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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

  • #62,821
  • May 5, 2010 4:47pm May 5, 2010 4:47pm
Quoting neutro
50 fib, trendline and PPZ. That's gotta be worth some bucks. Pullback to the trendline would have been a real deal.
true. I'm not getting a very good discount price on todays pin, but the last pin wasn't exactly a good price either, and it ran like no other.

NFP is friday ppl! I'm closing up all trades on thursday's close.
Many choose unhappiness over uncertainty.
  • #62,822
  • May 5, 2010 4:49pm May 5, 2010 4:49pm
Quoting Dan Gilbert
50% fibs have been handy on gold


Gold chart:
IMO commodities and futures respect the 50 fib more so then fx markets
  • #62,823
  • May 5, 2010 4:56pm May 5, 2010 4:56pm
Quoting mbqb11
IMO commodities and futures respect the 50 fib more so then fx markets
I have been finding so far that the behavior of the futures market is much more consistent than currencies.... for now....
Many choose unhappiness over uncertainty.
  • #62,824
  • May 5, 2010 5:09pm May 5, 2010 5:09pm
Here is a pretty nice IPB I found on XOM (ExxonMobil) Daily.

Sitting right on a very nice daily ppz, 61.8 fib of the last upswing, and RN 66.00. Good space, bar shape, and size too.

I'm liking the location but it looks like the move down was pretty sharp.

I'd like to hear from ghous on this one

Scott
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  • #62,825
  • May 5, 2010 5:38pm May 5, 2010 5:38pm
I did, practise makes perfect (Ghaooss)

Quoting ghous
and good attempt at the pronunciation Artov, you need to stretch it just a little less though, you went through the mp3?

g.
  • #62,826
  • May 5, 2010 6:25pm May 5, 2010 6:25pm
Quoting mbqb11
IMO commodities and futures respect the 50 fib more so then fx markets
And stocks.
At least the Ozzie ones anyway.

Quoting Dan Gilbert
I have been finding so far that the behavior of the futures market is much more consistent than currencies.... for now....
They say Forex is the hardest of them all to trade.
Bundy's status today: "Waiting..."
  • #62,827
  • May 5, 2010 6:36pm May 5, 2010 6:36pm
Quoting tehuringa
Hey Mikey and Jarroo.....I missed you guys
Good to see ya man. Been a while.
Bundy's status today: "Waiting..."
  • #62,828
  • May 5, 2010 6:38pm May 5, 2010 6:38pm
Quoting bundyraider


They say Forex is the hardest of them all to trade.
"they" say a lot of crazy things
  • #62,829
  • May 5, 2010 6:58pm May 5, 2010 6:58pm
Quoting mbqb11
"they" say a lot of crazy things
There are elements to it that are tricky, but after five years on currencies as my primary, it's hard to look at it from a beginners perspective now. lol

Try and trade the ASX stocks intraday. You get bored out of your mind. You sit their a whole day sometimes and not see anything move. Except the one stock you AREN'T watching.
Bundy's status today: "Waiting..."
  • #62,830
  • May 5, 2010 7:20pm May 5, 2010 7:20pm
I would like any comments on how I am using fibs. with J16....was watching this pair for the past months....I know that the fib lines may not be drawn exactly how others do it and I may be curve fitting to others opinions but this is how I was taught to draw them....but need any feedback on what you may think if you have the time.

In my past experience with other markets ...

Draw from low to high look for pull backs to 61.8% and/or 50% in trending markets and enter on touch and PA prior to touching ....also with RN's or BRN in consideration.

First target is the 0 line and move stop loss up to BE or under a bar and look for 2nd target at the 23% line above the 0 line....depending on PA let the 3rd entry run and move stop up.

Here are a couple of charts showing the above.

Any insights appreciated....trying to use my knowledge of J16 along with this to add confluence.

Also, trying to test to enter on touch of 61.8 or the break of the top of the 61.8 bar??? I think I know Mike would play the break.

Also, should mention once the 23% tgt is hit I move my fibs and redraw starting the previous 61.8.
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  • #62,831
  • Edited 7:46pm May 5, 2010 7:23pm | Edited 7:46pm
Quoting neutro
Something very strange just happened and I'm busting my nuts trying to figure it out. This entire day I had my GBPCHF chart up and the 365 EMA lined up exactly with the arrows in the chart below. Somehow now it doesn't.

Anyone know what's that about? Does your 365 line up with them or is it like it's drawn now on my chart?
Neutro

This is my FXDD live account feed.

Purple EMA is 365 close Orange 150 Close.



