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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

  • #8,961
  • Jan 31, 2008 4:38am Jan 31, 2008 4:38am
Quoting Mr Trend
Jeffrey.... are you on the marijuana?
Hey Mr.T. ...... i think that instead of marijuana ... (500 s/r LINES ?) here we are talking about a guy who is a long white line addict ...

(no offense SL ... just joking!)

However does anyone have thoughts on the next two charts ......
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  • #8,962
  • Jan 31, 2008 5:06am Jan 31, 2008 5:06am
Quoting giusepp8
Hey Mr.T. ...... i think that instead of marijuana ... (500 s/r LINES ?) here we are talking about a guy who is a long white line addict ...

(no offense SL ... just joking!)

However does anyone have thoughts on the next two charts ......

Me! Been having thoughts on this one since the first daily outside bar
Also posted that and the monthly outlook over on the J16 site in the GBPUSD discussion thread...it's something I am watching closely..(it's also / was also basically the same thing that occured on USDCAD just the other way around...but things are shifting now..)

I have to say I don't smoke and instead of coke I have moved on to Pepsi!
Wait..I can't say that, I don't even get paid from them
I'm at LEAST as skanky as Titney after the amount of charts I've mooched through!
I need to renegotiate mah dealio!
Trust price. Know yourself.
  • #8,963
  • Jan 31, 2008 5:44am Jan 31, 2008 5:44am
Quoting SeekingLight
Actually I play drums, so I can do the tummy-rub-and-head-patting-type of stuff no prob while talking about current events
LOL . What about the Circle Drawing Thing?....

Can you draw a clockwise circle in the air at speed with your right foot, while drawing an anti-clockwise circle with your right hand??
Bundy's status today: "Waiting..."
  • #8,964
  • Jan 31, 2008 6:43am Jan 31, 2008 6:43am
Quoting bundyraider
LOL . What about the Circle Drawing Thing?....

Can you draw a clockwise circle in the air at speed with your right foot, while drawing an anti-clockwise circle with your right hand??
Yea, (just tried) but I don't last long, it appears the upper leg muscle required to do this isn't exactly highly trained here

I realized you need to really focus on the leg/foot, the hand is rather simple to task on "just do a circle" => tons more practice in co-ordination I suspect.

Great, now I feel like a really shoddily connected circuit board
Trust price. Know yourself.
  • #8,965
  • Jan 31, 2008 8:47am Jan 31, 2008 8:47am
Quoting SeekingLight
Hey findcount

You might also consider doing what I do, simply use MT4 for the charting and trade on Oanda. You don't miss out on anything and you have a charting software actually worth calling it that

Take care,

SL
many thanks to MBQB11 and Seeking Light...........

so i guess you win some and you lose some, anyway there's no 'standard' charts around, right ? even different MT4 brokers have different closing times............

i'm trying with Alpari for their 4hr charts since almost everyone seems to say Oanda's 3hr charts are totally useless.......

many thanks again.
  • #8,966
  • Jan 31, 2008 10:38am Jan 31, 2008 10:38am
Quoting bundyraider
LOL . What about the Circle Drawing Thing?....

Can you draw a clockwise circle in the air at speed with your right foot, while drawing an anti-clockwise circle with your right hand??

LOL just tried that. There is no way I can do it. Just impossible.
  • #8,967
  • Jan 31, 2008 2:05pm Jan 31, 2008 2:05pm
Quoting findcount
many thanks to MBQB11 and Seeking Light...........

so i guess you win some and you lose some, anyway there's no 'standard' charts around, right ? even different MT4 brokers have different closing times............

i'm trying with Alpari for their 4hr charts since almost everyone seems to say Oanda's 3hr charts are totally useless.......

many thanks again.
yeah there really is no standard. Some will say that having a closing bar at 5pm est is the unofficial standard (since this is when NY session ends). I find some validity in that, but in the end the charts are the charts, and price is price.

