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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

  • #58,941
  • Mar 23, 2010 6:04pm Mar 23, 2010 6:04pm
anyone else notice this dbhlc on the eur/chf daily is this a good setup for a short?

damien
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i pull the trigger when others are fearful---me
  • #58,942
  • Mar 23, 2010 6:13pm Mar 23, 2010 6:13pm
Quoting damosdmf
anyone else notice this dbhlc on the eur/chf daily is this a good setup for a short?

damien
Hey Damien

We really want to see that at a swing high traditionally as per james. This is a very deep swing low, the trend is heavy down which might carry this ahead, but often shorting into this new low can be very tricky if not under the right conditions. I would stick to that bar a swing high first before continuations.

Hope that helps
Mike
  • #58,943
  • Mar 23, 2010 6:21pm Mar 23, 2010 6:21pm
thanks mike yeah just checking new to this whole forex thing and still at page 150 of this thread. but have learned alot from it so far.

damien
i pull the trigger when others are fearful---me
  • #58,944
  • Mar 23, 2010 7:43pm Mar 23, 2010 7:43pm
Quoting KissFan
Haha! Seriously though I think now that I look at it I think that it is a legit pattern called a cup and handle. I still don't know how to trade it though. I'm going to check into it and come back later to look at it and see if it works out the way it is supposed to.

K.I.S.S.
LOL KISS, you had me thinking to myself for few seconds wondering if I have really missed learning this "snail" pattern during my forex study...I even tried to figure out how this pattern looks like a snail in any way.......
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,945
  • Mar 23, 2010 8:52pm Mar 23, 2010 8:52pm
Hey everyone,

I've been trading intraday for a while now using EO's method in the "Trade What You See, Not What You Expect" thread under Trading Journals (awesome thread for anyone wanting a wicked intraday strategy.) Recently due to work I've been only able to trade higher time frames so I've been lurking in the shadows of this great thread reading everyones thoughts and advice. One thing I cannot find the answer to is this:

Is there a best time for a daily candle to open and close? I know its different between different brokers, but daily candles are all different depending on the close time.. I've heard that 5pm EST is sort of a standard and what the "big boys" watch.. Any thoughts?

Thanks and I look forward to learning more from the traders in this thread!

Cheers
Cap
  • #58,946
  • Mar 23, 2010 8:56pm Mar 23, 2010 8:56pm
Quoting The Captain
Hey everyone,

I've been trading intraday for a while now using EO's method in the "Trade What You See, Not What You Expect" thread under Trading Journals (awesome thread for anyone wanting a wicked intraday strategy.)...
Hey Cpt.

I am in agreement with the 5pm est. In my opinion it is sort of the unofficial official closing time. Considering NY is all done by now in the other markets. Again if you use a 6pm or even 7 I don't think your going to really lose much in the long run once you understand the material since the bars are only a smaller piece of the puzzle. I think anything past a few hours after NY is fishy as you get asia/Australia etc mixed in and those are the smaller periods of the trading day

Best
Mike
  • #58,947
  • Mar 23, 2010 9:01pm Mar 23, 2010 9:01pm
Quoting damosdmf
thanks mike yeah just checking new to this whole forex thing and still at page 150 of this thread. but have learned alot from it so far.

damien
glad to hear that so far Damien
  • #58,948
  • Mar 23, 2010 9:29pm Mar 23, 2010 9:29pm
Quoting The Captain
Hey everyone,

I've been trading intraday for a while now using EO's method in the "Trade What You See, Not What You Expect" thread under Trading Journals (awesome thread for anyone wanting a wicked intraday strategy.) Recently due to work I've been only able to trade higher time frames so I've been lurking in the shadows of this great thread reading everyones thoughts and advice. One thing I cannot find the answer to is this:

Is there a best time for a daily candle to open and close? I know its different between different brokers, but daily...
Hi Captain,

Sorry that I don't know much about the closing time stuff, I think Mike has already answered your question very well below.

