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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

  • #44,141
  • Sep 18, 2009 12:11pm Sep 18, 2009 12:11pm
Quoting TiaForex
I got two of those from you (7:16pm and 7:52pm my time. It's now 7:59pm). But I also had PM notification from another member twice.
aaron can you do me a favor just post soemthing in my intraday thread. Want to see if I get notified
  • #44,142
  • Sep 18, 2009 12:15pm Sep 18, 2009 12:15pm
Quoting tehuringa


One of the most helpful hardest working dudes around

Salut!
  • #44,143
  • Sep 18, 2009 12:15pm Sep 18, 2009 12:15pm
Quoting turnip15
Jigsaw
Is it a OCO order type that is set above or below current price to be triggered when price comes to your preferred entry level?
Anyone please?
every Saint has a past. Every Sinner has a Future
  • #44,144
  • Sep 18, 2009 12:16pm Sep 18, 2009 12:16pm
Quoting james16
ok so its not everyone. right now i know of 2 people dead in the water.

me and mike. lol.
Make that 3. Nada today
I'm pretty much done with all this ...
  • #44,145
  • Sep 18, 2009 12:16pm Sep 18, 2009 12:16pm
Quoting turnip15
Anyone please?
Hey Turnip

We use a buy stop or sell stop above the high/low of the bar. So If you are going long you can place a buy stop above the high(or some form of that if you want to put a limit on it to prevent slipping or bounds etc).

Is that what you were asking?

Let me know
Mike
  • #44,146
  • Sep 18, 2009 12:17pm Sep 18, 2009 12:17pm
Quoting mbqb11
aaron can you do me a favor just post soemthing in my intraday thread. Want to see if I get notified
Done. Btw I should mention that I don't get thread or post notifications because I don't have my account set up that way. Just PMs. So I have no idea if thread notifications are working for me.
  • #44,147
  • Sep 18, 2009 12:18pm Sep 18, 2009 12:18pm
are you getting communication email from the group forum?

post notifications/pm's etc etc.

jim

Quoting StoragePro
Make that 3. Nada today
  • #44,148
  • Sep 18, 2009 12:18pm Sep 18, 2009 12:18pm
Quoting StoragePro
No - not rude... ever.



Ben
Quote
Not to hijack a perfectly good thread, but -

How do we arrive at an ICCE levels over and over again that aligns on PPZ's?...
[/quote]
Maybe price respects ICCE levels, but it is still S and R 90% of the time which lines up with these levels. If you find levels which do not line up with PPZS, try to plot regular fibs from swings and check if the ICCE levels line up with regular fib levels. If not, check if it lines up with a major round number.

We must understand that the thing which moves price is human's orders ONLY. They will put their orders based on what they see. ICCE isn't a popular tool. Not many traders will place there orders based on it.

Bemac itself doesn't have a reason for this to work. He just noticed that it works over a long time. But if we think about it, we can find the reasons. I gave my two options in my previous post based on my basic knowledge so far.

Also the 365EMA is great. Why? IMO because it lines up with price pivots. Anything that lines up with price pivots will work.

Price can move only in two directions: up or down. If it will move down, it may stall at the ICCE levels which are price pivots|regular fibs|round numbers, etc. Or price may move up and stall at one of the ICCE levels which are one of the factors above.
So of course price will eventually go up or down and hit these levels.

You can look at these as targets, and I can look at it as I just described on the paragraph above.

But again, I won't enter a break of a channel and just wait for my trade to hit the ICCE last levels. That is why I do not need them. And that is the point - if all the other indicators work because they line up with price flips and round numbers, why do I need messy charts and not only price?
If you just see that they work and don't ask yourself why, you will never get to this conclusion. Everything has a reason.

Anyway, how did we get to talking about all this? LOL! I made my post on using divergence on trends lol. Ohh and here it happens again. My post about divergence on trends can be the answer of "divergence is a killer on trends" (which I have never heard the reason for this sentence anyway).

We are just going around ourselves my friend....

Ben
  • #44,149
  • Sep 18, 2009 12:23pm Sep 18, 2009 12:23pm
Quoting james16
are you getting communication email from the group forum?

post notifications/pm's etc etc.

jim
Hey Jim,

I got one this morning....WDPG update....nothing else today.

Cheers

Dave
  • #44,150
  • Sep 18, 2009 12:25pm Sep 18, 2009 12:25pm
Quote
"divergence is a killer on trends" (which I have never heard the reason for this sentence anyway).

