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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

  • #63,221
  • May 9, 2010 12:03pm May 9, 2010 12:03pm
Quoting extraneo
Therefore, two consecutive low bar can be a good entry point
even if the chart weekly says up?
Do you have a chart example of this?
Indicators show the past. Price Action "Indicates" the future.
  • #63,222
  • May 9, 2010 12:10pm May 9, 2010 12:10pm
Quoting Steve0001
Any opinions about what the most recent PA suggests for the USDSGD? The H4 shows an IPB which suggests it will go up, but it is already near a swing high. So I don't think it's a good trade.
Could you show the Daily and Weekly PPZ levels on your 4 Hour chart?
Thanks.
Indicators show the past. Price Action "Indicates" the future.
  • #63,223
  • May 9, 2010 12:12pm May 9, 2010 12:12pm
Quoting jarroo
Do you have a chart example of this?
i have not chart
for me it is a theoretical question...
then with your question, you tell me when there are two consecutive low bar, the weekly trend should be down or that it is very likely that the weekly trend is short laps?
  • #63,224
  • May 9, 2010 12:19pm May 9, 2010 12:19pm
Quoting extraneo
i have not chart
for me it is a theoretical question...
then with your question, you tell me when there are two consecutive low bar, the weekly trend should be down or that it is very likely that the weekly trend is short laps?
Yes, it would be fair to say that if the higher time frames (Weekly and Monthly) are showing lower Lows that the overall trend is down.
Indicators show the past. Price Action "Indicates" the future.
  • #63,225
  • May 9, 2010 12:27pm May 9, 2010 12:27pm
Quoting jarroo
Yes, it would be fair to say that if the higher time frames (Weekly and Monthly) are showing lower Lows that the overall trend is down.

if the weekly and monthly trend are short, two bars daily matching highs, together with a ppz are enough to determine a change of trend (even short-term) long?
  • #63,226
  • May 9, 2010 12:38pm May 9, 2010 12:38pm
Quoting jarroo
Here's a nice little video . . .the last 2 minutes explains it well.

http://www.wimp.com/thegovernment/
Very nice video. Enjoyed it and I agree with it's points as well.

However, it seems that the videomaker wasn't aware of why fascists are usually placed to the far right on a political scale, that has nothing to do with the amount of power of the government. If it did, then as the video suggests they and communism are just the same.

Here's an excerpt from wikipedia (http://en.wikipedia.org/wiki/Political_spectrum):

The terms Right and Left refer to political affiliations which originated early in the French Revolutionary era of 1789-1796, and referred originally to the seating arrangements in the various legislative bodies of France. The aristocracy sat on the right of the Speaker (traditionally the seat of honor) and the commoners sat on the Left, hence the terms Right-wing politics and Left-wing politics.
Originally, the defining point on the ideological spectrum was the ancien régime ("old order"). "The Right" thus implied support for aristocratic or royal interests, and the church, while "The Left" implied support for republicanism, secularism and civil liberties.[2] Because the political franchise at the start of the revolution was relatively narrow, the original "Left" represented mainly the interests of the bourgeoisie, the rising capitalist class. At that time, support for laissez-faire capitalism and Free markets were counted as being on the left; today in most Western countries these views would be characterized as being on the Right.
As the franchise expanded over the next several years, it became clear that there was something to the left of that original "Left": the precursors of socialism and communism, advocating the interests of workers and peasants.

It's true that both fascism and communism are forms of oligarchy, but the elites they are based on stem from different classes in society - this is why fascists and communists are placed on opposing ends of the left-right scale.

All right, that's really enough ranting. Back to business!
  • #63,227
  • May 9, 2010 12:40pm May 9, 2010 12:40pm
Quoting extraneo
if the weekly and monthly trend are short, two bars daily matching highs, together with a ppz are enough to determine a change of trend (even short-term) long?

Its hard to understand without a chart.

Do these charts reflect your question?
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Indicators show the past. Price Action "Indicates" the future.
  • #63,228
  • May 9, 2010 12:43pm May 9, 2010 12:43pm
as far as I'm concerned, IPB's aren't to be played beyond the tip of the pin. Full profit take @ end of pin=success.
Many choose unhappiness over uncertainty.
  • #63,229
  • May 9, 2010 12:46pm May 9, 2010 12:46pm
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  • #63,230
  • May 9, 2010 12:53pm May 9, 2010 12:53pm
Quoting jarroo
Its hard to understand without a chart.

