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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

  • #52,981
  • Jan 26, 2010 11:22pm Jan 26, 2010 11:22pm
Quoting mbqb11
yeah I did that decided to get out late in the day . Wasn't in love with the mess underneath hopped out

On to the next one
hmmmm.... I have been putting my B/E's in the winners column though seems like a good winning tade to me mike
Many choose unhappiness over uncertainty.
  • #52,982
  • Jan 26, 2010 11:48pm Jan 26, 2010 11:48pm
Quoting Cbh123
...Now that I've finished my academy award speech, haha, I want to let anybody new to the thread know this stuff works. I have never had a profitable month in my trading before coming here, and I am currently in my 2nd profitable one (on demo of course ) trading only daily bar setups. I am still dealing with my urge to overtrade, but am finding it easier and easier to pass on less than perfect setups each time one nails me for a loss...
I haven't read all the thread (yet) but ever since trading Jim's PA a sense of confident in taking trades fills me.. U know what you're doing, where you're heading and what to avoid along the way to arrive there safely..

Now reading your post I'm inspired to go all the way back to where I stopped
Just then when I finish I'll start posting again .. Better catch up quick this thread moves exponentially fast alright .
  • #52,983
  • Jan 27, 2010 12:04am Jan 27, 2010 12:04am
Sart the day with Gold.
.
.
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  • #52,984
  • Jan 27, 2010 12:51am Jan 27, 2010 12:51am
Quoting MattW
Outside Bars.... the bigger the better?
I agree, the more I traded them, the more I look for something that looks like this, a speaker in fxstreet, Sam Seiden which specializes in trading with orderflows said that trapped money = momentum, watch his videos, they're really good IMO in terms of understanding the markets from it's very basic, the days of Adam Smith : supply and demand, although he dont tell us to use bigger timeframes, but he's always saying that he's a swing trader, so that speaks for itself I think

this is what I look for :
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  • #52,985
  • Jan 27, 2010 12:59am Jan 27, 2010 12:59am
brilliance in full view here folks.

a lot of futures daytraders work off of this principle. if the breakout from this trapped money happens to fall on a big round number its even better.

very nice,

jim

Quoting marcelnyo
I agree, the more I traded them, the more I look for something that looks like this, a speaker in fxstreet, Sam Seiden which specializes in trading with orderflows said that trapped money = momentum, watch his videos, they're really good IMO in terms of understanding the markets from it's very basic, the days of Adam Smith : supply and demand, although he dont tell us to use bigger timeframes, but he's always saying that he's a swing trader, so that speaks for itself I think

this is what I look for :
  • #52,986
  • Jan 27, 2010 1:24am Jan 27, 2010 1:24am
Quoting Dan Gilbert
I'm hoping for a huge spit down to 140.00 like we had 11-25-2009....
I think you'll get your wish dan, but about the huge spit I wouldn't know

143.5 support is exhausted.
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  • #52,987
  • Jan 27, 2010 1:42am Jan 27, 2010 1:42am
Quoting james16
brilliance in full view here folks.

a lot of futures daytraders work off of this principle. if the breakout from this trapped money happens to fall on a big round number its even better.

very nice,

jim
wow... I'm really honored... thanks a lot Jim, this means a lot, I don't think I'm worthy of the compliment though, I'm simply resounding what Sam Seiden said.

but if me pointing this out could help the others, I'm all in
  • #52,988
  • Jan 27, 2010 1:55am Jan 27, 2010 1:55am
Quoting marcelnyo
I think you'll get your wish dan, but about the huge spit I wouldn't know

143.5 support is exhausted.
Nice analysis.

Would you mind telling me what sotware you use to write comments on your chart, thanks.
  • #52,989
  • Jan 27, 2010 1:57am Jan 27, 2010 1:57am
Quoting nasir.khan
Sart the day with Gold.
.
.
Stoped at BE.

Here's the new plan.
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  • #52,990
  • Jan 27, 2010 1:59am Jan 27, 2010 1:59am
Quoting nasir.khan
Stoped at BE.

Here's the new plan.
Don't fight the trend brother.

I like your Gold.

Edit: just saw that was a buy on gold . . . thought it was a sell. . . . don't fight the trend brother.
Indicators show the past. Price Action "Indicates" the future.
  • #52,991
  • Jan 27, 2010 2:08am Jan 27, 2010 2:08am
Quoting lovejoy80
Nice analysis.

Would you mind telling me what sotware you use to write comments on your chart, thanks.
Yes I do mind...

in fact I'm so irritated that you asked the question, I'll even give you the link to download it for free here

It's called Jing, from techsmith, it's free and it's great, enjoy!

and btw, I take only pips, by the market

PS: I hope I didn't break any rules posting the links there.
  • #52,992
  • Edited 2:27am Jan 27, 2010 2:13am | Edited 2:27am
Looks like NZD is trying to gather some real bearish momentum here. This is good for my NZD/USD (from monthly chart) & NZD/CHF (from weekly) longer term shorts.

