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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

  • #26,661
  • Apr 9, 2009 3:42am Apr 9, 2009 3:42am
Quoting Jellybean
Hi TiaFX

A quick question about the 150 & 365 EMAs for confluence. Are they 150-day and 365-day EMAs or 150-period and 365-period EMAs. I'm guessing they are based on daily periods, but would yo confirm, please?

Cheers
Jellybean
Hey Jellybean,

I pnly trade dailies and weeklies and keep them on both. Meaning the 150 and 365 are relevant to whichever chart I am looking at. I've seen the 150 and especially the 365 act as support and resistance on all timeframes though. You could go a little mad if you had the 1H, 4H, daily and weekly 365 EMA levels in your head so I just look to the EMA for tehc hart I am evaluating.

Just do a scan back over the last several hunded bas on any time frame with the 150 and 365 plotted. You'll be pleasnatly surprised.

Hope that helps.
  • #26,662
  • Apr 9, 2009 3:46am Apr 9, 2009 3:46am
Quoting g_j_hook@yah
hi yawl, lately iv seen a lot of posted charts with trendlines drawn in. many of these have been drawn incorrectly,Great care should be taken when drawing trendlines,especially if one is to use them as confluence.
there are two viable ways to draw TLs,one is from the extreme lows and the other is from close price.mixing the two methods to create one TL makes no technical sense. price cannot cut through the TLs,if they are to make technical sense.so called "best fit" Ls are only good for visual reference only.
thanx,
jon
I use both. At the same time. Very successfully.
Bundy's status today: "Waiting..."
  • #26,663
  • Apr 9, 2009 4:05am Apr 9, 2009 4:05am
Quoting TiaForex
Hey Jellybean,

I pnly trade dailies and weeklies and keep them on both. Meaning the 150 and 365 are relevant to whichever chart I am looking at. I've seen the 150 and especially the 365 act as support and resistance on all timeframes though. You could go a little mad if you had the 1H, 4H, daily and weekly 365 EMA levels in your head so I just look to the EMA for tehc hart I am evaluating.

Just do a scan back over the last several hunded bas on any time frame with the 150 and 365 plotted. You'll be pleasnatly surprised.

Hope that helps.
Thanks.

I have had a quick look at them on EURUSD & NZDJPY and they're magic on EURUSD, but not so good on NZDJPY. I'll look further.

Cheers
Jellybean
  • #26,664
  • Apr 9, 2009 4:16am Apr 9, 2009 4:16am
gbp$ H4 BEOB on FXPro formed (2-bar incomplete BEOB on IBFX)...
will it make a move to 1.4500-1.4520area ( H4 365 EMA) & more?

Daily, is poised to form a BEOB too (if downmove continues) & possibly a downside breakout from the 2-day range?
Basically we are stuck between 23.6 & 38.2 Fib of the Mar30-Apr6 upmove.
price is having a hard time breaking 1.4770 area since March24 (except the break above it on early April). on the downside, 1.4630 supports.

watching...Let's see
  • #26,665
  • Apr 9, 2009 4:19am Apr 9, 2009 4:19am
Quoting bundyraider
I use both. At the same time. Very successfully.
thats my view also.any TL analysis should be done using both.
im still learning how to trade from them effectivly,3rd touch etc,but i love to play the breaks and retrace.
if youde like to pm me with some ideas you use your more than welcome
jon
EDIT: come on euro ....come on euro...!!
PATIENCE... DISCIPLINE
  • #26,666
  • Apr 9, 2009 4:26am Apr 9, 2009 4:26am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
hi, Ghous, I found you a failed IPB, this was expected though, its occurance is really rare, isn't it?
Attached Image (click to enlarge)
Click to Enlarge Name: failed ipb eurusd apr.9.09.gif Size: 11 KB
  • #26,667
  • Apr 9, 2009 4:28am Apr 9, 2009 4:28am
On the EMA's, I've had them both on my charts for about two weeks now. In all honesty, I had no idea what relevance they had other than they seemed to just "float" around the PA at quite a distance most of the time. Last night I viewed this link thoughtfully provided by Mike http://www.forexfactory.com/showthre...ght=365&page=2 (Thanks Mike!) and the bulb began to glow.

