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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

  • #57,861
  • Mar 10, 2010 2:55pm Mar 10, 2010 2:55pm
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  • #57,862
  • Mar 10, 2010 2:55pm Mar 10, 2010 2:55pm
Quoting benji533
I love these talking heads, they are something.....they remind me Israeli Taxi drivers - always know everything about anything

Well, most of those mainstream heads yes. But as far as I know, this Hugh Hendry, made millions in autumn of 2008 where everybody was losing. I guess he's making more money himself than all people on this thread combined(Jim included) :-)

I easily pass mainstream heads, which are basically government supported or government supporting "economists". I'm interested in opinions of those who are on the side... Schiff and Hendry being two of them...
So IMO it's really big difference between guys like Hendry or Rogers and guys like Krugman or Stiglitz (Those who're making millions over years and those who are academics, or worse, lost half of money in last 10 years)..

But anyway, not really related to this thread, I just post it b/c those videos offer alternative views...
  • #57,863
  • Mar 10, 2010 2:57pm Mar 10, 2010 2:57pm
Well done, I got in on the 4hr pinbar (Alpari UK feed).

We're at a level with lots of support. My SL is at BE and I hope we clear this level. If not, no worries, it's still a free trade.

Possible daily pin the making. If we get that pin and it breaks, then we can almost certainly have a big smile on our face

Quoting lovejoy80
Yes interest rate decision followed by comments - they will keep rates on hold until mid-year at the earliest.

Caused the 4H NU and NJ BEOB's to activate. I took the NJ one and took profit at the 1st target area.
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  • #57,864
  • Mar 10, 2010 3:20pm Mar 10, 2010 3:20pm
Quoting GotPips
anyone watching the 4h pin developing on usdcad?

(first time posting a chart, hope it works!)
I got it as an 8 hour pin down to make a triple low, the first dating back to October. Divergence, but no other confluence.

Wonder what the masters make of it?

Joelcf - thanks for the reply a few pages back. I will investigate.
  • #57,865
  • Edited 3:42pm Mar 10, 2010 3:30pm | Edited 3:42pm
Quoting michal7
Hey Dan,
I was looking at this setup few minutes ago. I don't trade continuation bars yet so I'm just watching how this will develop. What worries me is the S/R(PPZ) right above (about 15 pips) this outside bar(pink line), which is where your traffic market by green lines begins.
My (beginner) opinion: Might work? Yes. A+? No.

Cheers,
Mikey
Just a follow up... Dan, did you take this trade?
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  • #57,866
  • Mar 10, 2010 3:37pm Mar 10, 2010 3:37pm
Quoting artov
Well done, I got in on the 4hr pinbar (Alpari UK feed).

We're at a level with lots of support. My SL is at BE and I hope we clear this level. If not, no worries, it's still a free trade.

Possible daily pin the making. If we get that pin and it breaks, then we can almost certainly have a big smile on our face
Excellent, I am watching the .7000 mark very closely
  • #57,867
  • Mar 10, 2010 3:39pm Mar 10, 2010 3:39pm
Quoting michal7
Well, most of those mainstream heads yes. But as far as I know, this Hugh Hendry, made millions in autumn of 2008 where everybody was losing. I guess he's making more money himself than all people on this thread combined(Jim included) :-)

I easily pass mainstream heads, which are basically government supported or government supporting "economists". I'm interested in opinions of those who are on the side... Schiff and Hendry being two of them...
So IMO it's really big difference between guys like Hendry or Rogers and guys like Krugman or Stiglitz...
Check this post also: http://www.babypips.com/blogs/curren...ng_the_ca.html

There are statements both ways. But the really good question is: when is there a time when gold is going to fall?
  • #57,868
  • Mar 10, 2010 3:46pm Mar 10, 2010 3:46pm
Quoting bluetrader
Currently long this 2 day pin on AUD/CAD...
Out at BE on AUD/CAD... I might not be picky(yet), but I will not let a winner turn into a loser.

-- Danny
  • #57,869
  • Mar 10, 2010 3:46pm Mar 10, 2010 3:46pm
  •  Bam Fx
  • | Joined Apr 2009 | Status: Using Small Live Account as Demo | 28 Posts
Quoting mbqb11
Excellent, I am watching the .7000 mark very closely

I'm at work and I'm curious when the daily candle closes on your charts? I think Daily FX closes at 5 EST (which is what im looking at).

Thanks a lot for all that you all do.

Short time lurker... (I love it here!!! there is soooo much respect that you don't find many places) Congrats to all!!!!
  • #57,870
  • Mar 10, 2010 3:48pm Mar 10, 2010 3:48pm
Anybody considers this setup? Of course if it will close like this
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  • #57,871
  • Mar 10, 2010 3:52pm Mar 10, 2010 3:52pm
Hey all,

Hope everyone's good and making lots of pips!

