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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

  • #53,441
  • Jan 30, 2010 6:57am Jan 30, 2010 6:57am
Heya .. i really love this thread and all participants.. it a great read

but damn this is a HUGE thread.. iam currently at page 625 .. still alot to read thou..

i copy pasted some intteresting posts .. and PA pdf files.. and put them into
a pdf... well its not a beautiful ebook.. but hey i never written or designed a book... and the intrinsic values counts ...

but it contains the basics and alot of nice posts.. check it out if ya interrested..

http://www.mediafire.com/file/gywommidytz/James16.pdf


cheerz
  • #53,442
  • Jan 30, 2010 7:02am Jan 30, 2010 7:02am
Quoting PrymeTyme
Heya .. i really love this thread and all participants.. it a great read

but damn this is a HUGE thread.. iam currently at page 625 .. still alot to read thou..

i copy pasted some intteresting posts .. and PA pdf files.. and put them into
a pdf... well its not a beautiful ebook.. but hey i never written or designed a book... and the intrinsic values counts ...

but it contains the basics and alot of nice posts.. check it out if ya interrested..

http://www.mediafire.com/file/gywommidytz/James16.pdf


cheerz
This is a great resource PT. Looking forward to going through it as a nice review tool.
  • #53,443
  • Jan 30, 2010 7:03am Jan 30, 2010 7:03am
Hey guys,

I been away from the forum (posting) lately. I decided to pull back and concentrate on Daily and 4HR for awhile and compare my results to previous intraday. Took a nice little vacation down to San Juan Del Sur Nicaragua and literally did not open charts for 5 days. Unspoiled beaches, beautiful women, great rum and good food...I highly recommend.

But in the past month my stress level is way down and my winning percentage is way up, so I think I can live with that. I mostly been checking the Daily, then I wake up to check the 8Z and later the 12Z. Pretty simple.
"Whether you think you can or can't, you're right." Henry Ford
  • #53,444
  • Jan 30, 2010 10:45am Jan 30, 2010 10:45am
Quoting mbqb11
Hey Dan

Yes those are some of my bread and butter intraday round number plays. These are the most common types of scenarios I play for continuation bars. You get a ranging on a round number, then a outside bar engulfs the range and tips you off where it is going, and manage accordingly...
Hi Mike,

When you're looking at OBs in this way (straddling a BRN) what tf are you looking at? 4hr or 1hr? (or both?!)
  • #53,445
  • Jan 30, 2010 11:12am Jan 30, 2010 11:12am
Quoting wh1zz0
I've gotten some PM's asking me to explain a little bit about what I meant in my post when I made reference to looking at / seeing price movement in the market as a function of demand & supply. I have responded in different emails but think I should post it here instead of having to reply all the time about the same thing. Of course it's nothing new to the old dogs here (as it is not a new fact)...
well said/explained nice and simple
  • #53,446
  • Jan 30, 2010 11:17am Jan 30, 2010 11:17am
Quoting PrymeTyme
Heya .. i really love this thread and all participants.. it a great read

but damn this is a HUGE thread.. iam currently at page 625 .. still alot to read thou..

i copy pasted some intteresting posts .. and PA pdf files.. and put them into
a pdf... well its not a beautiful ebook.. but hey i never written or designed a book... and the intrinsic values counts ...

but it contains the basics and alot of nice posts.. check it out if ya interrested..

http://www.mediafire.com/file/gywommidytz/James16.pdf


cheerz
all i can say is woow you really did well dont lie that is not a nice ebook, its just great, a good reminder on how you should trade
  • #53,447
  • Jan 30, 2010 11:29am Jan 30, 2010 11:29am
Just a little heads up for ya Mike .
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  • #53,448
  • Jan 30, 2010 11:31am Jan 30, 2010 11:31am
Quoting james16
i dont think people understand what a profound statement this is.

within it stands why what we do really is a way to financial freedom if we are patient, learn it, practice it and generally accept that anything worth having of this magnitude will take some work.

what a great feeling to know that if your on this road with us here your not busting your gut for nothing.

its been proven over and over and over.

show me another thread at any forum, show me any website that can say what they do has been proven to actually build accounts long term...
These are always great. Thanks Jim.

