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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

  • #33,081
  • Jun 10, 2009 4:09pm Jun 10, 2009 4:09pm
Quoting Ryanmcd
Jarroo, am I thinking right on this as a short due to PPZ and fib #'s?
Yes, you were thinking right on this one, Ryan. High momentum can cut through a lot of traffic. ( I and rustyjeff advised about the traffic on this setup.)
Indicators show the past. Price Action "Indicates" the future.
  • #33,082
  • Jun 10, 2009 4:10pm Jun 10, 2009 4:10pm
Quoting jarroo
While you where sitting on your hands I was thinking "Mark is all over this one". lol
I wish. I didn't dare to trade against Jim's son...
  • #33,083
  • Jun 10, 2009 4:14pm Jun 10, 2009 4:14pm
Quoting raczekfx
Painful memories...
I remember sitting on my hands when price hit 8850, touched the mouse, sat on my hands again, touch the mouse again...etc... Infested my brain with some nonsense post, which read that fiber is aiming at 150. Never traded.
Reading forums can poison your brain sometimes....lol

will we finally break this ej - 3 week trend over the next 2-3 days and get continuation-south on nu...
.
I know you are headed back to the batcave Rac but I appreciate your posts today. I have been going back over many of your charts for months and have done pretty well with demoing the 4 hr TF (I trade money almost exclusively off daily/weekly charts) with this model------- Combine PA with the 50/61.8 and the 150/365 ema. Look for a seam for price to fit through and run. Once I get comfortably proficient with this method, I'll add it to my live acct then start practicing entry on the 4 hr using confluence and watching the lower tf's for price action on entry. I like the low risk of entering that way.


K.I.S.S.
  • #33,084
  • Jun 10, 2009 4:15pm Jun 10, 2009 4:15pm
Quoting raczekfx
I wish. I didn't dare to trade against Jim's son...
Your right. Although he was looking at the 89.
Indicators show the past. Price Action "Indicates" the future.
  • #33,085
  • Jun 10, 2009 4:18pm Jun 10, 2009 4:18pm
Quoting Jlr
Oh right on, a little guy trading, that's pretty cool. How's he doing, does he post here at all? I guess he wouldn't need to much, considering he probably just has to walk into the next room for help. Good stuff
No, he's not posting . . Yet. How cool would that be.
Indicators show the past. Price Action "Indicates" the future.
  • #33,086
  • Jun 10, 2009 4:22pm Jun 10, 2009 4:22pm
Quoting KissFan
have been going back over many of your charts for months and have done pretty well with demoing the 4 hr TF (I trade money almost exclusively off daily/weekly charts) with this model------- Combine PA with the 50/61.8 and the 150/365 ema. I like the low risk of entering that way.


K.I.S.S.
Glad to hear that K.
You can't lose much money trading that way as long as you keep your stop fairly tight. If I remember correctly from my back and forward testing, this method gives you more that 80% W/L ratio off of daily.
No point of posting much if nothing has changed.....

Quoting jarroo
Your right. Although he was looking at the 89.
My sl would've been 8930
  • #33,087
  • Jun 10, 2009 4:23pm Jun 10, 2009 4:23pm
Quoting KissFan
I know you are headed back to the batcave Rac but I appreciate your posts today. I have been going back over many of your charts for months and have done pretty well with demoing the 4 hr TF (I trade money almost exclusively off daily/weekly charts) with this model------- Combine PA with the 50/61.8 and the 150/365 ema. Look for a seam for price to fit through and run. Once I get comfortably proficient with this method, I'll add it to my live acct then start practicing entry on the 4 hr using confluence and watching the lower tf's for price action...
I agree. Thanks Mark.

"Look for a seam for Price to fit through and run" . . or bounce.
Nice line, KF.
Indicators show the past. Price Action "Indicates" the future.
  • #33,088
  • Jun 10, 2009 4:29pm Jun 10, 2009 4:29pm
Quoting jarroo
I agree. Thanks Mark.

"Look for a seam for Price to fit through and run" . . or bounce.
Nice line, KF.
Yeah I know. Kind of a football theme for trading.

K.I.S.S.
  • #33,089
  • Jun 10, 2009 4:30pm Jun 10, 2009 4:30pm
Quoting raczekfx

My sl would've been 8930
I knew it! lol
Indicators show the past. Price Action "Indicates" the future.
  • #33,090
  • Jun 10, 2009 4:32pm Jun 10, 2009 4:32pm
Quoting KissFan
Yeah I know. Kind of a football theme for trading.

K.I.S.S.
I like it. Sometimes a player runs through it and sometimes they hit a brick wall.
Indicators show the past. Price Action "Indicates" the future.
  • #33,091
  • Jun 10, 2009 4:42pm Jun 10, 2009 4:42pm
Quoting james16
tough to see you lose on this one jd after the nice outside bar short on the daily.

where is the 365 ema on your daily chart at?

its at 6393 on mine.
if it works with your risk profile 6400 might hold as resistance.

jim
Hello for the first time!

I've been trying a few things with forex markets for a month, some reading, some research, found myself a broker, opened a small account and then found this thread just before I could do something really stupid. And for that I shall be eternally grateful.

