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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

  • #62,841
  • Edited 9:04pm May 5, 2010 8:45pm | Edited 9:04pm
Quoting goldtrader
and i was wrong!
when were u wrong?

edit: I see the GC trade is what you're talking about.... I was near positive price was going to drop from that area as well.....
Many choose unhappiness over uncertainty.
  • #62,842
  • May 5, 2010 9:00pm May 5, 2010 9:00pm
Quoting joelcf
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
The first hour and last hour are worth watching sometimes. It's just so much easier just sticking to the overseas markets though, as you said.

Even the asx200 gives better trades during outside hours. lol
Bundy's status today: "Waiting..."
  • #62,843
  • May 5, 2010 9:11pm May 5, 2010 9:11pm
Quoting Autumm
Any comments on the usd/jpy DBHLC? it has managed to close below the daily 365ema.
Divergence and big BRN too.

This is the trade I was considering earlier. I've passed in the end, since I found it was hard to formulate a plan for it.

If the path below was a little clearer I'd be in (it's messy to the left) , but with how it is I'd have been more comfortable if there was a bigger bar that showed more strength.

I'm sure others are taking it because of the divergence and round number.

In the end it won't let me manage the trade the way I would like. So no go for me personally.

My thoughts.
Bundy's status today: "Waiting..."
  • #62,844
  • May 5, 2010 9:22pm May 5, 2010 9:22pm
Quoting bundyraider

In the end it won't let me manage the trade the way I would like. So no go for me personally.

My thoughts.
"bundy's status today...."
Many choose unhappiness over uncertainty.
  • #62,845
  • May 5, 2010 9:54pm May 5, 2010 9:54pm
Quoting ghous
I have been itching....
Bollinger bands?
what led u to trying it out?

count me in.
  • #62,846
  • May 5, 2010 9:55pm May 5, 2010 9:55pm
Quoting Dan Gilbert
missed me by 3 pips.
in at least 1 broker, i think it was missed by only 1.x pips.
  • #62,847
  • May 5, 2010 10:03pm May 5, 2010 10:03pm
Quoting Dan Gilbert
...I would say this particular trade is an exception.
not really.
on certain occasions, price will do such thing: miss a particular price (example a round number) by +/-1 to 5pips. sometimes a round number will be missed by 0.1 to 0.9 pips!
  • #62,848
  • May 5, 2010 10:08pm May 5, 2010 10:08pm
Quoting Autumm
Any comments on the usd/jpy DBHLC? it has managed to close below the daily 365ema.
Not trading it, but here's a chart if you want to compare notes...
Attached Image (click to enlarge)
Click to Enlarge Name: uj dbhlc.gif Size: 21 KB
Bundy's status today: "Waiting..."
  • #62,849
  • May 5, 2010 10:33pm May 5, 2010 10:33pm
this is the best setup of the day in my opinion. we will watch!
Attached Image
Many choose unhappiness over uncertainty.
  • #62,850
  • Edited 11:22pm May 5, 2010 11:12pm | Edited 11:22pm
Quoting Dan Gilbert
when were u wrong?

edit: I see the GC trade is what you're talking about.... I was near positive price was going to drop from that area as well.....
that trade I out at b/e, you see it at the first 2 candle, but to tell you the truth, i hate that feeling of speaking of sth and hoping it will happend like i said, i think it BS, with all trade we can't know of the outcome exactly, it's all probabilities, so when i say sth i just say it by my view, with my own rules... It's just for entertainment in an forum when i get bored with my trading activities (a few of trades a month, all time just watch or do other thing...) and i don't want to prove anything or prove that i better than anyone else...
About your view of usd/jpy, if you wanna take it, surely you have your own reasons and own rule, and when i said i don't take it b/c of this, that, ect,... it's just for entertainment, it's BS, then maybe later i change my view and i take quickly...right after i said sth stupid about that...

and the key thing here is we will keep moving on and growing with our own rules, our own standards of trades,... And stand with our own feet, it's all through your own hard work and efforts...
Back to the beginning ... demo
  • #62,851
  • May 5, 2010 11:22pm May 5, 2010 11:22pm
Quoting goldtrader
that trade I out at b/e, you see it at the first 2 candle, but to tell you the truth, i hate that feeling of speaking of sth and hoping it will happend like i said, i think it BS, with all trade we can't know of the outcome exactly, it's all probabilities, so when i say sth i just say it by my view, with my own rules... It's just for entertainment in an forum when i get bored with my trading activities (a few of trades a month, all time just watch or do other thing...) and i don't want to prove anything or prove that i better than anyone else......
Don't be afraid to post anything. Your input is always appreciated. I felt exactly the same on GBPCHF as you....
Many choose unhappiness over uncertainty.
  • #62,852
  • May 5, 2010 11:31pm May 5, 2010 11:31pm
Quoting supremeChaos
Bollinger bands?
what led u to trying it out?

count me in.
Not sure...

