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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

  • #121
  • Jun 26, 2005 12:59am Jun 26, 2005 12:59am
Quoting merlin
wow man i tip my hat to you. until you just told me that i didnt know anyone who traded more markets than me. and if i wasnt such a mechanical trader there is no way i would be able to trade a quarter of the markets i i trade now. you must dedicate a hell of a lot of time to this stuff jim! im inspired!

Hi Merlin

I've been reading on mechanical trading systems by Wayne Krautkramer,

http://www.bearmarketcentral.com/mechanicals-pf.htm

and wondered if you would share your ideas on what you advise re mechanical trading. Do you agree with his ideas?

Trinity
  • #122
  • Jun 26, 2005 2:54pm Jun 26, 2005 2:54pm
Hi all.
I would just like to say how much I am enjoying reading this thread and how much I feel to be gaining from the information in it. Thanks james16 for the time you put into this with the chatrs and explanations I am enjoying reading it all.
Jon.
  • #123
  • Jun 27, 2005 2:18pm Jun 27, 2005 2:18pm
new chart
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  • #124
  • Jun 27, 2005 9:12pm Jun 27, 2005 9:12pm
Jim, thank you for all the info you are providing here. I have one question for you on the DHLC and DLHC. If I want to wait for the 50% ret. before I enter, how many periods would you consider the double still good? IE If I get a double high lower close and then it takes 4 periods to get the ret., is that still viable? Hopefully I have been clear enough that you know what I'm talking about.

Thanks in advance,

Rob
  • #125
  • Jun 27, 2005 10:01pm Jun 27, 2005 10:01pm
Quoting RBing
Jim, thank you for all the info you are providing here. I have one question for you on the DHLC and DLHC. If I want to wait for the 50% ret. before I enter, how many periods would you consider the double still good? IE If I get a double high lower close and then it takes 4 periods to get the ret., is that still viable? Hopefully I have been clear enough that you know what I'm talking about.

Thanks in advance,

Rob
usually i only take these set ups at swing highs or lows with fib ret and hopefully fib ret confluence. my experience for the most part has been that if you choose the best set ups, those just described, that about half the time the next bar will ret to the 38 and/or just take off. if it is a grade A set up it will most likely be the very next bar that will return to 50 or not at all. if the 50 was retraced on a third or fourth bar i might be wondering if the trend was reversing. i like taking the fifty on the next bar or nothing. i also am afraid of very long second bars which leave me with a large initial stop. play the set ups where the two bars are no more than 2 or 3 ticks apart on a daily chart, exactly the same or one tick difference on smaller time frames. check your fib ret with hopefully some confluence. make sure you are at a swing high or low. enter at the 50. put your stop above or below the last bar of the set up. take profit soon and then move any remaing to breakeven. if you are diciplined to wait for just the right set up you will win most of the time. if you want to enter on the 38 or even on the close of the set up be prepared for a larger stop and potentially a larger loss. hope that helps. jim
  • #126
  • Jun 28, 2005 7:36am Jun 28, 2005 7:36am
Hi Jim, It looks to me like the usd/jpy on a daily chart has just hit the 50% retracment. If it come back down off it I would think that would be a good entry? My only problem with it is I have nothing to confirm the reversal. Would it be advisable to wait for a hourly or 15 minute or something else to confirm it?Or am I just wrong on the whole thing?

Thanks again for you insights.

pipmon
LETS PLAY HOCKEY!
  • #127
  • Jun 28, 2005 8:54am Jun 28, 2005 8:54am
Quoting pipmonster
Hi Jim, It looks to me like the usd/jpy on a daily chart has just hit the 50% retracment. If it come back down off it I would think that would be a good entry? My only problem with it is I have nothing to confirm the reversal. Would it be advisable to wait for a hourly or 15 minute or something else to confirm it?Or am I just wrong on the whole thing?

Thanks again for you insights.

pipmon
Hi Pipmonster, could you post your chart for me please?
Steven
  • #128
  • Jun 28, 2005 9:19am Jun 28, 2005 9:19am
Hi Steven, I would if I could, but I don't know how. What I was looking at was the high on May 14, low on Jan 17. On my charts the fibro comes to 109.85. Hope that helps.

Pipmon
LETS PLAY HOCKEY!
  • #129
  • Jun 28, 2005 10:08am Jun 28, 2005 10:08am
Quoting pipmonster
Hi Jim, It looks to me like the usd/jpy on a daily chart has just hit the 50% retracment. If it come back down off it I would think that would be a good entry? My only problem with it is I have nothing to confirm the reversal. Would it be advisable to wait for a hourly or 15 minute or something else to confirm it?Or am I just wrong on the whole thing?

