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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

  • #62,641
  • May 4, 2010 8:15am May 4, 2010 8:15am
Quoting nasir.khan
Well every thing......
Well you can trade PA without PPZ's to, but then you should be looking for something like GOLD weekly PB at end of November-09.
... .
which broker MT4's gold chart are u referring to? (just to clarify)
Thanks
  • #62,642
  • May 4, 2010 8:20am May 4, 2010 8:20am
Nice ride down on the euro, anyone else in on this biznatch?
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lowest draw down possible please.
  • #62,643
  • May 4, 2010 8:26am May 4, 2010 8:26am
Quoting bundyraider
Damn..
That explains it.

I thought I was going mad! Bummer! It was handy having them in MT4.

The new changes are not comfortable, and this it pisses me off bc I loved them having all together in one place.

For everyone who want them back you should try Forex LTD they offer beside dji and sp500 also USDX and EURX.

hope it helps

chears!!
  • #62,644
  • May 4, 2010 8:34am May 4, 2010 8:34am
Quoting artov
That pin is very small, I wouldn't trade it if it closes like this.

UPDATE: I just noticed I made the screenshot @ exactly 666 minutes to go before it closes. Maybe another sign of it's weakness.

Thanks for your input.


As you say, it is currently rather small to the bars around it.

it is easy for me to get caught up in one aspect of analysis, such as the position of the bar and then forget to consider the size.
In this case the 61.8 fibo blinded me from looking at the size of the bar.


Tomorrow is the last day of the Golden week national holidays here in Japan so, maybe the day after tomorrow will show us more action and indeed which way this wants to go.


Thanks again for your opinion.

PB
  • #62,645
  • May 4, 2010 8:39am May 4, 2010 8:39am
Quoting the_wizard
Just a quick follow up on my post last night and this morning.

1/2 closed for 106 ticks profit.

Stop on remaining 1/2 now set to $85.65 (+16 ticks if hit).

-Tom
Out of remainder for 166 ticks.
  • #62,646
  • May 4, 2010 8:41am May 4, 2010 8:41am
Quoting supremeChaos
which broker MT4's gold chart are u referring to? (just to clarify)
Thanks
The one and only FXPro. lol

and if i remember correctly this is only setup Mike traded in December-09.
,
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  • #62,647
  • May 4, 2010 8:43am May 4, 2010 8:43am
Quoting triger88990
The new changes are not comfortable, and this it pisses me off bc I loved them having all together in one place.

For everyone who want them back you should try Forex LTD they offer beside dji and sp500 also USDX and EURX.

hope it helps

chears!!
Check out Windsor too.
.
  • #62,648
  • May 4, 2010 8:53am May 4, 2010 8:53am
this is also on the 61.8% Fibs....am already short and looking for FTA which to me is at 1.6557.....cheers.........nice one Dan

Quoting Dan Gilbert
I posted this in my journal, and figured I would post it here.
GBPUSD also looking good for Touch Trade to the upside..............that is if you do touch trades
  • #62,649
  • May 4, 2010 9:00am May 4, 2010 9:00am
Quoting nasir.khan
Check out Windsor too.
.
thanks buddy

I'll check them out as soon as I would have some time

all the best!!
  • #62,650
  • May 4, 2010 9:43am May 4, 2010 9:43am
What do you guys think about Currensee? It's a social networking site for forex traders which links the site directly to your live trading platform and records your live trading performances.

The fact that it's a member of NFA might convinces traders to join it, but that actually increases my doubt of it even more. I don't really like the idea of a single organization that has the access to the information of a large number of traders (soon to be majority if left unchecked). A broker that hunts stops is one thing, but something like Currensee has the potential to be more powerful than that.

What if Currensee is actually used by the 'big guys' to screen how all retail forex traders trade? They can simply absorb the majority of the stakes with all those information available. Some people might say it's just another Facebook, there's no need to get hyped up with conspiracy theories or whatever, but seriously, WHY JOIN?

