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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

  • #30,461
  • May 19, 2009 2:40pm May 19, 2009 2:40pm
And this is almost the same. Divergence 1h+Triple TOp
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #30,462
  • May 19, 2009 2:48pm May 19, 2009 2:48pm
Quoting Forex007
Thanks for the clarification, Mike! From the perspective of money not coming from anywhere, I agree (indeed, if ALL trades on a particular day made profit, where would the money come from )
not quite sure what you mean there? If you have questions about some forex structure just shoot me a PM
  • #30,463
  • May 19, 2009 2:53pm May 19, 2009 2:53pm
Quoting Forex007
Not quite so with FX: there is certain (and not small) amount of non-trade transactions, i.e. when clients need to convert currencies irrespective of the rates to pay for large commercial orders to buy stock in local currencies.

Also, DarkStar (I believe) gave an example of one trader exiting, say, Long is(profitably) - on the other side of that transaction is a trader who is going Short (which could be profitable too), and so on.
On the Interbank down to the retail brokers, every buy order is filled by someone selling and vice versa. The buyer/seller might be the market maker matching your order or a bank or another trader etc. Doesnt mean If I buy off you and you have made profit then I have lost.
Economists have forecast 9 out of the last 5 recessions
  • #30,464
  • May 19, 2009 3:00pm May 19, 2009 3:00pm
Quoting ikki
And this is almost the same. Divergence 1h+Triple TOp
lol.. i agree, it could be a good place to be long??
i have slight divergence on my 4h chart but nothing to write home about. but i love the location and this pair loves to range
jon
PATIENCE... DISCIPLINE
  • #30,465
  • May 19, 2009 3:28pm May 19, 2009 3:28pm
Yes, it's in a good location. Look in the past how the PA reacted. I would like that the daily bar ends in a pinbar. But I don't know how will finish so I put my stop to BE.
Hey g_j, this is the divergence in 1h. I like clear divergence. So. if you see a divergence in a higher TF is more reliable.


Quoting g_j_hook@yah
lol.. i agree, it could be a good place to be long??
i have slight divergence on my 4h chart but nothing to write home about. but i love the location and this pair loves to range
jon
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #30,466
  • May 19, 2009 3:35pm May 19, 2009 3:35pm
Considering this usdjpy daily PB.
I know it doesn't protude too much, and its size is small, but makes a nice retracement from the S-H-S line and also from FIB 38, although 95.64 might be a problem ...
Thanks!
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Trading: the skill of avoiding trades
  • #30,467
  • May 19, 2009 3:40pm May 19, 2009 3:40pm
Hi, eswap.

I would not take this trade for the following reasons:

 

  1. Pin bar size is small (as you mentioned).
  2. Too much traffic.
  3. The previous bar looks like a BUOB.

Just my rookie opinion.

Quoting eswap0
Considering this usdjpy daily PB.
I know it doesn't protude too much, and its size is small, but makes a nice retracement from the S-H-S line and also from FIB 38, although 95.64 might be a problem ...
Thanks!
  • #30,468
  • May 19, 2009 3:40pm May 19, 2009 3:40pm
AUDCHF Nice I4b on the 4 hour for those interested.
Bundy's status today: "Waiting..."
  • #30,469
  • Edited 3:59pm May 19, 2009 3:41pm | Edited 3:59pm
Quoting ikki
Yes, it's in a good location. Look in the past how the PA reacted. I would like that the daily bar ends in a pinbar. But I don't know how will finish so I put my stop to BE.
Hey g_j, this is the divergence in 1h. I like clear divergence. So. if you see a divergence in a higher TF is more reliable.
yeah i see that now, it is also present in the 4h TF on my rsi.
cheers
jon
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PATIENCE... DISCIPLINE
  • #30,470
  • May 19, 2009 3:43pm May 19, 2009 3:43pm
Second and last one I am watching tonight: cadchf daily.
Not with the trend, but after rejection of FIB 61 and 50, as well as weekly PPZ @9590.
Any thoughts?
Thanks!
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Trading: the skill of avoiding trades
  • #30,471
  • May 19, 2009 3:49pm May 19, 2009 3:49pm
Quoting eswap0
Second and last one I am watching tonight: cadchf daily.
Not with the trend, but after rejection of FIB 61 and 50, as well as weekly PPZ @9590.
Any thoughts?
Thanks!
Not bad
Bundy's status today: "Waiting..."
  • #30,472
  • May 19, 2009 4:03pm May 19, 2009 4:03pm
Nothing for me tonight, except watching some Jims webinars
Economists have forecast 9 out of the last 5 recessions
  • #30,473
  • May 19, 2009 4:05pm May 19, 2009 4:05pm
hello everyone!
i am watching this setup and was wondering if you guys could comment.thanks for any reply.

maklla
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  • #30,474
  • May 19, 2009 4:06pm May 19, 2009 4:06pm
maybe the pin is too small?
  • #30,475
  • May 19, 2009 4:10pm May 19, 2009 4:10pm
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Toppy toppy, we'll see
  • #30,476
  • May 19, 2009 4:21pm May 19, 2009 4:21pm
Quoting Maklla
maybe the pin is too small?
yes this is simply an Inside Bar

Mike
  • #30,477
  • May 19, 2009 4:28pm May 19, 2009 4:28pm
This isn't a pinbar by my standards, but it's been talked about on the intraday charts, so we should include a daily too!

I like that it closed above 0.8800. I like that it's at a swing low and at some strong support.

I don't like that the close was in the middle of the bar.


I don't like all the FF problems lately. Having problems attaching a chart now.


Josh
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  • #30,478
  • May 19, 2009 5:42pm May 19, 2009 5:42pm
Quoting Jduester
I don't like all the FF problems lately. Having problems attaching a chart now.

Josh
The factory is under attack. It was in the blog. Some little smart ass is bombarding the server with what's called a "Denial of Service" attack . Has been happening since late last week. Eventually they'll give up.
Bundy's status today: "Waiting..."
  • #30,479
  • May 19, 2009 7:49pm May 19, 2009 7:49pm
Quoting bundyraider
AUDCHF Nice I4b on the 4 hour for those interested.
TP = PPZ @ 0.8480 ?
WARNING: Don't follow me as I'm just learning
  • #30,480
  • May 19, 2009 8:01pm May 19, 2009 8:01pm
Quoting bundyraider
The factory is under attack. It was in the blog. Some little smart ass is bombarding the server with what's called a "Denial of Service" attack . Has been happening since late last week. Eventually they'll give up.
Had to look that one up, gotta love wiki. I wonder why anyone would attack this site, maybe they found some 5 min system and lost a lot of cash lol. I really can't imagine. Personally, I think the whole internet needs to be redone, its become such a crapfest lately with 99 percent of everything either being spam, or some kind of virus. Its really only going to get worse too. Anyway, hope its resolved, got to love the FF
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