If you want to use the same broker charts as James then use InterbankFX. If you want a close of 5pm est bar. Use North Finance. Or really just find what is most comfortable for you
  • #8,968
  • Jan 31, 2008 3:45pm Jan 31, 2008 3:45pm
Quoting mbqb11
yeah there really is no standard. Some will say that having a closing bar at 5pm est is the unofficial standard (since this is when NY session ends). I find some validity in that, but in the end the charts are the charts, and price is price.

If you want to use the same broker charts as James then use InterbankFX. If you want a close of 5pm est bar. Use North Finance. Or really just find what is most comfortable for you
It doesn't matter. Don't get caught up in the "right timeframe"... just trade what you see.
Mr. Trend
  • #8,969
  • Jan 31, 2008 4:14pm Jan 31, 2008 4:14pm
Quoting findcount
many thanks to MBQB11 and Seeking Light...........

so i guess you win some and you lose some, anyway there's no 'standard' charts around, right ? even different MT4 brokers have different closing times............

i'm trying with Alpari for their 4hr charts since almost everyone seems to say Oanda's 3hr charts are totally useless.......

many thanks again.
Findcount,

In agreement with Mike and the Trendster...

Just trade it! (Hey, we need a Nike logo made out of a Bar chart! )

I've never had any issue with trading price bars through different brokers.
I use Accucharts (FXSol, Gain Capitals Charts, InterbankFX and backtested with Alparis MT4. I now even have an IgMarkets charting feed. I trade what I see and don't have a problem at all when trading pins, double tops/bottoms, outside bars and whatever. Just trade what you see.

If you keep practicing, over time you'll learn to see multi-bar versions (equivilents) really well anyway.

The main issue I have with the different charting choices are the different extremes sometimes (high for the day, etc), but it rarely effects how tradable 'what you see' is. Along with different daily close,it plays havok with daily pivots sometimes , but you can do them manually in about a minute anyway!

,B
Bundy's status today: "Waiting..."
  • #8,970
  • Jan 31, 2008 4:23pm Jan 31, 2008 4:23pm
Quoting creeper
LOL just tried that. There is no way I can do it. Just impossible.
...and Seeks..

LOL . A actually GOT THIS WRONG!!

The test is...

While sitting at your desk, Lift your right foot off the floor
and make clockwise circles.
Whilst doing this Draw the number 6 in the air with your right hand.
Your foot will change direction and theres
nothing you can do about it. :

Actually, I'm going to post this in the relevent section too. LOL
...WITH a poll. LOL
Bundy's status today: "Waiting..."
  • #8,971
  • Jan 31, 2008 6:21pm Jan 31, 2008 6:21pm
Quoting bundyraider
...and Seeks..

LOL . A actually GOT THIS WRONG!!

The test is...

While sitting at your desk, Lift your right foot off the floor
and make clockwise circles.
Whilst doing this Draw the number 6 in the air with your right hand.
Your foot will change direction and theres
nothing you can do about it. :

Actually, I'm going to post this in the relevent section too. LOL
...WITH a poll. LOL
Nah, you can do that, too, it's just tricky when you reverse the right hand for the "closing" of the 6. Tried it as well. Maybe I'm doing it wrong. I assume I am allowed to stop after drawing the 6 before drawing a new one?
But the first few times sure looked funny again, same as last time..takes a short while

I think you can move all limbs completely independently if you just practice long enough and if you haven't "fused shut" completely yet
I still can't play open/territorial rights

I agree on the feeds stuff.


N8
Trust price. Know yourself.
  • #8,972
  • Jan 31, 2008 6:33pm Jan 31, 2008 6:33pm
Quoting SeekingLight
Nah, you can do that, too, it's just tricky
I reckon if anyone can do it, a drummer can!