I know, I can just not join it instead of ranting here, but I just want to share my view and hope you guys here can share yours too.
  • #62,651
  • May 4, 2010 9:46am May 4, 2010 9:46am
Quoting the_wizard
I'm looking for $84.75 for 1/2 and $84.15 for remainder on this trade.
this thing dropped like a rock! NICE WIZ!
  • #62,652
  • May 4, 2010 9:51am May 4, 2010 9:51am
Quoting fxeturn
What do you guys think about Currensee? It's a social networking site for forex traders which links the site directly to your live trading platform and records your live trading performances.

The fact that it's a member of NFA might convinces traders to join it, but that actually increases my doubt of it even more. I don't really like the idea of a single organization that has the access to the information of a large number of traders (soon to be majority if left unchecked). A broker that hunts stops is one thing, but something like Currensee has...
simple answer don't join something that has no benefit for you and also don't be so paranoid The markets much to large for your orders to really matter the big boys don't need a site like that to see your orders they are trading insane amounts of money straight through banks and seeing a lot more fed directly to them on sizes of orders that actually matter.
  • #62,653
  • May 4, 2010 9:59am May 4, 2010 9:59am
Quoting nasir.khan
The one and only FXPro. lol

and if i remember correctly this is only setup Mike traded in December-09.
,
it was niiiiiiice
  • #62,654
  • May 4, 2010 10:00am May 4, 2010 10:00am
a demo i4b that I didnt take on the live account because its not straddling a VBRN.
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Many choose unhappiness over uncertainty.
  • #62,655
  • May 4, 2010 10:09am May 4, 2010 10:09am
some more off the table at 2700

http://i432.photobucket.com/albums/q...Untitled-6.jpg
  • #62,656
  • May 4, 2010 10:10am May 4, 2010 10:10am
Anyone watching oil and gold the last hour or so?
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Anything can happen.
  • #62,657
  • May 4, 2010 10:15am May 4, 2010 10:15am
These Trends almost always surprise me, i never expected that the Down trend will reach these levels BUT IT DID! luckily i stopped trying to figure out where price will reverse along time ago and just traded what i see

will this level hold? i certainly dont know but what i want to see is a LARGE PA reversal (because the Down trend is pretty tough) that i can
hold 4ever(like an0ther uptrend comming out from no-where)


<<long time lurker to this thread , want to thank every0ne here who is sharing there knowlege and experience

Thanks
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  • #62,658
  • May 4, 2010 10:17am May 4, 2010 10:17am
Quoting ezz
These Trends almost always surprise me, i never expected that the Down trend will reach these levels BUT IT DID! luckily i stopped trying to figure out where price will reverse along time ago and just traded what i see
This was one of my big turning points also
  • #62,659
  • Edited 10:39am May 4, 2010 10:22am | Edited 10:39am
Quoting nasir.khan
Well every thing including Fib's, TL's, Round Numbers and even PPZ's (the most powaful thing on the chart) could fail time to time.



Coming to Curve fitting, Well if you are kind of person who want's to trade the setup no matter what then you will always find something to support your decisions.

Like if you have a naked chart and then you get a PB or any other PA bar. You will then go to find confluence factor for your trade decision. Now this where it get very difficult to not finding them by curve fitting.

Then if you mark out all good tradeable...


Yes, Yes, Yes!!!!

very good point.

I usually just find a couple of PPZ on the weekly near price and then go down to the lower TF to find more possibly PPZ. But as you say, subliminal curve fitting can creep in.

Perhaps, it is best to find PPZ all over the chart and wait for price to show us PA around them. Now this is where it gets like, "which came first the Chicken or the Egg.

Thanks for sharing your thoughts on this, very insightful.


EDIT: Is there no known, reasonably reliable mechanical method of drawing PPZ to keep it objective?
  • #62,660
  • May 4, 2010 10:59am May 4, 2010 10:59am
Quoting Dan Gilbert
I honestly would not take this long (trend, and divergence)
lol!

I think I'm 1 for 5 on accurately knowing in which direction these i4b's are going to break...
Many choose unhappiness over uncertainty.
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