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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

  • #9,681
  • Mar 24, 2008 5:41pm Mar 24, 2008 5:41pm
Quoting james16
ahh the great swami.

im printing. at the least it will be a colorful trip to the bathroom. lol.

jim
Ahhhh.... Good of ya to drop in man!

How's that PF going? Hearing good things.

Your baby's about to hit 10000 posts dude. How's it feel?

,B
Bundy's status today: "Waiting..."
  • #9,682
  • Mar 24, 2008 6:26pm Mar 24, 2008 6:26pm
Quoting james16
its amazing how "THINGS START TO WORK" when you look at them again on a longer time frame. trading inside bars are old hat and have been for longer than most of you reading this have been alive. i wonder how many other simple approaches that seem too basic for todays trader might also be a key to success if applied to longer time frames?
there are a million ways to trade and the best ones dont make your charts look like a 5 year old with a box of crayons. lol.

good post wern.

has anyone else had there entire house wiped out with the flu this year or am i riding this alone?
I hope I can get to that stage of trading sooner than later and sorry to hear about your flu. Try to load up on cranberry juice all day long or put a couple of drops of 3% hydrogen peroxide into your ears for 10-15 minutes, it helps by clearing out the flue faster...
  • #9,683
  • Mar 24, 2008 7:51pm Mar 24, 2008 7:51pm
Quoting james16
its amazing how "THINGS START TO WORK" when you look at them again on a longer time frame. trading inside bars are old hat and have been for longer than most of you reading this have been alive. i wonder how many other simple approaches that seem too basic for todays trader might also be a key to success if applied to longer time frames?
there are a million ways to trade and the best ones dont make your charts look like a 5 year old with a box of crayons. lol.

good post wern.

has anyone else had there entire house wiped out with the flu this year or am i riding this alone?
Nope, your not alone there (flu) we get , get over it snd the kids back to school so they can bring home again lol
  • #9,684
  • Mar 24, 2008 8:23pm Mar 24, 2008 8:23pm
Quoting wernbrenk
Hi guys,

Like you all know I'm still working through the thread, but while doing that and analysing my charts I have come accross something which I would like you all to verify if you could.

This is a setup taught by Mr Tom DeMark, which I never thought worked until I started testing it on the Daily TF's.

Please have a look and discuss.

Regards

Werner
Notice that when Price Action agrees with the trend, the higher the probability of the trade becomes. Meaning: Bearish Price Action in a down trend. Bullish Price Action in an Up trend. Taking breaks of the Bottoms of Inside Bar in a down trend only and Tops in an Up trend only.

Pin Bars must not be ignored, as they are powerful reversal (trend) formations.
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Indicators show the past. Price Action "Indicates" the future.
  • #9,685
  • Mar 24, 2008 8:27pm Mar 24, 2008 8:27pm
Quoting james16
its amazing how "THINGS START TO WORK" when you look at them again on a longer time frame.
there are a million ways to trade and the best ones dont make your charts look like a 5 year old with a box of crayons. lol.

good post wern.
Indicators show the past. Price Action "Indicates" the future.
  • #9,686
  • Mar 24, 2008 8:31pm Mar 24, 2008 8:31pm
Quoting Swami S
Fresh jiuce everyday if you can. The whole family in one hit.
Carrot apple base then go veg, greens, beets whatever you like or go full friut
ginger for those who will.


Colloidal silver for bacterial infections, digestive esp, also great for tooth abcesses and the like.

Bitter herbs if a cold or flu wont shift. boneset/yarrow
Elderflower if its light.

All the best
SS
A couple drops of THIS per glass of water/day and you will never know what flue feels like. My entire family has been using it for last few years with great results. You can even buy it at Walmart for $20, I think...

Discl: it tastes awful.
  • #9,687
  • Mar 24, 2008 11:30pm Mar 24, 2008 11:30pm
It looks like eur/usd could be heading back up...


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skype: ststroud. let's talk trading.
  • #9,688
  • Mar 25, 2008 2:43am Mar 25, 2008 2:43am
let`s say we have a `bullish` daily pin bar. how many days can it go sideways before breaking the high point?
ie G/U a few days ago made a nice daily pin at confluence area (61.8 fib) and then market was slow. If it breaks the daily pin today(after ~3 days) is it still a valid pin?
  • #9,689
  • Mar 25, 2008 3:23am Mar 25, 2008 3:23am
Quoting mihali
let`s say we have a `bullish` daily pin bar. how many days can it go sideways before breaking the high point?
ie G/U a few days ago made a nice daily pin at confluence area (61.8 fib) and then market was slow. If it breaks the daily pin today(after ~3 days) is it still a valid pin?
Hi Mihali,

It's still a valid pin. It still represents the same information, that long players overcame short players at that point strongly.

