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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

  • #35,261
  • Jun 27, 2009 11:23am Jun 27, 2009 11:23am
Quoting joebryce
I have done that and been erased. I'm sure that's coming here as well. I guarantee you the warming talk is offending some as well. As Jim put it so well. I know this bothers people, oh well, it's important.
Kindly leave it Joe,

This is not the place for it...
I believe . . .
  • #35,262
  • Jun 27, 2009 11:29am Jun 27, 2009 11:29am
Quoting ghous
Ok. I am either too dumb or you guys are way too smart.

What proof do you have for this?
Your not dumb. The propaganda machine is extremely effective. Once you realize it exists and begin to see how it works....We are living in a time were perceptions are manufactured and have diverged significantly from reality. My avatar is a depiction of what is to come when reality catches up.

This is an old story so I obviously don't have proof in front of me. Patents and their expirations are publicly available. Those who lobbied at the time can be easily connected to the producer of CFC's.
  • #35,263
  • Jun 27, 2009 11:30am Jun 27, 2009 11:30am
Quoting ghous
Kindly leave it Joe,

This is not the place for it...
This makes me sad for humanity. Like the Mother who gets angry at someone for accusing her husband of abusing her children.
  • #35,264
  • Jun 27, 2009 11:32am Jun 27, 2009 11:32am
Come on guys cut the OT crap, 1-2-3 posts is okay not 3-4 pages. I do NOT want to waste my weekend reading this crap.
Keep taking CT trades, I need more money
  • #35,265
  • Jun 27, 2009 11:34am Jun 27, 2009 11:34am
Quoting joebryce
This makes me sad for humanity. Like the Mother who gets angry at someone for accusing her husband of abusing her children.
Aha, so it's you!
  • #35,266
  • Jun 27, 2009 11:38am Jun 27, 2009 11:38am
Come on guys, focus. This site is called Forex Factory, and this thread is in the interactive trading forum. Lets mainly stick to discussing trading the forex market. (I know, crazy idea.....)
skype: ststroud. let's talk trading.
  • #35,267
  • Edited 12:00pm Jun 27, 2009 11:58am | Edited 12:00pm
Quoting Vourvoul
Aha, so it's you!
You got me! I'm a proud and devoted, full-time, stay home, trading DAD. Only I'm the type who would KILL her spouse if I found out he/she was abusing.

edit: don't take that wrong, I'm really a pacifist
  • #35,268
  • Jun 27, 2009 12:00pm Jun 27, 2009 12:00pm
I wanted to post a chart that shows the relationship between the 9/11 conspiracy and global warming. Just kidding, it's a CHF/JPY daily chart with an I4B.

Pros:

 

  1. Price is at a strong PPZ near 88.00.
  2. 23.6 Fib
  3. 200 EMA
  4. Diagonal Trend Line
  5. Price has been trending upwards for about 6 months.

Cons:

 

  1. Lots of traffic: Price was consolidating through much of the past week and there are several highs/lows of previous bars that could cause price to reverse.
  2. I can't tell where the PPZ begins and where it ends. Maybe is stretches from just below 88.00 to just above 89.00? Maybe price is currently trapped in the middle of this PPZ and will be stuck there for a while?
  3. There was a big BEOB a few days ago.

I was thinking of trading this on my demo account. If there is not a large gap on Sunday night, I may place a buy order above the Jun 25th bar with a profit target just below 90.00. That would provide a R:R close to 1:1.

I am thinking that most of the experienced traders here will pass on this setup because there is way too much traffic to the left of the I4B. I do not have enough experience to be sure about this, but my feeling is that the trend may be strong enough to overcome the traffic issue. Isn't traffic less relevant when a strong trend is in place? I would love to see some comments regarding this setup.

With the 4th of July approaching, I am going to try to be grateful for the freedoms that I still have. We are fortunate to be able to express our opinions and views no matter how different they might be. I am one of those "crazy" people who support Ron Paul. I hope to some day see a government that is not run by the banksters and large corporations like Goldman Sachs. Sorry, I felt the need to slip some politics in this post (it's contagious).

To all of my fellow rookies out there, I just wanted to say that I recently went through 1290 pages of this thread. This is past the point of my first post and past the point where I started following it post for post. When I first started, it seemed like I was standing at the bottom of a mountain. After the first couple hundred posts, I became addicted and spent every week night and weekend going through the thread. You guys/gals sure have not made it easy to keep up with all of the posts that have been made the past few weeks. I highly recommend you read the entire thread if you haven't already. You will not regret it.

