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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

  • #32,181
  • Jun 4, 2009 12:47am Jun 4, 2009 12:47am
Great stuff all round guys!

I have to leave for my exam in an hour...and can't be a part of this frenzy,

C ya,

Ghous.
I believe . . .
  • #32,182
  • Jun 4, 2009 12:51am Jun 4, 2009 12:51am
Quoting ghous
Great stuff all round guys!

I have to leave for my exam in an hour...and can't be a part of this frenzy,

C ya,

Ghous.
You know there's more just around the corner with your name on them, ghous.
Indicators show the past. Price Action "Indicates" the future.
  • #32,183
  • Jun 4, 2009 12:56am Jun 4, 2009 12:56am
Quoting jarroo
Absolutely g_j_. The Weekly developing potential PB may be the strength we need to push it lower.

Or this confluenced level you have shown (1.6200-1.600) may hold up and we look for bullish PA.

Very nice.

Jim
thanx. this brings me perfectly to my next q.
i am also short gb/chf from a 1h BEOB on the oanda feed(i dont get it on my mt4 feed)again my stop is at BE with my trailing st. a little beind my entry(i will bring it into play if price continues to fall)
the problem i have is that this is a CT trade and i would rather look for entries to go long when this retrace?? is over.atleast im pretty bullish longer term. now disregarding if this view is a good one or not i would like to ask you seniors how you would go about planning for a long entry in this situation. im sure rac would buy the lowest price of the week when he goes long!!unfortunatly i dont have his crystle ball so im left feeling like i havent got a decent plan for the trade(if it happens)do you simple wait for the pa to guide you?? any insight would be appreciated.
cheers
jon
i love the look of that weekly pin so far also

GOOD LUCK GHOUS..not that youlle need it
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PATIENCE... DISCIPLINE
  • #32,184
  • Jun 4, 2009 1:02am Jun 4, 2009 1:02am
Quoting fxprocessor
A few interesting setups unfolding.
I only took the cable trade in the end.

BEOB @ swing high.
Big round number,
365 EMA
38 fib confluence.

Target 1.6010 Stop 1.6515.
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  • #32,185
  • Edited 1:07am Jun 4, 2009 1:06am | Edited 1:07am
Trade I took today based on the daily BEOB.

Stops both at BE, 1/3 T1 of 0.5R taken. 1/3 [email protected] pending and the last 1/3 with a 50 pip trailing attached.

So many set ups today.

EDIT: stopped out at BE on one of the entries. Didnt' have them at exactly the same level due to bad timing on my behalf. Still 1/3 in this trade
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  • #32,186
  • Edited 2:46am Jun 4, 2009 1:57am | Edited 2:46am
Quoting jarroo
Nice break on the Gbp/Usd Daily BEOB. I do not think the blue line represents a problem. Just Daily High/Low.

Price Action Rules.
Boy, did I underestimate that level. Out at break even.

Still in the Gbp/Chf. Edit: Not any more, able to grab 53 on half and out at break even.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #32,187
  • Jun 4, 2009 2:04am Jun 4, 2009 2:04am
It's always nice to read when someone has placed a trade that is well thought out. Clear concise thinking, not being attached to any trade and knowing what to expect (TP1,TP2,TP3, draw down etc).

Great to read that you will be hanging around a lot longer.

MM

Quoting Ryanmcd
***
To me time and price go hand in hand, a stalled trade for me most of time is changing trend is looking to stop me out, remember you can always get back in as I did yesterday 3 min after I got stopped out on the 1min chart.
The greatest achievements are those that benefit others....
  • #32,188
  • Jun 4, 2009 3:41am Jun 4, 2009 3:41am
Quoting arcus
It would be a nice trade Jarroo though I missed it too. I entered on the hourly PB (pardon me for posting hourly chart).

1.6000 seems to be a nice spot and area of interest (imho). Since it breaks the daily BEOB (nice location imho), I tend to hold this one and hopefully it does not retrace too early Anyway, it's already a free trade.

