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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

  • #50,621
  • Jan 3, 2010 1:25pm Jan 3, 2010 1:25pm
I also realize that my involvement with the thread is a one way process, ie, I am only taking and not giving. Therefore a heartfelt thanks for taking the trouble to answer. (Mike and others)
  • #50,622
  • Jan 3, 2010 1:26pm Jan 3, 2010 1:26pm
Hi Peter

If you go to babypips dot com click on the school tab it free.

It will give you the min. you need to get started.

John
  • #50,623
  • Jan 3, 2010 1:26pm Jan 3, 2010 1:26pm
Quoting PeterPan
I also realize that my involvement with the thread is a one way process, ie, I am only taking and not giving. Therefore a heartfelt thanks for taking the trouble to answer. (Mike and others)
ah but that is where you are wrong. By asking questions you are giving b/c others need those answers too

Mike
  • #50,624
  • Jan 3, 2010 3:49pm Jan 3, 2010 3:49pm
Quoting XNAdam
The breakup was what it was. Gotta accept the loss and move on, right?
Should have shorted her before she got dumped into the market

Welcome to the trading gang! Great bunch of people here, as you probably know, so post plenty of charts/trade ideas to get feedback - having Mike or Jim (or Mike or Jim) look over your trades is a huge leg up in the learning curve.
When you have to shoot, shoot. Dont talk.
  • #50,625
  • Jan 3, 2010 4:42pm Jan 3, 2010 4:42pm
Quoting joelcf
Should have shorted her before she got dumped into the market

Welcome to the trading gang! Great bunch of people here, as you probably know, so post plenty of charts/trade ideas to get feedback - having Mike or Jim (or Mike or Jim) look over your trades is a huge leg up in the learning curve.
Can't do it without the guys in this thread (serious)
Many choose unhappiness over uncertainty.
  • #50,626
  • Jan 3, 2010 6:00pm Jan 3, 2010 6:00pm
Quoting joelcf
Should have shorted her before she got dumped into the market
haha! this is probably the best response I've received on the matter.

Quoting joelcf
Welcome to the trading gang! Great bunch of people here, as you probably know, so post plenty of charts/trade ideas to get feedback - having Mike or Jim (or Mike or Jim) look over your trades is a huge leg up in the learning curve.
Thanks! I don't know why I waited this long to become more active. Guess I just like to wait until I can either contribute something or, at least, not ask uber-noobish questions.

But yeah, I suppose the latter isn't all that important. As you said, great bunch of people here. From what I can tell, Jim and Mike and the crew are the incarnations of patience.

Can't wait to get this year rolling with you guys.

- A

EDIT: Awesome signature Dan. I work right down the street from Financial Peace Plaza. Dave Ramsey ftw.
  • #50,627
  • Jan 3, 2010 6:53pm Jan 3, 2010 6:53pm
Quoting mbqb11
Hey Dan

You are going to have a lot of lines on your charts. I personally do keep lines at every 500 pips of big round numbers. This is a personal preference. 100 would be too many lines for me to have looking at my charts. As for how many weekly bars, I really don't give it a set number too me it is just a look.

Best
Mike

I have a few different saved templates of different data now. I will work on a template now (already started it) where I have a horizontal line every 500 pips, and only draw VERY valid ppz's from the weekly's...


I would imagine you do a lot more trading on pairs hovering around those 500 pip increments. I caught a good intra-day touch buy on USDCAD last week at the 1.05 round number. And already tonight a good PA trade could have been executed on the 1hr pin straddling that very big round number.


