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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

  • #35,381
  • Jun 28, 2009 7:20pm Jun 28, 2009 7:20pm
Quoting mbqb11
I just don't think this thread is the place for it. No one is telling you not to discuss it. There is a members lounge here. Open a thread link it. Go for it.
This is a must, because we run into problems like "Is that a trend continuation? . . . of what ? the Cable or CO2 emissions?" lol


http://www.forexfactory.com/forumdisplay.php?f=46
Indicators show the past. Price Action "Indicates" the future.
  • #35,382
  • Jun 28, 2009 7:45pm Jun 28, 2009 7:45pm
Quoting sas
Hi Ross

I think that the area's that you have identified, 1.1165 and 1.1300 would be good area's to look at, to take some profit off the table, if you are looking to get into this trade. But I am not sure how you are looking to enter the trade? Are you planning to enter on the break of the BUOB, or on the retrace of the BUOB? and also where you would place the stoploss at if you enter into this trade?
IMO this is not a great trade opportunity, but like you said maybe in the days ahead it could turn out to become one.

SAS,

I'm not looking to trade the BUOB, I just had it identified on my chart. I'm looking for an opportunity to get short at those areas of heavy confluence with PPZ and fib retracements. My plan is to wait for quality PA setups at the levels I have marked with the red box.

Ross
  • #35,383
  • Jun 28, 2009 8:20pm Jun 28, 2009 8:20pm
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....

Good discussion about this one PipG. (ghous, g_j_hook, and others)

That big BEOB cannot be ignored. We have heard of Inside 4 pevious Bar (I4B) or I10+B. Well this Bearish Outside Bar is O10+B ( I just made that up. lol) Although it is not at a swigh High, stopping at a strong confluenced area of the 87.00, 200 ema (blue) , PPZ level and Fib 61.8. Does the BEOB have the strength to break through this level against the trend?

I agree with ghous the MAs and trendlines by themselves don't hold that much strength unless they act as a supportive confluence. The Big Guy has been using long term MAs (365, 150, etc,) for a long time and understands their effectiveness, so I'm on board with them when they apply.

The Double Inside Bar can be used as an low risk trade but there is sure is a lot of traffic in this area.

A big bullish PB at the 87.00 confluenced area would be the what I would be waiting for.

Just some thoughts.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #35,384
  • Jun 28, 2009 8:31pm Jun 28, 2009 8:31pm
well stated and done in a non confontational way. probably better done than my rants mon.

jim





Quoting moneda
James,

I know that this is your thread and you seemed very passionate about the subject of climate change otherwise you would not continue to bring this subject up...so since you have left the door open in a forum format I have to ask you what is your point in this whole issue? That there are people who take advantage of the damage that we are doing to the planet for their own selfish purpose? That we should be more skeptical of what we read or hear? That the liberals are to be blame for the hysteria of global warming? That truth is the ownership...
  • #35,385
  • Jun 28, 2009 8:35pm Jun 28, 2009 8:35pm
Quoting james16
earths history and the study of it is one of my hobbies ace.

it has been one of my hobbies for decades.

how much research have you done?

spend a couple of months at this site and then you might be able to talk to me on my level of understanding of this subject.

this site is about actual research into earths climate history and how all epochs compare.

this site has won numerous awards from the scientific community.

it has no politics behind it. it has no agenda other than knowing the actual truth of earths history.

im not trying to...
Amazing how everything trends.

Thanx for everything Jim
I believe . . .
  • #35,386
  • Jun 28, 2009 8:40pm Jun 28, 2009 8:40pm
obviously people give me some leeway to do things here because its my thread and ive been here for a while but please know this.

I RESPECT ALL OF YOU WHETHER YOU AGREE WITH ME OR NOT.

as long as we can do things in a friendly and respectful way then deviating from trading from time to time is fine i think.

if i ever cross the line anywhere and break any of my own suggestions i expect to be called on it.

i work very hard to keep my ego in check so no one should be concerned about opposing me on anything.

lets just please do it with kindness and that starts with me.

that being said lets look at some more climate facts. LOLOL.

this represents how the earth has been from a climate perspective for most of its history.