Thanks again for you insights.

pipmon
new chart
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  • #130
  • Jun 28, 2005 10:25am Jun 28, 2005 10:25am
new chart
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  • #131
  • Jun 28, 2005 10:50am Jun 28, 2005 10:50am
Thanks Jim, things are starting to make sense. Keep up all the ideas!
LETS PLAY HOCKEY!
  • #132
  • Jun 28, 2005 3:02pm Jun 28, 2005 3:02pm
new chart
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  • #133
  • Jun 28, 2005 4:19pm Jun 28, 2005 4:19pm
new chart
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  • #134
  • Jun 29, 2005 10:18am Jun 29, 2005 10:18am
taking a little 4th of july trip to southeast kansas to my wifes grandparents farm in the boonies. 2 stock ponds full of bass and i have caught them all at least twice over the years. complete solitude and a place to fish, dont get any better at least for me. be back tuesday. with tears in my eyes i wish to thank those who serve and have fallen so i can live free. jim
  • #135
  • Jun 29, 2005 4:09pm Jun 29, 2005 4:09pm
Quoting james16
taking a little 4th of july trip to southeast kansas to my wifes grandparents farm in the boonies. 2 stock ponds full of bass and i have caught them all at least twice over the years. complete solitude and a place to fish, dont get any better at least for me. be back tuesday. with tears in my eyes i wish to thank those who serve and have fallen so i can live free. jim
sounds like a nice relaxing trip jim. have a good time. we will miss you until then.
Relax and be happy.
  • #136
  • Jul 3, 2005 5:27pm Jul 3, 2005 5:27pm
Quoting james16
New Chart
Hi Jim,

I have been following your wonderful chart posts! How are you positioned now with Eur/Usd at 1.9000? Do you think it will break down to the important 1.7000 level you pointed out?

Thanks for the lessons
  • #137
  • Jul 7, 2005 1:40am Jul 7, 2005 1:40am
Hi, James.


I was chatting with a fellow on another forum about time and forex, when he
introduced me to his way of charting using ellipses.

I tried to follow along but I have not been successful at generating a chart that looked close enough to his to do a trade with.

But I watched and listened to him for about two months and it was utterly astounding what and when he could predict with his charts.

Anyway, another fellow ( phydeaux ) put as much information as he could together about his methods.

If you have a chance, You can check this out yourself and maybe you could make it easier to understand for us that are not as advanced at charts.

His comments are a little hard to understand because his's native language is spanish.

http://stoxx.homeip.net/stoxxFiles/

Hope this can help us all as much as it has him.

He claimed 99.5 % accuracy with only one loss in a 6 month period and backed it up with screen shots of his ellipses and trading account statement to prove it..

William
Warning, lack of trading is dangerous to your survival......
  • #138
  • Jul 7, 2005 2:25am Jul 7, 2005 2:25am
Quoting william5
Hi, James.


I was chatting with a fellow on another forum about time and forex, when he
introduced me to his way of charting using ellipses.

I tried to follow along but I have not been successful at generating a chart that looked close enough to his to do a trade with.

But I watched and listened to him for about two months and it was utterly astounding what and when he could predict with his charts.

Anyway, another fellow ( phydeaux ) put as much information as he could together about his methods.

If you have a chance, You can check this out yourself and maybe you could make it easier to understand for us that are not as advanced at charts.

His comments are a little hard to understand because his's native language is spanish.

http://stoxx.homeip.net/stoxxFiles/

Hope this can help us all as much as it has him.

He claimed 99.5 % accuracy with only one loss in a 6 month period and backed it up with screen shots of his ellipses and trading account statement to prove it..

William
would merlin or fiji please take a look at this and try to tell me what i am looking at. i could swear i saw a pentagram and it scared the hell out of me, no pun intended. i have heard of market geometry and even wave ellipses but nothing like this. i plan to trade full time for the next week or so but i will be around.
  • #139
  • Jul 7, 2005 2:27am Jul 7, 2005 2:27am
Quoting seleana
Hi Jim,

I have been following your wonderful chart posts! How are you positioned now with Eur/Usd at 1.9000? Do you think it will break down to the important 1.7000 level you pointed out?

Thanks for the lessons
sorry seleana, i just saw your post. i will take a look.
  • #140
  • Jul 7, 2005 7:00am Jul 7, 2005 7:00am
Hi Jim, I was looking at a daily chart on the eur/usd this morning and saw what looks like it could be pinochio pattern. Would you concur? If so where would be the entry point.
Thanks, Pipmon
LETS PLAY HOCKEY!
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