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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

  • #2,701
  • Feb 19, 2007 3:13pm Feb 19, 2007 3:13pm
Quoting Jimmywa
is this a pin on aud/cad four hour mike? I bought a few minis at the red line and will move stop to free trade.'

crazy spread on CMS VT trader is 10 pips. DRAT!
\

OK jimmy I will answer here ingore that last PM I got a blank one from you.

That isnt a good pinbar. It is a neutral bar are mine(remember diff feeds will look diff, yours is more of a pin then mine). But on mine it is a neutral bar. We are on a uptrend here, which is just a retracemnt of larger downtrend IMO.
My tip is if you ever have to question something being a good bar. It's not worth trading. This is what I live by. If I can't decide if a pin is in a good location, I know I will have a better one to trade around the corner. But demo demo demo this right?


Hope that helps,
Mike

also for what its worth, for me I look for the much better probability trades on these higher spread pairs. Also just want to note, there is a lot of way to play this PA stuff. My posts are always just my interpretation of it
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  • #2,702
  • Feb 19, 2007 3:35pm Feb 19, 2007 3:35pm
Quoting mbqb11
\

OK jimmy I will answer here ingore that last PM I got a blank one from you.

That isnt a good pinbar. It is a neutral bar are mine(remember diff feeds will look diff, yours is more of a pin then mine). But on mine it is a neutral bar. We are on a uptrend here, which is just a retracemnt of larger downtrend IMO.
My tip is if you ever have to question something being a good bar. It's not worth trading. This is what I live by. If I can't decide if a pin is in a good location, I know I will have a better one to trade around the corner. But demo demo demo this right?


Hope that helps,
Mike

also for what its worth, for me I look for the much better probability trades on these higher spread pairs. Also just want to note, there is a lot of way to play this PA stuff. My posts are always just my interpretation of it
Mike what is PA? I exited with a small profit.

here is a ? for you. How can different feeds look different?

could your aud/cad be rallying 20 pips at 2pm PST and my feed on aud/cad
be dropping by 20 pips at the same time. this is rather confusing
also are some feeds more acurate that others?
  • #2,703
  • Feb 19, 2007 3:39pm Feb 19, 2007 3:39pm
Quoting Jimmywa
Mike what is PA? I exited with a small profit.

here is a ? for you. How can different feeds look different?

could your aud/cad be rallying 20 pips at 2pm PST and my feed on aud/cad
be dropping by 20 pips at the same time. this is rather confusing
also are some feeds more acurate that others?
PA is just abbrv for Price Action.

When I say price feeds look diff, I mean different brokers use diff timezones, so if my 4 hour bar closes at 7 eastern and yours closes at 6eastern our bars will look the same. It has been accepted to just play it as your charts show it. So if your shows a pin and mine doesn't, play it as you see it. But no my a/c wont be going up 20 pts , and yours dropping 20 pts( aside from any fishy business )

Hope that helps,
Mike
  • #2,704
  • Feb 19, 2007 5:16pm Feb 19, 2007 5:16pm
this is the first page I see at the members lounge am I in the right area?
yikes where do I start!!!
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  • #2,705
  • Feb 19, 2007 5:20pm Feb 19, 2007 5:20pm
nope thats not the right area. Click on the Forums button on the main FF page. Then at the bottom of the Forums is a link called James16 Group.


lemme know if it works, and welcome to the pF!

Mike
  • #2,706
  • Feb 19, 2007 5:28pm Feb 19, 2007 5:28pm
big jim its in the blue bar under the members lounge. i know your in because i recieved the registration slip. i help coach a basketball team at my sons school. be back in a couple of hours. thanks as always for your help mb.

jim

Quoting Jimmywa
this is the first page I see at the members lounge am I in the right area?
yikes where do I start!!!
  • #2,707
  • Feb 19, 2007 5:46pm Feb 19, 2007 5:46pm
Does anybody else like the pinbar on the NZD/USD daily? The top is touching right around 2 different resistance levels on the fibs.
Life is too short to have anything but delusional notions about yourself.
  • #2,708
  • Feb 19, 2007 5:59pm Feb 19, 2007 5:59pm
Quoting mbqb11
nope thats not the right area. Click on the Forums button on the main FF page. Then at the bottom of the Forums is a link called James16 Group.


lemme know if it works, and welcome to the pF!