Have a goodnite/day everyone

Quote of the day: Learn to let go, and you will trade like you have wings.
Welcome back!
  • #32,189
  • Jun 4, 2009 4:24am Jun 4, 2009 4:24am
Quoting supremeChaos
Ryanmcd,
since u've been quite respectful with your above posts, I'll be gentle & non-sarcastic.
I only used 2 colors, not 10. (black is the default color so it does not count)

Color is life & life is color. i'm a little younger than u (+/-6 years younger to be precise) but my boredom level is quite high (boredom-averse). to me, seeing a sea of black in all the threads is boring. i decided to put colors & variations/add-ons...
I've always kept my mouth shut about this, because I thought I simply don't have to tell anyone about how they should format their posts here.

But now since ryan mentioned it I just have to... I'm following along here for a while now and my eyes always hurt whenever I see one of your posts, so I never read them but I still find them very annoying because they distract me a lot here. If you want to do something not boring here then concentrate on class-A content.

I like you, and I'd probably even read your posts sometimes and this really is no offense, but the way you format your posts are fucking my brain, seriously.
  • #32,190
  • Jun 4, 2009 4:45am Jun 4, 2009 4:45am
Come on kids ... play nice ... The choice of crayon doesn't offend me. But Marco, your choice of language does.
Ghost Rider - WWTBMD?
  • #32,191
  • Jun 4, 2009 4:58am Jun 4, 2009 4:58am
your formatting doesnt bother me, we have colorful charts here so we might as well have colorful words too. but what does bother me is the qty of posts that you make. i like you, i think youre a cool guy, i think you have some good things to say, but i dont think it is necessary to reply to as many posts as you do. so dont take all this constructive criticism too seriously, & i hope you stick around.
  • #32,192
  • Jun 4, 2009 4:59am Jun 4, 2009 4:59am
Quoting albchr
Come on kids ... play nice ... The choice of crayon doesn't offend me. But Marco, your choice of language does.
yeah, as albchr said , watch your language, its best not to start somehting u cant finish, this thread is very peaceful...pls lets keep it that way
Simplicity is the key to success
  • #32,193
  • Jun 4, 2009 5:03am Jun 4, 2009 5:03am
Quoting albchr
Come on kids ... play nice ... The choice of crayon doesn't offend me. But Marco, your choice of language does.
Yes, I'm sorry. Sometimes I can't help it. I'm a nice, friendly guy but my language issn't always. But I didn't mean it in a unfriendly way, really...it's just the way my brain ticks...(which is a lame excuse...I admit it)
  • #32,194
  • Jun 4, 2009 5:21am Jun 4, 2009 5:21am
Quoting jarroo
Daily Gbp/Chf BEOB with divergence.
and

Quoting jarroo
Nice break on the Gbp/Usd Daily BEOB. I do not think the blue line represents a problem. Just Daily High/Low.

Price Action Rules.
Hi Jarroo

Is your stop behind the high of these 2 daily BEOB's, or are you dropping down to the 4h (or another TF) looking for price action?

Just trying to further understand and learn from your trades and the R:R implications.

Thanks

Adam
WARNING: Don't follow me as I'm just learning
  • #32,195
  • Jun 4, 2009 5:28am Jun 4, 2009 5:28am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Class - now sit down and be quite, were here to learn not bitch and whine.

I think this thread is long enough without posts that haven't been put through the 'if he said that to me i'd be pissed of filter'

choices in these situations are to PM the issue, not post public saves others jumping on the bully wagon.

I've seen to many good traders disappear and threads die due to things getting out of hand.

you will all stay after school in detention and write me 100lines.

you could also all remove the offending posts and Pm each other (shake hands and make up)
  • #32,196
  • Jun 4, 2009 5:43am Jun 4, 2009 5:43am
Hello Traders,

I've been a long-time fan of this thread, although have rarely if ever posted.

I decided to re-read (or re-re-...read) it from the beginning, and just realised I'd made a bit of a boob.

For some reason, I thought Jim had recommended using a 365 EMA.
On re-reading, it seems like it should be a 365 SMA. When I have read forward looking for confirmation, I can't find it, although I'm sure it's there somewhere.