They provide so many things . . . .The importance of being patience, confidence, higher time frames, inspirational . . . . . and on and on.
Indicators show the past. Price Action "Indicates" the future.
  • #53,449
  • Jan 30, 2010 11:32am Jan 30, 2010 11:32am

Hey guys,

First of all, being my first post here, i would like to thank everyone for this wonderful thread. Lots of great trades and ideas coming from great people willing to share with the rest of us.

Straight to the point, as i'm not a man of many words, here's my take on the USD/JPY weekly:

+bullish pin bar
+round number
+50% and 38.2% fib
+decent volume
+swing low(?)

-longer body would have been nice
-downtrend (but maybe it's time for 95 again, who knows)

If i were to play this long (i'm doing the 3 months demo) i would watch for 92 as the most troublesome area. Anyways, being a countertrend, a tight management is necessary.

Any takes on this would be appreciated. How would you rate it (I don't know the ranking system, haven't found it yet on this thread)?

Thank you again guys, you really deserve it.

http://content.screencast.com/users/...30_usdjpyW.png

  • #53,450
  • Jan 30, 2010 11:33am Jan 30, 2010 11:33am
Quoting james16
well that got a laugh out of me for sure

.
lol
Indicators show the past. Price Action "Indicates" the future.
  • #53,451
  • Jan 30, 2010 11:37am Jan 30, 2010 11:37am
Quoting Dale
A friend sent me this, it's funny

http://llerrahmusic.com/viewcard.php?code=236079

Who knew Dale was a funny guy.
Indicators show the past. Price Action "Indicates" the future.
  • #53,452
  • Jan 30, 2010 11:55am Jan 30, 2010 11:55am
Just started looking over my charts at the end of the month and the first one (USD / CAD) is attached below. Nearing a sell area on the bigger timeframes (from a PPZ persepctive) ...scrolling down the time frames can see we have broken recent highs...so might look to take a position long if we get a retest of this broken resistance ... we have divergence on the RSI so I would be looking for a pullback and some price action on the 1h / 4h i.e. pin bar, BUOB or DBLHC for confirmation first.
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  • #53,453
  • Jan 30, 2010 12:02pm Jan 30, 2010 12:02pm
A technical question guys, admittedly showing my ignorance here!

What directional affect does an interest rate hike have on a currency?

The Aussies are expected to raise their rate on Tuesday so will that mean AUD/USD will rise, or fall?

I'm thinking rise due to the interest differential that will occur but surely there's not a large enough differential for carry trades so that isn't a factor?
  • #53,454
  • Jan 30, 2010 12:22pm Jan 30, 2010 12:22pm
If a country raises its intrests rates that usually means the currency will go up.

So AUD/USD should go up. But you can never be sure what will happen.
  • #53,455
  • Jan 30, 2010 12:46pm Jan 30, 2010 12:46pm
Quoting MattW
A technical question guys, admittedly showing my ignorance here!

What directional affect does an interest rate hike have on a currency?

The Aussies are expected to raise their rate on Tuesday so will that mean AUD/USD will rise, or fall?

I'm thinking rise due to the interest differential that will occur but surely there's not a large enough differential for carry trades so that isn't a factor?
Raise of interest rate = debt investments more attractive = more demand = stronger currency.

This is a good tool for having a general direction sense...but of course - trading off the charts is what really maters (unless you wana be one of those 95% ).

Ben
  • #53,456
  • Jan 30, 2010 1:05pm Jan 30, 2010 1:05pm
Quoting kayhan7070
hi guys

i am looking to go long at the 1.3750. we have confluence at fib 61.8 and 50 and a strong support with divergence.

what are your thoughts?

thanks
Nice chart kayhan. Yes many are watching this location on the Euro with its strong PPZ level and confluences you have noted.


