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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

  • #43,201
  • Sep 6, 2009 3:02pm Sep 6, 2009 3:02pm
Is it just me or does Gold look rather interesting?

Scott
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  • #43,202
  • Sep 6, 2009 3:09pm Sep 6, 2009 3:09pm
Quoting phpscott
Is it just me or does Gold look rather interesting?

Scott

Silver is also looking very interesting. I will be all over any decent price action at this level
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  • #43,203
  • Sep 6, 2009 3:48pm Sep 6, 2009 3:48pm
Hello everyone !

Any ideas on AUD USD ?
Thanks !
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  • #43,204
  • Sep 6, 2009 4:09pm Sep 6, 2009 4:09pm
Quoting Jigsaw
August over at laaaaast ! (Bank holiday on monday) Damn that was a slow month, USDCAD was the highlight though.

Have a good weekend everyone !
Someone else mentioned the lack of good setups and poor setups being posted recently. I'm glad I'm not alone here and being too picky...August was by far my slowest month. I believe I took 2 daily trades this month and both were breakevens.

I've been doing 4 hour and looking into other lower timeframes to find more A+ setups. Demo of course while I trade my live account on daily.
  • #43,205
  • Sep 6, 2009 4:34pm Sep 6, 2009 4:34pm
Great time to enjoy life and a hobby. For example, I have been a web developer for years but just started playing with Adobe Flex; I am impressed so far.

Scott

Quoting scott087
Someone else mentioned the lack of good setups and poor setups being posted recently. I'm glad I'm not alone here and being too picky...August was by far my slowest month. I believe I took 2 daily trades this month and both were breakevens.

I've been doing 4 hour and looking into other lower timeframes to find more A+ setups. Demo of course while I trade my live account on daily.
  • #43,206
  • Sep 6, 2009 6:52pm Sep 6, 2009 6:52pm
Quoting benji533
Just scrolled back on the 4H chart and found this within one minute.

Ben
hey Ben,
Its all pa & s/r....
dont get caught up in boxes.. They look good but they are just more shit on the chart.

You are allready doing well.. but i feel you are now getting caught up in the spiral of this is easy... now I will find something even better & easier..

good luck.. but I am here to tell you its a road ill travelled..

you have the basics & thats all you need.. believe me..

This stuff is easy as long as we stick to what is easy......

cheers
Jeff
  • #43,207
  • Sep 6, 2009 6:55pm Sep 6, 2009 6:55pm
One thing to be careful with when posting good looking boxes after the fact, they are not boxes after 1 hit to the top. For example benji's 4hr box posted just above shows a great pinbar to trade how ever before the pin was created there is no box just a supp/resist line and 1 hit to the top.(not an attack on benji's box just an example i saw)

Boxes can look good afterwards but in realtime you cant beat plain old support and resistance lines. Hope this comes across right.

coop
  • #43,208
  • Sep 6, 2009 9:52pm Sep 6, 2009 9:52pm
Anyone else watching this dbhlc setting up on the gbpusd 4 hr? Any thoughts?
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  • #43,209
  • Sep 6, 2009 10:17pm Sep 6, 2009 10:17pm
Hi Guys, just spent the past week thinking and digesting the material here on the forum.

I have been thinking a lot about what Benji, Mike, Bundy, Joel, Jarroo, and many many other folks said about PA, confluence, etc.

For anything less than daily charts, WHY PA is occurring is more important than the actual PA.
The ideal PA should be a result of stops getting taken out and new positions being initiated. That’s the stuff that drives price.
If PA is a mere result of profit taking… the probability of profiting from it is iffy at best. On smaller timeframes, PA forms like this quite often.


How then can we have a better gauge that the PA is a result of new positions being initiated? In general, when there’s PA + strong confluence. Best if its in the direction of the trend.
Strong confluence of support and resistance are watched by everyone. The big boys throwing around a mountain of money a pop also see this and likely put on their positions around these levels too.
That's the stuff that drives prices: New orders coming into the market from the sidelines.

Not any ol’ confluence.
Strong confluence.
Stuff you can see on the daily charts.
Prices in the 4hour where the market hung out for a looonnnng time.
Round numbers.
Confluence of weekly & monthly pivots

In a nutshell, if there’s good PA + strong confluence + space for it to run (autobahn @ 4am, not NY rushhour), the probability of a successful trade is high.