Late Triassic Climate
http://www.scotese.com/_themes/expeditn/exphorsa.gif
http://www.scotese.com/images/J210_zonef.jpg

Global climate was warm during the Late Triassic. There was no ice at either North or South Poles. Warm Temperate conditions extended towards the poles.
  • #35,387
  • Jun 28, 2009 8:50pm Jun 28, 2009 8:50pm
With you on the climate change and the earth surface plates moving. Taught this in Earth Science class years ago. I haven't kept up on the latest findings but the basic facts show that the continents as we know them today fit together like a jigsaw puzzle. In fact if you took a world map and cut out the continents, you can then see how to fit them together into the one big landmass from which they started.

Lou
  • #35,388
  • Jun 28, 2009 8:53pm Jun 28, 2009 8:53pm
lou is one of the earliest members of forex factory.

hello lou, how are you old buddy?

jim





Quoting Lou
With you on the climate change and the earth surface plates moving. Taught this in Earth Science class years ago.
  • #35,389
  • Jun 28, 2009 9:30pm Jun 28, 2009 9:30pm
Quote
earths history and the study of it is one of my hobbies ace.
it has been one of my hobbies for decades.

Quote
obviously people give me some leeway to do things here because its my thread and ive been here for a while but please know this.
I RESPECT ALL OF YOU WHETHER YOU AGREE WITH ME OR NOT.
as long as we can do things in a friendly and respectful way then deviating from trading from time to time is fine i think.
if i ever cross the line anywhere and break any of my own suggestions i expect to be called on it.

james16,
i appreciate your "Hobby" posts.
Fascinating that u have such hobby. Makes u a lot more interesting as a person/idol.

my only regret is failing to read & post on this thread (about this "hobby") this weekend.

It's another trading week
  • #35,390
  • Edited 9:49pm Jun 28, 2009 9:34pm | Edited 9:49pm
Hard to ignore the initial rejection of the sub 1.4 level in fiber. USDCHF is not as pretty a chart, however, and the last hour has been rather flat. EURUSD probably one to conservatively buy strength on PA confirmation.

EURCHF holding current levels should be a buy on more aggressive PA.
  • #35,391
  • Jun 28, 2009 9:37pm Jun 28, 2009 9:37pm
Quoting Lou
With you on the climate change and the earth surface plates moving. Taught this in Earth Science class years ago. I haven't kept up on the latest findings but the basic facts show that the continents as we know them today fit together like a jigsaw puzzle. In fact if you took a world map and cut out the continents, you can then see how to fit them together into the one big landmass from which they started.
Lou
Lou,
with you on this, Teacher Lou.
the edges of most/all land masses/ continents obviously were smoothened out/ affected by erosion.
but with a little imagination we can stitch all the land masses/continents back into 1 whole land mass, the theorized super continent, called Pangaea.

a quick search yields:
wiki
Pangaea pictures
  • #35,392
  • Jun 28, 2009 9:45pm Jun 28, 2009 9:45pm
still looking at charts...

for now i'm interested to see how eur$ will end June & what July brings...
eur monthly bar/candle is poised to close as a neutral bar with a 600+ pip range, compared to last month's up bar with a 900+ pip range.
From March, the sequence seems to be up bar (March), pause (April), up bar (May), pause? (June)... will this continue? Let's see.

will also look at other charts a little later...
  • #35,393
  • Jun 28, 2009 10:14pm Jun 28, 2009 10:14pm
yeah, I was taught Pangaea in school too, but I think that is bad science. Expanding Earth theory makes more sense as far as how the continents come together and it lines up much more accurately than then what everyone has been taught about one continent and plates.

Here is a real mind blower. Expanding Earth Theory.
Lots more info if you care to take the time and search.

http://video.google.com/videosearch?...th&emb=0&aq=f#
http://www.youtube.com/watch?v=_f6hc...layer_embedded
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #35,394
  • Jun 28, 2009 11:52pm Jun 28, 2009 11:52pm
Hi Guys,

I've been trying to trade the 365 and 150 MA ever since I read this thread from the beginning, the touches, and use them as confluence, and so on.

