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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

  • #58,041
  • Mar 12, 2010 1:40am Mar 12, 2010 1:40am
Quote
People know to get their emails in by thursday HAHA
Mike,
is that the underlying trend (pun intended)?

impressive Sir..
  • #58,042
  • Mar 12, 2010 1:50am Mar 12, 2010 1:50am
Quoting mbqb11
Gonna have a little springboard from your post cherry, just directed in general...
Forgive me, but what does CT stand for?
  • #58,043
  • Mar 12, 2010 1:57am Mar 12, 2010 1:57am
Quoting dario3025
Forgive me, but what does CT stand for?
counter trend

Mike
  • #58,044
  • Mar 12, 2010 2:06am Mar 12, 2010 2:06am
Quoting Dan Gilbert
Here's my theory as to why!!
Hey Dan,

I appreciate all your contributions to the thread, thank you. I had a couple thoughts about your theory, so just wanted to present a couple viewpoints.

I think that two day pins are for a longer time-frame, than one day pins, and typically longer time frame moves trump shorter time-frame moves.

However, I wonder if they are stronger, because if you think about it, a two day pin typically closes above a ppz, then comes back. A one day bar can't even close above (these examples are for a short) the ppz, so to me that shows more strength.

I know these are opposing viewpoints, just things to consider.

How many observations is this based on? It is important to be careful and not get biases from just a few recent observations, for example if you gave up normal pin bars and only traded two-day bars because of just 2 or 3 losses, that could be many great opportunities you are missing out on in the long run.

Anyway, I trade both bars, and I think they are both strong reversal indications in the right location, just thought it would be fun to theorize with you .

Thanks again and have a good one.

Cory
  • #58,045
  • Mar 12, 2010 2:09am Mar 12, 2010 2:09am
Quoting mbqb11
Gonna have a little springboard from your post cherry, just directed in general

mini rant on this CT vs trend stuff lately.

I think this discussion about trend vs CT is a bit misguided IMO. You can trade both ways and anyway if you are doing it right.


You guys rule b/c you let me rant it out
Mike
Cheers Mike, that sounds like James and what I've seen on the videos.

Just got confused when I read all the bits about trend on here. Really it is the last thing to consider as you say not the first.

I'll stick to working on perfecting the other basics!

Have a great week-end everyone and thanks for all replies!

Cherry

PS Is this thread having problems or is it my computer? It's suddenly not showing the all the smilies and charts??
  • #58,046
  • Mar 12, 2010 2:45am Mar 12, 2010 2:45am
Quoting mbqb11
Hey S

I lay in one camp with this only. I think that learning to become picky is really hard when you watch only a handful of pairs. You could go months without finding anything good while on a bunch of others were stand out trades. I believe we should watch as much as you can get your hands on and this will help you stick to becoming as picky as possible. Of course as you go you learn some basic things that are helpful about certain pairs(but nothing that can't be gleaned from the chart itself). So I personally recommend (as does James) watching...
Thank you so much Mike again for your reply.
I'll learn to watch more pairs and be more picky for the better setups!
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,047
  • Mar 12, 2010 3:08am Mar 12, 2010 3:08am
Quoting joelcf
Lesson for the day: Put your order 1 or 2 pips under your target, genius.

Attachment

been there ...done that...


jon
PATIENCE... DISCIPLINE
  • #58,048
  • Mar 12, 2010 3:15am Mar 12, 2010 3:15am
Quoting jarroo
Hey Ryan, I think your on to something with this "with the trend" strategy.
yep i stand well warned on this one!!!,how did you do on this Jarroo?? did you go short??
im short on the break of the pin on my demo, gonna let it run. trying to get used to holding much MUCH longer than i am doin with my real account.
bty its amazing how you DO ge used to it, a week is nothing for me now!! lol

lol


Quote
Gonna have a little springboard from your post cherry, just directed in general...

