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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

  • #64,141
  • May 18, 2010 2:35pm May 18, 2010 2:35pm
Hi, Mike, here again, would you please help highlight the traffic area which concerned you ? thanks

Quoting mbqb11
Hey J

That pin is in a lot of traffic. Meaning it did not create a real solid swing point. Thus, we are trading right into a problem area. Hopefully my chart shows you exactly what that problem area was.

Hope that helps
Mike
  • #64,142
  • May 18, 2010 2:42pm May 18, 2010 2:42pm
Quoting jeurre
Hi, Mike, here again, would you please help highlight the traffic area which concerned you ? thanks
I made a video that I have re-uploaded so I don't have to find the post.

http://drop.io/cfnoat3

This should clear up the chart below. And aside for the space issue one major thing I never do is trade into a PPZ, which 12.5 is clearly so we want to trade away from these areas to have the wind at our backs(so without knowing anything else I would never trade into the 12.5 that is our first trouble area traffic aside). I marked a pinbar that has space, vs the one you took.

Let me know if that helps
Mike
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  • #64,143
  • May 18, 2010 2:44pm May 18, 2010 2:44pm
I just noticed below, what a similar images btw dow and usdmxn, just inverted. I should have listened to Kissfan.



Quoting Dan Gilbert
Kissfan is a beast..... get used to it
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  • #64,144
  • May 18, 2010 2:48pm May 18, 2010 2:48pm
Hello Mike
Given the bearish trend would be better to sell on ret of IB daily?
(Maybe with divergence 4h tf?)
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  • #64,145
  • May 18, 2010 2:48pm May 18, 2010 2:48pm
Quoting jeurre
I am positive too, just don't sharp move so quick, could turn into exhaustion, if too a quick. but, I am excited to hear your vote, coz I have gold mine stock live acc
If you just get in, and out with your trades, you could miss the reset That is the advantage of NOT being a buy and hold investor.
Many choose unhappiness over uncertainty.
  • #64,146
  • May 18, 2010 2:52pm May 18, 2010 2:52pm
Quoting extraneo
Hello Mike
Given the bearish trend would be better to sell on ret of IB daily?
(Maybe with divergence 4h tf?)
Hey E

Personally if I was to play an IB I would simply sell below the low and stop above the high. I just wouldn't be comfortable playing a short into such an over extended move. I know the urge is to get in the trend but we are getting pretty oversold and I wouldn't put past some sort of reversal soon, maybe it comes lower at 1.4 but this ones tricky IMO.

Best
Mike
  • #64,147
  • May 18, 2010 2:52pm May 18, 2010 2:52pm
yes, definitely helped, Mike. just a little clarification, please. firstly you said traffic, it's a space issue this time. I guess you were referring to space, right? coz my understanding from your video seems to me a traffic is more an area of side by side bars while space is the empty area, a little bit lost here

Quoting mbqb11
I made a video that I have re-uploaded so I don't have to find the post.

http://drop.io/cfnoat3

This should clear up the chart below. And aside for the space issue one major thing I never do is trade into a PPZ, which 12.5 is clearly so we want to trade away from these areas to have the wind at our backs(so without knowing anything else I would never trade into the 12.5 that is our first trouble area traffic aside). I marked a pinbar that has space, vs the one you took.

Let me know if that helps
Mike
  • #64,148
  • May 18, 2010 2:54pm May 18, 2010 2:54pm
Quoting jeurre
yes, definitely helped, Mike. just a little clarification, please. firstly you said traffic, it's a space issue this time. I guess you were referring to space, right? coz my understanding from your video seems to me a traffic is more an area of side by side bars while space is the empty area, a little bit lost here
Hey J

I use the terms the same. If there is space, there is less traffic. If there is no space there is more traffic. They are an interchangeable concept in my book. So if you can't find space your finding traffic

Mike
  • #64,149
  • May 18, 2010 2:58pm May 18, 2010 2:58pm
got ya, will internalize these two rules, trade away from ppz, not into it, and no trade in traffic. thank you, Mike

Quoting mbqb11
Hey J

I use the terms the same. If there is space, there is less traffic. If there is no space there is more traffic. They are an interchangeable concept in my book. So if you can't find space your finding traffic

Mike
  • #64,150
  • May 18, 2010 3:00pm May 18, 2010 3:00pm
Quoting mbqb11
Hey E

Personally if I was to play an IB I would simply sell below the low and stop above the high. I just wouldn't be comfortable playing a short into such an over extended move. I know the urge is to get in the trend but we are getting pretty oversold and I wouldn't put past some sort of reversal soon, maybe it comes lower at 1.4 but this ones tricky IMO.