Well, I should of course, try both, and I've tried swapping between on the same chart, and it's interesting, because in some situations, one is better than the other and vice-versa.

I suppose I should be able to work out for myself which one should be better, and why, but I can't quite get my head around this. I know the EMA is more biased towards later prices, but I can't quite see if this is worse or better in terms of Jim's strategy.

Sorry if this is a question more for the PF (I'm not a member, but I hope to be one day), but if anyone would like to comment, I'd be grateful.

Jim if you are around, it's time for me to add my thanks to those of many others. This is a thread in a million.

Kind Regards,
Mike
Regards, Mike Still learning my trade.
  • #32,197
  • Jun 4, 2009 5:49am Jun 4, 2009 5:49am
Quoting montmorency
Hello Traders,

I've been a long-time fan of this thread, although have rarely if ever posted.

I decided to re-read (or re-re-...read) it from the beginning, and just realised I'd made a bit of a boob.

For some reason, I thought Jim had recommended using a 365 EMA.
On re-reading, it seems like it should be a 365 SMA. When I have read forward looking for confirmation, I can't find it, although I'm sure it's there somewhere.

Well, I should of course, try both, and I've tried swapping between on the same chart, and it's interesting, because...
Just stick to one...their is unlimited amount of moving averages. Its not the one you use is what you do with them and that you stick with them. Your trying to figure whats better and their is no such thing.
  • #32,198
  • Jun 4, 2009 5:51am Jun 4, 2009 5:51am
Quoting adam777
and



Hi Jarroo

Is your stop behind the high of these 2 daily BEOB's, or are you dropping down to the 4h (or another TF) looking for price action?

Just trying to further understand and learn from your trades and the R:R implications.

Thanks

Adam
My initial stops were 40 pips away from the break of each trade. Once Price broke and gave up 30 pips I moved my stops to break even. (better seen on the Hourly charts). The setup looked strong for a nice run. And they still do.

But I let the G/U stop out at break even and on the G/C I was able to grab some off the 1st half position on the other half stopped out at break even.
I look at these setups to be in the "A" catagory but I'm not will to take any draw down. Its just my style of trading Price Action. If a quality bearish PA is presented on the 4 hour and/or Daily I will repeat above.

Did you see this post: http://www.forexfactory.com/showpost...ostcount=32120
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Indicators show the past. Price Action "Indicates" the future.
  • #32,199
  • Jun 4, 2009 6:05am Jun 4, 2009 6:05am
Quoting montmorency
Hello Traders,

I've been a long-time fan of this thread, although have rarely if ever posted.

I decided to re-read (or re-re-...read) it from the beginning, and just realised I'd made a bit of a boob.

For some reason, I thought Jim had recommended using a 365 EMA.
On re-reading, it seems like it should be a 365 SMA. When I have read forward looking for confirmation, I can't find it, although I'm sure it's there somewhere.

Well, I should of course, try both, and I've tried swapping between on the same chart, and it's interesting, because...
Here you go. Its the 365 ema.

http://www.forexfactory.com/showpost...postcount=1005
Indicators show the past. Price Action "Indicates" the future.
  • #32,200
  • Jun 4, 2009 6:09am Jun 4, 2009 6:09am
Hi, montmorency.

I believe the 365 EMA is the most commonly used MA in this thread. There are many posts in the earlier part of the thread discussing this. Unfortunately, I do not have links to most of the posts discussing EMAs. I do however have the post numbers in this thread of many posts discussing EMAs.

Post #646 discusses the use of 365 EMA as a possible area for price to bounce (link provided).

post# 102, post# 258, post# 646, post# 648, post# 652, post# 1816, post# 1854, post# 2190, post# 2434, post# 2798 and post# 3433 also discuss MAs. If you search for these posts, I am sure that you will have a good grasp of how MAs are used by some of the senior members of this thread, including Jim.

Edit: Looks like jarroo beat me to it!

Quoting montmorency

For some reason, I thought Jim had recommended using a 365 EMA.
On re-reading, it seems like it should be a 365 SMA. When I have read forward looking for confirmation, I can't find it, although I'm sure it's there somewhere.

Kind Regards,
Mike
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