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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

  • #57,501
  • Mar 7, 2010 10:18pm Mar 7, 2010 10:18pm
Quoting Dan Gilbert
I hate to say it, but I think this thread has had A LOT of traders read it, but refused to follow the rules and vanished....
you don't need to hate it Dan,

It's how it is meant to be. If they refuse to move a step towards success to come closer to it...they're probably better off without it.

g.
I believe . . .
  • #57,502
  • Mar 7, 2010 10:52pm Mar 7, 2010 10:52pm
Quoting Ryanmcd
Everyone needs to watch this...


http://www.4shared.com/file/96740657...er_Market.html
quoted so others can enjoy if they skipped it the first time. great video.
Many choose unhappiness over uncertainty.
  • #57,503
  • Mar 8, 2010 12:28am Mar 8, 2010 12:28am
Quoting raczekfx
Lol…That’s where dragon naturally speaking technology comes to play…


and when you follow Jim long enough, especially watching (several times) videos he placed in the pf, it all falls into place 'naturally'. You can do it even with your 'ears' closed…, most of the time.
Ok, enough of wizdom for next week... got a run, enjoy the weather.
That's true Mark. Somehow, those videos make something click in the head. Your comments much so too.

Running here is like taking a swim. 95% humidity and 32 deg Celsius indoors... geez its warm.
One Mind, Any Market
  • #57,504
  • Mar 8, 2010 12:29am Mar 8, 2010 12:29am
I haven't got divergence, what MACD settings are you using?
Mine (12,26,9)

Quoting lawgirl21
Divergence on RSI(3) and MACD. BUOB low around big number1.5000.
  • #57,505
  • Mar 8, 2010 12:47am Mar 8, 2010 12:47am
Quoting Ryanmcd
Everyone needs to watch this...


http://www.4shared.com/file/96740657...er_Market.html
Thanks for posting this Ryan,

I agree EVERYONE should watch this, excellent video!!!!!

I'd be surprised if you didn't get something of value out of it!!!!

Dave.
  • #57,506
  • Mar 8, 2010 1:20am Mar 8, 2010 1:20am
Just remember when you take a CT Trade Ryanmcd, myself and all other Big Boys/Dogs will be on the other side, Ryanmcd 80% and me, 60% of the time........coz of inexperience..........

Keep taking the CTs all...........

Quoting Ryanmcd
Also after reading the past few pages now I see why I make money every week. Just remember when you take a CT trade I am going to be on the other side 80% of the time, as well as the banks, hedge funds, and other big players.....
  • #57,507
  • Mar 8, 2010 1:30am Mar 8, 2010 1:30am
Quoting jarroo
Good, just checking.

Weekly PB is also at fib retracement level. The size could be bigger. . .let's see how she breaks, (if she breaks).
Hi

Rating on GBP/USD weekly = B+? Bigish pin,BRN,Fib, BUOB (on daily) minus CT, not higher close, no divergence? (someone mentioned divergence - can't see it) = B+?

Thanks

Jeremy
  • #57,508
  • Mar 8, 2010 1:41am Mar 8, 2010 1:41am
Quoting jspeakman
Hi

Rating on GBP/USD weekly = B+? Bigish pin,BRN,Fib, BUOB (on daily) minus CT, not higher close, no divergence? (someone mentioned divergence - can't see it) = B+?

Thanks

Jeremy
Yes, the structure and size are not good on the weekly PB. A hard break above through the 1.5200 would be a good confirmation for me.

I'm in on the break of the Daily BUOB at 1.5175. Let's see if she runs.
Indicators show the past. Price Action "Indicates" the future.
  • #57,509
  • Mar 8, 2010 2:00am Mar 8, 2010 2:00am
Quoting jarroo
Yes, the structure and size are not good on the weekly PB. A hard break above through the 1.5200 would be a good confirmation for me.

I'm in on the break of the Daily BUOB at 1.5175. Let's see if she runs.
No wonder I am not a successful trader......to me the PB looks great, big enough, 61 fib, PPZ......look like its back to the beginning of thread to me and strat re-reading lol.
What you do is a reflection of you....what I do is a reflection of me.
  • #57,510
  • Mar 8, 2010 2:05am Mar 8, 2010 2:05am
Quoting jarroo
Yes, the structure and size are not good on the weekly PB. A hard break above through the 1.5200 would be a good confirmation for me.

I'm in on the break of the Daily BUOB at 1.5175. Let's see if she runs.
I am wondering about CAD/CHF (having been stung once) mainly on basis of BRN at top of channel - retrace to 1.0340

(good BRN+pin+lower close + divergence) - (small pin + CT) = B-

Thanks

Jeremy
  • #57,511
  • Edited 3:43am Mar 8, 2010 2:14am | Edited 3:43am
Quoting Ezzy
No wonder I am not a successful trader......to me the PB looks great, big enough, 61 fib, PPZ......look like its back to the beginning of thread to me and strat re-reading lol.

It hasn't broke yet. So an order above the 1.5202 would be the trade. It could work out just fine.

Counter trend trades can be very tough it you are not very very picky on every aspect of a CT PA setup. Strict Size, structure, location and confluences have to be met. If they're not, you pass and see what the other pairs are doing.