Divergence starts to appear on charts. People go short based on it. Price carries on going up. People get slaughtered.

That's it.

Divergence shows the potential for a reversal but it's not a signal that the reversal is going to happen now. Therefore it adds confluence to reversal PA, but that reversal PA better be strong or you'll get killed.

Look at your charts and see how long price continued to diverge from the oscillator before that divergence was respected and price corrected itself.

Case in point, the NU and AU at the moment. Look how long it's gone on for. If a killer pitbull pinbar appears at a PPZ pointing south, the divergence will be great confluence.

In short, divergence says that sooner or later price will correct itself to respect the divergence. But sooner or later doesn't necessarily mean tomorrow and that's where people get killed.

That's the way I look at it anyway.

Aaron
  • #44,151
  • Sep 18, 2009 12:28pm Sep 18, 2009 12:28pm
that is a nice description.

over time, any pair that trends will show MACD divergence. It has to because this is merely the measure of the gap between two moving averages. Eventually, they will track together. No rocket science there.

That AU - it spins off small PB's fairly frequently.

Quoting TiaForex
Divergence starts to appear on charts. People go short based on it. Price carries on going up. People get slaughtered.

That's it.

Divergence shows the potential for a reversal but it's not a signal that the reversal is going to happen now. Therefore it adds confluence to reversal PA, but that reversal PA better be strong or you'll get killed.

Look at your charts and see how long price continued to diverge from the oscillator before that divergence was respected and price corrected itself.

Case in point, the NU and AU at the moment....
I'm pretty much done with all this ...
  • #44,152
  • Sep 18, 2009 12:32pm Sep 18, 2009 12:32pm
Page 1 post

Quoting TiaForex
Divergence starts to appear on charts. People go short based on it. Price carries on going up. People get slaughtered.

That's it.

Divergence shows the potential for a reversal but it's not a signal that the reversal is going to happen now. Therefore it adds confluence to reversal PA, but that reversal PA better be strong or you'll get killed.

Look at your charts and see how long price continued to diverge from the oscillator before that divergence was respected and price corrected itself.

Case in point, the NU and AU at the moment. Look how...
  • #44,153
  • Sep 18, 2009 12:33pm Sep 18, 2009 12:33pm
Quoting TiaForex
Divergence starts to appear on charts. People go short based on it. Price carries on going up. People get slaughtered.

That's it.

Divergence shows the potential for a reversal but it's not a signal that the reversal is going to happen now. Therefore it adds confluence to reversal PA, but that reversal PA better be strong or you'll get killed.

Look at your charts and see how long price continued to diverge from the oscillator before that divergence was respected and price corrected itself.

Case in point, the NU and AU at the moment. Look how...
Hey man,

I know that when you have confluence of factors, the odds are with you.

I want to know why divergence on trends, alone, is "showing the potential for a reversal". That's all.
What divergence on a trending price actually tells you?

Ben
  • #44,154
  • Sep 18, 2009 12:38pm Sep 18, 2009 12:38pm
Quoting StoragePro
That AU - it spins off small PB's fairly frequently.
This is something I've noticed you doing SP. You know the quirks of a few pairs through observation. I've not got that in my blood yet. But you've observed the EURUSD moving towards the nearest 50 pip level after bar close. Little things like that. Rac talked about the UCAD sometimes reversing off a pinbar without consolidating etc etc.

I think it just comes with time. And of course it's not necessary to trade.

On another note:

The recent discussions on the thread bring to mind the old maxim, do what you need to do to be profitable. If you're profitable, great. If you're not, review what you're doing. Look at SeekingLight and mbqb11. Almost polar opposites in their approach, both profitable.

Find what works. Rinse. Repeat. Your bottom line does not lie.
  • #44,155
  • Sep 18, 2009 12:42pm Sep 18, 2009 12:42pm
Quoting benji533
Hey man,

I know that when you have confluence of factors, the odds are with you.

I want to know why divergence on trends, alone, is "showing the potential for a reversal". That's all.
What divergence on a trending price actually tells you?

Ben
I'm not your man for that benji, but check joelcf's post history where he has an awesome post on divergence.

I'd also suggest buying Murphy's Technical Analysis of The Financial Markets if this stuff interests you. Everything is explained there in great detail and it's a good reference bible.

The key is, you may not need to know all this stuff. But you want to. Fair enough. If it helps with your comfort zone, then go for it. Each to his own. And only we know what our individual comfort zone is like and what it takes to reinforce it.

