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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

  • #49,421
  • Dec 8, 2009 10:10pm Dec 8, 2009 10:10pm
well i would just like to confirm that the 3rd rounds indy i tried and tested "spacedlines" is awesom. The others i wouldnt even waste my time with. spacedlines doesnt chew up any of your cpu or memory and mt4 and my computer now run like a dream

thankyou who ever posted this indy up
  • #49,422
  • Dec 8, 2009 10:13pm Dec 8, 2009 10:13pm
Hi all,
Watching and waiting for a break below, could provide a 300 pip move. Very strong resistance around that 80.00 number, it's been here quite a few times before, and reacted strongly, lets see what happens.....
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Without women, money would have no meaning - Aristotle Onassis
  • #49,423
  • Dec 8, 2009 10:29pm Dec 8, 2009 10:29pm
Quoting mattfx
Hi all,
Watching and waiting for a break below, could provide a 300 pip move. Very strong resistance around that 80.00 number, it's been here quite a few times before, and reacted strongly, lets see what happens.....

I hope you and I are both right about our views on the yen crosses
Many choose unhappiness over uncertainty.
  • #49,424
  • Dec 8, 2009 11:17pm Dec 8, 2009 11:17pm
Quoting supermatt
after doing some new research into this new grid indicator that was put up on here I am still having the same issues. it makes cpu work alot harder and chews up memory unfortunately. It seems weird that only a few lines makes a big difference.
Doubt i will be using those round numbers anymore

ill just have to draw a few on in the most relevant spots myself.
Try this one,

it only draw three lines one very near, one above and one below.
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Attached File(s)
File Type: mq4 SpacedLines .mq4   4 KB | 498 downloads
  • #49,425
  • Dec 9, 2009 12:42am Dec 9, 2009 12:42am
Quoting Dan Gilbert
I'm going to post this dilemma... on one hand, we have made quite a move down already, so maybe a correction will happen here, instead of a continuation down. On the other hand, we also have broken that PPZ and it looks almost as though the line has become resistance.


My other concern is that if it does break to downside, it's not going to be very long before it smacks the 61.8 retracement line on the last swing up (we know how much of a pain that fib level can be).


If anyone has a different bias, lemme know!

S/L moved to break-even (moved to B/E on contact of 61.8 retracement line), first profit target area @ 142.00. See you guys tommorow!
Many choose unhappiness over uncertainty.
  • #49,426
  • Dec 9, 2009 12:47am Dec 9, 2009 12:47am
Quoting Dan Gilbert
S/L moved to break-even (moved to B/E on contact of 61.8 retracement line), first profit target area @ 142.00. See you guys tommorow!

Stop loss to BE = you can sleep on it....

Cheers
Without women, money would have no meaning - Aristotle Onassis
  • #49,427
  • Dec 9, 2009 1:23am Dec 9, 2009 1:23am
Quoting frankm7
Hey Mike, this brings an interesting point; does that mean you plot your S/R levels independently too?

I identify big round numbers on the weekly and that's it, even if I'm trading on the 4H. However, I've noticed I might be better off plotting them on the daily too, as to get a more accurate alignment. Thanks in advance!

Hey Frank

I don't depend entirely on a round number. It is again more just a framework. So I am always looking for major and minor s/r. I don't neccesarily plot every little support and resistance. I tend to note it as I am looking to get into a trade, or a trade progresses. So for example I don't care about a very minor s/r flip, but I will note if I am actually in a trade as opposed to using it to trade off. I don't do things like plot s/r from the weekly and trade off that the daily/4hr etc. I look at the s/r on each timeframe by itself, and believe you can make all your decisions on that one timeframe. For example, I posted about getting in the gold weekly pin. The thought process is simple. it is big pin, divg, round number, etc. Then I go into where is it likely to go, both major and minor areas, and then I decide how to proceed with trade mgmt.

Hope this helps
Mike
  • #49,428
  • Dec 9, 2009 3:54am Dec 9, 2009 3:54am
Quoting supermatt
well i would just like to confirm that the 3rd rounds indy i tried and tested "spacedlines" is awesom. The others i wouldnt even waste my time with. spacedlines doesnt chew up any of your cpu or memory and mt4 and my computer now run like a dream

thankyou who ever posted this indy up
Completely agree. Good development guys/gals. I like being able to just show the 'near' RNs.
  • #49,429
  • Dec 9, 2009 4:37am Dec 9, 2009 4:37am
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While @ 112 pips on gold (& 286 pips) I closed half and move SL to BE, now a BEOB appears (as indicated in circle).. I'm considering entering/placing a sell limit to add to position around 1150 area leaving TP open to the next areas in blue boxes and maybe beyond.