My next steps are to watch the guest videos on the PF, come up with my own system and backtest it. I also want to get a copy of Pring on Price Patterns and someday I might join the PF.

Sorry about the long-winded post. I take that back, I am not sorry about the long-winded post. Have a great weekend.

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  • #35,269
  • Jun 27, 2009 12:02pm Jun 27, 2009 12:02pm
As an avid Lurker (and shameless Plugger elsewhere) of this thread, these last couple pages caught me by surprise...

Here's my one and only statement concerning Global Warming...

"Bring it on....!!"

(Fairbanks, Ak)

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FUBAR...
  • #35,270
  • Jun 27, 2009 12:06pm Jun 27, 2009 12:06pm
Quoting PipGator
I wanted to post a chart that shows the relationship between the 9/11 conspiracy and global warming.
skype: ststroud. let's talk trading.
  • #35,271
  • Jun 27, 2009 12:10pm Jun 27, 2009 12:10pm
Quoting PipGator
I wanted to post a chart that shows the relationship between the 9/11 conspiracy and global warming. Just kidding, it's a CHF/JPY daily chart with an I4B.
Welcome. Good stuff. Watch those videos. The PF is GRRRREAT.

My favorite jpy pair! I'm not Mike but your analysis is similar to mine. Watch out just above for 89 area. I do mix a little fundies in my style. Not sure there is too much topside left in equities and jpy. We could be due an exhaustion move up before falling.

I discovered Ron Paul on the cover of High Times magazine when I was like 17. Just missed being able to vote for him in '88.
  • #35,272
  • Jun 27, 2009 12:12pm Jun 27, 2009 12:12pm
Quoting ak4x
As an avid Lurker (and shameless Plugger elsewhere) of this thread, these last couple pages caught me by surprise...

Here's my one and only statement concerning Global Warming...

"Bring it on....!!"

(Fairbanks, Ak)

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Love it. A warming planet is actually conducive to life and food production.
  • #35,273
  • Jun 27, 2009 12:38pm Jun 27, 2009 12:38pm
Quoting uncle gromit
Shooting for the downside.
Same setup as nzd/usd previously posted.
I see. So you were playing the retrace of the pinbar on the daily chart, showing it on the 4hour chart.

Is this right?

Josh
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  • #35,274
  • Jun 27, 2009 1:05pm Jun 27, 2009 1:05pm
Quoting ak4x
As an avid Lurker (and shameless Plugger elsewhere) of this thread, these last couple pages caught me by surprise...

Here's my one and only statement concerning Global Warming...

"Bring it on....!!"

(Fairbanks, Ak)

Attachment
Nice to see you here AK.
I believe . . .
  • #35,275
  • Jun 27, 2009 1:15pm Jun 27, 2009 1:15pm
Quoting PipGator
Just kidding, it's a CHF/JPY daily chart with an I4B.

Pros:

 

  1. Price is at a strong PPZ near 88.00.
  2. 23.6 Fib
  3. 200 EMA
  4. Diagonal Trend Line
  5. Price has been trending upwards for about 6 months.

Cons:
[list][*]Lots of traffic: Price was consolidating through much of the past week and there are several highs/lows of previous bars that could cause price to reverse.[*]I can't tell where the PPZ begins and where it ends. Maybe is stretches from just below 88.00 to just above 89.00? Maybe price is currently trapped in the...

PG,
First off, Congratulations are in order for managing this gigantic and growing thread. You are ahead of many already. Reading this stuff over and over engrains it in our heads and makes it routine. At least that's how it worked for me. Your next steps mirror how I did it too.

As for the chart, I think the more important pattern is the DOUBLE INSIDE BAR. We have started talking more about this lately. Dale was trading it over in the DIBS thread and Jarroo and him both have some knowledge of it. I've backtested it a bit but not enough.
Your concerns about traffic are valid, however, I do wonder if it is as big a factor when compared to other PA signals. After all, the IB is a breakout pattern, not just a reversal. I don't know... need to do some more work with IBs and 2IBs before I start taking them regularily.