Aaron
  • #44,156
  • Sep 18, 2009 12:52pm Sep 18, 2009 12:52pm
Quoting TiaForex
Find what works. Rinse. Repeat. Your bottom line does not lie.
OK enough! You are right. I made 9R gain in the last 30 hours. Used 2% on each trade - makes it 18% gain.
This is not my first day doing this, and my draw downs aren't so large. So I know what works for me. I'm happy.

I'll look into the sources you mentioned only for fun

Have a great week everyone!

Ben

PS - I know demo is different. But only psychologically. I'll pass it as well when time comes
  • #44,157
  • Sep 18, 2009 12:53pm Sep 18, 2009 12:53pm
Quoting TiaForex
Divergence starts to appear on charts. People go short based on it. Price carries on going up. People get slaughtered.

That's it.

Divergence shows the potential for a reversal but it's not a signal that the reversal is going to happen now. Therefore it adds confluence to reversal PA, but that reversal PA better be strong or you'll get killed.

Look at your charts and see how long price continued to diverge from the oscillator before that divergence was respected and price corrected itself.

Case in point, the NU and AU at the moment. Look...

Yep and that is why I like it to be less then 10 bars on the 5min because the longer it gets the less it works or at least what I have seen, Hell if you go back far enough you can get a 95% loss rate off of divergences.
Keep taking CT trades, I need more money
  • #44,158
  • Sep 18, 2009 12:58pm Sep 18, 2009 12:58pm
Quoting benji533
OK enough! You are right. I made 9R gain in the last 30 hours. Used 2% on each trade - makes it 18% gain.
This is not my first day doing this. So I know what works for me. I'm happy.

I'll look into the sources you mentioned only for fun

Have a great week everyone!

Ben

PS - I know demo is different. But only psychologically. I'll pass it as well when time comes
Money changes it all, When your 1 trade = a nice car then you will look into MM and RR as the only thing that matters. But you are doing good, find something that works in any market and run with it, hell my setups are over 25 years old, I just added the J16 PB and PPZ stuff into the mix, if you get a setup that is too complex and it has a lot of things that have to happen it will not work in the long run. For me using BB's you will ALWAYS get extremes from people / news / emotions and RSI just ties to it so it works for me.

P.S. The 1st 4 people I showed the market too turned 100k into over a million, after they went live they all quit and blew up in 3 months, accounts range from 5k - 45k with me showing them the exact same trades I was in and when I got out, they though they could do better so did not listen to me. They still enjoy their day jobs.
Keep taking CT trades, I need more money
  • #44,159
  • Sep 18, 2009 1:19pm Sep 18, 2009 1:19pm
Quoting Ryanmcd
Money changes it all, When your 1 trade = a nice car then you will look into MM and RR as the only thing that matters. But you are doing good, find something that works in any market and run with it, hell my setups are over 25 years old, I just added the J16 PB and PPZ stuff into the mix, if you get a setup that is too complex and it has a lot of things that have to happen it will not work in the long run. For me using BB's you will ALWAYS get extremes from people / news / emotions and RSI just ties to it so it works for me.

P.S. The 1st 4 people...
My trading style is the simplest it can get. All the recent posts about why and why are in purpose to prevent using things which I can already get from simple charts with only price bars on them.

What makes real money so different from demo I may ask? The only thing is psychology AKA emotions. Right?

Can you please explain it a bit further? how do you see the difference, and how do you deal with it?

Thanks,

Ben
  • #44,160
  • Sep 18, 2009 1:21pm Sep 18, 2009 1:21pm
Quoting Ryanmcd
Money changes it all, When your 1 trade = a nice car then you will look into MM and RR as the only thing that matters. But you are doing good, find something that works in any market and run with it, hell my setups are over 25 years old, I just added the J16 PB and PPZ stuff into the mix, if you get a setup that is too complex and it has a lot of things that have to happen it will not work in the long run. For me using BB's you will ALWAYS get extremes from people / news / emotions and RSI just ties to it so it works for me.

P.S. The 1st 4 people...
It amazes me people just blow up their accounts. If your trading poorly, step aside and practice jeesh. I know months back I was struggling, and I was down maybe 7 percent or so on my account after a longish period of trading. Realized I was trading really dumb and I withdrew my cash to prevent myself from making the problem even worse and began to actually practice, best decision I ever made.
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