It's funny now. I've had a few goes at the 6 thing and today, after a bit of playing, I can do it.
Not one of us could do it when I first heard of it. There was a good dozen of us there too. lol (No, not drinking! : )

On topic :

We now officially have our Monthly Pin on Cable. Looking good...
Attached Image
Bundy's status today: "Waiting..."
  • #8,973
  • Jan 31, 2008 9:34pm Jan 31, 2008 9:34pm
Quoting bundyraider
On topic :

We now officially have our Monthly Pin on Cable. Looking good...
How do you trade that pin ? I mean how many pips on top of the pin would you place an entry? It's 600 pips long. Or would you wait to enter on a retrace between 61.8 or .50 fib ?
I think is difficult to trade the longer time charts.
The more obstacles I overcome the better man I become.
  • #8,974
  • Jan 31, 2008 10:38pm Jan 31, 2008 10:38pm
Quoting sevejose
How do you trade that pin ? I mean how many pips on top of the pin would you place an entry? It's 600 pips long. Or would you wait to enter on a retrace between 61.8 or .50 fib ?
I think is difficult to trade the longer time charts.
So set your stop 600 pips...
Mr. Trend
  • #8,975
  • Jan 31, 2008 11:12pm Jan 31, 2008 11:12pm
Quoting Mr Trend
So set your stop 600 pips...
I like to know how to trade those big pins. I get stoped out every time for setting stops too close.
The more obstacles I overcome the better man I become.
  • #8,976
  • Jan 31, 2008 11:46pm Jan 31, 2008 11:46pm
Quoting sevejose
I like to know how to trade those big pins. I get stoped out every time for setting stops too close.
what he means is you treat a monthly pinbar the same as any other timeframe. So that means placing your stop at the bottom of the pin and entering on a break. Yes your stop will be 600 pts, but all that means is that you adjust your position size, everything else is relative. Some people may just choose to use that pinbar to give them direction and move to the daily or weekly, that is a matter of preference.



M
  • #8,977
  • Feb 1, 2008 3:51am Feb 1, 2008 3:51am
Quoting bundyraider
Findcount,

In agreement with Mike and the Trendster...

Just trade it! (Hey, we need a Nike logo made out of a Bar chart! )

I've never had any issue with trading price bars through different brokers.
I use Accucharts (FXSol, Gain Capitals Charts, InterbankFX and backtested with Alparis MT4. I now even have an IgMarkets charting feed. I trade what I see and don't have a problem at all when trading pins, double tops/bottoms, outside bars and whatever. Just trade what you see.

If you keep practicing, over time you'll learn to see multi-bar versions (equivilents) really well anyway.

The main issue I have with the different charting choices are the different extremes sometimes (high for the day, etc), but it rarely effects how tradable 'what you see' is. Along with different daily close,it plays havok with daily pivots sometimes , but you can do them manually in about a minute anyway!

,B

many thanks for the good advice and be well.........
  • #8,978
  • Feb 1, 2008 7:20am Feb 1, 2008 7:20am
Quoting mbqb11
what he means is you treat a monthly pinbar the same as any other timeframe. So that means placing your stop at the bottom of the pin and entering on a break. Yes your stop will be 600 pts, but all that means is that you adjust your position size, everything else is relative. Some people may just choose to use that pinbar to give them direction and move to the daily or weekly, that is a matter of preference.



M

tks Mike.
On a pin like that how many pips over the top will be consider a good entry point. Is it also like 10 or 20? or is it relative to the size of the pin?
The more obstacles I overcome the better man I become.
  • #8,979
  • Feb 1, 2008 11:22am Feb 1, 2008 11:22am
Quoting raczekfx
who knows, who knows Tiki.....
I'd like to see 209 and ... beyond. Only time will tell.
Patience 'almost' always is generous...
Attached Image
  • #8,980
  • Feb 1, 2008 11:34am Feb 1, 2008 11:34am
Quoting raczekfx
Patience 'almost' always is generous...
And on the GBP subject and forecasting fun...

I didn't realize my chart arrows would become such price magnets...look what I accidently did to GBPUSD

I didn't mean to!

(broke trendline => arrow bit before and after the update today..)

It COMPLETELY creeps me out that I got it right to the very day(the point at which GBPUSD would return to retest the channel).
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Trust price. Know yourself.
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