Allow me to jump in and ask, how do u view the EO methods? I also happened to have learned the EO methods, however, I didn't have much luck understanding/applying the methods....that was before I have read this James16 PA stuff.....I saw many people are having success with it, so how do you think about the EO's methods?
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,949
  • Mar 23, 2010 11:49pm Mar 23, 2010 11:49pm
Quoting s005606
LOL KISS, you had me thinking to myself for few seconds wondering if I have really missed learning this "snail" pattern during my forex study...I even tried to figure out how this pattern looks like a snail in any way.......
I think this...
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Many choose unhappiness over uncertainty.
  • #58,950
  • Mar 23, 2010 11:53pm Mar 23, 2010 11:53pm
Quoting Dan Gilbert
I think this...
manually drawn, nice. did you respect the proportions on the shell, as in the video posted? )
  • #58,951
  • Mar 23, 2010 11:55pm Mar 23, 2010 11:55pm
Quoting Dan Gilbert
I think this...

hahah oh geez and I thought I needed more sleep
  • #58,952
  • Mar 24, 2010 12:06am Mar 24, 2010 12:06am
Quoting Dan Gilbert
I think this...
Oh Dan......now it totally fits!
By the way, nice drawing.....gave me a big smile in front of computer.
Dreams are hard to follow, but don't let anyone, tear them away...
  • #58,953
  • Mar 24, 2010 12:11am Mar 24, 2010 12:11am
Quoting Dan Gilbert
I think this...
haha this made my day
  • #58,954
  • Mar 24, 2010 12:18am Mar 24, 2010 12:18am
Quoting Dan Gilbert
I think this...
can snails smile just like that?
u sure got a lot of talent, Dan
  • #58,955
  • Edited 3:19am Mar 24, 2010 12:26am | Edited 3:19am
Oh, don't tell me you guys never traded the old slow snail formation. It's easy just short the touch of the left tentacle...

Reminds me of this http://www.forexfactory.com/showthread.php?t=26188 my first ever post on FF.
Gone to a better place
  • #58,956
  • Mar 24, 2010 12:48am Mar 24, 2010 12:48am
Hi all,

Any comments on this PB? Wat i observe is this PB is at the PPZ area, but not much free space (pls correct me if I'm wrong). Price seem to be consolidating at PPZ in H4 TF (pls correct me in this part too). So wait for PA in H4 to confirm entry.

Thank you.
skin
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  • #58,957
  • Mar 24, 2010 1:24am Mar 24, 2010 1:24am
Quoting skinfx
Hi all,
Any comments on this PB?...
Hello skin,
yes, not much space/in-traffic.

are u referring to the green pb or the red pb? (2nd & 3rd candle on the extreme right)
both are small compared to surrounding candles.. red pb is much smaller.
too small to convince me to take a long here.
137.00 minor ppz possible immediate traffic area if price does go up.

hope this helps
  • #58,958
  • Mar 24, 2010 1:40am Mar 24, 2010 1:40am
Quoting supremeChaos
Hello skin,
yes, not much space/in-traffic.

are u referring to the green pb or the red pb? (2nd & 3rd candle on the extreme right)
both are small compared to surrounding candles.. red pb is much smaller.
too small to convince me to take a long here.
137.00 minor ppz possible immediate traffic area if price does go up.

hope this helps

Hi chaos,

Thank you for your ans. I am refering to the green PB. But i not quite understand wat u mean by "in-traffice" do u mean the uptrend is not nicely form? Sorry still learning...

thanks,
skin
  • #58,959
  • Mar 24, 2010 1:56am Mar 24, 2010 1:56am
Hello skin,
in traffic = has (possible) obstacles [just another way of saying there is 'no space']
kindly look to the left of the pb (the area u marked as a PPZ with a green rectangle). u will see the pb is surrounded by price at, below, above 135.50.

by the way, that green pb has already broken (see the smaller red "pb") to the upside. so it's possible that PB has already expired (think of expired food) & (to some extent) may have already used up its energy/upward momentum (if it has any).
dont forget, we try to take a trade of a pb (or any PA setup) right on the next candle. in your chart, there are already 2 candles formed after the small green PB.
just look for another potential trade
  • #58,960
  • Mar 24, 2010 2:06am Mar 24, 2010 2:06am
Quoting supremeChaos
Hello skin,
in traffic = has (possible) obstacles [just another way of saying there is 'no space']
kindly look to the left of the pb (the area u marked as a PPZ with a green rectangle). u will see the pb is surrounded by price at, below, above 135.50.

by the way, that green pb has already broken (see the smaller red "pb") to the upside. so it's possible that PB has already expired (think of expired food) & (to some extent) may have already used up its energy/upward momentum (if it has any).
dont forget, we try to take a trade of a pb (or any...
thanks alot....
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