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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

  • #34,481
  • Jun 23, 2009 12:48pm Jun 23, 2009 12:48pm
Quoting ghous
Ah I see, I guess it's a term used in the pf cuz I haven't heard it here...

So what do we call strong bull pressure, a rising rocket or what?


Hehe, just another way to view momentum for me. When I see strong moves, I don't like to try to play a reversal on small momentum the other way. I like to see some equal weight to a bar(which can mostly be seen in size, and of course location). But the smaller bars, just have to be more conservative, get those stops up, or out with smaller profit(or aware of those closer trouble areas).

Again just from my experience

Mike
  • #34,482
  • Jun 23, 2009 12:49pm Jun 23, 2009 12:49pm
Quote
Easy Guys, I don't know why sometimes others need to judge anyone. We are all here for the same motivations. Lets keep this civil and about learning. Everyone is welcome to do what works for them, that is the beauty of life and the markets
I'd second this statement from Mike,

Everybody here needs a fair chance to delineate themselves properly...

@ BOB:

What we do here is not bogus nor some silly combination of R:R. Begin from the beginning and see if you want to assimilate the stuff, otherwise move on. No point in pointless debates of how wrong we are and/or how right you are.

Regards,
Ghous.
I believe . . .
  • #34,483
  • Jun 23, 2009 12:50pm Jun 23, 2009 12:50pm
Quoting mbqb11


Hehe, just another way to view momentum for me. When I see strong moves, I don't like to try to play a reversal on small momentum the other way. I like to see some equal weight to a bar(which can mostly be seen in size, and of course location). But the smaller bars, just have to be more conservative, get those stops up, or out with smaller profit(or aware of those closer trouble areas).

Again just from my experience

Mike
yeah of coarse.

Thanks.
I believe . . .
  • #34,484
  • Jun 23, 2009 12:52pm Jun 23, 2009 12:52pm
Quoting teodosy87
Hey Ghous which broker do you use : }
Fxopen.
I believe . . .
  • #34,485
  • Jun 23, 2009 12:53pm Jun 23, 2009 12:53pm
Quoting ghous
Fxopen.
  • #34,486
  • Jun 23, 2009 1:04pm Jun 23, 2009 1:04pm
Quoting mbqb11


Hehe, just another way to view momentum for me. When I see strong moves, I don't like to try to play a reversal on small momentum the other way. I like to see some equal weight to a bar(which can mostly be seen in size, and of course location). But the smaller bars, just have to be more conservative, get those stops up, or out with smaller profit(or aware of those closer trouble areas).

Again just from my experience

Mike
Hi Mike
I presume you are talking about the GBP/CHF.
Is it not on an uptrend in H4?
  • #34,487
  • Jun 23, 2009 1:10pm Jun 23, 2009 1:10pm
Quoting the novice
Hi Mike
I presume you are talking about the GBP/CHF.
Is it not on an uptrend in H4?
Hey Novice

Yes you are correct, we have been in a recent uptrend. But when I am trading a timeframe like the H1/H4. I consider this intraday and am very much concerned with the "recent" action. If you look prior to this smaller pin we see very strong bearish bars after strong bullish bars. This doesn't necessarily bias me against going long off this area, but I like to see something that is comprable to the "bigger" recent bars. I am not sure if this makes sense, in my head it does lol. Overall I see this pair has topped out for now, and if 1.75 doesn't hold then we are starting to turn over even more. I don't really get to bias, I more or less look at what the chart tells me at this time. So again, this pin might work out just fine, but IMO it is not one to get carried away with. We must be prepared at these first areas to take some sort of action(b/c of the large h4 bars).

Hope that makes sense
Mike
  • #34,488
  • Jun 23, 2009 1:14pm Jun 23, 2009 1:14pm
hey ghous!!

I have seen in your recent post that you have an sell order just above the high of the PB, dosen't we play them on the brake of the low.
Or you have played instead a bounce of the previw resitence ( it was tested the previw high from the left) this is what you are doing?

thanks!
  • #34,489
  • Jun 23, 2009 1:21pm Jun 23, 2009 1:21pm
Quoting mbqb11
Hey Novice

Yes you are correct, we have been in a recent uptrend....
Hi Mike,

enjoy your posts. any thoughts on this pin on eur/gbp 4H.

Pros:

 

  1. in direction of trend
  2. bounce off PPZ and round number 0.8600

Cons:

 

  1. larger bullish 4H bar earlier today
  2. euro has been strong over last 24/36 hours.

Thanks!

Attached Image
  • #34,490
  • Jun 23, 2009 1:27pm Jun 23, 2009 1:27pm
Quoting Dropped Onion
Hi Mike,

enjoy your posts. any thoughts on this pin on eur/gbp 4H.

Pros:

 

  1. in direction of trend
  2. bounce off PPZ and round number 0.8600

Cons:

 

  1. larger bullish 4H bar earlier today
  2. euro has been strong over last 24/36 hours.

Thanks!