. . looking to go long . . . is a valid bias to have at this level, so we would look for strong Bullish Price Action off this level.

Example 1: Daily Eur/Usd BUOB.
Earlier last year in April 2009. Same relative confluences and strong PPZ level. But note the hightlighted area in Bisque (Bisque? it looks light brown to me), it wasn't falling very fast to get this confluenced level. It kind of chopped its way down making the BUOB a bit more easier to take.

Example 2 : Daily Eur/Usd BEOB Jan 2009.
Here we have the same relative confluences at this location but notice the highlighted area in light brown. The move down was pretty strong. Big red bars. To go long we would need as Mike would say . . . Big Bold Bullish Bars to compensate for this strong move down. Yet a BEOB as a continuation off this strong level and strong move down was not a risky a play if managed correctly. Although these BEOBs are best played off a swing highs.

Example 3 : Daily Usd/Cad Double Inside Bar (Dale's Double) July 2009

Same senario location wise. Price has fallen a long way, very hard. Big Bold Bullish PA for a long or common sense Bearish PA as a continuation.
_______________________________________________________________________________


The current Euro looks to be falling pretty hard towards this level (1.37-1.38) PPZ, etc. I'm not ruling out your . . . look to go long . . I'm just saying that this situation with the Euro ( as with all good location where Price is heading) should be looked at from both angles.
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Indicators show the past. Price Action "Indicates" the future.
  • #53,457
  • Jan 30, 2010 1:20pm Jan 30, 2010 1:20pm
Quoting MattW
A technical question guys, admittedly showing my ignorance here!

What directional affect does an interest rate hike have on a currency?

The Aussies are expected to raise their rate on Tuesday so will that mean AUD/USD will rise, or fall?

I'm thinking rise due to the interest differential that will occur but surely there's not a large enough differential for carry trades so that isn't a factor?
High interest rates -> High yields on T-bills and Bonds -> People Wan't those Bonds/T-bills -> People will need this country's currency to buy these Bonds/T-Bills -> Currency UP.

So that's a High Reward situation for these T-bills/Bonds, So obviously buyers will also evaluate the RISK associated with the REWARD.

And the RISK imo is if GOLD breaks downwards..................

Thats my view which could be very wrong but i think this how it should be, Just an opinion.

I wish Joelcf would be here.

Anyways back to the charts.

.
  • #53,458
  • Jan 30, 2010 1:26pm Jan 30, 2010 1:26pm
Yeah I have a feeling that rising interest rates for the coming year will cause gold to break south. But others seem to be looking to Long it.

At the moment I'm feeling a lot of markets are showing TA and fundamental analysis that don't agree with each other!
  • #53,459
  • Jan 30, 2010 1:35pm Jan 30, 2010 1:35pm
Quoting MattW
Yeah I have a feeling that rising interest rates for the coming year will cause gold to break south. But others seem to be looking to Long it.

At the moment I'm feeling a lot of markets are showing TA and fundamental analysis that don't agree with each other!
fundamental analysis: Can not tell you which way price will go, but can give you all the reasons why.....
Many choose unhappiness over uncertainty.
  • #53,460
  • Jan 30, 2010 1:39pm Jan 30, 2010 1:39pm
Quoting jarroo
Nice chart kayhan. Yes many are watching this location on the Euro with its strong PPZ level and confluences you have noted.


. . looking to go long . . . is a valid bias to have at this level, so we would look for strong Bullish Price Action off this level.

Example 1: Daily Eur/Usd BUOB.
Earlier last year in April 2009. Same relative confluences and strong PPZ level. But note the hightlighted area in Bisque (Bisque? it looks light brown to me), it wasn't falling very fast to get this confluenced level. It kind of chopped its way down making...
HI Jarroo ,thanks for the charts an the explanations . Question ? Could

we be looking at a retrace at the 138 level to the 143. ( 50 % fib level )

A good P A as the trigger ! Thanks for all you do !! Cherrs ,Gary
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