Just putting up a weekly chart of EUR / USD for everyone's comments. I like how we have Doji bars being printed consecutively. We also have a BRN at 13,500 which almost perfectly lines up with the 61.8% fib.

Now the next part which is the bit that always gets me thinking. We want to go with the trend right? Well to me the trend is higher highs and higher lows in a bull market. Am I right in thinking that the higher low in this instance which would need to be breached to indicate a trend reversal is 13,000? I make it this point as this is when we had the swing low in the March to Nov uptrend.

The negatives are that price has crossed the MA's and PA seems very indecisive. We also don't have an ascending trendline.

Having said that I'd like to be able to get in around 15,000 for a potential small risk / high reward entry.

Thanks!

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  • #57,872
  • Mar 10, 2010 3:52pm Mar 10, 2010 3:52pm
Quoting Bam Fx
I'm at work and I'm curious when the daily candle closes on your charts? I think Daily FX closes at 5 (which is what im looking at).

Thanks a lot for all that you all do.

Short time lurker... (I love it here!!! there is soooo much respect that you don't find many places) Congrats to all!!!!
Heya Bam

Yes I use a 5pm est daily close personally. It is the fxpro feed

Best
Mike
  • #57,873
  • Mar 10, 2010 3:56pm Mar 10, 2010 3:56pm
  •  Bam Fx
  • | Joined Apr 2009 | Status: Using Small Live Account as Demo | 28 Posts
Quoting mbqb11
Heya Bam

Yes I use a 5pm est daily close personally. It is the fxpro feed

Best
Mike

Great, Thanks a lot!
  • #57,874
  • Mar 10, 2010 4:29pm Mar 10, 2010 4:29pm
Quoting Nawry
Anybody considers this setup? Of course if it will close like this
Hey,

Got a pending on that one, spread is high but we got like 60-70 pips to first trouble area.
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  • #57,875
  • Mar 10, 2010 4:36pm Mar 10, 2010 4:36pm
this est,cet pmt is so confusing for me!! my dailys have jus closed on fxpro, so is it 5pm est now???

cheers in advance as im off to bed.

jon
PATIENCE... DISCIPLINE
  • #57,876
  • Mar 10, 2010 4:41pm Mar 10, 2010 4:41pm
Quoting GotPips
to be honest, i was just wanted confirmation that im understanding the principles. there is a lot of traffic above it.

however, im interested by what you say, dhb. i see a clear support line and it doesnt seem to be breaking, doesnt that contradict what you've just said? Or do you mean shorts at a higher level with the aim of hitting said support line?
GotPips,

You're right, there is obvious support. For now. If you look at the colorful chart I've included, you'll probably recognize we're currently in a situation not quite unlike 1.5 years ago. Back then, the level that is now acting as support was holding as resistance for a few times. But it eventually broke. Look closely at what is happening now with usdcad. What do you think might happen?

B.

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It's not about how much you make, it's about how much you don't lose.
  • #57,877
  • Mar 10, 2010 4:43pm Mar 10, 2010 4:43pm
Quoting Dhb
GotPips,

You're right, there is obvious support. For now. If you look at the colorful chart I've included, you'll probably recognize we're currently in a situation not quite unlike 1.5 years ago. Back then, the level that is now acting as support was holding as resistance for a few times. But it eventually broke. Look closely at what is happening now with usdcad. What do you think might happen?

B.

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Nice post, great analysis.
  • #57,878
  • Mar 10, 2010 4:47pm Mar 10, 2010 4:47pm
Quoting joelcf
Larry Williams' old book does the same thing with coins and temperatures.

The temperature graph on p13 has some killer setups. I'd so be compounding a huge % of degrees celsius on it.

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Jeeze dude - that is hilarious. (I need to get out here more often)

Thanks for dropping it in. I don't know if anyone is aware - but you CAN trade the weather....
I'm pretty much done with all this ...
  • #57,879
  • Mar 10, 2010 4:55pm Mar 10, 2010 4:55pm
Quoting Dhb
GotPips,

You're right, there is obvious support. For now. If you look at the colorful chart I've included, you'll probably recognize we're currently in a situation not quite unlike 1.5 years ago. Back then, the level that is now acting as support was holding as resistance for a few times. But it eventually broke. Look closely at what is happening now with usdcad. What do you think might happen?

B.

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Dhb, great analysis - thanks for that.
note to self - look at the bigger picture.
  • #57,880
  • Mar 10, 2010 4:58pm Mar 10, 2010 4:58pm
Quote
I am also not suited to the longer timeframes (personality), but do plan to demo trade intraday until I am profitable, even if it takes years.

Hey Chatzi - I know you were asking Ryan, but how do you know that you are not suited for it? I'd say it would take a lot more work before you'd figure this kind of thing out. IMO, you really need to experience both sides of the coin.

You never know what suits you till you actually do it.
I'm pretty much done with all this ...
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