoting mbqb11
yes looks good keeping it nice and clean, and have the important areas marked. I like how you are boxing consolidation. I do similar

Keep it up
Thanks for that encouragement! It's not so hard to analyze the history of a price but it's a completely different story to look at the hard right edge with no further hints.. but I'll keep posting those tricky setups..
  • #6,958
  • Oct 12, 2007 2:12am Oct 12, 2007 2:12am
Quoting mamutot
yes, i know..

the thing is that it is on the 2nd charting i use -and i am not sure taking it in the real account i am trading with - i was expecting that somehow but it feels weird to take it there while not seeing that on my live account chart..

i know that i should only trade with what i see - but hey, thats awesome..

i was thinking to wait another signal in the live chart..

suggestions??

thanks
whatever rules you have set forth for yourself, follow it religiously. Have a plan and trade it. It sounds so simple, but it is so important. If rule one is to trade only off a certain broker charting, then follow rule one and never break it.
  • #6,959
  • Oct 12, 2007 2:14am Oct 12, 2007 2:14am
Quoting mbqb11
whatever rules you have set forth for yourself, follow it religiously. Have a plan and trade it. It sounds so simple, but it is so important. If rule one is to trade only off a certain broker charting, then follow rule one and never break it.

ok - fair enough

what if my rule is to trade out of both charts? is it ok? does anyone do it?

after all - there is only 1h difference between them, so it is a small delay that can show me the direction...

thanks
  • #6,960
  • Oct 12, 2007 2:15am Oct 12, 2007 2:15am
Quoting mamutot
ok - fair enough

what if my rule is to trade out of both charts? is it ok? does anyone do it?

after all - there is only 1h difference between them, so it is a small delay that can show me the direction...

thanks
sure I use two broker charting works for me. As long as you aren't chasing signals and following your plan I give it a thumbs up
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