It was late so I only scrolled back over about a dozen pairs and found that most all of them respected the EMA's but some far better than others. Although I'll certainly do more study to confirm this for myself, it seems most of the JPY pairs adhere a "little" less to them.

My question is (and again, I'll do more study), is there a difference between the two with regards to time frames? That is, is the 150 more accurate on lower TF and the 365 better on higher ones?
Ghost Rider - WWTBMD?
  • #26,668
  • Apr 9, 2009 4:34am Apr 9, 2009 4:34am
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: Gbpchf_2009-04-09_1104.png Size: 51 KB
  • #26,669
  • Apr 9, 2009 4:40am Apr 9, 2009 4:40am
Quoting Jellybean
Thanks.

I have had a quick look at them on EURUSD & NZDJPY and they're magic on EURUSD, but not so good on NZDJPY. I'll look further.

Cheers
Jellybean
They are just another tool in the confluence kit. They are useful on their own but it's when they combine with price action, fibs and possibly divergence that we get the slam dunk trades. And even they don;t sometimes work out..... But across a large number of trades we begin to see the benefit of our high probability approach.
  • #26,670
  • Apr 9, 2009 5:01am Apr 9, 2009 5:01am
Quoting krue
hi, Ghous, I found you a failed IPB, this was expected though, its occurance is really rare, isn't it?
Hi Krue, that IPB played out brilliantly!

If you search through my posts you'll see how I plan to trade them. This one was beauty!

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: failed ipb eurusd apr.9.09.gif Size: 12 KB
I believe . . .
  • #26,671
  • Apr 9, 2009 5:04am Apr 9, 2009 5:04am
Quoting g_j_hook@yah
thats my view also.any TL analysis should be done using both.
im still learning how to trade from them effectivly,3rd touch etc,but i love to play the breaks and retrace.
if youde like to pm me with some ideas you use your more than welcome
jon
EDIT: come on euro ....come on euro...!!
She's not gonna come until she's over with her date with 133.
I believe . . .
  • #26,672
  • Apr 9, 2009 5:05am Apr 9, 2009 5:05am
Quoting g_j_hook@yah
thats my view also.any TL analysis should be done using both.
im still learning how to trade from them effectivly,3rd touch etc,but i love to play the breaks and retrace.
if youde like to pm me with some ideas you use your more than welcome
jon
EDIT: come on euro ....come on euro...!!
I wouldn't want to force anyone to complicate their job by using both. You don't need to to trade profitably. I've just come to use many many many tools to help me feel the beat of the market and get really good entries.

PMs no good. Can't send charts in them. lol So....

Chart below:

This one to get another (tighter) parcel in on NZD JPY daily pin (Add to an opening pin break position I have)
Limit buy at Orange dashed line. Stop placed below pink/magenta line (drawn on close prices)

(BTW, As I write this post, this trade is now running free . First half closed. That profit will cover the loss on my original stop. ...For that position. If it flys up up and away, I'm positioned very nicely.)

Depending on opening or closing I'll choose the appropriate closest or furthermost line for the target, or entry, or stop etc.

There is a BEST preferred method. Clear trend lines based on bar extremes (not close chart). The ones where EVERYONE sees them and are itchy to use the break/pullback. Especially in the wind-up flag / wedge trades and so forth. ...Just ask Mikey.

Again, I don't think anyone starting out should complicate things by doing the obsessive rubbish I often do here. K.I.S.S. people.

Edit: Oops ...first chart pic didn't have coloured lines. Re-posted.
Attached Image
Bundy's status today: "Waiting..."
  • #26,673
  • Apr 9, 2009 5:08am Apr 9, 2009 5:08am
Quoting albchr
Morning everyone.

Brewing the coffee and getting ready. All 3 trades entered and now it's wait and see...lol
Morning Chris,

Did you know rifles can trigger on their own sometimes...

Snipers are better, you can lie back on your couch and take your time to hunt your quarry...the precision with which the bullet hits the target is mind blowing.