I'm reading it from both ends and it will take a while. Have tried a few demo trades as well (my live accound stayed untouched) and you can see the difference immediately.

But here is my first question. I have managed to get into that weekly GBPUSD pin just before it retraced and then watched the price go almost to my stop at 1.65 which is past every obstacle I could think of except the very top of the pinbar. But then Jim mentioned the 365 EMA at 1.6393. This moving average is on all my charts, its 365 period exponential applyed to close. But on my chart it's nowhere near that location. It's just above 1.67 which I think is a lot of difference. Are we talking about the same thing here or have I mixed something up? It can't be just different broker feeds, I mean it's a big difference. My clean chart with just this 365 is attached.

Any help would be greatly appreciated.

Primi
Attached Image (click to enlarge)
Click to Enlarge Name: 365ema.gif Size: 20 KB
  • #33,092
  • Jun 10, 2009 4:46pm Jun 10, 2009 4:46pm
Quoting Primi
Hello for the first time!

I've been trying a few things with forex markets for a month, some reading, some research, found myself a broker, opened a small account and then found this thread just before I could do something really stupid. And for that I shall be eternally grateful.

I'm reading it from both ends and it will take a while. Have tried a few demo trades as well (my live accound stayed untouched) and you can see the difference immediately.

But here is my first question. I have managed to get into that weekly GBPUSD pin just...
Welcome Primi. Jim was speaking of the daily chart. Check it out. http://www.forexfactory.com/showthre...14#post2790914 You may also want to use the 150 ema for the same purposes.

K.I.S.S.
  • #33,093
  • Jun 10, 2009 4:53pm Jun 10, 2009 4:53pm
Quoting KissFan
Welcome Primi. Jim was speaking of the daily chart. Check it out. http://www.forexfactory.com/showthre...14#post2790914 You may also want to use the 150 ema for the same purposes.

K.I.S.S.

Thank you, yes I am using both 150 and 365. And it is a daily chart, that's what's bothering me.

Primi
  • #33,094
  • Jun 10, 2009 4:54pm Jun 10, 2009 4:54pm
Quoting Primi
Hello for the first time!

I've been trying a few things with forex markets for a month, some reading, some research, found myself a broker, opened a small account and then found this thread just before I could do something really stupid. And for that I shall be eternally grateful.

I'm reading it from both ends and it will take a while. Have tried a few demo trades as well (my live accound stayed untouched) and you can see the difference immediately.

But here is my first question. I have managed to get into that weekly GBPUSD pin just...
Hey Primi

Welcome to the thread, many many many of us wish we found James as early as you. Happy for you that you did.

EMAs may vary broker to broker. Some brokers do not have the sunday bar which will shift the EMA. It is not Magic in and of itself, but simply another "tool" to be aware of of possible areas that have other confluence or reasons price may "react" around.

Hope to see you asking many questions

Mike
  • #33,095
  • Jun 10, 2009 5:01pm Jun 10, 2009 5:01pm
Quoting Primi
Thank you, yes I am using both 150 and 365. And it is a daily chart, that's what's bothering me.

Primi
Sorry 'bout that Primi. Well at least you are getting a good idea of who to listen to on this thread. I can see it now ---------Primi pulls K.I.S.S.fan off his buddy list and replaces it with mbqb11------. That would be your first winning trade there bro!

K.I.S.S.
  • #33,096
  • Jun 10, 2009 5:07pm Jun 10, 2009 5:07pm
Primi, I agree with KissFan, take him off your buddy list..


Just kidding.. :-)
  • #33,097
  • Jun 10, 2009 5:09pm Jun 10, 2009 5:09pm
Quoting KissFan
Sorry 'bout that Primi. Well at least you are getting a good idea of who to listen to on this thread. I can see it now ---------Primi pulls K.I.S.S.fan off his buddy list and replaces it with mbqb11------. That would be your first winning trade there bro!

K.I.S.S.
No problem. We were just testing if They were paying attention.

Primi.
  • #33,098
  • Jun 10, 2009 5:21pm Jun 10, 2009 5:21pm
Quoting Primi
Hello for the first time!


..... But on my chart it's nowhere near that location. It's just above 1.67 which I think is a lot of difference. Are we talking about the same thing here or have I mixed something up? It can't be just different broker feeds, I mean it's a big difference. My clean chart with just this 365 is attached.

Any help would be greatly appreciated.

Primi
Hi Primi,
I'm in the trade too and my 365ema is in the same place as yours.
I'm hoping today's daily pin puts an end to the retracement up the last weekly bar.
If you can wait and not be tired by waiting...
  • #33,099
  • Jun 10, 2009 5:26pm Jun 10, 2009 5:26pm
Quoting KissFan

K.I.S.S.
kiss is the man
  • #33,100
  • Jun 10, 2009 5:28pm Jun 10, 2009 5:28pm
Quoting HipsterPipster
Primi, I agree with KissFan, take him off your buddy list..


Just kidding.. :-)
Shucks! That's about right HP. The only way I get on anyone's buddy list is if they are brand new!

Just havin' a little fun Primi. Welcome to James16 chart thread. Please let me know if I can help you anytime.

Best -

K.I.S.S.
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