Mike

thank you I found it.now i have to read read read for like the next 40 hours or so. I think I will call in sick this week.
  • #2,709
  • Feb 19, 2007 11:00pm Feb 19, 2007 11:00pm
i have posted on other threads, but i found this one and think it may offer a better opportunity to understand the forex market. i knoiw i have lots of reading to do, and then try to understand what i read into what i see, major task!!! i also know that the news can throw everything to the wind and ruin what anyone thinks at a crucial moment, so i think i will try to look for longer term trends, though shorter terms can be lucrative as well, when i actually have learned something. ok, as for what is going on, does anyone think there will be lots of movement until we see what the boj does and the boe minutes come out in the next day??? also, i do watch cnbc world and the forex analysis they have with some of the big boys and what they are looking for in the markets. most of it seems to be long term, months and the rest of the year for example. do they know anything, or are they just guessing like miss cleo??? there are always people who think opposite, so is it just for programming and eating the time on tv???? i have a thirst for as much knowledge as possible, but am i overloading and that will cloud my judgement or might they actually have some good insight?? anyone?? beuller?? bueller?? what scenerios is anyone looking for with regards to the boj and the boe minutes??? could be some serious pips out there, maybe????
  • #2,710
  • Feb 19, 2007 11:14pm Feb 19, 2007 11:14pm
Quoting mtrmth
i have posted on other threads, but i found this one and think it may offer a better opportunity to understand the forex market. i knoiw i have lots of reading to do, and then try to understand what i read into what i see, major task!!! i also know that the news can throw everything to the wind and ruin what anyone thinks at a crucial moment, so i think i will try to look for longer term trends, though shorter terms can be lucrative as well, when i actually have learned something. ok, as for what is going on, does anyone think there will be lots of movement until we see what the boj does and the boe minutes come out in the next day??? also, i do watch cnbc world and the forex analysis they have with some of the big boys and what they are looking for in the markets. most of it seems to be long term, months and the rest of the year for example. do they know anything, or are they just guessing like miss cleo??? there are always people who think opposite, so is it just for programming and eating the time on tv???? i have a thirst for as much knowledge as possible, but am i overloading and that will cloud my judgement or might they actually have some good insight?? anyone?? beuller?? bueller?? what scenerios is anyone looking for with regards to the boj and the boe minutes??? could be some serious pips out there, maybe????
Hey mtrmth,

I know the feeling so much going on all the time it can get overwhelming. I am a lazy person, so i like to keep things simple. That's what james has taught me to do. As far as all those analysts on cnbc and stuff, maybe some know what they are talking about, but to me more are just that analysts. For instance in Market Wizards book a few of the big time guys talk about how all the analysts dont have a clue how to trade an account for themselves. As for the whole jpy thing. I have been long since yest. Based of nothing but price action. I went long on eur/jpy at 157.18. So i have a nice cushion hopefully holds over into the statment. I am a firm believe TA gives a heads up for these fundamental mvoes. You can't hide where the big money is going, and it shows. But like you said, there is always something that can cause something to go wrong and thats why we use money mgmt!

Look forward to your posts here.

Mike
  • #2,711
  • Feb 19, 2007 11:52pm Feb 19, 2007 11:52pm
was that trade off of the daily pin by any chance? and why was it 18pts above the daily pin if so?
  • #2,712
  • Feb 19, 2007 11:53pm Feb 19, 2007 11:53pm
Quoting Jimmywa
was that trade off of the daily pin by any chance? and why was it 18pts above the daily pin if so?

ya daily pin, it was 9 or 10 pts above without the spread sorry.

M
  • #2,713
  • Feb 20, 2007 12:41am Feb 20, 2007 12:41am
Quoting mbqb11
ya daily pin, it was 9 or 10 pts above without the spread sorry.

M
Hey Mike

You get all the girls! Er, pins! I wanted to trade the EJ, too, but I was too stubborn to trade a break of it and instead had a pending buy at 156.65 around the .618 and left eye-ish....instead it decided to just up and leave without me....*puts on "Waiting In Vain" from Bob Marley* Typical!
Btw, I'm still in the Kiwi, against all odds
Oddly enough the bearish Pin never broke, had my stops 10 pips below that and I'm still fine...
What a mess this markets been in February though!

Attaching some guess at PA from this mornings cable...
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Trust price. Know yourself.
  • #2,714
  • Feb 20, 2007 12:43am Feb 20, 2007 12:43am
geez seeking where you been!?
  • #2,715
  • Feb 20, 2007 1:09am Feb 20, 2007 1:09am
Doing this, doing that, mostly the usual, trying to make sense of this nonsense market
Burning money, so my account isn't as happy as it used to be when it sees me..