Maybe you meant the 150 EMA not the 365?
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  • #62,832
  • May 5, 2010 7:33pm May 5, 2010 7:33pm
Any comments on the usd/jpy DBHLC? it has managed to close below the daily 365ema.
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  • #62,833
  • May 5, 2010 8:01pm May 5, 2010 8:01pm
Quoting Autumm
Any comments on the usd/jpy DBHLC? it has managed to close below the daily 365ema.
Im taking it for 2% risk
Many choose unhappiness over uncertainty.
  • #62,834
  • May 5, 2010 8:09pm May 5, 2010 8:09pm
post
  • #62,835
  • May 5, 2010 8:10pm May 5, 2010 8:10pm
been looking for a stock to put some money in, that will beat what is in the mutual fund. found a hand full of them and have been watching Citigroup for the last 4 or 5 weeks.

Finally looks like I may have an entry.

That's a pinbar at the end. I'll be getting up at 5:40am to witness pre market trading, possibly placing an order then. the 1000 dollars i wired to my investment broker may be put to use now. i feel that it may be going down more, but this entry is hard to pass me by.

you guys may want to check it out too.
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  • #62,836
  • May 5, 2010 8:11pm May 5, 2010 8:11pm
Quoting bundyraider
Try and trade the ASX stocks intraday. You get bored out of your mind. You sit their a whole day sometimes and not see anything move. Except the one stock you AREN'T watching.
That's because all the volume is either superfunds rebalancing their index portfolios, or babyboomer retirees with a commsec account (paying $29.95 a side commission!) who 'day trade' the tips they got from aussiestockreport.

NYSE, NASD and LSE are where its at

Quoting Dan Gilbert
I have been finding so far that the behavior of the futures market is much more consistent than currencies.... for now....
It's a hell of alot easier to value a truckload of pork bellies than a currency. Which gives a more consistent market consensus on fundamental value, and oversold/undersold. So you get more clearly defined regions of s/r. Even more effective in stocks, since you get all those plus dumbass punters (sorry, 'uninformed participants') as described above buying BHP everytime it dips below 40..

Also, volume data and t&s rocks. Stupid forex.
When you have to shoot, shoot. Dont talk.
  • #62,837
  • May 5, 2010 8:13pm May 5, 2010 8:13pm
Thanks to all for the help with the PPZ.
I am seeing how, if drawn correctly they are like a beacon in the dark.
Especially the Weekly as everyone pointed out.

Would have been a nice trade with the SL just behind the 1.6500 and the 38.2 fibo.

Greatly appreciated people.
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  • #62,838
  • May 5, 2010 8:16pm May 5, 2010 8:16pm
Quoting joelcf
It's a hell of alot easier to value a truckload of pork bellies than a currency. Which gives a more consistent market consensus on fundamental value, and oversold/undersold. So you get more clearly defined regions of s/r. Even more effective in stocks, since you get all those plus dumbass punters (sorry, 'uninformed participants') as described above buying BHP everytime it dips below 40..

Also, volume data and t&s rocks. Stupid forex.
I don't know jack about stocks..... those charts have no cooridination to me

also, floor trader pivots are sure nice targets when trading the commodities
Many choose unhappiness over uncertainty.
  • #62,839
  • May 5, 2010 8:28pm May 5, 2010 8:28pm
Quoting Autumm
Any comments on the usd/jpy DBHLC? it has managed to close below the daily 365ema.
IMO, it's a bearish candle from the high to low of a slowly range move (up), it doesn't stand at high, and even with it, i'm looking for its high to higher the previous candle some length to get my odd in my favor with higher probability and some other things, but with these 2 things i have passes it...

and Dan, you gonna take it?, it's CT trade, unless you catch it at its turn...

It's just my opinion, i can be wrong and i was wrong!
Back to the beginning ... demo
  • #62,840
  • May 5, 2010 8:42pm May 5, 2010 8:42pm
Quoting goldtrader
IMO, it's a bearish candle from the high to low of a slowly range move (up), it doesn't stand at high, and even with it, i'm looking for its high to higher the previous candle some length to get my odd in my favor with higher probability and some other things, but with these 2 things i have passes it...

and Dan, you gonna take it?, it's CT trade, unless you catch it at its turn...

It's just my opinion, i can be wrong and i was wrong!
uh oh... goldtrader is here for his once monthly post!

lol....

have a look at this chart goldtrader, as far as trend on USDJPY


61.8 and 95.00 VBRN.... but you're probably right, as usual....
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Many choose unhappiness over uncertainty.
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