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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

  • #28,821
  • Apr 30, 2009 9:52am Apr 30, 2009 9:52am
Quoting ghous
Hey guys,

Just wanted to let ya'll know that this is my last post here at FF. I'll be off for a month and half...

Wanted to thank you all for such a great thread before I leave...

All of you will be terribly missed

(Special congrats to Josh for his achievement of the first major hall mark! )

I'll be right back unless I'm dead

C ya'll then,

Bye

Regards,
Ghous.
See ya around June or July Ghous. Enjoy your time off!
"Luck favors the prepared mind"
  • #28,822
  • Apr 30, 2009 9:52am Apr 30, 2009 9:52am
I am new in this site, I need friends that can assist in term of needs.
  • #28,823
  • Apr 30, 2009 9:59am Apr 30, 2009 9:59am
Quoting Jduester
Final 1/3 profit target reached overnight at 1.1910. Yippee!!!

Last day of step 1 for Jim's minimum requirements!!!! Ensured 3 consecutive profitable months!

Josh
awesome man and not a surprise

congrats
  • #28,824
  • Apr 30, 2009 10:00am Apr 30, 2009 10:00am
Quoting dibuowo
I am new in this site, I need friends that can assist in term of needs.
This thread always has room for more friends. Start on page 1 and enjoy
  • #28,825
  • Apr 30, 2009 10:02am Apr 30, 2009 10:02am
Quoting dibuowo
I am new in this site, I need friends that can assist in term of needs.

Don't worry, You have come to the right place. This thread is like one big trading family. Everyone is extremely helpful. I'll be the first to tell you though. You need to read through the entire forum, because pretty much every question has been answered several times. Yes I know it's long, but well worth it if you are serious about trading.

Jim
"Luck favors the prepared mind"
  • #28,826
  • Apr 30, 2009 10:02am Apr 30, 2009 10:02am
Quoting mbqb11
This thread always has room for more friends. Start on page 1 and enjoy

Damn your quick mike. I thought I beat you to it lol
"Luck favors the prepared mind"
  • #28,827
  • Apr 30, 2009 10:04am Apr 30, 2009 10:04am
Quoting ghous
Hey guys,

Just wanted to let ya'll know that this is my last post here at FF. I'll be off for a month and half...

Wanted to thank you all for such a great thread before I leave...

All of you will be terribly missed

(Special congrats to Josh for his achievement of the first major hall mark! )

I'll be right back unless I'm dead

C ya'll then,

Bye

Regards,
Ghous.

see ya soon Ghous, enjoy and be good
  • #28,828
  • Apr 30, 2009 10:07am Apr 30, 2009 10:07am
Quoting dibuowo
I am new in this site, I need friends that can assist in term of needs.
Hi dibuowo

If you need to learn how to trade, read and go through the all links in the first post. This stuff will take you months to learn, and it's definitely worth it.
WARNING: Don't follow me as I'm just learning
  • #28,829
  • Apr 30, 2009 10:08am Apr 30, 2009 10:08am
Looks like Eur/Usd headed back up
Attached Image
  • #28,830
  • Apr 30, 2009 10:09am Apr 30, 2009 10:09am
... looks like I can't type fast enough
WARNING: Don't follow me as I'm just learning
  • #28,831
  • Apr 30, 2009 10:10am Apr 30, 2009 10:10am
Here's an example of a poor trade. I entered the EUR/NZD long late afternoon on Tuesday after that strong bullish bar (engulfed the bodies of previous three bars). I was trading it like a BUOB/breakout higher of the 2.30 rejection.
Yesterday, it ran straight south to within 20 pips of my stop loss order. Then came back to B/E briefly last night after the NZD rate cut. At that point, I cut my risk in 1/2. Was stopped out this morning for a 1% hit to the demo account.

I'm not sure how poor of a trade setup this was, but I do know that it wasn't as good as the setups for most of my trades. A good reminder to keep at it, keep focused and disciplined in the trades we take. I still have portions of a few trades open for April (GBP/CHF weekly BUOB from early April , EUR/JPY pin from Tuesday, and NZD/CAD BEOB from 4/14) but all are at least at B/E overall. Will post my 3 month demo results after all have closed.

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD 043009_.GIF Size: 51 KB
  • #28,832
  • Apr 30, 2009 10:16am Apr 30, 2009 10:16am
Need space Josh.

You'll see what I mean when you look again. Look from the 20th or so onwards.