After waiting patiently for quite a while with no home run, maybe, just maybe this could be my Christmas gift from Santa (Some pple still believe in santa..LOL). Anyway, just keeping a close watch on this but with great peace of mind.

Although the fundamentals look bullish on Gold it's the momentum which makes me stay in this short trade. I think I like the momentum.
  • #49,430
  • Dec 9, 2009 4:41am Dec 9, 2009 4:41am
DELICIOUS H4 candles all !
GU/GJ and more .....

no time to post charts
  • #49,431
  • Dec 9, 2009 4:44am Dec 9, 2009 4:44am
morning yawl, anyone else take this pin?? great location, divergence and breaks the round number...
any thought welcome
cheers
jon

EDIT: just seen your post pipmyride, is the one??
i dont get one on gb/yen though
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PATIENCE... DISCIPLINE
  • #49,432
  • Dec 9, 2009 4:51am Dec 9, 2009 4:51am
Watching this very interesting interview between Gene Simmons and Pamela Anderson, I wish Kissfan was around to see this , I didn't think Gene was that intelligent, over the average rock'n'roller, yet man, this guy has more than enough wisdom and life experience than most will ever hope to achieve, It is only now that I can appreciate Kissfan's zealousness
Without women, money would have no meaning - Aristotle Onassis
  • #49,433
  • Dec 9, 2009 4:54am Dec 9, 2009 4:54am
Quoting pipmyride
DELICIOUS H4 candles all !
GU/GJ and more .....

no time to post charts
Be careful. It might look like a very delicious pin but watch out because price is already at it's first area of trouble (R).

I may be wrong too, just the way I see it though.

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Instead I took this a while back and I'm out.

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  • #49,434
  • Dec 9, 2009 5:15am Dec 9, 2009 5:15am
Quoting wh1zz0
Be careful. It might look like a very delicious pin but watch out because price is already at it's first area of trouble (R).

I may be wrong too, just the way I see it though.

Attachment


Instead I took this a while back and I'm out.

Attachment
I agree.

Sometimes these long nosed pins can really trick you.

What prevented me from jumping on to this one was the close.

Had it closed a buob possibly above the blue rectangle (on my chart) it would have been a prettier sight.

g.
Attached Image
I believe . . .
  • #49,435
  • Dec 9, 2009 5:22am Dec 9, 2009 5:22am
Yeah true.

If I were in this one for what ever reason, I would have my SL @ BE by now.
  • #49,436
  • Dec 9, 2009 5:23am Dec 9, 2009 5:23am
Quoting ghous
I agree.

Sometimes these long nosed pins can really trick you.

What prevented me from jumping on to this one was the close.

Had it closed a buob possibly above the blue rectangle (on my chart) it would have been a prettier sight.

g.
agreed that this is one to play on a tight lease, i feel 164.00 is possible though. i have allready closed most of the possition for a small profit. now its free so ill let it run a while??
btw it was the 3h buob on oanda that got me in rather than the pin
jon
PATIENCE... DISCIPLINE
  • #49,437
  • Dec 9, 2009 5:31am Dec 9, 2009 5:31am
Quoting g_j_hook@yah
agreed that this is one to play on a tight lease, i feel 164.00 is possible though. i have allready closed most of the possition for a small profit. now its free so ill let it run a while??
btw it was the 3h buob on oanda that got me in rather than the pin
jon
If Wh1's "first trouble area" breaks 164 sure could be quite a reality...

Again it all simplifies down to understanding the risks involved in every trade descision, when you know how to manage your risk you are definitely on the right track.

" have allready closed most of the possition for a small profit. now its free so ill let it run a while" -----> This just made my day.

g.
I believe . . .
  • #49,438
  • Dec 9, 2009 5:33am Dec 9, 2009 5:33am
heres something else i am watching, a break out and retest would be nice...???
jon
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PATIENCE... DISCIPLINE
  • #49,439
  • Dec 9, 2009 5:36am Dec 9, 2009 5:36am
This is where we diverge into different broker charts
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Without women, money would have no meaning - Aristotle Onassis
  • #49,440
  • Dec 9, 2009 5:41am Dec 9, 2009 5:41am
Quoting g_j_hook@yah
EDIT: just seen your post pipmyride, is the one??
i dont get one on gb/yen though
Thats the main one ... plus GJ massive outside candle
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