Best
Mike
see the risk of a reversal?
(I had thought about me)
  • #64,151
  • May 18, 2010 3:05pm May 18, 2010 3:05pm
hey, Dan, my friend, a bit difficulty to understand your point

"If you just get in, and out with your trades, you could miss the reset"
=>>>> meaning hold the position, or sit tight if using livermore's term

"That is the advantage of NOT being a buy and hold investor"
=>>>> it seems saying should not hold a position too long

maybe, pardon my English, just what I understood your post. I knew there must be something wrong in my understanding, simply could not figure it out


Quoting Dan Gilbert
If you just get in, and out with your trades, you could miss the reset That is the advantage of NOT being a buy and hold investor.
  • #64,152
  • May 18, 2010 3:15pm May 18, 2010 3:15pm
Quoting jeurre
hey, Dan, my friend, a bit difficulty to understand your point

"If you just get in, and out with your trades, you could miss the reset"
=>>>> meaning hold the position, or sit tight if using livermore's term

"That is the advantage of NOT being a buy and hold investor"
=>>>> it seems saying should not hold a position too long

maybe, pardon my English, just what I understood your post. I knew there must be something wrong in my understanding, simply could not figure it out
nope, what I mean is, set a profit target, and don't hesitate on closing it up when it gets there. That is what you do on a margin account
Many choose unhappiness over uncertainty.
  • #64,153
  • May 18, 2010 3:19pm May 18, 2010 3:19pm
I liked this simplicity

Quoting Dan Gilbert
nope, what I mean is, set a profit target, and don't hesitate on closing it up when it gets there. That is what you do on a margin account
  • #64,154
  • May 18, 2010 3:30pm May 18, 2010 3:30pm
Quoting jeurre
I liked this simplicity
It has been my absolute biggest "discovery" in the past 2 months.
Many choose unhappiness over uncertainty.
  • #64,155
  • May 18, 2010 3:42pm May 18, 2010 3:42pm
Quoting smikester
<=====this man's very interested. The rising wedges (now breaking) on AUD/USD and NZD/USD were pointed out to me some time ago by gatorinla. Tell me all about it...
Hi bro
Here it's so Facts - Copy Part
“The International Energy Agency Last Wednesday lowered its 2010 world oil demand forecast, its first substantial cut in a year, on weaker-than-expected consumption in emerging markets and revisions to 2008 demand data,”.

China’s accelerating inflation and surging house prices are adding pressure on policy makers to raise interest rates and allow yuan gains even as their concerns over Europe’s debt woes persist.If the International Energy Agency is correct, it means demand for the oversupply of Chinese goods being manufactured could be a major problem for China. And if China shrugs, all markets get whacked, especially those of the commodity variety.
  • #64,156
  • May 18, 2010 4:05pm May 18, 2010 4:05pm
am I the only guy seeing the opportunitys we have today?
Many choose unhappiness over uncertainty.
  • #64,157
  • May 18, 2010 4:07pm May 18, 2010 4:07pm
Quoting Dan Gilbert
am I the only guy seeing the opportunitys we have today?
Most of my daily candles dont show a good entry right now, you have something else?
Dr. C
  • #64,158
  • May 18, 2010 4:13pm May 18, 2010 4:13pm
Quoting cvcamper
Most of my daily candles dont show a good entry right now, you have something else?
natural gas is the absolute best, gold (tied for absolute best), EURJPY, NZDJPY

ALL TREND CONTINUATION BARS, MY ABSOLUTE FAVORITE KIND
Many choose unhappiness over uncertainty.
  • #64,159
  • May 18, 2010 4:18pm May 18, 2010 4:18pm
Quoting Pinbar
Jarroo

Can you explain why it tells you it wants to go higher.

I see the weekly Bearish PB being short and well above the PPZ but isn't the daily PPZ not the same PA level?

I mean, the W1 PPZ is at 1.13000 but the daily chart shows 1.1264 something.
Do not look at the current weekly bar for any confirmation or indication of any PA formation. The current weekly bar is still forming. You can look at the weekly bars that have closed, which the last two weeks were some big Bullish bars.

I agree with you Pb, that the 1.1300 is a strong Weekly and Daily PPZ level. But as you know, these PPZ levels are Zones or areas of which Prices acted as Support and Resistance. The 1.1265 fell into that zone. I pointed it out because it was such a clear level on the Weekly (in blue).

"why it tells you it wants to go higher" . . you mean besides the fact that it was a small Daily PB going against a very strong up move and that it broke and behaved like a little girl. Well, I saw that the PB (as small as it was) did fillfulled itself at its bare minimum. Once that happened, I saw more movement upwards. Its something I been working on called the "Fullfillment of Price". Still developing. . .


Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #64,160
  • May 18, 2010 4:20pm May 18, 2010 4:20pm
Quoting Dan Gilbert
am I the only guy seeing the opportunitys we have today?
I guess so Dan.

I do like the gold move, but it doesn't meet my criteria-rules.

That EUR/ChF wall looks interesting....I'ld like to rip those 1.4 stops out with my lots!
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