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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

  • #62,861
  • May 6, 2010 12:03am May 6, 2010 12:03am
Quoting cprao
What is your Bollinger Band parameters ?

On my system default is 20, 2.
It's default settings that I am using as well.

g.
I believe . . .
  • #62,862
  • May 6, 2010 12:04am May 6, 2010 12:04am
Quoting Dan Gilbert
oops, I didn't even see all that other confluence lol
I know the feeling.

the charts have to be "dressed" up before they are put up at forums eh?

g.
I believe . . .
  • #62,863
  • May 6, 2010 12:07am May 6, 2010 12:07am
Quoting Pinbar
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?
http://www.forexfactory.com/showpost...postcount=1211

Thanks for checking it out, but take a look at the post above.
  • #62,864
  • May 6, 2010 12:11am May 6, 2010 12:11am
Quoting ghous
I know the feeling.

the charts have to be "dressed" up before they are put up at forums eh?

g.
nah, I just throw it up raw and have you dress it for me lol....
Many choose unhappiness over uncertainty.
  • #62,865
  • Edited 1:08am May 6, 2010 12:19am | Edited 1:08am
Quoting scott087
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?
If by 'live', you mean wade into the pit with a bunch of slips... then no.

If you mean trading futures with actual money, then yes I trade futures, rather than cfds over futures, so slightly different. Higher margin, but less getting shafted on execution, position financing, spreads and roundtrip fees. But pretty sure CFDs/spreadbetting is illegal in the US anyways. Interactive Brokers all the way.

*edit* stupid forexfactory, overwriting my link with their br0kerspam. http://www.interactivebrokers.com/en/p.php?f=products then futures. Most of what you want is (listed, cme/cbot/nymex are amalgamated now) on CME or NYMEX, maybe LIFFE or CBOT or NYBOT.
When you have to shoot, shoot. Dont talk.
  • #62,866
  • May 6, 2010 12:24am May 6, 2010 12:24am
Quoting ghous
It's default settings that I am using as well.

g.
Thank you.
  • #62,867
  • May 6, 2010 12:38am May 6, 2010 12:38am
Quoting neutro
50 fib, trendline and PPZ. That's gotta be worth some bucks. Pullback to the trendline would have been a real deal.
Welcome to the land of Rac-man. Classic.

Also noticed that the BEOB fullfilled itself by hitting its PPZ target.
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Indicators show the past. Price Action "Indicates" the future.
  • #62,868
  • Edited 2:43am May 6, 2010 1:28am | Edited 2:43am
Quoting Atc
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....

Here's some thoughts Atc.

Fib levels by themselves (imo) will not serve you well unless they are confluencing with a PPZ level and/or BRN. The 1.0500 (BRN) was confluencing great with the very noticable PPZ level (no surprise) at the 1.0500. which was also at a 50% retracement level. Very nice, strong strong level.

The 61.8 fib level had an "OK" PPZ level lining up with it. But it wasn't standing out like the 50% ret.


The 1st blue formation is not a PB but a neutral or indecision bar. Still tradable, but a formation like a PB will give a direction like a "bearish" PB or "bullish" PB.

If you took neutral bar and the DBLHC, our targets would be the previous bar Highs and/or Lows . . . or both, a PPZ level.

(Yeah I know, the DBLHC is a little shaky at best . .lol)


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #62,869
  • May 6, 2010 1:31am May 6, 2010 1:31am
GBP/JPY

Reasonable PB off the 38.2 & of the 365 EMA with daily TL as confluence.


Too close to the 141 area for me to jump in with 9 pips spread.
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  • #62,870
  • May 6, 2010 1:41am May 6, 2010 1:41am
Quoting Pinbar
GBP/JPY

Reasonable PB off the 38.2 & of the 365 EMA with daily TL as confluence.


Too close to the 141 area for me to jump in with 9 pips spread.
Is there a PPZ level there too, PB?
Indicators show the past. Price Action "Indicates" the future.
  • #62,871
  • May 6, 2010 1:49am May 6, 2010 1:49am
Looks like the Gbp/Usd found a reason to go for the 1.5000.

Took the Hourly IB, DIBS style. Not in the free trade just yet though. lol
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Indicators show the past. Price Action "Indicates" the future.
  • #62,872
  • May 6, 2010 2:00am May 6, 2010 2:00am
Hi Jarroo, IMHO 1.4988 looks better...???
  • #62,873
  • May 6, 2010 2:04am May 6, 2010 2:04am
Quoting jarroo
Is there a PPZ level there too, PB?


Ehem.......Thank you Jarroo for that very gentle Cattle Prod!

Yes, I missed the 142 PPZ.
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  • #62,874
  • May 6, 2010 2:07am May 6, 2010 2:07am
Quoting esbatu
Hi Jarroo, IMHO 1.4988 looks better...???
Really. lol How so? Oops I thought that was a different smiley face ()

I was thinking more the 1.5015-20.
Indicators show the past. Price Action "Indicates" the future.
  • #62,875
  • May 6, 2010 2:13am May 6, 2010 2:13am
Quoting Pinbar
Ehem.......Thank you Jarroo for that very gentle Cattle Prod!

Yes, I missed the 142 PPZ.

Very nice Pb.

PBs at a retracement level are very tradable, but we like the ret level at a swing high or low.

As a continuation PB or a very shallow swing High PB like yours, we want many confluences supporting them. And the main one is a strong PPZ level.
Indicators show the past. Price Action "Indicates" the future.
  • #62,876
  • May 6, 2010 2:19am May 6, 2010 2:19am
Quoting mbqb11
here is a clip from today's webinar where I talked about this bar and the aud/sgd. Again these are just MY views.

http://drop.io/q6ks7v7

Best
Mike
Thanks for the video Mike, it's great!!!

Can I please ask, do you look for overall market conditions like trend, range, does it play any role in your trading? Or you simply observe areas of confluence? And do you use trend lines?

Ira
  • #62,877
  • May 6, 2010 2:20am May 6, 2010 2:20am
Haha I am just messing with you. I guess you are looking at the top of the ppz zone and I am looking at the bottom of the zone. I prefer it cut through 1.5 level and bounce back hard. Anyways let see how it plays out, price is near the target now
  • #62,878
  • May 6, 2010 2:27am May 6, 2010 2:27am
Quoting esbatu
Haha I am just messing with you. I guess you are looking at the top of the ppz zone and I am looking at the bottom of the zone. I prefer it cut through 1.5 level and bounce back hard. Anyways let see how it plays out, price is near the target now
Yes sir. Penty of momentum to do just that, cut through the 1.5.

I think I hear a ton of alerts going off from Mike's computer coming through the thread. lol
Indicators show the past. Price Action "Indicates" the future.
  • #62,879
  • May 6, 2010 2:30am May 6, 2010 2:30am
Quoting jarroo
Yes sir. Penty of momentum to do just that, cut through the 1.5.

I think I hear a ton of alerts going off from Mike's computer coming through the thread. lol
  • #62,880
  • May 6, 2010 2:31am May 6, 2010 2:31am
Quoting ira
Thanks for the video Mike, it's great!!!

Can I please ask, do you look for overall market conditions like trend, range, does it play any role in your trading? Or you simply observe areas of confluence? And do you use trend lines?

Ira
yes all those do play a role to some extent. If it's on the chart I do not ignore it. I don't use trendlines much except for when I am looking at breakout patterns or real obvious ones for a little extra confluence.

Best
Mike
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