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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

  • #9,741
  • Mar 29, 2008 6:55am Mar 29, 2008 6:55am
Quoting aihua5
Hi Bundyraider
Thanks for you long and wonderful explanation.
I agree with you.
I think we should not take the first bullish outside bars as james taked.
I have ask the same question as to phn.
Do you agree with me about the first bullish outside bars judgement?

Cheers
Aihua
No . ....What phn said. A break of that first Outside Bar also breaks consolidation/range. ...So it's a good trade.

James even said: "Bullish outside bar signalling LIKELY breakout of consolidation."

Sometimes the overall price patterns leading up to the signal give you a strong case for a particular trade too.

On one hand trading price action can make things very easy, on the other hand, it's a little tricky getting to grips with all the nuances!

This is why it it's advised to learn one thing at a time and get good at it before moving on to the next one. There is a LOT to learn. I can see you're getting the idea though , for sure.
Bundy's status today: "Waiting..."
  • #9,742
  • Mar 29, 2008 6:57am Mar 29, 2008 6:57am
Quoting bundyraider
No . ....What phn said. A break of that first Outside Bar also breaks consolidation/range. ...So it's a good trade.

James even said: "Bullish outside bar signalling LIKELY breakout of consolidation."

Sometimes the overall price patterns leading up to the signal give you a strong case for a particular trade too.

On one hand trading price action can make things very easy, on the other hand, it's a little tricky getting to grips with all the nuances!

This is why it it's advised to learn one thing at a time and get good at it before moving on to the next one. There is a LOT to learn. I can see you're getting the idea though , for sure.

Practise, Practise, Learn and Practise.
Indicators show the past. Price Action "Indicates" the future.
  • #9,743
  • Mar 29, 2008 6:58am Mar 29, 2008 6:58am
it is a direction for cable with meduim reliability
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  • #9,744
  • Mar 29, 2008 6:59am Mar 29, 2008 6:59am
dear jarroo have a nice time for you
bi bi
  • #9,745
  • Mar 29, 2008 7:04am Mar 29, 2008 7:04am
Quoting jarroo
Not sure if I'm on the same page as you and bundy. The 2nd Bearish Outside Bar showed the way down.?
jarroo, I mean the pattern in below char. You can check it.
Now I have known why we should not take this trade because the bar price movement was supported by the S line.
Thank you.
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Rhythm, Motion, Emotion and Risk Reward.
  • #9,746
  • Mar 29, 2008 7:09am Mar 29, 2008 7:09am
Quoting aihua5
jarroo, I mean the pattern in below char. You can check it.
Now I have known why we should not take this trade because the bar price movement was supported by the S line.
Thank you.
Remember, we don't play Sunday bars.
Indicators show the past. Price Action "Indicates" the future.
  • #9,747
  • Mar 29, 2008 7:16am Mar 29, 2008 7:16am
Quoting bundyraider
No . ....What phn said. A break of that first Outside Bar also breaks consolidation/range. ...So it's a good trade.

James even said: "Bullish outside bar signalling LIKELY breakout of consolidation."

Sometimes the overall price patterns leading up to the signal give you a strong case for a particular trade too.

On one hand trading price action can make things very easy, on the other hand, it's a little tricky getting to grips with all the nuances!

This is why it it's advised to learn one thing at a time and get good at it before moving on to the next one. There is a LOT to learn. I can see you're getting the idea though , for sure.
I think you mean this is a break out trade.
I should put one buy stop order above this R line but not right on the daily candle close/open price, right?
As your experience, how many pips above R line should be ok? 10, 20, or 30?
Thanks.
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Rhythm, Motion, Emotion and Risk Reward.
  • #9,748
  • Mar 29, 2008 7:19am Mar 29, 2008 7:19am
Quoting aihua5
I think you mean this is a break out trade.
I should put one buy stop order above this R line but not right on the daily candle close/open price, right?
As your experience, how many pips above R line should be ok? 10, 20, or 30?
Thanks.
Your right! How pips above? 1 pip above.
Indicators show the past. Price Action "Indicates" the future.
  • #9,749
  • Mar 29, 2008 7:26am Mar 29, 2008 7:26am
Quoting jarroo
Remember, we don't play Sunday bars.
Thank you. I will bear it in mind.
I think the reason should be try to avoid the weekend's news or indeterminacy.
Rhythm, Motion, Emotion and Risk Reward.
  • #9,750
  • Mar 29, 2008 7:31am Mar 29, 2008 7:31am
Quoting jarroo
Your right! How pips above? 1 pip above.
I got it.
It seems that 1 pip is too tight. For me I think more than 10 pips is safer than 1 pip in case of the fake break out.
Rhythm, Motion, Emotion and Risk Reward.
  • #9,751
  • Mar 29, 2008 7:34am Mar 29, 2008 7:34am
Quoting aihua5
I got it.
It seems that 1 pip is too tight. For me I think more than 10 pips is safer than 1 pip in case of the fake break out.
Yes, that's just me.

Your right.
Indicators show the past. Price Action "Indicates" the future.
  • #9,752
  • Mar 29, 2008 8:12am Mar 29, 2008 8:12am
Quoting jarroo
Yes, that's just me.

Your right.
Thank you all. You are kind and warmhearted people.
Now I have no question.
I will keep learning the price action here.
Rhythm, Motion, Emotion and Risk Reward.
  • #9,753
  • Mar 30, 2008 9:37am Mar 30, 2008 9:37am
With two daily IBs, things should get very interesting soon!
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  • #9,754
  • Mar 30, 2008 9:42am Mar 30, 2008 9:42am
Quoting raczekfx
With two daily IBs, things should get very interesting soon!

Yes, I have this one on my radar as well.

We could have a double top forming. Truth is, subprime defaults are showing up in Spain as well now, and Italy's consumer spending is horrible. There seems to be two different sides to Europe now. Northern EU seems to be doing really well, while the south isn't. We will see.

However, we let the charts do the talking....if it's a long.....it's a long. Period!
  • #9,755
  • Mar 30, 2008 1:17pm Mar 30, 2008 1:17pm
Quoting clockwork71
There seems to be two different sides to Europe now. Northern EU seems to be doing really well, while the south isn't.
Hey Chris,

don´t be too sure about that. Some German banks have already busted over supbrime issues and were taken over/have been "rescued". Not Deutsche Bank or the size of the like, but some quite reputable mid-sized ones.

RM
  • #9,756
  • Mar 30, 2008 2:36pm Mar 30, 2008 2:36pm
Please forgive me for beating the dead horse again :-)

Here is my reading on the GBP. The PA stuff that James showed us is really amazing.

Ken
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  • #9,757
  • Mar 30, 2008 2:45pm Mar 30, 2008 2:45pm
Dollar is getting stronger against CAD? Hmmm!
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  • #9,758
  • Mar 30, 2008 3:17pm Mar 30, 2008 3:17pm
Im a little confused as to the fact we have had 2 daily pins in such a short space of time and both still active? I mean it’s a bit unusual looking at the past bars in this pair.
Could any one say one was better than the other or should we wait until one is broken?
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,759
  • Mar 30, 2008 4:02pm Mar 30, 2008 4:02pm
Quoting jarroo
Your right! How pips above? 1 pip above.
hello, jarroo, so dis is where u at, i have seen u at karmos, and auslancos for a while now.was wondering where u were. hope uve learnt alot,
  • #9,760
  • Mar 30, 2008 9:54pm Mar 30, 2008 9:54pm
Quoting goodtiding5
Dollar is getting stronger against CAD? Hmmm!
yes, I think that usdcad is heading north
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