Do these charts reflect your question?

enter short where are the arrows, although the weekly trend is up?
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  • #63,231
  • May 9, 2010 1:04pm May 9, 2010 1:04pm
Quoting extraneo
enter short where are the arrows, although the weekly trend is up?
Yes . . Price Action is showing the way.

Weekly may be showing an uptrend but it is also showing a consolidation area as well. PA setups on top or on the bottom of consolidation areas can be very effective.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,232
  • May 9, 2010 1:09pm May 9, 2010 1:09pm
Hey guys

I have an indicator I use but during my night time hours when I sleep it only alerts one time. I would like to change this to keep alerting until I manually cut it off. I was wondering if someone can help me with that?Thanks in advance for your help!! If you would be willing to help please PM me.
Please ask questions and share your experiences with us all!
  • #63,233
  • May 9, 2010 1:14pm May 9, 2010 1:14pm
Quoting jarroo
Yes . . Price Action is showing the way.

Weekly may be showing an uptrend but it is also showing a consolidation area as well. PA setups on top or on the bottom of consolidation areas can be very effective.

Thanks Jarroo
You are a phenomenon of competence and kindness
  • #63,234
  • May 9, 2010 1:21pm May 9, 2010 1:21pm
Quoting bkg102665
Hey guys

I have an indicator I use but during my night time hours when I sleep it only alerts one time. I would like to change this to keep alerting until I manually cut it off. I was wondering if someone can help me with that?Thanks in advance for your help!! If you would be willing to help please PM me.
You mean like a line alert?
Many choose unhappiness over uncertainty.
  • #63,235
  • May 9, 2010 1:47pm May 9, 2010 1:47pm
Any agreement on Greece package ? any links ? all pairs moved up.. another volatile move upwards..
  • #63,236
  • May 9, 2010 1:58pm May 9, 2010 1:58pm
Quoting jarroo
Here's a nice little video . . .the last 2 minutes explains it well.

http://www.wimp.com/thegovernment/
Good one..
  • #63,237
  • May 9, 2010 2:02pm May 9, 2010 2:02pm
Superb, let's react accordingly too, thanks

Quoting jarroo
Hey jeur. The Monthly chart is a great example of what I'm talkin about.

The current Weekly BEOB is running into traffic. Yes . . the strong move down may have the momentum to continue through the 75.00 and 73.00 and even the 70.00. I agree.

Notice that Monthly BEOB back in July 2008. (Or a cool looking 2 Month PB.) Price breaks and runs nicely down, due to its lack of traffic. Then it hits the yellow area (traffic) and then reacts.

The Weekly BEOB is now running into some traffic. There should be a reaction. If there is no reaction. ....
  • #63,238
  • May 9, 2010 2:03pm May 9, 2010 2:03pm
Any one trading the cable daily pin bar?
Or would you keep out due to the uncertainty in UK?
I am so out of date that I have not yet caught the Millennium Bug.
  • #63,239
  • May 9, 2010 2:27pm May 9, 2010 2:27pm
hi,mkpkelly, i guess the answer would be positive if one wish to keep it simple and stupid _ KISS, the word most great traders might suggest . so, when trading PA setup, just follow what the PA suggests with certain criteria, say, location, size, traffice/space, and conflu, so, just keep fundies at sideline, probably? i may not qualify yet to address your question, however, based on my understanding, this is likely the answer, and i wish too a confirmation from a senior to reinforce my understanding.

in this case of cable, i would say we may have better sign of trading it, when i see so many gaps of different pairs that may suggest sign of strength, it is quite possibly break the pin, just my gut feeling though.

it may fail, but, that's not the reason we don't trade it, once seeing the probability is on our side, though learning not to trade is on most of the time we have to master before a shift in our trading career.

Quoting mkpkelly
Any one trading the cable daily pin bar?
Or would you keep out due to the uncertainty in UK?
  • #63,240
  • May 9, 2010 2:37pm May 9, 2010 2:37pm
though some traders may suggest trade into the gap, I'd like to work on the opposite. really liked to see the gap on break of the inside bar. foundamentally, just for entertainment, this may indicate the bailout plan sorted out part of the greece trouble for now?
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