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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

  • #48,801
  • Nov 27, 2009 4:10am Nov 27, 2009 4:10am
thats sounds like you almost enjoyed the fact that they offered you money, if not "in facto they offered defacto ?" Icarusfx, as if you had right of way, maybe you could re-phrase the last statement ?
Or tell me what really happened ?

Matt
Without women, money would have no meaning - Aristotle Onassis
  • #48,802
  • Nov 27, 2009 4:21am Nov 27, 2009 4:21am
Quoting jspeakman
Hi Matt

Many thanks for this - will continue to stick to higher frames. Agree from my own limited experience , higher TFs always seem to over ride lower TFs. However I wondered if you could use this to trade a little more frequently no lower than 4 hour on the basis that you know from the higher TFs where the train is coming from and I guess more importantly where it is likely to crash into the buffers (- and I think I have now done your metaphor to death!).

Cheers

JS
There's more to this longer time frames gig than meets the eye.

The great aspect about trading those longer time frames is instilling that ability to wait for the best trades and, once in one, to wait out a trades various "noise" phases . If you can do that (i.e not checking back every hour on a daily or weekly trade), you've developed a great skill that will work with ALL time frames later on. If you need to watch certain levels in between, then set alerts.

That ability to wait for the correct opportunities is a good one to have.
Bundy's status today: "Waiting..."
  • #48,803
  • Nov 27, 2009 4:30am Nov 27, 2009 4:30am
Quoting mattfx
If you have been over to Europe, you may have had this experience when crossing the road, due to conditioning you may have be trained to look to your left for example, and be aware of traffic comming from that direction, when in fact you should be looking to the right as everyone is driving on the other side of the road .....ever had that happen ?

Right or Wrong they were on the opposite side of the road and I was not prepared......

Almost cost me my life.......
Crossing the road in the U.S. when I was there was like that. Freaky.

Straight away you realise how easy these automatic conditionings can get you killed.
Bundy's status today: "Waiting..."
  • #48,804
  • Nov 27, 2009 4:35am Nov 27, 2009 4:35am
Quoting mattfx
thats sounds like you almost enjoyed the fact that they offered you money, if not "in facto they offered defacto ?" Icarusfx, as if you had right of way, maybe you could re-phrase the last statement ?
Or tell me what really happened ?

Matt

lol well i did enjoy the whole experience strangly enough... i've lost count of the number of a$$wholes who i've had to avoid (very last minute) as they've just pulled out without looking or ignored trivial things like mini roundabouts!!! most don't even realise that they were almost the cause of a pretty serious accident and it often leaves me fuming!

so when i was in oz and i had a close call (they were on the wrong side btw) it was a pleasant change to find a warranted response, thats all.
  • #48,805
  • Nov 27, 2009 4:40am Nov 27, 2009 4:40am
Quoting bundyraider
There's more to this longer time frames gig than meets the eye.

The great aspect about trading those longer time frames is instilling that ability to wait for the best trades and, once in one, to wait out a trades various "noise" phases . If you can do that (i.e not checking back every hour on a daily or weekly trade), you've developed a great skill that will work with ALL time frames later on. If you need to watch certain levels in between, then set alerts.

That ability to wait for the correct opportunities is a good one to have.
Patience is a virtue! - thanks Bundy

JS
  • #48,806
  • Nov 27, 2009 5:19am Nov 27, 2009 5:19am
Quoting mbqb11
The thing about holiday markets are they are more illiquid. That is just a fact b/c you have less participants. So that can mean nothing happens b/c no one wants to get involved, or it means less money can push the markets around. So the latter occured and when the train got a moving it kept on moving

Mike
thanks for taking your time and explained it!

it make sens your explanation. It mean that it's our time to control the market but that depends on how much do you have.

wish you the best!
  • #48,807
  • Nov 27, 2009 5:30am Nov 27, 2009 5:30am
Small Pin on a pullback set to BE early taking no chances here.
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"Whether you think you can or can't, you're right." Henry Ford
  • #48,808
  • Edited 9:34am Nov 27, 2009 5:37am | Edited 9:34am
Will anyone be going long on break...if this PB closes as is? It would be nice if daily candle closes above 87.00
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  • #48,809
  • Nov 27, 2009 5:41am Nov 27, 2009 5:41am
Quoting bundyraider
There's more to this longer time frames gig than meets the eye.

The great aspect about trading those longer time frames is instilling that ability to wait for the best trades and, once in one, to wait out a trades various "noise" phases . If you can do that (i.e not checking back every hour on a daily or weekly trade), you've developed a great skill that will work with ALL time frames later on. If you need to watch certain levels in between, then set alerts.

That ability to wait for the correct opportunities is a good one to have.
And those higher timeframe levels are lethal when planning lower timeframe trades. Just a single bar high that matches up with another single bar low on the weekly....and in a 4H pinbar.....it can be deadly.

We're so used to the big visual PPZs here with the tons of bar highs and bar lows. I'd encourage everyone to look at the tiny ones on the weekly. A weekly high point is an area everyone watches.

And yes bundy, it's a real skill to not babysit a trade and I think it only comes with painful experience. Painful experience that I am accruing at the moment. I shorted the GJ from 150.00 and again further down, and the NU from the 4H bar at the very top. I closed both for the best week I've ever had trading, but had I held on for my original targets then....well....it would have been a week that beat any month I've ever had.