Minor regular bullish divergence on the NC hourly though for those interested in a quick scalp or intra-day trade. But my bias is still to the downside from weekly chart.

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  • #52,993
  • Jan 27, 2010 2:22am Jan 27, 2010 2:22am
Quoting ghous
Let's take a look...

Eur/jpy was never a long IB trade. Notice all the heaps and heaps of bar lows above the IB that a long trade would immediately be running into, if you look at the purple ppz I've drawn on my chart you'll see that the IB was nothing but a retest of the purple ppz which price was finally able to break after 4 unsuccessful attempts,

Now the Gbp/Nzd IB trade...clearly it has nothing to support it except maybe the fact that it was with the overall trend, I've attached a Eur/Usd 4H chart with an example of how we like our IBs...notice...
Thank you ghous, you keep me away from my emotion, and keep me continue moving on in the game.

Thanks to all people participate in this thread, it keep me from blowing my account at the first time.
Back to the beginning ... demo
  • #52,994
  • Jan 27, 2010 2:37am Jan 27, 2010 2:37am
Quoting jarroo
Don't fight the trend brother.

I like your Gold.

Edit: just saw that was a buy on gold . . . thought it was a sell. . . . don't fight the trend brother.
This is what caught me the most when I was touch trading...Every now and then the trend "seemed" to be reversing, and each time price would merely only stall and then continue with the previous flow and I would get stopped out. I ended up digging again despite knowing I was in a hole.

Mark (Raczekfx) has been trading his swings for 15 years now and the what's on his chart is not all that he is looking at. When he shorts on a bullish trend and longs on a bearish trend he knows, better than we can ever imagine, what he is up to.

I agree with jarroo 110%...

g.
I believe . . .
  • #52,995
  • Jan 27, 2010 2:38am Jan 27, 2010 2:38am
Quoting goldtrader
Thank you ghous, you keep me away from my emotion, and keep me continue moving on in the game.

Thanks to all people participate in this thread, it keep me from blowing my account at the first time.
Glad to be of some minor assistance

g.
I believe . . .
  • #52,996
  • Jan 27, 2010 2:48am Jan 27, 2010 2:48am
Quoting ghous
This is what caught me the most when I was touch trading...Every now and then the trend "seemed" to be reversing, and each time price would merely only stall and then continue with the previous flow and I would get stopped out. I ended up digging again despite knowing I was in a hole.

Mark (Raczekfx) has been trading his swings for 15 years now and the what's on his chart is not all that he is looking at. When he shorts on a bullish trend and longs on a bearish trend he knows, better than we can ever imagine, what he is up to.

I agree with...
PA with trend is always the best, i.e retracement PA (with confluences of course).

The Rac-man can spot these walls that stop the trend . . these heavily layered confluenced levels. We can spot them too, but Rac can fine tune them to a horizonal line. lol
Indicators show the past. Price Action "Indicates" the future.
  • #52,997
  • Jan 27, 2010 2:50am Jan 27, 2010 2:50am
Quoting jarroo
Don't fight the trend brother.

I like your Gold.

Edit: just saw that was a buy on gold . . . thought it was a sell. . . . don't fight the trend brother.
wow... my post got deleted because of a connection error, doh.

I was talking about trends, how the trades I took recently which I thought was with the trend... (long EURGBP, short USDCHF) was actually stopped out for a small loss or at BE when the market turned around at me, and the breakout wasn't really all hard and fast.

On the contrary, trades that I took "Counter Trend" is actually profiting 5 times the amount I risked currently (short AUDUSD, long USDCAD)

Which brings me to the thought of whether I was reading the wrong trend...
  • #52,998
  • Jan 27, 2010 2:51am Jan 27, 2010 2:51am
BEOB GBP/JPY on daily . I just feel Grrrreat
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  • #52,999
  • Jan 27, 2010 2:53am Jan 27, 2010 2:53am
Quoting Riskee
BEOB GBP/JPY on daily . I just feel Grrrreat
Hey Mike,

How would you rate such outside bars?? I mean these are not exactly at a swing high, they're not even at a pull back...they are right in the middle of a downtrend/uptrend...

what's your take on these??

g.
I believe . . .
  • #53,000
  • Jan 27, 2010 3:01am Jan 27, 2010 3:01am
Hi Ghous,
What I see is not a BEOB on the GBPJPY I have reversal in the form of a 2 day pin bar...
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Without women, money would have no meaning - Aristotle Onassis
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