Hey Dropped Onion(how you came to that name I would love to know LOL)

I am a bit picky with the types of bars I take on the lower timeframes, this is part of my need for using larger round numbers. For example this is a pin with the trend, but still not one I would take. I don't like how the high of the last pin a week back wasn't tested. I usually like to see those areas tested and rejected and run on. If you notice the first pin, was a nice large nose that stuck out far past the previous bar highs. This one has the previous bars high sitting high up on the bar, which I don't love(compared to that first one is much more clean). Also there was a bullish pin yesterday at a swing low(tested a new low), in space, with great divergence. This is the better confluence trade.

Again, just b/c I wouldn't personally take it doesn't make it not tradeable(part of developing what works for you and doesn't). But we can still with a high probability determine likely areas that price may bounce, or at least trouble areas. Here is a chart


Hope that helps off to the gym back soon!

Mike
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  • #34,491
  • Jun 23, 2009 1:31pm Jun 23, 2009 1:31pm
Quoting mbqb11
I usually like to see those areas tested and rejected and run on.
Mike, don'y you see it that way (chart enclosed)?
Attached Image (click to enlarge)
Click to Enlarge Name: PPZ.png Size: 78 KB
One Chart is Worth Ten Thousand Words.
  • #34,492
  • Jun 23, 2009 1:34pm Jun 23, 2009 1:34pm
Quoting triger88990
hey ghous!!

I have seen in your recent post that you have an sell order just above the high of the PB, dosen't we play them on the brake of the low.
Or you have played instead a bounce of the previw resitence ( it was tested the previw high from the left) this is what you are doing?

thanks!
The latter part is correct. Something's wrong with my live account, the platform is freezing so I choose not to take any live conventional trades I trade James stuff on the daily time frame anyways, the sell order you see was a blind entry off the resistance on a demo account.

Regards,
Ghous.
I believe . . .
  • #34,493
  • Jun 23, 2009 1:37pm Jun 23, 2009 1:37pm
Quoting raczekfx
I offered Ryan my koenigsegg for free (too much snow here) and he refused to take it. Being happy is not about money and cars...
yeah it's abt cool jets, crystal balls and a myriad number of envious fans.

I believe . . .
  • #34,494
  • Jun 23, 2009 1:45pm Jun 23, 2009 1:45pm
Quoting ghous
yeah it's abt cool jets, crystal balls and a myriad number of envious fans.

Jets and warbirds for sure....

a couple of charts.
1. waiting for crude to hit resistance before taking short positions on e/u and g/u (yes short positions), contrary to $ gloom and doom scenarios being spread around by your friendly news casters on FF.

2. dj sitting on resistance and normally I'd be buying yen crosses as fast as I could press on mouse button, but not today. Something just doesn't add up and I would not be surprised to see dj at much, much lower levels in the next two months. We'll see.

.
Attached Images
  • #34,495
  • Jun 23, 2009 1:50pm Jun 23, 2009 1:50pm
Mark, tomorrow is FOMC Statement. So you will wait after that event.?

Quoting raczekfx
..................

2. dj sitting on resistance and normally I'd be buying yen crosses as fast as I could press on mouse button, but not today. Something just doesn't add up and I would not be surprised to see dj at much, much lower levels in the next two months. We'll see.

.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #34,496
  • Jun 23, 2009 1:56pm Jun 23, 2009 1:56pm
Quoting ikki
So you bought it... LOL ...
no, I didn't.

and while we're at tracing. I remember back few years ago a couple of my friends tried to trace infamous 'vegas' when he took their money and disappeared.
They didn't succeed as they found out he was using ssl tunnels from service in Lichtenstein
  • #34,497
  • Jun 23, 2009 2:00pm Jun 23, 2009 2:00pm
Is that the Big Brother or my colleagues playing up: all Bob's posts as well as our rants re him have just vanished...

Thank you, Jim!
One Chart is Worth Ten Thousand Words.
  • #34,498
  • Jun 23, 2009 2:00pm Jun 23, 2009 2:00pm
Quoting ikki
Mark, tomorrow is FOMC Statement. So you will wait after that event.?
It might be a good idea. US based crosses should slowly inch lower until fomc, but what happens after is hard guess. One of my friends has mentioned to be very cautious as fiber might shoot up a couple of hundred pips right after the news and then get slaughtered. Who knows....
We'll have to wait and see.
  • #34,499
  • Jun 23, 2009 2:08pm Jun 23, 2009 2:08pm
Quoting raczekfx
no, I didn't.

and while we're at tracing. I remember back few years ago a couple of my friends tried to trace infamous 'vegas' when he took their money and disappeared.
They didn't succeed as they found out he was using ssl tunnels from service in Lichtenstein
It's not that easy to "disappear" these days, although can be done: there are pros out there who can help to hide (basically, the same people who built carreers out of finding people ); but it's not worth any amount of money - who wants to look over his shoulder all the time for the rest of his/her (miserable) life. If the amount of money is big, there are very limited places in the world where one can spend it freely without getting noticed, sooner or later. It's just the matter of time and money (mainly, the latter).
One Chart is Worth Ten Thousand Words.
  • #34,500
  • Jun 23, 2009 2:15pm Jun 23, 2009 2:15pm
Quoting mbqb11
Hey Dropped Onion(how you came to that name I would love to know LOL)

I am a bit picky with the types of bars I take on the lower timeframes, this is part of my need for using larger round numbers....
Interesting analysis Mike. I hadn't looked at things quite that way in the past... still learning
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