What's ironic is that I can see how a single good "sweet spot" trade can last seemingly forever (Kiwi, it's been on what, 2+ trading weeks?) and how on the other hand trying to nail down a rather erratic February market intraday can cost you more than your daily trades make...eurgh.

Missed some good stuff due to things just not retracing enough to my liking (USDCHF, EURJPY...) or simply wondering what the heck is going on (Doji/PB then a normal BUB/BEB, then another one against it again....argh.)

Still trying to find my center..
Trust price. Know yourself.
  • #2,716
  • Feb 20, 2007 1:13am Feb 20, 2007 1:13am
Quoting SeekingLight
Doing this, doing that, mostly the usual, trying to make sense of this nonsense market
Burning money, so my account isn't as happy as it used to be when it sees me..

What's ironic is that I can see how a single good "sweet spot" trade can last seemingly forever (Kiwi, it's been on what, 2+ trading weeks?) and how on the other hand trying to nail down a rather erratic February market intraday can cost you more than your daily trades make...eurgh.

Missed some good stuff due to things just not retracing enough to my liking (USDCHF, EURJPY...) or simply wondering what the heck is going on (Doji/PB then a normal BUB/BEB, then another one against it again....argh.)

Still trying to find my center..
I hear ya! As you know I am a big fan of those sweet spot trades, and maybe once a week put on a trade under the 4hr charts. this market has been garbage up until a recent few nice moves. Right now I have a weekly, 2 daily and monthly trade going. And one fun shorter term trade. Much more relaxing on my brain, although I still spend massive amounts of screen time so I can learn from all you smart people, and get better.

Good to see you around and I think your center is real close to being found
Mike
  • #2,717
  • Edited 4:25am Feb 20, 2007 1:27am | Edited 4:25am
Quoting mbqb11
Good to see you around and I think your center is real close to being found
Mike

Thanks Mike, I just hope it's soon before I have to resort to marrying rich to preserve my exquisite lifestyle
Hold on tight to that EJ trade, if things pan out well it might see 159.70+ easy...I think the yen pairs made some of those "could or not have been the best chance to get back in for quite a while" setups..sparked by that post-G7 selloff.
It's still a bit iffy what with USDJPY showing bearish on weekly but pinning on daily...but sometimes daily CAN overpower a weekly...I guess prolly because people have forgotten how weekly looked after going the other way from daily hehe

Let's see....I just wish things would have retraced properly so I could have gotten in, such nice interest to be made alongside the positions :/

Attempted a tiny one on GJ upon moving out of the lower swamp areas and starting to climb back over a trendline(which had sold it off for 150 and 50 pips last times it touched it), also signalling with a sort of bullish outside pin and barish something. I'm aiming for as much as it can give me (so roughly around 600 pips would be nice, thanks)...and if not the position is tiny, like I said
The usual 2%...
Now could someone please buy some sterling, I want this BUOB formation to work!

Edit: A few hours later....a classic example of why this month is driving me nuts. The cable setup appeared to work, things were well underway at +20 or so, I leave the room for 15 minutes or so and come back to a stopped out position for -16....uhm? Now I know 1.9555 is a mighty s/r and all that, but sheesh...weren't even any news...and now everything's back in the mud...if anyone sees any clear cut setups wave a sign, because it's fog n smoke here
Trust price. Know yourself.
  • #2,718
  • Feb 20, 2007 4:33am Feb 20, 2007 4:33am
cable is just too cluttered IMO to be trading. I still think longer term cable is going up up, but i wont trade till we get out of this. I was going to play a long off the bottom TL yest but I missed it. My u/j and e/j look fine for now. weekly usd/chf has come back but I think that is just temporary. I have a small short on the aud/usd from 7875 and just took a small position short on eur/cad at 5314.

Gonna wait for a break out of this before I realluy consider a cable trade
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  • #2,719
  • Feb 20, 2007 10:38am Feb 20, 2007 10:38am
Has anyone caught this bounce off of previous multi year high in 2003.
I Love that PA and resistance turning support at price pivots.

J16
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  • #2,720
  • Feb 20, 2007 10:42am Feb 20, 2007 10:42am
Quoting raczekfx
Has anyone caught this bounce off of previous multi year high in 2003.
I Love that PA and resistance turning support at price pivots.

J16
Actually have the most tiny position from the PB break on that...but it was for a different reason and I'm still a bit timid holding it....but I'll try to keep it until we hit new highs or blow out the PB or something
Btw, not a great pin in my book, but at s/r like you said, so let's see how it goes...

Nice to see you're still around RaczekFX, always great to see your posts&learn from them
Trust price. Know yourself.
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