If I were to take this IB, I would only play it long:
- Swing low(ish)
- Trendline AND 87 serve as support

Josh
  • #35,276
  • Jun 27, 2009 1:19pm Jun 27, 2009 1:19pm
This rising triangle has me thinkin cable is going higher, will watch and play this as a breakout trade if the high gets taken out then price comes back and a retest holds from a 4hr tf most likely. How high hell who knows the higher the better cause a short from 1.7500 really really looks nice.
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  • #35,277
  • Jun 27, 2009 1:33pm Jun 27, 2009 1:33pm
Quoting PipGator
I wanted to post a chart that shows the relationship between the 9/11 conspiracy and global warming. Just kidding, it's a CHF/JPY daily chart with an I4B.

Pros:

 

  1. Price is at a strong PPZ near 88.00.
  2. 23.6 Fib
  3. 200 EMA
  4. Diagonal Trend Line
  5. Price has been trending upwards for about 6 months.

Cons:
[list][*]Lots of traffic: Price was consolidating through much of the past week and there are several highs/lows of previous bars that could cause price to reverse.[*]I can't tell where the PPZ begins and where it ends. Maybe...

You've done well to outline all the possible pros and cons to the setup Pigator, well done on that...

When I looked at the setup the first thing that struck me was the 88 level pivot zone consisting of some recent bar lows, and the high from the IB before the one in consideration.

A good way to quickly and effectively filter out the mediocre setups is to begin by looking at only the most important factors.

We're all aware what role does a "PPZ" play for us in this strategy...so it's not a bad idea to look for these first up and try and gauge their strengths and possible confluences that may arise near these horizontal supp/res levels and to see if any of these levels are coming in the way of a potential entry.

For my money this trade is not worth any risk what so ever. This does not mean I am discouraging you from taking it though...if you go for it what you should really be looking for is a good quick break of the ppz.

Jarroo's gone a step ahead in that he can take mediocre setups and extract cash out of them but it has come off after years of practice and a sensible MM approach which allows him to manipulate his risk effectively, if you wish to imitate him (which BTW is good) prepare to accumulate some decent experience of handling such trades with modified money management "different" from the general MM which the conventional method uses...

In a nutshell,

This trade was an easy pass for me and the good part is it took me less than a minute to decide, merely because it failed the first essential test, going further was pointless.

Of coarse if you're a slightly more aggressive long timer you might find the setup worth something but this rant was basically aimed at the majority of readers who are still at the rudimentary level and need to get this drilled as well as they possibly can.

the post was not aimed specifically at you Pipgator, I leave it to you to decide if it's for you or not.


ps congrats for going through the thread, I can bet you'll enjoy the videos like mad.

Regards,
Ghous.
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I believe . . .
  • #35,278
  • Jun 27, 2009 1:43pm Jun 27, 2009 1:43pm
...or... BEOB breaking through rising trendline, now being tested by IB

the weekly looks like it could have just completed a three bar reversal...if it had only gone a little higher...seems to be a familiar theme on all the charts this week.
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  • #35,279
  • Edited 4:09pm Jun 27, 2009 3:48pm | Edited 4:09pm
or another view...
price has just come off the 50%fib, (drawn from the big move down),after a very weak break out of the PPZ at 90.00. it has come back under the fib and the 365 ema and then formed a BEOB the highs of which tested the fib and the 365 ema to the pip! the low of the bar seems to have been stopped by the 87 round num. and the rising TL.
the first IB in q. is a retrace to the 50% fib if the BEOB.
To me now the q. is, are these IBs a building of momentum to the downside or is it a gathering of strength big enough to take out the BEOB??? The bearish divergence seems to suggest a downside bias?also it looks like bearish wedge formation??
i will be watching this closely.
just my 2 pips worth
jon
EDIT: notice when price broke the 365 EMA to the downside( the first time) how it was retested the bar after before price fell further?? nice one Jim
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PATIENCE... DISCIPLINE
  • #35,280
  • Jun 27, 2009 4:33pm Jun 27, 2009 4:33pm
well said but theres a huge problem.

over 50 percent of the population has figured out they can elect ultra liberal politicians and as a result vote themselves free money off the backs of the achievers in our society. of course that wouldnt be poossible without decades of building dependency.

the whole purpose and goal of the neo-marxist philosophy is to reach that point.

they are there and im not sure it can be stopped.

jim

Quoting albchr
Jim, PLEASE don't quit!! Don't EVER quit this!! If folks like you (and the rest of us) do, we're doomed as Americans if not already by these radical fanatics. Remember folks, we hire these idiots to "steer" the ship. WE THE PEOPLE still say "Where it goes". If we give that up, ALL the families, fortunes and LIVES lost over 250 years will be for nothing. When looking for someone to stop this madness, look in the mirror!! Because that's where you'll find your hero's.
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