Quoting Jduester
Here's an example of a poor trade. I entered the EUR/NZD long late afternoon on Tuesday after that strong bullish bar (engulfed the bodies of previous three bars)....
Bundy's status today: "Waiting..."
  • #28,833
  • Apr 30, 2009 10:43am Apr 30, 2009 10:43am
Quoting bundyraider
Need space Josh.

You'll see what I mean when you look again. Look from the 20th or so onwards.
Yeah. I think that was a major factor in this one. I wonder how long it will be stuck in this 550 pip congestion... Thanks Bundy.
  • #28,834
  • Apr 30, 2009 10:49am Apr 30, 2009 10:49am
Quoting Jduester
Total Newbie,
Try this to post a chart.....

Thanks for your help. Just wanted to know if my analysis was on the right track. Here's my attempt at a chart...


Edit: Woo hoo it worked!
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.JPG Size: 80 KB
  • #28,835
  • Apr 30, 2009 10:50am Apr 30, 2009 10:50am
Quoting Jduester
Yeah. I think that was a major factor in this one. I wonder how long it will be stuck in this 550 pip congestion... Thanks Bundy.
A little hesitant to mention it before , because I know it's each to their own, but a lot of us here have the 150ema and 365ema on our charts. Price will ricochet between those two a very high percentage of the time. ( I personally also have 200ema) . It's there now. It can help you figure out the likely consolidations when they arrive, having those on the chart.
Bundy's status today: "Waiting..."
  • #28,836
  • Apr 30, 2009 11:16am Apr 30, 2009 11:16am
As you said Bundy, to each their own. I have left the MA's off my charts so far because some brokers have weekend bars and others do not. And it seems to get the long term MA off by quite a bit.

I might work them back in, in the future. I do see you experienced guys use them very well to your advantage.
  • #28,837
  • Apr 30, 2009 11:24am Apr 30, 2009 11:24am
Quoting unlv_tj
As you said Bundy, to each their own. I have left the MA's off my charts so far because some brokers have weekend bars and others do not. And it seems to get the long term MA off by quite a bit.

I might work them back in, in the future. I do see you experienced guys use them very well to your advantage.
Unlv,
I've found the same thing with the big differences because of Sunday bars. I have the 50,150 and 365 on most charts, but I rarely use them... forgot to put them on E/Z when I recently added it.
  • #28,838
  • Apr 30, 2009 11:38am Apr 30, 2009 11:38am
Quoting unlv_tj
As you said Bundy, to each their own. I have left the MA's off my charts so far because some brokers have weekend bars and others do not. And it seems to get the long term MA off by quite a bit.

I might work them back in, in the future. I do see you experienced guys use them very well to your advantage.
They aren't magical. They're just averages. We use them to add "points" to the validity of a confluence and so on. (Welll... ....Mostly.)

Sunday bars don't make enough difference on a daily chart. On 365??

...The numbers aren't that specific. I just believe one long term average, one medium term average and so on. If I know a lot of other people use say the 200ema on daily charts then I am VERY glad to use that. 365 the same. 150... neither here nor there . It's just close to the 144 fib number and so on too.

I'm not going to twist anyone's arm about them. You don't need them to trade these set ups. They can help give you a feel for the rhythm though.
Bundy's status today: "Waiting..."
  • #28,839
  • Apr 30, 2009 11:40am Apr 30, 2009 11:40am
Quoting Jduester
Unlv,
I've found the same thing with the big differences because of Sunday bars. I have the 50,150 and 365 on most charts, but I rarely use them... forgot to put them on E/Z when I recently added it.
Using MT4?

Did you know you could save a Default.tpl template?
(Any chart created will use the saved timeframe as a bonus. So you can have new charts automatically open as a daily chart.)

edit: OK I see you are using FXSols charts. lol Got it!
Bundy's status today: "Waiting..."
  • #28,840
  • Apr 30, 2009 12:01pm Apr 30, 2009 12:01pm
Quoting bundyraider
Using MT4?

Did you know you could save a Default.tpl template?
(Any chart created will use the saved timeframe as a bonus. So you can have new charts automatically open as a daily chart.)

edit: OK I see you are using FXSols charts. lol Got it!
I have FXPro for a few pairs/commodities but haven't spent much time with it. Will look into that...I'll try to post a good example of differing EMAs with/without Sunday bars later... gotta get lunch.
Thanks.

Josh
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