Why we have to be picky is because good setups don’t come by all THAT often… hence the way to make up for it is probably to watch more pairs too.

Just my 2 pips.



PS: I'd like to thank Jduester for this post
http://www.forexfactory.com/showpost...ostcount=23250
It's mega awesome. Going through some posts here several times.
One Mind, Any Market
  • #43,210
  • Sep 7, 2009 12:11am Sep 7, 2009 12:11am
nzdusd. big resistance zone at round number 0.6900 + divergence.
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meine augen sind die sterne
  • #43,211
  • Sep 7, 2009 12:27am Sep 7, 2009 12:27am
Quoting aserbfx
nzdusd. big resistance zone at round number 0.6900 + divergence.
Watching, waiting, watching, waiting.....
  • #43,212
  • Sep 7, 2009 1:18am Sep 7, 2009 1:18am
Quoting Grousman
Watching, waiting, watching, waiting.....
Also just noticed 3 consecutive highs at 6894 then a 6891. Any significane?
  • #43,213
  • Sep 7, 2009 3:57am Sep 7, 2009 3:57am
Quoting Grousman
Also just noticed 3 consecutive highs at 6894 then a 6891. Any significane?
Yes they can be of great significance Grouseman, although Nu isn't a perfect example, watch out for them any and everywhere for their abilities to restrain price.

Ghous.
I believe . . .
  • #43,214
  • Sep 7, 2009 6:04am Sep 7, 2009 6:04am
Good MAE Everyone...

How's all the fine folks in this great thread doing?
Ghost Rider - WWTBMD?
  • #43,215
  • Sep 7, 2009 6:06am Sep 7, 2009 6:06am
Quoting albchr
Good MAE Everyone...

How's all the fine folks in this great thread doing?
Hey Chrissy,

Long time Buddy.

The fine folks are getting finer, and the thread's getting hotter.

how's your trading goin' lately?

g.
I believe . . .
  • #43,216
  • Sep 7, 2009 6:09am Sep 7, 2009 6:09am
Quoting ghous
Hey Chrissy,

Long time Buddy.

The fine folks are getting finer, and the thread's getting hotter.

how's your trading goin' lately?

g.
Chrissy?? Who be that?..

Trading is going well my friend. And you "Goose"?

Yes it has been a while. Too long in fact but I've been learning EO's method and well, you know how I study hard...lol
Ghost Rider - WWTBMD?
  • #43,217
  • Sep 7, 2009 6:11am Sep 7, 2009 6:11am
Quoting albchr
Chrissy?? Who be that?..

Trading is going well my friend. And you "Goose"?


The charts are all normal on my end too...

Catch ya' around,

PS: Nice sig you got there...can't get any simpler then that

g.
I believe . . .
  • #43,218
  • Sep 7, 2009 6:14am Sep 7, 2009 6:14am
Quoting ghous


The charts are all normal on my end too...

Catch ya' around,

PS: Nice sig you got there...can't get any simpler then that

g.
I've had that sig "almost" from the start. Reflects what I've learned here thanks to James and the good Lord for putting him here....

Today is my 1 year anniversary since I first heard of Forex. I'm working on the first page of a journal I'm going to start to keep track of myself from here.
Ghost Rider - WWTBMD?
  • #43,219
  • Sep 7, 2009 6:29am Sep 7, 2009 6:29am
Quoting albchr
I've had that sig "almost" from the start. Reflects what I've learned here thanks to James and the good Lord for putting him here....

Today is my 1 year anniversary since I first heard of Forex. I'm working on the first page of a journal I'm going to start to keep track of myself from here.
I seriously can't believe when some of you say I have been in forex for a year. Just amazes me how far ahead you guys are from my first year in

Congrats my friend

Mike
  • #43,220
  • Sep 7, 2009 6:34am Sep 7, 2009 6:34am
Quoting mbqb11
I seriously can't believe when some of you say I have been in forex for a year. Just amazes me how far ahead you guys are from my first year in

Congrats my friend

Mike
Mike!!

How you been brother? I have a long way to go yet man but I am pretty pleased with my progress thus far. Of course, I owe EVERYTHING to you and the gang here and on a couple other threads. Without you're "big as the sky" hearts and teachings, I feel I'd be in REAL trouble if I was even still here at all....

That's what puts us ahead of the game....YOU GUYS!!
Ghost Rider - WWTBMD?
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