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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

  • #53,461
  • Jan 30, 2010 2:25pm Jan 30, 2010 2:25pm
Quoting gjworley1952
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
Do you mean the 38.2 fib level at the 1.43? (for the record 50% ret. is a retracement level not a Fib level, not trying to split hairs. lol)

Anyways, I see more of a retracement to the 1.4000 then the 1.4300 at or prior to reaching the 1.3800ish level. Its been a strong move down.

Yes, good PA as the trigger.
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Indicators show the past. Price Action "Indicates" the future.
  • #53,462
  • Jan 30, 2010 3:00pm Jan 30, 2010 3:00pm
Hey Mike, thanks for sharing the 50 fib entry idea for pinbars, haven't heard about this earlier.

It provides a great opportunity to get in the game in case the initial break of the pin doesn't work out.

Also on the EUR/JPY 4hr pin it worked out perfect

Quoting mike w
That's it man....
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  • #53,463
  • Jan 30, 2010 3:24pm Jan 30, 2010 3:24pm
OR
Maybe if it isn't to off - and other's would like to know post here -thanks


I'd like to record a video like James etc. do - and not that I am computer illiterate -I just never have done this.

Is there special software? to capture the 'screen' so to speak?

I've just done this so far - recorded a short blurb via powerpoint - so now i know my laptop has a microphone

But what does it take to for example have your charts open - and record them and sound?

thanks
  • #53,464
  • Jan 30, 2010 3:42pm Jan 30, 2010 3:42pm
I believe James16 and everybody use a program called Camtasia Studio. Just google search for it.

Quoting perch
OR
Maybe if it isn't to off - and other's would like to know post here -thanks


I'd like to record a video like James etc. do - and not that I am computer illiterate -I just never have done this.

Is there special software? to capture the 'screen' so to speak?

I've just done this so far - recorded a short blurb via powerpoint - so now i know my laptop has a microphone

But what does it take to for example have your charts open - and record them and sound?

thanks
skype: ststroud. let's talk trading.
  • #53,465
  • Jan 30, 2010 3:51pm Jan 30, 2010 3:51pm
thanks - I'll try that -
I guess I jumped the gun a little too - - with the question that is - a few minutes of search and there are literally hundreds of choices.
  • #53,466
  • Jan 30, 2010 4:49pm Jan 30, 2010 4:49pm
yes its camtasia and its not hard to figure out which is mandatory for my old brain.

i do mine in wmv and ive found it to work best.

you can produce them in many formats though.

Quoting tyler812
I believe James16 and everybody use a program called Camtasia Studio. Just google search for it.
  • #53,467
  • Jan 30, 2010 6:19pm Jan 30, 2010 6:19pm
Quoting Dan Gilbert
have to wait.... all I know is that I won't catch a full loss on it at this juncture
I was teasing you Dan...
,but open a daily chart on eur/chf and go back to March 10/09. Can you see a pattern?
  • #53,468
  • Jan 30, 2010 7:05pm Jan 30, 2010 7:05pm
Quoting raczekfx
I was teasing you Dan...
,but open a daily chart on eur/chf and go back to March 10/09. Can you see a pattern?
daily EUR/CHF???? I'm lost... As far as a pattern, are you referring to the bullish pinbar that retraced hard before it really came to life (after the BUOB formed right after the pin)??

I tried comparing that date with EUR/CHF to GBP/CHF (the pair I'm short on) and see nothing jumping out at me.

Sorry I'm a newb.....
Many choose unhappiness over uncertainty.
  • #53,469
  • Jan 30, 2010 8:12pm Jan 30, 2010 8:12pm
Quoting Dan Gilbert
daily EUR/CHF???? I'm lost... As far as a pattern, are you referring to the bullish pinbar that retraced hard before it really came to life (after the BUOB formed right after the pin)??

I tried comparing that date with EUR/CHF to GBP/CHF (the pair I'm short on) and see nothing jumping out at me.

Sorry I'm a newb.....
during intervention eur/chf, usd/chf and gbp/chf 'usually' move in tandem.
on march 10 we have similar bar to the one on june 17 and jan 29.
What happened two days after march 10?
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  • #53,470
  • Jan 30, 2010 8:14pm Jan 30, 2010 8:14pm
Quoting raczekfx
during intervention eur/chf, usd/chf and gbp/chf 'usually' move in tandem.
on march 10 we have similar bar to the one on june 17 and jan 29.
What happened two days after march 10?
ehhhhh... time for me to get smoked.....
Many choose unhappiness over uncertainty.
  • #53,471
  • Jan 31, 2010 2:38am Jan 31, 2010 2:38am
Originally Posted by raczekfx
during intervention eur/chf, usd/chf and gbp/chf 'usually' move in tandem.
on march 10 we have similar bar to the one on june 17 and jan 29.
What happened two days after march 10?