A pin often represents resistance and support at it's highs and lows. SO a break is still a break and has signifance.

For the current chart , if you look at your daily chart again, yesterdays bar was a Bullish Outside Bar. That's good to see.
And it's always good to see a failure to match the previous low created by the pin, like we've seen.

If it had taken one more day to break I'd be wondering about wether we are only consolidating. Probabilities start withering the wrong way and you are better off waiting for the next occurance/oppurtunity.

, Bundy
Bundy's status today: "Waiting..."
  • #9,690
  • Mar 25, 2008 5:15am Mar 25, 2008 5:15am
Quoting tyler812
It looks like eur/usd could be heading back up...


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Tyler it seems that you draw the Fib the wrong way around. The 100% should be on the low and not on the high. i.e start drawing the Fib from the low
  • #9,691
  • Mar 25, 2008 1:34pm Mar 25, 2008 1:34pm
Quote
Tyler it seems that you draw the Fib the wrong way around. The 100% should be on the low and not on the high. i.e start drawing the Fib from the low

yeah, you're the second person to tell me that (thanks, btw) I guess I need to break that habit. Of course, I suppose there are worse things I could be doing wrong......
skype: ststroud. let's talk trading.
  • #9,692
  • Mar 25, 2008 1:37pm Mar 25, 2008 1:37pm
Quoting rob4u
look at these nice Pinbars (marked with a red star), all the ones penetrating a fib-line have been working very good and the ones not close to a fib-line not so good. Wonder if the last one is going to be a good trade too ? It's sure looks like it's gonna ;-)
Thanks Jim, James16


Best, Robin
yea it's a great one;-)
  • #9,693
  • Mar 26, 2008 12:52pm Mar 26, 2008 12:52pm
Quoting tyler812
It looks like eur/usd could be heading back up...


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hope u took that trade;-)
  • #9,694
  • Mar 26, 2008 4:31pm Mar 26, 2008 4:31pm
I would like to ask you what do you think about these 2 weekly PBs? The price moved above their respective highs but apparently its heading down again. Any advices?
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We leave no soldier behind.
  • #9,695
  • Mar 26, 2008 4:32pm Mar 26, 2008 4:32pm
can we consider this as a DBHLC even if the highs are not equal, but it formed right at a down sloping TL?
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We leave no soldier behind.
  • #9,696
  • Mar 26, 2008 4:35pm Mar 26, 2008 4:35pm
Quoting gagiul
can we consider this as a DBHLC even if the highs are not equal, but it formed right at a down sloping TL?
Nope in order for it to be a DBHLC the highs should be equal or within a few pips depending on the timeframe

In answer to your last question yes those are pinbars, and of course they are against very strong trends. They haven't failed yet, but if they do nothing you can do about it. It is all about getting the probabilities in our favor, and just make sure to use proper MM

Have a good one

Mike
  • #9,697
  • Mar 27, 2008 2:52pm Mar 27, 2008 2:52pm
what do you guys think about this daily pin? I think it worth taking it.
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  • #9,698
  • Mar 27, 2008 3:36pm Mar 27, 2008 3:36pm
Quoting mihali
what do you guys think about this daily pin? I think it worth taking it.
I will take it. Sell order at 2.0010.
We leave no soldier behind.
  • #9,699
  • Mar 27, 2008 3:57pm Mar 27, 2008 3:57pm
Quoting mihali
what do you guys think about this daily pin? I think it worth taking it.
A nice one; off PPZ/TL/61fib confluence
Let's see how it plays out. I added few areas for you to watch, if you take it.
.
ps. No definite PA on fiber to indicate short, but watch it very, very closely (good r/r???.....
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  • #9,700
  • Mar 27, 2008 4:59pm Mar 27, 2008 4:59pm
Quoting mihali
what do you guys think about this daily pin? I think it worth taking it.
the nose is penetrating 61.8 fib since last little fall and the weekly R1 and monthly R1 too........
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