But after I had a few demo accounts with various brokers, I've found out that almost none of them had the same exact location of an EMA, my thought then goes like this, I think Jim would see them in an exact location everytime because the price feed Tradestation gave was state-of-the-art and flawless due to it's high subscription price (at least for me).

So I was wondering, is there anyone here who uses the base trades or these 365 and 150 EMA as S/R or touches with a consistent location of those EMAs? what platform and charts are you using? beside Tradestation of course.

Thanks a lot guys.

And oh yeah, Josh, I'm going to start demoing the 4H charts too starting today, maybe only watching them, but I have a trigger happy finger, so I think I'll open another demo, I'll be very happy if you can comment on the 4H charts I'll post later on.

Good day.

Marcel.
  • #35,395
  • Jun 29, 2009 12:58am Jun 29, 2009 12:58am
marcelnyo,
if i understand u correctly..
it's simply because some brokers have Sunday bars & some don't. This distorts/changes the computation for the said MAs. (I have not compiled a list of which ones have/don't have Sunday bars, unfortunately; I just accept & ignore Sunday bars if ever they are present in my charts)

I use MT4, along with others here. most charts posted here are thru IBFX, FXPro, Alpari. maybe u want to stick with those & get familiar/acquainted with "their" EMAs so that u'll "find consistency".
  • #35,396
  • Jun 29, 2009 12:59am Jun 29, 2009 12:59am
this my tragegy


rule 1 locate pinbar

rule 2 locate resistant suport levels

rule 3 look how trade should go what are critical point , make
tp plan sl plan.

MA´s no need they are lagging
  • #35,397
  • Jun 29, 2009 1:03am Jun 29, 2009 1:03am
Quoting SomTam
this my tragegy


rule 1 locate pinbar

rule 2 locate resistant suport levels

rule 3 look how trade should go what are critical point , make
tp plan sl plan.

MA´s no need they are lagging
Right you are sir.
I believe . . .
  • #35,398
  • Edited 1:15am Jun 29, 2009 1:05am | Edited 1:15am
LasVahGoose,
thanks for sharing. I'll check the videos out.
There's always room for learning & different perspectives.




ghous,
"gunning" for 2000 posts. Another milestone for u
  • #35,399
  • Jun 29, 2009 1:31am Jun 29, 2009 1:31am
Quote
this my tragegy
rule 1 locate pinbar
rule 2 locate resistant suport levels
rule 3 look how trade should go what are critical point , make
tp plan sl plan.
MA´s no need they are lagging

SomTam,
as per james16 method, try this (below) to improve your strategy:
your rule 2 should be rule 1, & your rule 1 should be rule2.

& then your revised strategy should look like this:
rule 1 locate resistance & support levels, PPZs (on Daily, weekly, monthly charts)
rule 2 locate PA (Price Action) setups located on areas in rule 1 -- such as pinbar, BEOB, DBLHC, etc
rule 3 be aware of critical points/trouble spots/traffic areas, make
tp (take profit) plan & sl (stop loss) plan. (this rule 3 can be simultaneous with rule 2)
As with MA's (moving averages).... use of MA's are trader-dependent.
  • #35,400
  • Jun 29, 2009 1:38am Jun 29, 2009 1:38am
Quoting supremeChaos
SomTam,
as per james16 method, try this (below) to improve your strategy:
your rule 2 should be rule 1, & your rule 1 should be rule2.

& then your revised strategy should look like this:
rule 1 locate resistance & support levels, PPZs (on Daily, weekly, monthly charts)
rule 2 locate PA (Price Action) setups located on areas in rule 1 -- such as pinbar, BEOB, DBLHC, etc
rule 3 be aware of critical...
here here,
you beat me to it!
rule 4. complete ALL of the above before you pull the trigger!
jon
PATIENCE... DISCIPLINE
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