A lot is just experience I think. And that just accrues over time.
  • #48,810
  • Nov 27, 2009 6:04am Nov 27, 2009 6:04am
Price made it above initial resistance. Weekly Pivot would be a nice short trade.
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"Whether you think you can or can't, you're right." Henry Ford
  • #48,811
  • Nov 27, 2009 6:40am Nov 27, 2009 6:40am
eur/cad was a great opportunity to short:

ppz, round number, divergence...
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meine augen sind die sterne
  • #48,812
  • Nov 27, 2009 6:40am Nov 27, 2009 6:40am
you guys forget about our weekly timeframe trades?


EURAUD is killing it. I didn't take that one though.


I did, however catch the break of the weekly BEOB on NZDUSD. THIS IS A WEEKLEY bar trade. I plan on holding this for a while.

Stop already moved to B/E, full position open.
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Many choose unhappiness over uncertainty.
  • #48,813
  • Nov 27, 2009 7:37am Nov 27, 2009 7:37am
hey guys

when rac speaks you should pay attention

On the e/u and yen crosses was late to enter because at that time I was off the market, but expected this move

all this move where "predictable" if you know where to look, everything it's based on supply and demand.

wish you the best!!
edit: those 2 trade take it on my tyni live account

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  • #48,814
  • Nov 27, 2009 7:53am Nov 27, 2009 7:53am
Quoting triger88990
when rac speaks you should pay attention
Indeed!

Quoting triger88990
On the e/u and yen crosses was late to enter because at that time I was off the market, but expected this move

all this move where "predictable" if you know where to look, everything it's based on supply and demand.

wish you the best!!
edit: those 2 trade take it on my tyni live account

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Me too! me too!

Great trades there triger

Thanks rac!

These are some extra pocket money for the weekend
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  • #48,815
  • Nov 27, 2009 8:23am Nov 27, 2009 8:23am
Hi Guys,

Not to sure if these are your sort of thing or not, i.e. no confluence level or fib etc.

But so far they are both highly trending.

What do you think if they close as pins going into the weekend?

Jason
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  • #48,816
  • Nov 27, 2009 8:25am Nov 27, 2009 8:25am
nice trades everyone but all i can do is watch casuse I am on holidays and after a couple of loosers I came to know that trading from mobile mt4 could be difficult. (btw I would like a smiley of :at wits end: here but cant)
  • #48,817
  • Nov 27, 2009 8:51am Nov 27, 2009 8:51am
Daily Gold Looks like a bearish Reversal PB....should not go long IMHO. But the daily UJ is looking good for a Sunday long...

Quoting TraderJay101
Hi Guys,

Not to sure if these are your sort of thing or not, i.e. no confluence level or fib etc.

But so far they are both highly trending.

What do you think if they close as pins going into the weekend?

Jason
  • #48,818
  • Edited 9:25am Nov 27, 2009 9:08am | Edited 9:25am
Quoting batesmotel
Daily Gold Looks like a bearish Reversal PB....should not go long IMHO. But the daily UJ is looking good for a Sunday long...

UJ -I will be waiting and watching this space for Sunday on the UJ.

Gold -Ok, I am with you now, gold looking like a bearish reversal pin because it is forming at the top of a trend rather than the bottom. But ... the previous bar was bearish, therefore the pin could be said to be forming at the bottom of a little trend. I think I must be looking at gold and attaching my feelings to it.

Thanks

Jason
  • #48,819
  • Nov 27, 2009 9:38am Nov 27, 2009 9:38am
Quoting bundyraider
There's more to this longer time frames gig than meets the eye.

The great aspect about trading those longer time frames is instilling that ability to wait for the best trades and, once in one, to wait out a trades various "noise" phases . If you can do that (i.e not checking back every hour on a daily or weekly trade), you've developed a great skill that will work with ALL time frames later on. If you need to watch certain levels in between, then set alerts.

That ability to wait for the correct opportunities is a good one to have.
bingo

Most trade the lower timeframes and have poor decision making abilities b/c they haven't been able to grasp the material to make those decisions faster. The daily instills a lot of qualities that will help you on the lower timeframes if one ever decides to venture that way. The discipline it takes to just be able to close your charts down everyday cause there are no great trades will take you much further on that quality alone then most will ever get too.

Still recovering from a food hangover

Mike
  • #48,820
  • Nov 27, 2009 9:40am Nov 27, 2009 9:40am
Quoting Area51
Hi Mike.

That makes sense. But from there what happens? Is the market now out of kilter from where it would normally have been. Will the preceding direction, sentiment return.
I know you cannot answer that for sure but I guess that if the recent moves are aberrations would it be reasonable to expect some form of normality to return?

I imagine the answer is really to wait and see. As you have pointed out in the past, there is no rush!

A51
Hey A

I think this is all part of a normal market as every year we have the same holidays etc. We see this happen around new years/xmas etc. The market is always going to do what it wants. PA still worked more then fine even in these illiquid markets the last few days. Monday will be back to business and traders will resume what they look for(whatever that may be) just as they did before turkey day. We don't have to do anything but do the same as well

Mike
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