They are specially great when you like the safety of the bush...if you know what I mean

Try them...

Regards,
Ghous.
I believe . . .
  • #26,674
  • Apr 9, 2009 5:20am Apr 9, 2009 5:20am
Quoting ghous
Morning Chris,

Did you know rifles can trigger on their own sometimes...

Snipers are better, you can lie back on your couch and take your time to hunt your quarry...the precision with which the bullet hits the target is mind blowing.

They are specially great when you like the safety of the bush...if you know what I mean

Try them...

Regards,
Ghous.
Morning Sir,

I suppose you're right. Having picked that up in my reading I felt it was a good metaphor and thus put it there to remind me of the basic concept of patiently hunting. Plus I just really liked the sound of it...

However, in my never ending quest for refinement, I may have to "re-word" it a bit...LOL

Especially since in last nights hunt, I "may" have been ambushed by two of my three quarry's.....still waiting to see though.
Ghost Rider - WWTBMD?
  • #26,675
  • Apr 9, 2009 5:25am Apr 9, 2009 5:25am
Quoting bundyraider
I wouldn't want to force anyone to complicate their job by using both. You don't need to to trade profitably. I've just come to use many many many tools to help me feel the beat of the market and get really good entries.

PMs no good. Can't send charts in them. lol...
nice bundyraider,looking at your chart its good to know im on the right track.These are exactly the trades im demoing right now. i tend to use close price tls on longer TFs only.(like the way you use it to place your stop!) You should start a thread...tL trading?? lol .
thanx
PATIENCE... DISCIPLINE
  • #26,676
  • Apr 9, 2009 5:28am Apr 9, 2009 5:28am
Quoting ghous
She's not gonna come until she's over with her date with 133.
must be some sexy women that 133!! I have big a big black line on my chart iv been patiently waiting to be broken......
hehe
PATIENCE... DISCIPLINE
  • #26,677
  • Edited 6:11am Apr 9, 2009 5:30am | Edited 6:11am
Quoting ghous
Morning Chris,

Did you know rifles can trigger on their own sometimes...

Snipers are better, you can lie back on your couch and take your time to hunt your quarry...the precision with which the bullet hits the target is mind blowing.

They are specially great when you like the safety of the bush...if you know what I mean

Try them...

Regards,
Ghous.
When I read that I felt like frontline Infantry :|
Anyways... any thoughts about the direction of E/U, E/Y they acculumated quite some volume, should be a HUGE move. E/U Down, E/Y Down
Some comments please

Airmos
simple....
  • #26,678
  • Apr 9, 2009 5:53am Apr 9, 2009 5:53am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
wow, I didn't notice this strategy, ghous, you are such a brilliant young man, many can be learnt from you ! actually, when I was posting this topic, I didn't close my position by half, so, when see price withdrawing back down to 1.3300, I closed everything with a little bit annoy. but, I am glad to see its power, I meant the power of IPB, it really indicating the supplying force around it. congratulations !

Quoting ghous
Hi Krue, that IPB played out brilliantly!

If you search through my posts you'll see how I plan to trade them. This one was beauty!

Regards,
Ghous.
  • #26,679
  • Apr 9, 2009 5:59am Apr 9, 2009 5:59am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
This is a breauty stuff, bundy. by the way, you didn't draw the uptrend line which could be connected through the wicks, did you ignor it on purpose or had a different focus?

Quoting bundyraider
I wouldn't want to force anyone to complicate their job by using both. You don't need to to trade profitably. I've just come to use many many many tools to help me feel the beat of the market and get really good entries.

PMs no good. Can't send charts in them. lol So....

Chart below:

This one to get another (tighter) parcel in on NZD JPY daily pin (Add to an opening pin break position I have)
Limit buy at Orange dashed line. Stop placed below pink/magenta line (drawn on close prices)

(BTW, As I write this post, this trade is now...
  • #26,680
  • Apr 9, 2009 7:11am Apr 9, 2009 7:11am
Looks like an outside bar on GU 4h, mine closed 2hours ago..
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