I tend to trade these sub-pair trade very tightly and with a smaller risk.
Indicators show the past. Price Action "Indicates" the future.
  • #57,512
  • Mar 8, 2010 2:17am Mar 8, 2010 2:17am
Quoting jspeakman
I am wondering about CAD/CHF (having been stung once) mainly on basis of BRN at top of channel - retrace to 1.0340

(good BRN+pin+lower close + divergence) - (small pin + CT) = B-

Thanks

Jeremy
Yeah. I would agree with that . . . B- . . . Pass on this one.
Indicators show the past. Price Action "Indicates" the future.
  • #57,513
  • Mar 8, 2010 2:33am Mar 8, 2010 2:33am
Quoting jarroo
Yes, the structure and size are not good on the weekly PB. A hard break above through the 1.5200 would be a good confirmation for me.

I'm in on the break of the Daily BUOB at 1.5175. Let's see if she runs.
Hey Jaroo,

Could you tell us on the wkly GBPUSD, what is it about the structure and size that is not to your liking? I really would like to see what you are seeing that I am not. To me, there is space and pb's nose is good as well. Understand it is a CT though.........

CY
  • #57,514
  • Mar 8, 2010 2:35am Mar 8, 2010 2:35am
Quoting jarroo
Yeah. I would agree with that . . . B- . . . Pass on this one.
Really appreciate feedback - starting I think to get the hang of confluence weighting.

I guess what a lot of us struggle with is not so much identifying potential PA setups but what weight to give to various confluence factors e.g CT versus Divergence etc. Having all line up seems rarer than dragon's teeth.

Would be good to establish some form of confluence weighting index (may be someone has done this!). Largely down to experience I know but there seems to be a general concensus on the importance of such factors as CT BRNs PPZ whilst others e.g. divergence/trend lines etc being useful secondary confirmation sources (but not critical?).

Once clear on this, trading could/should become almost mechanical. Trading should be interesting (intellectually), sometimes boring but never exciting in my book - you are on a loser if you do it just for the buzz I feel.

Forgive my ramblings as usual

Jeremy
  • #57,515
  • Edited 4:08am Mar 8, 2010 2:40am | Edited 4:08am
Quoting ertorque
Hey Jaroo,

Could you tell us on the wkly GBPUSD, what is it about the structure and size that is not to your liking? I really would like to see what you are seeing that I am not. To me, there is space and pb's nose is good as well. Understand it is a CT though.........

CY
The the size is not bad, meaning its about the same size as the previous bars but I would like to see the PB much much bigger then the previous bars on such a strong move down.

Stucture wise, the Close is lower then the Open of the PB. We like those on Bearish PB (in blue). This is a Bullish PB, we want the Close higher then the Open of the PB. It usually is not a trade breaker for me but on a CT trade it becomes very important.
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Indicators show the past. Price Action "Indicates" the future.
  • #57,516
  • Mar 8, 2010 2:52am Mar 8, 2010 2:52am
Although I have made some comments about it,and you know where I stand,just want to say that is fine that someone else have different opinion thats the beauty of the market. Whenever I skip a trade I find that someone else have made a big deal from it.And this can be apply vice versa I can take a good setup when no one else found it attractive.

all the best!!
  • #57,517
  • Edited 3:10am Mar 8, 2010 2:56am | Edited 3:10am
Quoting jspeakman
Really appreciate feedback - starting I think to get the hang of confluence weighting.

I guess what a lot of us struggle with is not so much identifying potential PA setups but what weight to give to various confluence factors e.g CT versus Divergence etc. Having all line up seems rarer than dragon's teeth.

Would be good to establish some form of confluence weighting index (may be someone has done this!). Largely down to experience I know but there seems to be a general concensus on the importance of such factors as CT BRNs PPZ whilst others...
Qualifying confluence weight index . . .I can hear Ryanmcd yelling at his computer screen . . . with the trend would be an important factor in this weight index. lol

With the immediate or short term trend, meaning at a 50% ret or fib ret. Retracement levels are good because they are usualy at a swing point which provides good space, i.e. less traffic.

Many of my successful "soso", tightly managed PA setups were with the trend. (Ryan: "Duh") Much of the criteria for a high quality PA setup can be less strict when their with the trend. But don't get me wrong, keeping the strict PA criteria with the trend can be that much more powerful.
Indicators show the past. Price Action "Indicates" the future.
  • #57,518
  • Mar 8, 2010 2:59am Mar 8, 2010 2:59am
anticipating a break higher of the weekly PB.

Is a pre-empt,based on PB retracement

lets see in the next hours how she will play,

watch the break-"A high probability setup is a high momentum setup"

all the best!

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  • #57,519
  • Mar 8, 2010 3:02am Mar 8, 2010 3:02am
Quoting triger88990
anticipating a break higher of the weekly PB.

Is a pre-empt,based on PB retracement

lets see in the next hours how she will play,

watch the break-"A high probability setup is a high momentum setup"

all the best!
Nicely illustrated, triger. The power of "with the trend".
Indicators show the past. Price Action "Indicates" the future.
  • #57,520
  • Mar 8, 2010 3:10am Mar 8, 2010 3:10am
Quoting jarroo
The the size is not bad, meaning it about the same size as the previous bars but I would like to see the PB much much bigger then the previous bars on such a strong move down.

Stucture wise, the Close is lower then the Open of the PB. We like those on Bearish PB (in blue). This is a Bullish PB, we want the Close higher then the Open of the PB. It usually is not a trade breaker for me but on a CT trade it becomes very important.
Thanks Jaroo for the explanation. Appreciate the posts all you senior guys make.
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