Would this not be a good time to place a buy stop order?
I am also still new but from the looks of the posted chart, these really take off!
Jim
Thank you! Jimbo
  • #53,472
  • Jan 31, 2010 3:53am Jan 31, 2010 3:53am
Quoting jimbo67a
Originally Posted by raczekfx
during intervention eur/chf, usd/chf and gbp/chf 'usually' move in tandem.
on march 10 we have similar bar to the one on june 17 and jan 29.
What happened two days after march 10?

Would this not be a good time to place a buy stop order?
I am also still new but from the looks of the posted chart, these really take off!
Jim

I don't think it's a rule.

You'd be gambling if you'll take a position just from 2 observations. And gambling is not the purpose. Maybe more advanced traders will watch for signs, but we'd better stick to PA and confluence.

Or maybe a tight stop loss with minimum %risk, but you'd still be gambling.
  • #53,473
  • Jan 31, 2010 4:09am Jan 31, 2010 4:09am
Quoting raczekfx
during intervention eur/chf, usd/chf and gbp/chf 'usually' move in tandem.
on march 10 we have similar bar to the one on june 17 and jan 29.
What happened two days after march 10?
So are we likely to see the 1.500 line in the sand revisited? Possibly as new resistance?
  • #53,474
  • Jan 31, 2010 4:33am Jan 31, 2010 4:33am
Quoting MattW
So are we likely to see the 1.500 line in the sand revisited? Possibly as new resistance?
By looking at what happened after june 17 and march 10, It's going to fall. The pin in G-CHF is still valid and see how price retraced and came back nicely from Fib and the Round number. Euro is't showing any strength either.
  • #53,475
  • Jan 31, 2010 5:12am Jan 31, 2010 5:12am
Quoting raczekfx
during intervention eur/chf, usd/chf and gbp/chf 'usually' move in tandem.
on march 10 we have similar bar to the one on june 17 and jan 29.
What happened two days after march 10?
March 10, June 17 and Jan 29 - all daily BUOB's. On both previous occassions this has been followed by very large movements 'up' in price a few das later...
  • #53,476
  • Jan 31, 2010 5:16am Jan 31, 2010 5:16am
Quoting neutro
I don't think it's a rule.

You'd be gambling if you'll take a position just from 2 observations. And gambling is not the purpose. Maybe more advanced traders will watch for signs, but we'd better stick to PA and confluence.

Or maybe a tight stop loss with minimum %risk, but you'd still be gambling.
Placing an order based on previous chart patterns is not gambling...it's calculated risk taking.

Placing an order randomly without any 'plan' behind the trade is gambling
  • #53,477
  • Jan 31, 2010 5:21am Jan 31, 2010 5:21am
Interest expectations are already incorporated into price. One should see movement if there are any deviations from expections, so for instance, hike is greater than expected would normally produce AUD/USD strength. Converse would be true if interest rate rise was less than expected

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?
  • #53,478
  • Jan 31, 2010 5:37am Jan 31, 2010 5:37am
Depends on real interest rates really (nominal interest rates less inflation)
Where inflation is high, real commodities such as gold are usually a better store of wealth

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!
  • #53,479
  • Jan 31, 2010 5:48am Jan 31, 2010 5:48am
Yeah that's my read aswell

Quoting nasir.khan
By looking at what happened after june 17 and march 10, It's going to fall. The pin in G-CHF is still valid and see how price retraced and came back nicely from Fib and the Round number. Euro is't showing any strength either.
  • #53,480
  • Jan 31, 2010 5:49am Jan 31, 2010 5:49am
dear Mr James,

but this goes to everybody as well

after weeks reading forex forums trying to understand about the people and the honestly seems this one is the one...

so I give it a try
would like to ask for your advice about

- how to start trading forex from zero
- remember when you were at my zero level?
- hope to have the right path from you experienced people
- am ready "to invest" some money in my training education (max 2000$)

please consider

1. I know nothing
2. I know nothing
3. I know nothing
4. BUT I like the idea of a system to trade as a business and no matter if economy up/down and tv and wallstreetjournal and bla bla, but the only matter is the graph to move...and like the idea about no banks or lobbies could "control" the move (more or less)...

and please remember I know nothing...

many thanks in advance to the ones who would share their experience with me at zero money back, I mean sharing for free years and years of hard work and all is in between...

thank you gentleman
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