Can't thank you enough.
Many choose unhappiness over uncertainty.
  • #50,628
  • Jan 3, 2010 7:26pm Jan 3, 2010 7:26pm
something very "spotable"

Should be an interesting week for this pair.
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Many choose unhappiness over uncertainty.
  • #50,629
  • Jan 3, 2010 9:08pm Jan 3, 2010 9:08pm
Quoting Dan Gilbert
something very "spotable"

Should be an interesting week for this pair.
Would a good trade be a break to the downside of that trendline? If so how many pips below would be your entry?

thx
bulls

ps attached my own chart. it seems we broke one TL to the downside already, correct?
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Whats happening in EUR/USD should be happening to you!
  • #50,630
  • Jan 3, 2010 9:48pm Jan 3, 2010 9:48pm
Quoting BullsAndBear
Would a good trade be a break to the downside of that trendline? If so how many pips below would be your entry?

thx
bulls

ps attached my own chart. it seems we broke one TL to the downside already, correct?

I don't like using any trendline or PPZ to the exact pip if there's no round number confluenced to it. so if price "breaks" the trendline by a few pips, it doesn't matter. You need a valid, strong break. I wouldn't jump into a sell stop order on a break of this support trendline. Personally, If I'm awake and alert when the line breaks, I would anticipate a speedy retracement back to the .8855 price area, and then look for PA on the lower time frames to catch the fall. In the mean time I'm thinking it will continue to consolidate tighter as the price is going up at the moment off that 8850 weekly ppz/trendline. I had a hard time reading your chart so if I misunderstood i apologize....
Many choose unhappiness over uncertainty.
  • #50,631
  • Jan 4, 2010 12:31am Jan 4, 2010 12:31am
PA.
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  • #50,632
  • Jan 4, 2010 3:39am Jan 4, 2010 3:39am
Quick 1% in the bag when you know what you're doing. Quick 1% in the bin when you don't.

.
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I believe . . .
  • #50,633
  • Jan 4, 2010 3:42am Jan 4, 2010 3:42am
Quoting ghous
Quick 1% in the bag when you know what you're doing. Quick 1% in the bin when you don't.

.
Ohh boy Beautiful/clean chart bro.
  • #50,634
  • Jan 4, 2010 4:31am Jan 4, 2010 4:31am
Is there a preferred time of when to open/close the daily bars? As of now mine open/close at Midnight CST. I would prefer not having to be up so late to have to enter a trade.

Would the bars o/c at say 6:00 am CST affect James' trading methods?
  • #50,635
  • Jan 4, 2010 5:46am Jan 4, 2010 5:46am
ninreznor,
Greetings! nice first post

this has been recently discussed. see here.
if necessary, check the time conversion here.

having said that, u can trade other daily bars (with different time o/c). that's the beauty of this method.

Good luck this 2010!!!
  • #50,636
  • Jan 4, 2010 5:59am Jan 4, 2010 5:59am
Ghous,

All day nice and simple pin trades I love it.
"Whether you think you can or can't, you're right." Henry Ford
  • #50,637
  • Jan 4, 2010 6:30am Jan 4, 2010 6:30am
1hr pin, 4hr IB.... test of the previous 7 day low (almost).
What else you want for the confirmation, before diving in....

Now, are we going to hit 1.45 or reverse from 1.4450..?

If you already moved your stops to BE +++, you might as well tell me
"Who cares rac...."
.
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  • #50,638
  • Jan 4, 2010 6:32am Jan 4, 2010 6:32am
Continued on H4

Quoting ghous
Quick 1% in the bag when you know what you're doing. Quick 1% in the bin when you don't.

.
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  • #50,639
  • Jan 4, 2010 6:44am Jan 4, 2010 6:44am
Quoting raczekfx
1hr pin, 4hr IB.... test of the previous 7 day low (almost)....
.
Happy New Year rac (cant get through your PM, as usual )
  • #50,640
  • Jan 4, 2010 6:50am Jan 4, 2010 6:50am
Hello Guys
Happy New Year to all!
Its great place to be in. Been lurking and learning for past couple of months and looks like things are getting inside my brain.

H4-GCf short:
1. 8 hour reversal pattern at Strong PPZ.
2. Round No.
3. 50% fib
4. 365 EMA.
5. With Trend.

Cheers
Punter
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