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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

  • #32,201
  • Jun 4, 2009 6:16am Jun 4, 2009 6:16am
Keeping my eye on this nice weekly Pinbar cooking on E/U Weekly.

Nice location, Nice candle formation (if it closes how it is now or better), and plenty of room to the south.

I will be looking to play this next week, if the opportunity arises.
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  • #32,202
  • Jun 4, 2009 6:19am Jun 4, 2009 6:19am
Quoting PipGator
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,...

Many thanks Pipgator, also to Jarroo, and Shermentator!

My first thought/memory that it was the EMA was right then Should have stuck to my guns (maybe that's a lesson in trading too). When I was searching through this large thread, ppl would often just refer to the "365", quite reasonably of course, but I wasn't sure which one, when thinking about it later.

Shermantator: you are right of course; stick to one.

Actually, I don't usually have MAs on my chart, but this one seems worth having on for sure. If it's not in the action, it's far away enough not to be a distraction. If it is near the action, then it's worth looking out for! (IME).

Thanks again guys,
Regards,
Mike
Regards, Mike Still learning my trade.
  • #32,203
  • Jun 4, 2009 6:20am Jun 4, 2009 6:20am
Quoting Ryanmcd
I think I am going to go for this as well, got some RSI divergence on the "2day" pin, small money just to have it show up on my sheet. Also I like that Gartley stuff, I have his $120 stock book for the 1920's and then I know Larry he re-worked his stuff about 15 years ago.

Ryan- I just use the "perfect Gartley" pattern for a reversal heads up. I use PA first and foremost. I do not pay much attention to any other pattern like bats or butterflies. The Dynamic fibs are just for confluence. Hope that helps.

K.I.S.S.
  • #32,204
  • Jun 4, 2009 6:20am Jun 4, 2009 6:20am
Quoting fxprocessor
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.
I have taken another entry of a touch of the 365 on a retrace of the beob. I like the fact that the bar broke before retracing. Small stop as per my last entry.
  • #32,205
  • Jun 4, 2009 6:27am Jun 4, 2009 6:27am
Quoting Ryanmcd
Okay, please let me know if this is good it sucks or anyway I can make it better, I will not get mad I will not cry or run away. Fire away
My only question is about the management of the trade. When will you move your SL to BE. This is different for everyone. A recurring theme here is "not allowing a winner to become a loser". I think that you and Jaroo touched on KILLING the trade when you feel it's not going to produce. The sooner I get my trade to free money the better.

K.I.S.S.
  • #32,206
  • Jun 4, 2009 6:33am Jun 4, 2009 6:33am
Quoting dengzhi
whoa that's a lot of lines on your chart, being a KISSfan i would think you would adhere to the "KISS" principle..
Point taken Dengzhi. However, once you understand J16 method it's all the same stuff. Simple to me because I look at it every day. The basics are there directly from this thread. Most of the other "noise" you are alluding to is created by the dynamic fibs which I use for confluence. Just like many others use MACD or other oscilators.

K.I.S.S.
  • #32,207
  • Jun 4, 2009 6:39am Jun 4, 2009 6:39am
Quoting jack.canadia
Why short at 4086? Why not higher?

I dont understand taking a short after a down-move occurs. Wait for like 4220/50 or something.
In this case I will take this trade at the break of the pin because I want price to breach the support area at approx 4100. Hope that helps.

K.I.S.S.
  • #32,208
  • Jun 4, 2009 6:43am Jun 4, 2009 6:43am
Quoting fxprocessor
I have taken another entry of a touch of the 365 on a retrace of the beob. I like the fact that the bar broke before retracing. Small stop as per my last entry.

Hey fxp have you ever tried a muti-time frame moving average? It shows for example, a 365 ema on the Daily on the 4 hour, Hourly or whatever time frame.
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Indicators show the past. Price Action "Indicates" the future.
  • #32,209
  • Jun 4, 2009 6:58am Jun 4, 2009 6:58am
Now that's A hard Break wowow Gbp/Usd.
Indicators show the past. Price Action "Indicates" the future.
  • #32,210
  • Jun 4, 2009 7:01am Jun 4, 2009 7:01am
Quoting jarroo
Now that's A hard Break wowow Gbp/Usd.
A "Heart" break hotel, if you will
Patience + Humility + Study = Success
  • #32,211
  • Jun 4, 2009 7:04am Jun 4, 2009 7:04am
Quoting DutchTrader
A "Heart" break hotel, if you will
Momentum building on the way up? lol

What News was that?
Indicators show the past. Price Action "Indicates" the future.
  • #32,212
  • Jun 4, 2009 7:05am Jun 4, 2009 7:05am
Quoting fxprocessor
I have taken another entry of a touch of the 365 on a retrace of the beob. I like the fact that the bar broke before retracing. Small stop as per my last entry.
Sweet entry on that one fxp.
Indicators show the past. Price Action "Indicates" the future.
  • #32,213
  • Jun 4, 2009 7:05am Jun 4, 2009 7:05am
Quoting jarroo
Now that's A hard Break wowow Gbp/Usd.
after daily beovb break wait for 38/50 fib and ppz retr. (confluence) stop above 61, short, boooom....
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  • #32,214
  • Jun 4, 2009 7:08am Jun 4, 2009 7:08am
Quoting jarroo
Momentum building on the way up? lol

What News was that?
Sure wish I knew what "they" knew when they knew it...LOL
Ghost Rider - WWTBMD?
  • #32,215
  • Jun 4, 2009 7:08am Jun 4, 2009 7:08am
Quoting raczekfx
after daily beovb break wait for 38/50 fib and ppz retr. (confluence) stop above 61, short, boooom....
+ 365 ema, . . The power of mutli confluences. and a crystal ball. lol
Indicators show the past. Price Action "Indicates" the future.
  • #32,216
  • Jun 4, 2009 7:12am Jun 4, 2009 7:12am
Cable drops 200points on rumours of Uk gordon browns resignation.
  • #32,217
  • Jun 4, 2009 7:12am Jun 4, 2009 7:12am
Quoting raczekfx
after daily beovb break wait for 38/50 fib and ppz retr. (confluence) stop above 61, short, boooom....

Sick trade mate...

I got it in the eurusd

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  • #32,218
  • Jun 4, 2009 7:15am Jun 4, 2009 7:15am
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Nice divergence at 50/61.8 retrace, played below mid BB and took 3/4ths at lower BB, used it against stop, gunning for 139 on last lot. Took position on gbp/usd, and eur/jpy too different trades, similar R:R.
  • #32,219
  • Jun 4, 2009 7:18am Jun 4, 2009 7:18am
Quoting ephisi
Cable drops 200points on rumours of Uk gordon browns resignation.
Or word got out about the quality PA BEOB on the Daily Cable on the James16 Chart Thread.


Just kidding ephisi. lol thanks.
Indicators show the past. Price Action "Indicates" the future.
  • #32,220
  • Jun 4, 2009 7:28am Jun 4, 2009 7:28am
wasn't the bank of england/central european bank announcing interest rates? I figured it was that.
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