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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

  • #22,621
  • Edited 1:27pm Feb 26, 2009 1:07pm | Edited 1:27pm
Quoting enculée
Looks good if it closes as an IB.
EDIT: sorry, I was talking about EJ, the UJ is a nono for me.


Thanks Ghous =D

EDIT 2: The EJ looks pretty good for a short if we get PA, some divergence too.
  • #22,622
  • Feb 26, 2009 1:07pm Feb 26, 2009 1:07pm
Quoting ghous
Sweet!

BTW Shouldn't the 8940 region be of some worry??

Where do you plan to take your profits hook?
ghous you speak my language mate, i quikly plotted my plan on my demo chart,its a good way for me to track my trades.
p.s. youlle be missed when your gone eh?...exams??!!how old are you mate?
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PATIENCE... DISCIPLINE
  • #22,623
  • Feb 26, 2009 1:11pm Feb 26, 2009 1:11pm
Quoting squeezy
r u talking about this one altitude,
also a newbie but let me just say dis
i think it has good location ........swing high / space to run
nose isnt really long but i think if it closes as a pin, it shld run first to 97.8 area

well, lets see wat others hav to say, sure im missing a couple of other points
an 8 hour pin would be nice, I don't have the 4h Pb on my chart but going by your feed don't like this one much, it sure doesn't have a lot of ego abt it to throw away this mighty bull run or retrace seriosuly IMO.

Regards,
Ghous.
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I believe . . .
  • #22,624
  • Feb 26, 2009 1:11pm Feb 26, 2009 1:11pm
Yes that's the one I'm talking about. Absolutely would'nt take it in any other spot. The nose could be bigger but it is in a good location for me.
  • #22,625
  • Feb 26, 2009 1:13pm Feb 26, 2009 1:13pm
Quoting g_j_hook@yah
ghous you speak my language mate, i quikly plotted my plan on my demo chart,its a good way for me to track my trades.
p.s. youlle be missed when your gone eh?...exams??!!how old are you mate?
Check the profile
I believe . . .
  • #22,626
  • Feb 26, 2009 1:23pm Feb 26, 2009 1:23pm
Quoting ghous
Check the profile
seems your getting a good start to your carrea!! nice 1 and good luck my friend
PATIENCE... DISCIPLINE
  • #22,627
  • Feb 26, 2009 1:32pm Feb 26, 2009 1:32pm
Quoting ghous
an 8 hour pin would be nice, I don't have the 4h Pb on my chart but going by your feed don't like this one much, it sure doesn't have a lot of ego abt it to throw away this mighty bull run or retrace seriosuly IMO.

Regards,
Ghous.
yeah dnt like it either, nose isnt long enuff for me

comment on dis potential pin on chart
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Simplicity is the key to success
  • #22,628
  • Feb 26, 2009 2:02pm Feb 26, 2009 2:02pm
Quoting arcus
Jarroo,

Is there any particular reason that you don't take the bearish PB (the one where your TP hitted). It bounce off Daily PPZ. Is it b/c of the it has small room to move before hitting another PPZ below it and small nose. It been days without setup on the daily, still waiting lol.
Not sure what your pointing out. Tough to see without a chart. Got one?
Indicators show the past. Price Action "Indicates" the future.
  • #22,629
  • Feb 26, 2009 2:43pm Feb 26, 2009 2:43pm
Quoting jarroo
Not sure what your pointing out. Tough to see without a chart. Got one?
Sorry about that. Here you go. I used your chart b/c can't post chart right now. It's the one that I marked with arrow. Thanks Jarroo.
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  • #22,630
  • Feb 26, 2009 2:52pm Feb 26, 2009 2:52pm
Quoting squeezy
yeah dnt like it either, nose isnt long enuff for me