It may have been Ryan's influence...perhaps.
I believe . . .
  • #62,853
  • May 5, 2010 11:36pm May 5, 2010 11:36pm
Quoting scott087
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
Everything's fine about this one...but I get a gut feeling we're demanding too much from this bar, I guess I get this feeling looking at the strong move down.

but I have to admit, the confluences on this one are sweeet!

g.
Attached Image (click to enlarge)
Click to Enlarge Name: xom daily.gif Size: 20 KB
I believe . . .
  • #62,854
  • May 5, 2010 11:39pm May 5, 2010 11:39pm
Quoting Dan Gilbert
this is the best setup of the day in my opinion. we will watch!
Ok what do we have here...

500 VBRN...good

double top...check

divergence...check

150 ema...Gee that's super cool!

You've been hawking the equities and futures nicely up late Dan.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: wko daily.gif Size: 19 KB
I believe . . .
  • #62,855
  • May 5, 2010 11:46pm May 5, 2010 11:46pm
Quoting ghous
Ok what do we have here...

500 VBRN...good

double top...check

divergence...check

150 ema...Gee that's super cool!

You've been hawking the equities and futures nicely up late Dan.

g.

Ghous.

May I ask, if you find the 6 RSI better than the 12, 26 9 MACD and in what manner is it better or suits you more?

Thanks in advance
  • #62,856
  • May 5, 2010 11:49pm May 5, 2010 11:49pm
Quoting ghous
Ok what do we have here...

500 VBRN...good

double top...check

divergence...check

150 ema...Gee that's super cool!

You've been hawking the equities and futures nicely up late Dan.

g.

oops, I didn't even see all that other confluence lol
Many choose unhappiness over uncertainty.
  • #62,857
  • May 5, 2010 11:50pm May 5, 2010 11:50pm
Quoting ghous
Ok what do we have here...

500 VBRN...good

double top...check

divergence...check

150 ema...Gee that's super cool!

You've been hawking the equities and futures nicely up late Dan.

g.
I had my eye on this one too. I have also been checking out Daily/Weekly CFD's and Futures.

The only problem I'm having is sometimes the position sizing is kind of a pain and I'm not sure of a reputable broker to trade CFD's and Futures with in the US.

Does anyone in here trade CFD/Futures live in the US? If so can you give me some insight on position sizing and where to go to live trade these?

Scott
  • #62,858
  • May 5, 2010 11:50pm May 5, 2010 11:50pm
Quoting ghous
Not sure...

It may have been Ryan's influence...perhaps.
What is your Bollinger Band parameters ?

On my system default is 20, 2.
  • #62,859
  • May 6, 2010 12:01am May 6, 2010 12:01am
Quoting scott087
I had my eye on this one too. I have also been checking out Daily/Weekly CFD's and Futures.

The only problem I'm having is sometimes the position sizing is kind of a pain and I'm not sure of a reputable broker to trade CFD's and Futures with in the US.

Does anyone in here trade CFD/Futures live in the US? If so can you give me some insight on position sizing and where to go to live trade these?

Scott
MB trading.

https://www.mbtrading.com/commission...?page=Futures#


go to that link, and if you click on the "product name" (mini wheat, mini gold, etc) you will get the low down on price per point, etc etc. check it out.
Many choose unhappiness over uncertainty.
  • #62,860
  • May 6, 2010 12:03am May 6, 2010 12:03am
Quoting Pinbar
Ghous.

May I ask, if you find the 6 RSI better than the 12, 26 9 MACD and in what manner is it better or suits you more?

Thanks in advance
They are one and the same thing. What we want them for is divergence, and I have seen both fulfill that purpose efficiently.

g.
I believe . . .
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