Thanx for this one Mike, nobody puts thing down like you do!
well off to my real job
cheers

jon
PATIENCE... DISCIPLINE
  • #58,049
  • Mar 12, 2010 3:36am Mar 12, 2010 3:36am
this will be the best setup of recent times for me if it closes above the BRN???
shame im at work for when it closes (2 h) divergence from all time lows at least on my feeds, big ass bar. i like the bars previous also,faily classic. a little momentum building for the next assault?


jon
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PATIENCE... DISCIPLINE
  • #58,050
  • Mar 12, 2010 4:00am Mar 12, 2010 4:00am
Quoting raczekfx
I filter the noise, trade more talk less, ... and when I do, I save it mostly for the PF.
That reason alone is a good one for joining PF. One can learn a lot from Raczek.
One Chart is Worth Ten Thousand Words.
  • #58,051
  • Mar 12, 2010 4:07am Mar 12, 2010 4:07am
Concerning the discussion on the NZD/JPY and NZD/USD I noticed a few things that might be worth considering and I don't see mentioned.
1. They basically are" tied at the hip" so one of them hitting a PPZ usually affects the other but this varies on who is leading.
2. If you look at a different feed for these pairs (try MBT )or anyone that closes on eastern time. I don't believe we have viable pin bars.

Not disagreeing with anybody just trying to contribute to the most information packed and friendliest thread I have ever come across.
  • #58,052
  • Mar 12, 2010 4:12am Mar 12, 2010 4:12am
Quoting nasir.khan
W = UP Trend.
Well, that depends on the time horizon...

One could say that is a huge Bull flag; but then we have false BFs too.
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One Chart is Worth Ten Thousand Words.
  • #58,053
  • Mar 12, 2010 4:50am Mar 12, 2010 4:50am
Quoting Cherry
This is the NZDUSD daily... and there have been 4 UP bars in an otherwise longer term down trend since last Oct.

I don't understand how come you consider the trend is up?

Can you or someone please explain what I am missing here as i would have considered this a 'with the trend' trade! ( Also price is below Ryan's MA for trend direction!)

Confused....

Thanks,
Cherry
It's very simple. No need to over complicate things.

Quoting joelcf
Pull up a daily chart, zoom right out, and if price starts at the top left and finishes at the bottom right, its a downtrend.
Yep. As simple as that. And couldn't be more simpler.

**
Another way to look at it is, after zooming out, just pay attention to the the highs and lows. Notice price advancing upwards? It's making higher lows.

Also we can use fib levels to confirm change in trends. Take a look at this post for instance. Here the overall trend is down, but If price breaks 100 fib level I'd say the trend has changed.
  • #58,054
  • Mar 12, 2010 4:53am Mar 12, 2010 4:53am
Quoting Forex007
Well, that depends on the time horizon...

One could say that is a huge Bull flag; but then we have false BFs too.
Can't say about the Flags but this is interesting. (nice SHS in 4h)
.
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  • #58,055
  • Mar 12, 2010 5:18am Mar 12, 2010 5:18am
BEOB,

Retrace to a little PPZ.
.
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  • #58,056
  • Mar 12, 2010 5:18am Mar 12, 2010 5:18am
Anyone eying the 3800 mark?
  • #58,057
  • Edited 5:40am Mar 12, 2010 5:26am | Edited 5:40am
I'd say keeping a close watch on USD/CAD as it might break 1.02 level (triggering sell stops including mine) upon news release which should be also good for my NZD/CAD short as well.

For euro I think 1.4 might be a better place for you.
  • #58,058
  • Mar 12, 2010 6:04am Mar 12, 2010 6:04am
There you go... The loonie makes a new two year low..
  • #58,059
  • Mar 12, 2010 6:13am Mar 12, 2010 6:13am
Quoting wh1zz0
There you go... The loonie makes a new two year low..
I like to see a PIN now.
.
  • #58,060
  • Mar 12, 2010 6:18am Mar 12, 2010 6:18am
This one is no longer on my watch list. 1.0018 maybe?

K.I.S.S.
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