comment on dis potential pin on chart
I wont be taking it, because the TL support and previous peaked 1hr supprt... if It breaks that, then maybe...
Dr. C
  • #22,631
  • Feb 26, 2009 3:11pm Feb 26, 2009 3:11pm
Quoting arcus
Sorry about that. Here you go. I used your chart b/c can't post chart right now. It's the one that I marked with arrow. Thanks Jarroo.
I see now what you were looking at. The PPZ may be right, but it's a poor looking PB in shape and location. Notice the one I took was off the 1.4150 level which has been recent Lows on the Daily.
Indicators show the past. Price Action "Indicates" the future.
  • #22,632
  • Feb 26, 2009 3:26pm Feb 26, 2009 3:26pm
Im gonna demo this one... but Short USD/CAD.... Huge resistance zone here... Thoughts
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Dr. C
  • #22,633
  • Feb 26, 2009 3:46pm Feb 26, 2009 3:46pm
Quoting cvcamper
Im gonna demo this one... but Short USD/CAD.... Huge resistance zone here... Thoughts
50 percent of the time = have a nice funeral the other 50 percent = good trade
You need some PA, I don't see anything besides a meaningless inside bar
  • #22,634
  • Feb 26, 2009 3:54pm Feb 26, 2009 3:54pm
Quoting jarroo
I see now what you were looking at. The PPZ may be right, but it's a poor looking PB in shape and location. Notice the one I took was off the 1.4150 level which has been recent Lows on the Daily.
Thanks Jarroo. The PB I mentioned was directly above 1.4300 level (PPZ and RD). Looking at hourly chart, price stalled at that level as expected.
  • #22,635
  • Feb 26, 2009 4:08pm Feb 26, 2009 4:08pm
finally a nice daily set up. i took this one on demo because I am not sure how to position size gold properly.

great pin with trend right off the 950 ppz, 4hr chart looks good too (FXDD feed)
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  • #22,636
  • Feb 26, 2009 4:41pm Feb 26, 2009 4:41pm
Quoting g_j_hook@yah
its closed a nice pin on my demo feed!! i like this one. looks like a nice break of the wedge with a retest...and a nice pin to get you in there.MMMMMmm
89.15 ish looks good for an entry with the daily pivot ppz and a fib confluence
Not trying to discourage you, and also not saying this beautiful pin bar cannot still work out. Just wanted to point out what it is facing.
And if I may quote James16 or Jarroo, respectively:

Quoting jarroo
1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.
Just trying to help, no offense intended.
RM
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  • #22,637
  • Feb 26, 2009 4:45pm Feb 26, 2009 4:45pm
Quoting arcus
Thanks Jarroo. The PB I mentioned was directly above 1.4300 level (PPZ and RD). Looking at hourly chart, price stalled at that level as expected.
An important point to remember is that if one is going to venture down in the 4 Hour/Hourly time frames your Price targets would obviously be looked for on those time frames (4 Hour/Hourly). But the key point is the Location and PPZs should be based on the Daily and Weekly time frames. imo.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #22,638
  • Feb 26, 2009 4:48pm Feb 26, 2009 4:48pm
Quoting Rainmaker
And if I may quote James16 or Jarroo, respectively:
RM
That was all James16 (the big guy).
Indicators show the past. Price Action "Indicates" the future.
  • #22,639
  • Feb 26, 2009 4:57pm Feb 26, 2009 4:57pm
Quoting jarroo
That was all James16 (the big guy).
I know, but your post.
RM
  • #22,640
  • Feb 26, 2009 5:21pm Feb 26, 2009 5:21pm
This does look good. I am not sure how to size gold up properly either. Mike had a post about it not too long ago I think but I cant find it. It looks that you can set it to .01 and it be equal to 1 cent. Can anyone clarify momey management for gold and silver? Thanks.


Quoting stoli7188
finally a nice daily set up. i took this one on demo because I am not sure how to position size gold properly.

great pin with trend right off the 950 ppz, 4hr chart looks good too (FXDD feed)
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