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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

  • #59,601
  • Mar 30, 2010 9:10pm Mar 30, 2010 9:10pm
Quoting skinfx
BEOB setup on Daily
set sell stop (1.3376) at 10pip below small PPZ. (Demo)

Any comments welcome.... thanks....

Looks like the old support area around 1.35 that broke last week has been tested and the sell off of the Euro is on again.

If you wish to know the road, inquire of those who have traveled it.
  • #59,602
  • Mar 30, 2010 10:24pm Mar 30, 2010 10:24pm
Quoting joelcf
...
Good luck getting meaningful capital without working for it.
yes, it's damn hard to trade without enough capital.
the psychological roadblock/s & pressure/s are unprecedented, in my experience.

Quoting bundyraider
If they only sent out resumes then that's their own fault... Our family runs a business...
....
when all else fails, & i happen to be in Aussie land, i'll make sure to walk in the door... & make use of 'what i know & who'

Quoting Dan Gilbert
I don't even know one person who has started at 70k (midwest region)... in any field... More recently college grads have been getting jobs at starbucks after graduation just because the 100+resumes they sent out didn't even get a phone call...
i thought this thing does not happen in the US.
so most of the world's countries are even now, employment-wise.

Quoting joelcf
I went to new york for a week - you cant go eight steps without seeing a SBUX there ...
EIGHT steps?
coffee, anyone?
  • #59,603
  • Mar 30, 2010 10:29pm Mar 30, 2010 10:29pm
Quoting supremeChaos
i thought this thing does not happen in the US.
so most of the world's countries are even now, employment-wise.
some of my friends have been offering themselves up to work for free for a few months so the next time they try to apply for a job, they can include a bit of "experience" on their resume..... Pretty sad.

but yeah, depending on the field, it can get pretty rough. I guess that's what happens in 10%+ unemployment lol
Many choose unhappiness over uncertainty.
  • #59,604
  • Mar 30, 2010 10:57pm Mar 30, 2010 10:57pm
Quoting jarroo
7,002 posts . . . . WTF.
Great job! Thanks for your contributions Sir

meanwhile, about 400 posts more & this thread explodes to 4000 (default) pages & 60,000 posts
  • #59,605
  • Mar 30, 2010 11:09pm Mar 30, 2010 11:09pm
Hi all,

This is my first post in this thread although I've been reading the JDuester summary posts (all a few times now) and am currently up to page 45 of the main thread. I've been demoing this method for about 3 weeks now and just starting to get the hang of it - and loving it I hope it's not too soon to post an opinion on a setup I've seen that I notice is also being discussed here.

Here goes - I took the daily outside bar on EURUSD as well, however I just looked at the weekly chart and notice last week's candle looks like a pin bar. Would this invalidate the short trade on the daily?



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Anything can happen.
  • #59,606
  • Mar 30, 2010 11:09pm Mar 30, 2010 11:09pm
Anyone looking at the jpy pairs. The EURJPY had a PB form yesterday with what looks to be a triple top. Then go down to the 4hr chart and it looks to be forming a pb there. Is this a good train to get on? Also the USDJPY 4H looks to be forming an excellent PB as well. I wonder if the next hour will hold?

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  • #59,607
  • Mar 30, 2010 11:12pm Mar 30, 2010 11:12pm
Quoting ddinnov
Hi all,

This is my first post in this thread although I've been reading the JDuester summary posts (all a few times now) and am currently up to page 45 of the main thread. I've been demoing this method for about 3 weeks now and just starting to get the hang of it - and loving it I hope it's not too soon to post an opinion on a setup I've seen that I notice is also being discussed here.

Here goes - I took the daily outside bar on EURUSD as well, however I just looked at the weekly chart and notice last week's candle looks like a pin bar. Would...

Hey DD

That bar is not a pinbar. Remember the open and close needs to be within the prior bar. And we want to insure that the nose of the bar is much longer then the body of the bar thus protruding away.

Welcome to the thread
Mike
  • #59,608
  • Mar 30, 2010 11:13pm Mar 30, 2010 11:13pm
Please comment on my EUR/JPY trade. The pin is marginal, but the location: 38 FIb number, 365MA, round number 125.00, strong previous resistance, divergence. First trouble area 124.73, second 124.42
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  • #59,609
  • Mar 30, 2010 11:13pm Mar 30, 2010 11:13pm
question for all the old timers....

is there such a thing as a 2 day bullishbearish outside bar?
  • #59,610
  • Mar 30, 2010 11:15pm Mar 30, 2010 11:15pm
Quoting Bollocks
question for all the old timers....

is there such a thing as a 2 day bullishbearish outside bar?
Hey Bollocks

By the nature of the outside bar it must engulf the previous bar so it is a 2 bar reversal pattern. But if you technically make your chart into a 2 day chart, then you would simply be looking for the same 2 bar pattern now on the 2 day chart. Thus you would need 4 days of bars to accomplish the 2day , 2 bar pattern

I know I prob made that sound like a riddle

Mike
  • #59,611
  • Mar 30, 2010 11:19pm Mar 30, 2010 11:19pm
Quoting Ghettobuddha
Anybody in this one?

