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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

  • #48,101
  • Nov 15, 2009 11:25am Nov 15, 2009 11:25am
Quoting KissFan
It sends you a text/e-mail when price gets to where the line you plotted is.

K.I.S.S.
Thanks Roger , have a great week ! I know you have only been trading full time a couple of weeks , but would like to know how it feels. Do you feel more pressure on placing a trade ? how you manage a trade ? R u enjoying the experience ? Hope my question is not out of place . Tks Gary
  • #48,102
  • Nov 15, 2009 11:38am Nov 15, 2009 11:38am
Quoting gjworley1952
Thanks Roger , have a great week ! I know you have only been trading full time a couple of weeks , but would like to know how it feels. Do you feel more pressure on placing a trade ? how you manage a trade ? R u enjoying the experience ? Hope my question is not out of place . Tks Gary
I don't mind at all. I do feel a little more "weight" if you will. This is just because right now I REALLY want to succeed and I am still settling in. My family has been very supportive over the past couple of years and I look at the time that my wife and kids have allowed me to study and read charts as just as important as my time that I have invested. In short I want to succeed for them as much as I do personally. As far as managing a trade, I set an initial TP but move to BE after I am substantailly in profit. I can't be too specific because I trade on multiple TF's. Nothing fancy or complicated. I don't want to spend all day everyday in front of the computer. I use line alerters when I have to be away or sleep and I am in a trade or looking to get into a trade at a certain price level. Lastly, I am having the time of my life! This is less stressful than running my other business. Refer to what Jacko has said about trading forex and I'll ditto that.

K.I.S.S.
  • #48,103
  • Nov 15, 2009 12:42pm Nov 15, 2009 12:42pm
sorry - quick question - what are the settings on the MACD?
I've been through a bunch of posts - but haven't found it yet.
  • #48,104
  • Nov 15, 2009 12:45pm Nov 15, 2009 12:45pm
Quoting perch
sorry - quick question - what are the settings on the MACD?
I've been through a bunch of posts - but haven't found it yet.
Are you using MT4?

K.I.S.S.
  • #48,105
  • Nov 15, 2009 12:49pm Nov 15, 2009 12:49pm
Yes
  • #48,106
  • Nov 15, 2009 12:56pm Nov 15, 2009 12:56pm
Quoting perch
sorry - quick question - what are the settings on the MACD?
I've been through a bunch of posts - but haven't found it yet.
And for the RSI, it's 6, right guys?
  • #48,107
  • Nov 15, 2009 12:59pm Nov 15, 2009 12:59pm
Quoting perch
Yes
12,26,9 and RSI 6

K.I.S.S.
  • #48,108
  • Nov 15, 2009 1:02pm Nov 15, 2009 1:02pm
Thanks KISSFAN!
  • #48,109
  • Nov 15, 2009 1:04pm Nov 15, 2009 1:04pm
Quoting perch
Thanks KISSFAN!
Ditto
  • #48,110
  • Edited 3:18pm Nov 15, 2009 3:07pm | Edited 3:18pm
Hi everyone.

I haven't taken any J16 trades in quite some time now, due to becoming more picky.

I was wondering if inside bars are worth trading, not the I4B type, but IBs at swing highs lows?

There are a few of these setups at the moment.

Apologies if this has been discussed before. I'm still reading through the thread and am up to only page 300.

Here's one of these IB setups. This is from the USD/CHF Daily.

1. IB at swing high.
2. Bearish trend
3. Off PPZ
4. Off Fib 50% level

Any comments? Have I drawn the FIB correctly?

I haven't marked in the PPZ, but I think it's fairly obvious.

Thanks in advance.



Edit: Have just noticed that it would be trading into a round number, 1.01, and another PPZ, so would be extra cautious.


...
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  • #48,111
  • Nov 15, 2009 3:19pm Nov 15, 2009 3:19pm
i dont think its worth it on this one as the mother candle is to large. by the time u put a sell stop you would be at the double bottom region around 1.003 and then just below that is the big round number of 1.000.

I only do the absolute basics but it would seem to me if i was going to do anything id play a break of the 1.000 level or drop to the 4 hour and just play a break of the 1.01 ppz.

i think as with every pa if u play them at good swing highs and lows they have a high chance of winning even if its an IB.
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  • #48,112
  • Nov 15, 2009 4:12pm Nov 15, 2009 4:12pm
Quoting supermatt
i dont think its worth it on this one as the mother candle is to large. by the time u put a sell stop you would be at the double bottom region around 1.003 and then just below that is the big round number of 1.000.