4hr pin off the 140 BRN.
Bounce off the 365 EMA
Downward Divergence
Strange... I was looking at this trade too, but my 365 EMA is under the candle. Does anyone know why?
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  • #59,612
  • Mar 30, 2010 11:21pm Mar 30, 2010 11:21pm
nope, makes perfect sense.. just wanted some confirmation on that...

by the way Mike... have you taken any setups off the dailies lately... been a bit dry.. i am thinking of demoing 4 hour for few months although i prefer the dailies. sitting on your hands while you trying to grow an account isnt at all easy
  • #59,613
  • Mar 30, 2010 11:28pm Mar 30, 2010 11:28pm
Quoting Bollocks
nope, makes perfect sense.. just wanted some confirmation on that...

by the way Mike... have you taken any setups off the dailies lately... been a bit dry.. i am thinking of demoing 4 hour for few months although i prefer the dailies. sitting on your hands while you trying to grow an account isnt at all easy

my bread and butter is definitely the 1hr and 4hr, and I am even more strict on the daily and weeklies. So haven't had many there. I believe 2 daily trades all year so far.

Best
Mike
  • #59,614
  • Mar 30, 2010 11:46pm Mar 30, 2010 11:46pm
Quoting ira
Strange... I was looking at this trade too, but my 365 EMA is under the candle. Does anyone know why?
You are using different brokers.
When you have to shoot, shoot. Dont talk.
  • #59,615
  • Mar 30, 2010 11:47pm Mar 30, 2010 11:47pm
Mine were stuff like multiply 36 by 78 which I could do farily quickly, but when it got to the hundreds and thousands, I was taking far too long (she wanted me to answer in around 10 seconds) .... I believe this was for a floor trader position however.

Tell me though, is this capability really that important?

[quote=joelcf;3597649]lol, yeah. I got 'square root of 100,000' and 'compound $1m @ 10% for 10y' as standard first round filter questions, before I even got to the actual interview.
  • #59,616
  • Mar 30, 2010 11:50pm Mar 30, 2010 11:50pm
Quoting Pinnocchio_S
Mine were stuff like multiply 36 by 78 which I could do farily quickly, but when it got to the hundreds and thousands, I was taking far too long (she wanted me to answer in around 10 seconds) .... I believe this was for a floor trader position however.

Tell me though, is this capability really that important?

.
my friend had to just play a round of golf for his position at one of the top funds in the states

but seriously, it varies, its sometimes what you know, sometimes who you know(more times). The good thing is for us who want to trade our own accounts we only need to answer to one person(maybe 2 if your married).
  • #59,617
  • Mar 30, 2010 11:51pm Mar 30, 2010 11:51pm
Quoting mbqb11
(maybe 2 if your married).
When you have to shoot, shoot. Dont talk.
  • #59,618
  • Mar 30, 2010 11:51pm Mar 30, 2010 11:51pm
Where were you trying to get a job?

[quote=Pinnocchio_S;3598555]Mine were stuff like multiply 36 by 78 which I could do farily quickly, but when it got to the hundreds and thousands, I was taking far too long (she wanted me to answer in around 10 seconds) .... I believe this was for a floor trader position however.

Tell me though, is this capability really that important?

Quoting joelcf
lol, yeah. I got 'square root of 100,000' and 'compound $1m @ 10% for 10y' as standard first round filter questions, before I even got to the actual interview.
  • #59,619
  • Mar 30, 2010 11:52pm Mar 30, 2010 11:52pm
Quoting mbqb11
Hey Jacob

This is something I adopted long ago. It accomplishes a lot of things. Firstly it keeps you from trading every 10 mins . More importantly these larger round numbers are hit less, thus when price eventually makes it back to one it is going to generate both a lot of psychological interest as well as economic interest, and other things like barriers and tons of OF exist. Now this isn't to say the smaller round numbers are not important. They are very important, but more important for me in trade mgmt. Open any chart plot these numbers...
So do you still plot PPZ on your charts or just your 1000/500 pip zone increments?
  • #59,620
  • Mar 30, 2010 11:53pm Mar 30, 2010 11:53pm
Quoting mbqb11
my friend had to just play a round of golf for his position at one of the top funds in the states

but seriously, it varies, its sometimes what you know, sometimes who you know(more times). The good thing is for us who want to trade our own accounts we only need to answer to one person(maybe 2 if your married).
I'd rather play a round of golf under pressure than have to be grilled by the wife!
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