I only do the absolute basics but it would seem to me if i was going to do anything id play a break of the 1.000 level or drop to the 4 hour and just play a break of the 1.01 ppz.

i think as with every pa if u play them at good swing highs and lows they have a high chance of winning even if its an IB.
Thanks Matt.

I played a quick scalp trade. I took the short and price stalled at 1.01 for 20 minutes or so, so I waited. Had price reversed back up, I would have been out quickly but then price broke down so I hung on. Then I exited for a 10 pip gain when a nasty looking PB formed on that timeframe with divergence.

It'll be interesting to see how things develop.

Attached Image
  • #48,113
  • Nov 15, 2009 5:12pm Nov 15, 2009 5:12pm
Quoting KissFan
Refer to what Jacko has said about trading forex and I'll ditto that.

K.I.S.S.
Hi KissFan

Trading (especially forex) IS the best business on the Planet.

Jacko

PS I am / was a big fan of Gene Simmons and the boys
  • #48,114
  • Nov 15, 2009 5:34pm Nov 15, 2009 5:34pm
Quoting jacko
Hi KissFan

Trading (especially forex) IS the best business on the Planet.

Jacko

PS I am / was a big fan of Gene Simmons and the boys
Thanks Jacko! I'm a big fan of Jacko! I have read your stuff extensively and appreciate your generosity. All the best to you sir.

K.I.S.S.
  • #48,115
  • Nov 15, 2009 6:00pm Nov 15, 2009 6:00pm
Quoting KissFan
Thanks Jacko! I'm a big fan of Jacko! I have read your stuff extensively and appreciate your generosity. All the best to you sir.

K.I.S.S.
look at that! Jacko in the house!


Hey KissFan, do you use any of the montly/weekly pivots on your charts? My charts have started to look kind of messy and I HATE it! Just wondering how simple you keep your view?
Many choose unhappiness over uncertainty.
  • #48,116
  • Nov 15, 2009 6:07pm Nov 15, 2009 6:07pm
Quoting Dan Gilbert
look at that! Jacko in the house!


Hey KissFan, do you use any of the montly/weekly pivots on your charts? My charts have started to look kind of messy and I HATE it! Just wondering how simple you keep your view?
I do use weekly and 4hr for anything that I am trading 1hr or above. Your next question will be "why not daily pivots?". I find that the daily will coincide with a 4hr, so most of the time do not plot them in an effort to keep my charts clean. My charts still are too busy so when I post one I try to post a clean one as not to confuse anyone.

K.I.S.S.
  • #48,117
  • Nov 15, 2009 6:16pm Nov 15, 2009 6:16pm
no failure glyd, just never broke the bar.

now forming inside bar/s "inside" the outside bar. very common.

Quoting glyder
Both Friday's BEOBs on the above failed.

Bundy, many thanks for taking the time to help me think a bit more about them.
  • #48,118
  • Nov 15, 2009 6:44pm Nov 15, 2009 6:44pm
Quoting james16
no failure glyd, just never broke the bar.

now forming inside bar/s "inside" the outside bar. very common.

The CAD Daily BUOB looks real nice, just didn't break. (yet ).

Monthly PB still very much in play. Although both of these setups have a bit of traffic, they are very manageable.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #48,119
  • Nov 15, 2009 7:49pm Nov 15, 2009 7:49pm
3 for 3.... If you rode out the whipsaws, you're deep in the money

Quoting perch
e/u 4hr nice pin forming?

basically on daily candles trend is up.

I put S+R about 1.918

Entry about 1.4873

My second - Popped out at me - so I consider this A+ - please let me know if I am missing something.
http://i380.photobucket.com/albums/o...rah32/pin2.gif

Quoting perch
USD/CHF -
Holy Crap - I've seen two other setups also - -- - but not as pretty -- -

again on 4hr
overall trend down

resistance at about 1.0125 or 1.0109
http://i380.photobucket.com/albums/o...rah32/pin1.gif

Quoting perch
OMG!
another one?
This time Usd/Can
again on 4 hr

Trend has been down albeit not steeply down -

I am seeing tail at 1.0575 - not really a big round number - but sort of?
First - weak resistance is 1.0501 - but maybe doesn't really count? free to go below 1.0500
http://i380.photobucket.com/albums/o...rah32/pin3.gif
Many choose unhappiness over uncertainty.
  • #48,120
  • Nov 15, 2009 7:51pm Nov 15, 2009 7:51pm
Quoting jacko
Hi KissFan

Trading (especially forex) IS the best business on the Planet.

Jacko

PS I am / was a big fan of Gene Simmons and the boys


Jacko in the house good to see you here

sohail
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